The Research Of Guangxi Microfinance Companies Entrepreneurship Insititutional Environment

Entrepreneurial institutional environment has a great impact on entrepreneurial acticities and the development of entrepreneurial companies.The most famous study method is proposed by GEM, it studies the institutional environment from nine aspects include financial support, government policy,government programs,education and training,R&D transfer,business environment,infrastructure, market open and cultural norms.In this paper we put the Microfinance companies as a kind of entrepreneurship of Chinese financial innovation.Follow the methods of GEM,we study the impact of entrepreneurial institutional environment on Guangxi microfinance companies,focus on the mechanism of government regulation,financial market development, financing support,infrastructure and cultural norms.Based on the survey date from the"Technological progress,institutional change and entrepreneurial opportunities:based on the theory and empirical research in less developed areas"research group and tthe Innovation Project of Guangxi Graduate Education"the research of Guangxi entrepreneurship institutional environment"in 2013,we find that government regulation has a negative impact on the development of the microfinance companies,while cultural norms,financing and infrastructure support are positively correlated with the microfinance companies’ development,financial market development has no obvious impact on the microfinance companies’ development.