The Impact Of Entrepreneurship Environment On Household Consumption Of Entrepreneurs

In the developed countries which have a perfect market economy system,the choice of financial assets of residents depends mainly on the endogenous variables of the residents,such as income,gender,age,risk attitude and education degree.For the countryof China from the planned economy system to the market economy system is different,the behavior of residents' household assets is highly related to the process of institutional transformation.The emergence and evolution of household assets are influenced by the external institutional environment of economic transformation.The change of the entrepreneurial environment system can be regarded as a change of regional institutional environment,which may have far-reaching influence on the entrepreneur on the behavior of the fund allocation,and the difference of the entrepreneurial environment may lead to the different behavior of assets on the entrepreneur In addition,although non-entrepreneurial households do not carry out entrepreneurial activities,but changes in the entrepreneurial environment may also have a positive or negative impact on non-entrepreneur family financial asset investment decision-making behavior,mainly in the external economic environment on the impact of financial asset allocation behavior,There maybe have a difference or non-difference compared with the entrepreneur family.In view of the above,the choice of entrepreneur family assets is a complex process,not only by their own demographic characteristics of the factors,more likely to have a close relationship with the entrepreneurial environment,and the entrepreneurial environment may has a different impact on entrepreneur families in the financial Asset selection.Although the academic community has agreed that the entrepreneurial environment at the national or regional level has an impact on entrepreneurial behavior,including entrepreneurial motivations,success rates,costs and performance,but what is the impact of the entrepreneurial environment on the behavior of specific household financial assets? This issue has not yet been reported.This paper analyzes the data of financial assets in the micro-data of the China Household Finance Survey in 2013 and the data of "China Statistical Yearbook" and the "China Statistical Yearbook".From Six dimensions,the economic environment,the scientific environment,the cultural environment,the ecological environment,the livable environment and the talent environment to build a comprehensive index of entrepreneurial environment,combined with the decision-making behavior of family financial assets to determine its impact on entrepreneur family financial asset decision-making,including participation in decision-making and allocation of decision-making.On the basis of summarizing the previous experience,we include the basic control variables,such as gender,education level,risk preference,social and economic development level,and so on.Which is a useful supplement to the influencing factors of family financial assets and also expands the existing literature research on entrepreneurs.Through the grouping of family financial assets,the households are divided into entrepreneur households and non-entrepreneur families.At the same time,the financial assets of the family are classified as safe assets and risk assets according to the risk size.The empirical study shows that the entrepreneurial environment Family and non-entrepreneur families have a significant role in promoting the choice of family financial assets,and the results of the Wald test showed no significant difference in the impact of the two.Although non-entrepreneurs do not start business,but the entrepreneurial environment will also affect the allocation of its family financial assets,the external environment changes,can promote the residents to participate in the decision-making in family financial assets.At the same time,the entrepreneurial environment has a significant inhibitory effect on the proportion of financial assets in the entrepreneur family and non-entrepreneur family.The results of the Wald test show that there is a significant difference between the two,and the entrepreneurial environment improvement entrepreneurial households will reduce more security assets,and non-entrepreneurial households will reduce more risk asset.According to the above empirical conclusions,this paper puts forward the corresponding policy recommendations: First,the government should continue to attach importance to China's current business environment,put the innovation and entrepreneurship as the focus of national policy research,from the policy of unity to systematic development,and provide a good external conditions to entrepreneurs.Second,the financial sector,should be based on the needs of the policy and the people,creating financial productsrelated to the social target,especially consider the needs of entrepreneurs.Third,promote innovative ideas in the whole society,form an atmosphere of innovation,at the same time,the government should provide the appropriate technical support for entrepreneurs,such provide the appropriate financial training and advisory services to promote the quality of entrepreneurship.Fourth,the macroeconomic sector should strengthen the financial deepening reform,promote coordination and cooperation among various departments,To provide the necessary policy support for government departments to carry out work and innovative products in the financial sector,and promote innovation and reform in the whole society.