Resource Endowment,Risk Tolerance And Farmers’ Entrepreneurship

Entrepreneurship is not only a manifestation of farmers’ self-development ability,but also broadens the channels for farmers to increase income and promotes full employment of them.It has become an inevitable choice to promote the implementation of rural rejuvenation strategies and accumulate new dynamics in the agricultural and rural economic development.Similar to other entrepreneurs,farmer entrepreneurs start their businesses based on three sources of economic capital,human capital,and social capital.However,the current lack of basic rural risk protection systems,imperfections in information and credit markets,and the lack of entrepreneurship knowledge and skills,making farmer entrepreneurial activities accompanied by great risk.Therefore certain risk tolerances that matches them become the basic quality requirements for entrepreneurs.Through the combing of previous literature on entrepreneurship,it has been found that the choice of entrepreneurial organizational form and the scale of entrepreneurship as a decisive link in the development of entrepreneurial behavior failed to attract sufficient attention from scholars.Based on this,this paper constructs the logical framework of“resource endowment-risk tolerance-farmer entrepreneurship” from the perspective of the entrepreneurial resources of the farmer entrepreneurs.Reveal and elaborate the process mechanism of risk tolerance in the selection of entrepreneurial organizations and the scale of entrepreneurship,and point out the needs of farmers’ entrepreneurs in the perspective of risk tolerance,in order to provide theoretical support and experience for entrepreneurs to increase the survival rate of start-up companies,provide decision-making reference for the government to formulate relevant entrepreneurial support policies,and conduct empirical studies using survey data of some farmers’ entrepreneurs in five prefecture-level cities in Guangdong Province.The research results show that:(1)The human capital and risk tolerance of farmerentrepreneurs positively influence their choice of joint ventures,while social capital positively influences their choice of independent entrepreneurship,and risk tolerance plays a role as negative mediating during the process of social capital and farmers’ entrepreneurial organization selection.The impact of economic capital on the choice of farmers’ entrepreneurial organizations did not pass significant experience.(2)The economic capital,human capital,social capital and risk tolerance of farmer entrepreneurs positively affect the entrepreneurial scale of their entrepreneurs,and risk tolerance plays a positive mediating role in the process of resource endowment to farmers’ entrepreneurial scale.(3)The risk tolerance of farmers’ entrepreneurs has positively affected their demand for entrepreneurial support policies which is part of the village public goods.The management implications of this study are: farmer entrepreneurs should make full use of their capital and actively develop external capital to enrich entrepreneurial resources and improve their risk tolerance,then choose the appropriate entrepreneurial organizational form and entrepreneurial scale accordingly.The policy implications of this study are: in order to encourage and promote farmers to carry out entrepreneurial activities,and to increase the scale and level of current farmer entrepreneurship,relevant government departments can fill up the short board for the lack of individual resource endowments by providing policy resources and a good external entrepreneurial environment.Help them to overcome barriers to entrepreneurial behavior caused by the lack of entrepreneurial resources.The paper points out the shortcomings of this study and the direction of further research in the future at the end of the text.