正规金融、非正规金融与家庭创业——基于Logit和PSM模型的研究  

Formal Finance,Informal Finance and Households’ Entrepreneurship:Based on Logit and PSM Model

作　　者：沈红丽[1] SHEN Hong-li(School of Economics,Tianjin University of Commerce,Tianjin 300134,China)

机构地区：[1]天津商业大学经济学院

出　　处：《统计与信息论坛》2019年第12期31-39,共9页Journal of Statistics and Information

基　　金：天津市艺术科学规划基金《天津农村居民文化需求调查与多元供给研究》(D18063)

摘　　要：基于CFPS2016的数据,采用Logit模型分析正规金融与非正规金融对家庭创业决策的影响,发现正规金融与非正规金融均显著促进家庭创业决策,且二者存在显著的替代效应。采用PSM模型进一步分析正规与非正规金融对家庭创业绩效的影响,研究表明:正规金融虽然整体上显著促进了家庭创业绩效,但对农村、中西部地区以及从事农业生产和无稳定收入来源的家庭创业绩效的作用仍十分有限;非正规金融对家庭创业绩效的作用非常有限且不显著。Based on CFPS2016 survey data,the impact of formal and informal finance on households'entrepreneurial choices is examined.Through the Logit model,it concludes that,both formal finance and informal finance significantly promote household entrepreneurial choices and there is a substitution effect between formal and informal finance on entrepreneurial choices.Furthermore,the impact of formal and informal finance is studied on business performance of entrepreneurial households using PSM model.The results show that formal finance has a significantly positive and strong effect on business performance,but the effect is limit for entrepreneurs in rural,middle,west,engaging in agricultural production and lacking of stable source of income.The effect of informal finance is very limited and insignificant.The empirical evidence is provided for the financial development supports household entrepreneurship.

关 键 词：正规金融 非正规金融 创业决策 创业绩效 

分 类 号：F832[经济管理—金融学]