Abstract: Our empirical study shows there are significant positive relationships between the entrepreneurial decision of the returned migrants and their individual endowments such as the entrepreneurial human capital, disposable wealth and education. We also find that the government quality might also have great impact on their entrepreneurial preference. In addition, although all the above factors have significant influence on their self-employment preference, the effects are relative small on the scaled-entrepreneurial marginal preference. All the above results imply that the government should reduce corruption and improve efficiency in order to induce entrepreneurship, and the government should mainly support self-employment but not scaled-entrepreneurship.

Key words: returned migrants, entrepreneurial decision, individual endowments, institutional environments

摘要： 本文研究发现,返乡者的企业家人力资本、可支配财富、教育程度等个人禀赋因素对创业决策有着重大影响;同时,政府的质量对返乡者的创业倾向也有相当大的影响。虽然上述因素的变化可在边际上大幅度影响返乡者选择自雇型创业的倾向,但对于其规模型创业倾向的影响要弱得多。上述实证结果表明,为了激励创业活动,政府应首先减少腐败和提高办事效率,并充分认识到,自雇型创业而非规模型创业才是最有效的帮助对象。

关键词: 返乡者, 创业决策, 个人禀赋, 制度环境