The Farmers’ Financing Willingness of Inclusive Finance in China: An Empirical Analysis of Guizhou Province,China
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Abstract
The purpose of this paper is to investigate and understand China’s rural farmers’ financing willingness of inclusive finance, and it examines related drivers like knowledge of inclusive finance, perceived benefits and perceived risks of formal finance. Besides, the social enterprise embeddedness and digital finance are integrated into the conceptual model to further investigate their moderating impact. It suggests that knowledge of inclusive finance can strengthen both perceived benefits and perceived risk of formal finance. Interestingly, the embedders of social enterprise can significantly reduce risk perceptions and improve perceived benefits of formal finance. Furthermore, perceived benefits of formal finance can positively enhance rural farmers’ financing willingness of inclusive finance, whereas perceived risks can negatively influence the financing willingness. Moreover, digital finance as a modifying factor can significantly strengthen the positive correlation between perceived benefits of formal finance and financing willingness of inclusive finance. The research indicates that a systematic inclusive finance educational project is needed to enhance rural farmers’ understanding of inclusive finance and its components. Moreover, the study reveals that it is crucial to promote social enterprise participation and digital finance to develop inclusive finance in rural China, as the service attributes of social enterprise and efficiency of digital finance can greatly reduce the existing transaction cost of farmers.
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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
บทความที่ปรากฏในวารสารนี้ เป็นความรับผิดชอบของผู้เขียน ซึ่งสมาคมนักวิจัยไม่จำเป็นต้องเห็นด้วยเสมอไป การนำเสนอผลงานวิจัยและบทความในวารสารนี้ไปเผยแพร่สามารถกระทำได้ โดยระบุแหล่งอ้างอิงจาก "วารสารสมาคมนักวิจัย"
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