1.College of Economics and Management, Zhejiang Agriculture and Forestry University;2.Tobacco Industry Development Center of Xuanzhou District
National Social Science Foundation of China (20BGL178).
With the in-depth implementation of the rural revitalization strategy, new farmers have become the main force in the development of modern agriculture in Zhejiang Province. Increasing the financing loan scale of new farmers is critical to solve their financing dilemma and to promote their entrepreneurial development. Based on the theory of behavioral economics and a field questionnaire survey data of new farmers in Zhejiang Province in 2020, this paper empirically analyzed the influencing factors of new farmers’ financing loan scale and discussed the differences in influencing factors between different types of entrepreneurial operations by the multiple linear regression model and the ordered logit model. Results show that: 1) new farmers’ financing loan scale in Zhejiang Province is small, which is mainly concentrated in the range of 100,000 to 500,000 yuan, and new farmers in cooperative and enterprise management have a larger financing loan scale than that of new farmers with individual operation; 2) participation in agricultural technology training, the identity of the Communist Party of China, relatives and friends working in banks or credit unions, annual operating income, Internet access to entrepreneurial information, Internet social frequency and government entrepreneurship subsidies have significant positive impacts on new farmers’ financing loan scale, while financing interest cost has a negative impact on their financing loan scale; and 3) from the perspectives of different types of entrepreneurial operations, participation in agricultural technology training, annual operating income, financing interest cost, Internet access to entrepreneurial information and government entrepreneurship subsidies significantly affect the financing loan scale of new farmers with individual operation, while the identity of the Communist Party of China, relatives and friends working in banks or credit unions and Internet social frequency have greater impacts on new farmers in cooperative and enterprise management. Accordingly, to increase new farmers’ financing loan scale and ability, this paper provides some policy suggestions, including encouraging new farmers to participate in agricultural technology training, improving rural Internet service system, and formulating differentiated financial support policies.