Abstract
Digital finance provides an ideal entrepreneurial environment for returning migrant workers (RMWs). From the perspective of entrepreneurs, many scholars have quantified the factors affecting entrepreneurship, as well as the entrepreneurial environment, theorized the importance, motives, and internal/external impactors of RMW entrepreneurship, and put forward quite a lot of countermeasures. This paper innovatively evaluates how digital finance influences the efficacy of RMW entrepreneurship. Firstly, the authors established an influencing factor analysis model and an RMW entrepreneurship model and explained principles for the structural equation modeling of the influence of digital finance on RMW entrepreneurship efficacy. Next, the traditional partial least squares (PLS) regression was optimized, the optimal initial iteration values (IIVs) were obtained, and the algorithm convergence was achieved. Finally, a multilayer structural equation model (SEM) was constructed to evaluate the influence of digital finance on RMW entrepreneurship efficacy. The proposed algorithm and model were proved valid and feasible through experiments.
Highlights
China has entered the new era of mass entrepreneurship and innovation
The creation of entrepreneurial atmosphere, digital finance network embedding, and digital finance model can be characterized by the degree of digital finance operation that of digital marketing and that of digital finance services; the cognitive embedding can be characterized by the willingness, motivation, and decision of entrepreneurship
Our evaluation model contains 29 observable variables. e eight latent variables, namely, digital operation δ1, digital marketing δ2, digital finance services δ3, entrepreneurial motives β1, entrepreneurial willingness β2, entrepreneurial foundation β3, entrepreneurial decisions β4, and entrepreneurial performance β5, correspond to 6, 3, 2, 0, 5, 6, 4, and 3 measured variables, respectively
Summary
Received 14 September 2021; Revised 19 October 2021; Accepted 25 October 2021; Published 15 November 2021. Digital finance provides an ideal entrepreneurial environment for returning migrant workers (RMWs). From the perspective of entrepreneurs, many scholars have quantified the factors affecting entrepreneurship, as well as the entrepreneurial environment, theorized the importance, motives, and internal/external impactors of RMW entrepreneurship, and put forward quite a lot of countermeasures. Is paper innovatively evaluates how digital finance influences the efficacy of RMW entrepreneurship. The authors established an influencing factor analysis model and an RMW entrepreneurship model and explained principles for the structural equation modeling of the influence of digital finance on RMW entrepreneurship efficacy. A multilayer structural equation model (SEM) was constructed to evaluate the influence of digital finance on RMW entrepreneurship efficacy. E proposed algorithm and model were proved valid and feasible through experiments A multilayer structural equation model (SEM) was constructed to evaluate the influence of digital finance on RMW entrepreneurship efficacy. e proposed algorithm and model were proved valid and feasible through experiments
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