Topic: Regional risk appetite culture and local entrepreneurship: evidence based on lottery sales

Lecturer: Assistant Prof. Weiping Li, International School of Business & Finance, SUN YAT-SEN University

Time: 15:30-16:30 p.m. June 8th, 2023

Venue: B310 Zhixin Building, Central Campus

Abstract: This paper studies the influence of regional risk preference on local entrepreneurial activities, and uses the regional data of 31 provinces and autonomous regions and 277 prefecture-level cities in China to conduct an empirical study. The results show that regional risk preference culture can promote local entrepreneurial activity by encouraging individuals to engage in high-risk and high-return activities and easing financing constraints, especially in the establishment of small and medium-sized enterprises and non-high-tech enterprises. At the same time, the high level of economic development, high marketization level and high salary level will weaken the promotion effect of regional risk preference on entrepreneurial activities. This paper holds that the government or local relevant departments should guide the healthy development of the gambling industry, strengthen the regional entrepreneurial activity, and local cultural construction can enable entrepreneurs and related institutions to manage risks reasonably; For specific regions and industries, the dissemination and guidance of correct risk preference culture should be adopted to strengthen its role in promoting entrepreneurship, and the construction of formal and informal institutions should be combined to optimize the entrepreneurial ecology.