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本文基于中国综合社会调查CGSS(2013)的微观数据,对中国创业的货币回报率进行研究,在利用处理效应模型纠正自选择偏误的情况下,实证发现创业者的年收入显著高于就业者,但创业者也面临更大的收入不确定性。本文利用分位数回归探索了创业回报率的异质性,发现比较成功的创业者的回报率明显高于不太成功的创业者。这些结果表明,创业并非就业的次优替代品,也意味着中国社会存在大量创业机遇。同时,制定扶持中小创业者的公共政策是实现大众创业、万众创新的必要举措。
Based on the microcosmic data of China General Social Survey CGSS (2013), this paper studies the monetary rate of return of China’s start-ups and finds that employers’ annual income is significantly higher than that of employed persons , But entrepreneurs also face greater uncertainty about their earnings. This paper uses quantile regression to explore the heterogeneity of the rate of return on entrepreneurship and found that the rate of return of more successful entrepreneurs is significantly higher than that of less successful entrepreneurs. These results show that entrepreneurship is not a suboptimal substitute for employment and that there is still a great deal of entrepreneurial opportunity in Chinese society. At the same time, formulating public policies to support small and medium-sized entrepreneurs is a necessary measure for realizing common prosperity and entrepreneurship.