HONG KONG SAR –\u00a0Media
\u00a0<\/p>\n The study found that entrepreneurs who migrated from rural
One of their key findings is that,
\u00a0<\/p>\n In modern China, the great urban
\u00a0<\/p>\n “Migrating from the countryside
\u00a0<\/p>\n Migration and Risk-taking<\/b><\/p>\n While most existing migration
\u00a0<\/p>\n In the study, the researchers
\u00a0<\/p>\n The Role of Universities<\/b><\/p>\n The researchers sought to explain
\u00a0<\/p>\n According to Prof. Wu, apart from
\u00a0<\/p>\n According to researchers, the
Overall, the study finds that rural
\u00a0<\/p>\n The study notes that universities
\u00a0<\/p>\n Regional Policy Implications<\/b><\/p>\n To stay in the city or to go back
\u00a0<\/p>\n Furthermore, she explains that
\u00a0<\/p>\n The majority of people who have
\u00a0<\/p>\n “But, as our research finding
\u00a0<\/p>\n Reference:<\/b><\/p>\n You (Willow) Wu & Charles E. Eesley (2021) Regional migration,
\u00a0<\/p>\n This article was first published in the China Business Knowledge (CBK)
HONG KONG SAR –\u00a0Media
OutReach\u00a0–\u00a011 November 2021 – Big cities are where dreams thrive.
Their cosmopolitan allure, together with the sweet smell of financial
opportunity, have driven waves of migration to population centres throughout
human history. In the modern era, one such narrative is continuing to rapidly
unfold in China, where there were an estimated …<\/p>\n","protected":false},"author":1,"featured_media":18742,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/18741"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=18741"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/18741\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media\/18742"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=18741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=18741"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=18741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nOutReach<\/a>\u00a0–\u00a011 November 2021 – <\/b>Big cities are where dreams thrive.
\nTheir cosmopolitan allure, together with the sweet smell of financial
\nopportunity, have driven waves of migration to population centres throughout
\nhuman history. In the modern era, one such narrative is continuing to rapidly
\nunfold in China, where there were an estimated 286 million<\/a>
\nrural migrant workers in 2020, accounting for more than one-third of the entire
\nworking population in the country, and coinciding with a rapid rise in
\nentrepreneurial activity. This coming together of two dramatic shifts has
\nafforded a group of researchers an opportunity to look at how urban migration
\nhas helped to drive entrepreneurship in China, especially through the prism of
\nthe role of universities in churning out a steady supply of well-educated and
\ninnovative talent.<\/p>\n![](\"https:\/\/images.media-outreach.com\/Thumb\/500x0\/195120\/CUHK.jpg#image-195120\")
<\/div>\n
\nChina to big cities such as Shanghai were more risk-taking.<\/i><\/p>\n
\nin China, people who migrated from rural areas and attended university in big
\ncities are more likely to set up businesses that are bigger in size.<\/p>\n
\nmigration kicked off in the 1980s as a result of economic reforms instituted at
\nthe time. Millions of rural migrants flocked to cities, such as Shenzhen and
\nDongguan, to take up jobs in factories. Entrepreneurship was considered
\nrelatively less common among rural migrants. Nonetheless, some of the most
\nfamous Chinese entrepreneurs had rural roots. For instance, Liu Qiangdong \u2013 the
\nfounder of JD.com was born in a small village in Jiangsu province and later
\nwent to study at a university in Beijing. Another example is Ma Huateng, also
\nknown as Pony Ma, who founded one of Asia’s most valuable conglomerates,
\nTencent. Mr. Ma was born in a small town in Guangdong province and went to
\nschool in Shenzhen, where he founded the multinational conglomerate.<\/p>\n
\nto the city can be a challenging task for individuals not only because of the
\nphysical distance, but also the large cultural gap they would likely experience
\nupon relocating,” says Willow Wu You<\/a>,
\nAssistant Professor in the Department of Management at The Chinese University
\nof Hong Kong (CUHK) Business School. “But in a sense, it’s something that
\nhas helped to drive the rise of private entrepreneurial activity in China and
\nallowed the country to maintain the growth it has experienced in recent years.”<\/p>\n
\nresearch studies focus on the variety that crosses international borders, Prof.
\nWu and her research partner Prof. Charles Eesley at Stanford University looked
\nat the effect of urban migration within a country on entrepreneurship in their
\nstudy Regional Migration, Entrepreneurship and University Alumni<\/a>. The two scholars conducted a survey among university
\nalumni from Tsinghua University and analysed the entrepreneurial experience of
\n283 business founders among those alumni. They found that entrepreneurs who
\nmigrated from rural China to big cities in the country were more risk-taking,
\nand with the access to better entrepreneurial opportunities and resources that
\ncomes with relocating to an urban environment, they are likely to establish
\nbigger companies.<\/p>\n
\nexamined whether the rural migrants were indeed more risk-taking by directly
\nasking their opinions on the concerns of starting a company in the survey. They
\ndiscovered that the rural migrants were less risk averse than urban dwellers,
\namong both entrepreneurs and non-entrepreneurs. Among non-entrepreneurs, only
\n36.1 percent of rural migrants considered entrepreneurship too risky, whereas
\n45.8 percent of urban dwellers expressed similar concerns. Among entrepreneurs,
\nthe percentage is 7.4 percent for rural migrations and 19.0 percent for urban
\ndwellers. In addition, the study results show that urban migration is
\npositively and significantly associated with the likelihood of founding larger
\ncompanies.<\/p>\n
\nthis phenomenon through the role of universities, noting that they are
\nuniversally well-regarded for their important role in supplying talent that are
\nneeded to drive business and innovative performance. They posit that if
\nentrepreneurship is the force and process of continuous change that drives
\ninnovation, as famously stated by the Austrian economist Joseph Schumpeter,
\nthen universities are a crucial channel through which this force can be
\ndirected to produce the most benefit for an economy. “If entrepreneurship
\nrepresents the winds of creative destruction as suggested by Schumpeter,
\nuniversities may play a role in directing those winds via their influence on
\nregional migration,” Prof. Wu says.<\/p>\n
\nproviding social support for rural migrants, the universities that these
\nmigrant students attended allow them to become anonymous and reinvent
\nthemselves by creating new connections in the urban areas where they settle. By
\ndoing this, migrant entrepreneurs become more willing to take risks because
\nthey have fewer worries over stigma from failure, which may happen if they were
\nstarting businesses in their hometowns.<\/p>\n
\nuniversities that migrant students attend allow them to become anonymous and
\nreinvent themselves by creating new connections in the urban areas where they
\nsettle.<\/p>\n
\nmigrant entrepreneurs tend to build larger companies because of their
\nrisk-seeking attitudes and the access to better entrepreneurial resources in
\ncities. Contrary to earlier management research that suggest entrepreneurs tend
\nto create their companies close to home, the study shows that the likelihood of
\nbuilding a bigger firm is higher among university graduates who migrated from
\nrural areas compared to non-migrant university graduates. Specifically, entrepreneurs
\nwho chose to start tech startups in science parks were likely to form companies
\nwith the largest number of employees (i.e. within the top 25 percent).
\nEntrepreneurs who chose to start their firms in special economic zones hire the
\nsecond largest number of staff (i.e. between the top 50 percent and the top 25
\npercent).<\/p>\n
\nhave an important role to play in fostering entrepreneurship by redistributing
\ntalent through providing college education opportunities to rural students. In
\nparticular, the risk-taking attitude among the alumni and the social network
\nresources provided by universities are crucial to the success of rural migrant
\nentrepreneurs.<\/p>\n
\nhome is a common question faced by many students who moved from small towns to
\nmajor cities for college education upon graduation. Prof. Wu says their
\nfindings raised an important question of whether migrant students should be
\nencouraged to return to their hometowns or to remain in an urban setting to try
\nto be more successful in their careers.<\/p>\n
\nuniversities in urban areas, together with interconnected businesses and
\ninstitutions, attract highly talented and risk-taking migrants and import them
\nin the form of students, which then benefit the areas that the universities are
\nlocated. But, as talented migrants are being attracted to just a few major
\ncities, smaller cities would suffer due to lower growth in entrepreneurship.
\nFor policymakers, the research findings provide useful implications in how to
\npromote economic growth by talent mobility.<\/p>\n
\npotential to become entrepreneurs live outside the big innovation hubs like
\nShenzhen. The current policy direction is either to retain these
\nentrepreneurial spirits in the regions where they hail from or to bring down
\nmigration from rural regions to urban areas. Earlier rural migrants supported
\nthe economic growth by providing low-cost labour.<\/p>\n
\nshows, rural migrants can also become very successful entrepreneurs. That’s why
\npolicies that can promote some sort of interregional mobility may be more
\nbeneficial for local economies,” Prof. Wu says, adding that adapting
\nuniversities programmes and course content to provide support to rural migrants
\nmay help more of them become successful entrepreneurs.<\/p>\n
\nentrepreneurship and university alumni, Regional Studies, DOI: 10.1080\/00343404.2021.1934432<\/a><\/p>\n
\nwebsite by CUHK Business School: https:\/\/bit.ly\/3EXYvdM<\/a>.<\/p>\n<\/p><\/div>\n\n
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