Impact of endowments and risk coping capacity on the willingness of homestead withdrawal：Based on a survey of 6754 farming households in Jiangsu Province

Abstract

[Objective] Examining farming households’ homestead withdrawal willingness by considering the endowment effect and risk coping capacity has great significance for deepening homestead reform in China. [Methods] This study constructed a theoretical framework based on endowment effect, risk coping capacity, and homestead exit willingness, and used a mediation effect model to analyze the mediation effect of endowments on the impact of risk coping capacity on homestead exit willingness, used the threshold model to analyze the double threshold effect of risk coping capacity on homestead exit willingness, and explored the differences in the mediation role of endowments at each level of risk coping capacity. [Results] (1) The endowment effect has a significant negative impact on the willingness to withdraw from the homestead through the three paths of subject attachment, object dependence and uncertainty perception; (2) The impact of risk carrying capacity on the willingness to withdraw from the homestead has a double threshold effect. When the risk carrying capacity is between the two threshold values, the impact on the willingness to withdraw from the homestead is positive, and when it is too low or too high, the impact on the willingness to withdraw from the homestead is negative; (3) Endowment effect plays an intermediary role in the impact of risk carrying capacity on the willingness to withdraw from homestead. Among them, the order of mediating effect from large to small is homestead irreplaceability, psychological ownership and uncertainty perception; (4) In the process of accumulation of risk coping capacity, the mediation effect of endowments experienced the change of complete mediation-partial mediation-non-mediation, indicating that the accumulation of risk coping capacity helps to weaken the mediation effect of endowments. [Conclusion] The government should clarify the group of farmers with moderate risk carrying capacity, improve the mobilization and demonstration mechanism of homestead exit, improve the level of farmers’ policy cognition, improve the guarantee mechanism of farmers’ risk carrying capacity, and promote the transformation of homestead exit to people-oriented.

Keywords

• |endowments|risk coping capacity|homestead withdrawal willingness|mediation effect|threshold effect|jiangsu province