Place Identity, Social Capital, and Rural Homestay Entrepreneurship Performance: The Mediating Effect of Self-Efficacy

It is necessary to analyze the entrepreneurial performance mechanism of rural homestays to improve farmers' incomes under the strategy of rural revitalization in China. This study constructs a mechanism model, in which place identity and social capital are antecedent variables and entrepreneurial self-efficacy is an intermediary variable. Three hundred and fifty five valid samples were collected from rural homestayers in suburban areas of Beijing. A structural equation modelling by Mplus was conducted for path-analysis and also a mediating effects test to verity the theoretical model. The results demonstrate that place identity has no significant effect on entrepreneurial performance, while social capital and entrepreneurial self-efficacy do have. In fact, place identity and social capital have significant positive effects on entrepreneurial self-efficacy. Entrepreneurial self-efficacy plays a complete mediating role in the relationship between place identity and farmers' entrepreneurial performance, and a partial mediating role in the relationship between social capital and farmers' entrepreneurial performance. Under the background of rural revitalization, the conclusions of this study provide a theoretical basis for improving the farmer's entrepreneurial performance and have certain practical management significance.