关键词: 海归, 创业, 人力资本, 技术资本

Abstract: An increasing inflow of overseas students choose to return to China for career development. The number of returnees in the recent six years has reached over 1.1 million, three folds of that of prior 30 years combine. Returnees business startups help promote China's economic development. To encourage returnees’ business venture, Chinese government has introduced a number of policies. It is important to investigate factors that can affect the returnees’ entrepreneurial intention. This paper is based on the data jointly surveyed on returnees by Peking University’s Guanghua School of Management and the Center for China and Globalization. There were 288 samples selected from this survey conducted from late 2011 to early 2012. In this paper, we focus on returnees’ human capital and technological capital of returnees, and examine the impact of these capitals on returnees’ intention to do business. The paper shows that the probability of returnees’ intention to do business is significantly and positively correlated to three factors: (1) returnees’ education degree that earned overseas, (2) business model brought from overseas, and (3) whether the business to be in the secondary industry; their marginal effects respectively were 52.26%, 30.93%, and 44.23%. The study can be improved if variables, such as returnees psychological characteristics and natures of domestic business environment, available.