Abstract: Although returnee entrepreneurs possess outstanding resource endowments and enjoy abundant political policy supports, the entrepreneurial funding activity are still the primary challenge for them. Because capital market is rational, returnee entrepreneurs cannot absorb investments only based on their status as “returnee”. Therefore, they may encounter difficulties during funding activities. According to expectancy violation theory, this paper regards difficulties of entrepreneurial funding as funding expectancy violation, and tests the negative effect of funding expectancy violation on the satisfaction of the entrepreneurial funding environment. Additionally, we find that there exists a halo effect that funding expectancy violation is associated with other entrepreneurial environments. Funding expectancy violation can decrease returnee entrepreneurs’ satisfactions of the policy support environment and the infrastructure environment. It is indicated that difficulties of funding activities will also lead returnee entrepreneurs to blaming to the government and the construction of infrastructure . This paper contributes to expectancy violation literatures, and then provides another explanation of the reason why returnee entrepreneurs dissatisfy with the government.