Cultural friction in economic transition: evidence from zodiac year beliefs and entrepreneurial delay in post-communist China
Shuzhen Liang,
Shuoyan Lin,
Xin Gu,
Boyi Cao,
Dandan Song and
Yin Shi
Post-Communist Economies, 2025, vol. 37, issue 7, 815-839
Abstract:
Traditional theories of entrepreneurship often ignore a significant factor: superstition. Utilising data from the China Household Finance Survey (CHFS), this paper investigates the impact of zodiac year superstition on individual entrepreneurship. The findings reveal that respondents in their zodiac year are unwilling to start a business. The zodiac year superstition impacts individual entrepreneurship through two primary channels: the preference effect, and the financial constraint effect. Geographically, the zodiac year superstition has a more pronounced inhibitory effect on entrepreneurship in rural areas and southern China. When examining individual characteristics, the negative impact of the zodiac year superstition is more pronounced among females, non-CPC members, older individuals, and those with lower levels of education. As such, addressing prevalent superstitions may serve as a constructive strategy for promoting individual entrepreneurship, which is conducive to the Chinese government to formulate relevant policies to promote China’s economic growth and sustainable development.
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:taf:pocoec:v:37:y:2025:i:7:p:815-839
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DOI: 10.1080/14631377.2025.2496849
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