Using Risk System Theory to Explore Farmers' Intentions towards Rural Homestead Transfer: Empirical Evidence from Anhui, China

In China, rural homesteads are strategic elements for coordinating the people and land resources relationship between urban and rural regions and are powerful means for increasing the property income of farmers. The rural homestead transfer issue has always concerned policymakers. In this paper, the risk system theory framework is employed to identify risk source (risk perception), risk control (the control measures and institutions), and risk receptor (farmers' characteristics) to explore farmers' intentions towards rural homestead transfer from the perspective of first- and second-order observation. The results demonstrate that farmers' intentions are significantly affected by risk source from first-order observation, and risk control and risk receptor from second-order observation. The heterogeneity of outcomes is examined by grouping of ages and regions of sampled farmers. It is suggested that the risk perception needs of farmers should be respected, land tenure of rural homesteads should be tightly protected, and farmers' characteristics should be of great concern. Moreover, more attention should be paid to idle homesteads, and full advantage taken of rural resources to develop featured rural industries.