Barriers to entrepreneurial intention among students of economics and management in Ho Chi Minh City

Abstract

This study aims to investigate the effects of barriers on entrepreneurial intention among Economics and Management students in Ho Chi Minh City and then analyze and evaluate the impact of these barriers. The authors used 3 main models: Entrepreneurial Event Model – EEM, Model of Implementing Entrepreneurial Ideas, and Theory of Planned Behavior – TPB. The data were collected from 312 students at Economics and Management universities in Ho Chi Minh City. Next, the authors employed quantitative methods such as descriptive statistics, exploratory factor analysis (EFA), confirmatory factor analysis (CFA), HTMT test, structural equation modeling (SEM), Bootstrapping, and Kruskal - Wallis test using SPSS 20 and AMOS 24 softwares. The results showed that 4 independent variables had an effect on entrepreneurial intention, including Mental Barriers, Market Barriers, Educational Environment Barriers, and Knowledge Barriers. Particularly, Mental Barriers were seen as the most influential barriers to entrepreneurial intention. It was implied that the spirit, knowledge, and business environment were really a concern for students in the start-up stage, and educational background such as knowledge and encouragement of teachers also affected the entrepreneurial intention of Economics and Management students. Additionally, there were 5 groups with statistically significant differences in the students’ Entrepreneurial Intentions: (1) Gender, (2) School year, (3) University, (4) Major, and (5) Parents' careers. The study has filled a research gap by providing important insights into the barriers to entrepreneurial intention among Economics and Management students in Ho Chi Minh City. In practical terms, it helps students recognize obstacles and how to overcome them when making decisions while establishing a business. This study also provides educators and policymakers with solutions and governance implications for driving students' entrepreneurial intentions.