Abstract
Research in entrepreneurship field has magnetized the interest of many researchers as a tool of development for many countries. The study of the factors that leads people to become entrepreneurs has been a question of many researchers. This study explores the relationship between the Big-Five personality factors, contextual factors and entrepreneurial intention. As such, it fits squarely into the literature on the antecedents of entrepreneurship. Previous research has focused on the need for achievement as well as social psychological characteristics such as attitude and self-efficacy. This study looks at the extraversion, conscientiousness, agreeableness, openness, neuroticism, perceived barriers, perceived support and close support which are determinants of entrepreneurial intention. The data was gathered from 123 undergraduate students at one of the university branch campuses in the northern region of Peninsular Malaysia. Data collection was based on voluntary basis, informed consent, and anonymity. Regression analyses indicate that entrepreneurial intention is positively correlated with extraversion, openness, and close support. In the final section, we discuss these results and discover a future research agenda.
Highlights
: Based on the above-mentioned studies and theoretical discussion we can reckon that personal factors such as gender and working experience might have an influence on entrepreneurial intentions
This study provides general support to the relationship between the Big-Five Personality, contextual factors and entrepreneurship intention
This study has shown that there is a difference between students who have taken entrepreneurship course and those who do not in terms of entrepreneurial intention
Summary
Psychological research claims that intentions are a critical predictor of consequent planned behaviour (Bagozzi, Baumgartner & Yi, 1989). Krueger, Reilly & Carsrud (2000) instigate with the presumption that any decision to form a new business venture is planned rather than being a conditioned response. They contrast a model of planned behaviour (Azjen, 1991), in which the potential entrepreneur’s assessment of their own competence or self-efficacy. Bandura (1986) predicts the instigation of a new venture, with Shapero’s (1982) model of the “entrepreneurial event” in which an event, such as job loss, “displaces” the inertia that dominates human behaviour and choice In both models a contrast was made between potential for entrepreneurial activity and intention. On a different tack, Birley and Westhead (1994) find evidence to support a range of motivations, which cover instrumental motivations (wealth), the desire for personal development and the need for approval and esteem. Gatewood, Krueger, Reilly & Carsrud (1995), examine cognitive factors which may influence new venture creation, suggest that external perceptions are stronger for men (perception of a market opportunity) than for women, whereas women are more likely to cite internal explanations (such as the desire to be one’s own boss)
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