The Direct Role of Anticipated Regret in the Formation of Student’s Entrepreneurial Intention

Abstract

The most widely used entrepreneurial intention models explain only cognitive motivational factors. However, psychological studies reveal that emotional factors and counterfactual thinking such as anticipated affect also explain the intention and then behaviour. The objective of this research is to identify the role of anticipated regret in forming students’ entrepreneurial intentions. To test the hypotheses of the conceptual model integrating anticipated regret among the antecedent motivational factors to entrepreneurial intention, a hierarchical regression technique has been adopted. Data have been collected from 266 students in management degree. Our results show that anticipated regret, as well as attitude towards business start-up and perceived behavioural control, have a direct and positive influence on entrepreneurial intention described in the theory of planned behaviour. This study contributes to extend prior cognition-based explanations of the origin of earlier stages in an entrepreneurial journey.