The effects of need for cognition, gender, risk preferences and marketing education on entrepreneurial intentions

Abstract

Purpose Entrepreneurial aspirations are essential to the creation and survival of many businesses and to the economic development of nations. Understanding the drivers of entrepreneurial intentions is therefore of central importance from both academic and public policy perspectives. This study aims to explore how entrepreneurial intentions are affected by an individual’s need for cognition (NFC), gender, risk preferences and educational profile. Design/methodology/approach Using survey data from 668 individuals, the effects of the above factors are empirically established and the mediating role of decision confidence is also examined. Findings The results indicate that NFC, gender and risk preferences affect entrepreneurial intentions. Furthermore cross-disciplinary differences in entrepreneurial intentions are found within the different sub-disciplines of business. Research limitations/implications This paper expands the current body of literature by exploring the combined NFC with risk preferences and gender, on individuals’ entrepreneurial intentions. Furthermore, the entrepreneurial intentions of marketing majors are also contrasted with those of other majors. Practical implications The findings of the study identify drivers of entrepreneurial intentions and their varying effects. The results can assist in the development and customization of training programs for entrepreneurs. Originality/value To the best of the author’s knowledge, this is the first study to examine the combined effects of NFC, gender, risk preferences and educational profile on entrepreneurial intentions.