Four-factor Model Research Articles

Limit to Arbitrage and Distress Risk Puzzle in Vietnam: Does Corporate Bankruptcy Regulation Matter?

This study is the first to examine how limit-to-arbitrage factors impact the distress risk puzzle in Vietnam before and after implementing bankruptcy regulations. Our research utilizes asset pricing models, portfolio sorting methodologies, and the Fama and French four-factor model to analyze an unbalanced panel with 35,255 firm-month observations from non-financial firms in the Vietnam stock market from 2008 to 2021. We find a persistent negative correlation between distress risk and corporate profitability, even after accounting for limit-to-arbitrage factors. Notably, this trend is more pronounced among larger firms. Intriguingly, the distress risk puzzle disappears after the introduction of bankruptcy regulations. Additionally, we observe that limit-to-arbitrage factors suppress stock returns due to mispricing issues, supporting liquidity risk theory. Our study provides valuable insights into the distress risk puzzle, especially in emerging markets. JEL Classification: G11, G12, G14.

A Scale for Measuring Electronic Patient Engagement Behaviors: Development and Validation.

Advancements in electronic health (eHealth) technology have profoundly impacted patient engagement. This study aimed to develop and validate the Electronic Patient Engagement Behavior (EPEB) scale to measure the conceptual and underlying framework of patient engagement behaviors in an eHealth context. Initial measurement items were generated based on a literature review and qualitative research. Two rounds of surveys, a pilot survey and validation survey, were conducted to evaluate the psychometric properties of the scale. The EPEB scale consists of 15 items in four dimensions: disease information search, physician-patient interaction, social interaction between patients, and disease self-monitoring. In the pilot survey, the exploratory factor analysis revealed a four-factor model, explaining 69.411% of variance. In the validation survey, the Cronbach's α coefficient of each sub-scale was 0.865, 0.904, 0.904, and 0.900 respectively. The Spearman-Brown split coefficient of the scale was 0.963. The results of the cross-sex measurement equivalence test indicate that all fit indices met the measurement criteria. The confirmatory factor analysis indicated second-order 4-factor model fit the data well. The EPEB has a good reliability and validity. The EPEB scale provides a reliable tool for measuring patient engagement behaviors in the eHealth context. The utilization of this scale may yield valuable insights into strategies for enhancing patient engagement and optimizing health outcomes.

480 Neuropsychiatric Symptom Clusters in behavioral variant frontotemporal dementia: The Role of Early Anxiety/Depression on Functional Progression

OBJECTIVES/GOALS: To identify empiric neuropsychiatric symptom (NPS) clusters in behavioral variant frontotemporal dementia and to determine the role of early anxiety/depression on functional progression. METHODS/STUDY POPULATION: Analyses were conducted using data from the ARTFL-LEFFTDS Longitudinal Frontotemporal Lobar Degeneration (ALLFTD) study, an established consortium with an ongoing cohort study of FTD patients across 18 clinical sites which includes comprehensive cognitive, neuropsychiatric, and structural neuroimaging data. A polychoric cluster analysis was performed on subjects from the ALLFTD cohort [applewebdata%3A//044E463E-34DA-4677-9EDC-B8309D14C337#_msocom_1] with early-stage disease (N=145, male 61%, median age 62 years) in order to identify empiric NPS clusters. Cox proportional hazard regression was then used to examine the association between early affective symptoms in bvFTD and subsequent functional disabilities adjusted for age, sex, level of education, and FTLD CDR global score. RESULTS/ANTICIPATED RESULTS: We identified a four-factor model as the best fit for the data: (1) an affective cluster with prominent depression, anxiety, agitation, and irritability, (2) a disinhibited symptom cluster with prominent elation and disinhibition, (3) an obsessive symptom cluster with prominent obsessive/ritualistic behavior and hyperorality, and (4) a psychotic symptom cluster with prominent delusions and hallucinations. The hazard of developing impairments in transactions, language, self-care, meal preparation, and incontinence was significantly elevated in those with early affective symptoms (depression/anxiety). DISCUSSION/SIGNIFICANCE: In this study we show that, NPS cluster into four discrete groups: (1) affective symptoms, (2) disinhibited symptoms, (3) obsessive symptoms, and (4) psychotic symptoms. Anxiety and depression are prominent within the affective symptom cluster and are associated with accelerated functional decline in a number of domains.

한국 고등학생 진로구성척도(K-SCCI) 타당화

Purpose: The purpose of this study was to adapt the Student Career Construction Inventory (SCCI) developed by Savickas et al. (2018) into Korean and validate it with Korean high school students.
 Methods: Data were collected from 713 high school students enrolled in general education high schools in Seoul and Gyeonggi Province, and the data were analyzed using item content analysis, exploratory factor analysis, confirmatory factor analysis, and quasi-test of validity.
 Results: As a result of item content analysis and exploratory factor analysis, the Korean High School Career Constructs Inventory (K-SCCI) was structured into four factors: Crystallizing a vocational self-concept, exploring occupations, making decisions, and preparing. A confirmatory factor analysis was conducted to verify the goodness of fit of the four-factor model, and a correlation analysis with career adapting was conducted to verify its validity.
 Conclusion: The Korean High School Student Career Construct Inventory (K-SCCI), which was validated in this study for Korean high school students in the humanities, consists of 18 items with four sub-variables: Crystallizing a vocational self-concept, exploring occupations, making decisions, and preparing.

Novel peripheral blood mononuclear cell mRNA signature for IFN-beta therapy responsiveness prediction in multiple sclerosis

Interferon-beta (IFN- β ) is one of the classical drugs for immunomodulatory therapy in relapsing-remitting multiple sclerosis (RRMS) patients, but the drug responsiveness of different patients varies. Currently, there is no valid model to predict IFN- β responsiveness. This research attempted to develop an IFN- β responsiveness prediction model based on mRNA expression in RRMS patient peripheral blood mononuclear cells. Peripheral blood mononuclear cell mRNA expression datasets including 50 RRMS patients receiving IFN- β treatment were obtained from GEO. Among the datasets, 24 cases from GSE24427 were included in a training set, and 18 and 9 cases from GSE19285 and GSE33464, respectively, were adopted as two independent test sets. In the training set, blood samples were collected immediately before first, second, month 1, 12, and 24 IFN- β injection, and the mRNA expression data at four time points, namely, two days, one month, one year and two years after the onset of IFN- β treatment, were compared with pre-treatment data to identify IFN-stimulated genes (ISGs). The ISGs at the one-month time point were used to construct the drug responsiveness prediction model. Next, the drug responsiveness model was verified in the two independent test sets to examine the performance of the model in predicting drug responsiveness. Finally, we used CIBERSORTx to estimate the content of cell subtypes in samples and evaluated whether differences in the proportions of cell subtypes were related to differences in IFN- β responsiveness. Among the four time points, one month was the time point when the training set GSE24427 and test set GSE33464 had the highest number of ISGs. Functional analysis showed that these one-month ISGs were enriched in biological functions such as the innate immune response, type-I interferon signalling pathway, and other IFN- β -associated functions. Based on these ISGs, we obtained a four-factor prediction model for IFN- β responsiveness including MX1, MX2, XAF1, and LAMP3. In addition, the model demonstrated favourable predictive performance within the training set and two external test sets. A higher proportion of activated NK cells and lower naive CD4/total CD4 ratio might indicate better drug responsiveness. This research developed a polygene-based biomarker model that could predict RRMS patient IFN- β responsiveness in the early treatment period. This model could probably help doctors screen out patients who would not benefit from IFN- β treatment early and determine whether a current treatment plan should be continued.

Internal Factor Structure and Convergent Validity of a Perceived Partner Violence Scale in Peruvian Adults: Bifactor Model of Emotional, Physical, and Sexual Abuse and Sexual Manipulation

Intimate partner violence is a social problem that requires appropriate instruments for its correct and accurate assessment. The aim of this study was to construct and report evidence of the psychometric properties of the Perceived Partner Violence Scale. Four samples were selected using nonprobability sampling. An exploratory factor analysis (EFA) was performed with the first sample. With the second sample, a confirmatory factor analysis (CFA) and validity testing based on the relationship with loneliness and self-esteem were carried out. With the third sample, validity was assessed based on the relationship with emotional dependence. With the fourth sample, validity was analyzed in relation to love compatibility. Robust methods such as the robust maximum likelihood method were used for the hierarchical models (bifactor model and second-order model), and diagonally weighted least squareswere used for the nonhierarchical models (correlated factor model, uncorrelated factor model, and unidimensional model). Validity tests report adequate fit indices in the EFA and CFA for a four-factor model (emotional violence, physical violence, sexual abuse, and sexual manipulation) as well as validity based on the relationship with other variables (self-esteem, loneliness, emotional dependence, and love compatibility). Robust alpha and omega estimators indicate acceptable internal consistency.

Evaluating the cross-cultural competence instrument for healthcare professionals (CCCHP) among nurses in Okinawa, Japan

BackgroundTo provide better quality healthcare services to patients with different linguistic and cultural backgrounds, the cross-cultural competence of medical professionals is important. However, assessing and improving the cross-cultural competence of healthcare professionals is difficult in Japan, as there is no standardized scale to measure the competence. This study’s purpose was to translate the Cross-Cultural Competence instrument for Healthcare Professionals (CCCHP), which was developed and used in Europe, and to examine its reliability and validity among Japanese nurses.MethodsDuring June and July 2021, nursing staff were invited to take web- and paper-based surveys in Okinawa Japan. The CCCHP (five-factor model with 27 items across motivation, attitude, skills, emotion, and knowledge) was translated using a combination translation method, and a five-point Likert scale was used for responses. Exploratory and confirmatory factor analyses and known-group method were used to examine structural validity, while Cronbach’s alpha coefficient was used to test reliability.ResultsA total of 294 responses were analyzed; 77.2% had more than five years of experience. Since the fit index indicated that the five-factor model was not a good fit, it was modified to a four-factor model (J-CCCHP24) by moving three variables, removing the knowledge factor, and using the error covariance of the variables. The fit index after the modification was improved to comparative fit index (CFI) = 0.92, Tucker-Lewis index (TLI) = 0.91, root mean square error of approximation (RMSEA) = 0.05, and standardized root mean square residual (SRMR) = 0.06, and Cronbach’s alpha was 0.85. The mean scores of J-CCCHP24 were significantly higher in the group with a history of overseas travel, higher foreign language skill, training in intercultural care, experience of foreign patient care, and intercultural interactions outside the workplace than in the group without these characteristics.ConclusionThis study confirmed the validity and reliability of the modified Japanese version of the CCCHP (four-factor model with 24 items). The results suggest that the exposure to different cultures on a personal level may help improve nurses' cross-cultural competence. Further refinement of this scale for practical use would encourage the implementation of necessary countermeasures to improve the cross-cultural competence of Japanese healthcare professionals.

A psychometric study of the revised Chinese version of the family resilience assessment scale among children disadvantaged due to family migration

ObjectiveThe family system is important for children's development. Previous research has demonstrated that some families are able to maintain good adaptability or resilience in the face of stressors. This study aimed to develop the revised Chinese version of the Family Resilience Assessment Scale and examine the psychometric properties of the scale among children disadvantaged in adversity due to family migration. MethodsA total of 1487 children (47.6 % girls) from disadvantaged families participated in this study, whom completed the revised Chinese version of the Family Resilience Assessment Scale, the Chinese version of the Connor-Davidson Resilience Scale, and the Center for Epidemiologic Studies Depression Scale for Children. Results(1) Good language equivalency was found (Intraclass Correlation Coefficient = 0.96); (2) Item analysis indicated that the critical ratio values of all 45 items were above 0.30 (p < 0.001), except for 7 items that were dropped from further analysis; (3) The exploratory factor analysis indicated that the best model was four-factor model; (4) The confirmatory factor analysis showed that the four-factor model had good model fit; (5) Family resilience was significantly correlated with personal resilience and depression; (6) The internal consistency reliability of the scale was 0.95. ConclusionsThis study confirmed that the revised Chinese version of the Family Resilience Assessment Scale was a reliable and valid instrument to assess family resilience of Chinese children who are disadvantaged.

The real return of unicorns: What do we know?

ABSTRACT In the world of start-ups, the so-called unicorns have gained special importance and there are many questions about the real attractiveness of these companies when they go public. This research aims to show the effect of an initial public offering of shares (IPO) on the value of unicorn companies. To do so, a four-factor CAPM model was built using data on unicorn and non-unicorn companies to show whether differences exist between both groups. The results indicate that unicorns are punished by the stock market in comparison to non-unicorn companies, which is indicative that private agents may misvalue unicorns and/or unicorns may lose some of their distinctive features once they go public.

Validation of the Sibling Perception Questionnaire in healthy siblings of children with chronic illnesses.

The purpose of the study was to assess the psychometric properties of the parent-report version of the Sibling Perception Questionnaire (SPQ) in well-siblings. Participants were 200 caregivers of healthy children ages 9-17 years who had a sibling (ages 0-18 years) diagnosed with cancer, diabetes, cystic fibrosis, epilepsy, spina bifida, or congenital heart disease. The SPQ had acceptable internal consistency reliability for the total score (α = 0.83) and displayed acceptable convergent validity as evidenced by medium to large positive correlations with the Strengths and Difficulties Questionnaire and Pediatric Quality of Life Inventory 4.0 (r's ranged from 0.39 to 0.56). The original four-factor model displayed a poor model fit (CFI = 0.6, RMSEA = 0.11, TLI = 0.55, SRMR = 0.14) in comparison to a revised, 14-item four-factor model (CFI = 0.92, RMSEA = 0.07, TLI = 0.90, SRMR = 0.06). The shortened, 14-item parent-report version of the SPQ largely demonstrated good psychometric properties and has the potential to reduce the burden of caregivers filling out the measure.

The Neurobehavioral Symptom Inventory: Psychometric Properties and Symptom Comparisons in Women With and Without Brain Injuries Due to Intimate Partner Violence.

This study psychometrically evaluated the Neurobehavioral Symptom Inventory (NSI) among women survivors of intimate partner violence (IPV) and compared symptoms between women with no brain injury history (n = 93) and women with IPV-related brain injury history (n = 112). Women completed the NSI and questionnaires on traumatic brain injury (TBI), hypoxic-ischemic brain injury (HI-BI), and lifetime IPV history. A four-factor NSI model, including affective, somatosensory, cognitive, and vestibular factors, had the best fit (comparative fit index = 0.970, root mean square error of approximation = 0.064), with strong reliability for the total score (ω = .93) and subscale scores (ω range = .72-.89). In group comparisons, women with IPV-related brain injuries reported greater total, affective, and cognitive symptom severity after adjusting for age and education; however, no group differences were observed after adjusting for IPV severity. When examining lifetime number of brain injuries, HI-BI count was independently predictive of total, cognitive, and vestibular symptom severity after adjusting for age, education, and IPV severity; whereas TBI count did not independently predict any NSI scores after adjusting for these covariates. The NSI had acceptable psychometric properties for measuring neurobehavioral symptoms among women survivors of IPV. The association between HI-BI count and cognitive and vestibular symptoms may indicate the importance of studying repetitive nonfatal strangulation as an injury mechanism in this population.

Psychometric Assessment of the Rett Syndrome Caregiver Assessment of Symptom Severity (RCASS).

Rett syndrome is a severe neurodevelopmental disorder that affects about 1 in 10,000 females. Clinical trials of disease modifying therapies are on the rise, but there are few psychometrically sound caregiver-reported outcome measures available to assess treatment benefit. We report on a new caregiver-reported outcome measure, the Rett Caregiver Assessment of Symptom Severity (RCASS). Using data from the Rett Natural History Study (n = 649), we examined the factor structure, using both exploratory and confirmatory factor analysis, and the reliability and validity of the RCASS. The four-factor model had the best overall fit, which covered movement, communication, behavior, and Rett-specific symptoms. The RCASS had moderate internal consistency. Strong face validity was found with age and mutation type, and convergent validity was established with other similar measures, including the Revised Motor-Behavior Assessment Scale, Clinical Severity Scale, Clinical Global Impression Scale, and the Child Health Questionnaire. These data provide initial evidence that the RCASS is a viable caregiver-outcome measure for use in clinical trials in Rett syndrome. Future work to assess sensitivity to change and other measures of reliability, such as test-retest and inter-rater agreement, are needed.

Proposed Specifiers for Conduct Disorder (PSCD): Further validation of the parent-report version in a nationally representative U.S. sample of 10- to 17-year-olds.

The Proposed Specifiers for Conduct Disorder (PSCD; Salekin & Hare, 2016) is a new self-report and informant measure designed to assess psychopathic characteristic domains along with symptoms of conduct disorder in youth. Previous factor analytic studies on the PSCD have found that the items are accounted for by a four-factor model reflecting grandiose-manipulative, callous-unemotional, daring-impulsive, and conduct disorder (CD) symptoms. The present study examined the factor structure, psychometric properties, and criterion-related validity of the parent-report version of the PSCD (PSCD-P) in a nationally representative U.S. sample of children and adolescents (N = 1,091, Mage = 13.39, SD = 2.20, range age = 10-17; 50.0% boys, 76% White). Confirmatory factor analyses for the full (24-item) and a shortened (13-item) PSCD-P revealed good internal reliability estimates and support for the four-factor model (grandiose-manipulative, callous-unemotional, daring-impulsive, CD). Results also provided evidence for (a) measurement invariance of the PSCD-P items across sex, race/ethnicity, and age of the child; (b) convergent validity with CD/oppositional defiant disorder symptoms and discriminant validity with a measure of neuroticism; and (c) criterion-related validity with respect to prosociality, peer and family functioning, reactive and proactive aggression, delinquency, academic performance, and substance use. The prevalence for psychopathic personality propensity was found to be 2%. We discuss clinical and research implications regarding the use of the parent-report version of the PSCD for school-aged children. (PsycInfo Database Record (c) 2024 APA, all rights reserved).

Validation of the Italian version of the Dark Tetrad at Work scale.

This study presents and validates the Italian adaptation of the Dark Tetrad at Work (DTW) scale, an instrument for assessing four socially aversive personality traits (narcissism, Machiavellianism, psychopathy and sadism) in the context of the workplace. A total of 300 Italian-speaking participants (50% female, M age = 32 years ± 9.2) and 253 English-speaking participants (38% female, M age = 39 years ± 12.1) were recruited via an online survey platform. The Italian-speaking sample was used to test the factorial structure, reliability and criterion-related validity of the Italian version of the DTW, whereas the English-speaking sample was used to test cross-language measurement invariance. Results from confirmatory factor analysis showed that the original four-factor model provided the best fit to the data. The Italian DTW scale demonstrated acceptable internal consistency, with reliability coefficients of ω = .77 for narcissism, ω = .80 for Machiavellianism, and ω = .81 for both psychopathy and sadism. Concurrent associations between the DTW scales and negative and positive workplace outcomes supported the criterion validity of the scale. Machiavellianism, psychopathy, and sadism positively correlated with counterproductive work behaviors and workplace bullying, and negatively with organizational citizenship behaviors and affective organizational commitment. In contrast, narcissism exhibited a unique pattern: It correlated positively with positive workplace behaviors and negatively with counterproductive behaviors toward the organization, but it was also found to be a significant predictor of workplace bullying. This finding may reflect multidimensional nature of narcissism, but a note of caution is warranted in interpreting this result, as all measurements relied on self-report instruments, introducing the possibility of socially desirable associations influencing the outcomes. Finally, the comparison with the English sample established configural, full metric and partial scale invariance, allowing for valid cross-language comparisons between Italian and English-speaking populations in the future. Preliminary Italian normative data were provided to offer a benchmark for the interpretation of DTW values. This study provides a reliable and valid instrument tailored to the Italian workforce, enhancing our understanding of dark personality traits within organizational contexts and providing organizations with an effective means to address and manage dark personality traits for a healthier workplace culture.

Reliability and validity of the cancer-related dysfunctional beliefs and attitudes about sleep scale in cancer patients

BackgroundInsomnia is a common health problem among cancer patients, which is not only a physical problem but also a psychological problem. Sleep plays an important role in the mental and somatic rehabilitation of cancer patients, and the sleep beliefs and attitudes of cancer patients are key factors in improving their sleep situation and quality of life. The aim of this study was to translate the Cancer-Related Dysfunctional Beliefs and Attitudes about Sleep (C-DBAS-14) scale into Chinese and to validate its reliability and validity in cancer patients.MethodThe C-DBAS-14 scale was translated into Chinese using the backward and forward translation procedure. The reliability of the scale was measured by internal consistency, split-half reliability and retest reliability. The validity of the scale was assessed through the content validity indicators, exploratory factor analysis and validation factor analysis.ResultThe Cronbach's ɑ coefficient of the Chinese version of the C-DBAS-14 was 0.932 while the McDonald’s omega coefficient (ω t) was 0.934. The split-half reliability coefficient was 0.908, and the test-retest reliability was 0.857. The four-factor model was obtained using exploratory factor analysis, explaining 72.7% of the variance, with each item loading greater than 0.4 on the common factor. The results of the confirmatory factor analysis revealed that all indicators of model fit were within an acceptable range, indicating a well-fitting model.ConclusionThe Chinese version of the C-DBAS-14 has good reliability and validity among cancer patients. It can be used to measure the sleep beliefs and attitudes of Chinese cancer patients.

Development of a digital intervention for psychedelic preparation (DIPP)

Psychedelic substances induce profound alterations in consciousness. Careful preparation is therefore essential to limit adverse reactions, enhance therapeutic benefits, and maintain user safety. This paper describes the development of a self-directed, digital intervention for psychedelic preparation. Drawing on elements from the UK Medical Research Council (MRC) framework for developing complex interventions, the design was informed by a four-factor model of psychedelic preparedness, using a person-centred approach. Our mixed-methods investigation consisted of two studies. The first involved interviews with 19 participants who had previously attended a ‘high-dose’ psilocybin retreat, systematically exploring their preparation behaviours and perspectives on the proposed intervention. The second study engaged 28 attendees of an ongoing psilocybin retreat in co-design workshops, refining the intervention protocol using insights from the initial interviews. The outcome is a co-produced 21-day digital course (Digital Intervention for Psychedelic Preparation (DIPP)), that is organised into four modules: Knowledge–Expectation, Psychophysical–Readiness, Safety–Planning, and Intention–Preparation. Fundamental components of the course include daily meditation practice, supplementary exercises tied to the weekly modules, and mood tracking. DIPP provides a comprehensive and scalable solution to enhance psychedelic preparedness, aligning with the broader shift towards digital mental health interventions.

Portuguese Adaptation and Validation of the Fisher Divorce Adjustment Scale – Short Form to Assess Adjustment to Breakup During Emerging Adulthood

ABSTRACT The current study proposed to validate and to test psychometric properties of the Portuguese version of FDAS-SF in a 579 sample of emerging adults who had experienced a romantic breakup in the past year. Participants completed a survey that included sociodemographic information, Chilean version of FDAS-SF translated into Portuguese, and measures of depression, attachment, and differentiation of self. The results suggested a four-factor model: disentanglement from ex-partner, feelings of self-worth, anger, and social self-worth. The findings of reliability and validity ensured that Portuguese version of FDAS-SF can be used to evaluate adjustment to breakup both in research and clinical settings.

Short-term Persistence Performance of Equity Mutual Fund Returns: Evidence from India

The present study verifies the short-term persistence performance of equity mutual fund returns. The study considers 47 equity funds' monthly excess returns spanning from January 2000 to December 2019. The study employs prominent asset pricing models such as Jensen (1968) one-factor model, Fama-French (1993) three-factor model, and Carhart (1997) four-factor model to capture the short-term persistence of equity mutual fund returns. The results show that Jensen’s one-factor and Fama-French three-factor models are explaining a better persistence performance in the Indian context.

A Bifactor Evaluation of Self-Report and Clinician-Administered Measures of PTSD in Veterans.

The PTSD Checklist for DSM-5 (PCL-5) and the Clinician-Administered PTSD Scale for DSM-5 (CAPS-5) are two of the most widely used and well-validated PTSD measures providing total and subscale scores that correspond with DSM-5 PTSD symptoms. However, there is little information about the utility of subscale scores above and beyond the total score for either measure. The current study compared the proposed DSM-5 four-factor model to a bifactor model across both measures using a sample of veterans (N = 1,240) presenting to a Veterans Affairs (VA) PTSD specialty clinic. The correlated factors and bifactor models for both measures evidenced marginal-to-acceptable fit and were retained for further evaluation. Bifactor specific indices suggested that both measures exhibited a strong general factor but weak lower-order factors. Structural regressions revealed that most of the lower-order factors provided little utility in predicting relevant outcomes. Although additional research is needed to make definitive statements about the utility of PCL-5 and CAPS-5 subscales, study findings point to numerous weaknesses. As such, caution should be exercised when using or interpreting subscale scores in future research.

Self-esteem, need for achievement, risk-taking propensity and consequent entrepreneurial intentions

Background: Entrepreneurship is an important economic driver, and universities are increasingly trying to create an entrepreneurial mindset among their students. This involves nurturing certain personality traits congruent with entrepreneurial intentions, such as inter alia self-esteem, a need for achievement and a risk-taking propensity.Aim: This study aimed to determine the influence of self-esteem and need for achievement on students’ risk-taking propensity and, consequent, entrepreneurial intentions.Setting: This study was conducted on students from two South African universities.Methods: Data were collected using a self-administered questionnaire distributed via the online platforms of two universities to a sample of 502 students. Data analysis included confirmatory factor analysis and path analysis.Results: Confirmatory factor analysis suggests that the influence of self- esteem and the need for achievement on students’ risk-taking propensity and, consequent, entrepreneurial intentions is a four-factor model that is valid and reliable. The path analysis estimates indicate that self-esteem and the need for achievement explain 26% of the variance of students’ risk-taking propensity, which, together with its predictors, explains 24% of the variance in their entrepreneurial intentions.Conclusion: The findings highlight the importance of a high risk-taking propensity in forging students’ entrepreneurial intentions, and the salience of nurturing students’ self-esteem and need for achievement in encouraging them to embrace calculated risks.Contribution: This study confirms that a high risk-taking propensity is a determinant of students’ entrepreneurial intentions and highlights the importance of developing tactics to nurture students’ self-esteem and need for achievement in order to enable them to embrace calculated risks.