Comparative analysis of entrepreneurial intention models: Self-efficacy <i>versus</i> entrepreneurial characteristics

Rocha, Anne Kathleen L.; Moraes, Gustavo Hermínio S. M.; Voda, Ana Iolanda; Quadros, Ruy

doi:10.1590/1678-6971/eRAMG230209.en

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Human and Social Management • RAM, Rev. Adm. Mackenzie 24 (4) • 2023 • https://doi.org/10.1590/1678-6971/eRAMG230209.en linkcopy

Comparative analysis of entrepreneurial intention models: Self-efficacy versus entrepreneurial characteristics¹

Análise comparativa de modelos de intenção empreendedora: Autoeficácia versus características empreendedoras

Authorship SCIMAGO INSTITUTIONS RANKINGS

Abstract

Purpose: The purpose of this research is to analyze whether self-efficacy and entrepreneurial characteristics (e.g., risk-taking, planning, opportunity recognition, persistence, sociability, innovation, and leadership) differ in the explanation of entrepreneurial intention models, having entrepreneurial education as a moderator of relationships.

Originality/value: This paper offers an in-depth perspective on which behavioral characteristics fit best into entrepreneurial intention models and helps to fill a theoretical and practical gap on the need for university education to increase its positive impact on human capital, particularly on students’ professional skills, demonstrating which characteristics are most impacted by entrepreneurial education.

Design/methodology/approach: Quantitative methodology was employed, and data were analyzed with structural equation modeling. The sample consisted of 1,004 Brazilian university students from public and private universities. The research was conducted in a non-probabilistic way and with a convenience sample. In order to address the research hypothesis and objectives, all constructs were adapted from relevant literature on entrepreneurship.

Findings: The results indicate it seems more appropriate to use a set of entrepreneurial characteristics when investigating an entrepreneurial intention model if you are looking for a higher explanatory factor and a more robust model; also, entrepreneurial characteristics represent a more sensitive model, which brings accurate assessments on factors that affect entrepreneurial intention. With these findings, entrepreneurial education can be planned to shape certain characteristics through actions in the university environment, making it possible to measure the impact of education on entrepreneurial intention.

Keywords: self-efficacy; entrepreneurial characteristics; entrepreneurial intention; entrepreneurial education; Brazil

Questions	Mean	Standard deviation	Standardized path loading	Critical ratio	P-value
Self-efficacy
(SE1) I can work productively, regardless of stress, pressure and conflict (excluded).	4.363	1.804	-	-	-
(SE2) I can originate new ideas and products.	5.304	1.260	0.714	33.363	0.000
(SE3) I can develop and maintain favorable relationship with potential investors.	5.344	1.259	0.773	49.026	0.000
(SE4) I can see new market opportunities for new products and services.	5.055	1.299	0.783	48.840	0.000
(SE5) I can recruit and train company's employees.	4.520	1.544	0.630	21.353	0.000
(SE6) I can develop a working environment that encourages people to try out something new.	5.336	1.210	0.681	24.975	0.000
Risk-taking
(RT1) I would assume a long-term debt, believing in the advantages that a business opportunity would bring me.	4.281	1.718	0.740	29.918	0.000
(RT2) I admit taking risks in exchange for possible benefits.	4.972	1.388	0.709	27.008	0.000
(RT3) My decisions are not predominantly based on my comfort zone.	4.873	1.460	0.695	23.203	0.000
(RT4) I believe that getting involved in situations of higher risk will create results of great impact (excluded).	4.966	1.526	-	-	-
Opportunity recognition
(OR1) I believe I have a good ability in recognizing business opportunities.	4.650	1.521	0.769	40.487	0.000
(OR2) I believe I have the skill to understand, recognize and make use of abstract data, also implied and in constant modification.	4.424	1.731	0.770	37.584	0.000
(OR3) I am always up to any opportunity that may arise.	4.408	1.645	0.858	74.343	0.000
(OR4) I feel able to identify business opportunities and profit from them.	4.549	2.132	0.653	9.619	0.000
Innovation
(IN1) I prefer a job full of novelty instead a routine activity.	5.373	1.514	0.776	39.860	0.000
(IN2) I like changing my way of work whenever possible.	4.925	1.418	0.714	25.763	0.000
(IN3) I like improving the conventional and correct way of activities, not strictly following steps (excluded).	4.996	2.110	-	-	-
(IN4) I bet on creativity while elaborating projects/activities.	5.259	1.352	0.728	30.03	0.000
Leadership
(L1) I am often chosen as a leader in school or professional activities (excluded).	4.593	1.606	-	-	-
(L2) People respect my opinion.	5.254	1.207	0.712	31.736	0.000
(L3) I can convince people to overcome conflicts and work as a team to achieve a particular result.	5.134	1.319	0.714	28.172	0.000
(L4) I can encourage people to perform tasks for which they are unmotivated.	5.152	1.242	0.737	37.176	0.000
(L5) Frequently, people ask my opinion regarding wok or study issues.	5.107	1.386	0.721	31.402	0.000
Persistency
(PE1) Professionally, I consider myself more persistent than others.	5.047	1.342	0.697	28.331	0.000
(PE2) I can work in projects intensely with a risk of depriving my social life, even if the project has uncertain outcome (excluded).	4.695	1.511	-	-	-
(PE3) I'm capable of creating, conducting and implementing new life plans.	5.159	1283	0.788	47.540	0.000
(PE4) Every chance I have, I evaluate myself considering perseverance, imagination and creativity.	4.589	1.754	0.657	22.849	0.000
Planning
(PL1) I always plan everything I do very carefully (excluded).	5.044	2.141	-	-	-
(PL2) To achieve my goals, I detail all the steps to be followed.	4.875	1.552	0.759	35.324	0.000
(PL3) I know I can set my short, medium and long-term goals.	5.137	1.308	0.711	28.497	0.000
(PL4) I like to set goals and targets to feel challenged.	5.215	1.486	0.744	32.488	0.000
Sociability
(SO1) The social contacts that I have are very important for my personal life (excluded).	5.479	1.856	-	-	-
(SO2) I know several people who could assist me professionally, if I needed it.	5.295	1.533	0.607	16.840	0.000
(SO3) I relate very easily with other people.	5.173	1.519	0.767	37.978	0.000
(SO4) I try to maintain constant contact with people in my network.	4.795	1.650	0.781	47.334	0.000
Entrepreneurial intention
(EI1) I am ready to do whatever it takes to be an entrepreneur.	4.431	1.878	0.795	55.363	0.000
(EI2) Even though I work for other companies, I will never abandon my dream of opening my business.	4.450	1.821	0.802	56.528	0.000
(EI3) My greatest achievement will be to have my own business.	4.792	1.796	0.862	80.358	0.000
(EI4) I will make every effort to create and maintain my own company.	4.301	1.928	0.883	87.066	0.000
(EI5) I intend to start a business in the coming years.	4.188	2.029	0.855	81.244	0.000

Construct	Entrepreneurial intention	Self-efficacy
Entrepreneurial intention	0.840
Self-efficacy	0.400	0.715
Composite reliability	0.923	0.838
Average variance extracted (AVE)	0.705	0.512

Constructs	RT	OR	EI	IN	L	PE	PL	SO
Risk-taking	0.731
Opportunity recognition	0.262	0.766
Entrepreneurial intention	0.435	0.372	0.84
Innovation	0.366	0.277	0.339	0.74
Leadership	0.312	0.287	0.279	0.372	0.712
Persistency	0.389	0.36	0.455	0.444	0.548	0.713
Planning	0.306	0.24	0.195	0.289	0.466	0.491	0.729
Sociability	0.282	0.33	0.219	0.321	0.528	0.481	0.394	0.721
Composite reliability	0.774	0.849	0.923	0.784	0.802	0.751	0.772	0.765
AVE	0.534	0.586	0.706	0.547	0.507	0.508	0.532	0.520

Path	Sample mean	Standard deviation	T-statistics	P-values
Self-efficacy → Entrepreneurial intention	0.401	0.028	14.228	0.000
Entrepreneurial characteristics → Entrepreneurial intention	0.582	0.023	25.273	0.000

	Self-efficacy model		Entrepreneurial characteristics model
Path	Path coefficients – difference (discipline – NO versus YES)	P-values	Path coefficients – difference (discipline – NO versus YES)	P-values
Self-efficacy → Entrepreneurial intention	0.043	0.210	–	–
Entrepreneurial characteristics → Entrepreneurial intention	–	–	0.071	0.048

	Self-efficacy model			Entrepreneurial characteristics model
Construct	R square	R square adjusted	Q²	R square	R square adjusted	Q²
Entrepreneurial intention	0.160	0.159	0.104	0.336	0.335	0.221

Fit measures	Self efficacy model	Entrepreneurial characteristics model
SRMR	0.074	0.031
NFI	0.894	0.965
RMStheta	0.146	0.140
d_ULS	0.303	0.076

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[TFN1] Source: Elaborated by the authors.

[TFN2] Note. Likert scale responses from 1 (totally disagree) to 7 (totally agree). The students responded with how much they agreed with the statements.

Comparative analysis of entrepreneurial intention models: Self-efficacy versus entrepreneurial characteristics1

Análise comparativa de modelos de intenção empreendedora: Autoeficácia versus características empreendedoras

Abstract

Comparative analysis of entrepreneurial intention models: Self-efficacy versus entrepreneurial characteristics¹