Entrepreneurship is important for economic growth, through its role in the provision of employment. In the recent past, a number of African universities have developed entrepreneurship education courses to facilitate the growing demand for entrepreneurs in the market. An immediate outcome anticipated from entrepreneurship education is to increase entrepreneurial intention (EI) among the participants. Unfortunately, most of the entrepreneurship education in developing economies has not been linked to an increase in the EI of students. This paper thus proposes that it is when students possess high levels of psychological capital and perceive positive social norms that entrepreneurship education will lead to positive EI. The purpose of this paper is to establish the relationship between perceived social norms (PSN), psychological capital and EI of university students.,Quantitative data were collected through a self-administered questionnaire on a random sample of 196 final year entrepreneurship and business management students, from three universities in Bukavu (East of DRC). Structural equation modeling was used to test the research hypotheses.,The paper provides four main findings. First, PSN and psychological capital have a positive significant effect on EI. Second, PSN contribute more to this effect than psychological capital. Third, PSN make a positive and significant effect on psychological capital. Lastly, psychological capital positively mediates the relationship between PSN and EI.,This study could have benefited from a qualitative approach to have a more in-depth explanation of these relationships. The study is conducted amongst students who operate in a controlled environment. This may not reflect the actual behavior of entrepreneurs.,This work provides cues of what entrepreneurship educators should consider as they recruit and train students. Specifically, the study highlights the importance of students’ psychological capital and positive social norms in transforming entrepreneurial education into intention.,This study adds value to knowledge by highlighting the mediating role of psychological capital on the relationship between PSN and EI.

Perceived social norms, psychological capital and entrepreneurial intention among undergraduate students in Bukavu

Purpose – The purpose of this paper is to evaluate the impact of Entrepreneurship Education Programs (EEPs) from students’ and educators’ viewpoint to improve the quality of EEPs. Design/methodology/approach – This research applies a qualitative-quantitative methodology. Its sample is included 291 students were selected randomly and 35 educators were chosen by convenience technique from universities of Applied Science and Technology of Iran. Findings – The results revealed that essence of EEPs had a positive direct effect on objectives and content of EEPs; objectives and content of EEPs had a positive direct effect on methods of EEPs; essence of EEPs had a positive direct effect on impact of EEPs; and essence of EEPs had a positive indirect effect on methods through objectives and content based on students’ and educators’ perspective. Moreover, as opposed to educators’, students believed that methods of EEPs have not a positive direct effect on impact, while educators were opponent to students approach about the positive direct effect of essence of EEPs on methods. Research limitations/implications – The study was limited to Applied Science and Technology universities were selected by convenience sampling method. Similar studies in other universities are needed to be conducted by simple random sampling to evaluate EEPs. Practical implications – The study recommends policy-makers to be aware of students’ needs of EEPs’ methods, as well inform educators about effective and initiative methods. Originality/value – Evaluating impact of EEPs based on demand and supply-side viewpoint is the first study conducted in Applied Science and Technology universities of Iran.

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The future of enterprise and entrepreneurship education

Understanding the formation of entrepreneurial intention is critical, given that it is the first step in the entrepreneurial process. Little research has been undertaken to investigate the intended timing of future entrepreneurial activities. The aim of this paper is to analyse the formation of entrepreneurial intentions among final-year university students after graduation in terms of the timeframe it would take them to start their own business. Potential rapid entrepreneurs and entrepreneurs-in-waiting were compared using the Theory of Planned Behaviour (TPB). A variance-based structural equation modelling approach was used for the sample of 851 final-year university students with entrepreneurial intentions who participated in GUESSS project. The results obtained contribute to the understanding of how entrepreneurial intentions are formed, particularly, how intended timing plays a moderating role in the relationships of the variables of the theoretical model of TPB. The findings of this study have practical implications for entrepreneurship education, and they can help policy makers develop more effective policies and programs to promote entrepreneurship.

Why not now? Intended timing in entrepreneurial intentions

The Democratic Republic of the Congo (DRC) is a country with a high agricultural productivity potential; however, the agribusiness sector remains unattractive to youths. This study examined the extent to which perceived social norms and psychological capital affect youths’ intentions to pursue agribusiness opportunities in the Eastern DRC. Data was collected on a sample of 600 youths. We applied Partial Least Squares Structural Equation Modelling (PLS−SEM) in order to examine the relationship between the variables. The findings indicated that most of the youths did not select agribusiness as their top career choice. The intention to engage in agribusiness activities was significantly higher among the youths who perceived that agribusiness was socially valued and supported. Psychological capital significantly and positively affects youths’ agripreneurial intention. The findings contribute to the underlying Theory of Planned Behavior by supporting a positive mediation role of psychological capital—and the moderating roles of educational level, gender, access to land, and location—on the relationship between perceived social norms and agripreneurial intention. The paper concludes that the provision of funds is not enough to promote youth agripreneurship in an environment in which agricultural-related social norms, youths’ psychological capital, gender, access to land, educational level, and location (rural versus urban) are not thoroughly considered.

https://www.mdpi.com/2071-1050/13/6/3442/pdf

Perceived Social Norms and Agripreneurial Intention among Youths in Eastern DRC

This study examines trait and context antecedents of entrepreneurial persistence in new venture creation. Two personality traits, entrepreneurial self-efficacy and tenacity, differently impact subsequent entrepreneurial persistence behavior in different industry contexts. These relationships are tested using logistic regression in a sample of entrepreneurs from the Panel Study of Entrepreneurial Dynamics (PSED-II; Curtin & Reynolds, 2018). In developing the PSED-II dataset, 31,845 individuals were screened using phone interviews in order to identify a sample of 1,214 nascent entrepreneurs. Results of the current study identify significant relationships between entrepreneurial persistence in efforts to launch a new business and entrepreneurial self-efficacy and tenacity. However, the relationships have diminishing returns and vary with the industry context of the business (manufacturing, retail, services). In the retail industry sector, neither trait was significant; however, in manufacturing industry contexts, tenacity seems to matter more for continuing to pursue new ventures than self-efficacy, while in services industries, self-efficacy seems to matter more than tenacity.

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Entrepreneurial tenacity and self-efficacy effects on persisting across industry contexts

This study integrated the theory of social capital and cognitive bias to investigate the formation of entrepreneurial intentions. Among many kinds of biases, we took overconfidence biases that have been studied widely and relevant to entrepreneurship into consideration. Moreover, this study proposed that social capital of entrepreneurs matter for overconfidence biases, and investigated whether the relationship between social capital and entrepreneurial intention is mediated by overconfidence. Furthermore, following Seibert et al. (2001), this study conceptualized social capital into two components: (1) access to information and resources, and (2) career sponsorship. Using university students in Taiwan as our research sample, we collected 346 samples, and adopted the SEM technique to test the hypotheses. The empirical results indicated that social capital in terms of information and resource accessibility can encourage young people to consider entrepreneurship as a career, while social capital in terms of career sponsorship can inspire entrepreneurial intention mediated only by overconfidence.

Keywords: Social Capital, Cognitive Bias, Overconfidence, Entrepreneurial Intention

To cite this document: Lin-Ju Cheng and Chun-Chieh Liao, "The Drivers of Entrepreneurial Intention: The Role of Social Capital and Overconfidence", Contemporary Management Research, Vol.13, No.2, pp. 143-162, 2017.

Permanent link to this document:
http://dx.doi.org/10.7903/cmr.17589

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Chun Chieh Liao

Papers

The Drivers of Entrepreneurial Intention: The Role of Social Capital and Overconfidence

The role of English as a lingua franca in FDI: Evidence from China