Background
1.1.1 History of entrepreneurship in Vietnam
During Vietnam’s Subsidy Period, the government controlled all aspects of the economy, leading to the use of coupons and food stamps for purchasing essential goods and services This system fostered nepotism, as government officials received more coupons and had access to exclusive shops, while ordinary citizens often spent entire days waiting in line for basic necessities like rice In 1986, Vietnam's government initiated the "Doi Moi" campaign, a strategy aimed at gradually integrating the country into the global economy This political and economic renewal sought to balance industrial and agricultural development through a mix of state, collective, and private ownership, marking a significant shift from a centrally planned economy to a form of market socialism.
The socialist-oriented market economy in Vietnam has significantly benefited from the rise of private businesses and foreign investment, which have been pivotal in driving economic growth By the late 1990s, over 30,000 private enterprises emerged, contributing to an annual growth rate exceeding 7% However, a 2014 report from Bertelsmann Stiftung’s Transformation Index highlighted structural challenges within the banking sector and state-owned enterprises, resulting in a reduced growth rate of just 5.03% in 2012, marking a decline from the previous decade's performance Despite these challenges, the private sector has demonstrated its vital role in the economy, accounting for approximately 60% of the nation's GDP.
Vietnam's economic progress is evident, with GDP growth consistently positive over the past decade In 2012, the country's income per capita reached $1,523, a significant increase from $1,224 in 2010, the year it attained middle-income status according to World Bank criteria The private sector has played a crucial role, contributing to 29% of the national budget through taxes in 2010, up from 18% in 2006, and creating 3.2 million jobs from 2006 to 2010—four times more than state-owned enterprises With an investment capital ratio of 36.1% in 2010 and 35.2% in 2011, it is essential to recognize the importance of private enterprises for sustainable growth in Vietnam's economy.
The Company Law and Law on Private Enterprise, initially adopted in 1990 and revised into the New Enterprise Law in 1999, fostered a conducive environment for entrepreneurial growth in Vietnam This updated legislation eliminated unnecessary business license restrictions across 145 industries, facilitating easier market entry for private enterprises Additionally, it permitted private investment funds, diversifying the sources of capital beyond the traditional state budget financing.
Following the implementation of the New Enterprise Law in 2001, the number of new businesses surged to 35,447, surpassing the total created under the previous Company Law and Law on Private Enterprise over eight years This significant growth led to the emergence of a new class of professionals known as "entrepreneurs."
Entrepreneurship development through Small and Medium Enterprises (SMEs) has become a vital force for socio-economic diversification, promoting de-collectivization The government formally defined SMEs in document 681/CP-KNT, highlighting their significance in fostering economic growth and innovation.
1998 Accordingly, SMEs are those independent business and production establishments that have registered their business under the current legislation.
Small Enterprises are defined as businesses with registered capital of less than VND 1 billion and a maximum of 50 employees In contrast, Medium Enterprises have capital between VND 1 billion and VND 5 billion and employ between 51 and 200 individuals.
Vietnam's entrepreneurial landscape is rapidly evolving, marked by influential figures such as Pham Nhat Vuong of Vingroup and Le Nguyen Vu of Trung Nguyen, who have inspired a new generation of entrepreneurs The surge in entrepreneurial activity is evident, particularly among youth and university students, as reflected in search engine statistics Keywords like "Doanh nhan tai Viet Nam" yield 14.4 million results, while "Khoi nghiep kinh doanh tai Viet Nam" produces over 1 million results, showcasing a vibrant ecosystem of websites, associations, and competitions dedicated to entrepreneurship This trend is fueled by factors such as high unemployment rates, low opportunity costs for starting businesses, and a shift in family traditions According to Ngan (2013), data from the General Statistics Office of Vietnam further elucidates the rising startup culture in the country.
2013, 76,955 enterprises were established (10.1% higher than 2012); however, 60,737 enterprises went bankrupt or stopped operating (12.0% higher than
In 2012, the primary reasons for declaring bankruptcy were ongoing losses (56.4%), management issues (5.1%), and insufficient capital and market presence (38.5%) Additionally, Diep (2013) highlighted that the unemployment rate among graduates aged 21-29 reached 101,000, representing 9.89% of the overall unemployed population.
Research gap
Recent decades have seen a significant increase in research on entrepreneurship, driven by its contributions to economic growth, innovation, and job creation (Alfonso & Cuevas, 2012) As the trend of starting new businesses rises, understanding individual behavioral intentions becomes crucial (Krueger et al., 2000) While numerous studies have explored personal and environmental factors influencing entrepreneurial intent, such as personality traits and social context, findings remain inconclusive (Tung & Mui, 2011) In Vietnam, despite a growing interest in entrepreneurship, research specifically addressing cognitive-based factors affecting entrepreneurial intent is limited (Do, 2009; Ho, n.d.) This study aims to fill that gap by examining how variables from the Ajzen model—attitude, social norms, and perceived behavioral control—alongside a personality scale, predict the entrepreneurial intentions of business students in Vietnam This research highlights the novel combination of these four antecedents, contributing to the existing literature on entrepreneurial intention.
Research objectives
This research aims to explore key contributions in entrepreneurial intention models and their ability to predict business students' startup initiatives in Vietnam Utilizing Ajzen's (1991) theory of planned behavior, the study examines significant factors influencing entrepreneurial intention Furthermore, it investigates the impact of proactive personality, as proposed by Batteman and Crant (1993), on entrepreneurial intent Employing SPSS, the research will analyze whether the determinants of entrepreneurial intention effectively influence students' intent to start a business and confirm if this intention correlates with actual new venture creation behavior.
Research scope
This research examines business students and alumni from various undergraduate and postgraduate programs at both local and foreign universities in Vietnam Data was gathered through questionnaires from students enrolled in Advanced Diploma, Bachelor, MBA, and second-degree programs at institutions such as the University of Economics (UEH), International Business School (ISB - UEH), ERC International Business School, and Foreign Trade University (FTU) The study was conducted during July and August 2014.
Contributions and implications
This research enhances the understanding of the cognitive processes that drive entrepreneurial activities and evaluates their measurement and applicability in Vietnam It serves as a valuable resource for individuals considering entrepreneurship, as well as for educators, investors, economists, and policymakers aiming to foster entrepreneurial initiatives and stimulate economic growth.
Structure of the research
The research is derived from general introduction to the literature review and hypothesis development, and the research methodology Chapter one named
This article explores the research problem and highlights the significance of studying the factors influencing entrepreneurial intent in Vietnam It begins with an introduction, followed by a literature review that outlines key concepts and the development of hypotheses related to the research model The methodology for conducting the study is detailed in the third chapter, while the fourth chapter focuses on data analysis, presenting the collected data to inform the final conclusions and recommendations.
Theoretical background
2.1.1 The application of Ajzen’s (1991) Theory Planned Behaviour (TPB) model in predicting entrepreneurial intent
Numerous studies on entrepreneurship have sought to identify the situational and environmental factors influencing entrepreneurial behavior However, Krueger et al (2000) assert that intentions are the most reliable predictor of planned behaviors, including entrepreneurship This is because intentions provide valuable insights into the underlying processes when behaviors are difficult to observe, as external factors only influence intentions and behaviors indirectly through changes in attitudes (Ajzen, 1991) Segal et al (2005) further support this notion, emphasizing that external forces merely act as triggers and create a favorable environment for entrepreneurship without establishing a direct relationship with entrepreneurial activity Recent entrepreneurship models have increasingly focused on cognitive processes, highlighting the importance of salient beliefs in entrepreneurial performance Shapero’s (1982) model of the "Entrepreneur Event" (SEE) is an intention model rooted in cognitive processes, identifying three key factors that influence entrepreneurial intentions: perceived desirability, perceived feasibility, and the propensity to act on opportunities These factors play a crucial role in enhancing entrepreneurial intentions.
“displacement” events occurs (i.e social pressure) and influences the
The perceived feasibility and desirability of an individual significantly influence their entrepreneurial intentions Additionally, having self-employed family members enhances both the desirability and credibility of social pressure, further motivating individuals to pursue entrepreneurship, as noted by Shapero and Sokol.
In 1982, a three-step process for venture creation was established, consisting of a preliminary phase where displacement events motivate individuals to consider entrepreneurship, a transforming phase where factors like training and social support help potential entrepreneurs develop, and a deciding phase where access to financial and technical resources catalyzes the decision to start a venture According to Alfonso and Cuevas (2012), Shapero's study highlights that the intent to launch a new venture is influenced by an individual's perception of desirability and feasibility, which is initiated by a propensity to seize opportunities and triggered by displacement events Additionally, Krueger et al (2000) affirm that the potential for venture creation must be recognized before the displacement event, with the propensity to act emerging subsequently.
Figure 2.1 Shapero’s (1982) model of the “Entrepreneur Event” (SEE).
The theory of planned behavior (TPB), developed by Ajzen in 1991, serves as a primary model for understanding intentions Engle et al (2008) explored this framework in their study across twelve countries, focusing on predicting behaviors related to venture creation They highlight that researchers often apply cognitive theory to explain individual actions, revealing important insights into the motivations behind specific behaviors.
Cognitive processes encompass the perception, storage, retrieval, response, and evaluation of information However, the focus on these processes may leave individuals as "human animals lost in thought," which can lead to a lack of understanding regarding the motivations behind their actions.
Segal et al (2005), along the history of researches on predicting behavioral intention, the theories of reasoned action (TRA) (Fishbein & Ajzen, 1975;
Ajzen & Fishbein, 1980) and the theory of planned behavior (TPB) (Ajzen,
1987, 1991) are the most widely applied theories The TRA includes two construct called attitude towards the behavior and subjective norm The TPB
(Ajzen, 1991) is an extension of the TRA and filled the limitation in the TRA where it adds another construct called perceived behavioral control (PBC).
Figure 2.2 Ajzen’s theory of planned behavior (1991)
Attitude toward behavior reflects how positively or negatively an individual evaluates a specific behavior, influenced by a comprehensive set of beliefs regarding various outcomes and attributes.
In 1991, McClelland, Shapero, Val Gelderen, and Jasen (as cited in Engle et al., 2008) identified that the construct "attitude toward the behavior" encompasses three key variables: autonomy, personal wealth, and achievement motivation.
Specifically, autonomy includes the concepts of “independence” and
Personal wealth is commonly viewed as a symbol of financial freedom, while achievement motivation reflects an individual's drive to succeed and set goals The stronger a person's belief in the positive outcomes of their actions, the more likely they are to adopt a favorable attitude toward those behaviors.
Subjective norm refers to the “likelihood that important referent individuals or groups approve or disapprove of performing a given behavior.” (Ajzen,
In 1991, it was noted that an individual's perception of social support significantly influences their behavior Bandura (1977b, as cited in Engle et al., 2008) highlighted that people are more likely to adopt behaviors modeled by family, close friends, or mentors, particularly when those behaviors yield positive outcomes Additionally, Gopi and Ramayah (2007) referenced Vankatesh and Davis (2000), indicating that social influence and pressure can compel individuals to engage in certain behaviors, even if they personally disagree with them.
Perceived behavioral control refers to an individual's belief in their ability to achieve desired outcomes Even with a positive attitude and supportive social norms, a person may struggle to adopt a behavior if they lack the necessary opportunities and resources Ajzen (1991) introduced this concept to address situations where individuals do not have full control over their actions This perception is shaped by personal experiences, information exchanged with the environment, and various factors that influence the perceived difficulty of performing the behavior.
Entrepreneurship is fundamentally a mindset that prioritizes opportunities over threats, making it an intentional process where intentions are strong predictors of planned entrepreneurial activities While personal and situational factors may indirectly affect entrepreneurship, intention-based models provide valuable insights into the psychological aspects of individuals and the external influences on new venture creation (Krueger et al., 2000) Among these models, Ajzen’s (1991) Theory of Planned Behavior (TPB) is widely recognized for its effectiveness in predicting the intention to establish new ventures, applicable not only to entrepreneurial behavior but across various actions (Alfonso & Cuevas, 2012) Empirical evidence supports the use of Ajzen’s model in understanding entrepreneurial intentions.
The 1991 model proposed by Ajzen has been extensively validated in research on entrepreneurial intention, both at micro and macro levels (Krueger and Brazeal, 1994; Krueger et al., 2000; Engle et al., 2008) Most studies affirm that behavioral intent is a strong predictor of actual behavior Furthermore, Christopher and Michael (2014) conducted meta-analyses that reinforce Ajzen’s model, highlighting that the relationships between attitude and entrepreneurial intent, social norms and entrepreneurial intent, and perceived behavioral control and entrepreneurial intent are all positively correlated and statistically significant.
2.1.2 Proactive Personality (Batteman and Crant, 1993) in predicting entrepreneurial intent
Batteman and Crant (1993) introduced the Proactive Personality concept, characterized by a 17-item measurement scale that reflects a stable behavioral tendency distinct from traits like self-consciousness and need for achievement Individuals exhibiting proactive behavior actively influence their environments, demonstrating traits such as opportunity scanning, initiative, and perseverance until they achieve change Crant (1996) further emphasizes that proactive individuals seek environments that align with their strengths and needs, contrasting with those lacking this trait, who tend to show little initiative and passively endure their circumstances This distinction is particularly relevant in understanding the relationship between proactive personality and entrepreneurial intention.
An entrepreneur is defined as an individual who actively seeks opportunities without being limited by their available resources (Becherer & Maurer, 1999) This definition aligns with the concept of a proactive personality, which Crant (1996) identifies as positively influencing entrepreneurial intentions Furthermore, the measurement scale for proactive personality significantly enhances the prediction of entrepreneurial intentions, even when accounting for factors such as gender, education, and entrepreneurial family background.
Review on “Entrepreneurial intent”
Entrepreneurship is defined as the process of transforming innovation into new products, services, or businesses to seize market opportunities (McGuire, 2003, as cited in Prabhu et al., 2011) It embodies a mindset focused on recognizing opportunities rather than threats, highlighting the importance of intentionality in the opportunity identification process (Krueger et al., 2000) This intentional approach underscores that human behavior is often planned, suggesting that the launch of a nascent firm is a deliberate action rather than a mere reaction to external stimuli.
According to a 2012 study, the intention to start a business often precedes entrepreneurial actions and is shaped by various factors By effectively managing these influences, it is possible to enhance entrepreneurial intent, which can subsequently lead to increased venture creation and entrepreneurial activities within a specific region, ultimately contributing to economic growth.
Conceptions of Individual Entrepreneurial Intent According to Thompson
In 2009, the significance of "entrepreneurial intent" emerged as a crucial factor in understanding new business ventures, closely linked to concepts like career orientation and vocational aspirations It is essential to clarify individual entrepreneurial intent, as the desire to own a business or be self-employed differs from the act of establishing a new firm For instance, an individual may own a business by purchasing an existing one or acquiring a franchise without engaging in entrepreneurial activities Additionally, the term "nascent entrepreneurs" warrants distinction to further comprehend this landscape.
“entrepreneurial intent” “Nascent entrepreneurs” is often referred to
A nascent entrepreneur is defined as an individual who has progressed from initial interest and planning to actively taking steps towards establishing a new business This process involves multiple stages, beginning with the conscious intention to become an entrepreneur and culminating in actions such as creating a legal structure, hiring staff, or securing a location for the new firm It is important to distinguish between entrepreneurial intent and mere entrepreneurial disposition; individuals with entrepreneurial intent have thoughtfully considered the possibility of starting a business, while those with only an entrepreneurial disposition may lack awareness or may dismiss the idea of entrepreneurship altogether This study aligns with Thompson (2009), which outlines three criteria for identifying individuals with entrepreneurial intent.
Individual Entrepreneurial Intent refers to a person's conscious decision and commitment to start a business venture in the future, as defined by Thompson (2009) This intent is a crucial precursor for becoming a nascent entrepreneur, although not all individuals with entrepreneurial intent take steps to establish a business Prabhu et al (2011) emphasize that those with entrepreneurial intent are more likely to engage in business-related actions compared to those without such intent Engle et al (2008) further clarify that entrepreneurial intent specifically denotes an individual's intention to launch a new business However, this definition may not fully capture the complexities of the entrepreneurial landscape in Vietnam, where the entrepreneurial community is diverse and shaped by various socio-economic factors According to Do (2009), Vietnamese entrepreneurs can be characterized by three key criteria: they seek profit through marketable products or services, possess the necessary resources and psychological traits for entrepreneurship, and rely on their business as their primary source of income, ensuring the well-being of themselves and their families.
In this study, "individual entrepreneurial intent" refers to individuals who aspire to start a business venture and actively plan to do so in the future, regardless of whether they have yet established a new business due to unforeseen circumstances To qualify as having entrepreneurial intent, the business must meet three specific criteria: it should not be of too small a scale, possess a low-skilled manufacturing level, or fail to provide products or services in the market.
Hypotheses development
According to Ajzen's theory of planned behavior (1991), an individual's intention to perform a behavior is stronger when the three antecedents are favorable, leading to a higher likelihood of actual performance This theory emphasizes that behavioral performance can be predicted based on a person's plans and intentions, highlighting the significance of intentions in driving behavior.
Motivational factors play a crucial role in influencing behavior, reflecting the level of effort individuals are willing to invest in performing a specific action Generally, a stronger intention to engage in a behavior correlates with a higher likelihood of actually executing that behavior (Ajzen, 1991, p.181, as cited in Engle et al., p.38).
Attitude toward entrepreneurship refers to an individual's evaluation of entrepreneurship, which can be either positive or negative (Fishbein & Ajzen, 1975) This attitude reflects the degree of favorability an individual feels towards entrepreneurship and is crucial for predicting intentions and subsequent behaviors (Ajzen & Fishbein, 2000) Research by Krueger et al (2000) demonstrates that attitudes significantly influence entrepreneurial intentions, accounting for over 50% of the variance in these intentions In Latin America, studies indicate a generally favorable attitude toward entrepreneurship, correlating higher entrepreneurial attitudes with stronger intentions to start a business (Alfonso & Cuevas, 2012) Additionally, a study of university students in Ukraine shows that negative perceptions of the business environment can lead to unfavorable attitudes toward entrepreneurship (Solesvik, 2012).
According to Krueger et al (2000), an individual's attitudes play a crucial role in the decision to start a business, often occurring before entrepreneurs actively seek out opportunities This phenomenon can be understood through the concept that people tend to favor behaviors they believe will yield positive outcomes while developing negative attitudes towards those they associate with undesirable results (Ajzen, 1991, p 191) Consequently, aspiring entrepreneurs are motivated by the expectation that their actions will fulfill their needs and desires.
Research indicates that university business students who hold positive attitudes toward entrepreneurship are likely to express vocational preferences during critical career decision-making moments The findings support the hypothesis that a strong belief in the positive outcomes of entrepreneurship correlates with a more favorable attitude toward pursuing entrepreneurial ventures.
H1: There is a positive relationship between attitudes toward entrepreneurship and entrepreneurial intention
Social norms play a crucial role in shaping entrepreneurial intentions, as they reflect the approval or disapproval of significant individuals or groups regarding the establishment of a new business This concept, rooted in the Theory of Reasoned Action (TRA) and the Theory of Planned Behavior (TPB), suggests that individuals are influenced by the perceptions of family, friends, and mentors about entrepreneurship Research has yielded mixed results on the relationship between social norms and entrepreneurial intent, with some studies indicating no significant correlation while others affirm its importance Notably, a study by Engle et al (2008) highlighted that social norms were a significant predictor of entrepreneurial intent across twelve countries, with Costa Rica showing that they accounted for 40% of the variance in such intent This underscores that individuals may pursue entrepreneurship despite adverse conditions, often motivated by the entrepreneurial experiences of those close to them Ultimately, social influences and pressures can lead individuals to consider starting their own businesses, even if they are not inherently inclined toward entrepreneurship.
(2012), this may well be the explanation for the situation in many high- income European countries where the absence of a so-called
The concept of "Entrepreneurial Culture" can diminish the desire to pursue entrepreneurship, particularly in countries burdened by extensive regulations and strong worker protections, which elevate the opportunity costs of self-employment relative to other options This study supports the hypothesis that social norms are positively linked to entrepreneurial intentions.
H2: There is a positive relationship between social norms toward entrepreneurship and entrepreneurial intent
Perceived behavioral control toward entrepreneurship Alfonso and Cuevas
In 2012, studies indicated that even with a positive attitude and strong support from close relationships, behavior may not occur due to factors such as opportunities and resources like money, time, and skills Acknowledging the limitations of the Theory of Reasoned Action (TRA) model, Ajzen (1991) revised it by introducing a new factor known as perceived behavioral control This factor reflects an individual's perception of their ability to achieve specific outcomes Ajzen's updated model addresses the shortcomings of the original by establishing that perceived behavioral control plays a crucial role in determining intent.
According to Ajzen (1991), a positive attitude and subjective norm regarding a behavior, along with a strong sense of perceived behavioral control, significantly enhance an individual's intention to engage in that behavior Furthermore, a strong intention correlates with a higher likelihood of actually performing the behavior In the context of entrepreneurship, this is closely related to the concept of self-efficacy, which reflects an individual's belief in their capability to start a business (Scherer et al., 1989, as cited in Krueger and Brazeal, 1994).
Entrepreneurs are distinctly characterized by their belief in their ability to overcome obstacles, which influences their intention to pursue new business ventures (Krueger and Brazeal, 1994) This belief is strengthened by credible information and robust support, leading individuals to feel more capable of launching their own businesses Consequently, those who receive such encouragement are more likely to actively plan and take action towards becoming entrepreneurs in the future.
H3: There is a positive relationship between perceived behavioral control toward entrepreneurship and entrepreneurial intent
The Proactive Personality scale developed by Batteman and Crant (1993) highlights individual differences in how people influence their environments A quintessential proactive personality actively seeks opportunities, demonstrates initiative, takes decisive action, and persists until significant change is achieved (Crant, 2000) This proactive approach serves as a crucial link between potential entrepreneurial orientation and one's perception of the environment.
A study of 215 small business presidents reveals a strong link between proactive personality traits and entrepreneurial behavior According to Becherer and Maurer (1999), individuals with a proactive disposition are more inclined to engage in entrepreneurship Specifically, proactive presidents are more adept at identifying opportunities and adopting an aggressive market strategy, leading them to establish new ventures rather than acquiring or inheriting existing ones.
A study by Crant (1996) found a significant positive correlation between proactive personality and entrepreneurial intent among undergraduate and MBA students, with a correlation coefficient of r = 48 Notably, proactive personality accounted for an additional 17% of the variance in entrepreneurial intention, even when controlling for factors such as gender and education.
H2 Entrepreneurial intent Social norms toward entrepreneurship
Perceived behavioral control toward entrepreneurshipH3
Proactive personality entrepreneurial parents were added to the model Taken together, these studies suggest that PP is a construct positively affecting entrepreneurial intention.
H4: The extent to which people possess a proactive personality will be positively associated with entrepreneurial intent
The proposed model is developed based on the above hypothesis which developed from Ajzen’s Theory of planned behavior (1991) and Proactive
Personality construct (Batteman & Crant, 1993) applying on entrepreneurial intent.
Research design
The initial phase of the research design involved defining the research objective, followed by a literature review to collect relevant concepts related to the theory of planned behavior and proactive personality, and their impact on the dependent variable, "entrepreneurial intent." A proposed model was then developed to align with the specific context of Vietnam Subsequently, the paper detailed the research methodology, encompassing data collection methods, sources, measurement scales, sampling techniques, and data analysis methods.
A comprehensive questionnaire, developed from previously studied scales and translated into Vietnamese, was pilot-tested with 20 business students in Ho Chi Minh City to ensure clarity and effectiveness This preliminary test aimed to refine the study design and determine an appropriate sample size before launching a full-scale research project Following the pilot, the final questionnaire was distributed in both English and Vietnamese to business students at local and foreign universities in Vietnam After collecting the responses, data analysis was performed to extract insights and provide valuable recommendations for entrepreneurial activities in Vietnam.
Measurement scales
This study aimed to investigate the factors influencing entrepreneurial intent among business students in Vietnam, utilizing scales derived from Ajzen’s Theory of Planned Behavior (TPB) model, which includes attitude, social norms, and perceived behavioral control, alongside the proactive personality framework proposed by Batteman & Crant (1993) Entrepreneurial intent is characterized as the desire to initiate a business venture and the conscious planning to do so in the future, even if the individual has not yet established a new business due to unforeseen circumstances Central to this concept is the "attitude towards becoming an entrepreneur."
The study examined the constructs of "social norms towards entrepreneurship," "perceived behavioral control," and "proactive personality," utilizing a 17-item scale developed by Batteman and Crant (1993) to measure the latter Additionally, "entrepreneurial intent" was assessed using a scale adapted from Engle et al (2008) Participants rated their responses using a personal coding system with a seven-point scale, where 1 indicated "absolutely disagree" or "extremely low level," 4 represented a "neutral" stance, and 7 denoted "absolutely agree" or "extremely high level."
AT1 Being an entrepreneur implies more advantages than (2012)
Construct 1- Attitude toward entrepreneurship Solesvik
A career as an entrepreneur is attractive for me
If I had the opportunity and resources, I would love to start a business
Being an entrepreneur would give me great satisfaction
Among various options, I would rather be an entrepreneur
Construct 2 - Social norm toward entrepreneurship
SN1 My closest family members think that I should pursue a career as an entrepreneur
SN2 My closest friends think that I should pursue a career as an entrepreneur
SN3 People that are important to me think that I should pursue a career as an entrepreneur
SN4 To what extent do you care about what your closest family members think as you decide on whether or not to pursue a career as self-employed?
SN5 To what extent do you care about what your closest friends think as you decide on whether or not to pursue a career as self- employed?
Construct 3 - Perceived behavioural control toward entrepreneurship
PB1 If I wanted to, I could easily become an entrepreneur
PB2 As an entrepreneur I would have sufficient control over my business
PB3 There are very few circumstances outside my control that may prevent me from becoming an entrepreneur (excluded)
PB4 It is entirely up to me whether or not I become an entrepreneur
Construct 4 - Individual's proactive personality Batteman
P1 I am constantly on the lookout for new ways to improve my life P2 I feel driven to make a difference in my community, and maybe the world
P3 I tend to let others take the initiative to start new projects P4 Wherever I have been, I have been a powerful force for constructive change
P5 I enjoy facing and overcoming obstacles to my ideas
P6 Nothing is more exciting than seeing my ideas turn into reality
P7 If I see something I don't like, I fix it
P8 No matter what the odds, if I believe in something I will make it happen
P9 I love being a champion for my ideas, even against others' opposition
P11 I am always looking for better ways to do things
P12 If I believe in an idea, no obstacle will prevent me from making it happen and Crant(1993)
P13 I love to challenge the status quo
P14 When I have a problem, I tackle it head-on
P15 I am great at turning problems into opportunities
P16 I can spot a good opportunity long before others can
P17 If I see someone in trouble, I help in any way I can
Construct 5 - Entrepreneurial intent Engle et al.
EI1 To what extent have you considered starting your own business?
EI2 To what extent have you prepared to start your own business?
How likely is it that you are going to start your own business
EI3 within the next five years?
Sampling design
The subjects in this study were university business students and alumni in
The study focuses on business universities in Vietnam, including both local and transitional institutions A convenient sampling method was utilized, gathering data through questionnaires distributed to students enrolled in Advanced Diploma, Bachelor, MBA, and second-degree programs at the University of Economics (UEH) and the International Business School (ISB).
UEH), ERC International Business School and Foreign Trade University The research time frames were July and August of 2014.
According to Williams et al (2010), as sample size is important in factor analysis, there are several guiding rules of thumb are cited in the literature.
The minimum sample size required for the study was determined to be 170, based on the guideline of having at least 100 samples and ensuring that the sample size is at least five times the number of items According to Hair et al (2010), this translates to a formula of n > 100 and n = 5k, where k represents the number of items In this case, with 34 items, the calculation yields a minimum sample size of 5 times 34, resulting in 170 samples.
In addition, based on four independent factors of the conceptual model, the multiple regression analysis required sample size at least (Tabachnick & Fidell, 2007):
50 + (8xm) = 50 + (8x4) = 82 samples (Where m: is the number of independent factors of the model).
According to Hair et al (1998), factor loading is a crucial criterion for establishing the practical significance of Exploratory Factor Analysis (EFA) in multivariable data analysis, with a recommended minimum value of 0.3 Additionally, they advise that a sample size of at least 350 is necessary to ensure robust results.
Consequently, the research aimed at the minimum sample size of 350.
Sampling techniques
A convenience sampling technique was employed in the research, involving a sample size of 396 students to investigate the factors influencing entrepreneurial intent among students from the University of Economics (UEH), International Business School (ISB - UEH), ERC International Business School, and Foreign Trade University (FTU).
Data collection methods
Quantitative analysis data was gathered through printed questionnaires distributed to business students at selected universities To ensure the accuracy of the measurement scale, a draft questionnaire was initially tested with 20 business students to identify any potential misunderstandings in the wording Feedback from this trial led to adjustments in both the measurement scale and its translation The finalized questionnaire and its translated version can be found in Appendix A.
Data analysis method
Personal coding and categorizing data was done manually while analyzing data was progressed by SPSS (Statistical Package for Social Scientists).
The data analysis was approached from two angles: descriptive and inferential statistics Descriptive statistics enabled the researcher to numerically and graphically summarize the collected data, providing a clear overview of the findings However, this method did not facilitate conclusions beyond the immediate dataset or test any hypotheses To address this limitation, inferential statistics were employed, allowing the researcher to draw broader conclusions and make inferences about general conditions based on the collected data.
To evaluate the internal consistency of the survey data, Cronbach’s alpha and item-to-total correlation coefficients were employed to eliminate unsuitable items The standardized Cronbach’s alpha formula indicates that an increase in the number of items raises the alpha, while a decrease in average inter-item correlation lowers it Consistent with typical social science research practices, this study excluded any variables with a Cronbach’s alpha below 0.6.
Following the reliability analysis, Exploratory Factor Analysis (EFA) was utilized to examine the interrelationships among the variables EFA effectively simplifies the complex relationships between interval-level variables, aiming to elucidate the underlying constructs that connect them (Leech et al., 2005).
Barlett’s test was smaller than 0.05: indicates sufficient items for each factor
KMO index was greater than 0.7 (the range from 0 to 1): indicates that the correlation matrix is significantly different from an identity matrix
Eigenvalues greater than 1.0 are considered significant indicators of explained variance In this chapter, an orthogonal rotation method known as Varimax was employed, ensuring that the final factors remained as uncorrelated as possible Consequently, this approach allows us to assume that the information conveyed by one factor is independent of the information provided by the other factors.
Multiple regression analysis was employed for hypothesis testing to explore the correlation and variation among four independent variables influenced by one dependent variable According to Leech et al (2005), this method relies on several key assumptions, including: (1) a linear relationship between predictor and dependent variables, (2) independence of residuals, (3) homoscedasticity or equal error variances, (4) absence of multicollinearity, (5) lack of significant outliers, and (6) normal distribution of residuals.
In summary, this chapter outlined the research process, detailing the development of the measurement scale and its application in an official questionnaire for data collection It also addressed the determination of sample size and the sampling techniques employed, alongside the methods used for data collection.
Descriptive analysis
A total of 500 questionnaires were distributed to targeted business students in Vietnam, yielding 497 responses The participants included students pursuing Advanced Diplomas, Bachelor's degrees, and MBAs at Vietnamese universities such as the University of Economics and Foreign Trade University, as well as transnational institutions like ERC International/Greenwich University-UK and the International School of Business/University of Western Sydney Additionally, students enrolled in evening classes for a second degree at the University of Economics Ho Chi Minh City were part of the sample However, due to incomplete or randomly circled answers that could introduce bias, some responses were excluded Ultimately, 396 valid responses were selected and analyzed using SPSS.
The descriptive statistics in Table 1 (Appendix B) reveal a balanced gender distribution among respondents, with females representing 58.8% and males 41.2% The majority of the sample, 51.8%, falls within the 20-24 age group, followed by 28.3% in the 16-19 age group, likely reflecting the high percentage of undergraduate students (84.3%) within the sample Additionally, 68.5% identified as College/University students, while 19.7% were white-collar workers at the staff level Notably, 65.6% of respondents reported monthly earnings of less than VND5 million, and 23.5% earned between VND5 million and VND10 million Furthermore, 70.5% of respondents owned at least one business aside from their main occupation, although less than 38% indicated that their family and friends also owned businesses This data suggests a well-represented sample of the target population, with a significant proportion demonstrating entrepreneurial intent at an early stage in their lives.
Assessment and refinement of measurement scale
In this part of research, the measurement scales were assessed and refined by:
- Cronbach alpha to test the reliability of measurement scales
- Exploratory factor analysis (EFA) to test the validity of measurement scales
To evaluate the reliability of the items within each measurement scale, Cronbach’s alpha coefficients were calculated, with a threshold of 0.70 considered acceptable It is important to note that an alpha value in the range of 0.60 to 0.69 is also frequently observed (Leech et al.).
In the analysis process, two key outputs emerged: Corrected Item-Total Correlation and Cronbach’s alpha if Item Deleted Items with a Corrected Item-Total Correlation of 0.40 or higher are deemed at least moderately correlated with other items, indicating their suitability for inclusion in the summated scale Therefore, these items should be retained for subsequent analysis.
The Exploratory Factor Analysis (EFA) was conducted to validate the measurement scales by simplifying the relationships among interval-level variables and understanding the underlying constructs (Leech et al., 2005) A Kaiser-Meyer-Olkin (KMO) value greater than 0.70 indicates adequate items for each factor, while Bartlett’s Test of Sphericity should yield a significance level below 0.50, confirming that the correlation matrix is significantly different from an identity matrix Factors are deemed useful when their Eigenvalues exceed 1.0, reflecting explained variance This chapter employed an orthogonal rotation (Varimax) to ensure that the final factors remain as uncorrelated as possible, allowing for the assumption that the information from one factor is independent of the others.
Appendix B presents two tables: Table 2 displays the original Cronbach’s alpha, while Table 3 details the reliability statistics following necessary modifications The Cronbach’s alpha results from Table 3 were utilized for subsequent data analysis.
The Entrepreneurial Intention (EI) scale demonstrates strong reliability, with a Cronbach’s Alpha of 0.802, surpassing the acceptable threshold of 0.6 Additionally, the Corrected Item-Total Correlation for the three items—EI1, EI2, and EI3—exceeds 0.4, indicating that these items are effective components of the EI summated scale Therefore, it is recommended to retain EI1, EI2, and EI3 for subsequent exploratory factor analysis (EFA).
The reliability of the AT scale was confirmed with a Cronbach’s Alpha of 0.833, exceeding the acceptable threshold of 0.6 for exploratory factor analysis (EFA) Among the five items, the Corrected Item-Total Correlation for items AT2, AT3, AT4, and AT5 was above 0.4, while AT1 had a correlation of only 0.34, indicating it should be excluded After removing AT1, the Cronbach’s Alpha rose significantly to 0.881, demonstrating that the remaining items AT2, AT3, AT4, and AT5 constitute a more reliable scale, thus qualifying them for subsequent EFA.
The reliability of the Subjective Norm (SN) scale was initially measured with a Cronbach’s Alpha of 0.794, exceeding the acceptable threshold of 0.6, and all items demonstrated a Corrected Item-Total Correlation above 0.4 To improve the scale's reliability, items SN4 and SN5 were removed, resulting in an increased Cronbach’s Alpha of 0.826, indicating enhanced internal consistency The remaining items were subsequently deemed suitable for exploratory factor analysis (EFA).
The reliability of the PB scale was assessed, and although the Cronbach’s Alpha and Corrected Item-Total Correlation for each item met the necessary standards, the item with the lowest correlation, PB4, was removed to enhance the scale's reliability The remaining items were subsequently accepted for exploratory factor analysis (EFA).
Reliability of P scale The P scale included 17 items with Cronbach’s Alpha
The initial scale demonstrated a reliability coefficient of 0.876, which is considered acceptable, despite containing 17 items It was essential to evaluate the Corrected Item-Total Correlation for each item, leading to the exclusion of any items with a correlation lower than 0.5 (specifically P3, P6, P7, and P17) Following these adjustments, the reliability coefficient of the scale decreased slightly to 0.884, while the correlation of the remaining items showed an upward trend, making them suitable for Exploratory Factor Analysis (EFA).
Summary of Interpretation of Reliability Measurement To assess whether the items in each scale form a reliable scale, Cronbach’s alpha was computed.
The alphas for all scales ranged from 0.8 to 0.9, demonstrating strong internal consistency reliability Additionally, most items within each scale exhibited correlations of 0.50 or higher, confirming the scales' effectiveness.
Scale Cronbach’s Alpha No of items Remaining variables
EI1, EI2, EI3 AT2, AT3, AT4, AT5 SN1, SN2, SN3
Figure 4.1 Cronbach’s Alpha of remaining variables
The Exploratory Factor Analysis (EFA) for the dependent factor, Emotional Intelligence (EI), revealed that the Kaiser-Meyer-Olkin (KMO) values for all factors were above 0.7 and below 1.0, indicating an adequate number of items for each factor Additionally, Bartlett's Test of Sphericity was significant (p < 0.05), confirming that the correlation matrix differed significantly from an identity matrix, suggesting strong correlations among the variables The EI factor also demonstrated Eigenvalues greater than 1.0, a standard criterion for factor utility, and accounted for 72.104% of the total variance explained.
Kaiser-Meyer-Olkin Measure of Sampling
Sphericity Approx Chi-Square 386.751 df 3
Component Initial Eigenvalues Extraction Sums of Squared
Figure 4.2 KMO and Bartlett’s Test of Dependent Factor (EI) and Total Variance Explained of Dependent Factor
The exploratory factor analysis (EFA) was conducted to identify independent factors, concluding after the removal of items P10, P16, and P4 due to their factor loadings being below 0.5 Notably, P4, initially intended to measure "proactive personality," emerged as significantly related to "perceived behavioral control towards entrepreneurial intention." This shift can be attributed to the inherent connection between P4 and the perceived behavioral (PB) scale, as P4 states, "Wherever I have been, I have been a powerful force for constructive change," reflecting a strong desire for positive change However, the correlation between P4 and the PB scale was relatively weak (0.514) compared to other items (PB1, PB2, and PB3), which exceeded 7.0, indicating insufficient support for P4's inclusion Moreover, removing P4 from factor number 3 increased the cumulative variance explained from 59.504% to 60.488%, further suggesting its deletion, as illustrated in Figure 4.3.
P12 If I believe in an idea, no obstacle will prevent me from making it happen.
P8 No matter what the odds, if I believe in something I will make it happen.
P11 I am always looking for better ways to do things .677
P13 I love to challenge the 676 status quo.
P5 I enjoy facing and overcoming obstacles to my ideas.
P1 I am constantly on the lookout for new ways to improve my life.
P9 I love being a champion for my ideas, even against others' opposition.
P2 I feel driven to make a difference in my community, and maybe the world.
P15 I am great at turning problems into opportunities.
AT4 Being an entrepreneur would give me great satisfaction.
AT3 If I had the opportunity and resources, I would love to start a business.
I would rather be an entrepreneur.
AT2 A career as an entrepreneur is attractive for me.
PB3 There are very few circumstances outside my control that may prevent me from becoming an entrepreneur.
PB1 If I wanted to, I could easily become an entrepreneur.
PB2 As an entrepreneur, I would have sufficient control over my business.
P4 Wherever I have been, I 514 have been a powerful force for constructive change.
SN1 My closest family members think that I should pursue a career as an entrepreneur.
SN2 My closest friends think that I should pursue a career as an entrepreneur.
SN3 People that are important to me think that I should pursue a career as an
P12 If I believe in an idea, no obstacle will prevent me from making it happen.
P8 No matter what the odds, if I believe in something I will make it happen.
P14 When I have a problem, I tackle it head-on.
P11 I am always looking for better ways to do things .683
P13 I love to challenge the status quo .673
P5 I enjoy facing and overcoming obstacles to my ideas .620
P1 I am constantly on the lookout for new ways to improve my life.
P9 I love being a champion for my ideas, even against others' opposition.
P2 I feel driven to make a difference in my community, and maybe the world.
P15 I am great at turning problems into opportunities.
AT4 Being an entrepreneur would give me great satisfaction.
AT3 If I had the opportunity and resources, I would love to start a business.
AT5 Among various options, I would rather be an entrepreneur.
AT2 A career as an entrepreneur is attractive for me.
SN1 My closest family members think that I should pursue a career as an entrepreneur.
There are very few circumstances outside my control that may prevent me from becoming an entrepreneur.
SN2 My closest friends think that I should pursue a career as an entrepreneur.
SN3 People that are important to me think that I should pursue a career as an entrepreneur.
PB3 There are very few circumstances outside my control that may
.818 prevent me from becoming an entrepreneur.
PB1 If I wanted to, I could easily become an entrepreneur.
PB2 As an entrepreneur, I would have sufficient control over my
Figure 4.4 demonstrates the distribution of variance across 21 potential factors, revealing that only four factors exhibited eigenvalues exceeding 1.0 This finding supports the initial hypotheses regarding the factor structure Additionally, the cumulative variance explained by these factors is 60.488%.
Kaiser-Meyer-Olkin Measure of Sampling Adequacy 0.899
Bartlett's Test of Sphericity Approx Chi-Square 3506.411 df 190
Component Extraction Sums of Squared Rotation Sum of Square
Total % of Cumu Total % of Total % of
Figure 4.4 KMO and Bartlett’s Test of Dependent Factor (EI) and Total
Variance Explained of Independent Factor
Multiple Linear Regression
Following the evaluation of the measurement scale's reliability and validity, multiple linear regression was employed to test the correlation, hypotheses, and the impact of each independent variable on the dependent variable The findings from the multiple linear regression analysis are illustrated in Figure 4.5 below.
Std Error of the Estimate
Squares df Mean Square F Sig.
The assumption test, detailed in Appendix C, confirmed a linear relationship between the independent and dependent variables, the absence of multicollinearity among the independent variables, and the normality of residuals The analysis included two stages for identifying multicollinearity: examining correlation coefficients and assessing Tolerance/VIF values All variance inflation factors (VIF) were below 10, with correlation coefficients remaining below 0.8 and not reaching 0.5, validating the assumption Additionally, all tolerance values exceeded (1-R²), indicating they were acceptable Consequently, the assumptions for proceeding with multiple linear regression were met.
The ANOVA table revealed a significant F-value of 260, indicating that the predictors effectively forecast entrepreneurial intention As noted by Davis (1971), correlation levels vary from moderate (0.3-0.49) to substantial (0.5-0.69) The correlations table demonstrated that each predictor was associated with the dependent variable, and there was no multicollinearity among the predictors.
The Model Summary table revealed a multiple correlation coefficient (R) of 0.69, with an R² of 0.47 and an adjusted R² of 0.47, indicating that 47% of the variance in entrepreneurial intent can be predicted by attitude, social norm, perceived behavioral control, and an individual's proactive personality Additionally, the adjusted R² exceeding 0.4 suggests that the proposed model effectively explains the independent factors influencing entrepreneurial intent.
The Coefficient table revealed standardized beta coefficients that functioned similarly to correlation coefficients, forming a predictive equation for entrepreneurial intent based on various independent variables The t value and significance level indicated the contribution of each variable to the prediction, with F_AT, F_SN, and F_P significantly enhancing the model when F_PB was considered However, F_PB's results were somewhat misleading; despite its moderate association with the dependent variable and a tolerance value exceeding (1-R²), it did not significantly contribute to the multiple regression model for entrepreneurial intent Notably, F_PB had a significance level greater than 5%, indicating that the hypothesis stating a positive relationship between perceived behavioral control and entrepreneurial intent was not significant and should be excluded from the regression equation The outcomes of the supportive hypotheses were derived from multiple linear regression analyses.
H1: There is a positive relationship between attitude toward entrepreneurship and entrepreneurial intent.
H2: There is a positive relationship between social norms toward entrepreneurship and entrepreneurial intent.
H4: The extent to which people possess a proactive personality will be positively associated with entrepreneurial intent.
The analysis indicates that among the independent variables influencing entrepreneurial intent, attitude toward entrepreneurship (AT) has the highest contribution, followed by proactive personality (P), while social norms toward entrepreneurship (SN) show the least impact Current research on the antecedents of entrepreneurial intent suggests a positive relationship between attitude, proactive personality, and entrepreneurial intent, whereas the connection between social norms and perceived behavioral control can vary For example, Alfonso and Cuevas (2012) found that stronger attitudes toward entrepreneurial behavior and higher perceived self-efficacy lead to increased entrepreneurial intent among Latin Americans However, their study also revealed a significant negative relationship between social value perception and entrepreneurial intent, challenging findings from most existing entrepreneurial intention models.
Research by Prabhu et al (2011) and earlier studies from 1999 suggest a strong positive correlation between proactive personality traits and entrepreneurial intent This finding paves the way for future investigations aimed at uncovering the underlying reasons for this relationship.
Summary of research finding
This study aims to investigate how Ajzen's model of planned behavior and Batteman and Crant's proactive personality framework can predict entrepreneurial intent in Vietnam It builds on previous research that highlights the impact of attitude, social norms, and perceived behavioral control on entrepreneurship, alongside the relationship between proactive personality traits and entrepreneurial intent The findings of this analysis are presented below.
5.1.1 The application of Ajzen’s planned behavior model on entrepreneurial intent in Vietnam’s context
In the study examining entrepreneurial intent in twelve countries (Engle et al.,
Research indicates that attitude is a significant predictor of entrepreneurial intent in six countries: China, Finland, Ghana, Russia, Sweden, and the USA Numerous studies, including those by Ajzen (1991), Krueger et al (2000), and Tung & Mui (2011), have confirmed a positive correlation between attitude and entrepreneurial intent This variable is often recognized as the strongest influence on the desire to start a new business Kivela (2002) found that most students exhibit positive attitudes towards entrepreneurship, largely due to their admiration for entrepreneurs who play vital roles in society (as cited in Lope, 2009).
As tested in previous chapter, the testing hypothesis’s result of this paper conform the application of the construct in Vietnam market, where entrepreneurial activities are more eventful than ever.
The application of social norms in entrepreneurship remains a contentious issue nationwide This study builds on previous research utilizing the planned behavior model to elucidate entrepreneurial intent, contrasting with Kruerger et al (2000), which found no correlation between social norms and the intentions of senior university students Notably, 32.5% of participants reported having family members or friends who own businesses, suggesting that these role models significantly influence their entrepreneurial aspirations Close relationships play a crucial role in shaping behaviors, as encouragement and support from family and friends can enhance entrepreneurial intent In Vietnam, the education system and family culture often promote safe career paths, emphasizing the importance of following the successful examples set by elders and societal norms Ultimately, business students are more likely to embark on entrepreneurial ventures when they receive support from their immediate social circles, reinforcing the impact of social norms on entrepreneurial intent.
The application of the planned behavior model's constructs, particularly regarding perceived behavioral control toward entrepreneurship, shows a unique trend in Vietnam compared to seven other countries (Bangladesh, Egypt, Finland, France, Germany, Russia, and Spain) While self-efficacy is a significant predictor of entrepreneurial intent in those nations, it fails to predict the intent to start a new business among Vietnamese business students, who exhibit low self-efficacy scores This indicates a general lack of confidence and entrepreneurial abilities among these students Additionally, the study reveals a moderate association between self-efficacy and entrepreneurial intent, suggesting that deficiencies in soft skills and practical experience contribute to emotional barriers that hinder their entrepreneurial aspirations.
5.1.2 The application of proactive personality construct (Crant, 1993) in Vietnam market
The concept of proactive personality, introduced by Crant in 1993, has been linked to entrepreneurship among undergraduate and MBA students; however, limited research has focused on its role as a predictor of entrepreneurial intent among business students in Vietnam This study's findings highlight the significance of proactive personality in fostering a propensity for action in establishing new businesses, aligning with previous research by Crant and others Specifically, Becherer and Maurer (1999) noted that proactive individuals tend to shape their environment, leading to a more entrepreneurial company posture and improved sales performance Consequently, business students exhibiting strong proactive traits are not only inclined to initiate new ventures but are also likely to pursue multiple entrepreneurial opportunities, demonstrating a proactive approach to their business environment.
An individual's entrepreneurial intent is significantly influenced by their expectations of achieving desired outcomes, particularly when they have a proactive personality and receive support from key figures in their life Conversely, a lack of confidence in their ability to establish a business can hinder their entrepreneurial aspirations, preventing them from thinking creatively and recognizing their skills and capabilities to successfully start and manage their own ventures.
Managerial implications
Entrepreneurship is a planned behavior that necessitates an exploration of intention models and personality traits to understand entrepreneurial intent Research indicates the importance of delving into the cognitive processes involved, suggesting that entrepreneurship education should focus on enhancing self-efficacy through specific tasks tailored to common business scenarios Additionally, intent is viewed as a critical planning process, facilitating individuals in generating innovative business ideas and developing effective exit strategies Individuals with a proactive personality are more likely to engage in entrepreneurial activities and transition into nascent entrepreneurs, as they challenge the status quo and excel in change management However, these individuals require adequate education and training to equip them with the necessary tools to navigate the challenges of starting their own businesses.
Entrepreneurs are shaped by both inherent traits and learned skills, and educators can enhance entrepreneurship education by adopting a comprehensive model Business students must harness their natural abilities alongside skills that can be developed through training and experience Higher education institutions play a vital role in fostering essential entrepreneurial skills, capabilities, and attitudes by implementing practical, innovative programs that actively engage students in the learning process Many universities, both abroad and in Vietnam, are incorporating real-world entrepreneurial experiences through activities such as seminars, company visits, and practical workshops, as well as establishing entrepreneur clubs with professional advisors, emphasizing hands-on learning and work readiness.
Business students often exhibit low self-efficacy and prefer careers like office work, perceiving entrepreneurship as a risky and competitive path This trend can be attributed to the inadequacy of entrepreneurship education in Vietnamese universities, which tends to emphasize theoretical knowledge over practical experience To enhance entrepreneurial self-efficacy and interest, targeted intervention programs should be implemented, including soft-skill training in leadership, critical thinking, negotiation, presentation, time management, networking, and cross-cultural awareness, alongside practical business skills such as golf basics and professional dining etiquette Additionally, promoting a positive image of entrepreneurship through success stories of notable Vietnamese entrepreneurs and peer entrepreneurs can inspire students Collaborating with universities to create incubators for student entrepreneurship is a practical approach to fostering an entrepreneurial mindset among students.
The findings are crucial for consultants, advisors, managers, and entrepreneurs, as they highlight the cognitive processes and personality traits that influence entrepreneurial intentions Understanding how founders' beliefs, perceptions, and motives converge to shape their intent to start a business can significantly benefit practitioners in supporting new ventures (Krueger et al., 2000).
5.2.4 Implications for Public policy makers
Vietnam is emerging as a prime destination for entrepreneurial activities, allowing anyone with financial resources to pursue entrepreneurship This raises important questions about the government's ability to effectively manage and support these emerging entrepreneurs To align policies with entrepreneurial growth, it is crucial for policymakers to create a conducive environment that nurtures nascent entrepreneurs into successful business leaders For example, the government can bolster support for university students, particularly those studying business, by promoting their entrepreneurial skills and self-efficacy Initiatives such as licensed competitions and entrepreneurial clubs, along with professional assessments and the establishment of entrepreneurial funds, can provide valuable experiences and resources for young entrepreneurs in Vietnam.
Academic context plays a crucial role in shaping students' entrepreneurial intent, as universities can act as catalysts for initiating and developing new business ventures (Ranke & Luthjie, 2004; Tung & Mui, 2011) By implementing courses focused on entrepreneurship and small business management, and fostering a more practical and creative campus environment, universities can inspire students to consider entrepreneurial careers Successful implementation of these initiatives could lead to a significant increase in the number of business students in Vietnam pursuing entrepreneurship, similar to findings by Clark et al (1984), which showed that nearly 80% of students in an introductory entrepreneurship course at a medium-sized American university were contemplating starting their own business, with 76% attributing their decision to the course's strong influence (Tung & Mui, 2011).
Limitation and further research direction
This research acknowledges several limitations that may affect its findings The sample consists exclusively of business students from diploma, bachelor, and MBA programs at local and transnational universities in Ho Chi Minh City, limiting the generalizability of results to the broader non-business student population in Vietnam Additionally, the majority of respondents are undergraduates aged 16-23, raising questions about the durability and clarity of their entrepreneurial intentions While various factors influencing entrepreneurial intent, such as gender and parental background, have been identified in previous studies, this research introduces proactive personality as a subjective predictor Furthermore, time constraints prevented the researcher from conducting follow-up questions to delve deeper into the unexpected influence of perceived behavioral control on entrepreneurship Future research can build on this study, addressing these limitations for a more comprehensive understanding of the topic.
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FACTORS AFFECTING ENTREPRENEURIAL INTENTION IN VIETNAM
Pham Nhat Vuong of Vingroup, Dang Le Nguyen Vu of Trung Nguyen, Le Phuoc Vu of Ton Hoa Sen, and Bau Duc of Hoang Anh Gia Lai are notable figures from Vietnam's first entrepreneurial generation Their success has inspired a new wave of prominent entrepreneurs, leading to a significant rise in entrepreneurial activity that is crucial to Vietnam's economic landscape.
This research examines the cognitive processes influencing entrepreneurial intention, highlighting the significance of teaching and managing entrepreneurial activities in Vietnam Participants in the questionnaire will gain valuable insights into their suitability for an entrepreneurial career By completing the questionnaire objectively, individuals not only benefit themselves but also contribute significantly to the research.
This research defines individuals with "entrepreneurial intent" as those who aspire to start a business venture and actively plan to do so in the future, despite not having established a new business due to unforeseen circumstances The business in question should not be of a small scale, low-skilled manufacturing level, or lacking in marketable products or services.
Please choose one number representing your level / level of agreement for each of below questions.
1: Extremely low level 7: Extremely high level
Extremely low Very low Low Neutral High Very high Extremely high
EI1 To what extent have you considered starting your own business? 1 2 3 4 5 6 7 EI2 To what extent have you prepared to start your own business? 1 2 3 4 5 6 7
EI3 How likely is it that you are going to start your own business within the next five years? 1 2 3 4 5 6 7
Attitude towards entrepreneurial intention Level of agreement
AT1 Being an entrepreneur implies more advantages than disadvantages to me 1 2 3 4 5 6 7
AT2 A career as an entrepreneur is attractive for me 1 2 3 4 5 6 7 AT3 If I had the opportunity and resources, I would love to start a business 1 2 3 4 5 6 7
AT4 Being an entrepreneur would give me great satisfaction 1 2 3 4 5 6 7 AT5 Among various options, I would rather be an entrepreneur 1 2 3 4 5 6 7
Social Norms towards entrepreneurial intention Level of agreement
SN1 My closest family members think that I should pursue a career as an entrepreneur 1 2 3 4 5 6 7
SN2 My closest friends think that I should pursue a career as an entrepreneur 1 2 3 4 5 6 7
SN3 People that are important to me think that I should pursue a career as an entrepreneur 1 2 3 4 5 6 7
SN4 To what extent do you care about what your closest family members think as you decide on whether or not to pursue a career as self-employed?
SN5 To what extent do you care about what your closest friends think as you decide on whether or not to pursue a career as self-employed?
Perceived Behavioural Control towards entrepreneurial intention Level of agreement
PB1 If I wanted to, I could easily become an entrepreneur 1 2 3 4 5 6 7 PB2 As an entrepreneur, I would have sufficient control over my business 1 2 3 4 5 6 7
PB3 There are very few circumstances outside my control that may prevent me from becoming an entrepreneur 1 2 3 4 5 6 7
PB4 It is entirely up to me whether or not I become an entrepreneur 1 2 3 4 5 6 7
Proactive Personality Level of agreement
P1 I am constantly on the lookout for new ways to improve my life 1 2 3 4 5 6 7 P2 I feel driven to make a difference in my community, and maybe the world 1 2 3 4 5 6 7
P3 I tend to let others take the initiative to start new projects 1 2 3 4 5 6 7 P4 Wherever I have been, I have been a powerful force for constructive change 1 2 3 4 5 6 7
P5 I enjoy facing and overcoming obstacles to my ideas 1 2 3 4 5 6 7 P6 Nothing is more exciting than seeing my ideas turn into reality 1 2 3 4 5 6 7 P7 If I see something I do not like, I fix it 1 2 3 4 5 6 7
P8 No matter what the odds, if I believe in something I will make it happen 1 2 3 4 5 6 7
P9 I love being a champion for my ideas, even against others' opposition 1 2 3 4 5 6 7
P11 I am always looking for better ways to do things 1 2 3 4 5 6 7 P12 If I believe in an idea, no obstacle will prevent me from making it happen 1 2 3 4 5 6 7
P13 I love to challenge the status quo 1 2 3 4 5 6 7
When faced with a problem, I confront it directly, transforming challenges into opportunities My ability to recognize valuable opportunities ahead of others sets me apart Additionally, I am always ready to assist those in need, offering help in any way possible.
Please choose one option for each question that best describes you.
□ High school graduate or lower
4 After finishing current program, your degree is granted by:
□ White-collar worker - Management Level
□ White-collar worker - Staff Level
7 Besides your main occupation, do you now have your own business?
8 Do your closest family members have their own business?
9 Do your closet friends have their own business?
CÁC NHÂN TỐ ẢNH HƯỞNG ĐẾN Ý ĐỊNH KHỞI NGHIỆP KINH DOANH TẠI VIỆT NAM
Sau sự thành công của những gương mặt khởi nghiệp đầu tiên như Phạm Nhật Vượng (Vingroup), Đặng Lê Nguyên Vũ (Trung Nguyên), Lê Phước Vũ (Tôn Hoa Sen) và Bầu Đức (Hoàng Anh Gia Lai), ngày càng nhiều câu chuyện khởi nghiệp mới đang được lan tỏa và thu hút sự chú ý tại Việt Nam.
Khởi nghiệp kinh doanh đang phát triển mạnh mẽ và ngày càng trở thành yếu tố quan trọng trong nền kinh tế Việt Nam.
Bài nghiên cứu này khám phá mối liên hệ giữa nhận thức và ý định khởi nghiệp, nhằm cung cấp cái nhìn mới về tầm quan trọng của giáo dục và quản lý khởi nghiệp tại Việt Nam Tham gia khảo sát (khoảng 5’-7’) sẽ giúp bạn hiểu rõ hơn về sự phù hợp của bản thân với ý định khởi nghiệp và đóng góp giá trị cho kết quả nghiên cứu.
Ý định khởi nghiệp kinh doanh được hiểu là những cá nhân có kế hoạch rõ ràng để thành lập doanh nghiệp trong tương lai, mặc dù có thể gặp phải những rào cản không lường trước Doanh nghiệp trong ngữ cảnh này không phải là những cơ sở sản xuất nhỏ, kém phát triển hoặc không cung cấp sản phẩm, dịch vụ ra thị trường.
PHẦN 1: Ý ĐỊNH KHỞI NGHIỆP KINH DOANH
Vui lòng chọn một con số biểu thị mức độ / mức độ đồng ý của Anh/Chị ứng với từng câu hỏi dưới đây.
1: Cực kì thấp 7: Cực kì cao
Cực kì thấp Rất thấp Thấp Trung hòa Cao Rất cao Cực kì cao Ý định khởi nghiệp kinh doanh Mức độ đồng ý
EI1 Anh/Chị cân nhắc về việc khởi nghiệp kinh doanh đến mức nào? 1 2 3 4 5 6 7
EI2 Anh/Chị đã chuẩn bị cho việc khởi nghiệp kinh doanh đến mức nào? 1 2 3 4 5 6 7
EI3 Có khả năng Anh/Chị sẽ khởi nghiệp kinh doanh trong vòng
1: Hoàn toàn phản đối 7: Hoàn toàn đồng ý
Hoàn toàn Phản đối Phản đối nhẹ Trung hòa Đồng ý nhẹ Đồng ý Hoàn toàn phản đối đồng ý
Thái độ đối với ý định khởi nghiệp Mức độ đồng ý
Khởi nghiệp mang lại cho tôi nhiều lợi ích hơn là bất lợi, và tôi thực sự đam mê với việc kinh doanh Nếu có đủ cơ hội và nguồn lực, tôi chắc chắn sẽ bắt tay vào khởi nghiệp Trở thành doanh nhân là điều tôi rất mong muốn và tôi cảm thấy hài lòng với lựa chọn này giữa nhiều nghề nghiệp khác Yếu tố xã hội cũng ảnh hưởng đến ý định khởi nghiệp của tôi, thể hiện qua mức độ đồng ý của tôi với những khía cạnh này.
SN1 Các thành viên gần gũi nhất trong gia đình khuyến khích tôi theo đuổi nghiệp kinh doanh 1 2 3 4 5 6 7
SN2 Những người bạn thân nhất khuyến khích tôi theo đuổi nghiệp kinh doanh 1 2 3 4 5 6 7
SN3 Những người quan trọng trong cuộc sống khuyến khích tôi theo đuổi nghiệp kinh doanh 1 2 3 4 5 6 7
Trước khi quyết định theo đuổi sự nghiệp kinh doanh, việc lắng nghe ý kiến từ các thành viên trong gia đình là rất quan trọng Anh/Chị có nên xem xét quan điểm và cảm nhận của những người thân thiết nhất để đưa ra lựa chọn đúng đắn cho tương lai của mình.
SN5 Đứng trước quyết định có nên theo đuổi nghiệp kinh doanh hay không, Anh/Chị quan tâm đến ý kiến của những người bạn thân nhất đến mức nào?
Nhận thức kiểm soát hành vi đối với ý định khởi nghiệp Mức độ đồng ý
PB1 Nếu muốn, tôi có thể dễ dàng trở thành doanh nhân 1 2 3 4 5 6 7 PB2 Nếu là một doanh nhân, tôi sẽ có đủ năng lực kiểm sóat họat 1 2 3 4 5 6 7
Trang 2/4 động kinh doanh của mình.
PB3 Hầu như không gì ngoài tầm kiểm soát của tôi có thể ngăn tôi trở thành một doanh nhân 1 2 3 4 5 6 7
PB4 Tôi hoàn toàn tự quyết định việc bản thân mình sẽ thành doanh nhân hay không 1 2 3 4 5 6 7
Cá tính chủ động Mức độ đồng ý
Tôi luôn tìm kiếm những phương pháp để cải thiện cuộc sống của mình và cảm thấy cần phải tạo ra sự khác biệt trong cộng đồng cũng như thế giới.
Tôi thường để người khác dẫn dắt trong việc khởi xướng các kế hoạch mới, đồng thời tôi cũng có sức ảnh hưởng mạnh mẽ đối với những thay đổi tích cực ở mọi nơi tôi đến.
P5 Tôi thích đương đầu và vượt qua mọi trở ngại đối với các ý tưởng của mình 1 2 3 4 5 6 7
P6 Không gì thú vị bằng việc chứng kiến các ý tưởng của tôi trở thành hiện thực 1 2 3 4 5 6 7
P7 Nếu tôi thấy thứ gì mà tôi không thích, tôi sẽ sửa đổi nó 1 2 3 4 5 6 7
Dù các ý tưởng có khác thường thế nào đi nữa thì tôi vẫn sẽ hiện thực hóa chúng, miễn là tôi có niềm tin vào việc mình làm.
P9 Tôi luôn bảo vệ ý kiến của mình đến cùng, ngay cả khi phải đương đầu với rất nhiều ý kiến phản bác 1 2 3 4 5 6 7
Tôi có khả năng xuất sắc trong việc nhận diện và tận dụng cơ hội Luôn tìm kiếm những phương pháp làm việc hiệu quả hơn, tôi không ngừng cải thiện bản thân Khi tôi tin tưởng vào một ý tưởng, không có gì có thể ngăn cản tôi hiện thực hóa nó.
Tôi không thích giữ nguyên hiện trạng mà luôn tìm kiếm sự thay đổi Đối diện với khó khăn là cách tôi giải quyết vấn đề, và tôi có khả năng biến những thách thức thành cơ hội Hơn nữa, tôi có thể nhận diện những cơ hội tốt trước khi người khác nhận ra chúng.
P17 Nếu biết ai đó đang gặp khó khăn, tôi sẽ giúp họ bằng mọi cách 1 2 3 4 5 6 7
PHẦN II: THÔNG TIN TỔNG QUÁT
Với mỗi câu hỏi, vui lòng chọn phương án phù hợp nhất với Anh/Chị.
2 Xin vui lòng cho biết tuổi của Anh/Chị:
3 Trình độ học vấn của Anh/Chị:
4 Bằng tốt nghiệp Anh/Chị nhận được sau khi tốt nghiệp được cấp bởi:
□ Trường đại học Việt Nam
□ Trường đại học nước ngoài
□ Trung tâm đào tạo ngắn hạn
5 Nghề nghiệp của Anh/Chị:
□ Sinh viên đại học, cao đẳng
□ Nhân viên văn phòng - Cấp quản lý
□ Nhân viên văn phòng - Cấp nhân viên
6 Xin vui lòng cho biết thu nhập hàng tháng của Anh/Chị:
□ Từ 5 triệu – dưới 10 triệu VNĐ/tháng
□ Từ 10 triệu – đến dưới 15 triệu VNĐ/tháng
□ Từ 15 triệu VNĐ/tháng trở lên
7 Ngoài công việc chính, Anh/Chị có đang kinh doanh không?
8 Các thành viên gần gũi nhất trong gia đình Anh/Chị có kinh doanh không?
9 Những người bạn thân nhất của Anh/Chị có kinh doanh không?
High school graduate or lower 47 11.9
White-collar worker -Management Level 27 6.8
White-collar worker - Staff Level 78 19.7
FACTORS AFFECTING ENTREPRENEURIAL INTENT IN VIETNAM 2
Be owner of a business besides main occupation 279 70.5
Having closest family members as owners of businesses 129 32.5
Having closest friends as owners of businesses 147 37.2
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