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TRA VINH PEOPLE COMMITEE TRA VINH UNIVERSITY TRAN LOI ANALYZING FACTORS IMPACT TO ENTREPRENEURSHIP INTENTION OF YOUTH AT TRA VINH PROVINCE MAJOR BUSSINESS ADMINISTRATION CODE 9340101 SUMMARY OF PhD TH[.]
TRA VINH PEOPLE COMMITEE TRA VINH UNIVERSITY TRAN LOI ANALYZING FACTORS IMPACT TO ENTREPRENEURSHIP INTENTION OF YOUTH AT TRA VINH PROVINCE MAJOR: BUSSINESS ADMINISTRATION CODE: 9340101 SUMMARY OF PhD THESIS TRA VINH, 2023 The dissertation was completed at: Tra Vinh Univeristy Supervisor: Assoc Prof Dr Le Nguyen Doan Khoi Reviewer 1: Reviewer 2: Reviewer 3: The dissertation will be presented to the Univesity Dissertation Board at Tra Vinh University At day month year 2023 The thesis can be found at the libraries as follows: National Library, Library of Tra Vinh University CHAPTER INTRODUCTION 1.1 REASONS FOR CHOOSING THE TOPIC In the context of the current integrated economy, one of the critical factors contributing to the country’s development is the increase in the quantity and quality of private enterprises Therefore, entrepreneurship is a topic of great interest to the government, which intends to increase the ratio of businesses to Vietnam’s population, especially by promoting business creation among young people (Business Development Department, 2017) The government has also adopted policies to encourage and promote the establishment of businesses and support the development of small and medium-sized enterprises, as well as actively implementing activities to support businesses, such as establishing development support funds and a people’s credit fund Explaining the status of young people who only like to work, not own, there are opinions that the current school and university education programs need to meet the knowledge needs of entrepreneurship in Vietnam For these reasons, young Vietnamese people need more knowledge, confidence, and vision to start a business Hence, the research question is what universities, colleges, intermediate schools, families, and society need to so that Vietnamese youth and people in Tra Vinh Province have the passion and confidence to start a business Stemming from this question, the study on “Analysis of factors affecting the entrepreneurial intention of young people in Tra Vinh province” is essential and selected to carry out the Ph.D thesis in Management business 1.2 RESEARCH OBJECTIVE 1.2.1 General objective Researching the factors affecting the entrepreneurial intention of young people in Tra Vinh province and proposing management implications to improve the intention to start a business shortly 1.2.2 Specific objective Determining the factors affecting the intention to start a business among young people in Tra Vinh province; Analyzing the impact of each factor on the entrepreneurial intention of young people in Tra Vinh province; Testing the difference in entrepreneurial intentions of young people in Tra Vinh province according to demographic criteria; Proposing managerial implications to improve entrepreneurial intentions in the coming time 1.3 OBJECT AND THE SCOPE OF RESEARCH Research object: Analyze the factors affecting the entrepreneurial intention of young people in Tra Vinh province Survey object: the research focuses on young people under the Youth Law, who are young people aged between 18 and 34 years old Scope of the research: The dissertation focuses on young individuals who have not started a business in Tra Vinh but intend to start one, including Khmer ethnic people The thesis analyzes and measures the factors affecting the entrepreneurial intention of young people in Tra Vinh province; from there, it proposes management implications to improve the intention to start a business soon Research period: Secondary data was used in the study from 2017 to 2020, and primary data was collected in 2019 1.4 RESEARCH METHODOLOGY The dissertation uses mixed research methods to test the model through two stages: (1) preliminary qualitative and quantitative research to test, adjust, supplement, and standardize the scale (2) A formal quantitative research method to test hypotheses - Qualitative research method is carried out through discussion with two groups: Group includes eight experts in the field of entrepreneurship; Group consists of 10 young people who have started their businesses - Quantitative research method was carried out through a survey— preliminary quantitative research through face-to-face interviews with sufficient research samples by convenience (110 young people) The official survey was conducted using a prepared questionnaire for young people in Tra Vinh province The sample was selected by a convenient method with 400 observations collected, distributed in areas with a relatively high proportion of ethnic minorities, typical of Tra Vinh province CHAPTER BASIC THEORIES AND RESEARCH MODEL 2.1 ENTREPRENEURSHIP The notion of entrepreneurship has evolved as various scholars have contributed diverse perspectives As per Richard’s (1734) perspective, entrepreneurship pertains to being self-employed in any capacity At the onset of the 21st century, the Commission of the European Communities (2003) provided a more precise definition of Entrepreneurship or self-employment It is characterized as the cognitive and operational procedures involved in generating and advancing economic undertakings that merge risk, originality, or novelty hazards in a novel or pre-existing establishment According to Oviatt and McDougall’s (2005) definition, Entrepreneurship encompasses identifying, actualizing, assessing, and utilizing prospects to generate forthcoming commodities and amenities Entrepreneurship refers to the systematic approach of conceptualizing, experimenting, and managing a business venture, typically initiated on a modest scale, as Yetisen et al (2015) stated From an individual standpoint, entrepreneurship can be characterized as the ability and inclination to develop, structure, and oversee a business by assuming risks to attain financial gain (Albadri & Nasereddin, 2019) 2.2 THEORETICAL BACKGROUND 2.2.1 Entrepreneurs There are two main approaches to the definition of an entrepreneur One is the entrepreneur’s personal ethos approach The second is the behavioral approach 2.2.2 Psychological theory The psychological theory focuses on the mental or emotional aspects of an individual’s orientation toward entrepreneurial behavior, emphasizing the role that individual characteristics of the entrepreneur play in this behavior (Landström, 2010) 2.2.3 Sociological theory Sociological theory suggests that context (business environment, politics, law, culture) and social network have an impact on entrepreneurial spirit of entrepreneurs (Granovetter, 1985, 1992; Thornton et al., 2011) 2.2.4 Economic theory The theory of expected value, which was initially proposed by Feather (1982, 1992), is a common economic and behavioral framework for understanding entrepreneurship The Cognitive-motivational theory, commonly referred to as Expected value theory, pertains to the extent to which an individual's expectations align with the anticipated value, whether positive or negative, in pursuit of a particular goal 2.2.5 The resource-based entrepreuneurship theory According to the theory of resource-based entrepreneurship, the ability of entrepreneurs to identify opportunities and achieve growth is significantly influenced by their access to resources and their attachment to them (Alvarez & Busenitz, 2001) 2.2.6 Entrepreneurial intention theory This theory exhibits a strong correlation with the process of generating business risk and aligns with the startup motive based on needs Per this theoretical framework, entrepreneurs will likely cultivate entrepreneurial intentions through introspection and behavioral adjustments contingent upon their adaptability According to MerriamWebster (1987), adaptability refers to adjusting to unusual situations The term “Entrepreneurial Intention” refers to an individual’s inclination to initiate a business venture, which serves as a driving force behind their decision to establish a new enterprise (Wu & Wu, 2008; Miranda et al., 2017) 2.3 CONTENTS USED IN THE RESEARCH RELATED TO ENTREPRENEURSHIP INTENTION The genesis of research that centers on entrepreneurial intent (EI) can be traced back to a collection of articles authored by Shapero (1975), Shapero & Sokol (1982), Bird (1988), and Katz & Gartner (1988) Shlaegel and Koning (2014) conducted a study The category of Entrepreneurial Intent is multifaceted and encompasses a range of activities, including but not limited to opportunity identification and evaluation, motivation, resource acquisition and allocation, risk-taking, creative problem-solving, and management The concept of business was extensively studied by Ajzen in 1987 2.4 LITERATURE REVIEW Table 2.1 A brief review of research related to entrepreneurial intention Research Do Paỗo et al (2011); Bựi Th Thanh et al (2016), Phan Anh Tú et al (2015) Background theory Theory of behavioral intentions (TPB) Ajzen (1991); Entrepreneurship event theory (Krueger et al., 2000) Theory of behavioral intentions (TPB) Fitzsimmons & Ajzen (1991); Douglas (2011); Entrepreneurship event theory (Krueger et al., 2000) Comments The study’s findings indicate that developing entrepreneurial intentions is a multifaceted process that requires integrating conventional intention models and novel theories to provide a more comprehensive explanation This research applies the Krueger et al (2000) entrepreneurial event theory It exclusively examines the interaction between the perceived desire to launch a company and its viability concerning the dependent Research Background theory Comments variable—the intention to launch a business The research was done in a recession setting when business hazards are Theory of behavioral Nabi & Liñán present This is an intriguing proposal intentions (TPB) (2013) since a recession may be both an Ajzen (1991) opportunity and a danger depending on the investor’s mentality Investigate the correlation between familial background and the Bhandari (2012) inclination towards entrepreneurship Theory of behavioral ; Hadjimanolis The present study places significant intentions (TPB) & Poutziouris emphasis on the demographic Ajzen (1991) (2011) attributes of youth that impact their proclivity towards initiating a business venture Guerrero at al (2008); Bùi Thị The findings unambiguously Thanh & demonstrate the correlation between Nguyễn Xuân one’s education level and inclination Hiệp (2016); Theory of behavioral towards entrepreneurship The Ozgen & intentions (TPB) empirical findings indicate a disparity Minsky (2013); Ajzen (1991) in the disposition and inclination to Ali initiate a business venture among Dehghanpour individuals who partake in (2013); Rideout entrepreneurship education initiatives & Gray (2013); Sánchez (2013) The research is centered on examining the correlation between prior entrepreneurial exposure and the inclination toward entrepreneurial Theory of behavioral pursuits Gird & Bagraim intentions (TPB) The study’s findings indicate that the (2008) Ajzen (1991) factor of experience is a crucial recommendation for cultivating a disposition of dedication toward entrepreneurship in the context of this thesis Research Background theory Comments The presence of obstacles in the entrepreneurial process is standard, with barriers to starting a business being a notable factor The impact of these barriers can be either advantageous or disadvantageous, contingent upon the entrepreneur’s mindset (Nabi & Lián, 2013) The perception of the matter may vary among individuals, with some Theory of behavioral perceiving it as a favorable prospect Choo & Wong intentions (TPB) while others may view it as a (2006) Ajzen (1991) potential hazard The presence of an opportunity is likely to influence the inclination to initiate a business venture favorably In contrast, a threat is expected to affect the same intention adversely Hence, the present investigation acknowledges potential hazards while disregarding potential benefits, emphasizing the pivotal significance of entrepreneurial drive in this context (Source: Adapted by author) In short, the author of the thesis shares the perspective of Ajzen (1991) and Nabi & Liñán (2013) based on a comprehensive analysis of research on entrepreneurial intention To become an entrepreneur, one must possess the requisite attitude, motivation to initiate a business venture, and a willingness to undertake calculated risks The study utilized reviewed results to construct a model that examines the interplay between various factors, including entrepreneurial attitude, entrepreneurship education, passion, start-up motivation, start-up barriers, institutional environment, entrepreneurship behavior, and entrepreneurial readiness 2.5 RESEARCH GAP The results of an overview of international and domestic studies show that entrepreneurial intention is affected by many factors, focusing on factors such as entrepreneurial attitude, entrepreneurial motivation, behavior start-up, entrepreneurship education, personal characteristics, start-up experience, and factors of the business environment In addition to the factors of homogeneity in research results, such as attitudes and perceptions (Elfving et al., 2009; Shariff and Saud, 2009); However, other factors are still not consistent in research results, such as entrepreneurial behavior (Ruhle et al., 2010; Paco et al., 2011), entrepreneurship education (Johansen and Schanke, 2013) ; Gorman et al., 1997); personal characteristics (Tong et al., 2011); start-up experience (Basu and Virick, 2008; Davidsson, 1995), Government support for starting a business (Lüthje and Frank, 2003); gender, age, and educational attainment (BarNir and Watson, 2011; and Shinnar and Giacomin, 2012) The theory of planned behavior by Ajzen (1991) emphasizes the role of individual characteristics of the entrepreneur as important as attitude, subjective norm, and behavioral control in affecting the intention to start a business The industry is practiced in many places, such as in Vietnam (Phan Anh Tu & Giang Thi Cam Tien, 2014), South Africa (Nieuwenhuizen & Swanepoel, 2015), Malaysia (Kadir et al., 2012), Scandinavia and the US (Autio) et al., 2001), or Norway (Kolvereid, 1996), but this theory ignores or rarely mentions the important role of context factors, such as entrepreneurship education and business environments business, family characteristics (Kolvereid, 1996; Carr & Sequeira, 2007; Walter & Dohse, 2009) Moreover, the literature review findings indicate that the variable of “government support” has been infrequently examined in prior research frameworks Several studies have examined this matter across various social contexts, resulting in diverse scientific findings contingent upon the social conditions 2.6 BUIDING RESEARCH MODEL AND HYPOTHESIS Proposed research model Entrepreuneurship Passion Business Willingness Business Experience Entrepreuneurship Emotion Entrepreuneur intention Institutional Environment Entrepreuneurship Behavior Entrepreuneurship Education Control variables: Age, gender, ethnic, educational level, tảng gia đình Entrepreuneurship Motivation Entrepreuneurship Restriction Hình 2.2 Proposed research model (Source: Adapted and adjustment by author) CHAPTER RESEARCH METHODOLOGY 3.1 RESEARCH DESIGN 3.1.1 Research methodology 3.1.1.1 Premilinary study The initial investigation comprises a qualitative inquiry examining the determinants that influence the entrepreneurial inclination of youth in Tra Vinh province The present study employed a mixed-methods approach, utilizing preliminary qualitative research adapted from existing scales of prior investigations and preliminary quantitative research to construct survey questionnaires to conduct official research 3.1.1.2 Formal study The research methodology employed in this study involved using direct questioning techniques on a sample of 400 individuals who have yet to initiate any entrepreneurial endeavors but have expressed their intention to so in the future The formal quantitative study utilized a 3.3 QUANTITATIVE RESEARCH After conducting qualitative research to identify the main factors affecting youth entrepreneurship intention, the observed scale variables have been adjusted to suit the practice in Tra Vinh—the results of the scale of factors affecting the entrepreneurial intention of young people 3.4 OFFCIAL STUDY The official study was conducted to provide data to test the scale and research hypotheses by quantitative research method on the questionnaire with the detailed questionnaire on the selected sample The author directly interviews young people who have yet to start a business in Tra Vinh province, and then the questionnaire will be collected for analysis 3.5 QUESTIONNAIR BUIDING To conduct quantitative research, the author has built a questionnaire to serve the survey 3.6 DATA ANALYSIS MOTHODS Statistical analysis: The statistical methods used in the study are as follows: Using graphical methods, descriptive statistical analysis methods with indicators such as ratio, mean, and standard deviation Graph method: According to Mai Van Nam (2008), it is defined that graph method is a method of presenting and analyzing statistical information through statistical charts, graphs, and maps Descriptive statistical analysis method: According to Mai Van Nam (2008), it is defined that descriptive statistical analysis methods are methods related to data collection, summary, presentation, and calculation Furthermore, describe different characteristics to reflect the object of study in general Frequency analysis method: According to Vo Thi Thanh Loc (2001), performing frequency analysis will describe and learn about the distribution characteristics of a raw data sample; making a frequency distribution table is necessary The frequency table must be prepared A frequency distribution table summarizes data arranged in a particular order - ascending or descending Testing the scale’s reliability: When using the Likert scale to collect the necessary information, statistics are necessary to check the rigor and correlation between observed variables in factor groups Examine the correlation between the variables and the correlation of the scores of each variable with each respondent’s total variable scores Exploratory factor analysis: After eliminating variables that not guarantee reliability, exploratory factor analysis (EFA) is applied to 11 reduce the observed variables and identify new factors affecting young people’s entrepreneurial intentions Multivariable regression analysis: Using multivariate regression analysis method to estimate the impact of new factors drawn from the factor analysis (independent variable) on young people’s entrepreneurial intention (dependent variable) and guaranteed to be statistically significant The multivariable regression model represents the relationship between two or more independent variables and a quantitatively dependent variable Applied in the thesis, modeling the relationship between the factors: Entrepreneurial passion, business readiness, business experience, entrepreneurial attitude, institutional environment, entrepreneurial behavior, education entrepreneurship education, start-up motivation, and start-up barriers The regression model has the following form: Yi = β0 + β1EPi + β2BWi + β3BEi + β4EEi + β5IE i + β6EB i + β7EED i + β8MOi + β9ER i + ɛi In which: Yi: Dependent variable, (EI); EP, BW, BE, EE, IE, EB, EED, MO, ER: Independent variables; β0: reflects the degree of impact of other factors on the analytical criteria (in addition to the given analytical criteria); β i (i = 1, k): These regression coefficients reflect the level of impact of each factor on the analytical criteria If β > 0: positive effect; β < 0: negative effect, the larger the β, the stronger the impact on the analytical criteria CHAPTER RESEARCH RESULTS AND DISCUSSION 4.1 CURRENT SITUATION OF ENTREPRENEURSHIP ANALYSIN AT VIET NAM The number of newly registered enterprises in Vietnam has risen in recent years, indicating a growing start-up landscape across various provinces In 2018, the count of recently established enterprises across the nation exceeded 131,000, with the Mekong Delta region accounting for over 9,000 of these enterprises Over time, the gradual rise in the number of businesses has been dispersed among various geographic locations across the nation In 2018, the Southeast region exhibited the highest number of businesses, surpassing 55,000, while the Red River Delta region followed with over 38,000 businesses In contrast, the Central Highlands region had the lowest number of businesses, just over 3,000 12 4.2 CURRENT SITUATION OF ENTREPRENEURSHIP ANALYSIN AT TRA VINH PROVINCE 4.2.1 Curent situation of start-up ecosystem in Tra Vinh provine Implementing Decision No 1120/QD-UBND dated June 16, 2017, on the promulgation of the Project to support the development of start-up businesses in Tra Vinh province for the period 2017-2020, the province has had several activities to build a start-up ecology: organizing Tra Vinh Start-up Festival 2018; conducting several seminars, workshops, and training courses on entrepreneurship; improve the facilities of the Business Incubator on the campus of Tra Vinh University; bringing entrepreneurship training programs into the education and training system of Universities and High Schools, etc 4.2.2 Current policies The province has preferential policies and supports on business establishment, tax, capital for SMEs, and science and technology enterprises 4.3 DEMOGRAPHIC Table 4.2 Survey sample characteristics Frequency Rate (%) Male 273 68,3 Female 127 31,7 Gender 400 100,0 Total Employee 52 13,0 Family support 153 38,3 Pupil/students 89 22,3 Occupation Others 106 26,4 Total 400 100,0 Khmer 95 23,8 Other 305 76,2 Ethnic Total 400 100,0