INTRODUCTION
Background of research
Vietnam is experiencing a surge in entrepreneurship, driven by innovative businesses and their founders gaining popularity nationwide Since the launch of the "Vietnamese National Start-up" initiative in 2016, the Vietnamese government has been actively exploring new strategies to encourage the establishment of startups This period marks a significant socio-economic development phase, with growing interest in entrepreneurship reflected in a report by the Ministry of Planning and Investment.
2016 - 2019, the number of Vietnamese enterprises increased by 10.5%, on average, more than 100,000 new enterprises were established each year, twice as high as in the 2011-
By the end of 2020, Vietnam had approximately 810,000 enterprises and 7 million business households, with small and medium enterprises making up 97% of this total The government has been actively improving the investment and business environment and refining the legal framework to foster enterprise development Notably, Vietnam signed three Free Trade Agreements (FTAs) with the European Union (EVFTA), ASEAN, and five countries (RCEP), along with an agreement with the United Kingdom (UKVFTA) in 2020, enhancing business opportunities and global market access However, Vietnam ranks among the bottom 20 countries for business plan execution, with less than 10% of startups being successful, according to a 2019 VCCI survey Despite a high entrepreneurial spirit, challenges such as market instability, complex capital management, and significant risks hinder many young entrepreneurs from recognizing the importance of effective business risk management.
Entrepreneurs play a crucial role as decision makers, making it essential for them to grasp the principles of risk management Properly identifying and assessing risks is vital, as their choices significantly influence the formation, growth, and sustainability of their businesses.
Personality traits significantly influence individual behavior and perceptions, making each person unique These traits can also predict the risk attitudes of decision-makers, highlighting the importance of understanding personality in the context of decision-making (Beyer et al., 2015).
Risk attitude refers to an individual's mindset that can significantly impact decision-making, potentially leading to positive or negative outcomes (Hillson and Murray-Webster, 2005) It is closely linked to how one perceives risk—whether as an opportunity or a threat—and reflects their understanding of uncertainty across various domains, including ethics, finance, health, safety, leisure, and social interactions (Weber et al., 2002) Additionally, the Big-Five personality model, which assesses traits such as openness, conscientiousness, extroversion, agreeableness, and neuroticism, has been a leading framework for understanding personality since the 1980s Research indicates that these traits can influence career choices and job performance (John et al., 2008; Rauch, 2014) A study by Lee & Foo (2020) on construction industry managers in Malaysia found significant relationships between the Big-Five personality traits and their risk attitudes.
Optimism and pessimism shape our expectations for the future, influencing various aspects of life, such as relationships and finances Striking a balance between these attitudes is essential for successful living, as excessive optimism can lead to reckless financial decisions, while overwhelming pessimism may result in avoidance and inaction Research indicates that these mental attitudes are interconnected with specific physiological processes, affecting our thoughts, feelings, and decision-making.
3 behaviors Therefore, optimism and pessimism are two important factors when studying the relationship between personality traits and risk attitudes
National culture plays a crucial role in influencing corporate behavior at the individual level, as highlighted by Hayton et al (2002) Different countries exhibit varying cultural environments that either foster or hinder entrepreneurship, shaped by their unique economic, social, and cultural contexts Consequently, the personality traits of entrepreneurs differ across nations To accurately understand the personality characteristics of Vietnamese entrepreneurs, it is essential to rely on research conducted within Vietnam This article marks the initiation of a comprehensive study focused on the personality traits and risk attitudes of Vietnamese business leaders.
This study explores the relationship between the Big Five personality traits and risk attitudes among young Vietnamese entrepreneurs, aiming to determine if individual personality traits influence their risk acceptance Utilizing the Big Five Inventory (BFI), Extended Life Orientation Test (ELOT), and Domain Risk-Attitude (DOSPERT), the research seeks to characterize the general personality profiles of these entrepreneurs and assess how these traits correlate with their risk attitudes The findings aim to provide valuable insights for policymakers, investors, and advisors in understanding the risk behaviors of young business leaders in Vietnam.
Problem statement
Personality traits play a crucial role in enhancing organizational performance, as they can predict creativity and foster innovative thinking when an optimal balance is achieved (Buchanan, 1998) In a business context, risk attitudes—ranging from risk-seeking to risk-averse—significantly impact decision-making For instance, a risk-averse individual may choose to pass on potential benefits from a deal to avoid the uncertainties associated with possible economic losses.
Research indicates that an individual's perception of risk can influence their shift from risk aversion to risk-seeking behavior Understanding personality traits is crucial for analyzing decision-making in risky situations However, there is a lack of formal research examining the interplay between personality traits and risk attitudes in Vietnam This study seeks to explore the personality characteristics of young Vietnamese entrepreneurs through a behavioral psychology lens, aiming to determine whether globally studied entrepreneurial traits are relevant in explaining the behaviors of these young entrepreneurs.
This study builds on Yoo and Lee's (2020) model by incorporating optimism and pessimism to examine the relationship between personality traits and risk attitudes among young Vietnamese entrepreneurs The findings highlight the general personality traits prevalent in this demographic and their influence on risk profiles, providing valuable insights for policymakers in business and serving as a comprehensive resource for both domestic and international investors Additionally, these results offer business consultants a targeted approach for analyzing the behaviors of young entrepreneurs prior to offering advice.
Research objective
Exploring the connections between personality traits, optimism, pessimism, and risk attitudes uncovers significant variations in how decision-makers approach uncertainty based on their behaviors This insight is crucial for crafting an effective risk management strategy.
This study will enhance the understanding of Vietnamese entrepreneurs' behavior, providing valuable insights for policymakers in developing new regulatory policies Additionally, it will assist investors in formulating sound financial recommendations.
Scope of the research
This study aims to explore two primary objectives by targeting young Vietnamese entrepreneurs who are founders or owners of businesses in Vietnam To investigate the phenomenon and test the hypotheses presented in the subsequent chapter, quantitative questionnaires will be utilized.
Significance of the research
This study investigates the prevalent personality traits among young Vietnamese entrepreneurs and explores how these traits influence their risk attitudes Utilizing a questionnaire, data was collected from 167 participants, and quantitative methods were employed to analyze the findings and test the proposed hypotheses.
Entrepreneurship in Vietnam is thriving, significantly impacting the nation's socio-economic growth This study serves as a valuable resource for aspiring entrepreneurs, highlighting common personality traits and acceptable risk levels, enabling them to develop tailored risk management plans Additionally, it offers insights for policymakers in formulating supportive initiatives for entrepreneurs and assists bankers and investors in delivering informed financial guidance.
The literature review reveals a significant gap in academic research regarding the personality traits and risk attitudes of young Vietnamese entrepreneurs Given the limited studies available on this demographic, it is essential for scholars to explore this area further and consider relevant methodologies for measuring these variables effectively.
6 results of this article show the common characteristics and risk attitudes of Vietnamese entrepreneurs and also useful for future research orientation on Vietnamese entrepreneurs.
Thesis structure
This thesis consists of 5 chapters:
Chapter 1: Introduction – Explaining basic ideas of the research in terms of the background, objective, scope, and significance of the research.
LITERATURE REVIEW
Risk management in business
Enterprise risk management encompasses the strategies and processes that organizations use to address various risks while capitalizing on opportunities to meet their goals (Wu & Olson, 2009) It involves identifying, analyzing, and mitigating uncertainties in investment decisions, ultimately managing threats effectively According to Sadgrove (2016), business risks can be categorized into two types: traditional dangerous risks, such as fire, pollution, or fraud, which companies typically mitigate through insurance, and opportunity risks, which arise from new initiatives like product launches or acquisitions Misjudgments in forecasting can lead to significant challenges for businesses in these scenarios.
Managing risks is crucial for business success, as it fosters innovation; without innovation, a business is likely to fail Organizations that seek to eliminate all risks may hinder their ability to create value.
Effective risk management is essential for businesses, as it involves analyzing future events stemming from current actions Managers must explore various options for addressing problems and assess potential outcomes to mitigate costs, disruptions, and dissatisfaction By identifying which risks are worth pursuing and which should be avoided, companies can tailor risk management strategies to their specific needs This not only educates employees about corporate risk but also enhances overall business efficiency Additionally, risk management tools may include innovative financial solutions that integrate finance, insurance, and capital market strategies.
Risk attitudes
The business landscape is inherently risky, particularly for those pursuing high growth opportunities Since the dawn of the 21st century, entrepreneurship has significantly evolved, despite the persistent challenge of business failure rates According to Capital & Services, approximately 6.5 million businesses are launched annually, yet only a select few achieve long-term success Notably, the statistics reveal a concerning trend: the failure rate is 21.5% within the first year, escalating to 30% by the second year, 50% after four years, and a staggering 70% after a decade In certain countries, this figure can soar to as high as 90%.
Startup Statistics by Industry | NBC&S) So what attracts individuals to start a business with at least one employee? One outstanding explanation is risk attitudes (Astebro et al.,
Discussions surrounding risk and entrepreneurship trace back to Knight (1921), who argued that entrepreneurs distinguish themselves through their ability to manage business risk and uncertainty These individuals possess a keen acumen for identifying risks and seizing opportunities Building on this foundation, Kihlstrom and Laffont (1979) introduced a widely recognized theoretical model, suggesting that individuals with high risk aversion are less likely to engage in entrepreneurial activities.
Individuals with a high tolerance for risk often pursue entrepreneurship, while those who are risk-averse tend to prefer stable employment with consistent wages According to Astebro et al (2014), the standard expected utility model illustrates that most people's utility functions reflect a preference for lower risk However, a minority of less risk-averse individuals may be drawn to potentially high returns from risky ventures like trading Factors such as financial constraints, personal risk preferences, and the pursuit of entrepreneurship significantly influence decision-making in these contexts.
Risk attitude refers to how individuals evaluate situations based on their intent, leading to either favorable or unfavorable perceptions (Rohrmann, 2005) Key characteristics of risk attitudes include risk bias and risk aversion, while various factors influence these attitudes (Hillson & Murray-Webster, 2007) Risk is dynamic and varies across different contexts, with individuals exhibiting sector-specific attitudes related to physical, financial, and social risks Weber et al (2002) identified five domains of risk scenarios—ethical, financial, safe, recreational, and social—forming the domain-specific risk attitudes (DOSPERT) scale This measure is shaped by risk-taking behaviors and perceptions of expected benefits, though its reliability has been questioned (Lửnnqvist et al., 2015) Individual risk assessments are unique and can vary significantly across different situations, with motivations for risk tolerance influenced by the context (Pearson et al., 2002) Additionally, gender plays a role, as women tend to exhibit greater risk aversion than men, except in social contexts The interplay of gender differences and risk-taking behaviors highlights how individuals perceive risks based on potential benefits Furthermore, risk awareness is influenced by multiple factors, which Murray-Webster & Hillson (2008) categorized into three interrelated groups, emphasizing that risk perceptions cannot operate independently.
9 react to any given situation based on three factors
Risk attitude refers to an individual's tendency towards risk-taking or risk-aversion, influencing their decision-making in business This concept explores how personality traits affect one's willingness to accept risk and the subsequent impact on business outcomes Understanding these characteristics is crucial for assessing risk management strategies and overall performance.
Big five personality traits
The Big Five personality traits, known as OCEAN, encompass openness, conscientiousness, extroversion, agreeableness, and neuroticism This multidimensional model for character identification was initially proposed by Fiske in 1949 and further validated by subsequent research from Norman in 1967, as well as McCrae and Costa.
Research indicates that the Big Five personality traits significantly impact career choices and job performance (Rauch, 2014) According to John et al (2008), these five overarching traits encompass a unique set of characteristics.
• Openness to experience: Describe the breadth, depth, originality, and complexity of an individual's spiritual and experimental life
• Conscientiousness: Express the behavioral control and is also dictated by surroundings to facilitate task- and goal-oriented behavior
• Extraversion: Includes sociability, assertiveness, and positive emotions Implies a positive approach to society
• Agreeableness: Shown by traits such as altruism, tenderness, dependability, and humility
• Neuroticism: Expressed by emotional instability, often negative and often feel anxious, stressed
Personality traits are not immediately visible; they require interpretation through measurable responses Research by Zhao & Seibert (2006) indicates that entrepreneurs typically exhibit higher levels of openness to experience (O+), conscientiousness (C+), and extroversion (E), while demonstrating lower levels of agreeableness (A-) and neuroticism (N-) However, findings from various studies may present differing perspectives on these traits.
A recent study involving 218 entrepreneurs and managers in a major Canadian city revealed discrepancies in the Big Five personality model, indicating that entrepreneurs exhibited significantly lower levels of conscientiousness and agreeableness (Envick & Langford, 2000) This finding highlights the need to reassess the applicability of the Big Five model in evaluating entrepreneurial traits The subsequent analysis will delve into each of the five characteristics of the Big Five model in detail.
Openness is the most controversial of the five factors of the Big 5 model (McCrae
Research indicates that entrepreneurs are often drawn to dynamic environments and the challenges presented in the business landscape (John, 1992; Funder & Sneed, 1993) Those who thrive in these situations typically develop innovative solutions, business models, and products Therefore, it is hypothesized that an entrepreneur's openness enhances their ability to navigate such challenges, suggesting that both their environment and job requirements favor individuals with higher levels of openness.
According to McCrae and Costa Jr (1997), interpersonal differences in openness can be categorized based on cultural influences and cognitive abilities Openness is distinct from skill and knowledge, as it involves a person's pursuit of new experiences for personal growth Traits such as curiosity, creative thinking, and a willingness to embrace unique ideas characterize open-minded individuals, who often experience intense emotions In contrast, individuals with low openness tend to adhere to conventional attitudes, displaying dogmatism and rigidity in their beliefs, and typically exhibit less emotional reactivity.
Conscientiousness is a key personality trait linked to ego and enduring strength, often described by concepts like will, initiative, and responsibility According to Costa Jr et al (1991), this trait includes both reactive and proactive dimensions.
Conscientiousness is characterized by an individual's commitment to their work and desire for achievement, balanced by a cautious approach to moral considerations Key aspects of conscientiousness include competence, order, seriousness, gain, self-discipline, and consideration (Costa Jr et al., 1991) This trait reflects one's level of organization, resilience, and goal-oriented behavior Individuals with high conscientiousness are typically well-organized, independent, diligent, self-disciplined, careful, ambitious, and persistent Conversely, those with low conscientiousness often display aimlessness, laziness, carelessness, and hedonism (Widiger & Costa, 2012).
Conscientiousness, characterized by achievement, motivation, and confidence, plays a crucial role in entrepreneurial success A review of 41 research papers by Collins et al (2004) indicates that entrepreneurs with high levels of conscientiousness are more likely to achieve greater success Researchers suggest that highly motivated individuals prefer environments where success is influenced by psychological factors rather than large institutional settings, where outcomes may depend less on personal effort.
Conscientiousness, alongside agreeableness, is highly valued in personality traits, representing the dichotomy of 'good' versus 'evil' and 'strong will' versus 'weak will.' This trait encompasses organization and behavior, guided by one's conscience and diligence (Widiger & Costa, 2012) Research indicates that conscientiousness plays a crucial role in regulating impulsive behavior (Lee & Foo, 2020).
Extraversion is a personality trait that reflects an individual's level of activity, sociability, and enthusiasm (Costa Jr & McCrae, 1992) Highly extroverted individuals are typically more socially engaged, talkative, optimistic, and likable, while those with lower extroversion scores are often more independent and reserved It's important to note that non-extroverts are not necessarily socially hostile; rather, they may simply prefer quieter environments and interactions.
12 pessimists, they often dislike spiritual experiences compared to extroverts (Widiger & Costa, 2012)
Extroversion is a key personality trait characterized by distinct patterns of feelings, actions, thoughts, and goals It plays a crucial role in understanding various behaviors and is recognized as a fundamental aspect of personality Research indicates that extroversion is linked to improved efficiency and well-being across multiple domains, including cognitive performance, social engagement, and socioeconomic status Additionally, extroversion serves as a significant predictor of risk-taking and resilience in various mental health contexts (Leary & Hoyle, 2009).
Researchers suggest that entrepreneurial extroversion may be higher than in other fields, as entrepreneurs must effectively sell their ideas to partners, employees, customers, and investors (Kerr et al., 2017) Conversely, Envick & Langford (2000) argue that entrepreneurs often prefer to establish small businesses to avoid the bureaucratic complexities that require diplomatic skills Additionally, Zhao & Seibert (2006) found no significant difference in extroversion levels between entrepreneurs and related groups, such as management.
Extroversion relates to an individual's preference for social interaction, while agreeableness plays a crucial role in interpersonal behavior It shapes how individuals perceive others and influences their attitudes and originality Factors defining agreeableness include trust, frankness, altruism, obedience, humility, and tenderness (Costa Jr et al., 1991) Interestingly, entrepreneurs are often seen as having lower levels of agreeableness, as they tend not to prioritize pleasing others, focusing instead on their path to becoming CEOs (Kerr et al.).
Individuals with high agreeableness seek to foster pleasant and likable interactions, influencing their partners' behavior positively Rather than viewing agreeableness as a fluctuating trait that merely impacts mood, it acts as an equal contributor to social dynamics The presence of individuals with varying levels of agreeableness can significantly alter interpersonal situations (Leary & Hoyle, 2009) Conversely, those with low agreeableness often exhibit skepticism, rudeness, and irritability, displaying manipulative or cruel tendencies (Widiger & Costa, 2012).
Optimism and Pessimism
Optimism and pessimism represent a continuum of thought regarding future outcomes, rather than a strict binary, as noted by Hecht (2013) Research indicates that these mindsets engage different cerebral hemispheres; specifically, individuals with high self-esteem and cheerful dispositions tend to focus on positive aspects of situations This optimistic outlook, linked to a belief in a brighter future, is associated with increased physiological activity in the left hemisphere of the brain.
A pessimistic outlook, characterized by an emphasis on negativity and an exaggerated perception of problems, is linked to neurophysiological processes in the right hemisphere of the brain, resulting in low self-esteem and a bleak perspective on the future.
Achieving success requires a careful balance between optimism and pessimism, as highlighted by Kahneman (2011) While a healthy dose of optimism can motivate individuals to pursue opportunities, excessive optimism may drive them to take reckless financial risks that can lead to disastrous outcomes Conversely, extreme pessimism can result in an aversion to financial risks, causing individuals to be overly cautious and reluctant to embrace new challenges.
Optimism is characterized by an individual's inclination to hold unrealistic beliefs about favorable outcomes (Astebro et al., 2014) Optimists actively seek positive reinforcement from their surroundings and often disregard information that contradicts their optimistic perspective (Hecht, 2013) Consequently, individuals with higher levels of optimism tend to focus on the brighter side of situations.
Entrepreneurs are typically characterized by high self-esteem, enthusiasm, and a willingness to take risks, which contributes to their optimistic outlook They often make decisions about business development with an optimistic perspective on future outcomes According to Charles S Carver (2010), this task-focused approach of optimists is linked to economic success While there are occasions when excessive optimism may lead to disadvantages, these instances are relatively uncommon Overall, the behavioral patterns exhibited by optimists serve as valuable models for others to emulate.
Pessimists tend to focus more on negative signals while overlooking positive aspects, leading to increased depression and excessive worry (Hecht, 2013) Individuals with high pessimism scores are often more influenced by their environment and display timid, less sociable traits Previous research on entrepreneurs has primarily explored the link between optimism and risk-taking, neglecting the potential relationship between pessimism and risk attitudes This oversight suggests a lack of distinction between optimism and pessimism in earlier studies, which treated them as one-dimensional traits To address this gap, the author aims to investigate the connection between pessimism and risk attitude through psychological research.
The personality traits and risk attitude
Personality traits and risk attitudes have evolved over time, with ongoing development of new trait dimensions by researchers Social psychologists have popularized the concept of attitude in relation to human behavior According to Ajzen (2005), there is a correlation between attitudes, behaviors, and personality traits Both attitudes and personality traits are hypothetical constructs that cannot be directly observed; instead, they must be inferred from measurable responses (Lee & Foo, 2020).
The impact of re-reading on an individual's attitude can be assessed through various responses, including cognitive, emotional, and agreeable reactions (Ajzen, 2005) This aligns with the findings of Murray-Webster and Hillson (2008), who identified a triad influencing risk attitudes Planning behavioral theory indirectly correlates attitude and personality traits, with studies categorizing factors affecting risk perception into three groups: rational consciousness, subconscious influences, and emotional factors Notably, personality traits from the Big Five, such as psychosis and extroversion, play a role in how emotions are utilized, reflecting optimistic and pessimistic tendencies that shape risk perception and attitudes Conscious factors focus on rational judgments regarding risk severity, while optimism enhances risk acceptance and pessimism reduces risk tolerance Consequently, this study posits a relationship between personality traits and risk attitudes, leading to the formulation of specific hypotheses illustrated in Figure 2.6.1.
Relationship between openness (O) to experience to risk attitude
Openness to experience refers to an individual's readiness to pursue new experiences, indicating that those with high openness are more inclined to embrace uncertainty and risk for personal growth Conversely, individuals with low openness are less likely to take risks for new opportunities Research by McGhee et al (2012) highlights a correlation between openness and risk-taking behavior, further supported by findings from Lee & Foo (2020).
17 relationship between these two variables Therefore, this study assumes that there is a positive relationship between openness and experience and risk attitudes
Hypothesis 1 (H 1 ): Openness to experience relates positively to risk attitude
Relationship conscientiousness (C) to experience to risk attitude
Conscientiousness is characterized by an individual's sense of responsibility and goal-oriented behavior, with those scoring high in this trait often being well-organized and making careful decisions Research indicates that individuals with high conscientiousness tend to be more cautious regarding risks (Widiger & Costa, 2012), while studies (McGhee et al., 2012) show a significant correlation between low conscientiousness scores in teenagers and increased risk-taking behavior Thus, this study highlights a negative relationship between conscientiousness and risk attitudes.
Hypothesis 2 (H 2 ): Conscientiousness relates negatively to risk attitude
Relationship between extraversion (E) to experience to risk attitude
Extroversion is characterized by an individual's cognitive and emotional engagement in social relationships Those who score high in extroversion are more inclined to take risks to cultivate beneficial social connections, such as intimacy and interdependence Research indicates that adolescents with elevated extroversion scores often exhibit risk-taking behaviors, highlighting a positive correlation between extraversion and risk attitudes.
Hypothesis 3 (H 3 ): Extraversion relates positively to risk attitude
Relationship between agreeableness (A) to experience to risk attitude
Agreeableness exists on a spectrum ranging from compassion to antagonism, highlighting the complex relationship between empathy and hostility (Widiger & Costa, 2012) This contrast complicates the analysis of risk in relation to comfort levels Moreover, individuals' perception of risk is shaped by the nature of the risks they encounter, especially in situations that pose potential threats to their health and well-being.
Research indicates that individuals with high agreeableness prioritize their well-being by avoiding health risks, while those with low agreeableness tend to exhibit antagonistic behaviors and a lack of cooperation This suggests a negative correlation between agreeableness and risk attitudes, supporting the hypothesis that higher agreeableness is associated with lower risk-taking behaviors (Widiger & Costa, 2012).
Hypothesis 4 (H 4 ): Agreeableness relates negatively to Risk Attitude
Relationship between neuroticism (N) to experience to risk attitude
Neuroticism is a personality trait that highlights an individual's emotional stress in response to their environment and society Those with high neuroticism scores are more prone to emotional stress and tend to steer clear of stressful or risky situations (Lee & Foo, 2020) This tendency stems from their difficulty in managing emotions and desires during upsetting experiences (Widiger & Costa, 2012) Consequently, this study posits that there is a negative correlation between neuroticism and risk attitudes.
Hypothesis 5 (H 5 ): Neuroticism relates negatively to Risk Attitude
Relationship between optimism (OP) to experience to risk attitude
Optimism makes people take risks more appropriately (Houghton & Johnson,
Research indicates that individuals engaged in business tend to exhibit higher levels of optimism compared to those outside the field Puri and Robinson (2007) highlight that entrepreneurs face greater risks in their decision-making and often experience more significant income losses.
A comparison of self-estimated life expectancy from the Consumer Finance Survey reveals that optimistic individuals tend to engage in high-risk financial decisions, with those who overestimate their lifespan more likely to pursue entrepreneurship Research by Shane (2008) indicates that entrepreneurs often exhibit overconfidence in their performance estimates Additionally, data from the Global Entrepreneurship Monitor (GEM) shows that U.S.-based entrepreneurs anticipate generating at least $10 million in regular revenue, while actual earnings are typically only one-fifth of that expectation.
A study by Bengtsson and Ekeblom (2014) analyzed monthly survey data from 153 Swedish and non-Swedish entrepreneurs regarding their beliefs about Sweden's economic conditions 13 years ahead The findings revealed that while these entrepreneurs exhibited a higher level of optimism about the economy, they also demonstrated fewer forecast errors Consequently, the research suggests a positive relationship between optimism and risk attitudes among entrepreneurs.
Hypothesis 6 (H 6 ): Optimism relates positively to risk attitude
Relationship between pessimism (PE) to experience to risk attitude
Pessimism is linked to lower risk tolerance, as noted by Houghton and Johnson (2009) A study by Dawson et al (2014) analyzed income expectations from a UK Household Council study spanning 1991 to 2008, revealing that optimistic entrepreneurs tend to earn less than their pessimistic counterparts, particularly at the higher end of the income spectrum This indicates that pessimistic entrepreneurs prefer low-risk decisions that yield modest returns, opting for stability over high-risk, high-reward opportunities Consequently, the study posits that there is an inverse relationship between pessimism and risk attitudes.
Hypothesis 7 (H 7 ): Pessimism relates negatively to Risk Attitude
On these grounds, this study assumes that personality traits are both positively and negatively associated with risky attitudes The hypotheses are formulated and shown in Figure 2.1 h
Proposal Model
Hypothesis 1 (H 1 ): Openness to experience relates positively to risk attitude
Hypothesis 2 (H 2 ): Conscientiousness relates negatively to risk attitude
Hypothesis 2 (H 2 ): Conscientiousness relates negatively to risk attitude
Hypothesis 4 (H 4 ): Agreeableness relates negatively to Risk Attitude
Hypothesis 5 (H 5 ): Neuroticism relates negatively to Risk Attitude
Hypothesis 6 (H 6 ): Optimism relates positively to risk attitude
Hypothesis 7 (H 7 ): Pessimism relates negatively to Risk Attitude
METHODOLOGY
Research Process
Research design
This study seeks to explore the prevalent personality traits among young Vietnamese entrepreneurs and examine their influence on risk attitudes Utilizing deductive reasoning, the researcher builds upon existing theories rather than formulating testable hypotheses through observation and data collection.
This study employs a quantitative method to numerically represent a specific phenomenon through data collection, utilizing a popular and effective questionnaire survey approach similar to prior research in the field Given time constraints and resource limitations, the author has determined that a deductive approach, quantitative strategy, and questionnaire are the most appropriate methods for this research.
This study employs articles, textbooks, and media to establish research motivation and conduct a literature review Subsequently, the author carried out a pilot test involving 35 offline participants to evaluate a questionnaire, which further validated the survey findings.
Pilot Research - Translate Question to Vietnamese - Pre-test Questionnaire Adjust Questionnaire - Official Questionnaire
The research involved translating 22 questionnaire items into Vietnamese and conducting a survey to gather primary data over a month and a half, from early February to mid-March 2021, in Vietnam Utilizing a general sampling technique, the study employed both online and offline questionnaires with purposeful sampling, targeting young Vietnamese entrepreneurs who own at least one business in the country.
As a partial least squares structural equation modeling (PLS-SEM) research, this research includes exploratory and confirmatory factor analysis, and according to Gorsuchi
In accordance with established guidelines, a minimum sample size of 200 observations is recommended for fair samples (1983) Hair et al (2011) suggest a minimum ratio of observations to questionnaire items of 5:1, while Kline (2015) advocates for a 10:1 ratio, indicating that each parameter in the model should have 10 participants This study includes 37 measurement items across 8 variables, necessitating at least 80 observations Ultimately, the author successfully collected data from 167 respondents, ensuring that all measurement items were addressed.
This study employs SmartPLS 3 software to analyze the causal relationships among various structures and to test hypotheses, while also facilitating the visualization and modification of variable relationships.
Data collection instruments
Structured questionnaire was designed under four major sections for data collection The first section consists of 20 items adapted from the big five inventory
The second section consists of 8 items to adapt and validate Extended Life Orientation Test (ELOT)
The third section consists of 9 items adapted from the domain risk attitudes of respondents
The fourth section focuses on collecting demographic information on respondents, including their gender, business fields, and education h
The measurement items are shown in table 3.1
Item codes Sample of measurement items
The big five personality traits I see myself as someone who …
Experience (four items) O1 Is original, comes up with new ideas
O2 Is curious, about many different things
Conscientiousnes s (four items) C1 Does a thorough job
C3 Perseveres until the task is finished
(four items) A1 Is outgoing, sociable
Is considerate and kind to almost everyone h
Neuroticism (four items) N1 Is depressed, blue
In uncertain time, I usually expect the best
Extended Life Orientation Test (ELOT)
OP2 When there’s a will, there’s a way
When I undertake something new I expect to success
In general, things turn out alright in the end
(Four items) PE1 If something can go wrong for me, it will
Thinks never work out the way I want them to
I make decision on my own I can pretty much on the fact that it will turn out to be a poor me
Give me 50/50 odds and I will choose the wrong answer every time
(Eight items) R1 Illegally copying a piece of software (E)
DOSPERT Scale (from Blais & Weber, 2006)
Spending on money impulsively without thinking about the consequences (F)
Ignoring some persistent physical pain by not going to the doctor(H/S)
R4 Betting a day's income at the lottery (F) R5 Disagreeing with an authority figure on a h
Driving a car without wearing a seat belt
Choosing a career that you truly enjoy over a more secure one (S)
Investing 10% of your annual income in a new business venture (F)
Moving to a city far away from your extended family (S)
Data analysis
Henseler and Chin (2010) outline a two-step evaluation process for research models, which includes assessing both the measurement model and the structural model The first step involves evaluating the measurement model by examining the reliability, convergence value, and discriminant value of the measurement concepts within the model.
To examine the relationships between variables, a PLS-SEM analysis is conducted, demonstrating statistical significance at the 5% level The outer weights serve as a criterion to indicate the relative contribution of each indicator In the structural model, it is common for outer weights to be lower than factor loadings (Hair et al., 2011).
To determine the contribution of constituent indicators to latent variable formation, a bootstrapping procedure is essential In this study, the authors utilized SmartPLS 3.0 software for PLS-SEM analysis, employing standard indicators that align with the research characteristics This method does not rely on the assumption of standard distribution and is adaptable for small sample sizes (Henseler et al., 2016).
FINDINGS
Demographic results
This section presents the analysis and related findings of all the data collected from the survey Descriptive data analysis is an appropriate method for descriptive questionnaire survey analysis
The research questionnaire was disseminated through a Google Form link, targeting participants from various geographic regions of Vietnam, including the North, Central, and South Ultimately, the study garnered 185 responses, with 167 of those deemed qualified for analysis.
The respondents primarily consist of small and medium-sized enterprises (SMEs) from various sectors, including trading (31.7%), services (34.1%), manufacturing (13.2%), and others (21%) All participants are business owners, highlighting their direct involvement in the operations of their respective companies.
27 directly make the decisions for the growth and survival of the business 167 participants started their businesses in different age groups, ranging from age under 25 (30,5%, nQ);
The survey results reveal that participants predominantly fall within the age range of 25 to 29 years (37.1%, n = 37), followed by those aged 30 to 35 (16.8%, n = 16) and over 35 (15.6%, n = 15) Gender distribution shows a slight male majority at 52.7% (n = 88) compared to 47.3% (n = 79) females Marital status indicates that a significant portion of participants are married (74.9%, n = 125), while singles represent 22.8% (n = 28), and divorced individuals account for a mere 2.4% (n = 4) Regarding business experience, 36.5% (n = 61) of respondents have been in business for 1 to 4 years, 32.3% (n = 54) for over 6 years, 18.6% (n = 31) for 4 to less than 6 years, and 12.6% (n = 21) for less than 1 year.
From 1 to less than 3 years 61 36.5
From 4 to less than 6 years 31 18.6
Descriptive analysis
Table 4.2 presents the mean and standard deviation of measurement items, revealing the general personality traits of young Vietnamese entrepreneurs In a market economy that is increasingly integrated into the global landscape, these entrepreneurs face significant risks Their success in navigating this challenging business environment hinges on their willingness to embrace risk Survey results indicate that while Vietnamese entrepreneurs are somewhat open to risk, they generally prefer stability and are hesitant to make high-risk decisions, suggesting a cautious approach to entrepreneurial ventures.
Recent survey results indicate that a majority of Vietnamese entrepreneurs are relatively young and have been shaped by the country's rapid development This new generation exhibits distinct personality traits compared to their predecessors, being more extroverted, open-minded, and eager to engage in social exchanges and continuous learning Despite facing a challenging business environment that can lead to stress from various factors such as policies, investment partners, employees, and family pressures, these young entrepreneurs tend to maintain a stronger optimistic outlook than a pessimistic one Their decision-making plays a crucial role in influencing the survival and growth of their businesses.
29 business, they always have a positive future vision for their business (average score for optimism is 3.42 while for pessimism is 3.21) as shown in table 4.2
Variable Items Mean Std Deviation
Skewness and kurtosis are crucial metrics for assessing symmetrical distribution in data In a normal distribution, skewness equals 0, indicating perfect symmetry, while kurtosis also equals 0, signifying a balance between peakedness and flatness Consequently, when sampling from such a distribution, the resulting variables should exhibit skewness and kurtosis values near zero As demonstrated in Table 4.3, the scales analyzed yield skewness and kurtosis indices close to 0, confirming that the statistics are symmetrically distributed and free from outliers.
Table 4 3: Skewness and Kurtosis test
Common method bias test
Harman's single factor test was employed to ensure that the collected data was free from common method deviations, as outlined by Hair et al (2011) The measurement is deemed acceptable when the overall latency factor exhibits less than 50% variance As indicated in Table 4.4, the findings reveal that a single extracted factor accounts for only 21.49% of the variance in the data sample, confirming that general method deviation does not pose a concern within the dataset.
Initial Eigenvalues Extraction Sums of Squared
Loadings Component Total % of Variance Total % of Variance
Measurement model
According to the guidelines of (Hair et al 2011), we should first assess the reliability and validity of the measures: h
A reliability test was conducted to evaluate the internal consistency of the proposed model's measurement scales, utilizing Cronbach's Alpha coefficients The findings, presented in Table 4.5, indicate that all scale components have a Cronbach's Alpha greater than 0.6, with the exception of measurement item N3, which exhibited a correlation below 0.3 As a result, measurement item N3 was excluded from the model, allowing the remaining 36 items to proceed to exploratory factor analysis (EFA).
After testing the influencing factors, the analysis using Cronbach's Alpha on 36 measurement items yielded satisfactory results The exploratory factor analysis (EFA) employed Principal Axis Factoring with Promax rotation, confirming the scale's acceptance with a KMO value of 0.5 ≤ KMO ≤ 1 The Bartlett test's significance coefficient of 0.000 indicates the statistical significance of the observed variables Additionally, the total variance extracted was 68.15%, exceeding the 50% threshold established by Gerbing & Anderson (1988), with a factor loading of ≥ 0.7, demonstrating appropriate reliability for factor analysis Ultimately, 26 observed variables were extracted, with an Eigenvalue of 1.282, indicating that these seven factors account for 68.15% of the data's variability.
Risk attitude is a unidirectional concept, necessitating the use of Principal Component Analysis with varimax rotation for exploratory factor analysis The results indicated that out of nine measurement items, four were eliminated after four rotations due to their factor loadings falling below the acceptable threshold of 0.7 Specifically, items R2 (0.670), R5 (0.561), R7 (0.550), and R8 (0.599) were removed from the model, as suggested by Hair et al.
2011) Therefore, the remaining 5 measurement items were retained to analyze the PLS- SEM h
The study evaluates the combined reliability of the scale using composite reliability (CR), average variance extracted (AVE), and outer loading factors A combined confidence coefficient above 0.7 and an outer loading coefficient exceeding 0.708, as established by Hair et al (2011), indicate significant confidence values Furthermore, Fornell and Larcker (1981) assert that a total extracted variance greater than 0.5 confirms the scale's reliability and convergence, with the risk attitude factor showing a minimum of 0.742 The results presented in Tables 4.6, 4.7, and 4.8 demonstrate that all conceptual scales meet the reliability and convergence criteria Additionally, a comparison of the relationships between factors and their AVE indicates that the square root of each factor's AVE is greater than the correlation coefficients with other factors, confirming that each indicator's factor load is the highest in the cross-correlation matrix, with statistical significance (p value = 0.000).
The Heterotrait-Monotrait correlation ratio (HTMT) is an innovative approach for assessing discriminant validity in partial least squares structural equation modeling Establishing discriminant validity is crucial, as it ensures that the confirmed structural paths are genuine rather than merely statistical artifacts Kline (2015) advises that the HTMT value between independent and dependent variables should not exceed 0.85 As indicated in Table 4.9, both the impact of the independent variables and their relationship with the dependent variable are below this threshold, thereby confirming the acceptance of discriminant validity within the structural equation model.
Table 4 6: Composite reliability and average variance extracted
Constructs Item Loadings CR AVE
Table 4 9: Heterotrait-Monotrait Ratio of Correlations (HTMT)
Structural model assessment
The PLS-SEM analysis method evaluates the influence of seven key factors—Openness, Conscientiousness, Extraversion, Agreeableness, Neuroticism, Optimism, and Pessimism—on the risk attitudes of young entrepreneurs in Vietnam.
Before assessing the structural model, it is essential to address collinearity issues (Hair et al., 2011; Wong, 2013) Collinearity can be evaluated through the inflation tolerance coefficient and variance inflation factor (VIF) As indicated in Table 4.10, the overall tolerance values surpass the threshold of 0.2, and the internal VIF value remains below 5.0, demonstrating an acceptable range with no collinearity concerns in the datasets The findings confirm that the model, with a maximum value of 1.506, does not exhibit collinearity violations.
The results of the PLS-SEM model, illustrated in Figure 2, indicate a Chi-squared statistic of 766.603 with a p-value of 0.00, which is less than the significance threshold of 0.005 Furthermore, following Hulland's (1999) guidelines, the model is deemed acceptable since it achieves an SRMR value below 0.1.
39 consistent with the actual data Thus, with the value of SRMR = 0.066 0.05); this is rejected the hypothesis
H 2 : Conscientiousness risk attitude: (β = -0.127); (P < 0.05); this supports the hypothesis 2
H 3 : Extraversion risk attitude: (β = 0.250); (P < 0.05); this is rejected the hypothesis 3
H 4 : Agreeableness risk attitude: (β = -0.341); (P < 0.05); this supports the hypothesis 4
H 5 : Neuroticism risk attitude: (β = 0.134); (P > 0.05); this is rejected the hypothesis
H 6 : Optimism risk attitude: (β = -0.052); (P > 0.05); this is rejected the hypothesis
H 7 : Pessimism risk attitude: (β = -0.243); (P < 0.05); this supports the hypothesis
This study demonstrates that conscientiousness, agreeableness, and pessimism negatively influence the risk attitudes of young Vietnamese entrepreneurs, with a significance level of 0.05 In contrast, extraversion positively impacts risk attitudes, while openness, neuroticism, and optimism show no significant effects The final chapter will elaborate on these findings, providing conclusions and recommendations for future research.
DISCUSSION AND CONCLUSION
Discussion
This study examines the personality traits of young Vietnamese entrepreneurs and their influence on risk attitudes Numerous international articles have explored the personality characteristics of entrepreneurs, highlighting the importance of understanding these traits in the context of entrepreneurship.
There is a lack of research on how optimism and pessimism influence the risk attitudes of entrepreneurs, particularly in Vietnam Additionally, no official studies have examined the personality traits of entrepreneurs in relation to their risk-taking behaviors This study aims to address these gaps by exploring the personality characteristics of 167 young entrepreneurs in Vietnam.
Research from Table 4.2 indicates that young Vietnamese entrepreneurs with at least one enterprise exhibit harmonious personality traits, demonstrating flexibility in both coping with various situations and adapting their lifestyles These individuals are characterized by open-mindedness, extroversion, and a trusting nature, though they are also prone to external influences and can be susceptible to stress.
Vietnamese cultural identity is characterized by several key traits, including adaptability, community solidarity, and a preference for simplicity over extravagance The Vietnamese people are known for their open-heartedness, hard work, and respect for the elderly, while also displaying a lack of long-term planning and a tendency towards arbitrary behavior Additionally, they embody an egalitarian mindset and values of kindness and forgiveness In contrast, young Vietnamese entrepreneurs share many of these cultural traits but also exhibit notable differences, such as positive imagination, high discipline, and enthusiasm They tend to be sociable yet cautious in trusting others, often challenging authority with confidence in their abilities, and they maintain a strong sense of optimism.
The study identifies seven relationships and integrates personality traits such as the Big Five, optimism, and pessimism It confirms that extraversion positively influences risk attitudes, while conscientiousness, agreeableness, and pessimism negatively affect them Additionally, the traits of openness, neuroticism, and optimism do not impact the risk attitudes of young Vietnamese entrepreneurs The analytical results validate hypotheses 2, 3, 4, and 7.
Hypothesis H1 posits that the openness factor positively influences the risk attitude of young Vietnamese entrepreneurs However, after conducting reliability tests using Cronbach's Alpha coefficients and performing exploratory factor analysis (EFA), inappropriate variables were eliminated The results from structural equation modeling (SEM) indicate that the openness factor does not have a significant relationship with risk attitude, contradicting the findings of earlier researchers such as Widiger and Costa.
In Vietnam, the unique geographical, cultural, and legal landscape fosters open-minded personality traits among its entrepreneurs (McGhee et al., 2012) However, assessing an entrepreneur's risk attitude solely based on these open-minded traits is insufficient Understanding this dynamic can provide valuable insights for investors and corporate finance advisors.
The hypothesis H2 indicates that Conscientiousness negatively influences the risk attitude of young Vietnamese entrepreneurs The SEM analysis reveals an inverse relationship with a path coefficient weight of β -0.127 and a p-value of 0.026, confirming statistical significance at a 95% confidence level Consequently, the hypothesis is accepted, suggesting that individuals with higher levels of Conscientiousness tend to be more risk-averse This finding implies that serious individuals, characterized by strong vision, self-awareness, and careful consideration, often take longer to make decisions due to their fear of risks This outcome aligns with previous research on the relationship between Conscientiousness and risk attitude.
Hypothesis H3 posits that extraversion positively influences the risk attitudes of young Vietnamese entrepreneurs The SEM model testing confirms this hypothesis, aligning with previous research that highlights the positive correlation between extraversion and risk-taking behavior In Vietnam, entrepreneurs who exhibit traits such as sociability, talkativeness, and an optimistic demeanor are generally less apprehensive about risks Consequently, these individuals are more inclined to embrace innovation and pursue breakthroughs, ultimately leading to greater success.
Hypothesis H4 posits that Agreeableness is inversely related to the risk attitudes of young Vietnamese entrepreneurs The results from the structural equation modeling (SEM) support this hypothesis, with an impact coefficient of β = -0.341 and p = 0.000, indicating statistical significance This suggests that among the personality traits examined, Agreeableness has the most substantial negative influence on risk attitudes Specifically, entrepreneurs exhibiting traits such as trust, frankness, altruism, obedience, modesty, and tenderness tend to approach risks with caution These findings align with previous research on the correlation between agreeableness and risk attitudes.
Hypothesis H5 posits that neuroticism negatively influences the risk attitudes of young Vietnamese entrepreneurs However, SEM test results indicate a positive linear relationship between workload and risk attitude, with a path coefficient of 0.171, making it difficult to draw definitive conclusions about this relationship This finding contradicts previous studies by Lee & Foo (2020) and Widiger & Costa (2012), which assert that neuroticism adversely impacts risk attitudes Consequently, it may not be necessary to evaluate the risk-taking tendencies of Vietnamese entrepreneurs based on personality traits associated with pessimism, such as anger, hostility, depression, anxiety, or instability.
Hypothesis H6 posits that optimism has a positive influence on the risk attitude of young Vietnamese entrepreneurs However, the SEM model test reveals an inverse correlation, indicated by a part coefficient of β = -0.052, with a p-value of 0.520, leading to the rejection of this hypothesis Additionally, hypothesis H5 presents a contradiction to this finding.
Research by Houghton & Johnson (2009), Puri & Robinson (2007), and Bengtsson & Ekeblom (2014) indicates that optimism positively influences risk attitudes However, when evaluating the risk attitudes of young Vietnamese entrepreneurs, it cannot be conclusively stated that individuals with high self-esteem and an optimistic outlook are more likely to embrace high risks.
Hypothesis H7 indicates that pessimism negatively impacts the risk attitudes of young Vietnamese entrepreneurs The PLS SEM model analysis reveals a significant negative linear correlation between pessimism and risk attitude, with an effect weight of β = -0.243 and a p-value of 0.001, confirming statistical significance at a 99% confidence level This hypothesis highlights that optimism and pessimism are distinct personality traits; while optimism does not influence risk attitudes, pessimism is inversely related Consequently, individuals exhibiting high levels of anxiety, shyness, or reluctance to share tend to demonstrate greater risk aversion.
This study enhances the theoretical framework by introducing Optimism and Pessimism as new elements to evaluate their influence on the risk attitudes of young Vietnamese entrepreneurs Notably, the findings reveal that Pessimism significantly aligns with the risk attitudes of entrepreneurs, thereby supporting hypothesis 7.
Practical implications
This study offers valuable insights for young entrepreneurs, policymakers, and investors in Vietnam by being the first to explore the personality traits and risk attitudes of Vietnamese entrepreneurs It highlights common personality traits and their influence on risk perceptions among business leaders in the country These findings serve as a crucial reference for policymakers in crafting supportive policies for entrepreneurs and investors, as well as guiding start-ups on the appropriate level of risk to undertake The results indicate that Vietnamese businesspeople exhibit a high risk attitude, demonstrating a willingness to make high-risk decisions to achieve their objectives.
Understanding the personality traits of entrepreneurs is crucial for investors and financial policy advisors, as these traits significantly influence individual risk attitudes In the rapidly evolving Vietnamese market, where the number of new businesses continues to rise, outdated policies may no longer be effective Therefore, it is essential to develop new policies that promote sustainable entrepreneurial growth By gaining insights into entrepreneurs' personality traits and their risk attitudes, policymakers can create more acceptable and effective strategies Additionally, streamlining administrative procedures and addressing growth challenges are key measures to consider for fostering a supportive environment for entrepreneurs.
This article highlights young entrepreneurs in Vietnam, specifically focusing on small and medium-sized enterprise (SME) owners, a crucial segment of the economy As detailed in Table 4.1, these entrepreneurs exhibit diverse personality traits that are generally above average, indicating their strong adaptability to changing environmental conditions.
To enhance competitiveness against foreign enterprises, Vietnamese businesses must prioritize the development of effective promotion policies These policies should consider the unique personality traits of entrepreneurs and their risk tolerance levels By tailoring promotion strategies to these characteristics, businesses can create more engaging and impactful initiatives that drive growth and success.
48 accepted This is also the starting point for a policy to become practical, practical, and successful in its application
This study highlights the distinct personality traits of Vietnamese business people compared to entrepreneurs in other countries, revealing a unique influence of personality on risk attitudes that differs from global findings It emphasizes the importance of selecting a representative sample in psychological research and suggests that optimism and pessimism should be examined separately The results indicate that while pessimism significantly impacts an entrepreneur's risk attitude, optimism, despite being relatively high among entrepreneurs, does not influence their risk-taking behavior.
Limitations and future research recommendation
While this study presents an appealing research design and findings, it faces limitations that suggest avenues for future research The constraints of time and resources, along with the challenge of engaging busy business owners, led the author to employ both online and offline questionnaire methods However, the sample primarily consisted of small and medium-sized business owners, which may not accurately represent the broader demographic of young Vietnamese entrepreneurs Consequently, future research should aim to differentiate the personality traits of small and medium-sized business owners from those of larger business owners or other comparable management groups.
This study does not compare the personality traits of Vietnamese business entrepreneurs with those of other groups, which limits the clarity of the findings Additionally, the questionnaire used in this research has certain limitations, potentially leading to methodological variance To mitigate this risk, we utilized scale items from reputable sources and maintained consistency by using a single source for the structure, as detailed in Chapter Three.
The study's results are valid within the context of the designed surveys, which maintained consistent scaled adjectives and adverbs across 49 entries.
This article suggests that additional personality traits, such as confidence and conservatism, may align with the model of entrepreneurial personality traits and influence risk attitudes It recommends future studies to explore these complementary factors Furthermore, the current research focuses solely on the direct relationships between variables, indicating a need for future investigations to examine the indirect effects of these traits.
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SURVEY QUESTIONAIRES IN VIETNAMESE Đặc điểm tính cách của doanh nhân trẻ Việt Nam
Tên em là Lê Thị Phượng, học viên của chương trình Thạc sĩ Quản trị Kinh doanh của trường Đại học Việt Nhật - Đại học Quốc gia Hà Nội
Dữ liệu thu thập sẽ được bảo mật và chỉ được sử dụng cho mục đích nghiên cứu của học viên Cảm ơn Anh/Chị đã dành thời gian hỗ trợ em trong việc hoàn thành khảo sát này.
Anh/ chị có đang là chủ sở hữu doanh nghiệp không? o Có (Tiếp tục chuyển sang phần 3) o Không (Cảm ơn, nộp bảng hỏi)
Phần 3 Đặc điểm tính cách
Qúy Anh/ Chị vui lòng chọn phương án đúng nhất với 5 mức đánh giá:
(5) Rất đồng ý, (4) Đồng ý, (3) Bình thường, (2) Không đồng ý, (1) Rất không đồng ý
Nếu Anh/ Chị dùng điện thoại, Xin vui lòng di chuyển màn hình điện thoại sang bên phải để thấy 5 mức độ đánh giá đầy đủ nhất
2.1: (Qúy Anh/ Chị vui lòng đánh giá những tình huống sau dựa trên đặc điểm tính tính cách của chính bản thân mình)
O1 Là người độc đáo, hay nghĩ ra ý tưởng mới
O2 Tôi là người hay tò mò về nhiều thứ khác nhau
O3 Tôi là người có nhiều sáng kiến
O4 Tôi có trí tưởng tượng tích cực
C1 Tôi luôn làm việc kỹ lưỡng
C2 Tôi là người đáng tin cậy trong mọi công việc h
C3 Tôi luôn kiên trì đến cùng để hoàn thành công việc
C4 Tôi làm mọi việc đều hiệu quả
E1 Tôi là một người hay nói chuyện
E2 Tôi luôn tràn đầy năng lượng
E3 Tôi có nhiệt huyết trong mọi công việc
E4 Tôi là người hướng ngoại, hòa đồng
A1 Tôi là người có ích và không ích kỷ với người khác
A2 Tôi có bản chất vị tha, dễ tha thứ cho người khác
A3 Tôi dễ tin tưởng mọi người
A4 Tôi chu đáo và tử tế với hầu hết mọi người
N1 Tôi là một người dễ chán nản
N2 Tôi dễ bị căng thẳng bởi tác động bên ngoài
N3 Tôi thường xuyên lo lắng
N4 Tôi thường ủ rũ một mình
2.2 Anh/ chị vui lòng đánh giá dựa trên quan điểm của anh chị về các tình huống anh chị cảm thấy đúng với bản thân mình
OP1 Trước những thứ không chắc chắn, tôi luôn nghĩ tới điều tốt đẹp
OP2 Ở đâu có hy vọng, ở đó có con đường phát triển
OP3 Khi tôi thực hiện một cái gì mới tôi luôn mong đợi thành công
OP4 Nói chung kết thúc thì mọi thứ đều tốt đẹp
PE1 Nếu điều gì xấu có thể sảy ra với tôi, nó sẽ xảy ra
PE2 Suy nghĩ không bao giờ diễn ra theo cách tôi muốn
PE3 Khi tôi phải tự đưa ra quyết định của mình, tôi h
55 chắc đó là quyết định tồi
PE4 Cho tôi tỉ lệ cược là 50/50, câu trả lời của tôi lần nào cũng sai
Phần 4 Thái độ với rủi ro
Anh / Chị có sẵn sàng thực hiện các việc bên dưới
R1 Sao chép bất hợp pháp một phần mềm
R2 Tiêu tiền một cách bốc đồng mà không nghĩ đến hậu quả
R3 Bỏ qua một số cơn đau thể xác dai dẳng bằng cách không đi khám
R4 Đặt cược thu nhập một ngày vào sổ số
R5 Không đồng ý với một nhân vật có thẩm quyền về một vấn đề lớn
R6 Điều khiển xe ô tô không thắt dây an toàn
R7 Chọn một nghề mà bạn thực sự yêu thích hơn là một nghề an toàn hơn
R8 Đầu tư 10% thu nhập hàng năm của bạn vào một liên doanh kinh doanh mới
R9 Chuyển đến một thành phố xa với đại gia đình của bạn
(XIN TRÂN TRỌNG CẢM ƠN ANH/ CHỊ) h
SURVEY QUESTIONAIRES IN ENGLISH The Personality traits of Vietnamese young entrepreneurs
My name is Le Thi Phuong, a student of the Master of Business Administration program of Vietnam Japan University - Hanoi National University
Information and data collected will be kept confidential and will only serve the student's research
Thank you very much for taking the time to support me in completing this survey
Are you currently the business owner? o Yes (Continue to part 3) o No (Thanks, submit questionnaire)
Please choose the best option with 5 rating levels:
(5) Strongly Agree, (4) Agree, (3) Neutral, (2) Disagree, (1) Strongly Disagree
If you use a phone, Please move the phone screen to the right to see the full 5 rating levels
3.1: (Please rate the following situations based on your own personality traits)
1 Is original, comes up with new ideas
2 Is curious, about many different things
7 Perseveres until the task is finished
16 Is considerate and kind to almost everyone
3.2 Please base your judgment on your views about the situations you feel are right for yourself
21 In uncertain time, I usually expect the best
22 When there’s a will, there’s a way
23 When I undertake something new I expect to success
24 In general, things turn out all right in the end
25 If something can go wrong for me, it will
26 Thinks never work out the way I want them to
27 I make decision on my own I can pretty much on the fact that it will turn out to be a poor me
28 Give me 50/50 odds and I will choose the wrong h