Factors affecting entrepreneurial intent, a study of business students in vietnam

UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business Nguyen Thuy Phuong Thao FACTORS AFFECTING ENTREPRENEURIAL INTENT: A STUDY OF BUSINESS STUDENTS IN VIETNAM ID: 22120031 MASTER OF BUSINESS (Honors) SUPERVISOR: Prof Nguyen Dong Phong Ho Chi Minh City – Year 2014 ACKOWLEDGEMENT This thesis could not be accomplished without the assistance, support, advice, guidance and encouragement from many accompanists I wish to express my sincere gratitude to my co-advisers Prof Nguyen Dong Phong and Dr Nguyen Phong Nguyen for their commitment and enthusiasm in supervising process, even with my minor and unwise questions I wish to give a big thank you for my dear colleagues, friends and classmates for their invaluable support and encouragement when I encountered a lot of difficulties and stresses during the process of thesis writing Last but not least, I would like to thank all students, lecturers and staff from International School of Business-UEH, ERC International, University of Economics HCMC, and Foreign Trade University for their time with facilitating and answering my questionnaires ABSTRACT The research examines the ability of attitude, social norms, perceived behavioural control and proactive personality in predicting entrepreneurial intent, in which the model is operationalized as a combination between variables from Ajzen (1991) and Batteman and Crant (1993)’s theory Using a data set form a sample of 396 business students, the research adopts multiple regression analysis to test the proposed model and its hypotheses The result shows that both theories can be applied in Vietnamese context, in which attitude and social norms toward entrepreneurship and proactive personality affect the entrepreneurial intent of business students in Vietnam; whereas perceived behavioural intention toward entrepreneurship does not These findings suggest that if business students in Vietnam are lack of confidence in their ability to starting new businesses, and they should be trained/ educated in a way of developing soft-skills rather than focusing only in textbook Keywords – Entrepreneurial intention, Theory of Planned Behaviour (TPB), Proactive Personality ACKOWLEDGEMENT ABSTRACT TABLE OF CONTENTS LIST OF FIGURE TABLE OF CONTENTS CHAPTER INTRODUCTION 1.1 Background 1.1.1 History of entrepreneurship in Vietnam 1.1.2 Entrepreneurial activities in Vietnam 10 1.2 Research gap 11 1.3 Research objectives 12 1.4 Research scope 12 1.5 Contributions and implications 12 1.6 Structure of the research 13 CHAPTER 14 LITERATURE REVIEW AND HYPOTHESIS DEVELOPMENT 14 2.1 Theoretical background 14 2.1.1 The application of Ajzen’s (1991) Theory Planned Behaviour (TPB) model in predicting entrepreneurial intent 14 2.1.2 Proactive Personality (Batteman and Crant, 1993) in predicting entrepreneurial intent 18 2.2 Review on “Entrepreneurial intent” 19 2.3 Hypotheses development 22 CHAPTER 28 RESEARCH METHODOLOGY 28 3.1 Research design 28 3.2 Measurement scales 28 3.3 Sampling design 31 3.3.1 Population 31 3.3.2 Sample size 31 3.4 Sampling techniques 32 3.5 Data collection methods 32 3.6 Data analysis method 33 3.6.1 Statistical method 33 3.6.2 Descriptive statistics 33 3.6.3 Reliability analysis .33 3.6.4 Exploratory factor analysis (EFA) 33 3.6.5 Multiple regression analysis 34 CHAPTER 35 DATA ANALYSIS 35 4.1 Descriptive analysis 35 4.2 Assessment and refinement of measurement scale 36 4.2.1 Cronbach’s Alpha 37 4.2.2 Exploratory Factor Analysis (EFA) .39 4.3 Multiple Linear Regression 45 4.3.1 Test of assumptions .47 4.3.2 Regression analysis 47 CHAPTER 50 CONCLUSION 50 5.1 Summary of research finding 50 5.1.1 The application of Ajzen’s planned behavior model on entrepreneurial intent in Vietnam’s context 50 5.1.2 The application of proactive personality construct (Crant, 1993) in Vietnam market .52 5.1.3 Summary of findings .52 5.2 Managerial implications 53 5.2.1 General managerial implications 53 5.2.2 Implications for Educators .53 5.2.3 Implications for Practitioners 54 5.2.4 Implications for Public policy makers 55 5.2.5 Summary of Implications 55 5.3 Limitation and further research direction 56 APENDICES Appendix A: Questionnaire (English and Vietnamese version) Appendix B: Multiple Liner Regression LIST OF FIGURES Figure 2.1: Shapero’s (1982) model of the “Entrepreneur Event” (SEE) .14 Figure 2.2: Ajzen’s theory of planned behavior (1991) 15 Figure 2.3: The proposed model 28 Figure 3.1: Measurement scales 32 Figure 4.1: Cronbach’s Alpha of remaining variables 39 Figure 4.2: KMO and Bartlett’s Test of Dependent Factor (EI) and Total Variance Explained of Dependent Factor 40 Figure 4.3: EFA result 45 Figure 4.4: KMO and Bartlett’s Test of Dependent Factor (EI) and Total Variance Explained of Independent Factor 44 Figure 4.5: Multiple linear regression 48 CHAPTER INTRODUCTION 1.1 Background 1.1.1 History of entrepreneurship in Vietnam During Vietnam’s Subsidy Period, everything was controlled by the government, so foods, goods, and services were purchased with coupons or food stamps The country’s economy was close to nepotism and controlling power manipulated by those with a position in government, i.e they received more coupons and had access to special shops In contrast, for those without special status, they spent almost a day waiting in line to buy rice and other basic commodities Ho (n.d) states that in 1986, Vietnam’s government approved a strategy of gradual integration into the world economy by launching a political and economic renewal campaign “Doi Moi” - a balanced approach to develop both industry and agriculture with a mix of state, collective, and private ownership, which facilitated the transition from a centrally planned economy to form of a market socialism officially termed "Socialist-oriented market economy - Kinh te thi truong" Since then, the establishment and development of private business in the production of consumer goods and foreign investment has played a crucial role in the country’s economy growth According to Library of Congress Federal Research Division (2005), by the late 1990s, more than 30,000 private businesses had been created, and the economy was growing at an annual rate of more than 7% However, according to report of Bertelsmann Stiftung’s Transformation Index (BTI) in 2014, due to the key structural issue in the banking sector and state-owned enterprises (SOEs), the economy expanded by just 5.03% in 2012, the fifth consecutive year growth had been below the 7% average of the 1990s and early 2000s In contrast, the private sector has been proved its contribution to the wealth of country by accounting for roughly 60% of the country’s GDP (Per capita GDP at current U.S prices reached $1,523 in 2012, up from $1,224 in 2010, the year Vietnam achieved middle- income status according to World Bank criteria), covering about 29% the country budget in the form of taxes in 2010 (compared to 18% in 2006), creating 3.2 million jobs during the 2006 - 2010 period (four times more than state-owned businesses) The investment capital ratio of the private sector stood at 36.1% in 2010 and 35.2% in 2011 Thus, it is said that Vietnam has made impressive economic progress as demonstrated by the consecutively positive record of the growth of gross domestic product (GDP) during the past decade, and private enterprises have been contributing to the success and they should be received an appropriate concern for its sustainable growth Company Law and Law on Private Enterprise first adopted in 1990, which was revised into New Enterprise Law in 1999 created a desiring environment for the development of entrepreneurial activities in Vietnam The later law version not only revoked unnecessary business licenses restrictions in 145 industries, trades and services to ease private entry in the market, but also allowed private investment funds besides the unique source of public investment capital financed by the state budget For two years (2000 and 2001) after the New Enterprise Law’s implementation, the number of new enterprises grew to 35,447, more new enterprises than were generated by the former Company Law and Law on Private Enterprise in eight years As a result, there had been the birth of a new class/ career called “entrepreneur” (“Doanh nhan khoi nghiep”) The entrepreneurship development in the form of Small and Medium Enterprises (SMEs) has emerged as a strong agent for socio‐economic diversification as it encouraged de‐collectivization SMEs were defined formally in document 681/CP-KNT issued by the government in 1998 Accordingly, SMEs are those independent business and production establishments that have registered their business under the current legislation “Small Enterprises” are referred to those with registered capital less than VND1 billion and number of maximum 50 employees, while “Medium Enterprises” are referred to those that have capital ranging from VND1 to VND5 billion with the number of employees ranging from 51 to 200 (Ho, n.d., p.1-2) 10 1.1.2 Entrepreneurial activities in Vietnam Pham Nhat Vuong - Vingroup, Đang Le Nguyen Vu - Trung Nguyen, Le Phuoc Vu - Ton Hoa Sen, Bau Đuc - Hoang Anh Gia Lai to name a few, these successful faces of the first entrepreneurial generation in Vietnam has been recently followed by many popular entrepreneurs It is said that entrepreneurial activity has significantly increased and played an important role in Vietnam’s economic map; it also become a trend for the youth, especially university students Two typical key words of entrepreneurial activities in Vietnam like on searching engine like Google “Doanh nhan tai Viet Nam” shows 14,400,000 results in 34 seconds or “Khoi nghiep kinh doanh tai Viet Nam” shows 1,090,000 results in 51 seconds with hundreds of websites, associations, clubs, competitions, activities and communities for entrepreneurs in Vietnam The result illustrates an eventful and dynamic of entrepreneurial activities, ranging from university students to adults, from local Vietnamese to Viet Kieu or foreigners; and startup is becoming a tendency and facing strong expectations for their role to be key players these days and in the upcoming time There are many reasons leads to the trend of being self-employed in the country such as current high rate of unemployment, low opportunity cost of starting own businesses compared to being employed, unfavorable policy for office worker, family tradition, etc Regarding this, Ngan (2013) figured out some figures from General Statistic of Vietnam as a good explanation for the high rate of startups in Vietnam In 2013, 76,955 enterprises were established (10.1% higher than 2012); however, 60,737 enterprises went bankrupt or stopped operating (12.0% higher than 2012) The reasons of declaring bankruptcy included continuing losses (56.4%), management ability (5.1%) and lack of capital and market (38.5%) Meanwhile, Diep (2013) pointed out the number of unemployment graduates (21-29 age range) was up to 101,000, accounting for 9.89% the total unemployment number Questionnaire: FACTORS AFFECTING ENTREPRENEURIAL INTENTION IN VIETNAM Dear Sirs/Madams Pham Nhat Vuong - Vingroup, Đang Le Nguyen Vu - Trung Nguyen, Le Phuoc Vu - Ton Hoa Sen, Bau Đuc - Hoang Anh Gia Lai to name a few, these successful faces of the first entrepreneurial generation in Vietnam has been recently followed by many popular entrepreneurs It is said that entrepreneurial activity has significantly increased and played an important role in Vietnam’s economic map This research focusses on the cognitive process affecting entrepreneurial intention; its result contributes other angle to the importance of teaching and managing entrepreneurial activity in Vietnam Individuals participating in answering the questionnaire also gain insight into their suitability for entrepreneurial career By objectively filling in below questionnaire, you both benefit yourselves and add great value to the research DESCRIPTION OF ENTREPRENEURIAL INTENTION In this research, individual with “entrepreneurial intent” is defined as who wishes to start a business venture and consciously plan to so at some point in the future, they even not actually set up a new business due to unpredictable circumstances The mentioned business is the one that is not at too small scale, too low-skilled manufacturing level, or even does not supply any products or services in the market Page /4 PART 1: ENTREPRENEURIAL INTENTION Please choose one number representing your level / level of agreement for each of below questions 1: Extremely low level Extremely low Very low 7: Extremely high level Low Neutral High Very high Extremely high Entrepreneurial intention EI1 To what extent have you considered starting your own business? Level EI2 To what extent have you prepared to start your own business? EI3 How likely is it that you are going to start your own business within the next five years? 1: Totally disagree Totally disagree AT1 AT2 AT3 AT4 AT5 SN1 SN2 SN3 SN4 SN5 Disagree 7: Totally agree Slightly agree Neutral Slightly agree Agree Attitude towards entrepreneurial intention Being an entrepreneur implies more advantages than disadvantages to me 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 Social Norms towards entrepreneurial intention My closest family members think that I should pursue a career as an entrepreneur My closest friends think that I should pursue a career as an entrepreneur People that are important to me think that I should pursue a career as an entrepreneur To what extent you care about what your closest family members think as you decide on whether or not to pursue a career as self-employed? To what extent you care about what your closest friends think as you decide on whether or not to pursue a career as self-employed? Totally disagree Level of agreement 7 1 2 3 4 5 6 7 Level of agreement 7 7 Page /4 Perceived Behavioural Control towards entrepreneurial intention PB1 If I wanted to, I could easily become an entrepreneur As an entrepreneur, I would have sufficient control over my PB2 business There are very few circumstances outside my control that may PB3 prevent me from becoming an entrepreneur It is entirely up to me whether or not I become an PB4 entrepreneur Level of agreement Proactive Personality I am constantly on the lookout for new ways to improve my life I feel driven to make a difference in my community, and maybe the world I tend to let others take the initiative to start new projects Wherever I have been, I have been a powerful force for constructive change I enjoy facing and overcoming obstacles to my ideas Nothing is more exciting than seeing my ideas turn into reality If I see something I not like, I fix it No matter what the odds, if I believe in something I will make it happen I love being a champion for my ideas, even against others' opposition I excel at identifying opportunities I am always looking for better ways to things If I believe in an idea, no obstacle will prevent me from making it happen I love to challenge the status quo When I have a problem, I tackle it head-on I am great at turning problems into opportunities I can spot a good opportunity long before others can If I see someone in trouble, I help in any way I can Level of agreement P1 P2 P3 P4 P5 P6 P7 P8 P9 P10 P11 P12 P13 P14 P15 P16 P17 7 7 7 1 2 3 4 5 6 7 7 1 2 3 4 5 6 7 1 1 2 2 3 3 4 4 5 5 6 6 7 7 PART II: GENERAL INFORMATION Please choose one option for each question that best describes you Your gender: Male Female Your age group: □ 16 - 19 □ 20 - 24 □ 25 - 29 □ 30 - 35 □ Above 35 Page /4 Your level of education: □ High school graduate or lower □ Undergraduate □ Postgraduate After finishing current program, your degree is granted by: □ Vietnamese university □ Foreign university □ Short-course training institution □ Other: _ Your occupation: □ College /University students □ White-collar worker - Management Level □ White-collar worker - Staff Level □ Entrepreneur □ Retiree □ Housewife/House husband □ Unemployment □ Other: _ Your net income: □ Below VND million/month □ VND 5m – below 10m/month □ VND10m – below 15m/month □ From VND 15m/month Besides your main occupation, you now have your own business? □ Yes □ No Do your closest family members have their own business? □ Yes □ No Do your closet friends have their own business? □ Yes □ No Page /4 Bảng khảo sát: CÁC NHÂN TỐ ẢNH HƯỞNG ĐẾN Ý ĐỊNH KHỞI NGHIỆP KINH DOANH TẠI VIỆT NAM Kính chào Anh/Chị, Sau gương mặt thành công thuộc hệ khởi nghiệp Phạm Nhật Vượng Vingroup, Đặng Lê Nguyên Vũ - Trung Nguyên, Lê Phước Vũ - Tôn Hoa Sen, Bầu Đức - Hoàng Anh Gia Lai, ngày có nhiều câu chuyện khởi nghiệp biết đến rộng rãi Việt Nam Có thể nói, khởi nghiệp kinh doanh đà phát triển mạnh mẽ ngày đóng vai trị quan trọng đồ kinh tế Việt Nam Bài nghiên cứu khoa học tập trung vào trình nhận thức tác động đến ý định khởi nghiệp, kết nghiên cứu đóng góp góc nhìn khác tầm quan trọng việc giảng dạy quản lý hoạt động Việt Nam Bằng cách trả lời khách quan bảng khảo sát bên (khoảng 5’-7’), Anh/Chị hiểu rõ phù hợp thân ý định khởi nghiệp đồng thời đóng góp giá trị khơng nhỏ vào kết nghiên cứu MÔ TẢ Ý ĐỊNH KHỞI NGHIỆP KINH DOANH Ở nghiên cứu này, cá nhân có “Ý định khởi nghiệp kinh doanh” định nghĩa người ln có ý thức lên kế hoạch cho việc thành lập doanh nghiệp tương lai, cho dù họ chí thực kế hoạch xảy việc ý muốn Doanh nghiệp đề cập khơng phải doanh nghiệp có quy mơ q nhỏ, trình độ sản xuất thấp khơng cung cấp sản phẩm hay dịch vụ thị trường Trang 1/4 PHẦN 1: Ý ĐỊNH KHỞI NGHIỆP KINH DOANH Vui lòng chọn số biểu thị mức độ / mức độ đồng ý Anh/Chị ứng với câu hỏi 1: Cực kì thấp Cực kì thấp Rất thấp Thấp Trung hịa Cao 7: Cực kì cao Rất cao Cực kì cao Ý định khởi nghiệp kinh doanh EI1 EI2 EI3 Anh/Chị cân nhắc việc khởi nghiệp kinh doanh đến mức nào? Anh/Chị chuẩn bị cho việc khởi nghiệp kinh doanh đến mức nào? Có khả Anh/Chị khởi nghiệp kinh doanh vịng 05 năm tới khơng? 1: Hồn tồn phản đối Hoàn toàn Phản đối Phản đối nhẹ Trung hòa phản đối Mức độ đồng ý 7 7: Hoàn toàn đồng ý Đồng ý nhẹ Đồng ý Hoàn toàn đồng ý Thái độ ý định khởi nghiệp AT1 AT2 AT3 AT4 AT5 SN1 SN2 SN3 SN4 SN5 Việc khởi nghiệp đem đến cho nhiều thuận lợi bất lợi Tôi thực hứng thú đối việc khởi nghiệp kinh doanh Nếu có hội nguồn lực, tơi chắn khởi nghiệp Tơi thực hài lịng trở thành doanh nhân Giữa nhiều lựa chọn nghề nghiệp, tơi thích trở thành doanh nhân Ảnh hưởng yếu tố xã hội ý định khởi nghiệp Các thành viên gần gũi gia đình khuyến khích tơi theo đuổi nghiệp kinh doanh Những người bạn thân khuyến khích tơi theo đuổi nghiệp kinh doanh Những người quan trọng sống khuyến khích theo đuổi nghiệp kinh doanh Đứng trước định có nên theo đuổi nghiệp kinh doanh hay khơng, Anh/Chị quan tâm đến ý kiến thành viên gần gũi gia đình đến mức nào? Đứng trước định có nên theo đuổi nghiệp kinh doanh hay không, Anh/Chị quan tâm đến ý kiến người bạn thân đến mức nào? Mức độ đồng ý 1 1 2 2 3 3 4 4 5 5 6 6 7 7 Mức độ đồng ý 7 7 1 Mức độ đồng ý 6 7 Nhận thức kiểm soát hành vi ý định khởi nghiệp PB1 PB2 Nếu muốn, tơi dễ dàng trở thành doanh nhân Nếu doanh nhân, tơi có đủ lực kiểm sóat họat Trang 2/4 động kinh doanh PB3 PB4 P1 P2 P3 P4 P5 P6 P7 P8 P9 P10 P11 P12 P13 P14 P15 P16 P17 Hầu không ngồi tầm kiểm sốt tơi ngăn tơi trở thành doanh nhân Tơi hồn tồn tự định việc thân thành doanh nhân hay khơng Cá tính chủ động Tơi liên tục tìm kiếm cách cải thiện sống Ý nghĩ phải làm nên khác biệt cộng đồng giới thúc Tôi thường để người khác chủ động bắt đầu kế hoạch Tơi có sức ảnh hưởng mạnh lên thay đổi mang tính xây dựng nơi tơi đến Tơi thích đương đầu vượt qua trở ngại ý tưởng Khơng thú vị việc chứng kiến ý tưởng trở thành thực Nếu tơi thấy thứ mà tơi khơng thích, tơi sửa đổi Dù ý tưởng có khác thường tơi thực hóa chúng, miễn tơi có niềm tin vào việc làm Tơi ln bảo vệ ý kiến đến cùng, phải đương đầu với nhiều ý kiến phản bác Tơi giỏi việc nhận biết nắm bắt hội Tơi ln tìm kiếm cách làm việc tốt Nếu tin vào ý tưởng, khơng có ngăn cản tơi thực ý tưởng Tơi khơng thích việc giữ ngun trạng, tơi thích thay đổi Tơi giải khó khăn cách đối diện với Tơi giỏi việc biến khó khăn thành hội Tơi phát hội tốt trước người khác phát Nếu biết gặp khó khăn, giúp họ cách 7 Mức độ đồng ý 7 7 7 7 1 2 3 4 5 6 7 1 2 3 4 5 6 7 7 PHẦN II: THÔNG TIN TỔNG QUÁT Với câu hỏi, vui lòng chọn phương án phù hợp với Anh/Chị Giới tính: Nam Nữ Xin vui lòng cho biết tuổi Anh/Chị: □ 16 - 19 tuổi □ 20 - 24 tuổi □ 25 - 29 tuổi □ 30 - 35 tuổi □ Trên 35 tuổi Trang 3/4 Trình độ học vấn Anh/Chị: □ Lớp 12 thấp □ Đại học/Cao Đẳng □ Sau Đại học Bằng tốt nghiệp Anh/Chị nhận sau tốt nghiệp cấp bởi: □ Trường đại học Việt Nam □ Trường đại học nước □ Trung tâm đào tạo ngắn hạn □ Khác: _ Nghề nghiệp Anh/Chị: □ Sinh viên đại học, cao đẳng □ Nhân viên văn phòng - Cấp quản lý □ Nhân viên văn phòng - Cấp nhân viên □ Doanh nhân □ Nghỉ hưu □ Nội trợ □ Thất nghiệp □ Khác: _ Xin vui lòng cho biết thu nhập hàng tháng Anh/Chị: □ Dưới triệu VNĐ/tháng □ Từ triệu – 10 triệu VNĐ/tháng □ Từ 10 triệu – đến 15 triệu VNĐ/tháng □ Từ 15 triệu VNĐ/tháng trở lên Ngồi cơng việc chính, Anh/Chị có kinh doanh khơng? □ Có □ Khơng Các thành viên gần gũi gia đình Anh/Chị có kinh doanh khơng? □ Có □ Khơng Những người bạn thân Anh/Chị có kinh doanh khơng? □ Có □ Khơng Trang 4/4 APPENDIX B RESEARCH RESULTS Table Descriptive Statistics Items Gender Age group Education Degree Occupation Income Description Frequency % Female 233 58.8 Male 163 41.2 16-19 112 28.3 20-24 205 51.8 25-29 51 12.9 30-35 22 5.6 Above 35 1.5 High school graduate or lower 47 11.9 Undergraduate 334 84.3 Postgraduate 15 3.8 Vietnamese university 206 65.7 Foreign university 102 25.8 Other 34 8.6 College /University students 271 68.5 White-collar worker -Management Level 27 6.8 White-collar worker - Staff Level 78 19.7 Entrepreneur 1.5 Retiree 0.3 Housewife/House husband 0 Unemployment 0.8 Other 10 2.4 Below VND 5/month 260 65.6 VND 5m – below 10m/month 93 23.5 VND10m – below 15m/month 18 4.5 From VND 15m/month 25 6.3 FACTORS AFFECTING ENTREPRENEURIAL INTENT IN VIETNAM 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 Table Reliability Statistic Cronbach’s Code Scale Scale Corrected Squared Cronbach's Alpha Mean if Variance Item-Total Multiple Alpha if Item if Item Correlation Correlation Item Deleted Deleted EI1 9.510 6.397 687 475 694 EI2 10.515 6.428 642 426 736 EI3 9.727 5.667 627 397 762 AT1 22.598 19.517 340 137 881 AT2 21.720 15.888 733 567 769 AT3 21.177 17.316 711 599 780 AT4 21.323 16.872 730 625 774 AT5 21.818 15.795 707 556 777 SN1 19.030 17.143 612 475 742 SN2 19.144 17.405 640 484 732 SN3 18.944 16.827 681 526 717 SN4 18.717 20.441 464 332 787 SN5 19.063 20.520 475 355 784 PB1 13.760 12.385 557 342 713 PB2 13.091 12.827 618 391 685 PB3 13.717 11.515 642 422 665 PB4 12.727 13.242 455 218 768 0.802 0.833 0.794 0.765 Deleted FACTORS AFFECTING ENTREPRENEURIAL INTENT IN VIETNAM 0.876 P1 81.199 135.304 525 404 868 P2 81.672 132.479 553 389 867 P3 83.058 149.468 -.024 170 896 P4 82.407 133.953 534 409 868 P5 81.616 133.822 591 446 866 P6 80.917 136.785 491 400 869 P7 81.356 136.437 468 306 870 P8 81.503 132.281 613 492 864 P9 82.013 131.010 557 377 867 P10 82.318 135.792 513 399 869 P11 81.480 133.931 602 462 865 P12 81.694 131.084 654 485 863 P13 81.619 132.515 576 432 866 P14 81.503 133.425 601 442 865 P15 82.280 133.747 565 482 866 P16 82.306 136.117 501 428 869 P17 81.566 135.046 493 283 869 Table Modified Reliability Statistics Cronbach’s Code Scale Scale Corrected Squared Cronbach's Alpha Mean if Variance Item-Total Multiple Alpha if Item if Item Correlation Correlation Item Deleted Deleted EI1 9.510 6.397 687 475 694 EI2 10.515 6.428 642 426 736 EI3 9.727 5.667 627 397 762 0.802 Deleted FACTORS AFFECTING ENTREPRENEURIAL INTENT IN VIETNAM 0.881 0.826 0.768 0.884 AT2 17.159 11.121 729 548 853 AT3 16.616 12.030 754 599 845 AT4 16.763 11.630 776 625 835 AT5 17.258 10.875 725 551 857 SN1 9.361 7.193 670 454 774 SN2 9.475 7.627 664 446 779 SN3 9.275 7.197 716 512 726 PB1 8.722 6.480 582 339 710 PB2 8.053 7.104 604 367 690 PB3 8.679 6.122 623 391 663 P1 60.470 93.789 514 370 879 P2 60.942 91.113 556 384 877 P4 61.677 92.528 529 352 878 P5 60.886 92.385 589 398 875 P8 60.773 91.255 604 455 874 P9 61.283 90.279 543 354 878 P10 61.588 93.711 525 388 878 P11 60.750 92.279 610 446 874 P12 60.965 90.146 651 474 872 P13 60.889 90.808 595 429 875 P14 60.773 91.791 611 420 874 P15 61.551 91.894 583 471 875 P16 61.576 93.961 514 426 879 FACTORS AFFECTING ENTREPRENEURIAL INTENT IN VIETNAM FACTORS AFFECTING ENTREPRENEURIAL INTENT IN VIETNAM ... entrepreneurial intent, in which the model is operationalized as a combination between variables from Ajzen (1991) and Batteman and Crant (1993)’s theory Using a data set form a sample of 396 business students, ... These findings suggest that if business students in Vietnam are lack of confidence in their ability to starting new businesses, and they should be trained/ educated in a way of developing soft-skills... important criteria in ensuring practical significant of Exploratory factor analysis (EFA) in multivariable data analysis, in which factor loading should be above 0.3 to meet the minimum value In