The research findings have shown that entrepreneurs who have start up experiences tend to believe themselves capable of
doing entrepreneurship tasks. Having parents self-employed have not much meaning for entrepreneurial self-efficacy of
students. This is in line with the other researches of Bowen and Hisrich (1986), Nguyen (2017), Schereret et al. (1989) and
Shapero and Sokol (1982). The study provides evidence that the perceived contextual environment support factors play a
significant role for the students' perception of entrepreneurial self-efficacy. This supports the contextual theory of
entrepreneurship. Also, it is consistent with findings from studies by Fini et al. (2009), Hopp and Stephan (2012) and affirmed
that environment support substitute with social supports predicts entrepreneurial self-efficacy apart from attitude and
individual characteristics.
The study recommends public policy makers several meanings and methods to intensify their activities and design programs
on fostering entrepreneurship. Such programs have to remove the adverse perceived environmental condition, provide
financial as well as structure and institutional supports for starting a company. Furthermore, the social persuasion of
entrepreneurship as graduates’ career choice should be improved. Our findings suggest that educators and policy makers need
to consider the role of family, cultural attitudes and social personal perceptions when seeking to promote entrepreneurial
actions of college students through policies or educational programs. Entrepreneurship image, role and success stories should
be educated to families, public and social communities, so that they have a positive and favorable attitude toward
entrepreneurship. The social encouragement and positive thinking of entrepreneurship as a career will promote student
entrepreneurship competence cognition. The study results confirmed that perceived environmental supports impact positively
to students' entrepreneurship entrepreneurial self-efficacy. The study has several limitations. The analysis was limited only to
the regression analysis in order to understand the influence of environmental supports on the entrepreneurial self-efficacy
among final year students. Also, the study only focused on two major environmental factors, which are environmental and
social supports without consideration to other environmental barrier factors such as government and university policies,
individual factors. These factors are believed that would have the potential to influence the entrepreneurial self-efficacy. Some
additional areas for future exploration emerged. Future study should replicate this study using other foreign students, or
different contexts to validate and increase the generalization of the finding obtained in this study. Another method of data
analysis also needed to accurately explain the relationship between environmental supports and entrepreneurial self-efficacy.
This calls for more researches in the interaction between different environment determinants that operate at different levels of
analysis: national level (governmental laws, institutional and local aspect) and the universities level (education, social life)
and individual level (knowledge, characteristics). Future researches should discover the relationship between entrepreneurship
potential, entrepreneurship intention and entrepreneurship decisions - the actions can occur after a long time lag in process
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* Corresponding author.
E-mail address: thuyntqtkd@neu.edu.vn (T.T. Nguyen)
© 2020 by the authors; licensee Growing Science, Canada
doi: 10.5267/j.msl.2019.11.026
Management Science Letters 10 (2020) 1321–1328
Contents lists available at GrowingScience
Management Science Letters
homepage: www.GrowingScience.com/msl
Impact of entrepreneurship environmental support factors to university students’ entrepreneur-
ship self-efficacy
Thuy Thu Nguyena*
aNational Economics University, Hanoi, Vietnam
C H R O N I C L E A B S T R A C T
Article history:
Received: October 25, 2019
Received in revised format: No-
vember 20 2019
Accepted: November 22, 2019
Available online:
November 22, 2019
Policy-makers generally consider entrepreneurship to be instrumental for economic growth and
technological progress. The entrepreneurship process is shaped by the presence of entrepreneurship
environment. Since entrepreneurship self-efficacy perceptions are also vital to new venture creation
and its performance, entrepreneurship self-efficacy literature has generated interesting insights, the
research on impact of environment on entrepreneurship self-efficacy is still less evident. This study
tests the influence of some environmental cognitive support elements on the entrepreneurship self-
efficacy. A cross-sectional research design in Vietnamese students with quantitative questionnaire
approach was conducted. The sample consists of 350 students in 6 business and economics univer-
sities in Hanoi. The result of the multiple regression analysis reveals that environments’ support-
factors including perceived financial and non-financial supports, and social supports are signifi-
cantly related to perceived entrepreneurship self-efficacy of students. The study findings highlight
some implications for government to reinforce policies encouraging entrepreneurship in university
students.
© 2020 by the authors; licensee Growing Science, Canada
Keywords:
Entrepreneurship self-efficacy
Financial supports
Perceived environment supports
Social norm
University students
1. Introduction
Entrepreneurial activities are regarded as an engine for economic development, a driving force for innovation (Carree, 2003).
It is recognized that entrepreneurship is the creation of new venture that will solve a particular human being problem, improve
the living standard and lead to the creation of a new wealth. Entrepreneurship activities have a great influence on the wealth
of economy and also upgrade quality of life to the nations’ citizen. Since then, fostering entrepreneurship has become a topic
of the highest interest in management and economics over the last decade (Linan, 2009; Nasurdin et al., 2009). Entrepreneur-
ship cannot be fully understood without considering the social, political, and economic environments in which it arises and
develops. Bird (1988) indicated that social, institutional, local and cultural environments create the context for entrepreneur-
ship development, beside the individual variables. The presence of local, financial, social encouragements and other additional
elements those are available in the environment shape entrepreneurship process (Gnyawali & Fogel, 1994). The environment
where the potential entrepreneur lives affects the new venture creation decision-making process of them. Since researchers
think that entrepreneurism is a process involving social, cultural, and economic contexts, a special topic has arisen in entre-
preneurship field of studies, it focuses on the contextual factors that affect one’s entrepreneurship cognition to start a venture.
Although considerable researches have interested in understanding impact of environmental factors on entrepreneurship in-
tention and their antecedents in intention models, there is still a gap in our knowledge of perceived entrepreneurship self-
efficacy (Newman et.al., 2019). Despite the fact that self-efficacy concept is important and robustness at predicting both
1322
general and specific behaviors, it is ignored in entrepreneurship researches (Krueger et.al., 2000; Hsu et al., 2007; Florin et
al., 2007), only a limited number of studies have focused on the perceived entrepreneurship self-efficacy among students
(Newman et al., 2019). Previous studies that focused on the analysis of demographic and personal characteristics factors
(age, gender, location, individual characteristics) and self-efficacy studies suggest that entrepreneurship mindset is not the
result of institutional or social factors separately (Newman et al., 2019). On the contrary, recent empirical evidences imply
that the interaction between social and institutional perspectives more accurately explains entrepreneurship intention and
entrepreneurship activity (Krueger et al., 2000; El-Khasawneh, 2008).
This research’s objectives are testing the model and hypothesis on the relationship between proposed perceived environmental
supports: entrepreneurial financial supports, social support, perceived non-financial supports to entrepreneurship self-effi-
cacy in Vietnamese emerging economics context, which have never been quantitative tested in previous researches. The
research includes 5 main sections: the first section includes theoretical background and a review of relevant literature on
entrepreneurship self-efficacy. We develop in second section the model and hypothesis to explore the impact of environmental
support factors on entrepreneurship self-efficacy on the basis of literature review findings. The following section is the re-
search methodology. All the study findings are in section 4. The final section presents the discussion and implications of the
findings. The research results confirm the positive impacts of environmental determinants to students' entrepreneurship self-
efficacy. The findings contribute to the literature of contextual factors and entrepreneurship and have wider implications for
governmental policy makers.
2. Theoretical background
2.1 Concept
Entrepreneurship
Entrepreneurship is “the capacity and willingness to develop, organize and manage a business venture along with any of its
risks in order to make a profit” (Begley and Tan, 2001). Boyd and Vozikis (1994) illustrate the entrepreneur as “an innovator
who seeks opportunities and makes a profit of them by combining different resources in a new production function”. Accord-
ing to Ajzen (1991), entrepreneurship is a dynamic process of creating wealth by individuals or groups of individuals. Liñán
and Chen (2009) define “entrepreneurship as the process of conceptualizing, organizing, launching and through innovation,
nurturing a business opportunity into a potentially high growth venture in a complex and unstable environment”.
Entrepreneurship self-efficacy
Bandura’s social cognitive theory describes “self-efficacy as a future-oriented belief of the level of competence that is ex-
pected from a person during a given situation or for solving a particular task”. Self-efficacy is a person's belief in his ability
to organize and implement the actions necessary to achieve certain performances, self-efficacy shows a belief in one’s abilities
to perform a specific task. Generally, self-efficacy has been seen as strong forecaster of behavior in human actions (Bandura,
1997). Entrepreneurial self-efficacy is defined as a process of increasing a person’ entrepreneurial capability, so that he has
belief and readiness to realize a career as an entrepreneur, which is based on perceived self-capability in discovering and
exploring business opportunities, capability to find the new things, capability in managing a business, capability in building
and developing business partner, mental maturity as an entrepreneur (Bandura, 1997). Entrepreneurship self-efficacy indi-
cates an individual feel whether they can easily engage in entrepreneurial venture. Bandura’s concept of entrepreneurial self-
efficacy beliefs is a different construct with the perceived behavioral control and perceived feasibility in intention models,
distinguished by many researches (Ajzen, 1991; Krueger et.al., 2000) but they are overlap since all reflects individuals’ con-
fidence in the ability to perform entrepreneurial prospective behaviors (Krueger et al., 2000). Entrepreneurial self-efficacy
beliefs are considered as individual’s belief in terms of perceived entrepreneurial competence to create ventures, the presence
of factors that are able to help in carrying out a behavior. Perceived behavioral control consists of not only being able to have
the essential skills to run a business and achieve success, but also whether an individual perceives carrying out a specific task
very easily or with difficulty and perception about controllability of the behavior (Liñán & Chen, 2009). Bandura (1997)
suggested in his research that perceived personal efficacy measures people’s sense of behavioral control. Entrepreneurship
self-efficacy and perceived feasibility have been also been referred as two overlap concepts because perceived feasibility
reflects an individual’s personal judgment of their ability to perform a series of entrepreneurial tasks, based on the evaluation
of one’s self-efficacy and controllability during entrepreneurship development process (Krueger et al., 2000; Ghulam & Liñán,
2011).
2.2 Significant of entrepreneurship self-efficacy in entrepreneurship study
Self-efficacy is a motivational construct that has been shown to influence an individual’s choice of activities, goal levels,
persistence, and performance in a range of contexts (Bandura 1986). Krueger et al. (2000) found that a person’s positive
perceived self-capability increases chance for new venture opportunities recognition. Individuals, who are sensitive to oppor-
tunities, and able to take advantage of entrepreneurial opportunities, are usually expected to perceive themselves as entrepre-
neurially capable. Opportunity recognition depends on controllability and self-efficacy perceptions of entrepreneurs (Krueger
& Dickson, 1994). Also, the entrepreneurship self-efficacy perception of an individual about his/her knowledge, skills, and
T. T. Nguyen / Management Science Letters 10 (2020) 1323
experiences competencies plays an important role in determining the readiness to create an enterprise and start entrepreneurial
activities (Ajzen, 1991). Hisrich and Bowen (1986) claim that a lack of self-confidence is a major obstacle in the development
of potential innovation start up (Boyd & Vozikis, 1994). Liñán and Chen (2009) suggest that those individuals who think that
they are confident of having high level of entrepreneurial capabilities will be more likely to create a firm. Furthermore, self-
efficacy are also vital to new venture creation and intentions and its performance (Krueger et al., 2000). Costa et al.
(2016) highlighted that entrepreneurial self-efficacy competencies provide the ability to perform entrepreneurship activities
successfully. Self-efficacy has been also associated with risk-taking under uncertainty, as well as career choice (Bandura,
1986). Several researches have highlighted that entrepreneurship self-efficacy was the “single best predictor in the entire
array of variables” for entrepreneurial intention, behaviors, new venture performance and entrepreneur’s satisfaction (Boyd
& Vozikis, 1994).
Self-efficacy is linked to initiating and persisting entrepreneurship intention and behavior, setting higher goals, and reducing
threat-rigidity (Bandura, 1986). Krueger et al. (2000) indicated that differences in self-efficacy make the differences in career
preferences between different gender and ethnic group. In addition, role models affect entrepreneurial intentions only if they
affect self-efficacy (Krueger et al., 2000). Therefore, to encourage economic development by a means of new enterprise cre-
ations we must first make a reference to perceptions entrepreneurship self-efficacy. Policy initiatives will increase business
formations if those initiatives positively influence entrepreneurship self-efficacy and then influence intentions (Zhao et al.,
2005). Encouraging entrepreneurship activities should proceed from fostering entrepreneurship self-efficacy.
3. Literature review and hypothesis development
3.1 Entrepreneurial environment support impact to entrepreneurship self-efficacy
The contextual factors of entrepreneurship – the entrepreneurial environment consist of social, structural, cultural and eco-
nomic variables such as government deregulation, changes in markets, and local context supports mechanism (Bird, 1988).
Gnyawali and Fogel (1994) classified entrepreneurial environment in 6 components: policy and programs of the government,
entrepreneurial skills, socio-economic conditions, financial and non-financial support. There is a growing acceptance that
entrepreneurial environment supports are the critical factors for the development of entrepreneurship mindset (Gnyawali &
Fogel, 1994). Bandura 1991’s highlighted in process driven theory that external environment influences thoughts. Bandura
(1986) notes that physiological/ emotional arousal built a mechanism for influencing efficacy judgments. Self-efficacy judg-
ments and the process through which these judgments are formed can be influenced through the judgments of one’s own
physiological states of surrounding environment (Bandura, 1986). Business-behaviors are learned and the human mind is a
blank slate that can be shaped by environment. Shapero and Sokol’s (1982) in their entrepreneurial event theory also claimed
that life path changes impact on individual perceptions of entrepreneurial feasibility. Human beings are rational and make
systematic use of information available to them. An individual, who perceives the founding conditions as very favorable
(trigger effect), will perceive himself as entrepreneurially capable. Inversely, a negative perception of salient factors in the
environment will make them fill incapable for entrepreneurial activities (Krueger et al., 2000). Schwarz et al. (2009) clarified
entrepreneurial environment condition into environment supports, entrepreneurial environment barrier. Fini et al. (2011) em-
phasized that individual perceived environmental supports which from characteristics of the local context (such as availability
of logistic infrastructure, financial investors, and competition) government policies (such as legal framework, support pro-
gram) influence entrepreneurship activities and intention. Governmental interference includes tax policies, funding schemes
and other support mechanisms aimed at promoting entrepreneurship. Environmental supports can be clarified in to financial
support, non-financial support (Gnyawali & Fogel, 1994). Baughn et al. (2006) ague that social support is also important
factor in the entrepreneurship environment. Based upon the existing literature, it appears promising to integrate both contex-
tual support factors and social support factor into a theoretical model of entrepreneurial self-efficacy.
3.2. Hypothesis
Financial support and entrepreneurship self-efficacy
Financial support including venture capital availability, support of capital industry from local government policies and bank
has been identified as leading factors in the support of entrepreneurship (Fini, 2011). Financial supports can come from gifts,
family aids, family loans, friend loans, or loans from financial institutions (Fini, 2009). Financial capital is needed to start a
new venture, to cope with the risks associated with the new venture and to develop and grow their new enterprise and reach
their business objectives. Potential entrepreneurs hardly finance a new business completely by themselves, they need to raise
capital from other places (Kwong & Evans, 2012). Previous studies found that that an individual’s perceive lack of access to
finance from people outside their circle of family and friends significantly increases the barrier in starting a business (Luthi &
Frank). Finance is probably the most supportive measure of the entrepreneurship development but at the same time, it is also
the biggest barrier among potential entrepreneurs when considering to start a new venture (Schwarz et al., 2009)
H1: Financial support is positively related to entrepreneurship self-efficacy.
1324
Non-financial support and entrepreneurship self-efficacy
Non-financial environmental supports have an impact on the enactment of entrepreneurship process. Researchers have pro-
posed the impact of government, local context, and university support mechanisms to the entrepreneurial thought and behav-
iors (Fini et al., 2009). Governments, with support schemes and tax policies; local contexts with physical infrastructure and
business environment factors like legal rules, competitions are important factors influencing individual’s entrepreneurship
(Gnyawali & Fogel, 1994). Shapero and Sokol (1982) indicate that environment factor is an adjusting variable, which impacts
individual’s entrepreneurial intentions by the interaction with individual’s attitudes and perception of behavior control. Ac-
cording to Lucky et al. (2015) contextual elements as background factors influence self-efficacy (feasibility) and the entre-
preneurial intention through so that contextual element will also affect the self-efficacy.
H2: Non-financial support is positively related to entrepreneurship self-efficacy.
Social norm and entrepreneurship self-efficacy
Supportive social norm involves the acceptance of the entrepreneurship career, encouragement of entrepreneurship in general,
and promoting entrepreneurship from the significant others (Baughn et al., 2006). Social norm is a function of the perceived
normative beliefs of significant others including family, friends, and co-workers, weighted by the individual’s motive to com-
ply with each normative belief (Ajzen, 2001). The influence of social persuasion and perceived physiological wellbeing on
the development of self-efficacy beliefs still has a gap in the entrepreneurial research. We propose to use social support theory
as a theoretical foundation for examining the social determinants of self-efficacy beliefs. Social support theory suggests that
the support received from interpersonal relationships has a positive effect on how a person copes with stress or life change.
Individuals rely on close relationships like family, friends, close relatives, close relations to fill needed information, assurance,
and instrumental supports. By providing positive affect, social norm directly changes overall personal perception (Begley &
Tan, 2001). Thus, social persuasion may be viewed as a form of social norm that enhances self-efficacy beliefs. Furthermore,
verbal persuasion in the form of positive encouragement on entrepreneurial career may influence entrepreneurial self-efficacy.
If social persuasion is from people that potential entrepreneur trust or form the successful role model to the individual, verbal
persuasion may exert an even more profound influence on the development of entrepreneurial self-efficacy (Baughn, 2006).
Hopp and Stephan (2012) indicated that the social factors could enter into the formation of entrepreneurial events by directly
influence the formation of individual value systems. In a social system that admire entrepreneurs, more individuals will choose
the path to become entrepreneurs. Therefore, we propose:
H3: Social norm will be positively related to entrepreneurship self-efficacy.
The research uses gender (women or men), previous entrepreneurial experiences (ever start a business or not) and parents'
occupations (business related jobs or others) as control variables.
3. Research methodology
To examine the hypotheses, data was gathered from a self-administered questionnaire conducted among university students
in Hanoi, Vietnam. The participation in this study was final year students studying business and economics at 6 public and
private universities. Questionnaires were randomly distributed to target respondents with control of sex, major and universi-
ties. The questionnaire was adapted from various sources. The questionnaire is in Vietnamese and includes 20 questions. The
research questionnaire was designed by borrowing measures from previous researches with adaptation for Vietnamese con-
text. Before using the questionnaire for survey, qualitative study has been done to test the question, adopt and make it easier
to use in Vietnamese context. Two pages questionnaire consisted of three parts: demographic and family background, entre-
preneurial self-efficacy and perceived environment supports. The scales used in the questionnaire was 5-point Likert scale
with 1 - strongly disagree, 2 - disagree, 3 - neutral, 4 - agree, 5- strongly agree for each question. Financial support measure
with 3 items borrowed from Israr and Saleem (2018) asking their perception of ability to access to finance when starting new
venture. Non-financial support measure with 6 items adopted from Lüthje and Franke (2004), this construct has been used
and tested in Schwarz (2009) research. For social norm we have used Linan and Chen’s (2009) measures with 3 items asking
about opinions about being entrepreneurs of students’ family, friend and important people. The measure of entrepreneurial
self-efficacy is from Begley and Tan (2001) research which includes 7 items asking the respondents of their confidence in
implementing 7 entrepreneurship tasks. Prior to conducting the main study, the author implemented an additional exploratory
study to improve the reliability and validity of the questionnaire, and confirm the research model. 5 in - depth interviews were
conducted with final year students in National Economics University during August 2017 to confirm that the appropriate of
research model and survey instruments. After finishing data collection, the data were checked to ensure that the sample con-
sists of the research designed subjects, eliminate questionnaires with bias answers or missing important information (8 ques-
tionnaires). Finally, the final dataset included 385 final year students. SPSS software version 22 was used for analyzing data
to examine the validity and reliability of measures, test the research hypotheses and model. Descriptive analysis, factor anal-
ysis with varimax rotation, Cronbach alpha were used to test measure, and then and hierarchical multiple regression were
performed to examine the hypothesized propositions.
T. T. Nguyen / Management Science Letters 10 (2020) 1325
4. The results
4.1. Sample description
Total 385 responses have been used for analyses. Gender: Out of 385 students in the research, 199 (51,7%) are women, 178
(46,2%) are men.
Table 1
The results of the survey
Frequency Percent Valid Percent Cumulative Percent
National Economics University 159 41.3 41.3 41.3
Commercial University 66 17.1 17.1 58.4
Foreign Trade University 41 10.6 10.6 69.1
Trade Union University 22 5.7 5.7 74.8
FPT 27 7.0 7.0 81.8
Phuongdong University 70 18.2 18.2 100.0
Total 385 100.0 100.0
(Source: author' research)
Family business background: 60.8 % of the students’ parents are not involved in business activities or business owners and
49,2 % of students’ parents are developing business related carrier. Entrepreneurship experience: 12% of respondents have
involved in entrepreneurship activities or invested in new ventures.
4.2. Measurement assessment
EFA analysis with varimax rotation was conducted for 23 items of 4 variables at the same time. 23 items loaded in 4 factors.
Social norm, financial support and entrepreneurship self-efficacy items are loading with factor loading in all cases above 0.5.
All items are loading in original factors. One item of non- financial support scale NFS6 are loading in wrong factor, the other
factors are loading in the original one with factor loading in all cases above 0.5. Then, cronbach’s Alpha analysis was
conducted. “Cronbach’s Alpha if item deleted” of NFS6 is higher than its Cronbach’s Alpha. After considering, NFS6 is
eliminated from the non-financial scale. EFA analysis is conducted again (Table 2). Cronbach’s Alpha analysis was conducted
for all scales. Cronbach’s Alpha analysis for dependent and independent variables shows that all variables' Cronbach’s Alpha
are at minimum 0.718. All the value of “Corrected item total correlation” are bigger than 0.3. All the study’s items have
“Cronbach’s Alpha if item deleted” are lower than total variable Cronbach’s Alpha.
Table 2
The results of EFA analysis
Component
1 2 3 4
SE7 .769
SE6 .762
SE5 .759
SE3 .724
SE1 .713
SE4 .653
SE2 .559
NFS1 .739
NFS2 .735
NFS3 .719
NFS4 .696
NFS5 .668
FS2 .825
FS3 .808
FS1 .804
SN2 .791
SN3 .790
SN1 .773
Source: author' research
Therefore, all variables are internally consistent scales. They are validity and reliability for using in the next analysis.
Table 3
Variables' measurements
Variables No of items Cronbach’s alpha
Social norm 3 items 0.718
Financial supports 3 items 0.787
Non-financial environment supports 5 items 0.779
Perceived entrepreneurship self-efficacy 7 items 0.849
Source: author' research
1326
4.3. Results of hypotheses testing
Before using regression to test the research hypothesis, we tested the normal distribution of the indexes for all variables. The
correlation matrix has been used to examine the bivariate correlation between all factors and the regression assumptions are
checked (Table 4).
Table 4
The results of the implementation of the Pearson correlation test
SE SN FS NFS
SE Pearson Correlation 1 .339** .288** .289**
Sig. (2-tailed) .000 .000 .000
N 385 385 385 385
SN Pearson Correlation .339** 1 .202** .141**
Sig. (2-tailed) .000 .000 .000
N 385 385 385 385
FS Pearson Correlation .288** .202** 1 .322**
Sig. (2-tailed) .000 .000 .000
N 385 385 385 385
NFS Pearson Correlation .289** .141** .322** 1
Sig. (2-tailed) .000 .000 .000
N 385 385 385 385
Correlation is significant at the 0.01 level (2-tailed).
(Source: author' research)
Then, hierarchical regression analysis has been used to test the relationship between 3 environment determinants with
perceived entrepreneurship self-efficacy. In the first regression model -the control model- the dependent variable is perceived
entrepreneurship self-efficacy with 3 control variables, the model is not significant (F = 7.762, adjusted R2 = 0.051, p > .05).
The second model with three control variables and three environmental independent variables were tested. The model is
significant with research data (F = 18.247, adjusted R2 = 0.192, p < .001). Perceived entrepreneurship self-efficacy have
significant relationship with prior entrepreneurship activities but it is not the case for the other two control variables. Gender
and parents' business occupations have not got significant relationship with perceived entrepreneurship self-efficacy. All three
independent variables have positive significant relations with perceived entrepreneurship self-efficacy. Supportive social norm,
financial and non-financial environment supports relate positively and significantly with perceived entrepreneurship self-
efficacy (P < .05).
Table 4
The results of regression analysis
Model
Unstandardized Coefficients Standardized Coefficients
t Sig. B Std. Error Beta
1 (Constant) 3.213 .102 31.651 .000
Family business background .113 .065 .086 1.725 .085
Gender -.022 .059 -.019 -.377 .707
Prior entrepreneurship activities .392 .088 .225 4.467 .000
2 (Constant) 1.490 .228 6.550 .000
Family business background .074 .061 .057 1.218 .224
Gender -.005 .058 -.005 -.095 .925
Prior entrepreneurship activities .329 .082 .189 4.026 .000
Non-financial supports .146 .046 .160 3.180 .002
Social norm .220 .041 .253 5.390 .000
Financial supports .142 .041 .170 3.442 .001
a. Dependent Variable: meanSE Source: author' research
All hypotheses H1, H2, H3 are supported with the research data. After all, test for (multi-) collinearity. The tolerance and VIF
statistics indicate high tolerance values of >0.924 and low VIF.
5. Discussion and conclusion
The research findings have shown that entrepreneurs who have start up experiences tend to believe themselves capable of
doing entrepreneurship tasks. Having parents self-employed have not much meaning for entrepreneurial self-efficacy of
students. This is in line with the other researches of Bowen and Hisrich (1986), Nguyen (2017), Schereret et al. (1989) and
Shapero and Sokol (1982). The study provides evidence that the perceived contextual environment support factors play a
significant role for the students' perception of entrepreneurial self-efficacy. This supports the contextual theory of
entrepreneurship. Also, it is consistent with findings from studies by Fini et al. (2009), Hopp and Stephan (2012) and affirmed
that environment support substitute with social supports predicts entrepreneurial self-efficacy apart from attitude and
individual characteristics.
T. T. Nguyen / Management Science Letters 10 (2020) 1327
The study recommends public policy makers several meanings and methods to intensify their activities and design programs
on fostering entrepreneurship. Such programs have to remove the adverse perceived environmental condition, provide
financial as well as structure and institutional supports for starting a company. Furthermore, the social persuasion of
entrepreneurship as graduates’ career choice should be improved. Our findings suggest that educators and policy makers need
to consider the role of family, cultural attitudes and social personal perceptions when seeking to promote entrepreneurial
actions of college students through policies or educational programs. Entrepreneurship image, role and success stories should
be educated to families, public and social communities, so that they have a positive and favorable attitude toward
entrepreneurship. The social encouragement and positive thinking of entrepreneurship as a career will promote student
entrepreneurship competence cognition. The study results confirmed that perceived environmental supports impact positively
to students' entrepreneurship entrepreneurial self-efficacy. The study has several limitations. The analysis was limited only to
the regression analysis in order to understand the influence of environmental supports on the entrepreneurial self-efficacy
among final year students. Also, the study only focused on two major environmental factors, which are environmental and
social supports without consideration to other environmental barrier factors such as government and university policies,
individual factors. These factors are believed that would have the potential to influence the entrepreneurial self-efficacy. Some
additional areas for future exploration emerged. Future study should replicate this study using other foreign students, or
different contexts to validate and increase the generalization of the finding obtained in this study. Another method of data
analysis also needed to accurately explain the relationship between environmental supports and entrepreneurial self-efficacy.
This calls for more researches in the interaction between different environment determinants that operate at different levels of
analysis: national level (governmental laws, institutional and local aspect) and the universities level (education, social life)
and individual level (knowledge, characteristics). Future researches should discover the relationship between entrepreneurship
potential, entrepreneurship intention and entrepreneurship decisions - the actions can occur after a long time lag in process.
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