Exploring entrepreneurial intentions in Latin American university students

Francoise Contreras Torres, Juan Carlos Espinosa Méndez, Karla Soria Barreto, Alexandra Portalanza Chavarría, Kety Jáuregui Machuca, Jesús Alfonso Omaña Guerrero

Abstract


The aim of this study was to determine if entrepreneurial intention, based on Ajzen’s model of planned behavior
(1991), can be predicted by risk propensity, internal locus of control and leadership skills. Six standardized
and reliable instruments were applied to 1493 undergraduate university business students in Latin American
countries, selected through non-random quota sampling in accordance with their formation level in each of the
five participating universities. Using structural equation techniques, the research model was validated and
intention estimated and analyzed in relation to a set of socio-demographic variables. According to the results,
entrepreneurial intention can be significantly predicted by the psychological variables under consideration and,
contrary to what has been reported in other research, no gender differences were found in the intention of
entrepreneurship. These findings are discussed.


Keywords


Entrepreneurial intention; leadership skills; locus of control; risk propensity; Latin American students.

Full Text:

PDF

References


Aiken, L. (2003). Test psicol´ogicos y evaluaci´on (L. Gaona,

Ed.). M´exico, D.F.: Prentice Hall.

Ajzen, I. (1991). The theory of planned behavior. Organizational

Behavior and Human Decision Processes, 50,

-211.

Arenius, P., & Minniti, M. (2005). Perceptual variables and

nascent entrepreneurship. Small Business Economics,

(3), 233-247.

Bagheri, A., & Lope, Z. (2013). Role of university entrepreneurship

programs in developing students’ entrepreneurial

leadership competencies: Perspectives from

malaysian undergraduate students. Journal of Education

for Business, 88(1), 51-61.

Bandura, A. (1997). Self-efficacy: The exercise of control.

New York, NY: Freeman.

Barba-S´anchez, V., & Atienza-Sahuquillo, C. (2012). Entrepreneurial

behavior: Impact of motivation factors

on decision to create a new venture. Investigaciones

Europeas de Direcci´on y Econom´ıa de la Empresa, 18,

-138.

BarNir, A., Watson, W., & Hutchins, H. (2011). Mediation

and moderated mediation in the relationship among role

models, self-efficacy, entrepreneurial career intention

and gender. Journal of Applied Social Psychology,

(2), 270-297.

B´echard, J. P., & Gr´egoire, D. (2005). Entrepreneurship education

research revisited: The case of higher education.

Academy of Management Learning & Education, 4(1),

-43.

Brenlla, M., & V´azquez, N. (2010). An´alisis psicom´etrico

de la adaptaci´on argentina de la escala de locus de

control de rotter. universidad cat´olica (Working Paper).

Universidad Cat´olica Argentina. Retrieved from

http://www.uca.edu.ar/uca/common/

grupo68/files/Documento de Trabajo

Locus de Control1.pdf

Browne, M.W. (1984). Asymptotically distribution-free methods

for the analysis of covariance structures. British

Journal of Mathematical and Statistical Psychology, 37,

-83.

Bygrave, W., & Hofer, C. (1991). Theorizing about entrepreneurship.

Entrepreneurship Theory and Practice,

(2), 13-22.

Byrne, B. (2009). Structural equation modeling with amos:

Basic concepts, applications, and programming, second

edition. New York, NY: Taylor & Francis.

Cano, C. J., Garc´ıa, J., & Gea, A. B. (2004). El emprendedor

innovador y la creaci´on de empresas de i+d+i.

In S. Roig, D. Ribeiro, R. Torcal, A. D. la Torre, &

E. Cerver (Eds.), (p. 143-160). Servei de Publicaci´ons

Universitat de Valencia.

Chabaud, D., & Ngijol, J. (2004, 12). La reconnaissance

des opportunit´es de march´e par l’entrepreneur: faut-il

changer de perspective? In Conf´erence aims.

Chan, K. Y., Ho, M. R., Chernyshenko, O. S., Bedford, O.,

Uy, M. A., Gomulya, D., & Phan, W. M. J. (2012). Entrepreneurship,

professionalism, leadership: A framework

and measure for understanding boundaryless careers.

Journal of Vocational Behavior, 81(73-88).

Chen, G., Gully, S., & Eden, D. (2001). Validation of a new

general self-efficacy scale. Organizational Research

Methods, 4, 62-83.

Cogliser, C., & Brigham, K. (2004). The intersection of

leadership and entrepreneurship: Mutual lessons to be

learned. The Leadership Quarterly, 15(6), 771-799.

Dawson, C., & Henley, A. (2015). Gender, risk, and venture

creation intentions. Journal of Small Business Management,

(2), 501-515.

Delmar, F., & Holmquist, C. (2004). Women entrepreneurship:

Issues and policies. Istanbul, Turkey: OECD.

D´ıaz, J., Pulido, D., & Mogoll´on, R. (2006). Hacia un

modelo de creaci´on de empresas. Bolet´ın de Estudios

Econ´omicos.

Douglas, E. J., & Fitzsimmons, J. R. (2013). Intrapreneurial

intentions versus entrepreneurial intentions: distinct

constructs with different antecedents. Small Business

Economics, 41, 115-132.

Douglas, E. J., & Shephard, D. A. (2002). Self-employment

as a career choice: Attitudes, entrepreneurial intentions

and utility maximization. Entrepreneurial Theory and

Practice, 19, 67-79.

Eckhardt, J., & Shane, S. (2003). Opportunities and entrepreneurship.

Journal of Management, 29(3), 333-

Estay, C., Durrieu, F., & Akhter, M. (2013). Entrepreneurship:

From motivation to start-up. Journal of International

Entrepreneurship, 11(3), 243-267.

E.Turkina, & Thanh, M. (2015). Socio-psychological determinants

of opportunity entrepreneurship. international

entrepreneurship. Management Journal, 11, 213-238.

Fel´ıcio, J. A., Gonc¸alves, H. M., & da Conceic¸ ˜ao Gonc¸alves,

V. (2013). Social value and organizational performance

in non-profit social organizations: Social entrepreneurship,

leadership, and socioeconomic context effects.

Journal of Business Research, 66(10), 2139-2146. doi:

1016/j.jbusres.2013.02.040

G´alvez, E. (2011). Cultura intraemprendedora e innovaci´on:

un estudio emp´ırico en las mipyme tur´ısticas colombianas.

Cuadernos de Administraci´on, 27(2), 103-114.

GEM, G. E. M. (2014). Informe ejecutivo. Centro de EmEntrepreneurial

intentions in Latin American students (Research Article) — 58/59

prendedores IESA. Caracas.

Giacomin, O., Janssen, F., Pruett, M., Shinnar, R., Llopis, F.,

& Toney, B. (2011). Entrepreneurial intentions, motivations

and barriers: Differences among american, asian

and european students. International Entrepreneurial

Management, 7, 219-238.

Gonz´alez, F. (2004). Incidencia del marco institucional en

la capacidad emprendedora de los j´ovenes empresarios

de andaluc´ıa (Unpublished doctoral dissertation).

Universidad de Sevilla, Sevilla, Espa˜na.

G¨unther, J., & Wagner, K. (2007). Getting out of the ivory

tower-new perspectives on the entrepreneurial university.

Discussion Papers on Entrepreneurship and Innovation,

(4), 400-417.

G¨urol, Y., & Atsan, N. (2006). Entrepreneurial characteristics

amongst university students: some insights for

entrepreneurship education and training in turkey. Education

and Training, 48, 25-38.

Henley, A., Cock, C. D., Latreille, P., Dawson, C., &

Humphreys, I. (2008). Entrepreneurial aspirations

and activity amongst students: A comparative study for

wales. Final Report to the Welsh Assembly Government.

Retrieved from WelshAssembly.http://

opus.bath.ac.uk/39328/

Kansikas, J., Laakkonen, A., Sarpo, V., & Kontinen, T. (2012).

Entrepreneurial leadership and familiness as resources

for strategic entrepreneurship. International Journal

of Entrepreneurial Behaviour & Research, 18(2), 141-

Kirby, D. (2004). Entrepreneurship education: can business

schools meet the challenge? Education + Training,

(8/9), 520-519.

Korunka, C., Frank, H., Lueger, M., & Mugler, J. (2003). The

entrepreneurial personality in the context of resources,

environment, and the start up process– a configurational

approach. Entrepreneurship Theory and Practice, 28,

-42.

Krueger, N. F., & Brazeal, D. V. (1994). Entrepreneurial

potential and potential entrepreneurs. entrepreneurship.

Theory and Practice, 18, 91-104.

Krueger, N. F., Reilly, M. D. J., & Carsrud, A. L. (2000). Competing

models of entrepreneurial intentions. Journal of

Business Venturing, 15, 411-432.

L´opez, W., Montilla, M., & Brice˜no, M. (2007). Rasgos determinantes

de las aptitudes emprendedores que forman

el perfil de los estudiantes de contadur´ıa p´ublica del

n´ucleo universitario rafael rangel. Actualidad Contable

FACES, 10(14), 80-93.

L¨uthje, C., & Franke, N. (2003). The “making” of an entrepreneur:

Testing a model of entrepreneurial intent

among engineering students at mit. R&D Managmente

Review, 33(2), 135-147.

Madrigal, B., Arechavala, R., & Madrigal, R. (2012). El

emprendedor y su capital social: caso el cl´uster del software

en jalisco. Revista Internacional Administraci´on

& Finanzas, 5(4), 107-120.

Maes, J., Leroy, H., & Sels, L. (2014). Gender differences in

entrepreneurial intentions: A tpb multi-group analysis

at factor and indicator level. European Management

Journal, 32(5), 784-794. doi: 10.1016/j.emj.2014.01

.001

Martos, V. (2007). El compromiso en la empresa familiar bajo

una ´optica de liderazgo transformacional y aprendizaje

organizacional. Investigaciones Europeas de Direcci´on

y Econom´ıa en la Empresa, 13(3), 217-234.

Marulanda, F., Montoya, I., & V´elez, J. (2014). Teor´ıas

motivacionales en el estudio del emprendimiento. Pensamiento

y Gesti´on, 36, 204-236.

Matthews, C., Schenkel, M., & Hechavarria, D. (2009).

New firm creation in the united states. In R. Curtin &

P. Reynolds (Eds.), (p. 51-67). New York, NY: Springer.

doi: 10.1007/978-0-387-09523-3 4

Medina, P., Bol´ıvar, A., & Lemes, A. (2014). Un paso m´as

en la investigaci´on de la intenci´on emprendedora del

estudiante universitario guesss. Revista de Estudios

Empresariales, 2, 63-80.

Morales, F. M. J. (2011). Liderazgo: Hecho y ficci´on. Madrid,

Espa˜na: Alianza Editorial.

Moriano, J. A., Gorgievski, M., Laguna, M., Stephan, U.,

& Zarafshani, K. (2012). A cross-cultural approach

to understanding entrepreneurial intention. Journal of

Career Development, 39(2), 162-185.

Mueller, S., & Thomas, A. (2001). Culture and entrepreneurial

potential: a nine country study of locus of control and

innovativeness. Journal of Business Venturing, 16(1),

-75.

n´an, F. L., Nabi, G., & Krueger, N. (2013). British and

spanish entrepreneurial intentions: A comparative study.

Revista de Economia Mundial, 33, 73-103.

n´an, F. L., Santos, F., & Fern´andez, J. (2011). The influence

of perceptions on potencial entrepreneurs. International

Entrepreneurship Management, 7, 373-390.

n´an, F. L., Urbano, D., & Guerrero, M. (2011). Regional variations

in entrepreneurial cognitions: Start-up intentions

of university students in spain. Entrepreneurship and

Regional, 23(3-4), 187-215.

Nascimento, B., Gonc¸alves, J., Hon´orio, A., & Bastos, F.

(2010). Empreendedorismo e internacionalizac¸ ˜ao: um

caso no setor de eventos de gest ao. Revista Ibero

Americana de Estrat´egia, 9(1), 4-31.

Nishantha, B. (2009, December). Influence of personality

traits and socio-demographic background of undergraduate

students on motivations for entrepreneurial career:

the case of sri lanka. In Euro asia management studies

association (eamsa). Kyoto, Japan.

Olmos, R. (2011). An´alisis de la intenci´on emprendedora

en estudiantes universitarios a trav´es de los rasgos de

personalidad. Multiciencias, 11(1), 65-75.

Palich, L., & Bagby, D. (1995). Using cognitive theory to

explain entrepreneurial risk-taking: Challenging conEntrepreneurial

intentions in Latin American students (Research Article) — 59/59

ventional wisdom. Journal of Business Venturing, 10,

-438.

Popescu, C. C., Bostan, I., Robu, I. B., & Maxim, A. (2016).

An analysis of the determinants of entrepreneurial intentions

among students: A romanian case study. Sustainability,

(8), 771. doi: 10.3390/su8080771

Rodr´ıguez, C., & Jim´enez, M. (2005). Emprenderismo, acci´on

gubernamental y academia. revisi´ın de la literatura. Innovar,

, 73-89.

S´anchez, J. C., Lanero, A., & Yurrebaso, A. (2005). Variables

determinantes dela intenci´on emprendedora en el

contexto universitario. Revista de Psicolog´ıa Aplicada,

(1), 37-60.

Schjoedt, L., & Shaver, K. (2012). Development and validation

of a locus of control scale for the entrepreneurship

domain. Small Business Economics, 39, 713-726.

Schwer, R. K., & Yucelt, U. (1984). A study of risk-taking

propensities among small business entrepreneurs and

managers: an empirical evaluation. American Journal

of Small Business, 7, 33-40.

Segal, G., Borgia, D., & Schoenfeld, J. (2005). The motivation

to become an entrepreneur. International Journal of

Entrepreneurship Behavior and Research, 11(1), 42-

Shane, S., Locke, E., & Collins, C. J. (2003). Entrepreneurial

motivation. 2003, 25(1), 217-226.

Shane, S., & S.Venkataraman. (2000). The promise of entrepreneurship

as a field of research. Academy of Management

Review, 217-226.

Shapero, A., & Sokol, L. (1982). The encyclopedia of entrepreneurship.

In C. Kent, D. Sexton, & K. H. Vesper

(Eds.), (p. 72-90). Englewood Cliffs, NJ: Prentice-Hall.

Shaver, K., & Scott, L. (1991). Person, process, choice: the

psychology of new venture creation. Entrepreneurship

Theory & Practice, 16(2), 23-45.

Shittu, A., & Dosunmu, Z. (2014). Family background and

entrepreneurial intention of fresh graduates in nigeria.

Journal of Poverty, Investment and Development, 5,

-90.

Soria, K., Honores, G., & Guti´errez, J. (2016). Gender and

social legitimacy of entrepreneurship: Contribution to

entrepreneurial intention in university students from

chile and colombia. Journal of Technology Managment,

(3—), 67-76.

Soria-Barreto, K., niga Jara, S. Z., & Ruiz-Campo, S. (2016a).

Determinantes de la intenci´on emprendedora: nueva

evidencia. Revista Interciencia, 41(5), 325-330.

Soria-Barreto, K., niga Jara, S. Z., & Ruiz-Campo, S. (2016b).

Educaci´on e intenci´on emprendedora en estudiantes

universitarios: Un caso de estudio. Formaci´on Universitaria,

(1), 25-34.

Sua´rez-A´ lvarez, J., & Pedrosa, I. (2016). The assessment of

entrepreneurial personality: The current situation and

future directions. Papeles del Psic´ologo, 37(1), 62-68.

Thompson, E. R. (2009). Individual entrepreneurial intent:

Construct clarification and development of an internationally

reliable metric. Entrepreneurship Theory and

Practice, 33(3), 669-694.

Thurik, R., & Dejardin, M. (2011). The impact of culture on

entrepreneurship. The European Business Review, 1(2),

-59.

Uddin, R., & Kanti, T. (2012). Determinants of entrepreneurial

intentions of business students in bangladesh.

International Journal of Business and Management,

(24), 128-137.

Venkataraman, S. (1997). Advances in entrepreneurship,

firms emergence and growth. In J. Katz & R. Brockhaus

(Eds.), (p. 119-138). Greenwich: JAI Press.

Verheul, I., Thurik, R., Grilo, I., & Zwan, P. (2012). Explaining

preferences and actual involvement in selfemployment:

gender and the entrepreneurial personality.

Journal of Economic Psychology, 33(2), 325– 341.

Wadhwa, V., Aggarwal, R., Holly, K., & Salkever, A. (2009).

The anatomy of an entrepreneur. family background and

motivation. New York, NY: Kauffman Foundation.

Wilson, F., Kickul, J., & Marlino, D. (2007). Gender, entrepreneurial

self-efficacy, and entrepreneurial career intentions:

Implications for entrepreneurship. Education.

Entrepreneurship theory and practice, 31(3), 387-406.

Winn, J. (2005). Women entrepreneurs: Can we remove the

barriers? International Entrepreneurship and Management

Journal, 1, 381–397.

Zhao, H., Siebert, S., & Hills, G. E. (2005). The mediating

role of self-efficacy development of entrepreneurial

intentions. Journal of Applied Psychology, 90(6), 1265-

Zula, K., Yarrish, K., & Christensen, S. (2010). Initial assessment

and validation of an instrument to measure student

perceptions of leadership skills. Journal of Leadership

Studies, 4(2), 48-55.




DOI: http://dx.doi.org/10.21500/20112084.2794

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.