Abstract
Research confirms that entrepreneurial intention plays an important role in the decision to start a new firm. For this reason, it has received a lot of attention from researchers who have studied it from different perspectives, using different variables. The goal of this chapter is to investigate the reasons why some individuals tend more to entrepreneurship than others. By utilizing Schwartz's theory of cultural values as the explaining model, this paper analyzes cultural values in relation to three bipolar dimensions: conservation vs. autonomy, hierarchy vs. egalitarianism, and mastery vs. harmony. The authors applied the EOQ scale to a sample of 600 nascent entrepreneurs aged between 25 and 35, belonging to several autonomous communities in Spain. The results show significant differences in the variables of personal, contextual, and entrepreneurial intention regarding the gender, occupation, or professions of the parents and the autonomous community.
TopIntroduction
Entrepreneurship plays a crucial role in the development of a country, since its considered a critical factor in promoting innovation, creating employment opportunities and generating social welfare and development (Doran, McCarthy, & O’Conner, 2018), maintaining sustainable development (Youssef, Boubaker, & Omri, 2018). Such is its impact that some authors have labelled entrepreneurs as the “engines of economic growth” in the development of a given country (Baron & Shane, 2008). More specifically, job creation has been considered as one of the principal contributions of entrepreneurs.
In recent years, the crisis generated high levels of unemployment, especially among youth (Tomić, 2018; Pal'Ová, Vejačka, & Kakalejčík, 2020). Recent Global Entrepreneurship Monitor (GEM) data (2018–2019) indicate that in innovation-driven economies, more than 50% of entrepreneurs are expecting to generate medium to high job-creation opportunities in the next five years.
Researchers also agree that entrepreneurs are made and not born and that entrepreneurs can be trained (Sánchez, 2013; Shah, Amjed, & Jaboob, 2020; López-Núñez, Rubio-Valdehita, Aparicio-García, & Díaz-Ramiro, 2020). Thus, the importance of considering the factors that make someone an entrepreneur, as well as the topics related to the forming of entrepreneurs (Boldureanu et al., 2020).
Jena (2020) analyzed the impact of students’ attitude towards entrepreneurship education. The results of the study showed a positive and significant impact of attitudes towards education and, as a consequence, a significant influence, also, on entrepreneurial intention.
In other words, people do not suddenly turn into entrepreneurs without certain triggering factors, and more importantly, without having the intention to be an entrepreneur. It is therefore critical for us to understand what factors influence self-employment intention; hence investigating the determinants of such an intention is a crucial step for identifying ways in which to train competitive entrepreneurs.
Entrepreneurial intention has been widely studied (Carr & Sequeira, 2007; Usman, 2019; Vamvaka, Stoforos, Palaskas, & Botsaris, 2020). Nonetheless, the results of studies into the determinants of entrepreneurial intention vary in relation to different countries and cultures (Bogatyreva et al., 2019). More studies are thus needed in local contexts to increase the relevance and validity of previous results. Furthermore, although many studies use the theory of planned behaviour (TPB) to predict entrepreneurial intention, certain limitations can be identified in this type of approach. Some recent studies (do Paço, Ferreira, Raposo, Rodrigues, & Dinis, 2011; Vamvaka, Stoforos, Palaskas, & Botsaris, 2020) do not consider any other variables in their TPB model for predicting this intention. Although Sommer and Haug (2011), Fini, Grimaldi, Marzocchi, and Sobrero (2012), and, more recently, Gieure, Benavides-Espinosa, & Roig-Dobón (2020), have extended the model, certain variables were not considered in their studies either, such as the participants personality traits or beliefs regarding entrepreneurship. These limitations mean that the determinants of entrepreneurial intention still need to be clarified.
Other studies have shown that personality traits influence venture creation (Kerr, Kerr, & Xu, 2017; Ndofirepi, 2020). It can even be said that the influence of personality traits is the strongest determinant in the intention to start a business (Voda & Florea, 2019; Nidhi & Kumari, 2018). Individuals with personality traits such as risk taking propensity and internal locus of control tend to be more entrepreneurial and committed to entrepreneurial activities such as starting up a new business (Munir, Jianfeng, & Ramzan, 2019; Scafarto, Poggesi, & Mari, 2019). Nevertheless, these personality traits only partially explain business start-ups and the entrepreneurial process. Studies that defend the influence of these personality traits have not taken into account the individuals’ entrepreneurial beliefs. This gap in the field of entrepreneurial research is surprising, given that beliefs have been identified as influential factors in an individual’s entrepreneurial behavior. Thus, some studies have clearly demonstrated that entrepreneurial behaviour is strongly influenced by people’s values and beliefs (Krueger & Brazeal, 1994; Gasse, & Tremblay, 2011; Kakouris, 2016; Bousmpou, Kakouris, & Samathrakis, 2019).
Key Terms in this Chapter
Risk-Taking: To act boldly and spontaneous in less calculated fashion, while borrowing heavily and committing resources into unknown environments and uncertain outcomes in a fearless manner.
Self-Efficacy: Degree to which an individual perceives himself as capable of managing internal and external life experiences.
Proactiveness: The engaging in anticipative, opportunity-seeking, forward-looking behaviors that allow for the creation and exploitation of environmental opportunities.
Culture: Set of shared attitudes, ideas, customs, and social behavior of a particular society.
Entrepreneurial Intention: The perceived desirability and feasibility of becoming an entrepreneur. Entrepreneurial intention is determined by one’s personal attitude toward the behavior, perceived social norms and perceived behavioral control.
Internal Locus of Control: Generalized expectation held by the individual concerning whether he/she possesses or lacks power over what happens to him/her. For Internal Locus of Control, the individual believes life outcomes are controllable within his reach.
Autonomous Community: First-level administrative division within the country of Spain, which allows its different regions, in accordance with the Spanish constitution of 1978, limited autonomy, politi- cal and administrative rights. The country comprises of 17 autonomous communities within the nation, in which each has its own Executive, Legislative and Judicial Power.
Innovativeness: The tendency to engage in and support new ideas, novelty experimentation, and creative processes that may result in new products, services, or technological processes.