(LUẬN văn THẠC sĩ) factors affecting entrepreneurial intent, a study of business students in vietnam

Background

1.1.1 History of entrepreneurship in Vietnam

During Vietnam’s Subsidy Period, the government tightly controlled the economy, leading to the use of coupons and food stamps for purchasing essential goods and services This system fostered nepotism, as those in government positions received more coupons and had access to exclusive shops, while ordinary citizens faced long waits for basic commodities like rice In 1986, the Vietnamese government initiated the “Doi Moi” campaign, marking a pivotal shift towards gradual integration into the world economy This political and economic renewal aimed to balance industrial and agricultural development through a combination of state, collective, and private ownership, transitioning the country from a centrally planned economy to a form of market socialism.

The socialist-oriented market economy in Vietnam has significantly facilitated the establishment and growth of private businesses in the production of consumer goods and attracted foreign investment, which are vital for the country's economic development By the late 1990s, over 30,000 private enterprises were established, contributing to an impressive annual growth rate exceeding 7% However, a report by the Bertelsmann Stiftung’s Transformation Index in 2014 highlighted challenges in the banking sector and state-owned enterprises, leading to a decline in growth to just 5.03% in 2012, marking the fifth consecutive year below the 7% average of previous decades In contrast, the private sector has emerged as a key driver of wealth, accounting for approximately 60% of Vietnam's GDP, with per capita GDP at current U.S prices reflecting this economic shift.

Vietnam has made significant economic strides, with GDP growth consistently positive over the past decade In 2010, the country achieved middle-income status, with per capita income rising to $1,224 from $1,523 in 2012 The private sector has played a crucial role, contributing to 29% of the national budget through taxes, up from 18% in 2006, and creating 3.2 million jobs between 2006 and 2010—four times more than state-owned enterprises The investment capital ratio for the private sector was 36.1% in 2010 and slightly decreased to 35.2% in 2011, highlighting the need for ongoing support and focus on sustainable growth for private enterprises in Vietnam.

The Company Law and Law on Private Enterprise, initially adopted in 1990 and revised into the New Enterprise Law in 1999, significantly fostered entrepreneurial activities in Vietnam This updated legislation eliminated unnecessary business license restrictions across 145 industries, facilitating easier market entry for private enterprises Additionally, it permitted private investment funds, expanding beyond the traditional reliance on public investment capital from the state budget.

Following the implementation of the New Enterprise Law in 2001, the number of new enterprises surged to 35,447, surpassing the total created under the previous Company Law and Law on Private Enterprise over eight years This significant increase led to the emergence of a new professional class known as "entrepreneurs."

Entrepreneurship development through Small and Medium Enterprises (SMEs) plays a crucial role in socio-economic diversification by promoting de-collectivization SMEs are officially defined in the government document 681/CP-KNT, highlighting their significance in fostering economic growth and innovation.

1998 Accordingly, SMEs are those independent business and production establishments that have registered their business under the current legislation

Small Enterprises are defined as businesses with registered capital of less than VND 1 billion and a maximum of 50 employees In contrast, Medium Enterprises are characterized by capital between VND 1 billion and VND 5 billion, employing between 51 and 200 individuals.

Vietnam's entrepreneurial landscape has been significantly shaped by influential figures like Pham Nhat Vuong of Vingroup, Đang Le Nguyen Vu of Trung Nguyen, and Bau Đuc of Hoang Anh Gia Lai, inspiring a new generation of entrepreneurs This surge in entrepreneurial activity has become a prominent trend among the youth, particularly university students, contributing to Vietnam's economic development Popular search terms such as "Doanh nhan tai Viet Nam" yield over 14 million results, while "Khoi nghiep kinh doanh tai Viet Nam" generates around 1 million results, highlighting the vibrant ecosystem of websites, associations, and communities supporting entrepreneurs Factors driving this trend include high unemployment rates, the low cost of starting a business, and a cultural inclination towards self-employment According to Ngan (2013), statistics from the General Statistics Office of Vietnam provide further insight into the rising startup rates in the country.

2013, 76,955 enterprises were established (10.1% higher than 2012); however, 60,737 enterprises went bankrupt or stopped operating (12.0% higher than

In 2012, key factors leading to bankruptcy were identified as ongoing losses (56.4%), inadequate management skills (5.1%), and insufficient capital and market presence (38.5%) Additionally, Diep (2013) reported that the unemployment rate among graduates aged 21 to 29 reached 101,000, representing 9.89% of the overall unemployment figures.

Research gap

Recent decades have seen a significant increase in research on entrepreneurship, driven by its contributions to economic growth, job creation, and innovation (Alfonso & Cuevas, 2012) As the tendency to start businesses rises, understanding the behavioral intentions behind entrepreneurship has become essential (Krueger et al., 2000) Although numerous studies have explored personal and environmental factors influencing entrepreneurial intent, such as personality traits and social environment, findings have often been inconclusive (Tung & Mui, 2011) In Vietnam, despite a growing trend in new venture creation, research into cognitive-based factors affecting entrepreneurial intent remains limited This study aims to fill that gap by examining the impact of Ajzen's model variables—attitude, social norms, and perceived behavioral control—alongside personality traits on the entrepreneurial intentions of business students in Vietnam, highlighting a novel approach in the literature.

Research objectives

This research aims to explore key contributions to entrepreneurial intention models and assess their predictive power regarding the startup initiatives of business students in Vietnam Utilizing Ajzen's (1991) theory of planned behavior, the study incorporates essential factors identified in the literature related to entrepreneurial intention Furthermore, it examines the influence of proactive personality, as proposed by Batteman and Crant (1993), on entrepreneurial intent Employing SPSS for analysis, the research will determine whether the identified factors significantly impact entrepreneurial intention and whether this intention effectively correlates with new venture creation behaviors among business students in Vietnam.

Research scope

This study examines business students and alumni from various undergraduate and postgraduate programs at local and foreign universities in Vietnam It specifically gathers data through questionnaires from students enrolled in Advanced Diploma, Bachelor, MBA, and second-degree programs at institutions such as the University of Economics (UEH), International Business School (ISB - UEH), ERC International Business School, and Foreign Trade University (FTU) The research was conducted during July and August of 2014.

Contributions and implications

This research enhances the understanding of the cognitive processes involved in entrepreneurial activities and their measurement, while also demonstrating the generalizability of the model in Vietnam Additionally, it serves as a valuable guide for individuals contemplating entrepreneurship, as well as for educators, investors, economists, and policymakers aiming to foster entrepreneurial activity and drive economic development.

Structure of the research

The research is derived from general introduction to the literature review and hypothesis development, and the research methodology Chapter one named

This article explores the research problem and highlights the significance of understanding factors that influence entrepreneurial intent in Vietnam It begins with an introduction, followed by a literature review that outlines fundamental concepts and hypothesis development relevant to the research model The methodology section details the approach taken to conduct the study, while the data analysis chapter discusses the collected data, offering insights for the concluding recommendations presented in the final chapter.

Theoretical background

2.1.1 The application of Ajzen’s (1991) Theory Planned Behaviour (TPB) model in predicting entrepreneurial intent

Numerous studies on entrepreneurship have sought to identify the situational and environmental factors influencing entrepreneurial behavior However, Krueger et al (2000) assert that intentions serve as the most reliable predictor of planned behaviors, including entrepreneurship, as they provide essential insights into the underlying processes when behaviors are challenging to observe Ajzen (1991) supports this view, indicating that external factors affect intentions and behaviors indirectly through attitude changes Segal et al (2005) further reinforce this idea by highlighting that external forces merely act as "triggers" that create a supportive environment for entrepreneurship, without a direct relationship to entrepreneurial activity Recent entrepreneurship models have emerged from cognitive process frameworks, emphasizing salient beliefs in entrepreneurial performance Shapero’s (1982) model of the "Entrepreneur Event" (SEE), although not extensively tested, aligns with this cognitive approach and identifies three key factors influencing entrepreneurial intentions: perceived desirability, perceived feasibility, and the propensity to act on opportunities, which collectively enhance the likelihood of entrepreneurial engagement.

Displacement events, such as social pressure, significantly impact an individual's desirability and entrepreneurial intentions Additionally, having family members who are self-employed enhances both desirability and credibility, further influencing the likelihood of pursuing entrepreneurial ventures, as noted by Shapero and Sokol.

In the venture creation process outlined by Shapero (1982), three key steps are identified: the preliminary phase, where displacement events motivate individuals to consider entrepreneurship; the transforming phase, where supportive circumstances such as training and social networks help potential entrepreneurs develop; and the deciding phase, where access to financial and technical resources influences the decision to launch a venture Alfonso and Cuevas (2012) summarize that an individual's intention to start a new venture is driven by their perceived desirability and feasibility, which are influenced by their willingness to act on opportunities and the occurrence of displacement events Furthermore, Krueger et al (2000) emphasize that the potential for venture creation must be established prior to these displacement events, with the propensity to act emerging afterward.

Figure 2.1 Shapero’s (1982) model of the “Entrepreneur Event” (SEE)

The theory of planned behavior (TPB), developed by Ajzen in 1991, serves as a primary framework for understanding individual actions, particularly in the context of venture creation Engle et al (2008) conducted a study across twelve countries, highlighting the use of cognitive theory to predict behaviors related to specific actions Their findings indicate that this approach effectively explains the motivations behind individual behaviors.

Cognitive processes encompass the perception, storage, retrieval, response, and evaluation of information, highlighting that individuals often become "lost in thought," which may obscure the true reasons behind their actions (p.37) Research by Segal et al (2005) indicates that theories such as the Theory of Reasoned Action (TRA) and the Theory of Planned Behavior (TPB) have historically been pivotal in understanding and predicting behavioral intentions (Fishbein & Ajzen, 1975; Ajzen & Fishbein, 1980).

The Theory of Reasoned Action (TRA), developed in 1987 and 1991, is one of the most widely applied theories in understanding behavior, comprising two key constructs: attitude towards the behavior and subjective norm An extension of the TRA, the Theory of Planned Behavior (TPB), introduced by Ajzen in 1991, addresses the limitations of the TRA by adding a third construct known as perceived behavioral control (PBC).

Figure 2.2 Ajzen’s theory of planned behavior (1991)

Attitude toward behavior reflects an individual's overall evaluation of a specific behavior, which can be positive or negative This assessment is influenced by a comprehensive set of beliefs regarding various outcomes and attributes associated with that behavior.

According to McClelland, Shapero, Val Gelderen, and Jasen (as cited in Engle et al., 2008), the construct of "attitude toward the behavior" encompasses three key variables: autonomy, personal wealth, and achievement motivation Autonomy, in particular, is defined by the notions of independence and self-direction.

“freedom”, personal wealth is often accepted as a financial motivation and achievement motivation can be described as the need an individual places on

Success in taking actual action is determined by the extent to which individuals set and pursue their goals Typically, a strong belief in achieving positive outcomes from intentional behaviors fosters a more favorable attitude towards those actions.

Subjective norm refers to the “likelihood that important referent individuals or groups approve or disapprove of performing a given behavior.” (Ajzen,

In 1991, it was noted that an individual's perception of social support from their environment significantly influences their behavior (p.195) Bandura (1977b, as cited in Engle et al., 2008) observed that people are more likely to adopt behaviors demonstrated by family, friends, or mentors, particularly when those behaviors yield positive outcomes Additionally, Gopi and Ramayah (2007), referencing the study by Vankatesh and Davis (2000), highlighted that social influence and pressure can compel individuals to engage in behaviors even if they do not personally endorse them.

Perceived behavioral control is an individual's belief in their ability to achieve desired outcomes, which can impact their behavior even if they have a positive attitude and supportive social norms According to Ajzen (1991), this concept addresses situations where individuals lack full control over their actions due to limited opportunities and resources Perceived behavioral control is shaped by personal experiences, information exchanged with the environment, and factors that influence the perceived difficulty of performing a behavior.

Entrepreneurship is characterized by a mindset that prioritizes opportunities over threats, making it an intentional process where intentions significantly predict planned entrepreneurial activities This study highlights that while personal and situational factors indirectly influence entrepreneurial endeavors, intention-based models provide valuable insights into the psychological aspects of individuals and the external factors affecting new venture creation (Krueger et al., 2000) The Theory of Planned Behavior (TPB) by Ajzen (1991) is recognized as a leading framework for predicting the intention to start new ventures, applicable not only to entrepreneurial behavior but to various types of actions (Alfonso & Cuevas, 2012) Empirical evidence supports the effectiveness of Ajzen’s model in this context.

Ajzen's 1991 model has been extensively validated through numerous studies on entrepreneurial intention at both micro and macro levels, highlighting its effectiveness as a predictor of targeted behavior (Krueger and Brazeal, 1994; Krueger et al., 2000; Engle et al., 2008) Christopher and Michael (2014) further support this by conducting a meta-analysis that confirms positive and statistically significant relationships between attitude and entrepreneurial intent, social norms and entrepreneurial intent, and entrepreneurial intent and perceived behavioral control.

2.1.2 Proactive Personality (Batteman and Crant, 1993) in predicting entrepreneurial intent

Batteman and Crant (1993) introduced the Proactive Personality concept, characterized by a 17-item measurement scale that reflects a stable behavioral tendency distinct from traits like self-consciousness and need for achievement Individuals exhibiting proactive behavior actively influence their environments, demonstrating qualities such as opportunity scanning, initiative, and perseverance in effecting change (p.105) Crant (1996) further noted that proactive individuals are inclined to seek out favorable environments that align with their strengths and needs Conversely, those lacking a proactive personality typically show minimal initiative, miss opportunities, and passively endure their circumstances, often relying on others for change This distinction highlights the significant relationship between proactive personality traits and entrepreneurial intention.

According to Becherer and Maurer (1999), an entrepreneur is defined as an individual who "pursues an opportunity regardless of the resources they control," aligning with the concept of a proactive personality Crant (1996) further establishes that a proactive personality is positively linked to entrepreneurial intention, demonstrating that its measurement scale accounts for a significant amount of additional variance in entrepreneurial intention, even when considering factors such as gender, education, and having entrepreneurial parents in regression models.

Review on “Entrepreneurial intent”

Entrepreneurship is the process of transforming innovation into new products, services, or businesses to capitalize on market opportunities (McGuire, 2003, as cited in Prabhu et al., 2011) It represents a mindset that prioritizes opportunities over threats, highlighting the importance of intentionality in the opportunity identification process (Krueger et al., 2000) This perspective underscores that human behavior is often planned, indicating that the launch of a new firm is a deliberate action rather than a mere reaction to external stimuli.

According to a 2012 study, the intention to start a business is a crucial precursor to entrepreneurial behavior and is shaped by various influencing factors By effectively managing these elements, it is possible to enhance entrepreneurial intent, which can subsequently boost venture creation and entrepreneurial activity within a specific region, ultimately contributing to economic growth.

Conceptions of Individual Entrepreneurial Intent According to Thompson

The concept of "entrepreneurial intent" is crucial for understanding new business ventures, as it encompasses various elements such as career orientation, vocational aspirations, and the desire for self-employment However, it's essential to differentiate between the intent to own a business and the actual process of establishing a new firm, as ownership can occur through purchasing an existing business or a franchise without engaging in entrepreneurial activities Additionally, the term "nascent entrepreneurs" requires clarification to better understand this distinction.

“entrepreneurial intent” “Nascent entrepreneurs” is often referred to

A nascent entrepreneur is defined as an individual who has progressed from initial interest and planning to actively taking steps toward establishing a new business This process involves multiple stages, starting with the conscious intention to become an entrepreneur and culminating in the setup and operation of a firm, including legal structuring and hiring Unlike those with merely an entrepreneurial disposition, individuals with entrepreneurial intent have thoughtfully considered the possibility of starting a business and have not dismissed it This study aligns with Thompson (2009), emphasizing that an individual with entrepreneurial intent meets specific criteria that distinguish them from those who may only have a general inclination toward entrepreneurship.

Individual entrepreneurial intent is defined as a self-recognized conviction of an individual who plans to start a business venture in the future, even if they do not immediately establish one due to unforeseen circumstances (Thompson, 2009) This intent is crucial for individuals transitioning to nascent entrepreneurs, as it distinguishes them from those without entrepreneurial aspirations Prabhu et al (2011) emphasize that individuals with entrepreneurial intent are more likely to engage in business-related activities than those without such intent While the intention to start a business can predict actual behavior, it is important to note that the concept of entrepreneurial intent may not fully apply in the context of the Vietnamese market According to Do (2009), Vietnamese entrepreneurs can be identified by three criteria: their activities focus on generating profit through the delivery of products or services, they possess the necessary resources and psychological traits to run a business, and their business serves as their primary source of income, ensuring their livelihood and that of their families.

In this study, "individual entrepreneurial intent" refers to a person who aspires to start a business venture and has a conscious plan to do so in the future, even if they have not yet established a new business due to unforeseen circumstances For an individual to be recognized as having entrepreneurial intent, their business must meet specific criteria; it should not be of a small scale, possess a low-skilled manufacturing level, or fail to provide products or services in the market.

Hypotheses development

According to Ajzen's theory of planned behavior (1991), an individual's intention to perform a behavior is stronger when the three antecedents are favorable He emphasized that "the stronger the intention to engage in a behavior, the more likely should be its performance" (Ajzen, 1991, p 188) This theory suggests that behavioral performance can be effectively predicted based on a person's plans and intentions regarding the behavior, highlighting the critical role of intentions in influencing actions.

Motivational factors play a crucial role in influencing behavior, reflecting the level of effort individuals are willing to invest in performing a specific action Generally, a stronger intention to engage in a behavior correlates with a higher likelihood of successfully executing that behavior (Ajzen, 1991, p.181, as cited in Engle et al., p.38).

Attitude toward entrepreneurship is defined as the degree to which an individual feels positively or negatively about engaging in entrepreneurial activities According to the Theory of Reasoned Action (TRA), this attitude significantly influences intentions, which in turn predict actual behavior Research indicates that favorable attitudes toward entrepreneurship lead to stronger entrepreneurial intentions and increased likelihood of starting a business For instance, studies show that Latin America exhibits a generally positive attitude toward entrepreneurship, making business initiation a common occurrence Conversely, negative perceptions of entrepreneurship, such as viewing it as difficult or risky, can diminish entrepreneurial intent, as evidenced by research conducted among students in Ukraine Overall, cultivating a positive attitude toward entrepreneurship is crucial for fostering entrepreneurial intentions and actions.

According to Krueger et al (2000), an individual's attitudes significantly influence their decision to start a business, often occurring before they actively seek opportunities This phenomenon can be understood through the lens of behavioral learning, where individuals develop a preference for actions they believe will yield positive outcomes while forming negative attitudes towards those associated with undesirable results (Ajzen, 1991) Consequently, aspiring entrepreneurs are motivated by the expectation that their efforts will fulfill their personal needs and desires.

Research indicates that university business students with positive attitudes toward entrepreneurship are likely to express vocational preferences during critical career decision-making moments The findings support the hypothesis that a strong belief in the benefits of entrepreneurship correlates with a more favorable attitude toward pursuing entrepreneurial ventures.

H1: There is a positive relationship between attitudes toward entrepreneurship and entrepreneurial intention

Social norms, or subjective norms, significantly influence entrepreneurial intentions by reflecting the approval or disapproval from key individuals or groups, such as family, friends, and mentors (Krueger et al., 2000; Ajzen, 1991) Research presents mixed findings on the relationship between social norms and entrepreneurial intention, with some studies indicating no significant correlation, while others confirm a strong link, particularly within the frameworks of the Theory of Reasoned Action (TRA) and Theory of Planned Behavior (TPB) (Gopi & Ramayah, 2007) Notably, Engle et al (2008) found that social norms were a significant predictor of entrepreneurial intent across twelve countries, with Costa Rica showing that social norms accounted for 40% of the variance in entrepreneurial intent This suggests that individuals may pursue entrepreneurship despite unfavorable conditions, often influenced by the entrepreneurial experiences of those around them Ultimately, social influence and pressure play critical roles in shaping an individual's intent to start a business, even if they initially do not aspire to be an entrepreneur (Gopi & Ramayah, 2007).

In many high-income European countries, the lack of an "Entrepreneurial Culture" diminishes the desire to pursue entrepreneurship This is largely due to significant bureaucratic obstacles and extensive worker protections, which create a high opportunity cost for self-employment compared to other options The study supports the hypothesis that social norms positively influence entrepreneurial intentions.

H2: There is a positive relationship between social norms toward entrepreneurship and entrepreneurial intent

Perceived behavioral control toward entrepreneurship Alfonso and Cuevas

In 2012, studies indicated that even with a positive attitude and strong support from close relationships, an individual's behavior may still be hindered by factors such as opportunities and resources, including money, time, and skills Acknowledging the limitations of the Theory of Reasoned Action (TRA), Ajzen (1991) introduced the concept of perceived behavioral control, which reflects an individual's perception of their ability to achieve specific outcomes This enhancement to the TRA model addresses previous shortcomings by establishing that perceived control plays a critical role in determining behavioral intentions.

According to Ajzen (1991), an individual's intention to perform a behavior is influenced by their positive attitudes, subjective norms, and perceived behavioral control Specifically, a favorable attitude and strong perceived control enhance the likelihood of intention, which in turn increases the probability of actual behavior performance This concept is particularly relevant in entrepreneurship, where self-efficacy—the belief in one's capability to initiate a business—plays a crucial role in shaping entrepreneurial intentions (Scherer et al., 1989, as cited in Krueger and Brazeal, 1994).

Entrepreneurs are distinguished by their self-efficacy, which influences their ability to overcome obstacles in starting a business (Krueger and Brazeal, 1994) Individuals who feel capable are more likely to actively seek solutions to challenges, unlike those with less salient intentions This paper posits that receiving credible information and robust support enhances an individual's belief in their entrepreneurial capabilities, ultimately motivating them to plan and take action towards establishing a new business venture.

H3: There is a positive relationship between perceived behavioral control toward entrepreneurship and entrepreneurial intent

The Proactive Personality Scale developed by Batteman and Crant (1993) highlights individual differences in the propensity to influence one's environment A typical proactive personality is characterized by the ability to identify opportunities, take initiative, act decisively, and persist until significant change is achieved (Crant, 2000) This proactive disposition serves as a crucial link between potential entrepreneurial orientation and an individual's perception of their environment.

A study of 215 small company presidents reveals a significant link between proactive personality traits and entrepreneurial behavior Becherer and Maurer (1999) assert that individuals with a proactive disposition are more inclined to engage in entrepreneurial activities The findings indicate that proactive presidents are more likely to establish organizations that actively seek out opportunities and adopt an aggressive market approach Additionally, the analysis of variance demonstrates that these proactive leaders tend to start more businesses rather than opting to buy or inherit existing ones.

A study by Crant (1996) highlights a significant positive correlation (r = 48) between proactive personality and entrepreneurial intent among undergraduate and MBA students Proactive personality accounts for an additional 17% of the variance in entrepreneurial intention, even when controlling for factors such as gender, education, and parental entrepreneurial background These findings indicate that proactive personality is a key factor positively influencing entrepreneurial intention.

H4: The extent to which people possess a proactive personality will be positively associated with entrepreneurial intent

The proposed model is developed based on the above hypothesis which developed from Ajzen’s Theory of planned behavior (1991) and Proactive Personality construct (Batteman & Crant, 1993) applying on entrepreneurial intent

Perceived behavioral control toward entrepreneurship

Research design

The research design began by defining the research objective, followed by a literature review to explore relevant concepts from the theory of planned behavior and proactive personality, and their impact on the dependent variable, "entrepreneurial intent." Subsequently, a model was developed to align with the specific context of Vietnam The paper then detailed the research methodology, including data collection methods, sources, measurement scales, sampling techniques, and data analysis approaches.

A comprehensive and effective questionnaire was developed based on previously studied scales and translated into Vietnamese A pilot test involving 20 business students in Ho Chi Minh City was conducted to ensure clarity and understanding of the final questions, as well as to estimate an appropriate sample size and refine the study design before launching the full-scale research project Following the pilot test, the finalized questionnaire was distributed in both English and Vietnamese to business students at local and foreign universities with branches in Vietnam After collecting all responses, data analysis was performed to extract insights and provide valuable recommendations for enhancing entrepreneurial activities in Vietnam.

Measurement scales

This study aimed to investigate the factors influencing the entrepreneurial intent of business students in Vietnam, utilizing scales derived from Ajzen’s Theory of Planned Behavior (TPB) model, which includes attitude, social norms, and perceived behavioral control, alongside the proactive personality concept by Batteman & Crant (1993) Entrepreneurial intent is defined as the desire to initiate a business venture and the conscious planning to do so in the future, even if the individual has not yet established a new business due to unforeseen circumstances The concept of "attitude towards becoming an entrepreneur" plays a crucial role in this context.

The study specifically addressed entrepreneurial activity by incorporating constructs such as "social norms towards entrepreneurship" and "perceived behavioural control" (Solesvik, 2012) The "proactive personality" was evaluated using a 17-item scale developed by Batteman and Crant (1993), while "entrepreneurial intent" was measured based on the scale from Engle et al (2008) Each statement was analyzed using personal coding and a seven-point scoring system, where a score of 1 indicated "absolutely disagree" or "extremely low level," a score of 4 represented "neutral," and a score of 7 denoted "absolutely agree" or "extremely high level."

Construct 1- Attitude toward entrepreneurship Solesvik

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

Construct 2 - Social norm toward entrepreneurship

SN1 My closest family members think that I should pursue a career as an entrepreneur

SN2 My closest friends think that I should pursue a career as an entrepreneur

SN3 People that are important to me think that I should pursue a career as an entrepreneur

SN4 To what extent do you care about what your closest family members think as you decide on whether or not to pursue a career as self-employed?

SN5 To what extent do you care about what your closest friends think as you decide on whether or not to pursue a career as self- employed?

Construct 3 - Perceived behavioural control toward entrepreneurship

PB1 If I wanted to, I could easily become an entrepreneur

PB2 As an entrepreneur I would have sufficient control over my business

PB3 There are very few circumstances outside my control that may prevent me from becoming an entrepreneur (excluded)

PB4 It is entirely up to me whether or not I become an entrepreneur

Construct 4 - Individual's proactive personality Batteman and Crant

P1 I am constantly on the lookout for new ways to improve my life

P2 I feel driven to make a difference in my community, and maybe the world

P3 I tend to let others take the initiative to start new projects

P4 Wherever I have been, I have been a powerful force for constructive change

P5 I enjoy facing and overcoming obstacles to my ideas

P6 Nothing is more exciting than seeing my ideas turn into reality

P7 If I see something I don't like, I fix it

P8 No matter what the odds, if I believe in something I will make it happen

P9 I love being a champion for my ideas, even against others' opposition

P11 I am always looking for better ways to do things

P12 If I believe in an idea, no obstacle will prevent me from making it happen

P13 I love to challenge the status quo

P14 When I have a problem, I tackle it head-on

P15 I am great at turning problems into opportunities

P16 I can spot a good opportunity long before others can

P17 If I see someone in trouble, I help in any way I can

Construct 5 - Entrepreneurial intent Engle et al

EI1 To what extent have you considered starting your own business?

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?

Sampling design

The subjects in this study were university business students and alumni in

In Vietnam, a study was conducted involving both local and transitional business universities, utilizing a convenient sampling method Questionnaires were distributed among students enrolled in various programs, including Advanced Diploma, Bachelor, MBA, and second-degree courses at the University of Economics (UEH) and the International Business School (ISB).

UEH), ERC International Business School and Foreign Trade University The research time frames were July and August of 2014

According to Williams et al (2010), as sample size is important in factor analysis, there are several guiding rules of thumb are cited in the literature

The minimum required sample size for the study was determined to be 170, based on the criteria of having at least 100 samples and being five times the number of items, as outlined by Hair et al (2010) Specifically, with 34 items, the calculation was 5 multiplied by 34, resulting in a minimum sample size of 170.

In addition, based on four independent factors of the conceptual model, the multiple regression analysis required sample size at least (Tabachnick & Fidell, 2007):

50 + (8xm) = 50 + (8x4) = 82 samples (Where m: is the number of independent factors of the model)

Hair et al (1998) emphasized that factor loading is a crucial criterion for establishing the practical significance of Exploratory Factor Analysis (EFA) in multivariable data analysis, recommending that factor loadings should exceed 0.3 to meet the minimum threshold Additionally, they advised that a sample size of at least 350 is necessary for reliable results.

Consequently, the research aimed at the minimum sample size of 350.

Sampling techniques

This study employed a convenience sampling method with a sample size of 396 to investigate the factors influencing the entrepreneurial intentions of students at the University of Economics (UEH), International Business School (ISB - UEH), ERC International Business School, and Foreign Trade University (FTU).

Data collection methods

Quantitative analysis data was gathered through printed questionnaires distributed to business students at selected universities To ensure the measurement scale's appropriateness for the research topic, a draft questionnaire was tested with 20 business students to identify any potential misunderstandings in the wording Feedback from this initial group led to adjustments in both the measurement scale and its translation The final versions of the original questionnaire and its translation can be found in Appendix A.

Data analysis method

Personal coding and categorizing data was done manually while analyzing data was progressed by SPSS (Statistical Package for Social Scientists)

Data analysis was performed using two approaches: descriptive and inferential statistics Descriptive statistics enabled the numerical and graphical presentation of information, effectively summarizing the collected data However, this method did not allow the researcher to draw conclusions beyond the data itself or test any hypotheses To overcome this limitation, inferential statistics were employed, allowing the researcher to make broader inferences from the data and extend conclusions to general conditions, while descriptive statistics provided insights into the specifics of the collected data.

To evaluate the internal consistency of the survey data, Cronbach's alpha and item-to-total correlation coefficients were utilized to eliminate unsuitable items The standardized Cronbach's alpha formula indicates that an increase in the number of items will raise the alpha value, while a decrease in the average inter-item correlation will lower it Consistent with standard practices in social science research, this study discarded any variables with a Cronbach's alpha score below 0.6.

Exploratory Factor Analysis (EFA) was conducted following the reliability analysis to examine the interrelationships among the variables EFA simplifies the complex relationships among interval-level variables, aiming to uncover the underlying constructs that define these relationships (Leech et al., 2005).

• Barlett’s test was smaller than 0.05: indicates sufficient items for each factor

• KMO index was greater than 0.7 (the range from 0 to 1): indicates that the correlation matrix is significantly different from an identity matrix

Eigenvalues greater than 1.0 are deemed significant as they indicate explained variance This chapter utilized orthogonal rotation (Varimax) for analysis, ensuring that the final factors remain as uncorrelated as possible Consequently, we can infer that the information provided by one factor is independent of the information from other factors.

Multiple regression analysis was employed for hypothesis testing to examine the correlation and variation among four independent variables in relation to one dependent variable As outlined by Leech et al (2005), this method relies on several key assumptions: (1) a linear relationship must exist between the predictor and dependent variables, (2) residuals (errors) should be independent, (3) homoscedasticity or equal error variances is required, (4) there should be no multicollinearity, (5) significant outliers must be absent, and (6) residuals should follow a normal distribution.

In summary, this chapter outlines the research process, detailing the development of the measurement scale and its application in official questionnaires for data collection It also discusses the determination of sample size and the sampling techniques employed, alongside the methods used for data collection.

Descriptive analysis

A total of 500 questionnaires were distributed to business students across various universities in Vietnam, resulting in 497 responses The targeted participants included those enrolled in Advanced Diploma, Bachelor's, and MBA programs at institutions such as the University of Economics and Foreign Trade University, as well as transnational universities like ERC International and the International School of Business Additionally, students pursuing a second degree in evening classes at the University of Economics Ho Chi Minh City were included However, due to incomplete and randomly circled responses that could introduce bias, 101 questionnaires were excluded from the analysis Ultimately, 396 valid responses were utilized for data analysis using SPSS.

Table 1 (Appendix B) presents descriptive statistics highlighting a balanced gender distribution among respondents, with females making up 58.8% and males 41.2% The predominant age group is 20-24 years, representing 51.8% of the sample, followed by 16-19 years at 28.3% This demographic is largely composed of undergraduate students, who account for 84.3% of respondents, with 68.5% identifying as College/University students and 19.7% as white-collar staff Consequently, a significant portion of respondents (65.6%) reported earning less than VND 5 million per month, while 23.5% earned between VND 5 million and VND 10 million Notably, 70.5% of respondents own at least one business in addition to their primary occupation, indicating a strong entrepreneurial intent among the majority of the sample, which suggests that the data is robust and well-representative of the target population.

Assessment and refinement of measurement scale

In this part of research, the measurement scales were assessed and refined by:

- Cronbach alpha to test the reliability of measurement scales

- Exploratory factor analysis (EFA) to test the validity of measurement scales

To evaluate the reliability of the measurement scales, Cronbach’s alpha was calculated, with a threshold of 0.70 considered acceptable It is important to note that an alpha value in the range of 0.60 to 0.69 is also frequently observed, as indicated by Leech et al.

In analyzing the process, the two key outputs are the Corrected Item-Total Correlation and the Cronbach’s alpha if Item Deleted Items with a Corrected Item-Total Correlation of 0.40 or higher indicate a moderate correlation with other items, making them suitable for inclusion in the summated scale for further analysis.

The Exploratory Factor Analysis (EFA) was conducted to validate the measurement scales, simplifying the understanding of relationships among interval-level variables by revealing the underlying constructs (Leech et al., 2005) A KMO value greater than 0.70 indicates sufficient items for each factor, while Bartlett’s Test of Sphericity should be significant, ideally below 0.50, confirming that the correlation matrix differs significantly from an identity matrix Factors are deemed useful when their Eigenvalues exceed 1.0, and the analysis employed an orthogonal rotation (Varimax) to ensure that final factors remained as uncorrelated as possible, allowing for the assumption that the information provided by one factor is independent of the others.

Appendix B presents two key tables: Table 2 displays the original Cronbach’s alpha, while Table 3 outlines the reliability statistics following necessary modifications The Cronbach’s alpha results from Table 3 were utilized for subsequent data analysis steps.

The reliability of the Entrepreneurial Intention (EI) scale, which includes three items (EI1, EI2, and EI3), is confirmed by a Cronbach’s Alpha of 0.802, exceeding the acceptable threshold of 0.6 Additionally, the Corrected Item-Total Correlation for all three items is greater than 0.4, indicating that EI1, EI2, and EI3 are strong components of the EI summated scale Therefore, these items should be retained for subsequent exploratory factor analysis (EFA).

The reliability of the AT scale was confirmed with a Cronbach’s Alpha of 0.833, exceeding the acceptable threshold of 0.6 for exploratory factor analysis (EFA) Among the five items, AT2, AT3, AT4, and AT5 demonstrated a Corrected Item-Total Correlation greater than 0.4, while AT1 had a correlation of only 0.34, indicating it should be excluded After removing AT1, the Cronbach’s Alpha rose significantly to 0.881, indicating that the remaining items—AT2, AT3, AT4, and AT5—constitute a more reliable scale suitable for further EFA.

The reliability of the SN scale was initially measured with a Cronbach’s Alpha of 0.794, exceeding the acceptable threshold of 0.6, and all items demonstrated a Corrected Item-Total Correlation above 0.4 However, to improve the scale's reliability, items SN4 and SN5 were removed Following this adjustment, the results indicated a significant increase in reliability, with Cronbach’s Alpha rising to 0.826, allowing the remaining items to be accepted for exploratory factor analysis (EFA).

The reliability of the PB scale was confirmed through Cronbach’s Alpha and Corrected Item-Total Correlation, meeting the necessary standards However, to enhance the scale's reliability, the item with the lowest correlation, PB4, was removed The remaining items were subsequently approved for exploratory factor analysis (EFA).

Reliability of P scale The P scale included 17 items with Cronbach’s Alpha

The initial scale demonstrated a reliability coefficient of 0.876, which is considered acceptable Due to the scale's complexity with 17 items, it was essential to evaluate the Corrected Item-Total Correlation alongside the Alpha value Consequently, items with a correlation below 0.5 (specifically P3, P6, P7, and P17) were excluded Following these adjustments, the reliability of the P scale slightly decreased to 0.884, while the correlation of the remaining items showed an upward trend, leading to their acceptance for further exploratory factor analysis (EFA).

Summary of Interpretation of Reliability Measurement To assess whether the items in each scale form a reliable scale, Cronbach’s alpha was computed

The alphas for all scales ranged from 0.8 to 0.9, demonstrating strong internal consistency reliability, as most items within each scale exhibited correlations of 0.50 and above.

Scale Cronbach’s Alpha No of items Remaining variables

EI1, EI2, EI3 AT2, AT3, AT4, AT5 SN1, SN2, SN3 PB1, PB2, PB3

Figure 4.1 Cronbach’s Alpha of remaining variables

The exploratory factor analysis (EFA) for the dependent factor (EI) demonstrated robust results, with a Kaiser-Meyer-Olkin (KMO) measure exceeding 0.7, indicating adequate sample size for each factor Additionally, Bartlett's Test of Sphericity yielded significant results (p < 0.05), confirming that the correlation matrix differed significantly from an identity matrix, thus validating the inter-correlations among variables The dependent factor (EI) also exhibited Eigenvalues greater than 1.0, suggesting substantial explained variance, while the cumulative percentage of variance explained reached 72.104%.

Component Initial Eigenvalues Extraction Sums of Squared

Figure 4.2 KMO and Bartlett’s Test of Dependent Factor (EI) and Total

Variance Explained of Dependent Factor

Kaiser-Meyer-Olkin Measure of Sampling

The exploratory factor analysis (EFA) was conducted to identify independent factors, concluding after the removal of items P10, P16, and P4 due to their factor loadings falling below 0.5 While the overall factor structure remained largely unchanged, P4 emerged as significantly related to the "perceived behavioral control towards entrepreneurial intention" factor, despite its original intent to measure "proactive personality." The rationale for retaining P4 lies in its thematic alignment with the perceived behavioral scale, as it reflects an individual's strong desire for constructive change, akin to the entrepreneurial mindset of seeking better business practices However, P4's correlation (0.514) with the perceived behavioral scale was notably lower compared to other items (PB1, PB2, PB3), which exceeded 7.0, indicating a weaker relationship Furthermore, excluding P4 from factor analysis increased the cumulative variance from 59.504% to 60.488%, suggesting its removal was warranted, as illustrated in Figure 4.3.

P12 If I believe in an idea, no obstacle will prevent me from making it happen

P8 No matter what the odds, if I believe in something I will make it happen

P11 I am always looking for better ways to do things .677

P13 I love to challenge the 676 status quo

P5 I enjoy facing and overcoming obstacles to my ideas

P1 I am constantly on the lookout for new ways to improve my life

P9 I love being a champion for my ideas, even against others' opposition

P2 I feel driven to make a difference in my community, and maybe the world

P15 I am great at turning problems into opportunities

AT4 Being an entrepreneur would give me great satisfaction

AT3 If I had the opportunity and resources, I would love to start a business

I would rather be an entrepreneur

AT2 A career as an entrepreneur is attractive for me

PB3 There are very few circumstances outside my control that may prevent me from becoming an entrepreneur

PB1 If I wanted to, I could easily become an entrepreneur

PB2 As an entrepreneur, I would have sufficient control over my business

P4 Wherever I have been, I 514 have been a powerful force for constructive change

SN1 My closest family members think that I should pursue a career as an entrepreneur

SN2 My closest friends think that I should pursue a career as an entrepreneur

SN3 People that are important to me think that I should pursue a career as an entrepreneur

P12 If I believe in an idea, no obstacle will prevent me from making it happen

P8 No matter what the odds, if I believe in something I will make it happen

P14 When I have a problem, I tackle it head-on

P11 I am always looking for better ways to do things

P13 I love to challenge the status quo .673

P5 I enjoy facing and overcoming obstacles to my ideas

P1 I am constantly on the lookout for new ways to improve my life

P9 I love being a champion for my ideas, even against others' opposition

P2 I feel driven to make a difference in my community, and maybe the world

P15 I am great at turning problems into opportunities

AT4 Being an entrepreneur would give me great satisfaction

AT3 If I had the opportunity and resources, I would love to start a business

AT5 Among various options, I would rather be an entrepreneur

AT2 A career as an entrepreneur is attractive for me

SN1 My closest family members think that I should pursue a career as an entrepreneur

There are very few circumstances outside my control that may prevent me from becoming an entrepreneur

SN2 My closest friends think that I should pursue a career as an entrepreneur

SN3 People that are important to me think that I should pursue a career as an entrepreneur

PB3 There are very few circumstances outside 818 prevent me from becoming an entrepreneur

PB1 If I wanted to, I could easily become an entrepreneur

PB2 As an entrepreneur, I would have sufficient control over my business

Figure 4.4 demonstrates the distribution of variance across 21 potential factors, revealing that only four factors possess eigenvalues exceeding 1.0 This finding supports the initial hypotheses regarding the factor structure Additionally, the cumulative percentage of explained variance underscores the significance of these factors in the analysis.

Kaiser-Meyer-Olkin Measure of Sampling Adequacy 0.899

Bartlett's Test of Sphericity Approx Chi-Square 3506.411 df 190

Initial Eigenvalues Extraction Sums of Squared

Rotation Sum of Square Loadings

Total % of Variance Cumulative % Total % of Variance Cumulative % Total % of Variance Cumulative %

Figure 4.4 KMO and Bartlett’s Test of Dependent Factor (EI) and Total

Variance Explained of Independent Factor

Multiple Linear Regression

Following the evaluation of the measurement scale's reliability and validity, multiple linear regression analysis was employed to examine the correlations, test hypotheses, and determine the impact of each independent factor on the dependent variable The findings from the multiple linear regression analysis are illustrated in Figure 4.5 below.

F_EI F_AT F_SN F_PB F_P Pearson

F_EI 1.000 F_AT 640 1.000 F_SN 469 470 1.000 F_PB 302 352 371 1.000 F_P 512 546 399 390 1.000 Sig (1-tailed) F_EI 000 000 000 000

Std Error of the Estimate

Sum of Squares df Mean Square F Sig

Figure 4.5 Multiple linear regression 4.3.1 Test of assumptions

In Appendix C, the test of assumptions confirmed a linear relationship between independent and dependent variables, the absence of multicollinearity among independent variables, and the normality of residuals The analysis involved two stages for identifying multicollinearity, including the inspection of correlation coefficients and Tolerance/VIF values, which showed that all variance inflation factors (VIF) were below 10, and all correlation coefficients were under 0.8 and not at 0.5 Additionally, all tolerance values exceeded (1-R²), indicating they were acceptable Consequently, the assumptions were satisfied, allowing for the subsequent step of multiple linear regression.

The ANOVA table revealed a significant F value of 260, indicating that the combination of predictors effectively predicts entrepreneurial intention Davis (1971) categorizes correlations from moderate (0.3-0.49) to substantial (0.5-0.69) The correlation table demonstrates that each predictor is correlated with the dependent variable while also confirming the absence of multicollinearity among the predictors.

The Model Summary table revealed a multiple correlation coefficient (R) of 0.69, with an R² of 0.47 and an adjusted R² of 0.47 This indicates that 47% of the variance in entrepreneurial intent can be predicted by factors such as attitude, social norms, perceived behavioral control toward entrepreneurship, and an individual’s proactive personality Furthermore, the adjusted R² exceeding 0.4 demonstrates that the proposed model effectively explains the independent factors influencing entrepreneurial intent.

The Coefficient table presented standardized beta coefficients, interpreted similarly to correlation coefficients, to predict entrepreneurial intent based on independent variables The t value and significance (Sig) indicated the contribution of each variable to the prediction equation Among the predictors, F_AT, F_SN, and F_P significantly enhanced the prediction of entrepreneurial intent, while F_PB, despite showing a moderate association and a tolerance value exceeding (1-R²), did not contribute to the multiple regression model Consequently, with a Sig greater than 5%, the hypothesis stating a positive relationship between perceived behavioral control and entrepreneurial intent was deemed insignificant and should be excluded from the regression equation The outcomes of the supportive hypotheses were derived from multiple linear regression analyses.

• H1: There is a positive relationship between attitude toward entrepreneurship and entrepreneurial intent

• H2: There is a positive relationship between social norms toward entrepreneurship and entrepreneurial intent

• H4: The extent to which people possess a proactive personality will be positively associated with entrepreneurial intent

The analysis indicates that among the independent variables influencing entrepreneurial intent, attitude toward entrepreneurship (AT) has the highest contribution, followed by proactive personality (P), while social norms toward entrepreneurship (SN) contribute the least Research into the antecedents of entrepreneurial intent remains ongoing, revealing a positive relationship between attitude, proactive personality, and entrepreneurial intent, whereas the relationship with social norms and perceived behavioral control can vary For example, Alfonso and Cuevas (2012) found that higher attitudes toward entrepreneurial behavior and stronger perceived self-efficacy correlate with increased entrepreneurial intent among Latin Americans However, their study also identified a significant negative relationship between the perception of social value and entrepreneurial intent, challenging findings from most existing entrepreneurial intention models.

Research by Prabhu et al (2011) and earlier studies from 1999 demonstrate a positive correlation between proactive personality traits and entrepreneurial intent This finding paves the way for future investigations aimed at understanding the underlying reasons for this relationship.

Summary of research finding

This study aims to assess how well the antecedent variables from Ajzen’s model of planned behavior and Batteman and Crant's concept of proactive personality can predict entrepreneurial intent in Vietnam Building on previous research about the impact of attitude, social norms, and perceived behavioral control on entrepreneurship, as well as the relationship between proactive personality and entrepreneurial intent, the findings of this analysis are presented below.

5.1.1 The application of Ajzen’s planned behavior model on entrepreneurial intent in Vietnam’s context

In the study examining entrepreneurial intent in twelve countries (Engle et al.,

Research indicates that attitude is a significant predictor of entrepreneurial intent in six countries: China, Finland, Ghana, Russia, Sweden, and the USA Numerous studies have confirmed a positive relationship between attitude and entrepreneurial intent, highlighting attitude as a key influence on the desire to start a new business For instance, Kivela (2002) found that most students hold positive attitudes towards entrepreneurship, largely due to their admiration for entrepreneurs who play vital roles in society.

As tested in previous chapter, the testing hypothesis’s result of this paper conform the application of the construct in Vietnam market, where entrepreneurial activities are more eventful than ever

The role of social norms in influencing entrepreneurial intent remains a subject of debate across the country This research builds on previous studies utilizing the planned behavior model, contrasting with Kruerger et al (2000), who found no connection between social norms and the entrepreneurial intentions of senior university students Our study reveals that 32.5% of participants have family members or friends who own businesses, suggesting that these close relationships can inspire entrepreneurial aspirations Role models significantly impact entrepreneurial intent, as individuals often emulate the behaviors of those closest to them, who can provide encouragement and support In Vietnam, the education system and family culture emphasize following safe paths, often guided by the experiences of elders and societal expectations Consequently, business students are more likely to pursue new ventures when they receive support from family, friends, or mentors, reinforcing the influence of social norms on entrepreneurial intent.

The application of the planned behavior model in Vietnam reveals that while attitude and social norms are relevant, the variable of "perceived behavioral control toward entrepreneurship" functions differently Unlike findings in seven other countries where self-efficacy is a strong predictor of entrepreneurial intent, Vietnamese business students exhibit low self-efficacy scores, hindering their confidence and ability to start new ventures Despite a moderate correlation between self-efficacy and entrepreneurial intent, the lack of soft skills and practical experience among these students contributes to emotional barriers that impede their entrepreneurial aspirations.

5.1.2 The application of proactive personality construct (Crant, 1993) in Vietnam market

The introduction of the proactive personality construct by Crant (1993) has paved the way for exploring its positive correlation with entrepreneurship among undergraduate and MBA students (Crant, 1996) However, limited research has focused on proactive personality as a predictor of entrepreneurial intent among business students in Vietnam, making this study's findings particularly valuable Consistent with previous research, these findings highlight proactive personality as a crucial factor in fostering the initiative to establish new businesses (Crant, 1996; Becherer & Maurer, 1999; Crant, 2000) Becherer and Maurer (1999) indicate that a proactive individual tends to enhance a company's entrepreneurial posture and positively influence sales by actively shaping the business environment Consequently, business students exhibiting a strong proactive personality are not only inclined to launch new ventures but are also likely to engage in multiple entrepreneurial endeavors, reflecting an assertive approach to their surroundings.

An individual's attitude towards starting a new business significantly influences their entrepreneurial intent, particularly when they have a proactive personality and receive support from key figures in their life Conversely, a lack of confidence in their abilities and skills can hinder their willingness to think creatively and pursue entrepreneurial opportunities.

Managerial implications

Entrepreneurship is a planned behavior, making it essential to explore intention models and personality traits that influence entrepreneurial intent Understanding the cognitive processes involved is crucial, as it can enhance entrepreneurial self-efficacy through targeted teaching and training Additionally, intent serves as a planning process, aiding individuals in generating business ideas and implementing them effectively, as well as developing exit strategies Individuals with a proactive personality are more likely to engage in entrepreneurial activities and become nascent entrepreneurs due to their ability to challenge the status quo and manage change However, they require appropriate education and training to equip themselves with the necessary tools to overcome obstacles in establishing their own businesses.

Entrepreneurs are shaped by both inherent traits and learned skills, and educators can enhance training by leveraging this duality Business students must integrate their natural abilities with skills that can be developed through education and experience Higher education institutions play a vital role in fostering entrepreneurship by offering practical, engaging programs that immerse students in real-world experiences In Vietnam and abroad, universities are increasingly involving the business community through activities such as seminars, company visits, and practical workshops, which include professional skills like dining etiquette and networking Additionally, entrepreneur clubs with real-world advisors and hands-on learning approaches prepare students for the workforce and cultivate essential entrepreneurial attitudes.

Business students often exhibit low self-efficacy and prefer careers such as office work, perceiving entrepreneurship as a risky and competitive path This trend can be attributed to the inadequacy of entrepreneurship education in Vietnamese universities, which tends to emphasize theory over practical experience To enhance entrepreneurial self-efficacy and interest, targeted intervention programs are essential, including soft-skill training in areas such as leadership, critical thinking, negotiation, and networking, as well as practical business skills like golf basics and professional etiquette Additionally, promoting a positive image of entrepreneurship through success stories of notable Vietnamese entrepreneurs and peers who have launched businesses while studying can inspire students Collaborating with universities to create incubators for student entrepreneurship is a practical approach to fostering a culture of innovation and enterprise.

The findings are crucial for consultants, advisors, managers, and entrepreneurs, as they shed light on the cognitive processes and personality traits that influence how entrepreneurs form intentions Understanding the interplay of founders' beliefs, perceptions, and motives can enhance practitioners' insights into the intent to launch a business (Krueger et al., 2000).

5.2.4 Implications for Public policy makers

Vietnam is emerging as a prime destination for entrepreneurship, attracting individuals with financial resources to start their own businesses This trend raises questions about the government's ability to effectively manage and support these budding entrepreneurs To foster a thriving entrepreneurial ecosystem, policymakers should align regulations with the needs of nascent entrepreneurs, creating an environment that nurtures growth and development Initiatives could include supporting university students, particularly in business disciplines, by promoting entrepreneurial skills and self-efficacy through licensed competitions and entrepreneurial clubs Additionally, establishing entrepreneurial funds and conducting professional assessments can enhance the success rates of new ventures, ultimately contributing to a robust startup culture in Vietnam.

Academic context plays a crucial role in shaping students' entrepreneurial intent, as universities can initiate and develop new business ventures that act as a catalyst for action (Ranke & Luthjie, 2004; Tung & Mui, 2011) To foster this entrepreneurial spirit, universities should offer courses in entrepreneurship and small business management, as well as create a dynamic learning environment with practical curricula and innovative campus settings An inspiring and knowledgeable approach to entrepreneurship education may significantly increase young people's interest in pursuing entrepreneurial careers Successful implementation of these initiatives could lead to greater involvement in entrepreneurship among business students in Vietnam, similar to findings by Clark et al (1984), which indicated that nearly 80% of students in an introductory entrepreneurship course at a medium-sized American university considered starting their own business, with 76% attributing their decision to the course's strong influence (Tung & Mui, 2011).

Limitation and further research direction

This research has several limitations that should be acknowledged The sample consists solely of business students from various levels of education (Diploma, Bachelor, MBA) at business-focused institutions, which limits the applicability of the findings to non-business student populations Additionally, the data was collected from local and international universities in Ho Chi Minh City, making it difficult to generalize the results to the entire country The majority of respondents are undergraduate students aged 16-23, raising questions about the durability and clarity of their entrepreneurial intentions While factors such as gender, education, and parental entrepreneurship have been recognized as predictors of entrepreneurial intent, this study introduces proactive personality as a subjective variable in the model Furthermore, due to time constraints, the researcher was unable to conduct follow-up questions to delve deeper into the perceived behavioral control's impact on entrepreneurship Future research can build on this study, aiming to address these limitations for more comprehensive insights.

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FACTORS AFFECTING ENTREPRENEURIAL INTENTION IN VIETNAM

Pham Nhat Vuong of Vingroup, Dang Le Nguyen Vu of Trung Nguyen, Le Phuoc Vu of Ton Hoa Sen, and Bau Duc of Hoang Anh Gia Lai are prominent figures from Vietnam's first entrepreneurial generation, inspiring a new wave of successful entrepreneurs This surge in entrepreneurial activity has significantly contributed to shaping Vietnam's economic landscape.

This research explores the cognitive processes that influence entrepreneurial intentions, highlighting the significance of teaching and managing entrepreneurial activities in Vietnam Participants in the questionnaire will gain valuable insights into their compatibility with an entrepreneurial career By completing the questionnaire objectively, individuals not only enhance their own understanding but also contribute significantly to the research findings.

This research defines individuals with "entrepreneurial intent" as those who aspire to launch a business venture and actively plan to do so in the future, even if they have not yet established a new business due to unforeseen circumstances The businesses in question are characterized by not being too small in scale, lacking low-skilled manufacturing, or failing to provide products or services in the market.

Please choose one number representing your level / level of agreement for each of below questions

1: Extremely low level 7: Extremely high level

Extremely low Very low Low Neutral High Very high Extremely high

EI1 To what extent have you considered starting your own business? 1 2 3 4 5 6 7

EI2 To what extent have you prepared to start your own business? 1 2 3 4 5 6 7

EI3 How likely is it that you are going to start your own business within the next five years? 1 2 3 4 5 6 7

Totally Disagree Slightly Neutral Slightly Agree Totally disagree disagree agree agree

Attitude towards entrepreneurial intention Level of agreement

AT1 Being an entrepreneur implies more advantages than disadvantages to me 1 2 3 4 5 6 7

AT2 A career as an entrepreneur is attractive for me 1 2 3 4 5 6 7

AT3 If I had the opportunity and resources, I would love to start a business 1 2 3 4 5 6 7

AT4 Being an entrepreneur would give me great satisfaction 1 2 3 4 5 6 7

AT5 Among various options, I would rather be an entrepreneur 1 2 3 4 5 6 7

Social Norms towards entrepreneurial intention Level of agreement

SN1 My closest family members think that I should pursue a career as an entrepreneur 1 2 3 4 5 6 7

SN2 My closest friends think that I should pursue a career as an entrepreneur 1 2 3 4 5 6 7

SN3 People that are important to me think that I should pursue a career as an entrepreneur 1 2 3 4 5 6 7

To what extent do 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 do you care about what your closest friends think as you decide on whether or not to pursue a career as 1 2 3 4 5 6 7

PB2 As an entrepreneur, I would have sufficient control over my business 1 2 3 4 5 6 7

PB3 There are very few circumstances outside my control that may prevent me from becoming an entrepreneur 1 2 3 4 5 6 7

PB4 It is entirely up to me whether or not I become an entrepreneur 1 2 3 4 5 6 7

Please choose one option for each question that best describes you

Proactive Personality Level of agreement

P1 I am constantly on the lookout for new ways to improve my life 1 2 3 4 5 6 7

P2 I feel driven to make a difference in my community, and maybe the world 1 2 3 4 5 6 7

P3 I tend to let others take the initiative to start new projects 1 2 3 4 5 6 7

P4 Wherever I have been, I have been a powerful force for constructive change 1 2 3 4 5 6 7

P5 I enjoy facing and overcoming obstacles to my ideas 1 2 3 4 5 6 7 P6 Nothing is more exciting than seeing my ideas turn into reality 1 2 3 4 5 6 7 P7 If I see something I do not like, I fix it 1 2 3 4 5 6 7 P8

No matter what the odds, if I believe in something I will make it happen 1 2 3 4 5 6 7

I love being a champion for my ideas, even against others' opposition 1 2 3 4 5 6 7

P10 I excel at identifying opportunities 1 2 3 4 5 6 7 P11 I am always looking for better ways to do things 1 2 3 4 5 6 7

P12 If I believe in an idea, no obstacle will prevent me from making it happen 1 2 3 4 5 6 7

P13 I love to challenge the status quo 1 2 3 4 5 6 7

I confront challenges directly and excel at transforming problems into valuable opportunities My ability to recognize potential long before others allows me to capitalize on advantageous situations Additionally, I am committed to assisting those in need whenever possible.

□ High school graduate or lower

4 After finishing current program, your degree is granted by:

□ White-collar worker - Management Level

□ White-collar worker - Staff Level

7 Besides your main occupation, do you now have your own business?

8 Do your closest family members have their own business?

9 Do your closet friends have their own business?

CÁC NHÂN TỐ ẢNH HƯỞNG ĐẾN Ý ĐỊNH KHỞI NGHIỆP KINH DOANH TẠI VIỆT NAM

Sau các gương mặt thành công thuộc thế hệ khởi nghiệp đầu tiên như Phạm Nhật Vượng -

Vingroup, Đặng Lê Nguyên Vũ với Trung Nguyên, Lê Phước Vũ của Tôn Hoa Sen, và Bầu Đức tại Hoàng Anh Gia Lai là những cái tên nổi bật trong câu chuyện khởi nghiệp tại Việt Nam, ngày càng thu hút sự chú ý của công chúng.

Khởi nghiệp kinh doanh đang phát triển mạnh mẽ và ngày càng trở thành một yếu tố quan trọng trong nền kinh tế Việt Nam.

Bài nghiên cứu khoa học này khám phá mối liên hệ giữa nhận thức và ý định khởi nghiệp, nhằm cung cấp cái nhìn mới về tầm quan trọng của giảng dạy và quản lý khởi nghiệp tại Việt Nam Tham gia khảo sát ngắn (5-7 phút) sẽ giúp bạn hiểu rõ hơn về sự phù hợp của bản thân với ý định khởi nghiệp, đồng thời đóng góp giá trị cho kết quả nghiên cứu.

Trong nghiên cứu này, "Ý định khởi nghiệp kinh doanh" được định nghĩa là những cá nhân có kế hoạch rõ ràng cho việc thành lập doanh nghiệp trong tương lai, mặc dù họ có thể gặp phải những trở ngại không lường trước Doanh nghiệp được đề cập không phải là những cơ sở nhỏ lẻ, sản xuất kém hoặc không cung cấp sản phẩm, dịch vụ ra thị trường.

Vui lòng chọn một con số biểu thị mức độ / mức độ đồng ý của Anh/Chị ứng với từng câu hỏi dưới đây

1: Cực kì thấp 7: Cực kì cao

Cực kì thấp Rất thấp Thấp Trung hòa Cao Rất cao Cực kì cao Ý định khởi nghiệp kinh doanh Mức độ đồng ý

EI1 Anh/Chị cân nhắc về việc khởi nghiệp kinh doanh đến mức nào? 1 2 3 4 5 6 7

EI2 Anh/Chị đã chuẩn bị cho việc khởi nghiệp kinh doanh đến mức nào?

EI3 Có khả năng Anh/Chị sẽ khởi nghiệp kinh doanh trong vòng

1: Hoàn toàn phản đối 7: Hoàn toàn đồng ý

Hoàn toàn Phản đối Phản đối nhẹ Trung hòa Đồng ý nhẹ Đồng ý Hoàn toàn phản đối đồng ý

Thái độ đối với ý định khởi nghiệp Mức độ đồng ý

AT1 Việc khởi nghiệp đem đến cho tôi nhiều thuận lợi hơn bất lợi 1 2 3 4 5 6 7

AT2 Tôi thực sự hứng thú đối việc khởi nghiệp kinh doanh 1 2 3 4 5 6 7

AT3 Nếu có cơ hội và nguồn lực, tôi chắc chắn sẽ khởi nghiệp 1 2 3 4 5 6 7

AT4 Tôi thực sự rất hài lòng nếu được trở thành doanh nhân 1 2 3 4 5 6 7

AT5 Giữa nhiều lựa chọn nghề nghiệp, tôi thích trở thành doanh nhân hơn 1 2 3 4 5 6 7 Ảnh hưởng yếu tố xã hội đối với ý định khởi nghiệp Mức độ đồng ý

SN1 Các thành viên gần gũi nhất trong gia đình khuyến khích tôi theo đuổi nghiệp kinh doanh 1 2 3 4 5 6 7

SN2 Những người bạn thân nhất khuyến khích tôi theo đuổi nghiệp kinh doanh 1 2 3 4 5 6 7

Những người quan trọng trong cuộc sống khuyến khích tôi theo đuổi nghiệp kinh doanh 1 2 3 4 5 6 7

Khi đối mặt với quyết định theo đuổi sự nghiệp kinh doanh, mức độ quan tâm của Anh/Chị đến ý kiến của các thành viên trong gia đình là rất quan trọng Sự hỗ trợ và quan điểm từ những người thân thiết có thể ảnh hưởng đáng kể đến lựa chọn của Anh/Chị trong hành trình khởi nghiệp.

SN5 Đứng trước quyết định có nên theo đuổi nghiệp kinh doanh hay không, Anh/Chị quan tâm đến ý kiến của những người bạn thân nhất đến mức nào?

Nhận thức kiểm soát hành vi đối với ý định khởi nghiệp Mức độ đồng ý

PB3 thành một doanh nhân 1 2 3 4 5 6 7

PB4 Tôi hoàn toàn tự quyết định việc bản thân mình sẽ thành doanh nhân hay không 1 2 3 4 5 6 7

Cá tính chủ động Mức độ đồng ý

P1 Tôi liên tục tìm kiếm những cách cải thiện cuộc sống của mình 1 2 3 4 5 6 7

P2 Ý nghĩ phải làm nên sự khác biệt trong cộng đồng và thế giới luôn thôi thúc trong tôi 1 2 3 4 5 6 7

P3 Tôi thường để người khác chủ động bắt đầu các kế hoạch mới 1 2 3 4 5 6 7

P4 Tôi có sức ảnh hưởng mạnh lên sự thay đổi mang tính xây dựng ở mọi nơi tôi đến 1 2 3 4 5 6 7

P5 Tôi thích đương đầu và vượt qua mọi trở ngại đối với các ý tưởng của mình 1 2 3 4 5 6 7

P6 Không gì thú vị bằng việc chứng kiến các ý tưởng của tôi trở thành hiện thực 1 2 3 4 5 6 7

P7 Nếu tôi thấy thứ gì mà tôi không thích, tôi sẽ sửa đổi nó 1 2 3 4 5 6 7

Dù các ý tưởng có khác thường thế nào đi nữa thì tôi vẫn sẽ hiện thực hóa chúng, miễn là tôi có niềm tin vào việc mình làm

Tôi kiên định bảo vệ quan điểm của mình dù gặp phải nhiều ý kiến trái chiều Tôi có khả năng xuất sắc trong việc nhận diện và tận dụng cơ hội Luôn tìm kiếm những phương pháp làm việc hiệu quả hơn là một trong những ưu tiên hàng đầu của tôi.

P12 Nếu tôi tin vào một ý tưởng, sẽ không có gì ngăn cản tôi thực hiện ý tưởng đó 1 2 3 4 5 6 7

Tôi không thích duy trì hiện trạng mà luôn tìm kiếm sự thay đổi Đối diện với khó khăn là cách tôi giải quyết vấn đề, và tôi có khả năng biến những thách thức thành cơ hội.

P16 Tôi có thể phát hiện một cơ hội tốt trước khi những người khác phát hiện ra 1 2 3 4 5 6 7

P17 Nếu biết ai đó đang gặp khó khăn, tôi sẽ giúp họ bằng mọi cách 1 2 3 4 5 6 7

PHẦN II: THÔNG TIN TỔNG QUÁT

Với mỗi câu hỏi, vui lòng chọn phương án phù hợp nhất với Anh/Chị

2 Xin vui lòng cho biết tuổi của Anh/Chị:

4 Bằng tốt nghiệp Anh/Chị nhận được sau khi tốt nghiệp được cấp bởi:

□ Trường đại học Việt Nam

□ Trường đại học nước ngoài

□ Trung tâm đào tạo ngắn hạn

5 Nghề nghiệp của Anh/Chị:

□ Sinh viên đại học, cao đẳng

□ Nhân viên văn phòng - Cấp quản lý

□ Nhân viên văn phòng - Cấp nhân viên

6 Xin vui lòng cho biết thu nhập hàng tháng của Anh/Chị:

□ Từ 5 triệu – dưới 10 triệu VNĐ/tháng

□ Từ 10 triệu – đến dưới 15 triệu VNĐ/tháng

□ Từ 15 triệu VNĐ/tháng trở lên

7 Ngoài công việc chính, Anh/Chị có đang kinh doanh không?

8 Các thành viên gần gũi nhất trong gia đình Anh/Chị có kinh doanh không?

9 Những người bạn thân nhất của Anh/Chị có kinh doanh không?

High school graduate or lower 47 11.9

White-collar worker -Management Level 27 6.8 White-collar worker - Staff Level 78 19.7

Scale Variance if Item Deleted

Cronbach's Alpha if Item Deleted

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

Scale Variance if Item Deleted

Cronbach's Alpha if Item Deleted