The Impact of Entrepreneurial Self-Efficacy on the Entrepreneurial Intention of University Students: The Moderating Effect of Regulatory Focus

대학생의 창업효능감이 창업의지에 미치는 영향: 조절초점의 조절효과를 중심으로

  • Park, Jae Whan (School of Business Administration, Chung-Ang University) ;
  • Choi, Min Jung (Department of Entrepreneurship, Chung-Ang University)
  • Received : 2016.02.15
  • Accepted : 2016.04.19
  • Published : 2016.04.30

Abstract

The purpose of this paper is to examine the effect of entrepreneurial self-efficacy on entrepreneurial intention. Further, the paper aims to study the moderating effect of regulatory focus in the relationship between entrepreneurial self-efficacy and entrepreneurial intention. As per regulatory focus theory, individuals have different goal attainment approaches and underlying motivations; this posits two distinct orientations: promotion focus and prevention focus. Consequently, we hypothesize that the effect of entrepreneurial self-efficacy on entrepreneurial intention would differ depending on the individual's regulatory focus, either promotion or prevention. In order to test the hypotheses, we select a random sample of 494 entrepreneurship students at six universities across the country. The analysis includes a survey of 309 students. The results indicate that students' entrepreneurial self-efficacy has a positive effect on their intention to become entrepreneurs. Further, regulatory focus moderates the relationship between entrepreneurial self-efficacy and entrepreneurial intention. Specifically, the impact of entrepreneurial self-efficacy on entrepreneurial intention is greater in promotion-focused students than in prevention-focused students. The results highlight the need for education methodology that enhances students' entrepreneurial self-efficacy and specialized entrepreneurship education for prevention-focused students.

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