Role of entrepreneurial competence, entrepreneurial education, family support and entrepreneurship policy in forming entrepreneurial intention and entrepreneurial decision

Quang Hieu Le; Nguyen Thi Loan Article Role of entrepreneurial competence, entrepreneurial education, family support and entrepreneurship policy in forming entrepreneurial intention and entrepreneurial decision Pakistan Journal of Commerce and Social Sciences (PJCSS) Provided in Cooperation with: Johar Education Society, Pakistan (JESPK) Suggested Citation: Quang Hieu Le; Nguyen Thi Loan (2022) : Role of entrepreneurial competence, entrepreneurial education, family support and entrepreneurship policy in forming entrepreneurial intention and entrepreneurial decision, Pakistan Journal of Commerce and Social Sciences (PJCSS), ISSN 2309-8619, Johar Education Society, Pakistan (JESPK), Lahore, Vol. 16, Iss. 1, pp. 204-221 This Version is available at: https://hdl.handle.net/10419/261310 Standard-Nutzungsbedingungen: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden. 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If the documents have been made available under an Open Content Licence (especially Creative Commons Licences), you may exercise further usage rights as specified in the indicated licence. https://creativecommons.org/licenses/by-nc/4.0/ Pakistan Journal of Commerce and Social Sciences 2022, Vol. 16 (1), 204-221 Pak J Commer Soc Sci Role of Entrepreneurial Competence, Entrepreneurial Education, Family Support and Entrepreneurship Policy in Forming Entrepreneurial Intention and Entrepreneurial Decision Le Quang Hieu Hong Duc University, No. 565 Quang Trung, Dong Ve, Thanh Hoa, Vietnam Email: [email protected] Nguyen Thi Loan (Corresponding author) Hong Duc University, No. 565 Quang Trung, Dong Ve, Thanh Hoa, Vietnam Email: [email protected] Article History Received: 12 Feb 2022 Revised: 22 Mar 2022 Accepted: 26 Mar 2022 Published: 31 Mar 2022 Abstract This study proposes specific solutions to promote entrepreneurial intention and encourages converting entrepreneurial intention into entrepreneurial decisions in the future. In recent years in Vietnam, many studies have been conducted to find solutions to promote, encourage, and motivate young people in general and students, in particular, to participate in entrepreneurship to meet up the goal of 2.0 million enterprises by 2030 as a driving force to promote economic development. For the same purpose, the paper uses AMOS software with the SEM structure model and a sample size of 432 graduated students in business, financial and technical universities in Vietnam to clarify the relationship between the factors of entrepreneurial competence and education, family support, and entrepreneurship policy on the process of forming the entrepreneurial intention and entrepreneurial decision. The study concludes that entrepreneurial competence, entrepreneurial education, and family support have positive effect on entrepreneurial intention and finally entrepreneurial intention has a positive effect on entrepreneurial decision. Keywords: entrepreneurial competence, entrepreneurial education, family support, entrepreneurial policy, entrepreneurial intention, entrepreneurial decision, family background. 1. Introduction Promoting entrepreneurial intention (EI) and entrepreneurial decision (ED) play a vital role in enhancing the country's entrepreneurship and economic development. In the literature, EI and ED have been mentioned by many scholars, starting with the article by Shapero & Sokol (1982), then many other studies continued to be conducted, especially within the last 10 years (Rasool et al., 2018). Research on EI is approached in many different ways such Hieu & Loan 205 as: research on factors that directly affect EI is done by (Turker & Selcuk, 2009), (Koe et al., 2012), (Denanyoh et al., 2015); examine the relationship between Entrepreneurship Education (EE) and EI made by (Arranz et al., 2017; Bae et al., 2014; Peltonen, 2015); a study of the relationship between family beliefs, motivation and support with EI was done by (Altinay et al., 2012), (Tsai et al, 2016), (Odoardi et al., 2018) or the relationship between personal characteristics and EI (Molino et al., 2018), (Hueso et al., 2021). On the other hand, many studies have been conducted to examine the impact of supporting elements , for example, policies, support from relatives and family, and the business environment for startup (Altinay et al., 2012; Molino et al., 2018). In addition to the studies of influencing factors and the relationship in EI and ED, there are also many overview studies on EI and ED which are carried out according to the systematic literature review method (Hueso et al., 2021) to summarize and make specific comments on the approaches of the studies before as a basis for inheritance and future research development. One of the common points of most research on EI and ED is that most of the research is conducted on students at some universities in Turkey (Turker & Selcuk, 2009), in Malaysia, Gana, Afghanistan (Bullough et al., 2014; Denanyoh et al., 2015; Koe et al., 2012; Mamun et al., 2017), or a large-scale study of university students from European countries (Arranz et al., 2017; Gasse & Tremblay, 2011). Thus, the approach to EI and ED research is very diverse and is conducted in most countries around the world or with transnational cooperation. In terms of research approaches, most of the studies use mixed methods in which the main tendency is to build models and test the relationships and impacts of individual and environmental factors, education and training, trust to EI (Liñán & Fayolle, 2015; Rasool et al., 2018). Some studies in recent years using SEM structure model with the presence of intermediate variables, control variables and regulatory variables such as gender, (Molino et al., 2018) or family support (Odoardi et al., 2018), or others experience, social situation, and creativity (Bellò et al., 2018; Koe et al., 2012) in considering the impact on EI and ED. The reason EI and ED are of great interest is because EI and ED play a very important role, a prerequisite for business creation, while enterprises as force for economy of each country. Therefore, research on EI and ED is also conducted with the aim of helping to detect support and recommend policies and strategies at the national macro level to support the best environment for EI and ED development (Bae et al., 2014) or propose solutions to support education, training, self-confidence and creativity to promote EI, ED among young people, especially students (Denanyoh et al., 2015; Hassan et al., 2021; Mamun et al., 2016; Turker & Selcuk, 2009). Also, Nam & Huy, (2021) mentioned roles of young generation and minorities for start-ups. Recent years, in Vietnam, start-up in general and start-up among students is a topic of interest not only by researchers but also as a major policy of the government. Specifically, 2016 was selected as the "National Start-up Year ", on October 30, 2017, the Prime Minister signed Decision No. 1665/QĐ-TTg about the approval “Supporting students to start a business until 2025” project, since then, start-up activities have grown strongly with impressive numbers. Every year, over 110.000 businesses are established and operated, bringing the total number of businesses to more than 800.000 by 2021 (Ministry of Planning and Investment, 2021). Having that success is the effort of a process of Entrepreneurial Competence, Education, Entrepreneurial Intention and Decision 206 implementing programs and policies to support as well as create the best environment for Start-up (Nam & Huy, 2021). One of those activities is to form and develop a system of Business Incubators right in universities, which is expected to encourage the formation of ideas, entrepreneurship intention and achieve successful startups. However, not many studies so far analyzing relationship between EI and BI as well as considering the overall relationship between training activities; start-up capacity; environment and policies to support start-ups with the formation of students' EI and ED intentions after graduation. In addition, studies on the relationship between EI and ED, the determinants of ED, are also rarely conducted, so there are certain gaps that need to be studied to improve the theory as well as propose policies to increase entrepreneurial performance. This study will focus on clarifying the relationship between the factors of entrepreneurial competence, Entrepreneurial education, family support, and start-up support environment to the formation of EI and ED. Then, the study examines the relationship between EI and ED under the regulation of family background - this is a prerequisite factor in the orientation of entrepreneurial education effectively in students, thereby proposing specific solutions to promote EI as well as encourage the transition of EI to ED in the future. 2. Literature Review and Hypotheses Development 2.1 Entrepreneurial Competence Entrepreneur competence (EC) is ability (total) of an individual to be successful in entrepreneurship (Man et al., 2002). EC is an important factor to form, develop and succeed business, it has a great impact on EI formation and ED (Mitchelmore & Rowley, 2010). EC includes many components, including knowledge, motivation, skills, vision and responsibility, which are factors that help maintain and develop a business (Thuy & Loan, 2019). Man et al., (2002) researched and proposed 6 factors constituting entrepreneurial capacity, and influence students' entrepreneurial intention formation. Inheriting and promoting the research of Man et al., (2002), a study of Mamun et al., (2016) once again confirms the role of EC on students in Malaysia. Research results show that all 6 factors affect EI, which have the strongest influence. Particularly, the information-seeking competencies factor has a positive impact on the search for ideas on job opportunities for comparison, assessment, and career orientation as well as startup activities. According to research by (Baron & Ensley, 2006) identifying opportunities and finding information helps students practice skills and improve self-awareness of responsibility in choosing a career or forming EI. The study of (Hassan et al., 2021) also confirmed once again the important role of competence (including knowledge, skills, attitudes) on the process of forming EI of students and youth. ➢ H1a: EC affects (positively) on students' EI after graduation. ➢ H1b: EC has a positive effect on students' ED after graduation. 2.2 Entrepreneurial (Entre.) Education (EE) Entre. Education (EE) has long been proven to have a decisive impact relationship, is the driving force of EI (Khan et al., 2020), the results brought by EE will be much and lasting during idea formation, EI and ED, operating the business (Dao et al., 2021; Henderson & Robertson, 1999). Liñán et al., (2011) also showed that EE has a direct relationship with Hieu & Loan 207 the attitude, intention and operating process of the startup or in other words education has a causal relationship with intention and ED. The same view Bae et al., (2014), Anwar & Saleem, (2019) is based on the Theory of human capital proving the relationship of EE and EI, SD. Specifically, through school training or self-training, supporting corporate governance, thereby forming the basic conditions to form EI and move forward ED. In another study with TPB further demonstrated that education is considered as a motivating factor promoting the process of forming intentions and deciding to start a business (Hoang & Huy, 2021; Liñán & Fayolle, 2015; Lv et al., 2021; Nguyen et al., 2019) Leung et al., (2012) compare students with entrepreneurship training and without training to see that the role of training with effect (significant) on students’ entrepreneurship mind. Souitaris et al. (2007) experimentally compared there is a non-zero difference (>0) in students' ability and EI before and after entrepreneurship education; specifically, after training, students have clearer, more stable EI than before. Also, related to entrepreneurship training Arranz et al., (2017) and Lv et al., (2021) there is a specific approach to the influence of the main and extracurricular training program on EI, the research shows relationship (positive) between training program content and EI. In Vietnam, the Ministry of Education and Training encourages schools to actively include business start-up modules in training programs or integrate other courses. The content of entrepreneurship training is included in the formal training process and is being evaluated as having a positive impact on the students' entrepreneurship process, so the following hypothesis is formulated: ➢ H2a: EE having effect (positively) on students' EI after graduation. ➢ H2b: EE having effect (positively) on students' ED after graduation. 2.3 Entrepreneurship Policy (ES) Entrepreneurship policy (ES) is understood in many different ways, from the macro environment to the micro environment that all have an impact on supporting the entrepreneurship process (Mamun et al., 2017), and the impact of the cultural environment on entrepreneurship (Gasse & Tremblay, 2011). Research by Denanyoh et al., (2015) and Turker & Selcuk, (2009) considers the startup support environment to be the support of infrastructure for startups or the support of capital, information and networking (Huang et al., 2021; Kristiasen & Indarti, 2004). The start-up support environment is researched and proven to have a positive impact and a decisive factor on EI (Denanyoh et al., 2015; Mamun et al., 2017; Turker & Selcuk, 2009). According to TPB, if an individual perceives a good and favorable start-up support environment such as easy access to capital, information and infrastructure, it will easily generate business intentions (Huang et al., 2021). Especially in a difficult period due to the negative impact of the pandemic and the current increase in unemployment, the supportive impact of the environment is more sensitive in encouraging the formation of entrepreneurial intentions (Nguyen et al., 2019). In this study, the ES will be considered as a whole from macro to micro and the component unit level that affects both EI and ED of students. ➢ H3a: ES has a positive effect on students' EI after graduation. ➢ H3b: ES has a positive effect on students' ED after graduation. Entrepreneurial Competence, Education, Entrepreneurial Intention and Decision 208 2.4 Family Support (FS) For any individual when starting a business, it is also necessary to prepare certain psychology to cope with difficulties and challenges. Besides, if they have more support from their family, they will be more confident and braver to overcome challenges and move forward in business growth. Support from family can be encouragement, motivation and passion for them to strive to achieve their goals (Mamun et al., 2017). For those who grow up in good business families, their parents will become role models for them to aim for EI (Denanyoh et al., 2015). In addition to the support of family, friends and relatives also having vital role in motivating them to form entrepreneurial intentions. Specifically they need help with information, finance, advice or sympathy from acquaintances to improve ideas or encourage them to continue their efforts (Turker & Selcuk, 2009). Family support has been studied as an independent variable with a direct impact on EI (Mamun et al., 2017; Turker & Selcuk, 2009). ➢ H4a: FS having effect (positively) on students' EI after graduation. ➢ H4b: FS having effect (positively) on students' ED after graduation. 2.5 Entrepreneurial Intention (EI) EI is understood as the activity towards an individual's decision to start a new business or wish to become an entrepreneur in the near future (Anwar & Saleem, 2019). EI is sometimes obvious but can also be latent, the strength or weakness of EI will determine the speed or slowness of the transition to ED, specifically, the stronger the EI, the sooner the formation of a business takes place (Liñán & Fayolle, 2015). EI is the second stage of the four steps of entrepreneurship and is affected by many internal and external factors, both objective and subjective (Denanyoh et al., 2015; Rasool et al., 2018). Specifically, EI is influenced by education (Turker & Selcuk, 2009). ➢ H5: EI having effect (positively) on students' ED after graduation. 2.6 Entrepreneurial Decision (ED) Entrepreneurial Decision is understood as an individual's decision to start a business. ED is vital for new startups (Liñán & Fayolle, 2015). For startup Entre. Decision is vital factor. The decision to start a business is the final step in an individual's entrepreneurial behavior and is recognized by the plans, financial and personnel preparation, and ideas to be ready for the development of the business model. The decision to start a business is influenced by the intention to start a business, the business environment and the support of objective and subjective factors. Hieu & Loan 209 2.7 Family Background (FB) Family Background shows model of members in family for children by creating an environment conductive to EI (Denanyoh et al., 2015; Gao et al., 2021). The same point of view, research by Chaudhary, (2017) confirms that the background of a self-employed family has a positive effect on an individual's business intentions, Dao et al., (2021) mentioned student startups affected by family. We get suggested hypothesis is: ➢ H6: FB of students has a moderating effect between EI and ED. Figure 1: Research Model 3. Research Methodology Based on the research model and objectives, the quantitative method used by the authors with convenient non-random sampling on a large scale at universities is suitable to answer the questions. This is a method that has been widely used in EI and ED research conducted by Turker & Selcuk, (2009), Bae et al., (2014) and Hassan et al., (2021). To achieve the research objectives, the AMOS software has been used to analyze the SEM structural model. 3.1 Sample and Data Collection Authors perform exploratory factor analysis (EFA) and confirmatory factor analysis (CFA) in SEM structure model, so it requires at least 05 -10 observations for 1 variable (Hair et al., 2019). From there to determine the appropriate sample size from 300 observations. The study uses cross-sectional data based on the survey of graduated students in economic and technical universities in Vietnam. The survey was conducted online through a Google Form from Sep 2021 to Jan 2022 of students from 15 universities in Thanh Hoa, Da Nang, Nghe An, Hanoi, and Ho Chi Minh City after graduating. As a result, 455 responses were Entrepreneurial Competencie Entrepreneurial Education Entrepreneurial Environmental Support Family Support Entrepreneurial Intention Entrepreneurial Decision Family Background Entrepreneurial Competence, Education, Entrepreneurial Intention and Decision 210 obtained, through screening 23 ineligible responses were removed, leaving 432 eligible responses for analysis. The questionnaire is with the five-point Likert scale of 1 to 5 points (strongly disagree, disagree, neutral, agree, and strongly agree). 3.2 Questionnaire Development The research model consisting of 6 factors EI, EE, FS, ES and EC, SD was selected and hypothesized about the relationships. From the results of theoretical analysis and research context, the authors adopt the scales of Kristiansen & Indarti (2004). Turker & Selcuk (2009), Mamun et al., (2016) and Hassan et al., (2021). A total of 32 questions were selected for inclusion in the study, which did not include descriptive statistical information on gender, education, and related personal information. Table 1: Summary of Items Code Item Source EC Entrepreneurial competencies Mamun et al., (2016) EC1 I can seek information to find out idea EC2 I can recognize opportunity among many situations EC3 I can know how to do work better than others EC4 I take risk in business EC5 I can create new things/look new ways from previous EE Entrepreneurial education Mamun et al., (2017) EE1 The education in university encourages me to develop creative ideas for being an entrepreneur EE2 My university provides the necessary knowledge about entrepreneurship EE3 My university develops my entrepreneurial skills and abilities EE4 My university develops my entrepreneurial attitude to take a business EE5 The education in university encourages me to develop creative ideas for being an entrepreneur ES Entrepreneurship policy Kristiansen & Indarti, (2004), Turker & Selcuk, (2009) Denanyoh et al, (2015), Mamun et al.,(2017) ES1 Vietnamese laws (rules and regulation) are adverse to running a business ES2 In Vietnam entrepreneurs are encouraged by a structural system including private, public, and non-governmental organization ES3 I have good social networks that can be utilised when I decide to be an entrepreneur. ES4 I have access to supporting information to start to be an entrepreneur ES5 There are sufficient government subsidies available for new and growing firms in my country ES6 There is sufficient funding available from development organizations in my country Hieu & Loan 211 ES7 New firms can get most of the required permits and licenses in about a week in my country ES8 Taxes and other regulations are applied to new and growing firms in a predictable and consistent way FS Family support Mamun et al., (2016), Turker & Selcuk, (2009) FS1 My parents influence me in pursuing a career in entrepreneurship FS2 Asisting my parents in business has increased my desire to be an entrepreneur FS3 If I decide to be an entrepreneur, my family members will support me FS4 If I decide to be an entrepreneur, my relatives will support me EI Entrepreneurial intention Lin and Chen, (2009), Mamun et al., (2017) EI1 Becoming entrepreneur, I make anything EI2 Be an entrepreneur is my professional goal EI3 Running own firm with my efforts EI4 Startup with serious thinking EI5 I have got the firm intention to start a firm someday EI6 An entrepreneur as my career chosen. ED Entrepreneurial decision Mamun et al., (2017) ED1 In startup I applied for job ED2 I have organized a startup team ED3 I have developed a product/service ED4 In startup I organize financing ED5 In business I contribute time (full) FB Family background (Focus on Public servants, businessmen, farmers) 4. Data Analysis and Findings 4.1 Reliability of the Scale In the first run of the Cronbach’s Alpha test, the Corrected Item – Total Correlations is larger after the EC3 variable is eliminated (0.862 > 0.795). Therefore, the author removes the EC3 variable and runs the test a second time with the following results: Entrepreneurial Competence, Education, Entrepreneurial Intention and Decision 218 REFERENCES Altinay, L., Madanoglu, M., Daniele, R., & Lashley, C. (2012). The influence of family tradition and psychological traits on entrepreneurial intention. International Journal of Hospitality Management, 31(2), 489–499. Anwar, I., & Saleem, I. (2019). 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