The Convergence of the Fourth Sector and Generation Z’s Biospheric Values: A Regional Empirical Case Study in Spain

Abstract

This study examines how Generation Z’s values align with entrepreneurial orientation in the Fourth Sector (FS), which merges public, private, and non-profit dynamics to balance financial sustainability with socio-environmental impact. Using Structural Equation Modeling with Partial Least Squares (SEM-PLS), we analyze the influence of economic–financial, biospheric, and altruistic values of the university students’ inclination toward entrepreneurship in the FS. The study draws on a convenience sample of 139 undergraduate students from the School of Economics and Business Sciences at the University of Extremadura, located in the Autonomous Community of Extremadura, Spain. Our findings reveal that economic–financial values are the strongest predictor, underscoring the enduring importance of financial viability in shaping entrepreneurial intent. Biospheric values also play a significant role, highlighting sustainability and environmental awareness as key motivators. While altruistic values exhibit a positive relationship with FS entrepreneurship, this effect is not statistically significant, indicating that Generation Z prioritizes economic and environmental considerations over pure altruism when engaging in this sector. These insights contribute to the understanding of how a group of university students from Generation Z approaches sustainable business models and provide strategic guidance for fostering entrepreneurship that effectively integrates financial sustainability with environmental responsibility. Specifically, Generation Z is expected to be particularly receptive to entrepreneurship initiatives focused on biodiversity conservation.