The role of contextual factors on predicting entrepreneurial intention among Vietnamese students

Abstract

Objective: The objective of the article is to explore the specific underlying mechanisms in which contextual factors are internalised into students’ cognitive process of entrepreneurship in Vietnam. Research Design & Methods: A quantitative study with a meta-analysis was conducted by utilising structural equation modelling (SEM). The sample consisted of 2218 final-year students from fourteen universities located in two major regions in Vietnam who were surveyed using stratified random sampling. Findings: Results revealed that social capital was not directly related to intention to become entrepreneurs, which had indirect and significant impact on start-up intention throughout attitude towards entrepreneurship, perceived behavioural control, and entrepreneurial self-efficacy. In addition, the regulatory dimension negatively affected entrepreneurial intention while the normative dimension positively promoted this intention. University education not only directly affected but also indirectly influenced entrepreneurial intention via antecedents of the theory of planned behaviour. The research also showed the mediating role of attitude towards entrepreneurship, perceived behavioural control, and entrepreneurial self-efficacy between contextual factors and entrepreneurial intention among Vietnamese students. Implications & Recommendations: The study has several implications and practical recommendations for universities and policymakers in boosting business venturing activities among college students. Contribution & Value Added: The empirical evidence of the research supported the theoretical arguments, which specified the detailed mechanisms that contextual factors affect the cognitive process of business venture.