The Interplay between the Psychological Factors and Entrepreneurial Intention: An Empirical Investigation

Abstract

The domain of entrepreneurship has been dotted across various paradigms. Identifying and examining entrepreneurial intention and propensity to it spontaneously require the insight from the lens of psychological approach. The aim of this study is to examine the influence and impact of psychological factors on entrepreneurial intention; as it is found that in Bangladeshi context several entrepreneurship studies are undertaken, still the exploratory research on interplay between the psychological factors (i.e., self-confidence, locus of control, need for achievement, and tolerance for ambiguity) and entrepreneurial intention has been merely found. The study has chosen Bangladeshi university students as the unit of analysis and the ultimate sample size in this research is n=265. The current paper is a quantitative study where sampling method is followed by convenience sampling technique, and study data is collected through survey questionnaire. Data has been compiled into SPSS whereas, for hypotheses assessment, Smart PLS software is applied. The results reflect that self-confidence, locus of control, and need for achievement are revealed as contributory determinants of entrepreneurial intention while tolerance for ambiguity is found as an insignificant predictor. The current research is expected to offer an in-depth understanding about the significance of psychological factors in examining entrepreneurial intention.