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Convergence and Contrast: An Investigation into the Psychological Attributes of Budding Entrepreneurs

Author

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  • Parwinder Singh

    (Indian Institute of Technology Ropar)

  • Ankita Mishra

    (Indian Institute of Technology Ropar)

Abstract

While promoting entrepreneurship to address unemployment among educated youth, states have predominantly emphasized physical resources, neglecting the crucial focus on psychological attributes, especially in India. Entrepreneurial intention (EI) is acknowledged as a vital psychological factor in entrepreneurial behavior, but previous research has primarily examined EI among students, leaving a gap in understanding its dynamics among a more relevant sample—entrepreneurs or aspiring entrepreneurs. Motivated by this gap, the present study explores the association of psychological attributes influencing EI in budding entrepreneurs and examines the differences in attributes between budding entrepreneurs and students not inclined towards entrepreneurship. This cross-sectional study included a sample of 83 budding entrepreneurs and 769 students (not inclined towards entrepreneurship) selected from various engineering colleges in Punjab, India. The study used standardized questionnaires to measure various attributes of interest such as EI, entrepreneurial self-efficacy (ESE), emotional intelligence, cognitive flexibility, internal locus of control, risk-propensity (RP), conscientiousness, and mindset. The collected data underwent analysis through correlation, t-tests, and regression analysis. The results revealed a significant association of EI with all identified variables among budding entrepreneurs. However, differences in mean scores between budding entrepreneurs and students were observed only on questionnaires related to RP, ESE, EI, and prevention-focus. In regression analysis, taking RP, ESE, and prevention focus as predictors of EI, the results revealed that 38% of the variance in EI could be attributed to these factors, with ESE emerging as the most significant predictor. This study underscores the importance of fostering ESE among students, suggesting its significant contribution to the development of higher EI. Policymakers in the field of entrepreneurship promotion may find these outcomes valuable, explore them further, and advocate for interventions targeting ESE among students.

Suggested Citation

  • Parwinder Singh & Ankita Mishra, 2024. "Convergence and Contrast: An Investigation into the Psychological Attributes of Budding Entrepreneurs," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(4), pages 19597-19627, December.
    • Handle: RePEc:spr:jknowl:v:15:y:2024:i:4:d:10.1007_s13132-024-01921-0
    DOI: 10.1007/s13132-024-01921-0
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