Abstract
Studies with contradictory results have been published on the relationship between personality and entrepreneurial intentions. This paper examines the role of personality traits and demographic factors in the formation of business start-up intention, using a moderated mediation model derived from the theory of planned behaviour. Data were collected from 324 final year MBA students using a structured survey instrument and analysed with single and multi-group structural equation modelling (SEM). Innovativeness, risk propensity and stress tolerance had small but significant indirect effects on entrepreneurial intentions; these effects were mediated by attitudes to entrepreneurship and perceived behavioural control. Need for autonomy and stress tolerance were not significant, neither was family background nor work experience. Observation of small, indirect personality effects suggests some resolution to the contradictory results observed until now; helps career counsellors and university selection panels to identify candidates with the potential to become entrepreneurs; and provides support for calls for policy makers and university administrators to develop educational environments and socio-political infrastructure that provides opportunities for students to exploit their creative and risk-taking traits and develop positive attitudes to entrepreneurship.
Appendix
A Appendix
Questionnaire items
| Code | Wording |
| Attitude towards entrepreneurship | |
| AA1* | will starting a business provide you independence |
| AA2 | will starting a business provide you with decision-making power |
| AA3 | will starting a business provide you with a position of authority |
| AA4* | will starting a business provide you with the opportunity to be your own boss |
| AA5* | will starting a business provide you with an opportunity to know about your abilities |
| AA6* | will starting a business provide you with an opportunity to make use of your creativity |
| AA7 | will starting a business provide you with an opportunity to carry out your dreams |
| AA8* | will starting a business provide you with an opportunity to create something new |
| AA9* | will starting a business provide you with an opportunity to have a challenging job |
| AA10 | will starting a business provide you with an opportunity to have an exciting job |
| AA11 | will starting a business provide you with an opportunity to have an interesting job |
| AA12 | will starting a business provide you with an opportunity to have power in making your own decisions |
| AA13 | will starting a business provide you with an opportunity to have authority in making your own decisions |
| Subjective norm for entrepreneurship | |
| SN1 | is it important to you that your closest family members think that you should start your own business |
| SN2 | is it important to you that your closest friends think that you should start your own business |
| SN3* | is it important to you that your colleagues and people around you think that you should start your own business |
| SN4 | is it important to you that your fellow graduates of the entrepreneurship programs think that you should start your own business |
| SN5* | is it important to you that the local business community leaders think that you should start your own business |
| Perceived behaviour control for entrepreneurship | |
| PBC1 | would it be easy for you to become an entrepreneur |
| PBC2 | would it be easy for you to start your own business |
| PBC3 | do you believe that the number of events outside your control which could prevent you from being self-employed is numerous |
| PBC4* | are you confident that you have the ability to successfully become self-employed |
| PBC5 | are you confident that, if you start a business, the chances of failure will be very low |
| Entrepreneurial intention | |
| EI1 | you are ready to do anything to be an entrepreneur |
| EI2 | your professional goal is to become an entrepreneur |
| EI3 | you will make every effort to start your own business |
| EI4* | you are determined to create a firm in the future |
| EI5 | you have very seriously thought of starting a firm |
| EI6* | you have firm intentions to start a business |
| Innovativeness | |
| INT1 | you are always in the midst of launching new project |
| INT2 | you are fairly curious and continually in search of discovery |
| Need for autonomy | |
| NA1 | starting a business provide you with Independence |
| NA2 | starting a business provide you with decision-making power |
| NA3 | starting a business provide you with position of authority |
| NA4 | starting a business provide you with opportunity be my own boss |
| Locus of control | |
| LC1 | according to you, it’s possible to influence one’s destiny |
| LC2 | your professional goal is to become an entrepreneur |
| Propensity of take risks | |
| PTR1 | you are prepared to invest a lot of my own capital to take a business opportunity |
| PTR2 | you believe that higher risks are worth taking for higher rewards |
| PTR3* | for you, the best possible plan is one that is risk free |
| PTR4 | you regularly take calculated risks to gain potential advantage |
| Stress Tolerance | |
| ST1 | you are ready to do anything to be an entrepreneur |
| ST2 | your professional goal is to become an entrepreneur |
Note: All item sets preceded by the text, “To what extent … ”. Items marked * were removed from the final scales.
B Appendix
Summary statistics
| No | Variables | Mean | SD |
|---|---|---|---|
| 1 | Attitude toward entrepreneurship | 3.89 | 0.64 |
| 2 | Subjective norm | 3.12 | 0.86 |
| 3 | Perceived behavioural control | 3.49 | 0.67 |
| 4 | Entrepreneurial intention | 3.72 | 0.60 |
| 5 | Innovativeness | 3.71 | 0.73 |
| 6 | Need for autonomy | 3.83 | 0.74 |
| 7 | Locus of control | 3.71 | 0.75 |
| 8 | Propensity to take risks | 3.58 | 0.85 |
| 9 | Stress tolerance | 3.53 | 0.90 |
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