Development and validation of sources of entrepreneurial self-efficacy and outcome expectations: A social cognitive career theory perspective
Introduction
This paper proposes a new measuring instrument that can more adequately capture the sources of self-efficacy and outcome expectations as posited by social cognitive career theory (SCCT) by Lent, Brown, and Hackett (1994) within the context of entrepreneurship. The present study is set against the backdrop of critique of intention-based theories and their limitations and the alternative framework offered by SCCT. SCCT has a more robust ability to predict many entrepreneurial outcomes, especially new venture creation, better than previous psychological theories. Therefore, scholars (Carsrud, Brännback, Elfving, & Brandt, 2009; Liguori, Bendickson, & McDowell, 2018; Liñán & Fayolle, 2015) have called for the application of SCCT in an entrepreneurial context. Several researchers (Lanero, Vázquez, & Aza, 2016; Liguori, Winkler, Vanevenhoven, Winkel, & James, 2019; Meoli, Fini, Sobrero, & Wiklund, 2020; Vanevenhoven & Liguori, 2013) have begun to respond to this call. However, most of their works have concentrated on the proximal aspects of the theory, leaving the distal parts of the theory unexplored.
One crucial variable in the distal parts is learning experiences. Learning experiences are variables conceived by Bandura (1986; 1997) to serve as the primary sources of self-efficacy. Lent et al. (1994) further posited that these variables could serve more function as a connecting bridge between the distal and proximal parts of SCCT. It, therefore, seems reasonable to argue that the entrepreneurial application of the distal aspects of the theory is hampered by the lack of a validated scale to measure entrepreneurial learning experiences (ELE). Some individuals may argue that most of the research on the antecedents of entrepreneurial self-efficacy (ESE) has been based on the learning experiences, according to Newman, Obschonka, Schwarz, Cohen, and Nielsen (2019). Nevertheless, as will be discussed in the latter parts of this study, we argue that prior works in entrepreneurship did not conceptualize and measure learning experiences as defined by Bandura (1986; 1997). Therefore, those related constructs could not be applied within the SCCT framework. There are few exceptions (such as Erikson, 1999; Farashah, 2015; Mauer, Eckerle, & Brettel, 2013) that tried to measure ELE as defined by Bandura. However, they did not validate the research instruments. Besides, Farashah (2015) scale may be used only for adults who are practicing entrepreneurs. Furthermore, following Moberg's (2013) argument that entrepreneurship should expand beyond the business school and be taught to all students, regardless of their discipline, we argue that there is a need for a validated ELE scale that can be used among students who have little or no entrepreneurial experience.
Therefore, this study fills this gap by developing and validating an ELE scale for students with little entrepreneurial experience. Filling the gap in knowledge in this regard should open up the distal aspect of SCCT for entrepreneurial research and provide more depth of knowledge on several entrepreneurial outcomes.
The subsequent section of this paper contains a general review of the SCCT. Next, we discuss why SCCT is a crucial and better theory than the extensively used intention-based theory that permeates entrepreneurship literature. In the next section, we discuss the learning experiences aspect of the theory and why their application is faulty in an entrepreneurial context. The next section is the methodology. It comprises three phases. In the first phase, we discussed how the items were generated to capture ELE as Bandura (1997) and Lent et al. (1994) posited. Also, we discuss the initial stage of face validity done by a panel of expert reviewers. In the second phase, we discussed how the items were validated through exploratory factor analysis (EFA). In the third phase, we discussed further validation processes comprising construct validity, confirmatory factor analysis (CFA), convergent validity and discriminant validity. Furthermore, in this phase, we conducted a composite reliability test, as scholars argue that it is better than the typical Cronbach's alpha (Fornell & Larcker, 1981). The next section is the results section. Here, we present the EFA results in the second phase. This is followed by the construct validity results, CFA, convergent and discriminant validity, and reliability. Finally, we had the discussion section, the implications of the research and its limitations.
Section snippets
Social cognitive career theory: an overview
With roots in vocational psychology, SCCT aims to provide a unifying framework for explaining experiential and cognitive processes that account for an individual's career choices. It emphasizes the roles of personal agency and human capacity. The theory brings together five inter-connected models: interest development, choice-making, performance and persistence in educational and vocational domains, satisfaction and well-being in educational and vocational contexts, and career self-management (
Phase 1: item generation
Based on a closer study of the sources of self-efficacy by Bandura (1997), we developed 40 items to measure EPM (12 items), EVP (14 items), and EVL (14 items). Items were written in a first-person statement, and some of them were negatively worded. For EPM, however, two items were adapted from early commercialization behaviour, a subscale of early entrepreneurial competence scale by Obschonka, Silbereisen, Schmitt-Rodermund, and Stuetzer (2011).
The items and a brief explanation of each ELE
Factor analysis of the ELE items
The data of the 49 items developed to measure EPM, EVL, EVP, EPE, and ENE were subjected to maximum likelihood (ML) extraction method and promax rotation in EFA. We used ML because, according to Worthington and Whittaker (2006), it is better for scale development and is the estimation method of CFA. Also, we followed the precedence of Usher and Pajares (2009), who used ML to extract their EFA sources of mathematics self-efficacy. Items that fall below .40 in the communalities, its primary
Discussion
The main goal of this study is to develop an ELE scale that corresponds to the definition and conceptualization of learning experiences by Bandura (1997) and Lent et al. (1994) in an entrepreneurial context. This is necessary to further the application of SCCT in an entrepreneurial context. We did this using established scale development procedures. From the initial 49 items, the result produced a 24-item, theory-consistent 5-factor model. The construct validity showed that each of the ELE
Research implications and limitations of the study
This paper proposes a new instrument based on the SCCT. ESE has been empirically found to influence many entrepreneurial outcomes (Newman et al., 2019). Nevertheless, research investigating its outcomes are far more than those of its antecedents (Javadian, Opie, & Parise, 2018). The first crucial implication of this study is that it offers an alternative theory to investigate the antecedents of ESE through a robust and integrated framework of the SCCT. Second, entrepreneurial researchers can
Authorship
Adeola Samuel Adebusuyi (lead author): He is responsible for the conception, design of the study, data analysis and writing of the original draft.
Olubusayo Foluso Adebusuyi: She is responsible for the data collection, editing and revising of the draft
Oluwaseun Kolade: Along with editing the manuscript for better clarity and coherence, his contributions helped shaped the theory section, discussion of findings and implications.
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