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Analyzing the past to prepare for the future: a review of literature on factors with influence on entrepreneurial intentions

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Abstract

The purpose of this paper is to review existing literature and show the state of the art regarding the factors that influence the entrepreneurial intention (EI) of individuals. It provides a synthesis/integration of previous research on the topic as a framework to identify shortcomings, new lines of research, and practical insights. The analysis conducts a systematic review of 177 papers in the SCOPUS database from 1994 to 2017. The findings highlight three themes regarding the factors that influence EI: personal-level variables, entrepreneurship education (EE), and contextual factors and institutional variables. Within each of these themes, cognitive factors such as self-efficacy; personality and psychological variables such as propensity/adversity to risk; and socio-demographic variables such as age, gender, and human capital seem to exert an influence, in addition to personal motivations and/or deterrents. EE appears to have the greatest influence in most cases; at least it helps to develop greater self-efficacy or a more favorable attitude toward entrepreneurship, among others. Finally, with regard to contextual and institutional variables, cultural and social contexts seem to have a clear influence on EI, along with informal institutions through the normative dimension. Although there are many studies on the “factors that influence EI,” this study is the first attempt to make a qualitative presentation on the state of the art. It makes practical suggestions to encourage entrepreneurship in universities and in retired individuals. It also makes recommendations for improvement and suggests new lines of research such as the importance of linking these three categories of factors that influence EI, with the evaluation of an international entrepreneurship.

Resumen

El propósito de este trabajo es revisar la literatura existente y mostrar el estado del arte en cuanto a los factores que influyen en la intención emprendedora (IE) de los individuos. Este trabajo, proporciona una síntesis/integración de las investigaciones anteriores sobre el tema, que sirven de marco de referencia para identificar las deficiencias, las nuevas líneas de investigación y las implicaciones prácticas. El análisis llevado a cabo, realiza un examen sistemático de 177 documentos obtenidos de la base de datos SCOPUS del año 1994 al 2017. Las conclusiones destacan tres temas relativos a los factores que influyen en la IE: Variables a nivel personal, Educación Emprendedora (EE), y factores contextuales y variables institucionales. Dentro de cada uno de esos temas, los factores cognitivos como la autoeficacia; las variables de personalidad y psicológicas como la propensión/aversión al riesgo; las variables sociodemográficas como la edad, el género y el capital humano, parecen ejercer una influencia sobre la IE, además de las motivaciones y las barreras personales. La EE parece que en la mayoría de los casos tiene una fuerte influencia; al menos ayuda entre otros, a desarrollar una mayor autoeficacia o una actitud más favorable hacia el emprendimiento. Por último, en lo que respecta a las variables contextuales e institucionales, los contextos culturales y sociales parecen tener una clara influencia en la IE, junto con las instituciones informales a través de la dimensión normativa. Aunque hay muchos estudios sobre los "factores que influyen en la IE", este estudio es el primer intento de hacer una presentación cualitativa sobre el estado del arte. Asimismo, hace sugerencias prácticas para fomentar el emprendimiento en las universidades y en los jubilados. También hace recomendaciones para mejorar y sugiere nuevas líneas de investigación como la importancia de vincular estas tres categorías de factores que influyen en la IE, con la evaluación de la IE internacional.

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Notes

  1. European Commission. Web page: https://ec.europa.eu/growth/smes_en

  2. https://www.hofstede-insights.com/product/compare-countries/

  3. The classification of economies by level of economic development is adapted by the World Economic Forum (WEF). This forum measures and compares the competitiveness of countries since 1979, defining competitiveness as the set of institutions, policies and factors that determine the level of productivity of a country. According to the WEF, countries that are in the factor-driven phase are those that are dominated by subsistence agriculture and extraction businesses, with a heavy dependence on low-skilled labor and natural resources. The efficiency-driven phase refers to more competitive economies and more efficient production processes with an improvement in the quality of products. When the level of development advances, the economies become Innovation-driven, with higher levels of knowledge and the service sector expands. (http://weforum.org).

Abbreviations

ADHD:

Attention deficit and hyperactivity disorder

ATB:

Attitude towards that behavior

AUTO:

Autonomy

C_DIM:

Cognitive Dimension

COND_DIM:

Conductual dimension

Cre_P:

Creative personality

ED:

Entrepreneurial disposition

EI:

Entrepreneurial Intention

EE:

Entrepreneurship Education

EO:

Entrepreneurial orientation

FF:

Fear of failure

F_INST:

Formal Institution

GDP:

Gross Domestic Product

I_INST:

Informal institution

INDE:

Independence

IP:

Innovative personality

LC:

Locus of control

NA:

Need for achievement

N_DIM:

Normative dimension

PBC:

Perceived behavioral control

PD:

Perceived desirability

P_EE:

Previous experience in entrepreneurship

PF:

Perceived feasibility

P_LE:

Prior labor experience

PROA_P:

Proactive personality

RA:

Risk Aversion

RM:

Role models

R_DIM:

Regulatory dimension

RP:

Risk Propensity

SC:

Social Capital

SEE:

Shapero´s Model of Entrepreneurial Event

SN:

Subjective norm

SS:

Social status

TA:

Tolerance to ambiguity

TPB:

Theory of Planned Behavior

TRA:

Theory of Reasoned Action

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Acknowledgments

We have to thank the two anonymous reviewers and the Editor of Journal of International Entrepreneurship for their valuable comments and suggestions which helped us to improve an earlier version of this paper.

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    Noemí Pérez-Macías, José-Luis Fernández-Fernández & Antonio Rua Vieites

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Pérez-Macías, N., Fernández-Fernández, JL. & Vieites, A.R. Analyzing the past to prepare for the future: a review of literature on factors with influence on entrepreneurial intentions. J Int Entrep 20, 52–114 (2022). https://doi.org/10.1007/s10843-021-00289-5

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