The Effect of Entrepreneurial Attitudes and Individual Attributes on Entrepreneurial Activity in the context of ASEAN Member States: Evidence from Thailand and Vietnam

Eristian Wibisono; Hoang Thi Phuong Thao

doi:10.22146/gamaijb.73025

The Effect of Entrepreneurial Attitudes and Individual Attributes on Entrepreneurial Activity in the context of ASEAN Member States: Evidence from Thailand and Vietnam

Eristian Wibisono, Hoang Thi Phuong Thao

(Submitted 14 February 2022)

(Published 8 February 2023)

Abstract

This study analyzes the influence of entrepreneurial attitudes and individual attributes on entrepreneurial activity in two ASEAN member countries: Vietnam and Thailand. By applying the multinomial logistics regression (MLR) analysis method, the results show that those with an entrepreneurial network, who can read business opportunities, and have skills and knowledge, have a positive and significant influence when deciding to start and invest in others’ new businesses. On the other hand, females and those with a secondary education were more likely to engage in entrepreneurial activities. The study also shows that Vietnam’s entrepreneurial attitudes and individual characteristics seem to be better, differentiating it from Thailand. The Global Entrepreneurship Monitor (GEM) data from 2017 were the most recent data available at the time of this study. However, the availability of more up-to-date data is considered necessary to enrich and expand the impact of future research.

Keywords

entrepreneurial activities, entrepreneurial attitudes, individual attributes, start/ invest a business, Thailand, Vietnam

Full Text: PDF

DOI: 10.22146/gamaijb.73025

References

Abun, D. (2021). Measuring Entrepreneurial Knowledge and Entrepreneurial Intention of ABM Grade XII, Senior High School Students of Divine Word Colleges in Region I, Philippines. SSRN Electronic Journal, April. https://doi.org/10.2139/ssrn.3807867

Ahmed, M. A., Khattak, M. S., & Anwar, M. (2022). Personality traits and entrepreneurial intention: The mediating role of risk aversion. Journal of Public Affairs, 22(1), e2275. https://doi.org/10.1002/PA.2275

Almodovar-Gonzalez, M., Fernandez-Portillo, A., & Diaz-Casero, J. C. (2020). Entrepreneurial activity and economic growth. A multi-country analysis. European Research on Management and Business Economics, 26(1), 9-17. https://doi.org/10.1016ZJ. IEDEEN.2019.12.004

Breznitz, S. M., & Zhang, Q. (2020). Determinants of graduates’ entrepreneurial activity. Small Business Economics, 55(4), 1039-1056. https://doi.org/10.1007/S11187-019- 00171-8/TABLES/5

Burkynskyi, B. V., Goryachuk, V. F., Laiko, O. I., Lisyuk, V. M., Shlafman, N. L., & Bondarenko, O. V. (2021). Analyzing and Strategizing the Development of Entrepreneurial Activity Based on the Principles of Increasing Productivity (Illustrated by the Example of Developed Countries and Ukraine). Comparative Economic Research. Central and Eastern Europe, 24(3), 109-125. https://doi.org/10.18778/1508- 2008.24.24

Cardella, G. M., Hernandez-Sanchez, B. R., & Sanchez-Garcia, J. C. (2020). Women Entrepreneurship: A Systematic Review to Outline the Boundaries of Scientific Literature. Frontiers in Psychology, 11, 1557. https://doi.org/10.3389/FPSYG.2020.01557/ BIBTEX

Dheer, R. J. S. (2017). Cross-national differences in entrepreneurial activity: role of culture and institutional factors. Small Business Economics, 48(4), 813-842. https://doi. org/10.1007/s11187-016-9816-8

Diana Rusu, V., & Roman, A. (2017). Entrepreneurial activity in the EU: An empirical evaluation of its determinants. Sustainability (Switzerland), 9(10), 1-16. https:// doi.org/10.3390/su9101679

Diaz-Garcia, M. C., & Jimenez-Moreno, J. (2010). Entrepreneurial intention: The role of gender. International Entrepreneurship and Management Journal, 6(3), 261-283. https://doi.org/10.1007/s11365-008-0103-2

Douglas, E. J., & Fitzsimmons, J. R. (2005). Entrepreneurial Intentions towars Individual vs. Corporate Entrepreneurship. SEAANZ 2005 Conference, Armidale, N.S.W., September 2005, September.

Farooq, M. S., Salam, M., ur Rehman, S., Fayolle, A., Jaafar, N., & Ayupp, K. (2018). Impact of support from social network on entrepreneurial intention of fresh business graduates: A structural equation modelling approach. Education and Training, 60(4), 335-353. https://doi.org/10.1108/ET-06-2017-0092/FULL/XML

Feder, E. S., & Nitu-Antonie, R. D. (2017). Connecting gender identity, entrepreneurial training, role models and intentions. International Journal of Gender and Entrepreneurship, 9(1), 87-108. https://doi.org/10.1108/IJGE-08-2016-0028/FULL/XML

Galanakis, K., & Giourka, P. (2017). Entrepreneurial path: decoupling the complexity of entrepreneurial process. International Journal of Entrepreneurial Behaviour and Research, 23(2), 317-335. https://doi.org/10.1108/IJEBR-03-2016-0079/FULL/ XML

Goel, R. K., Goktepe-Hulten, D., & Ram, R. (2014). Academics’ entrepreneurship propensities and gender differences. https://doi.org/10.1007/s10961-014-9372-9

Hechavarria, D. M., & Ingram, A. E. (2019). Entrepreneurial ecosystem conditions and gendered national-level entrepreneurial activity: a 14-year panel study of GEM. Small Business Economics, 53(2), 431-458. https://doi.org/10.1007/S11187-018- 9994-7/TABLES/7

Hernandez-Sanchez, B. R., Sanchez-Garcia, J. C., & Mayens, A. W. (2019). Impact of Entrepreneurial Education Programs on Total Entrepreneurial Activity: The Case of Spain. Administrative Sciences 2019, Vol. 9, Page 25, 9(1), 25. https://doi. org/10.3390/ADMSCI9010025

Hien, V. V., & Trang, L. H. V. (2021). Nghien cdu cac nhan to anh hPdng den y dinh khdi nghiep cua sinh vien trPdng dai hoc Tien Giang. TAP CHI KHOA HOC DAI HOC

m6 thAnh ph6 h6 chi minh - KINH te vA quAn tri kinh doanh,

16(2), 170-192. https://doi.org/10.46223/HCMCOUJS.ECON.VI.16.2.578.2021

Honjo, Y., & Nakamura, H. (2020). The link between entrepreneurship and informal investment: An international comparison. Japan and the World Economy, 54, 101012.

Hsu, D. K., Burmeister-Lamp, K., Simmons, S. A., Foo, M. Der, Hong, M. C., & Pipes, J. D. (2019). “I know I can, but I don’t fit”: Perceived fit, self-efficacy, and entrepreneurial intention. Journal of Business Venturing, 34(2), 311-326. https://doi. org/10.1016/J.JBUSVENT.2018.08.004

Jimenez, A., Palmero-Camara, C., Gonzalez-Santos, M. J., Gonzalez-Bernal, J., & Jimen- ez-Eguizabal, J. A. (2015). The impact of educational levels on formal and informal entrepreneurship. BRQ Business Research Quarterly, 18(3), 204-212. https://doi. org/10.1016/J.BRQ.2015.02.002

Karimi, S., Biemans, H. J. A., Lans, T., Chizari, M., Mulder, M., & Mahdei, K. N. (2013). Understanding role Models and Gender Influences on Entrepreneurial Intentions Among College Students. Procedia - Social and Behavioral Sciences, 93(0), 204214. https://doi.org/10.1016Aj.sbspro.2013.09.179

Karlidag-Dennis, E., Hazenberg, R., & Dinh, A. T. (2020). Is education for all? The experiences of ethnic minority students and teachers in North-western Vietnam engaging with social entrepreneurship. International Journal of Educational Development, 77(May), 102224. https://doi.org/10.1016/j.ijedudev.2020.102224

Koellinger, P., Minniti, M., & Schade, C. (2013). Gender Differences in Entrepreneurial Propensity*. Oxford Bulletin of Economics and Statistics, 75(2), 213-234. https://

doi.org/10.1111/J.1468-0084.2011.00689.X

Krueger, N. (2017). The Impact ofPrior Entrepreneurial Exposure on Perceptions ofNewVen- ture Feasibility and Desirability*: Https://Doi.Org/10.1177/104225879301800101, 18(1), 5-21. https://doi.org/10.1177/104225879301800101

Krueger, N. F. (2007). The cognitive infrastructure of opportunity emergence. Entrepreneurship: Concepts, Theory and Perspective, 25(3), 185-206. https://doi. org/10.1007/978-3-540-48543-8_9

Langowitz, N., & Minniti, M. (2017). The Entrepreneurial Propensity of Women: Https://Doi.Org/10.1111/j.1540-6520.2007.00177.x, 31(3), 341-364. https://doi. org/10.1111/J.1540-6520.2007.00177.X

Liguori, E., Winkler, C., Vanevenhoven, J., Winkel, D., & James, M. (2019). Entrepreneurship as a career choice: intentions, attitudes, and outcome expectations. Https:// Doi.Org/10.1080/08276331.2019.1600857, 32(4), 311-331. https://doi.org/10.108 0/08276331.2019.1600857

Mahfud, T., Triyono, M. B., Sudira, P., & Mulyani, Y. (2020). The influence of social capital and entrepreneurial attitude orientation on entrepreneurial intentions: the mediating role of psychological capital. European Research on Management and Business Economics, 26(1), 33-39. https://doi.org/10.1016/JJEDEEN.2019.12.005

Manning, P., Stokes, P., Tarba, S. Y., & Rodgers, P. (2019). Entrepreneurial stories, narratives and reading - Their role in building entrepreneurial being and behaviour: Https://Doi.Org/10.1177/1465750319889234, 21(3), 178-190. https://doi. org/10.1177/1465750319889234

Montoro-Sanchez, A., Ortiz-de-Urbina-Criado, M., & Romero-Martinez, A. M. (2008). The Decision to Use Alliances as Corporate Entrepreneurship: The Role of Resources and Skills. Group Decision and Negotiation 2008 18:5, 18(5), 431-448. https://doi.org/10.1007/S10726-008-9135-9

Mustafa, M., & Treanor, L. (2022). Gender and Entrepreneurship in the New Era: New Perspectives on the Role of Gender and Entrepreneurial Activity. Entrepreneurship Research Journal, 12(3), 213-226. https://doi.org/10.1515/ERJ-2022-0228

Ndofirepi, T. M. (2020). Relationship between entrepreneurship education and entrepreneurial goal intentions: psychological traits as mediators. Journal of Innovation and Entrepreneurship, 9(1). https://doi.org/10.1186/s13731-020-0115-x

Oosterbeek, H., van Praag, M., & Ijsselstein, A. (2010). The impact of entrepreneurship education on entrepreneurship skills and motivation. European Economic Review, 54(3), 442-454. https://doi.org/10.1016ZJ.EUR0EC0REV.2009.08.002

Pawitan, G., Nawangpalupi, C. B., & Widyarini, M. (2017). Understanding the relationship between entrepreneurial spirit and global competitiveness: Implications for Indonesia. International Journal of Business and Society, 18(S2), 261-278.

Peltonen, J., & Arenius, P. (2017). “Work Experience Diversity, Cognitive Ability, and First Entry into Entrepreneurship.” Https://Doi.Org/10.5465/Ambpp.2016.11132ab- stract, 2016(1), 11132. https://doi.org/10.5465/AMBPP.2016.11132ABSTRACT

Rofifah, D. (2020). '^MNo Title No Title No Title. Paper Knowledge . Toward a Media History of Documents, November 2014, 12-26.

Shwetzer, C., Maritz, A., & Nguyen, Q. (2019). Entrepreneurial ecosystems: a holistic and dynamic approach. Journal of Industry-University Collaboration, 1(2), 79-95. https://doi.org/10.1108/JIUC-03-2019-0007

Soltysiak, W. (2019). ANALYSIS OF FACTORS SHAPING ENTREPRENEURIAL Entrepreneurship. 134.

Sun, H., Ni, W., Teh, P. L., & Lo, C. (2020). The Systematic Impact of Personal Characteristics on Entrepreneurial Intentions of Engineering Students. Frontiers in Psychology, 11, 1072. https://doi.org/10.3389/FPSYG.2020.01072/BIBTEX Szerb, L., Rappai, G., Makra, Z., & Terjesen, S. (2007). Informal investment in transition economies: Individual characteristics and clusters. Small Business Economics, 28(2-3), 257-271.

Trevelyan, R. (2011). Self-efficacy and effort in new venture development. Journal of Management and Organization, 17(1), 002-016. https://doi.org/10.1017/ S1833367200001681

Wei, X., Liu, X., & Sha, J. (2019). How does the entrepreneurship education influence the students’ innovation? Testing on the multiple mediation model. Frontiers in Psychology, 10(JULY), 1557. https://doi.org/10.3389/FPSYG.2019.01557/BIBTEX Wong, P. K., & Lee, L. (2005). Antecedents for entrepreneurial propensity in Singapore. Available at SSRN 856265.

Refbacks

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.