Unveiling the Mindset of Future Digital Entrepreneurs in Malaysia
Abstract
Entrepreneurship business has mushroomed in recent years and has been populated mainly by the young generation who intend to start up their new venture, especially those who are in their 20s. Thus, the study aimed to examine the factors that affect digital entrepreneur intention (DEI) among university students from both public and private institutions in Malaysia. The study conducted a survey on 480 students and a variance-based partial least square-structural equation model (PLS-SEM) is adopted to analyse the collected data. The result shows that self-motivation is the most important factor to affect DEI, followed by entrepreneur education and self-efficacy. Interestingly, the study found that market support has a negative effect on DEI. This may be due to the fact that market support is viewed more as a marketing tool on social media platforms than as a means of promoting DEI and students need time to adapt to the ever-changing technology transformation. On the other hand, while perceived desirability has direct and indirect effects on DEI, perceived feasibility needs to rely on the perceived opportunity to affect DEI. This shows that how the students perceived opportunities and seeing hope in the future is important to boost their confidence and change their perception of their self and collective efficacy. Thus, more entrepreneurial opportunities need to be created to encourage more DEI among the youth.
References
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Shapero, A., and Sokol, L. (1982). Social dimensions of entrepreneurship. In C. A. Kent, D. L. Sexton, and K. H. Vesper (Eds.), Encyclopedia of entrepreneurship (pp. 72-90). Englewood Cliffs: Prentice Hall.
Shook, C. L., and Bratianu, C. (2010). Entrepreneurial intent in a transitional economy: an application of the theory of planned behavior to Romanian students. International entrepreneurship and management journal, 6(3), 231-247.
Singh, G. and DeNoble, A. (2003). Early retirees as the next generation of entrepreneurs. Entrepreneurship: Theory and Practice, Spring, 207-226.
Stevenson, H. H., and Jarillo, J. C. (2007). A paradigm of entrepreneurship: Entrepreneurial management. In Entrepreneurship (pp. 155-170). Springer, Berlin, Heidelberg.
To, C. K., Martínez, J. M. G., Orero-Blat, M., and Chau, K. P. (2020). Predicting motivational outcomes in social entrepreneurship: Roles of entrepreneurial self-efficacy and situational fit. Journal of Business Research, 121, 209-222.
Tsai, K.H., Chang, H. C., and Peng, C. Y. (2014). Extending the link between entrepreneurial self efficacy and intention: A moderated mediation model. International Entrepreneurship and Management Journal, 12(2), 445-463.
Tsai, K. H., Chang, H. C., and Peng, C. Y. (2016). Refining the linkage between perceived capability and entrepreneurial intention: Roles of perceived opportunity, fear of failure, and gender. International Entrepreneurship and Management Journal, 12(4), 1127-1145.
Xiao, L., and Fan, M. (2013). Does social network always promote entrepreneurial intentions? An empirical study in China. Neural Computing and Applications, 24(1), 21-26.
Youssef, A. B., Boubaker, S., Dedaj, B., and Carabregu-Vokshi, M. (2021). Digitalization of the economy and entrepreneurship intention. Technological Forecasting and Social Change, 164, 120043.
Zhang, Y., Duysters, G., and Cloodt, M. (2014). The role of entrepreneurship education as a predictor of university students’ entrepreneurial intention. International Entrepreneurship and Management Journal, 10(3), 623-641.
Zhao, H., Seibert, S. E., and Hills, G. E. (2005). The mediating role of self efficacy in the development of entrepreneurial intentions. Journal of Applied Psychology, 90(6), 1265-1272.
Barbosa, S. D., Gerhardt, M. W., and Kickul, J. R. (2007). The role of cognitive style and risk preference on entrepreneurial self efficacy and entrepreneurial intentions. Journal of Leadership and Organizational Studies, 13(4), 86-104.
Bajpai, V., Pandey, S., and Shriwas, S. (2012). Social media marketing: Strategies and its impact. International Journal of Social Science and Interdisciplinary Research, 1(7), 214-223.
Cao, Z. and Shi, X. (2020). A systematic literature review of entrepreneurial ecosystems in advanced and emerging economies. Small Business Economics, 1-36.
Chen, C. C., Greene, P. G., and Crick, A. (1998). Does entrepreneurial self-efficacy distinguish entrepreneurs from managers? Journal of Business Venturing, 13, 295–316.
Davidson, E., and Vaast, E. (2010). Digital entrepreneurship and its sociomaterial enactment. In 2010 43rd Hawaii International Conference on System Sciences (pp. 1-10). IEEE.
Do, B.R. and Dadvari, A. (2017). The influence of the dark triad on the relationship between entrepreneurial attitude orientation and entrepreneurial intention: a study among students in Taiwan university. Asia Pacific Management Review, 22 (4), 185-191.
Dunn, T., Holtz-Eakin, D.(2000). Financial capital, human capital, and the transition to self-employment: evidence from inter- generational links. J. Labor Econ, 18 (2), 282-305.
Esfandiar, K., Sharifi-Tehrani, M., Pratt, S., and Altinay, L. (2019). Understanding entrepreneurial intentions: A developed integrated structural model approach. Journal of Business Research, 94, 172-182.
Fayolle, A., Liñán, F., & Moriano, J. A. (2014). Beyond entrepreneurial intentions: values and motivations in entrepreneurship. International entrepreneurship and management journal, 10(4), 679-689.
Guthrie, C. (2014). The digital factory: a hands-on learning project in digital entrepreneurship. Journal of Entrepreneurship Education, 17(1), 115.
Hassan, H., Sade, A. B., and Rahman, M. S. (2020). Shaping entrepreneurial intention among youngsters in Malaysia. Journal of Humanities and Applied Social Sciences.
Hair, J. F., Risher, J. J., Sarstedt, M., and Ringle, C. M. (2019). When to use and how to report the results of PLS-SEM. European business review, 31(1), 2-24.
Hair, N., Wetsch, L. R., Hull, C. E., Perotti, V., and Hung, Y. T. C. (2012). Market orientation in digital entrepreneurship: advantages and challenges in a Web 2.0 networked world. International Journal of Innovation and Technology Management, 9(06), 1250045.
Hull, C. E., Caisy Hung, Y. T., Hair, N., Perotti, V., and DeMartino, R. (2007). Taking advantage of digital opportunities: a typology of digital entrepreneurship. International Journal of Networking and Virtual Organisations, 4(3), 290-303.
Kraus, S., Filser, M., Puumalainen, K., Kailer, N., and Thurner, S. (2020). Business model innovation: a systematic literature review. Int J Innov Technol Manag, 17(6):2050043.
Kraus, S., Palmer, C., Kailer, N., Kallinger, F. L., and Spitzer, J. (2018). Digital entrepreneurship: A research agenda on new business models for the twenty-first century. International Journal of Entrepreneurial Behavior and Research.
Krueger, N. F., Reilly, M. D., and Carsrud, A. L. (2000). Competing models of entrepreneurial intentions. Journal of Business Venturing, 15(5-6), 411-432.
Le Dinh, T., Vu, M. C., and Ayayi, A. (2018). Towards a living lab for promoting the digital entrepreneurship process. International Journal of Entrepreneurship, 22(1), 1-17.
Lindquist, M., J., Sol, J., Van Praag, M., (2015). Why do entrepreneurial parents have entrepreneurial children? J. Labor Econ., 33 (2), 269-296.
Maresch, D., Harms, R., Kailer, N., and Wimmer-Wurm, B. (2016). The impact of entrepreneurship education on the entrepreneurial intention of students in science and engineering versus business studies university programs. Technological Forecasting and Social Change, 104(2), 172-179.
Nabi, G., & Liñán, F. (2011). Graduate entrepreneurship in the developing world: intentions, education and development. Education+ training.
Naktiyok, A., Nur Karabey, C., and Caglar Gulluce, A. (2010). Entrepreneurial self-efficacy and entrepreneurial intention: the Turkish case. International entrepreneurship and management journal, 6(4), 419-435.
Robinson, P. and Josien, L. (2014). Entrepreneurial education: using ‘the challenge’ in theory and practice. Journal of Entrepreneurship Education, 17 (2), 172.
Roy, R., Akhtar, F., and Das, N. (2017). Entrepreneurial intention among science and technology students in India: Extending the theory of planned behavior. International Entrepreneurship and Management Journal, 13(4), 1013-1041.
Sánchez, J. C. (2011). University training for entrepreneurial competencies: Its impact on intention of venture creation. International Entrepreneurship and Management Journal, 7(2), 239-254.
Shaheer, N.A. and Li, S. (2018). The CAGE around cyberspace? How digital innovations internationalize in a virtual world. Journal of Business Venturing, 35(1).
Shapero, A., and Sokol, L. (1982). Social dimensions of entrepreneurship. In C. A. Kent, D. L. Sexton, and K. H. Vesper (Eds.), Encyclopedia of entrepreneurship (pp. 72-90). Englewood Cliffs: Prentice Hall.
Shook, C. L., and Bratianu, C. (2010). Entrepreneurial intent in a transitional economy: an application of the theory of planned behavior to Romanian students. International entrepreneurship and management journal, 6(3), 231-247.
Singh, G. and DeNoble, A. (2003). Early retirees as the next generation of entrepreneurs. Entrepreneurship: Theory and Practice, Spring, 207-226.
Stevenson, H. H., and Jarillo, J. C. (2007). A paradigm of entrepreneurship: Entrepreneurial management. In Entrepreneurship (pp. 155-170). Springer, Berlin, Heidelberg.
To, C. K., Martínez, J. M. G., Orero-Blat, M., and Chau, K. P. (2020). Predicting motivational outcomes in social entrepreneurship: Roles of entrepreneurial self-efficacy and situational fit. Journal of Business Research, 121, 209-222.
Tsai, K.H., Chang, H. C., and Peng, C. Y. (2014). Extending the link between entrepreneurial self efficacy and intention: A moderated mediation model. International Entrepreneurship and Management Journal, 12(2), 445-463.
Tsai, K. H., Chang, H. C., and Peng, C. Y. (2016). Refining the linkage between perceived capability and entrepreneurial intention: Roles of perceived opportunity, fear of failure, and gender. International Entrepreneurship and Management Journal, 12(4), 1127-1145.
Xiao, L., and Fan, M. (2013). Does social network always promote entrepreneurial intentions? An empirical study in China. Neural Computing and Applications, 24(1), 21-26.
Youssef, A. B., Boubaker, S., Dedaj, B., and Carabregu-Vokshi, M. (2021). Digitalization of the economy and entrepreneurship intention. Technological Forecasting and Social Change, 164, 120043.
Zhang, Y., Duysters, G., and Cloodt, M. (2014). The role of entrepreneurship education as a predictor of university students’ entrepreneurial intention. International Entrepreneurship and Management Journal, 10(3), 623-641.
Zhao, H., Seibert, S. E., and Hills, G. E. (2005). The mediating role of self efficacy in the development of entrepreneurial intentions. Journal of Applied Psychology, 90(6), 1265-1272.
Published
2023-04-30
How to Cite
TING NGOO, Yee; FONG CHEAH, Lee; MING TIONG, Kui.
Unveiling the Mindset of Future Digital Entrepreneurs in Malaysia.
Asian Journal of Research in Business and Management, [S.l.], v. 5, n. 1, p. 295-307, apr. 2023.
Available at: <https://myjms.mohe.gov.my/index.php/ajrbm/article/view/22277>. Date accessed: 29 sep. 2023.
Section
Articles
