Determinants of Entrepreneurial Intention and the Role of

Entrepreneurial Education: An Analysis in the Ecuadorian

University Context

Fausto Calderón Pineda

, Juan Carlos Olives Maldonado

, Roxana Álvarez Acosta

José Xavier Tomalá Uribe

and Mercedes Freire Rendón

Peninsula of Santa Elena State University, Av. Principal, La Libertad, Ecuador

Keywords: Entrepreneurial Intention, Entrepreneurial Education Role, Entrepreneurship Education, Innovation,

Entrepreneurship Teaching.

Abstract: The objectives of this research were, first, to determine the incidence of determining factors in the

entrepreneurial intention (EI) of university students, with a mixed model based on the Theory of Planned

Behavior (TPB) and the Entrepreneurial Event Model (EEM), and with this, to propose guidelines for the

learning process of entrepreneurship that promote entrepreneurial intention in university students. The study,

with a quantitative approach, used the selected sampling technique (simple random sampling) from an

Ecuadorian public university with a population of 8,500 students. It was revealed that the three dimensions

analyzed: "university context", "perceived control" and "entrepreneurial attitude" have a positive and

significant impact on entrepreneurial intention. It is expected that the findings will contribute to improve the

effectiveness of entrepreneurship programs offered by higher education institutions.

1 INTRODUCTION

This study arises as one of the products of the project

on innovation management and technology transfer

through incubation systems and sustainable business

acceleration in the province of Santa Elena,

implemented by the School of Administrative

Sciences of the Peninsula University of Santa Elena.

The objective of this project is to create an ecosystem

for the creation of startups in the university context

and increase the competitiveness of microenterprises

through disruptive innovation (products and/or

services, processes, and business models) within a

culture of high-value entrepreneurship.

Entrepreneurship and innovation have been

preferred allies for Ecuadorians when facing difficult

economic situations. It is not surprising therefore that

Ecuador is considered one of the most entrepreneurial

countries in the world, its rate grew by 4.7% due to

https://orcid.org/0000-0001-5425-1057

https://orcid.org/0000-0001-8710-1995

https://orcid.org/0000-0002-4782-6630

https://orcid.org/0000-0002-0198-1782

https://orcid.org/0000-0002-7542-8373

the pandemic, especially in the digital transformation

and innovation segments. AEI (2021).

Entrepreneurship has represented one of the great

challenges for the economic development of a

country. Although it may seem that entrepreneurship

has an implicit relationship with people who possess

innate qualities, however, its development has been

possible thanks to university education, with its

curricula and study plans at all levels of education

(Arango-Boter et al., 2020)

In order to strengthen the process of conversion

of university students to become entrepreneurs, it is

necessary to analyze in greater depth the determining

factors associated with entrepreneurial intention in

different contexts (Ozaralli & Rivenburgh, 2016). In

this regard, there are some theories that demonstrate

entrepreneurial intentionality under the influence of

socio-cultural aspects that can and should be

Pineda, F., Olives Maldonado, J., Acosta, R., Tomalá Uribe, J. and Rendón, M.

Determinants of Entrepreneurial Intention and the Role of Entrepreneurial Education: An Analysis in the Ecuadorian University Context.

DOI: 10.5220/0011604100003581

In Proceedings of the 2nd International Conference on Finance, Information Technology and Management (ICFITM 2022), pages 35-41

ISBN: 978-989-758-628-6

 2023 by SCITEPRESS – Science and Technology Publications, Lda. Under CC license (CC BY-NC-ND 4.0)

strengthened. (Fragoso, R., Rocha-Junior, W., &

Xavier, A. 2019).

It should also be noted that, with regard to the

study of entrepreneurial behavior, several authors

have focused on the analysis of the intention to

become self-employed. (Bird, 1988; Davidsson,

1995; Douglas, 1999; Krueger y Carsrud, 1993;

Reitan, 1996; Robinson, Stimpson, Huefner y Hunk,

1991; Shapero y Sokol, 1982).

1.1 Theory of Planned Behavior (TPB)

The Theory of Planned Behavior (TPB), by Izek

Ajsen (1991), contributes to the ways of predicting,

understanding and positively modifying people's

behavior, since behavior can be planned. This theory

is a successor to the theory of reasoned action, and it

was because it was discovered that behavior was not

entirely voluntary and under control that this gave rise

to the variable of perceived behavioral control, a

fundamental element of the TPB, and is closely linked

to entrepreneurial intention.

Intention relates to antecedents and subsequent

behavior (Kautonen et al., 2011). According to the

theory of planned behavior, both intentionality and

the different behaviors assumed by a person have

three basic determining factors: personal, social

context and perceived control.

In the words of Al-Jubari et al. (2019), TPB is

oriented to explain and predict human behavior as its

basic purpose. There are other theories based on this

analogy and characteristics, such as the model

proposed by Shapero and Sokol. (1982), set forth

below.

1.2 Enterprise Event Model (Eem)

Shapero and Sokol's Business Event Model (1982),

and it refers to entrepreneurial self-efficacy and is

undoubtedly one of the most cited models in the field

of entrepreneurship (Al-Jubari et al., 2019; Bandura,

1977; Veciana et al., 2005; Sharahiley, 2020). This

model comprises three key elements that have a direct

or indirect degree of influence on the entrepreneurial

intention of university students to start a business: a)

perceived desirability, which refers to the interest that

a university student may have in starting a business or

startup. According to Tarrats-Pons et al. (2015), this

factor is associated with the level of perception of a

university student or student about the way of

thinking and acting of people representing their

closest social circle, in terms of the possibility of

starting a business, this gives them a sense of

emotional support.

In this regard Sharahiley (2020), added that the

propensity to act is the inclination and preferences of

the students to start their own entrepreneurship,

taking as a reference the perceived viability and self-

confidence, which will serve as an impulse for the

action of entrepreneurship.

It is important to note that TBP has been

characterized by various meta-analyses in some

countries and were encouraging, such as that

attitudes, subjective norms and perceived behavioral

control had an impact of 39% variation in terms of

entrepreneurship intentions (Schlaegel and Koenig,

2011).

In this regard, Kautonen, et al. (2013) carried out

a work on the prediction of intentions and behavior in

relation to the creation and implementation of

microbusinesses with time series (2006 and 2009) in

the economically active population in Finland and as

a result it was obtained that both attitude, subjective

norms and perceived control of behavior were

considered as predictors of high significance in

business intention

There is much other research done regarding the

validity of the prediction of intentions and behaviors

when the variable of business education and training

exists (Bae, T.J., S. Qian, C. Miao & J.O. Fiet, 2014).

1.3 Combined Model

For the purposes of this study, a model oriented to

entrepreneurial intention-action will be built,

combining the different variables of the TPB model

of planned behavior as developed by Maluk O (2018)

and the variables of the Shapero and Sokol's business

event model (1982) will be the one that best fits the

different combinations that are identified in the

measurement models. See figure 1.

For the purposes of this study, a model oriented to

entrepreneurial intention-action will be built,

combining the different variables of the TPB model

of planned behavior as developed by Maluk O (2018)

and the variables of the Shapero and Sokol's business

event model (1982) will be the one that best fits the

different combinations that are identified in the

measurement models. See figure 1.

Figure 1: Combined model adapted from Ajzen (1991);

Shapero y Sokol (1982).

ICFITM 2022 - SECOND INTERNATIONAL CONFERENCE ON FINANCE, INFORMATION TECHNOLOGY AND MANAGEMENT

1.4 Education for the Development of

Entrepreneurship

Undoubtedly, one of the definitions that best fit

entrepreneurship is what is considered a highly

critical activity that encompasses the discoveries,

identification, evaluation and use of opportunities

with certain productive factors oriented to the

production process, in an established period. [14].

It has been evidenced the influence that formal

business education tem-prana has on students, their

attitudes, the choice of their career to follow and their

intention to undertake. This type of early education

allows the development of capacities, skills and

abilities, through knowledge and training. Students

are more likely to access the business world early and

an extension of the labor market is achieved with it

(Rauch & Hulsink. 2015).

However, some authors question the effectiveness of

academic programs, due to inconsistencies and

problems of relevance in the contents (Soria-Barreto

et al. 2016; Among the difficulties found are the

methodologies used (Westhead et al,. 2001) This

scenario represents a dilemma for researchers and

calls into question the role of entrepreneurial

education, that is, whether or not entrepreneurship

can be taught.

2 METHODOLOGY

This research has a quantitative approach, ranging

from the identification of the variables, the analysis

of the consistency of the data collection instrument,

descriptive analysis of the dimensions, and even the

deductive contrast of the hypotheses of the

relationship between the variables. For this last

process, it is necessary to apply a correlational type

of scope in the research.

The total study population was 8,500 students at

the Peninsula Santa Elena State University (UPSE,

for its acronym in Spanish) during the period 2021-2.

Accordingly, a probabilistic sampling was applied,

since it seeks to generalize the results obtained from

the sample, in order to circumvent the limitations that

exist when it is necessary to collect information from

the entire population through a census. Starting from

a population with homogeneous characteristics, the

selected sampling technique was Simple Random

Sampling (SRS).

Being quantitative research, the technique applied

was the on-line survey. The instrument elaborated

from this premise, was elaborated in relation to the

dimensions described in the conceptualization of each

study variable, which are: University context,

Entrepreneurial attitude, Perceived control, and

Entrepreneurial intention.

For a better description and methodological

treatment, three phases are required:

The first is to demonstrate the statistical

confidence of the instrument applied, by means of

Cronbach's Alpha test.

Cronbach's Alpha is a method for determining the

reliability and trustworthiness of a set of data so that

the theoretical construct is as relevant as possible. The

result of applying this indicator admits values

between zero and one; for values close to one, the

higher the internal consistency of the group of

variables and dimensions; and for a lower

consistency, for values close to zero, the higher the

internal consistency of the group of variables and

dimensions (Welch & Comer. 1988).

For authors such as George & Mallery (2003),

suggest intervals based on the result of the indicator,

and thus verify the general condition of the

instrument. The values have the following scale:

excellent, good, acceptable, questionable, poor and

unacceptable.

The second phase provides statistical evidence of

the relationships or not of the study dimensions,

through the application of the Pearson or Spear-man

correlation test, depending on the parametric

normality or not of the variables described in the data

collection instrument.

The hypotheses to be formulated for the

parametric or non-parametric contrast of the data are

as follows:

Ho: Data derived from the survey instrument are

from a normal distribution (parametric).

Ha: Data derived from the survey instrument are

not from a normal distribution (non-parametric).

Based on the significance, if it is greater than

0.05, the null hypothesis (Ho) is accepted; if it is less,

the alternative hypothesis is accepted (Ha).

To evaluate the relationship between the study

variables, tests are applied based on the normality

results. If the data are parametric, Pearson's test is

applied, but if the data turn out to be non-parametric,

Spearman's test is applied.

The hypotheses to be formulated for the contrast

of the relationship between variables are as follows:

First reference: University Context and

Entrepreneurial Intention.

Ho: There is no relationship between the

dimensions University Context and Entrepreneurial

Intention; Significance > 0.05.

Determinants of Entrepreneurial Intention and the Role of Entrepreneurial Education: An Analysis in the Ecuadorian University Context

Ha: There is a relationship between the

dimensions University Context and Entrepreneurial

Intention; Significance < 0.05.

Second reference: Entrepreneurial Attitude and

Entrepreneurial Intention.

Ho: No relationship between the dimensions

Entrepreneurial Attitude and Entrepreneurial

Intention; Significance > 0.05.

Ha: There is a relationship between the

dimensions Entrepreneurial Attitude and

Entrepreneurial Intention; Significance < 0.05.

Third reference: Perceived Control and

Entrepreneurial Intention.

Ho: No relationship between the dimensions

Perceived Control and Entrepreneurial Intention;

Significance > 0.05.

Ha: There is a relationship between the

dimensions Perceived Control and Entrepreneurial

Intention; Significance < 0.05.

Based on the significance, if it is greater than

0.05, the null hypothesis (Ho) is accepted; if it is less,

the alternative hypothesis (Ha) is accepted.

The third phase, the aim is to develop a logistic

probability model (logit) that determines the

probability in which the conditions of the university

context, entrepreneurial attitude, perceived control

explain a tendency for the student to have a higher

entrepreneurial intention

3 RESULTS AND DISCUSSION

To determine the sample before collecting

information, it is necessary to apply the MAS

technique. The following are the results:

The following are the results:

𝑛

𝑁∗𝑍



∗𝑝∗𝑞

𝑒



∗



𝑁1



 𝑍



∗𝑝∗𝑞

1

Where:

N; Population: 8,500

Z; Z-value of normal distribution: 1.96

P; Probability of success: 0.5

Q; Probability of failure: 0.5

E: Statistical error: 0.05

The result of applying formula (1) is 368 university

students. To guarantee the representativeness of the

sample and therefore minimize the error at the

moment of generalizing population data, it is

necessary to distribute the selection of the sample

elements randomly by careers. In addition, since this

was an on-line survey, the responses exceeded this

number as a sample, which also guarantees this

generalizing context.

According to the first phase, where the statistical

consistency of the data collection instrument is

evidenced, it is necessary to determine the Cronbach's

Alpha indicator. The results are as follows:

Table 1: Reliability statistics.

Cronbach's Alpha

0.953

Source: Data processed through the SPSS program

based on the data obtained in the in-situ data collection.

According to the results, the value of Cronbach's

Alpha is greater than 0.8, which indicates that the

reliability of each of the questions in the instrument is

"Excellent", which statistically demonstrates that the

results and interpretations derived from the

instrument will be consistent, providing significant

information.

In the second phase, the correlation test of

variables will be applied. For this purpose, it is

determined whether the instrument data are

parametric or non-parametric, since this depends on

the type of test to be applied. The following are the

results:

Table 2: Normality test.

Variables Kolmogorov-Smirnov

Statistical Significance

University context 0.256 0.000

Entrepreneurial attitude

0.145 0.000

Perceived control

0.115 0.000

Entrepreneurial intent

0.112 0.000

Source: Data processed through the SPSS program based on the

data obtained in the in-situ data collection. The Kolmogorov-

Smirnov test is applied when data are equal to or greater than 50

According to the results, the data derived from

each item of the information gathering instrument

turn out to be non-parametric, since the null

hypothesis (Ho) is rejected in favor of the alternative

(Ha), that is, they do not come from a normal

distribution, since the significance of the two

variables under study is less than 0.05.

Since the results do not come from a normal

distribution, to contrast the correlation between the

variables under study, Spearman's test analysis is

applied. The following are the results:

First Reference: University Context and

Entrepreneurial Intention.

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Table 3: Spearman correlation test.

Variable 1 Criteria

Variable 2

Entrepreneurial

intent

University

context

Spearman's Rho 0.540*

Significance 0.000

N 1,078

Source: Data processed through the SPSS program based on the

data obtained in the in-situ data collection.

* The indicator is a value between 1 and -1, the closer it is to 1, the

higher the positive-direct correlation; if it is close to -1, the higher

the negative-indirect correlation.

According to the results of the significance of

Spear-man's Rho, the null hypothesis (Ho) is rejected

in favor of the alternative hypothesis (Ha), i.e. there

is a medium direct relationship between the variables

"University context" and "Entrepreneurial intention";

which indicates that, if the university context is

strengthened, with projects with an entrepreneurial

approach, it can be positively stimulated by

increasing the intention of students to become

entrepreneurs.

Second Reference: Entrepreneurial Attitude and

Entrepreneurial Intention.

Table 4: Spearman correlation test.

Variable 1 Criteria

Variable 2

Entrepreneurial

intent

Entrepreneurial

attitude

Spearman's Rho 0.731*

Significance 0.000

N 1,078

Source: Data processed through the SPSS program based on the

data obtained in the in-situ data collection.

* The indicator is a value between 1 and -1, the closer it is to 1, the

higher the positive-direct correlation; if it is close to -1, the higher

the negative-indirect correlation.

According to the results of the significance of

Spear-man's Rho, the null hypothesis (Ho) is rejected

in favor of the alternative hypothesis (Ha), that is,

there is a direct medium relationship between the

variables "Entrepreneurial attitude" and

"Entrepreneurial intention"; which indicates that, if

actions are proposed to stimulate good

entrepreneurial attitude, this will cause the student's

intention to become an entrepreneur to increase.

Third Reference: Perceived Control and

Entrepreneurial Intention.

Table 5: Spearman correlation test.

Variable 1 Criteria

Variable 2

Entrepreneurial

intent

Perceived

control

Spearman's Rho 0.732*

Significance 0.000

N 1,078

Source: Data processed through the SPSS program based on the

data obtained in the in-situ data collection.

* The indicator is a value between 1 and -1, the closer it is to 1, the

higher the positive-direct correlation; if it is close to -1, the higher

the negative-indirect correlation.

According to the results of the significance of

Spear-man's Rho, the null hypothesis (Ho) is rejected

in favor of the alternative hypothesis (Ha), i.e. there

is a direct medium relationship between the variables

"Perceived control" and "Entrepreneurial intention";

which indicates that, if a perceived control in

entrepreneurial matters is adequately strengthened,

the entrepreneurial intention of the student will

increase significantly.

Finally, in the third phase, the main logistic

probability model is determined. The following are

the references:

Based on Novales A. (2005), Binomial Logit

models are linear references between a dependent

variable and one or more independent variables in

which, according to their significance, they would

explain the dependent variable. The relationships

between this system do not refer to magnitudes but

only to the direction of forces or direction of action,

which is evidenced by the sign of the independent

variable. As long as it has a positive sign, it is

suggested that the greater the incidence of this

variable, the higher the value of the probability of

occurrence of the dichotomous dependent variable

increases, and if it has a negative sign, the relationship

is contrary to this statement.

In this sense, a binomial logistic probability

model is used to explain the behavior of the

dimensions under study.

Dependent Variable: Entrepreneurial intent

Coding: 1: Has entrepreneurial intentions; 0: No

entrepreneurial intentions.

Coefficient Estimates:

Table 6: Estimates of the coefficients of the independent

variables.

Coefficients Sig.

Variables

University context 0.45 0.03

Entrepreneurial

attitude

0.63 0.00

Perceived control 0.419 0..12

Source: Data provided by the IBM SPSS for Windows program

for the development of the binomial logistic probability method for

the Entrepreneurial Intention dimension.

Determinants of Entrepreneurial Intention and the Role of Entrepreneurial Education: An Analysis in the Ecuadorian University Context

As mentioned in the methodology reflected in, in

the probability models the coefficients do not reflect

the magnitudes of change on the dichotomous

dependent variable, but only the relationship between

them, i.e. direct or indirect (positive or negative).

According to the results, the three dimensions

contribute significantly to increase the probability

that students have the intention to become

entrepreneurs (dependent variable).

For the calculation of the probabilities, the initial

data of the dimensions and the coefficients of the

equation must be replaced in the exponential

transformation expression 2.

𝑃𝑟𝑜𝑏



𝑝

𝑝





exp



𝑝

𝑝



1exp



𝑝

𝑝







The results:

Table 7: Estimates of the coefficients of the independent

variables in probabilities



ln(p/1+p) Probabilities

Variables

University

context

-0.254 0.437

Entrepreneurial

attitude

-0.744 0.322

Perceived

control

-0.590 0.357

Source: Data provided by IBM SPSS for Windows for the

development of the binomial logistic probability method for

the Entrepreneurial Intention dimension.

4 CONCLUSIONS

Based on the results, the following main conclusions

can be drawn:

The three dimensions analyzed throughout this

research contributed in a relevant way to an increase

in the probability that students have a greater

intention to undertake are, in their order:

The "university context" contributed with

43.70%, "perceived control" with 35.70%,

"entrepreneurial attitude" with 32.20%.

This indicates that, if the university context is

strengthened, with projects with an entrepreneurial

approach, it can be positively stimulated by

increasing the students' entrepreneurial intention.

Likewise, if a perceived control in entrepreneurial

matters is adequately strengthened, the student's

entrepreneurial intention will increase significantly

and finally, it is concluded that if actions are proposed

to stimulate a good entrepreneurial attitude, this will

cause the student's entrepreneurial intention to

increase. 2) The validity of the combined model

(Theory of Planned Behavior -TPB and Enterprise

Event Model -EEM) was reinforced as the basis for

explaining the intention of the behavior in this study.

University entrepreneurship education can have

notable effects on entrepreneurial intention, but it will

have a greater initial response in students with certain

proactive characteristics. Therefore, a previous

diagnosis of the students can help predict the real

impact of the contents, especially of the

entrepreneurship subjects, on entrepreneurial

intention.

This study aims to provide certain valid

guidelines for the development of appropriate

training programs in entrepreneurship and

innovation, with a hybrid modality, which promotes

the development of individual and collective

capacities, abilities and skills in entrepreneurship and

innovation, with a comprehensive approach, not only

from an economic, administrative and/or accounting

point of view, but also considering all the contexts:

social, cultural and technological.

The reflections derived from the results of the

study indicate that the most important way in the

model is the one that goes from attitudes towards

entrepreneurial intention

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