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DETERMINANTS
OF ENTREPRENEURIAL INTENTIONS AMONG FRESH GRADUATES IN NIGERIA
ABSTRACT
The
importance of fresh graduates in a developing country like Nigeria cannot be
overemphasized, therefore, priority should be given to the study of the factors
that spur entrepreneurial intentions among graduates in Nigeria with a view to
promoting better policies and programs aimed at redirecting emphasis on
entrepreneurship as a tool for economic growth and development. This study
seeks to investigate empirically the factors influencing the entrepreneurial
intentions of fresh graduates. The area of this study covers attitude,
subjective norms, perceived behavioural control and self-efficacy and how these
influence the intentions of graduates to become entrepreneurs. Primary data
were collected through structured questionnaire and related literatures were
reviewed. Data was analyzed using descriptive statistics and hypotheses was
tested using one-way analysis of variance (ANOVA) technique. The finding
suggests that the four factors examined has significant relationship with entrepreneurial
intentions. It was therefore recommended that entrepreneurial values be
promoted among graduates and graduates should be exposed to the skills required
by entrepreneurs.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The role of
intentions has been acknowledged to be relevant in the managerial literature
(Sutton, 1998). Studies have shown that intentions have the ability to predict
both individual behavior (Ajzen, 1991) and organizational outcomes such as
survival, development and growth (Mitchel, 1981). Hence, the capability to
understand and predict intentions becomes a point of interest for both managers
and entrepreneurs (Tubbs and Ekeberg, 1991).
Intentions
have been proved to be the best predictors of individual behaviours
particularly when the behavior is rare, hard to observe or involves
unpredictable time lags. The establishment of new ventures and the creation of
new values in existing ones, which have been identified by Bird (1988) as the
two outcomes of entrepreneurial intentions are good examples of such
behaviours. It has been argued that most behaviours of social relevance such as
health-related behaviours or the establishment of new organizations are under
volitional control.
Intention
refers to a state of mind directing a person’s attention (and therefore
experience and action) towards a specific object or path in order to achieve
something. Entrepreneurial intention refers to a cognitive representation of
actions to be implemented by individuals to either establish new independent
venture or create new value within existing companies.
It is
certainly true that entrepreneurial ideas begin with inspiration; though
intentions are needed in order for them to become manifest. Krueger (2000),
argued that individual do not start a business as a reflex, but they do it
intentionally. Hence, especially at the birth of an organization, the impact of
entrepreneur’s intention is predominant; as a consequence, the founder’s
intention determines the form and direction of a nascent organization at its
inception.
1.1 STATEMENT OF PROBLEM AND RESEARCH
QUESTIONS
The level of
unemployment of graduates in Nigeria has become a national issue as the numbers
of graduates from public and private higher educational institutions that join
the job market increases each year. Academic qualifications can no longer
guarantee immediate employment upon graduation, instead graduates are required
to show a positive attitude towards the changing job market by investigating
entrepreneurship as a possible basis for a career. In fact entrepreneurship
would help these new graduates develop their own career and also ease the
current unemployment issue by expanding the job market. Entrepreneurship is
therefore the solution to the problem of unemployment.
The ability
of new graduates to engage in entrepreneurial behaviour depends on a number of
factors, thus there is need to conduct a study focusing on the entrepreneurial
intentions and the factors affecting new graduates decision to engage in
entrepreneurial behaviour.
This will
therefore necessitate the following questions:
1 What is the effect of attitude
on entrepreneurial intention?
2 What is the effect of subjective
norms on entrepreneurial intention?
3 What is the effect of perceived
behavioural control on entrepreneurial intention?
4 What is the effect of
self-efficacy on entrepreneurial intention?
1.2 RESEARCH HYPOTHESES
The
following hypothesis will be tested in the study:
Ho1. There is no significant relationship between
Perceived behavioural control and entrepreneurial intentions.
Ho2. There is no significant relationship between
self-efficacy and entrepreneurial intentions.
Ho3. There is no significant relationship between
Attitude and entrepreneurial intentions.
Ho4. There is no significant relationship between
Subjective norm and entrepreneurial intention.
1.3 OBJECTIVES OF THE STUDY
The major
aim of this study is to determine and investigate the factors influence on the
entrepreneurial intentions of fresh graduates. Other accessory objectives
includes
2 To determine the effect of attitude on
entrepreneurial intentions
3 To determine the effect of
subjective norm on entrepreneurial intentions
4 To determine the effect of
perceived behavioural control on entrepreneurial intentions
5 To determine the effect of
self-efficacy on entrepreneurial intentions.
1.4 SIGNIFICANCE OF THE STUDY
Several
research studies exist in the field of entrepreneurship and enrepreneurship
intentions of university students (Turker and Selcuk, 2008) and fresh graduates
in Nigeria (Shittu and Dosunmu, 2014). There is no existing study on the
factorial analysis of entrepreneurial intention among fresh graduates in
Nigeria. The only study close to this study is that of shiitu and Dosunmu,
(2014) but it only looked at family background as a factor affecting
entrepreneurial intention. Hence this study is significant to the extent that
is seeks to fill this knowledge gap by examining other factors such as
attitude, subjective norm, perceived behavioural control and self-efficacy and
their impact on entrepreneurial intention of fresh graduates in Nigeria.
The study
will also form the basis for further studies and contribute to existing body of
literatures in the field of entrepreneurship. It will also serve as a pointer
to the solution of the problem of unemployment of fresh graduates in Nigeria.
1.5 LIMITATIONS OF THE STUDY
Several
challenges were encountered in this study which are considered as limitations.
Firstly, this research study is entirely based on self-reported measures. A
social desirability bias may appear in our study because subjects sometimes
respond to surveys in a manner that make themselves meet society’s desires. An
anonymity guarantee was reassured to the respondents. Some evidence shows that
a self-report of dishonest behaviour can be quite accurate and the bias should
have no impact on the testing of the model (Beck and Ajzen, 1991; Becker et
al., 2006). Second, the dependent variable used in this study is the intention
to engage in entrepreneurial behaviour rather than the actual behaviour itself.
Even though many researchers have indicated that behavioural intention is an
adequate proxy of actual behaviour (Allen, Fuller and luckett, 1998), the self-report
method is still subjective to the bias of CMV.
Lastly,
despite its extensive application, theory of planned behaviour has been
criticized that it does not sufficiently elicit affective aspects for making
decision. By introducing affective variables such as fear, mood and enjoyment,
the variance explained in intention can be greatly increased. Therefore future
research might consider including affective variables into the theory of
planned behaviour.
1.6 SCOPE OF THE STUDY
This study
focus specifically on the factors affecting entrepreneurial intentions of fresh
graduate in Nigeria. It examines four factors such as attitude, subjective
norms, perceived behavioural control and self-efficacy. The study is restricted
to only fresh graduates in Delta State, issele-uku NYSC camp. It is hoped that
the views of these fresh graduates will reflect the views of other fresh
graduates in the country.
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