This study examines the impact of formal education, students' attitudes towards change, and their entrepreneurial self-efficacy on their entrepreneurial intentions during their time in private higher education institutions (PHEIs). Motivated by high unemployment rates and limited job opportunities for graduates, the research employed a mixed-method approach with descriptive and explanatory designs. A total of 460 self-administered questionnaires were distributed to graduate students at Admas, Harambee, Rift Valley, and Unity Universities, with 411 returned, yielding an 89.34% response rate. The Collected data was analyzed using SPSS V26, and employed descriptive and multivariate analysis. Thus, the regression analysis indicated that 71.6% of the variation in students' entrepreneurial intentions is explained by the predictors in the model (R2= .716, p<0.05), demonstrating substantial explanatory power. The result indicates that all independent variables; formal Education, Attitude towards change, and entrepreneurial Self-efficacy influences the entrepreneurial intention of graduate program students. However, Attitude towards Change (AtC) and Entrepreneurial Self-Efficacy (ESE) have significant influence on the entrepreneurial intention of graduate students’ while the influence of Formal Education (FE) was less significant. Finally, recommendations for the PHEIs, policymakers, and researchers have been highlighted.
Table of Contents
List of Tables
List of Figures
Abstract
CHAPTER ONE INTRODUCTION
1.1. Background of the study
1.2. Statement of the Problem
1.3. Research Questions
1.4. Objectives of the Study
1.4.1. General objective
1.4.2. Specific objectives
1.5. Significance of the Study
1.6. Scope of the Study
1.7. Limitations of the Study
CHAPTER TWO REVIEW OF RELATED LITERATURE
2.1. Introduction
2.1.1. Brief History of Ethiopian PHEIs
2.2. Definition of Entrepreneurship & Entrepreneurial Intentions
2.2.1. Entrepreneurship
2.2.2. Entrepreneurial Intention
2.3. Theoretical Framework
2.4. Factors Affecting Entrepreneurial Intention
2.4.1. Formal Education
2.4.2. Attitude towards Change
2.4.3. Entrepreneurial Self-efficacy
2.5. Conceptual Framework
2.6. Hypothesis
CHAPTER THREE THE RESEARCH METHODOLOGY
3.1. Introduction
3.2. Description of the Study Area
3.3. Research Design
3.3.1. Type of Study
3.4. Research Approach
3.5. Population & Sampling Techniques
3.5.1. Target Population
3.5.2. Sample Technique and Sample Size
3.6. Sampling Techniques
3.7. Sources of Data
3.8. Validity and Reliability of the Measurement
3.8.1. Validity
3.8.2. Reliability of the Measurement
3.9. Data Collection Instruments
3.10. Data Analysis Methods
3.11. Ethical Considerations
CHAPTER FOUR 4. DATA PRESENTATION, ANALYSIS AND INTERPRETATION
4.1. Introduction
4.2. Demographic Characteristics of Respondents
4.3. Descriptive Analysis of Measurement Items
4.4. Correlation Analysis of Data
4.5. Multivariate Analysis of Data
4.6. Hypothesis Testing
4.7. Analysis of Qualitative Data
4.8. Analysis of Qualitative Data Collected from Students
CHAPTER FIVE CONCLUSION & RECCMMONDATIONS 56
5.1. Conclusion
5.2. Recommendations
REFERENCES
APPENDIXES
ACKNOWLEDGEMENTS
First and foremost, I would like to thank almighty God for enabling me to bear the whole weight of my research and study.
My special thanks go to advisor Mebrahtu L.Teklehaymanot (PhD) for his continuous and constructive comments, follow-ups and shaping the entire study. His academic, personal support and insightful guidance were instrumental in the findings and completion of this thesis.
I am deeply grateful to my families for their endless tolerance and support throughout the study. My office colleagues (Zelalem T. (PhD), Dr.Azeb G. and Filmon T.) also deserve special thanks for their solidarity and assistance during my engagement in this thesis.
I would also like to express my sincere appreciation to the academic vice presidents, vice presidents of the school of postgraduates, deans, and program coordinators at Admas, Harambee, Rift Valley, and Unity Universities for opening their doors to such researches, for their invaluable support and collaboration.
Lastly, I extend my best wishes and gratitude to the graduate students of the aforementioned private universities. I wish them all success in their future careers.
ABBREVIATIONS AND ACRONYMS
EI Entrepreneurial Intention(s)
ETA Education and Training Authority
FDRE Federal Democratic Republic of Ethiopia
HERQA Higher Education Relevance and Quality Agency
MoE Ministry of Education
MoSHE Ministry of Science and Higher Education
MoU Memorandum of Understanding
PHEIs Private Higher Education Institutions
PHETVETA Private Higher Education & TVET Association
PUs Private Universities
SCT Social Cognitive Theory
TEE Theory of Entrepreneurial Event
TPB Theory of Planned Behavior
List of Tables
Table 3.1: Distribution of Samples
Table 3.2: Reliability Statistics
Table 4.1: Gender Distribution of Respondents
Table 4.2: Age Distribution of Respondents
Table 4.3: Current Field of Study
Table 4.4: Current University
Table 4.5: Descriptive Analysis of Measurement Items
Table 4.6: Descriptive Analysis of Measurement Items: Formal Education
Table 4.7: Descriptive Analysis of Measurement Items: Attitude towards Change
Table 4.8: Descriptive Analysis of Measurement Items: Entrepreneurial Self-Efficacy
Table 4.9: Descriptive Analysis of Measurement Items: Students Entrepreneurial Intention
Table 4.10: Pearson Correlation of Variables
Table 4.11: Model Summary
Table 4.12: Collinearity Statistics
Table 4.13: Independence of Variables
Table 4.14: Multiple Regression Results
Table 4.15: Summary of ANOVA
Table 4.16: Summary of Regression Coefficients
Table 4.17: Summary of Collected Qualitative Data
Table 4.18: An overview of the research's questions, theories, and conclusions
List of Figures
Figure 2.1: Conceptual Framework
Figure 4.1: Correlation Coefficient Scale (Saunders, 2009)
Figure 4.2: Linearity test
Figure 4.3: Normality test
Figure 4.4: P-P Normality test
Abstract
This study examines the impact of formal education, students' attitudes towards change, and their entrepreneurial self-efficacy on their entrepreneurial intentions during their time in private higher education institutions (PHEIs). Motivated by high unemployment rates and limited job opportunities for graduates, the research employed a mixed-method approach with descriptive and explanatory designs. A total of 460 self-administered questionnaires were distributed to graduate students at Admas, Harambee, Rift Valley, and Unity Universities, with 411 returned, yielding an 89.34% response rate. The Collected data was analyzed using SPSS V26, and employed descriptive and multivariate analysis. Thus, the regression analysis indicated that 71.6% of the variation in students' entrepreneurial intentions is explained by the predictors in the model (R2= .716, p<0.05), demonstrating substantial explanatory power. The result indicates that all independent variables; formal Education, Attitude towards change, and entrepreneurial Self-efficacy influences the entrepreneurial intention of graduate program students. However, Attitude towards Change (AtC) and Entrepreneurial Self-Efficacy (ESE) have significant influence on the entrepreneurial intention of graduate students’ while the influence of Formal Education (FE) was less significant. Finally, recommendations for the PHEIs, policy makers, and researchers have been highlighted.
Key words: Entrepreneurship, Entrepreneurial Intention, Private Higher Education Institutions
CHAPTER ONE INTRODUCTION
This study focuses on the Determinants of Entrepreneurial intention among Ethiopian University Graduate Students. This chapter outlines background of the study, Statement of the problem, research questions, and objectives of the study, significance and scope of the study. What is more, definition of key terms, and organization of the study are part of this chapter.
1.1. Background of the study
In Ethiopia and worldwide, there is widespread recognition of the significance of entrepreneurship, particularly in launching new ventures, both from economic and social standpoints. There has been a notable increase in academic and public attention towards students as the potential entrepreneurs of tomorrow. However, despite past research efforts, many questions regarding entrepreneurial intention and the role of entrepreneurship among recent students remain unresolved.
Currently, significant focus has been given to entrepreneurs, entrepreneurship, entrepreneurial attitudes, and entrepreneurial process by governments, corporate companies, and individuals. As an increasing number of individuals recognize the substantial contribution that small businesses make to a country's economic development.
Frederick, et al. (2007) defined entrepreneurship as a vibrant journey involving the transformation of ideas and the establishment of innovative solutions. It necessitates the dedication of energy and enthusiasm towards generating and executing novel concepts. Key elements of entrepreneurship encompass the readiness to undertake calculated risks, whether in terms of time, equity, or professional trajectory. Additionally, it entails the capacity to assemble a competent team, creatively gather essential resources, construct a robust business plan, and possess the foresight to identify opportunities amidst what may appear as disorder, inconsistency, or perplexity to others. With the above explanation of Frederick, et al. (2007), entrepreneurship encompasses more than just starting a business. While creating a business is an important aspect of entrepreneurship, it is not the whole story. They emphasize three key characteristics that define entrepreneurship: seeking opportunities, taking risks beyond the realm of security, and possessing the determination to bring ideas to fruition. These traits work together to shape a unique perspective called entrepreneurial intention.
Arthur & Hisrich (2011) also described the essence of entrepreneurship and its operation that individuals or companies taking action and can be characterized by three primary elements: initiative, willingness to take risks, and the introduction of innovative ideas or practices. These elements play a crucial role in shaping entrepreneurial intention (EI), which refers to an individual's inclination or desire to engage in entrepreneurial activities or pursue entrepreneurial career paths. The concept of Entrepreneurial Intention (EI) has been extensively studied and is widely recognized as a significant construct in the field of entrepreneurship. As a result, it has garnered considerable attention and interest within the entrepreneurship literature (Van Gelderen et al., 2015; Meoli et al., 2020). These represent their internal motivation and willingness to start their own businesses, become self-employed, or be actively involved in entrepreneurial endeavors. To this end, researches indicate several determinants influence entrepreneurial intention of individuals, amid these formal education, attitude towards change, and entrepreneurial self-efficacy are the major ones.
Many scholars like Krueger, et al. (2000), Linan, & Chen (2009), Thompson (2009), entrepreneurial intention is defined as the inclination or desire of graduates to engage in entrepreneurial activities or pursue entrepreneurial career paths. It represents their intention or willingness to start their own businesses, become self-employed, or be involved in entrepreneurial endeavors. Thus, Ismail et al. (2015) explained the term entrepreneurial intention as the term used to describe an individual's inclination to pursue entrepreneurial ventures. Intentionality can be defined as a mental state that directs an individual's focus, knowledge, and efforts towards a specific objective or course of action in order to achieve something (Adekiya & Ibrahim, 2016).
Recently, the entrepreneurial activities of citizens and their economic activities are becoming a public agenda in national, continental, and international summits, forums, and initiatives. As individuals/students transition from their educational journey, their inclination and willingness to embark on entrepreneurial ventures become crucial factors to explore. According to the researches done, Linan, et al. (2011), the entrepreneurial intention of graduates refers to their inclination and willingness to start their own business or engage in entrepreneurial activities
upon completing their education. This concept captures the graduates' desire and motivation to venture into entrepreneurial endeavors rather than seeking traditional employment or career paths. It signifies their conscious evaluation and decision to pursue entrepreneurial opportunities, take on the associated risks and responsibilities, and actively contribute to the creation of new ventures. Graduates with high entrepreneurial intention are driven by the desire for independence, the opportunity to implement their innovative ideas, and the potential to achieve personal and financial success through their own businesses. They exhibit a proactive mindset, actively seeking out entrepreneurial opportunities, and leveraging their knowledge, skills, and resources gained from their education to create value and make a positive impact on the economy.
The entrepreneurial intention, particularly among graduates, has got significant attention and is being mentioned by scholars as a pressing issue that researches should be conducted in researches. In particular, Solomon et al. (2019) call for more research to confirm that the entrepreneurial intentions of Ethiopian graduates need more study to conclude the situation, level, intentions and the challenges of entrepreneurial aspects. This is a good step that must be on the ground by setting well-designed tools that can foster the entrepreneurial intentions of graduates, formulating entrepreneurship incentives and practices, and addressing the problem of graduate unemployment in several policy documents such as poverty reduction policies
1.2. Statement of the Problem
World over, there is almost a consensus that entrepreneurial activities are driving engines for a broader and inclusive economic growth with a potential to address development challenges, including poverty, income inequitable distribution and high unemployment rates (e.g., Doran et al., 2018; Sanyang & Huang, 2010; Toma et al, 2014). These development challenges are highly prevalent in developing economies, such as Ethiopia (AfBD, 2022). For instance, Ethiopia’s public and private higher education graduates unemployment rate was reported as high as 42% in 2022 (www.thereporterethiopia.com/28322/, 03 December 2022 issue). Enhancing the entrepreneurial mindset, through incorporating entrepreneurial elements in education, can play pivotal roles in creating and boosting entrepreneurial jobs for youth; thus address the unemployment crisis and reduce the poor youth population (estimated to be as high as 80%) in Ethiopia (AfDB, 2013). Youth with entrepreneurial orientations may not only play in creating jobs for themselves and peers, they can also play significant roles in catalyzing socially innovate changes that benefit broader economic groups. Such endeavors, however, require an understanding of the factors that crucially determine the efforts of fostering entrepreneurial mindset is critical.
Research has documented several factors as determinants for the development of entrepreneurial intention among individuals (e.g., Fragoso et al., 2019; Koe et al., 2012; Popescu et al., 2016). In their study in Brazil, Fragoso et al (2019) examined how variables, such as, personality traits, training and entrepreneurial education, social recognition and self-efficacy influence the entrepreneurial intention of creating new ventures among Brazilian students. By taking Romania as their case, Proescu et al (2016) also investigated as to what factors determine students’ intention toward starting their own business. There also a few studies that investigated what and how different factors influence the entrepreneurial intention of students in Ethiopian universities (e.g., Amare, 2023; Tegegn et al., 2016). These few studies hint that additional and more research is needed in the topic to address more variables (as those focuses on demographic variables or a few variables such as locus of control, desire to change and perceived social valuation) and with a particular focus in public universities with little attention to the private higher education.
Since 1992, the private education sector has become a significant pillar in producing employees, leaders and harnessing Ethiopia’s human development index (Yirdaw, 2016). Whereas it is well documented that the growing efforts of the private education sector has promulgated a geographically expanded access to education (Nwuke, 2008; Tamrat & Tizazu, 2014), it is of importance to investigate how the formal ecosystem in the sector and developing entrepreneurial self-efficacy of the students nurtured by the private education sector have proved an entrepreneurial intention among the students. By addressing this question of what and how these factors are fostering an entrepreneurial intention among the graduate students, this study contribute a lot by bringing the private education entrepreneurship in Ethiopia to the entrepreneurial education discussion for entrepreneurial, high quality employees and leaders.
1.3. Research Questions
The research attempt to answer the following questions:
1. To what extent does the formal Education affect the PHEIs students’ entrepreneurial intention?
2. What is the effect of the PHEIs students’ attitude towards change on their entrepreneurial intention?
3. To what extent is entrepreneurial self-efficacy influencing the students’ entrepreneurial intention?
1.4. Objectives of the Study
1.4.1. General objective
The general objective of this study is to assess the determinants of entrepreneurial intention of students at the Private Universities of Ethiopia.
1.4.2. Specific objectives
The specific objectives of this study are:
> To assess the influence of formal education on students' entrepreneurial intention in Private Higher Education Institutions (PHEIs).
> To examine the impact of students' attitude towards change on their entrepreneurial intention in PHEIs.
> To evaluate the influence of entrepreneurial self-efficacy on graduate students’ entrepreneurial intention.
1.5. Significance of the Study
Identifying the factors that influence entrepreneurial intention among Ethiopian university graduate students is crucial for designing effective policies, educational programs, and support mechanisms to foster the national economy as well as to rectify the current educational policies. By uncovering these determinants, policymakers, educators, and stakeholders can develop targeted interventions that promote entrepreneurship and enhance the likelihood of successful ventures among university graduate students. The findings of this study contribute to the existing body of knowledge on entrepreneurial intentions and provide actionable insights for policymakers, educators, and stakeholders in Ethiopia, enabling them to develop strategies that effectively nurture a culture of entrepreneurship among university graduates.
1.6. Scope of the Study
This study focuses on assessing the Determinants of Entrepreneurial Intentions among Ethiopian University Graduate Students: Evidence from Private Universities. The selected Private Universities were selected from Addis Ababa and Adama, where their head offices are located. It is known that there are only five full pledged private Universities: Admas, Harambee, Rift valley, St.Mary Unity Universities, though St.Mary University was not a subject of this study. In this regard, this study was delimited in scope to the graduate students of private higher education institution where their campuses were easily accessible with the budget and time constraints of the researcher. Thus;
Subject Population: The specific emphasis of this thesis was Ethiopian graduate students attending their study in the private universities. This covers students from a variety of academic programs, but only 411 students are the subject of this study at private universities including Admas, Harambee, Rift Valley, and Unity.
Geographical Scope: This thesis specifically examines the determinants of entrepreneurial intentions among Ethiopian University Graduate Students: evidence from Private Universities. This thesis is conducted in Addis Ababa and Adama where the Head offices and Main campuses of these private Universities are located.
Methodological Scope: This thesis employed a combination of qualitative and quantitative research methods. The qualitative method employed interview in order to gain comprehensive insights from the leaders of graduate programs. The quantitative method was used to explain the data with descriptive and multivariate analysis.
Time Scope: This thesis is concentrated on the present and recent past, specifically focused on the determinants of entrepreneurial intentions of graduate students which the data was collected between April and July 2024.
1.7. Limitations of the Study
This study, focused on assessing the determinants of entrepreneurial intentions among Ethiopian university graduate students with evidence from private universities, encountered several limitations that should be acknowledged.
First and foremost, the closed door system of PHEIs was the main challenge that this study has encountered. Though the primary mission of HEIs is promoting research and development activities, the bureaucratic system hinders taking samples from students as well as the academic leaders; views from academic vice presidents, program coordinators, facilitators as well as other concerning bodies who are affiliated in their graduate programs.
This study was conducted on the graduate students of four Ethiopian private universities. As a result, not all higher education institution’s students in the nation may benefit equally from the findings, especially those who attend public universities or technical and vocational schools. Students' intents to start their own businesses may be influenced differently by private universities' special features and resources than by those of public universities.
This study employed a cross-sectional research design, which captures data at a single point in time. While this approach is useful for identifying associations and correlations, it limits the ability to establish causality: with different background and educational pathways that can have significant essence to their today’s entrepreneurial intentions.
CHAPTER TWO REVIEW OF RELATED LITERATURE
2.1. Introduction
2.1.1. Brief History of Ethiopian PHEIs
The database of FDRE Education and Training Authority, and scholars like Tamrat & Fetene (2020), and Yirdaw (2016), the growth of private higher education institutions (PHEIs) in Ethiopia can be mainly credited to the increasing need for tertiary education and the implementation of new policies aimed at encouraging private investment in the education sector. Yirdaw (2016) describes the development of PHEIs as non-existent before 1991 in Ethiopia. However, starting from 1992, there has been a notable emergence of private HEIs in the country. A total of 76 for-profit private HEIs, consisting of one university, three university colleges, 69 colleges, and three institutes, have been established since then.
With the new emergence of PHEIs in the past three decades, Tamrat & Fetene (2020) explained the process as follows. The introduction of policy changes by the Transnational Government of Ethiopia (TGE) in 1994, followed by the Federal Democratic Republic of Ethiopia (FDRE) in 1996, 2003, and 2019 paved the way for this expansion. Consequently, within a mere three decades (the past 33 years), Ethiopia has seen the emergence of 43 Public Higher Institutions alongside more than 380 Private Higher Institutions.
Tamrat (2022) described the Ethiopian private higher education institutions, like their counterparts in other countries, have flourished due to the shortcomings of the public sector. The reasons why students choose private institutions often stem from the inadequacies of the public higher education system. These include limited availability of spots in public universities, issues with peace and security outside the capital city, geographical distance from the capital, concerns about safety and security on campus, and shortcomings in the teaching methods and evaluation processes employed by instructors.
Now days, the PHEIs in Ethiopia are under the direct supervision of Education and Training Authority (ETA) the former Higher Education Relevance and Quality Agency (HERQA) at the national level, which have the authority to grant and/or deny their accreditation.
Private higher education institutions in Ethiopia indeed play a crucial role in expanding access to education By offering alternative avenues for tertiary education, these institutions help accommodate students who might not secure admission to public universities due to various reasons such as limited space or specific program offerings.
2.2. Definition of Entrepreneurship & Entrepreneurial Intentions
2.2.1. Entrepreneurship
Entrepreneurship is a widely acknowledged global phenomenon that lacks a precise singular definition. In the early 20th century, Schumpeter (1934) explored the role of entrepreneurship in driving innovation and implementing change within an economy by introducing novel products or processes. Kirzner (1973) defines entrepreneurship as a process of discovery, involving the recognition and pursuit of previously unnoticed, and often marginal, profit opportunities. Other definitions broadly associate entrepreneurship with specific economic activities, describing it as a process of identifying opportunities to create value and taking action on those opportunities (Schoof, 2006). From a practical perspective, Klapper et al. (2010) explain that entrepreneurship is generally understood as a process of generating new wealth, but when it comes to measuring entrepreneurship, the focus narrows down to the initiation of formal economic activities through legal enterprises.
To sum up, the definitions given above encompasses both formal and informal economic activities, including self-employment, with the goal of wealth creation. By adopting this broader definition, the study aims in investigating the Entrepreneurial Intentions of graduates in the Ethiopian Private Universities context.
2.2.2. Entrepreneurial Intention
It is known that many scholars have defined the Entrepreneurial intention of graduates in many ways and frame or references. According scholars of entrepreneurship like Frederick, et al. (2007), Entrepreneurship is a representation of success and perseverance in business. The forerunners of today's commercial triumphs are entrepreneurs. Their entrepreneurial essence, inventiveness, and sense of opportunity have made them the gold standard by which free enterprise is now judged. Within the free and open economies around the world, this standard is becoming the norm.
2.3. Theoretical Framework
2.3.1. Introduction to theories of entrepreneurial intentions
The theoretical foundations that support the exploration of entrepreneurial intentions serve as a cornerstone for comprehending and evaluating the elements affecting individuals' choices to engage in entrepreneurial endeavors. These frameworks offer valuable insights into the mental, social, and environmental aspects that mold entrepreneurial intentions and subsequent actions. Within this context, three notable theories widely employed in entrepreneurship research are the Theory of Planned Behavior (TPB), Theory of Entrepreneurial Event (TEE), and Social Cognitive Theory (SCT).
The Theory of Planned Behavior (TPB), introduced by Ajzen in 1991, suggests that an individual's inclination to participate in a specific behavior is influenced by their attitudes towards the behavior, subjective norms, and perceived behavioral control (Ajzen, 1991). Attitude toward behavior signifies an individual's assessment of the behavior as positive or negative, while subjective norms depict the impact of social expectations and norms on the behavior. Perceived behavioral control reflects the individual's confidence in their ability to execute the behavior successfully. TPB has found extensive application in exploring entrepreneurial intentions, offering a comprehensive framework for comprehending the cognitive and social processes influencing individuals' aspirations to embark on entrepreneurial ventures (Linan & Chen, 2009).
The Theory of Entrepreneurial Event (TEE), formulated by Shapero and Sokol in 1982, accentuates the significance of triggering events in instigating entrepreneurial intentions and subsequent behavior (Shapero & Sokol, 1982). According to TEE, individuals become cognizant of entrepreneurial opportunities through various triggers, including personal experiences, social networks, or alterations in their environment. These triggers prompt a cognitive shift, leading individuals to perceive the desirability and feasibility of entrepreneurship, thereby shaping their intentions and actions. The TEE framework underscores the importance of environmental factors and personal experiences in shaping entrepreneurial intentions, providing a valuable perspective for understanding the dynamic nature of entrepreneurial decision-making.
Social cognitive theory, developed by psychologist Albert Bandura, posits that learning occurs in a social context through observation, imitation, and modeling. It emphasizes the interaction between cognitive processes, behavior, and environmental influences. This theory provides valuable insights into the factors that influence entrepreneurial intention, which refers to an individual's willingness and readiness to engage in entrepreneurial activities.
By incorporating these three Theories; TPB, TEE and SCT frameworks, researchers can attain a holistic understanding of the cognitive, social, and environmental factors influencing entrepreneurial intentions and subsequent behaviors. This integrated approach facilitates a more nuanced examination of the interplay between individual-level factors, social influences, and environmental triggers in shaping entrepreneurial decision-making.
1. Theory of Planned Behavior (TPB):
The theory of planned behavior, an advancement of the theory of reasoned action proposed by Ajzen and Fishbein (1975), introduces a model for predicting behavior execution. The theory of reasoned action identified attitude toward behavior and subjective norms as predictors, with intention serving as a mediator between these variables and behavior. However, the theory of reasoned action faced limitations in explaining behavior that individuals have only partial control over, specifically the ability to choose whether or not to engage in the activity being considered. To address this issue, Ajzen (1991) developed the theory of planned behavior.
The Theory of Planned Behavior, developed by Icek Ajzen in 1985, posits that individuals’ to engage in a particular behavior is shaped by three primary factors: their personal attitudes towards the behavior, the subjective norms they perceive (which reflect the social pressure to either engage or abstain from the behavior), and their perceived level of control over performing the behavior, including how easy or difficult they perceive it to be.
According to TPB, intentions are the immediate determinant of behavior, and they are influenced by these three factors.
The Theory of Planned Behavior (TPB), proposed by Ajzen (1991), is a psychological theory that seeks to explain and predict human behavior. According to TPB, an individual's behavioral intentions are determined by three primary factors: attitudes, subjective norms, and perceived behavioral control.
> Attitudes : Attitudes refer to an individual's positive or negative evaluations of performing a particular behavior. In the context of entrepreneurship, attitudes towards starting a business, for example, may be influenced by perceptions of entrepreneurship as desirable or undesirable, enjoyable or unenjoyable.
> Subjective Norms: Subjective norms represent the perceived social pressure or expectations from significant others (such as family, peers, or society) regarding whether to engage in a specific behavior. For instance, if an individual perceives that their family or peers support entrepreneurial endeavors, they may be more likely to intend to become an entrepreneur.
> Perceived Behavioral Control: Perceived behavioral control refers to an individual's perception of the ease or difficulty of performing the behavior. This factor considers both internal and external factors that may facilitate or hinder the execution of the behavior. In the entrepreneurial context, perceived behavioral control may include factors such as access to resources, knowledge, skills, and environmental conditions.
The Theory of Planned Behavior (TPB) is a widely used theory that predicts and explains behavior in specific contexts across different disciplines (Ajzen, 1991). In the field of entrepreneurship, becoming an entrepreneur is considered a conscious activity, and intention is recognized as a cognitive state (Ajzen, 1991; Linan & Chen, 2009).
It is argued that entrepreneurial decision-making is a complex process that involves intentional cognitive processes (Ajzen, 1991). As a result, cognition, rather than personality traits or demographic factors, is seen as a more significant determinant of entrepreneurial behavior, as it is considered a "closer antecedent" to behavior (Ajzen, 1991).
Previous research has suggested that the Theory of Planned Behavior is a suitable theory for entrepreneurial research (Linan & Santos, 2007). Consequently, intention-oriented studies within the entrepreneurship literature are gaining popularity (Linan & Santos, 2007).
When it comes to rare behaviors or uncertain situations, such as in entrepreneurship, the role of intention in explaining behavior becomes more influential and meaningful (Ajzen, 1991). This is because strategic entrepreneurship, even in cases of necessity-driven or unexpected entrepreneurship, is perceived as intentionally planned behavior (Ajzen, 1991). Therefore, studying the decision-making process for entrepreneurial behavior using the Theory of Planned Behavior appears reasonable (Ajzen, 1991).
2. Theory of Entrepreneurial Event (TEE)
The Theory of Entrepreneurial Event (TEE), developed by Shapero and Sokol (1982), focuses on the impact of triggering events on shaping entrepreneurial intentions and subsequent behavior. According to TEE, individuals become aware of entrepreneurial opportunities through various triggers, such as personal experiences, social networks, or environmental changes. These triggers prompt individuals to perceive the desirability and feasibility of entrepreneurship, ultimately influencing their intentions and actions.
The TEE framework highlights the dynamic nature of entrepreneurial decision-making and emphasizes the significance of environmental factors and personal experiences in shaping entrepreneurial intentions. By understanding the role of triggering events, researchers and policymakers can enhance their support and promotion of entrepreneurial activities.
In the context of students' entrepreneurial intentions, several aspects of TEE are particularly relevant:
> Personal Experiences: Personal experiences, such as exposure to entrepreneurship through family members or previous entrepreneurial activities, can serve as triggering events that shape students' perceptions of entrepreneurship as a viable career option (Shapero & Sokol, 1982).
> Social Networks: Social networks play a crucial role in exposing students to entrepreneurial opportunities and providing them with support and encouragement to pursue entrepreneurship. Interactions with peers, mentors, and entrepreneurial role models can act as triggering events that influence students' intentions to become entrepreneurs (Linan & Chen, 2009).
> Educational Environment: The educational environment, including entrepreneurship education programs and extracurricular activities, can serve as a triggering event by exposing students to entrepreneurial concepts and providing them with the skills and knowledge necessary for entrepreneurship (Fayolle & Gailly, 2008).
> Economic Conditions: Economic conditions, such as job market trends and opportunities for entrepreneurship, can act as triggering events that motivate students to consider entrepreneurship as a viable career option (Krueger, 1993).
3. Social Cognitive Theory (SCT):
Social Cognitive Theory (SCT), introduced by psychologist Albert Bandura in 1986, is a psychological framework that highlights the reciprocal relationship between cognitive processes, behavior, and the environment in shaping human behavior. According to SCT, individuals acquire knowledge through observing, imitating, and modeling others, as well as through the consequences of their own actions. The theory underscores the significance of cognitive factors such as beliefs, expectations, and self-perceptions in guiding behavior.
Bandura describes SCT as a theory that explores the "interplay of personal, behavioral, and environmental influences" (Bandura, 1986, p. 1). He argues that individuals are not passive recipients of environmental influences but actively engage in processes such as self-regulation, self-evaluation, and self-reflection. SCT posits that individuals learn not only through direct experience but also by observing the behavior of others and the outcomes of those behaviors.
SCT has been applied to various fields, including education, health, organizational behavior, and social change. It offers a comprehensive framework for understanding how individuals acquire new behaviors, beliefs, and attitudes through social interaction and cognitive processes.
2.4. Factors Affecting Entrepreneurial Intention
Scholars like Ajzen (1991) and Linan (2004) explain that entrepreneurial intention is an indicator of the effort a person will put into carrying out entrepreneurial behavior. It also highlights that entrepreneurial intention captures three motivational factors or antecedents that influence behavior, as discussed below.
2.4.1. Formal Education
Education plays a crucial role in empowering students' entrepreneurial ambitions. It equips them with a strong foundation of knowledge, skills, and resources necessary for pursuing entrepreneurial ventures either during or after their tertiary education, AACSB (2020).
Education is widely acknowledged as a significant element and factor in the development of entrepreneurship and entrepreneurial intentions of citizens. In today's increasingly complex and competitive world, education plays a crucial role in preparing individuals to meet these needs of entrepreneurial intentions and challenges that are being faced through their activities. It is essential to ensure that the education system in society is precise and effective in cultivating the skills and abilities needed to navigate various situations successfully.
It is obvious that education plays a crucial role in maintaining entrepreneurial intentions among students. Thus, Sánchez (2011) explains the importance of University education as an instrument in fostering entrepreneurship by cultivating entrepreneurial intentions through several avenues. Mainly, it instills autonomy, independence, and self-confidence in students. Through education, students acquire the vital skills and knowledge to think critically, tackle problems, and proactively take charge - qualities indispensable for budding entrepreneurs.
Shane (2003), Fayolle & Gailly (2008), Hills et al. (2008), and Audretsch & Thurik (2001) underline the crucial role of education in cultivating the knowledge, skills, and mindset needed for individuals to participate in entrepreneurial activities and boost economic advancement. Likewise, education furnishes aspiring entrepreneurs with vital insights into business fundamentals, management tactics, and market intricacies, enabling them to grasp business operations and foresee potential obstacles they might encounter.
Here's an explanation of scholars and the researcher understands how education contributes to entrepreneurship and entrepreneurial intentions.
> Knowledge and Skills Development: Education provides students with the knowledge, skills, and competencies needed to identify and pursue entrepreneurial opportunities. Through academic programs, students gain subject-specific knowledge, critical thinking abilities, problem-solving skills, and business insight. Dewey (1916), Hattie (2009), Durlak et al. (2011), noted that education provides individuals with the opportunity to acquire knowledge, enhancement of skills and intellectual abilities crucial for both personal and professional success.
> Exposure to Entrepreneurial Concepts and Role Models : Education exposes students to a wide range of entrepreneurial concepts, theories, and best practices. Through entrepreneurship courses, workshops, and case studies, students learn about the experiences of successful entrepreneurs and gain insights into the entrepreneurial process. Exposure to entrepreneurial role models can inspire and motivate students to develop entrepreneurial intentions and consider starting their own businesses.
Fayolle, & Gailly (2008), Linan & Fayolle (2015) validate this as the exposure to successful entrepreneurs can serve as a source of inspiration, motivating students to develop entrepreneurial intentions.
On the other hand, it facilitates networking and mentoring opportunities for students. Research by Lerner et al. (2014) suggests that exposure to successful entrepreneurs can provide students with valuable connections and mentorship, which can further develop their entrepreneurial intentions and capabilities. Same with this, Peterman and Kennedy (2003), explains it will help in reducing in students' perceived barriers to entrepreneurship, boosting their confidence and belief in their own entrepreneurial abilities
> Development of Entrepreneurial Mindset : Education plays a crucial role in shaping the mindset of students, including fostering an entrepreneurial mindset. An entrepreneurial mindset involves traits such as creativity, risk-taking, adaptability, and resilience. Through education, students can develop these characteristics, as well as a passion for innovation and a willingness to embrace opportunities and challenges.
Education plays a vital role in nurturing entrepreneurial thinking and mindset among students. Drucker (1985), education has the power to develop skills such as recognizing opportunities, promoting creative thinking, embracing calculated risks, and fostering innovation. These abilities are essential elements of an entrepreneurial mindset.
> Networking and Collaboration: Education offers students valuable networking chances, enabling them to engage with peers, mentors, professionals in their field, and potential collaborators. Similarly, in the educational setting of universities, students are provided
with a vibrant environment for networking and collaboration. The interaction with fellow students, faculty members, and guest speakers empowers students to establish connections, share ideas, and cultivate meaningful partnerships. Allen et al. (1977), underscore education serves as a foundation for students to foster relationships and broaden their professional networks, which can be crucial in garnering support, exchanging knowledge, and accessing resources. These networks, in turn, can furnish aspiring entrepreneurs with support, mentorship, and potential business prospects.
Having the above aspects and considerations of the above global notions, education in Ethiopia can play a significant role in inspiring entrepreneurship and entrepreneurial intention.
2.4.2. Attitude towards Change
In the context of entrepreneurship, the term “attitude” refers to an individual's overall inclination or mindset towards entrepreneurial behavior and its perceived value, usefulness, and desirability. It encompasses the degree of understanding and appreciation one has for entrepreneurship and its potential outcomes. Attitudes in entrepreneurship can range from positive, negative, to neutral, and can be both overtly expressed and internally held (Ajzen, 2002).
The attitude of students towards change indeed has a significant impact on their entrepreneurial intention. When students possess a positive attitude towards change, they are more likely to embrace new opportunities, learn from failures, and pursue entrepreneurial endeavors. On the other hand, individuals with a negative or resistant attitude towards change may be less inclined to engage in entrepreneurial activities. One study that supports this notion is Linan and Chen (2009), describes support for the idea that an individual's attitude towards change can influence their inclination towards entrepreneurial activities. The study found that individuals who exhibit a high level of openness to change are more likely to have a positive entrepreneurial intention, indicating a connection between attitudes towards change and the pursuit of entrepreneurial ventures.
Furthermore, insights from the Theory of Planned Behavior Ajzen & Cote (2008) support the notion that attitudes hold significant influence over intentions and subsequent behavior. According to this theory, a positive attitude towards a particular behavior enhances the likelihood of actively engaging in that behavior. Therefore, if graduates maintain a positive attitude towards 17 | Page
change, it increases the probability of them developing the intention to pursue entrepreneurial activities.
Fayolle and Gailly (2008) also highlights the importance of fostering an entrepreneurial mindset characterized by a willingness to embrace change and uncertainty among graduates. The authors argue that entrepreneurship education should focus on developing students' attitudes towards change to enhance their entrepreneurial intention and ability to seize opportunities in dynamic environments.
2.4.3. Entrepreneurial Self-efficacy
The role of education and training programs in fostering entrepreneurial intention is significant. These programs play a crucial role in equipping individuals with the necessary knowledge, skills, and mindset to pursue entrepreneurial ventures.
Extensive research provided by Bagheri & Zaidatol, (2014), Zerihun, & Mohammedneja, (2023) forward their strong evidence for the connection between entrepreneurial self-efficacy and entrepreneurial intentions. Additionally, there is even more substantial support for the correlation between self-efficacy and career preferences in various fields.
Formal Education programs provide theoretical foundations and practical insights into various aspects of entrepreneurship, including business planning, market analysis, financial management, and marketing strategies. By acquiring this knowledge, aspiring entrepreneurs gain a deeper understanding of the entrepreneurial process and develop the competencies required to identify and seize business opportunities.
2.5. Conceptual Framework
The conceptual framework for this thesis comprises three independent variables: formal education, attitude towards change, and entrepreneurial self-efficacy, with the dependent variable being Students' Entrepreneurial Intention. Each variable plays a distinct role in shaping students' propensity towards entrepreneurship. For this study:
> Formal Education: refers to the organized educational experiences offered by private higher education institutions. Formal education encompasses the specific curriculum, courses, and programs that aim to teach students about entrepreneurship. Fayolle & Gailly (2015) describes the formal education as structured learning opportunities, which students gain knowledge and skills related to entrepreneurial concepts. This educational foundation provides them with a solid understanding and practical insights, shaping their interest and inclination towards engaging in entrepreneurial pursuits.
> Attitude towards Change: Attitude towards change refers to students' predispositions and perceptions regarding novelty, innovation, and adaptability. This variable reflects their openness to new ideas, willingness to embrace uncertainty, and propensity for risktaking. Schumpeter (1934) describes this as a positive attitude towards change is a fundamental characteristic of successful entrepreneurs. It is this attitude that enables them to identify new opportunities, introduce novel ideas, and create economic value through the implementation of innovative practices.
> Entrepreneurial Self-efficacy: Entrepreneurial self-efficacy denotes students' beliefs in their capabilities to effectively undertake entrepreneurial tasks and overcome challenges associated with entrepreneurship. It encompasses their confidence, resilience, and perceived competence in launching and managing business ventures. Bandura, (1997) supports the above idea as high levels of entrepreneurial self-efficacy empower students to pursue entrepreneurial paths, as they feel capable of navigating the complexities and uncertainties inherent in entrepreneurial endeavors.
> Students' entrepreneurial intention: serves as the dependent variable in the conceptual framework for this thesis, representing the students’ inclination or motivation to engage in entrepreneurial activities. This intention reflects their aspirations to initiate and develop new ventures, pursue entrepreneurial careers, or innovate within existing organizations. Krueger et al., (2000) explain that it serves as a critical precursor to actual entrepreneurial behavior and is influenced by a numerous of personal, social, and contextual factors.
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Source: Adapted from Fragoso et al., 2019
Figure 2.1: Conceptual Framework
2.6. Hypothesis
The following hypotheses are proposed to test the relationship among the independent variables; formal education, attitude towards change, entrepreneurial self—efficacy, and the dependent variable students entrepreneurial intention. Thus, the proposed hypotheses are:
H 1: Formal Education has significant influence onstudents’ entrepreneurial intention
H 2 : Attitude towards change significantly affects the students’ entrepreneurial intention.
H 3: There is a significant relationship between Entrepreneurial self-efficacy and students’ entrepreneurial intention.
CHAPTER THREE THE RESEARCH METHODOLOGY
3.1. Introduction
Research methodology refers to the way how a research problem can be solved systematically through exhaustive investigation (Kothari 2006). In order to achieve the objective of the study, clear and appropriate research methodology is vital. Hence, this section is comprised of the description of study area, research design, population and sample determination, sources of data and data collection methods.
3.2. Description of the Study Area
The five full-fledged Private Universities are a privately (share company) owned universities with many of them become operational since 1992 focusing on training, consultancy, education, research and community engagement activities. Thus, three of them namely; Admas, and Unity Universities are sampled at Addis Ababa campuses, while Harambee University’s Samples were taken from Mexico (Addis Ababa) and Adama Main Campuses due to the insufficient number of students (only available 31 students of MBA) for sampling as the graduate program is nearly to be closed. Same to Harambee University’s case, Rift Valley University’s samples were taken from Gadaa Campus (Around Gotra or Nations and Nationalities Square-Addis Ababa) and Adama Main Campus for the sake of sample enrichment and inclusivity purposes.
3.3. Research Design
Kothari (2006) acknowledges the value of mixed-methods research designs, highlighting their ability to provide deeper insights, enhance validity, and triangulate findings. He advises researchers to consider employing mixed-methods approaches when the research questions are complex and multifaceted, requiring multiple perspectives and approaches to fully explore
This study employs mixed research (qualitative and quantitative) design to examine the relationship between the independent variables (formal education, attitude towards change and entrepreneurial Self-efficacy) and the dependent (students entrepreneurial Intention) variable.
3.3.1. Type of Study
This research utilized explanatory type of research. This method is typically employed with analysis of cause and effect analysis, through regression analysis to measure the significance of effect of each variable.
3.4. Research Approach
Different research approaches employed for different study purpose. The common research approaches for social sciences are quantitative, qualitative and mixed approach Kothari (2006). Therefore to accomplish the purpose of this research mixed research approach was employed. The analysis of data in this study both qualitative and quantitative features. The qualitative instrument is related to the ideas collected from interviews and document analysis while the quantitative is related to the quantifiable items of the dependent and independent variables.
3.5. Population & Sampling Techniques
3.5.1. Target Population
Population is the total collection objects, people and even events to be studied (Walliman, 2011). The target populations for this study were calculated using Cochran formula (1977) as the number of students in each selected PHEI is not known.
3.5.2. Sample Technique and Sample Size
The ever increasing values for research have formed a need for an efficient method of determining the sample size desired to be representative of a selected population. Thus, the researcher used Cochran formula (1977) which allows the researcher to calculate an ideal sample size given a desired level of precision, desired confidence level, and the estimated proportion of the attribute present in the population.
Cochran’s formula is considered especially appropriate in situations with large populations. A sample of any given size provides more information about a smaller population than a larger one, so there’s a ‘correction’ through which the number given by Cochran’s formula can be reduced if the whole population is relatively small.
The Cochran formula is:
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Where:
> e is the desired level of precision (i.e. the margin of error),
> p is the (estimated) proportion of the population which has the attribute in question,
> q is 1 - p.
> The z-value is found in a Z table.
It is obvious suppose that the representative sample of the Private university students have approximately similar perception regarding to the determinants of entrepreneurial intentions. Thus, small number of Private university students represent for the large and unknown population. The researcher convinced at 95% confidence level and 50% degree of variability.
Thus, the sample size was computed as:
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3.6. Sampling Techniques
Sekeran (2001) described sample as a portion of the population that has attributes as the entire population. As the selected PUs started operating their graduate programs with almost equal pace, the researcher deployed equal distribution of samples. Thus, in the case of selecting samples, each university’s students were randomly sampled. With the interview sessions with academic vice presidents, deans and program coordinators was administered purposively to grasp fruitful information for the qualitative analysis.
Table 3.1: Distribution of Samples
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In view of Cochran, (1977), the increment in the sample size decreases the margin of error and improves the accuracy of the sample estimate of the population parameter. Larger samples also tend to be more representative of the population, as they are more likely to capture the variability within the population. Though the formula, suggests, 384 samples were required, though the researcher added 20% contingency which equates 460 research questionnaires considering the improvement of accuracy, and case of missing, left outs, and unfulfilled.
Four full-fledged Private Universities: Admas, Harambee, Rift Valley and Unity Universities were sampled. Of these sampled Universities, Admas University and Unity University samples were solely from Addis Ababa Campuses. Thus, Mekanissa and Megenagna Campuses were for Admas University and Gerji Campus was for Unity University’s. Harambee University’s Samples were taken from Mexico (Addis Ababa) and Adama Campuses due to the insufficient number of students (only available 31 students of MBA) for sampling as the graduate program is nearly to be closed. Same to Harambee University’s case, Rift Vally University’s samples were taken from Gadaa Campus (Around Gotra or Nations and Nationalities Square-Addis Ababa) and Adama Campus for the sake of sample enrichment and inclusivity purposes.
A mixed-methods (simple random and purposive samplings) strategies were used to guarantee a solid and thorough dataset that faithfully reflects the complexity if of determinants of entrepreneurial intentions of graduate students.
3.7. Sources of Data
The researcher used mixed data sources; the primary data from the graduate program students was collected through semi-structured questionnaires. In addition to this, an interview was conducted with the academic vice presidents, deans and program coordinators. The secondary data was obtained from institutional reports, notices of call for papers, curriculum outlines, and academic publications.
3.8. Validity and Reliability of the Measurement
3.8.1. Validity
The term "validity" describes an instrument's ability to measure a particular thing accurately. In order to do this, the researcher's advisor and the researcher discussed the research instrument in order to ascertain the quality and content of the data collection tool. The validation of the instrument was aided by the insightful remarks, adjustments, and recommendations made by the researcher’s advisor.
3.8.2. Reliability of the Measurement
To be reliable is to be consistent. It gauges how consistently respondents answered a subset of the items in your questionnaire or all of the questions overall (Saunders, 2009). Cronback's Alpha is a tool used to measure the coefficient of reliability. The test result was found to be between zero and one. A greater score indicates a high level of internal consistency in the item.
Table 3.2: Reliability Statistics
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In the context of identifying the determinants of entrepreneurial intention of students', 4 variables with 6 items each (24 items), were evaluated using a standardized questionnaire. The measurement of internal consistency of formal education, attitude towards change, entrepreneurial self-efficacy, and students' entrepreneurial intention through a reliable and consistent set of items provides a comprehensive understanding of the factors influencing entrepreneurial intentions among students. The overall Cronbach's Alpha value (0.783) signifies good reliability and internal consistency across the entire set of items, supporting the fitness of the questionnaire in catching the multidimensional aspects of students' entrepreneurial intention.
3.9. Data Collection Instruments
In order to collect the necessary data the researcher used the following instruments:
1. Questionnaire: A semi-structured questionnaire was distributed to the graduate students at each PHEI to gather the quantitative and qualitative data on various factors determining their entrepreneurial intentions. This method allowed for the collection of standardized responses, facilitating statistical analysis, as well as to forward ideas beyond the guided items to provide more detailed, qualitative responses. To this regard, the researcher distributed 460 questionnaires to the four Universities, and 411 (89.34%) of the distributed questionnaire were collected.
2. Interview: In-depth interviews were conducted with each Private University’s Vice Presidents for graduate Schools or Deans or Program Coordinators and facilitators. This qualitative approach provided to the researcher deeper insights and context to complement the quantitative data from the questionnaires as well as the overall private higher educational system.
3. Document Analysis: Relevant documents, such as institutional reports, Notices of call for papers, curriculum outlines, and academic publications, were analyzed to set conclusions on the overall academic performance and potential impact on entrepreneurial intentions of students.
3.10. Data Analysis Methods
Mixed (qualitative and Quantitative) method of analysis was employed to analyze the obtained data through different methods. Data was collected quantitatively using structured questionnaire. The collected data was analyzed through SPSS V26 package for three basic reasons; the software enables the application of both descriptive and inferential statistical methods, offers advanced analysis options through syntax procedures, and provided a user-friendly interface with intuitive tabular presentations of data, making it relatively straightforward to perform basic statistical analysis, generate graphical output without needing to write code too. Thus, using the IBM SPSS V26 version, the researcher executed:
A. Descriptive Statistical Analysis - was used to summarize the characteristics of the variables by calculating measures such as mean, median, standard deviation, and frequency distributions. This provided an overview of the nature of respondents, the number of distributed and collected data.
B. Multivariate Statistical Analysis : was used to analyze the data sets containing multiple variables, where the relationships between these variables were examined simultaneously to consider or identify the interactions and dependencies among multiple variables.
3.11. Ethical Considerations
A consent form outlining ethical considerations was filled out and letter of cooperation and information consent was assured before the commencement of the research. The Belmont Report (1979) outlines three fundamental principles guiding research involving human subjects. Firstly, participants were treated with ethical consideration, ensuring their decisions were respected, their privacy was kept confidentiality, and were safeguarded from harm, and their well-being was prioritized. Secondly, participants were regarded as autonomous individuals capable of making decisions that affect their well-being, while those unable to do so autonomously was entitled to protection. Lastly, participants received all benefits owed to them without undue burdens imposed improperly, and there was not a conflict of interest regards to this research with the respondents as well as the aforementioned PHEIs.
CHAPTER FOUR 4. DATA PRESENTATION, ANALYSIS AND INTERPRETATION
4.1. Introduction
This part of the study presents quantitative and qualitative data analysis and result of the research. The quantitative data were collected through five level rating Likert scale questionnaire. The researcher used survey to collect the data. Thus, the questionnaires were distributed randomly to students who were attending their graduate program at the respective private universities. Additionally the qualitative data were collected through interview with the academic leaders in the academia wing: Academic vice presidents, deans and program coordinators.
The questionnaire consists three sections. The first section deals with demographic information which deals with four questions, the second section consists the main part of the research organized 24 questions through 5-point Likert scale rating to measure the dependent and independent variables: students’ entrepreneurial intention, formal education, attitude towards change, and entrepreneurial self-efficacy respectively. The third section is open ended question type, which students’ used to explain if there was other issues that determine their entrepreneurial intention and recommendation to their respective universities to foster their entrepreneurial intention.
Babbie (2010) indicates that response rates of 50% are adequate for analysis and reporting, 60% is good, and 70% is very good and analysis can be carried out. Thus, from the total 460 questionnaires that were distributed to the respondents at each private university, 411 questionnaires were appropriately filled and returned. The response rate is 89.3%. Therefore, the return rate was very suitable for further analysis, and was done accordingly. Therefore, the data from 411 returned questionnaires, and the interview results from the AVPs, dean and program coordinators of each private university was analyzed and discussed subsequently.
4.2. Demographic Characteristics of Respondents
Table 4.1: Gender Distribution of Respondents
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Source: Survey Result, 2024.
As table 4.1, out of the 411 respondents 216 (52.6%) were males while 195(47.6%) were females. This indicates that number of male and female respondents have some proximity, which the research can represent both genders at equal level. Further this distribution showed that the graduate programs are accommodating both gender at its best level.
Table 4.2: Age Distribution of Respondents
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Source: Survey Result, 2024.
As presented in table 4.2, the mean age of 31.48 indicates that the average age of all individuals in in the sample population. On the other hand, median age of 30 indicates the middle value of the sample when all ages are arranged in ascending order. This means that half of the individuals are younger than 30, and the other half are older than 30. The median is not influenced by outliers and provides a better measure of central tendency when the distribution is skewed. The fact that the mean age (31.48) is higher than the median age (30) suggests that the age distribution is positively skewed. This means there are some older individuals in the sample that increase the average age, but most individuals are younger, clustering around the median value of 30.
Table 4.3: Current Field of Study
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Source: Survey Result, 2024.
In the table 4.3, majority of population (89.5%) were graduate students who are attending their graduate programs categorized under Business & Economics, while Technology (Engineering) accounts 5.6% and other 4.9% respectively. This means, the private higher education institutions dominantly offers programs that are rooted from Business & Economics, while another view goes to the main focus of this study to the entrepreneurial intention; this dominance is relevant since business & economics students might have more exposure to entrepreneurship-related courses and activities and can understand well the concepts within the questionnaire.
Table 4.4: Current University
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Source: Survey Result, 2024.
As it is depicted in table 4.4.: 105 (25.5%) of the respondents are attending their graduate class at Admas University while 103 (25.1%) are attending at Harambee University. Rift Valley and Unity Universities account 97 (23.6%), and 106 (25.8%) respectively. This shows us the distribution of students across the four private universities is fairly even, with each university contributing between approximately 23.60% and 25.8% of the total sample. This also shows a balanced representation of samples from each of the Private Universities.
4.3. Descriptive Analysis of Measurement Items
Table 4.5: Descriptive Analysis of Measurement Items
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Source: Survey Result, 2024.
Table 4.5, displays each variable's mean and standard deviation in relation to its lowest and greatest values. Accordingly, Formal Education has a Mean=4.0061 & Std.D=.9461, Attitude towards Change has Mean=4.4526 & Std.D=.7086, Entrepreneurial Self Efficacy has Mean=4.2238 & Std.D=.8676, and the dependent variable (Students Entrepreneurial Intention) has a Mean=4.3175 & Std.D=.791.
The standard deviations indicate the amount of variability or dispersion in the scores for each measure. The lower the standard deviation, the more clustered the scores are around the mean. So in this case, AtC has the lowest standard deviation at 0.7086, meaning the scores for Attitude towards Change are the most tightly clustered around the mean of 4.4526 compared to the other variables. The higher standard deviations for FE (0.9461) and ESE (0.8676) indicate more variability or spread in the scores for those measures compared to AtC and SEI. Overall, this analysis suggests the respondents tend to have fairly high and consistent scores.
4.3.1. Formal Education
Table 4.6: Descriptive Analysis of Measurement Items: Formal Education
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Source: Survey Result, 2024.
As it is depicted in table 4.6, tem FE6 has the highest mean value (4.39), followed by FE1 (4.23), and FE3 (4.11). The remaining items FE5, FE4, and FE2, have a mean value 4.03, 3.94, and 3.33 respectively. The overall average mean value of the items (Formal Education) is 4.0061, which describes that respondents generally have a favorable view of their formal education. The overall standard deviation 0.9461 suggests that while there is generally positive feedback, there is moderate variability in the responses. This variability means that although most respondents share similar positive experiences, there are some who have different views, highlighting the importance of considering individual differences when evaluating the effectiveness of educational programs.
Based on the illustration, the standard deviations across the items suggest that while there is a general agreement on the positive impact of formal education on entrepreneurship, there is also a noticeable range of experiences and perceptions among the respondents. This indicates the need for continuous improvement and customization of educational programs to address the diverse needs of students..
4.3.2. Attitude towards Change
Table 4.7: Descriptive Analysis of Measurement Items: Attitude towards Change
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Source: Survey Result, 2024.
As it is depicted in table 4.7; AtC2 have the highest value (4.60) followed by AtC5 (4.51), then by two equally rated items AtC6 & AtC1 (4.50 each). AtC3 is the least amongst which accounts 4.16. The overall averages mean value of the items (Attitude towards Change) is 4.4526, which suggests that the majority of students are very open and favorable towards change.
The overall standard deviation of 0.70866, suggests relatively low variability in responses, indicating a strong consensus among the respondents. This means there is a high level of agreement among the students regarding their positive attitude towards change.
4.3.3. Entrepreneurial Self-Efficacy
Table 4.8: Descriptive Analysis of Measurement Items: Entrepreneurial Self-Efficacy
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Source: Survey Result, 2024.
As of table 4.8; descriptive analysis of Entrepreneurial Self-Efficacy (ESE), ESE4 has the highest value (4.27) followed by ESE1 & ESE2 (4.25 each). Then two items; ESE3 & ESE5 (4.20 each) followed by ESE6 (4.18). The overall averages mean value of Entrepreneurial SelfEfficacy (ESE) is 4.2238, and suggests on average, graduate students have strong confidence in their entrepreneurial skills and abilities. Likewise, the overall standard deviation of Entrepreneurial Self-Efficacy (ESE) is 0.86766, indicates a higher variability in the responses. This means that while there is still a general agreement on the items, there are more differences in the respondents' views and experiences.
4.3.4. Students Entrepreneurial Intention
Table 4.9: Descriptive Analysis of Measurement Items: Students Entrepreneurial Intention
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Source: Survey Result, 2024.
In table4.9, item SEI3 has the highest mean value (4.42) which nearly followed by item SEI2 (4.40) and SEI1 (4.38). The fourth rank is followed by SEI5 & SEI6 (4.25 each), and the last one is SEI4 (4.21). The overall average mean value of Students Entrepreneurial Intention (SEI) is 4.3175 which on average students have a high level of entrepreneurial intention. Based on this, we state that that most students have a strong inclination towards engaging in entrepreneurial activities. And yet, the overall standard deviation; 0.791is relatively moderate, indicating a high level of agreement or similarity in how the questionnaire items were answered. This means that there is a high level of agreement among the students regarding their entrepreneurial intentions.
4.4. Correlation Analysis of Data
Knowing the correlation coefficient is crucial for determining how strongly variables have a linear relationship (Saunders, 2009). The coefficient that the letter r stands for any value between +1 and -1 is possible for it. A perfect positive correlation is represented by a value of +1. Weaker positive and negative correlations are represented by correlation coefficients between +1 and -1 (Saunders, 2009).
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Figure 4.1: Correlation Coefficient Scale (Saunders, 2009).
Table 4.10: Pearson Correlation of Variables
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Source: SPSS Computed Result, 2024.
As it is depicted in table 4.10, correlation, Formal Education (r=0.283), which means it has weak correlation with Students Entrepreneurial Intention. On the other hand, Attitude towards Change(r=0.603) which lies on the range of strong positive, and Entrepreneurial Self-Efficacy (r=0.813) has a perfect positive correlation.
Generally, the data suggests that Formal education might play a smaller role, but it could still be a positive influence while the high Entrepreneurial Self-Efficacy and a positive Attitude Towards Change are more likely to have a solid meaning to the students entrepreneurial Intention.
4.5. Multivariate Analysis of Data
Table 4.11: Model Summary
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Source: SPSS Computed Result, 2024.
As it is indicated in the above regression model 71.6% of the variance in the dependent variable, entrepreneurial intention, can be explained by the interaction of the three independent variables (formal education, attitude toward change, and entrepreneurial self-efficacy). Furthermore, there is a strong fit between the model and the variability in students' entrepreneurial intentions, explaining a significant percentage of the variability.
4.5.1. Assumptions of Multivariate Analysis of Data
Linearity
The linearity assumption asserts that, taking into account the remaining independent factors included in the regression function model, the dependent variable at least has a linear connection with each of the independent variables. Therefore, the relation between the dependent variable (Students Entrepreneurial Intention) and independent variables (Formal Education, Attitude towards Change, Entrepreneurial Self-Efficacy), is presented as follows.
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Source: Survey Result, 2024.
Based on the output of R-squared value of 0.946, we can conclude that there is a strong positive linear relationship between students' entrepreneurial intention and their expected cumulative probability.
This reflects the overall fit of the model, including the linearity component. A high R-squared suggests a good fit, which implies a reasonably linear relationship between the independent variables (collectively) and the dependent variable.
No Perfect Multicollinearity
It is known and agreed that there can be correlation between variables. The assumption of multivariate analysis, which states that change in one variable cannot be entirely explained by aspects of another variable, is violated by the existence of perfect multicolinearity. As a result of this, the researcher had conducted further output based analysis, and did not achieve perfect muliticolinearity within each independent variable in any regression output-based study.
Table 4.12: Collinearity Statistics
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Source: SPSS Computed Result, 2024.
As depicted on the above table, the VIF value for Formal Education (VIF = 1.281), Attitude towards Change" (VIF = 1.619) and Entrepreneurial Self-Efficacy (VIF = 1.321) are below 5, and all the tolerance value for the dependent variables is also higher than 0.1. So, the researcher has found that there is no muliticolinearity problem amongst.
Independence (Autocorrelation)
Table 4.13: Independence of Variables
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Source: SPSS Computed Result, 2024.
The residuals from a regression analysis can be utilized to determine whether auto correlation exists using the Durbin-Watson (DW) statistic. The value of the DW statistic ranges from 0 to 4, where value closer to 0 indicates positive autocorrelation, value of 2 indicates no autocorrelation, while a value closer to 4 indicates negative autocorrelation.
As it is indicated in the above table, the Durbin-watson result value=1.532, which suggests there is a degree of positive autocorrelation.
Normality
Dependent Variable: Students_Entrepreneurial_lntention
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Regression Standardized Residual
Figure 4.3: Normality test
Source: SPSS Computed Result, 2024.
P-P Normality Plot
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Figure 4.4: P-P Normality test
SPSS Computed Result, 2024.
The distribution of any dependent variable value in respect to the independent variables in the model can be understood by the researcher visualizing on the P-P or Q-Q plot of the dependent variable which is aggregate result of independent variables. Likewise, the normality is often described and visualized using a bell-shaped curve, known as the normal distribution or Gaussian distribution.
4.5.2. Assumptions Underlying Regression Analysis
Table 1.1: tiple Regression Results
Table 4.14: Multiple Regression Results
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a. Predictors: (Constant), Entrepreneurial_Self_Efficacy, FormalEducation, AttitudetowardsChange
b. Dependent Variable: StudentsEntrepreneurialIntention
Source: SPSS Computed Result, 2024.
As it is indicated in the above table, regression model, R square is 0.716 or 71.6% which tell us 71.46 % variations in students entrepreneurial intention is explained through the predictors in the model. This suggests a substantial explanatory power of the model. However, the remaining variation in student’s entrepreneurial intention can be explained by other variables than the variables stated in this model.
Table 1.2: mary of ANOVA
The following computed result evaluates the effect of three predictors; Entrepreneurial SelfEfficacy, Formal Education, and Attitude towards Change, on the dependent variable and, Students' Entrepreneurial Intention on the dependent variable’s side.
Table 4.15: Summary of ANOVA
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Source: SPSS Computed Result, 2024.
The above table indicates the significance value (Sig.) for the regression model is 0.000, which is less than 0.05. This indicates that the overall model is statistically significant and that the predictors collectively have a significant effect on Students' Entrepreneurial Intention. In other ways, the Students' entrepreneurial intention variability appears to be significantly explained by the regression model, as indicated by 342.208 is the regression model's F-value. The high F- value and substantial p-value (0.000) indicate that the model fits the data well, indicating that the predictors account for a good portion of the variation in students' entrepreneurial intentions.
4.5.2.3.Summary of Regression Coefficients
The impact of each predictors; Formal Education, Attitude towards Change, and Entrepreneurial Self-Efficacy on the dependent variable (Students' Entrepreneurial Intention) should also be explained in line with the explanations.
Table 4.16: Summary of Regression Coefficients
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a. Dependent Variable: Students_Entrepreneurial_Intention
Source: SPSS Computed Result, 2024.
Based on the above table, the researcher it is obvious that we can state the following results:
The coefficient for Formal Education (0.022) suggests it is not statistically significant (p = 0.457), implying that Formal Education have minor significance being an independent variable on Students' Entrepreneurial Intention in this model. The second, Attitude towards Change (Beta= 0.256) indicates that it is statistically significant (p < 0.001), suggesting that Attitude towards Change has a substantial positive impact on Students' Entrepreneurial Intention. The third independent variable, Entrepreneurial Self-Efficacy coefficient (0.567) shows that it is highly statistically significant (p < 0.001) and has the largest standardized coefficient (Beta = 0.683), indicating that Entrepreneurial Self-Efficacy is the most influential predictor in the model.
To sum up, this regression coefficient indicate that of these three independent variables, Entrepreneurial self-Efficacy has a significant and substantial positive impact on Students' Entrepreneurial Intention, being the most influential predictor in the model. Secondly, Attitude towards Change also significantly positively affects Students' Entrepreneurial Intention, though to a lesser degree than Entrepreneurial Self-Efficacy. The third; Formal Education has a less important impact on Students' Entrepreneurial Intention in this model.
4.6. Hypothesis Testing
H 1: Formal Education has significant influence on students’ Entrepreneurial Intention.
As it is indicated in the above coefficient table, the coefficient for Formal Education (0.023) suggests that for each unit increase in Formal Education, the Students' Entrepreneurial Intention increases by 0.023 units. However, this effect is not statistically significant (p = 0.457), implying that Formal Education does not have a significant independent impact on Students' Entrepreneurial Intention in this model. In addition to this, the researcher has cross-checked the correlation with the dependent variable that has r=0.283, which means it has weak correlation with Students Entrepreneurial Intention. Based on this, the hypothesis is rejected .
H 2 : Attitude towards Change significantly affects the Students’ Entrepreneurial Intention.
As it is indicated and discussed under the coefficient table, the coefficient for Attitude towards Change (0.285), students' entrepreneurial intention rises by 0.285 units for every unit increase in Attitude towards Change. This effect is statistically significant (p < 0.001), suggesting that Attitude towards Change has a significant positive impact on Students' Entrepreneurial Intention. In addition to this, the correlation of Attitude towards Change with the dependent variable is high (r=0.603), and indicates a range of strong positive. Based on these assumptions and results hypothesis is accepted.
H3: There is a significant, positive relationship between Entrepreneurial self-efficacy and students’ entrepreneurial intention.
As shown in the above coefficient table, the coefficient value for Entrepreneurial Self-Efficacy (0.567) shows that for each unit increase in Entrepreneurial Self-Efficacy, the Students' Entrepreneurial Intention increases by 0.567 units. This effect is highly statistically significant (p < 0.001) and has the largest standardized coefficient (Beta = 0.683), indicating that it is the most dominant predictor. Moreover, in the aspect of correlation, Entrepreneurial Self-Efficacy (r=0.813) has a perfect positive correlation. Thus, the hypothesis is accepted.
Therefore the regression model is:
Students_Entrepreneurial_Intention = 0.560+ 0.567ESE+ + 0.285AtC+ 0.023FE
4.7. Analysis of Qualitative Data
4.7.1. Qualitative Data Collected from University Academic Leaders Interview was conducted with 2 vice presidents for postgraduate studies, two academic deans and one program facilitator from the aforementioned universities. Thus,
1. How does your University ensure that the curriculum provides students with the necessary knowledge and skills on entrepreneurship?
The academic wing leaders explained that they and their universities are committed in providing a comprehensive and dynamic education that prepares graduates to excel in their respective fields, which aims in rendering the students entrepreneurial aspects. Thus, the respective universities conduct students centered annual conferences and graduate thesis competitions which are problem based interventions.
Furthermore, the curriculum of each program incorporates fundamental principles of entrepreneurship. Courses on business strategy, innovation, and market analysis are embedded within each curriculum to ensure that graduate students develop a strong foundation in entrepreneurial thinking. Likewise, programs are evaluated through different mechanisms such as graduate-outcome surveys, program audit report and annual and bi-annual reports as well as by internal quality assurance schemes and external quality assurance aspects carried by ETA.
2. What steps do you suggest to bridge the gap between theoretical education and practical application to prepare students for entrepreneurial endeavors?
These academic administrators and facilitators have suggested the incorporating real-world case studies and business simulations into the curriculum to allow students to apply theoretical knowledge to practical scenarios. Besides, the academic vice presidents, deans, and program facilitators at the aforementioned universities also highlighted the need of planning entrepreneurial competitions and programs in order to close the gap between theory and practice. Creating a business incubator or accelerator or working with one can give students access to financial opportunities, mentorship, and other necessary resources for their projects. A competitive and inventive attitude is also fostered by planning business plan competitions and pitch events, which inspire students to create and showcase their entrepreneurial ideas.
Furthermore, these academic facilitator and administrators emphasized the importance of networking opportunities and mentoring. Students receive direction, counsel, and support when they are paired with seasoned business owners and professionals from the sector. Students can engage with successful business executives and entrepreneurs through networking events, workshops, and guest lectures, which help them, build their professional networks and acquire insightful knowledge.
3. What strategies or activities does the university employ to foster an attitude towards change for entrepreneurial intention among graduate students?
According to the data for the interview with the VP, deans and program coordinator, there are major tasks accomplished taken significant steps to foster an attitude towards change and entrepreneurial intention among its graduate students. By integrating practical experiences with theoretical education, the universities are trying their best in preparing students to thrive in the dynamic world of business. One of the primary approaches the universities employ is the integration of entrepreneurship into its curriculum across various disciplines. The universities offer specialized courses focused on entrepreneurship, covering essential topics such as business planning, strategic planning, and startup financing in their respective programs. This comprehensive curriculum ensures equipping students with the foundational concepts necessary for entrepreneurial success.
In addition to theoretical knowledge, the universities programs give strong emphasis on practical projects and case studies. Students are required to engage in activities such as developing business plans, conducting market research, and analyzing real-world business scenarios by sending them to conduct activities. These projects help students apply their classroom learning to practical situations, enhancing their problem-solving and critical-thinking skills. As of the faculty members’ explanation, mentorship and advisory services are also provided to play a vital role in supporting aspiring entrepreneurs at some universities. Experienced faculty members and industry professionals provide personalized guidance, helping students refine their business ideas and strategies at their program level.
4. How do you support students in developing a positive attitude towards overcoming an uncertainty and become ready to learn from failure?
University educational managers disclose that integrate experiential learning into curriculum. They explained that engaging students in real-world projects and case studies, the program syllabus by themselves expose them to the complexities and uncertainties integral in business undertakings. These projects require students to navigate ambiguous situations, make decisions with incomplete information, and confront unexpected challenges. This practical approach not only builds practical skills but also encourages a mindset of flexibility and adaptability.
5. What measures does your university undertake to promote and cultivate entrepreneurial self-efficacy among graduate students?
Though the university academic leaders explain that the private universities have limitations in finance and networking to promote and cultivate the entrepreneurial self-efficacy, they are performing at their best level by combining demanding academic training with practical experiences, University wise mentorship, and academic supportive environment. The universities are doing their activities to build students' confidence in their entrepreneurial abilities and prepare them for successful ventures.
6. Do you practice any mechanisms that engage students in problem-solving activities and become resilience entrepreneurs? If yes, please mention it/them.
The aforementioned academic wing leaders tried to explain about their university’s activities focusing that they are active at expressing the commitment to fostering student engagement in problem-solving activities and cultivating resilient entrepreneurs through the Memorandum of Understandings (MoUs) and presenting the signed credentials. However, the researcher has observed, and verified the MoU agreements were made to secure the accreditation and Reaccreditation of the respective private universities. Undeniable, there has been little trials in some universities provision of workshops, seminars, and mentoring sessions designed to equip students with essential entrepreneurial skills; which were mentioned in the above questions.
7. What strategies do you assume universities should implement to promotion and enhance the entrepreneurial mindset of graduate students?
The academic wing leaders have highlighted several internal and external cases that should have to be done and get recognized by the stakeholders. The one and pressing issue that was mentioned was including entrepreneurship in the curriculum is a basic strategy. The approach of integrating entrepreneurship classes into other academic programs guarantees that all students, regardless of their major, are exposed to fundamental entrepreneurial ideas. The other fundamental issue that was mentioned was the opening of dedicated spaces such as entrepreneurship centers and business incubators that can significantly foster innovation and collaboration. Furthermore, organizing and promoting competitions and fairs to play a vital role in motivating students to develop and present their ideas. In doing so, universities can facilitate the access to funding and resources grants, scholarships, and partnerships with project owners, capitalists and possible investors.
Generally, the academic leaders at the universities that spoke to the researcher have shown a strong dedication to integrate entrepreneurship into their courses, bridging the knowledge gap between theory and practice, and helping graduate students develop an entrepreneurial attitude. These educational institutions are actively training their students to navigate the complexity of the business world and emerge as strong, innovative entrepreneurs through a combination of specialized courses, practical projects, mentorship programs, and entrepreneurial competitions. The researcher has also identified that these private universities are resourceful in documentation of MoUs, but lacks practicability and the management’s commitment to engage their students in entrepreneurial activities.
4.8. Analysis of Qualitative Data Collected from Students
As the questionnaire was crafted to be semi-structured, there have been two questions where students can explain their feelings and understandings towards the study topic and its variables as well as their recommendations. So, their reflections are listed under the following table and preceded with analysis.
Table 4.17: Summary of Collected Qualitative Data
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Source: Survey Result, 2024.
According to the above collected, ideas and suggestions of graduate students of the Ethiopian Private Universities, they have suggested that financial, government regulation and economic policies have the influence on the entrepreneurial intention of graduate students in addition to the formulated variables.
Several respondents emphasized the importance of financial courage and self-confidence in pursuing entrepreneurial intentions. Graduates need both the financial resources and the confidence to utilize these resources effectively to start their own business. In addition to this, the access to financial resources and lending institutions was also the other issue which was mentioned as a factor. Furthermore, risk taking and experience, family background and fear to join new environment are also suggested to be new variables and determinants of entrepreneurial intentions of these students.
To sum up, the qualitative analysis reveals that graduates' entrepreneurial intentions are influenced by a combination of financial support, personal attributes, governmental policies, economic conditions, social acceptance, and cultural norms.
Regards to their recommendations and suggestions towards the universities and the government, students have raised many critical issues that can be input for policy makers, researchers, educational administrators, educational quality advocators and practitioners. Thus, focusing on the practical aspects rather than the theoretical methodology is mentioned as a major issue repeatedly. Respondents also stressed on the need for personalized support, practical learning experiences, early entrepreneurship education. Same with this, the University-industry engagement was a major concern that underlines the Universities should strive to create a holistic entrepreneurial ecosystem that integrates various aspects of support, including mentorship, practical learning, industry connections, continuous development opportunities and opportunities for engagement and competitions.
Generally, aforementioned additional strategies mentioned by respondents, universities can create a more compassionate and supportive environment that not only nurtures entrepreneurial intentions but also helps transform these intentions into successful ventures.
4.9. Discussion of Result of The Study
The major objective of this study was to assess the determinants of entrepreneurial intention of graduate students of Ethiopian Private Universities. The desire and willingness to pursue a new venture creation: Entrepreneurial intention, lies at the sentiment of the entrepreneurial journey. Regards to the higher education’s aspect, (Linan & Fayolle, 2015) indicate it as the students interest in starting and running their own business, driven by a combination of personal motivations and environmental influences. This research examines into these influences, investigating the level of influence of formal education, attitude towards change, and entrepreneurial self-efficacy (ESE) on the entrepreneurial intention of PHEIs students.
From the 460 questionnaires, 411 were returned and filled properly. The response rate was 89.34 % which is even above the expected sample size for unknown population; i.e 384. A mixed- method strategy was used to gather data from Admas, Harambee, Rift Valley, and Unity Universities. This covered document analysis, in-depth interviews with university officials, and organized questionnaires. The findings lean-to numbers of variables affecting students' intentions to start their own businesses.
According to the computed data, gender distribution of respondents was relatively balanced, with 52.6% males and 47.4% females. This balance indicates that the findings are representative of both genders. Sam with this demographic information, the age aspect was the other dominant one. Thus, mean age of respondents was 31.48 years, with a median age of 30, suggesting that the sample comprised predominantly younger individuals, although some older students increased the mean age. In the same track of demographic data, the significant majority (89.5%) of respondents were attending their schooling in Business and Economics fields, while Technology (Engineering) and other fields accounted for 5.6% and 4.9%, respectively. This concentration is relevant as students in Business and Economics may have more exposure to entrepreneurship-related courses.
As well, the distribution of respondents across the four private universities was fairly even, with each university contributing between 23.6% and 25.8% of the total sample, ensuring a balanced representation.
Regards to the descriptive analysis of key factors, Formal Education had an overall mean score 4.0061, and a low standard deviation of 0. 9461, indicates considered relatively low, especially in comparison to the other variables examined. This low standard deviation suggests that the scores for Formal Education are tightly clustered around the mean value of 4.0061. Nevertheless, had a weak positive correlation with students' entrepreneurial intention (r=0.283), which this result suggest formal education plays a minimal role in shaping the entrepreneurial intention of students.
On the other hand, Attitude towards Change has a mean value 4.4526, with a standard deviation of .7086. This is to mean the high mean and low standard deviation suggest that students are very open to change and innovation, viewing it positively, which is critical for entrepreneurial success. Additionally, the correlation showed a strong positive (r=0.603) with entrepreneurial intention which shows that it is more influential in shaping entrepreneurial intentions.
The other variable; entrepreneurial self-efficacy mean score was 4.2238, with a moderate standard deviation of 0.8676. While students generally have high confidence in their entrepreneurial abilities, there is some variability in their self-efficacy levels.
The overall mean score for entrepreneurial intention was 4.3175, with a low standard deviation of 0.791. This indicates the low standard deviation of 0.791 suggests there is a high degree of consistency and agreement among the respondents in terms of their entrepreneurial intentions. This implies that the majority of respondents expressed similar, positive levels of intent and motivation to pursue entrepreneurial activities.
In the essence of entrepreneurship, it might be really important to comprehend what motivates people to take the risk. A framework for this investigation is provided by the Theory of Planned Behavior (TPB). The theory of perceived behavioral control (TPB), which was developed by Ajzen (1991), posits that three main factors influence our inclination to participate in a particular behavior: our attitude toward it, societal pressure or expectations (subjective norms), and our confidence in our capacity to succeed (perceived behavioral control). Put more simply, we are more inclined to follow this road if we have a positive attitude about entrepreneurship, feel supported by society or our peers, and think we have the abilities to overcome the obstacles.
When this approach is used with the students’ arena, it becomes especially fascinating. That’s why the researcher study looked at the variables affecting students' entrepreneurial intentions to start their own business. Although students gave formal education high marks for perception, there was an unexpectedly small association between it and the ambition to start a business [2]. This implies that students who want to start their own businesses might not be most motivated by just earning a degree.
The studies by Do Paco et al. (2015), Shane (2003), and Fayolle & Gailly (2008) all explored the relationship between formal education and entrepreneurial intention among students. The general assumption, based on prior research, was that formal education would have a strong and significant positive influence on students' intentions to start their own businesses.
However, the findings from this study discovered an unexpectedly small association between formal education and entrepreneurial intention of students. This suggests that while formal education may provide students with important knowledge and skills, it does not necessarily translate directly into a stronger intention to become an entrepreneur. Moreover, The attitude towards change and entrepreneurial self-efficacy of some students may come more from innate personality traits, prior exposure to entrepreneurship, or other environmental/social factors, rather than solely from their formal educational experiences/paths.
The investigation went beyond the formal education, and examined two more variables. The "attitude towards change" of the students was one that thought as significant factor. It was proposed based on the findings of Vamvaka et al. (2020), which their study underlines the critical role of attitude towards change as the strongest predictor of entrepreneurial intention. Their study was also supported by Linan and Chen (2009), stating that a person's attitude toward change can affect their propensity towards entrepreneurial activity. Therefore, the formerly hypothesized element and findings were fit: students showed a significant willingness to adapt and innovate, and they saw these traits favorably. This optimistic view is exactly in line with the traits required for success as an entrepreneur, where flexibility and openness to new concepts are crucial.
This study's results on entrepreneurial self-efficacy (ESE) show some variation in students' confidence levels in addition to a generally high mean score (4.2238) with a moderate standard deviation (0.8676). This shows that although a large number of students have confidence in their capacity to start their own businesses, the population has a range of self-efficacy. It is essential to understand this variability and how it relates to the more general idea of self-efficacy in order to stimulate the entrepreneurial intention of students.
Self-efficacy theory, pioneered by Albert Bandura (1986), provides a valuable lens for examining this phenomenon. Bandura proposed that individuals with high self-efficacy possess a strong belief in their capabilities to achieve goals and overcome challenges. This concept translates perfectly to the world of entrepreneurship, where navigating uncertainty and overcoming obstacles are essential for success. As Chen et al. (1998) define it, ESE is the specific confidence an individual has in their ability to launch and run a successful business. Their research, along with countless others, has established a strong positive correlation between ESE and entrepreneurial intentions. In easiest ways, students who believe in their entrepreneurial skills are more likely to be motivated to pursue starting their own ventures.
The findings reveal a fascinating interplay between the three independent variables. While formal education displayed a weaker influence compared to the other two factors, the overall high mean score for entrepreneurial intention (4.3175) and low standard deviation (0.791) paint a convincing representation. This suggests a strong general inclination towards entrepreneurial activities among students, with a high level of agreement on their entrepreneurial aspirations.
These research findings align with research by Vamvaka et al. (2020), who link a positive attitude towards change, often measured as tolerance for ambiguity, with a stronger desire to pursue entrepreneurship. The dynamic and ever-evolving nature of entrepreneurial endeavors demands the ability to adapt and embrace change. Students who find this view motivating are more likely to be drawn to the entrepreneurial path. Same with this, Chen et al. (1998), researched there is a positive correlation between high Entrepreneurial Self-efficacy and entrepreneurial intentions. In easiest terms, students who believe in their entrepreneurial skills are more likely to be motivated to pursue starting and operating their own business.
On the other hand, the weaker influence of formal education in this research is an interesting finding. While some studies by Do Paco et al. (2015) suggest that targeted entrepreneurship education programs within universities can be beneficial, the impact of a general degree on entrepreneurial intentions might be less clear-cut. This could be due to the specific focus of formal education compared to targeted entrepreneurship programs, or the role of additional factors not directly measured in your research.
To sum up, this research highlights the importance of both psychological factors (attitude towards change, ESE) in shaping student entrepreneurial intentions. While formal education might be valuable element in the overall landscape, though was found less significant. Universities can influence these insights by nurturing a culture that encourages innovation, risktaking, adaptability alongside hybrid and customized programs that nurture entrepreneurial intention. By recognizing the complex nature of student entrepreneurial intention, universities can empower a new generation to translate their ambitions and missions into reality and become the next movement of successful entrepreneurs.
Table 4.18: An overview of the research's questions, theories, and conclusions
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From the above table, it is noted the proposed hypotheses (2out of 3) are statistically supported and accepted.
CHAPTER FIVE CONCLUSION & RECCMMONDATIONS
5.1. Conclusion
This study investigated the factors influencing the entrepreneurial desires (entrepreneurial intention) of graduate students in Ethiopia's private universities. Entrepreneurial intention, as defined by Linan and Fayolle (2015), refers to the ambition to launch a new business venture . In a university setting, it reflects students' interest in starting their own companies, motivated by both their formal education experiences and personal ambitions within their broader environment.
The research focused on three key influences: formal education, students' openness to change, and their entrepreneurial self-efficacy (confidence in their ability to run a business). Interestingly, despite students' positive views on formal education, its correlation with entrepreneurial intention was weak. This suggests that a traditional university education (Teaching-learning) might not be the sole driver of entrepreneurial aspirations for these students.
On the other hand, students displayed a strong and positive attitude towards change and innovation, which are crucial qualities for success in entrepreneurship. Additionally, while levels of entrepreneurial self-efficacy varied among students, they generally reported high confidence in their business-starting abilities.
These findings highlight that a complex interplay of personal, educational, and environmental factors shapes students' entrepreneurial intentions. Universities aiming to nurture a stronger entrepreneurial intention among their students might need to invest beyond simply offering formal education. A more comprehensive approach that cultivates students' openness to change and strengthens their self-belief in their entrepreneurial capabilities could be more effective.
5.2. Recommendations
It is obvious that universities should be dedicated in creating an environment where students can actively engage in problem-solving activities and develop as resilient entrepreneurs. Same with this, these universities have also a public and institutional mission to create initiatives that are designed to provide practical experience, foster innovative thinking, and prepare students for the challenges of the entrepreneurial world; which are coined under the general mission of teachinglearning activities, research and community engagement, and operating the educational-business environment. By leveraging these mechanisms, they should empower their students to become successful and resilient entrepreneurs who can detach them from being employed or waiting the next rank being under pressure of other business owners.
Based on the findings of the investigation, this study made the following ideas the PHEIs and Educational Policy makers.
> Expand beyond the traditional course of entrepreneurship: though, the inclusion of entrepreneurship education is included under each graduate program’s curriculum, universities should balance it with other initiatives that can equip students' with broader entrepreneurial mindset and skills. This could include workshops, mentorship programs, and empirical learning opportunities that foster creativity, adaptability, and self-efficacy.
> Encourage students to view change positively: Universities should purposefully create courses and events that introduce students to the advantages of accepting change, considering the significance of being receptive to new ideas. This could include projects and competitions of creativity that encourage students to use their imaginations to solve problems, panel discussions with influential people, or case studies of prosperous businesses and their owners.
> Foster a supportive entrepreneurial ecosystem: Universities should collaborate with the broader community, including industry partners and policymakers, to create an environment that promotes student entrepreneurship. This ecosystem approach can provide access to resources, networks, and role models that further reinforce students' entrepreneurial intentions.
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APPENDIXES
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ADMAS UNIVERSITY
School of Postgraduate Studies
Master of Business Administration
(To be filled by Graduate Students of Ethiopian Private Universities)
Dear respondents!
This questionnaire is intended to collect primary data used for a thesis entitled “ Determinants of Entrepreneurial Intention among Ethiopian University Graduate Students: Evidence from Private Universities ”.
Your participation in giving reliable information is important for the success of this thesis and other research scholars. So, I, respectfully request your kind cooperation in answering the questions as clearly as possible.
You (the respondents) are kindly requested to read the questions thoroughly and respond accordingly.
> Please put “ V’ mark in the box to the point which highly reflect your idea;
> Your honest and unbiased response will greatly contribute for the researchers to achieve their main objectives and there is no need to write your name/phone number too.
Many thanks for your cooperation!!
I would like to ensure you that your response in this survey will be used only for the fulfillment of the thesis work and be treated with utmost confidentiality to fill this questionnaire. If you have any comment, suggestion and question, I can be contacted via:
Awot Haileslassie Gebrekidan
PART I: Demographic Information
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PART II: Determinants of Entrepreneurial Intention
Please indicate your level of agreement with the following statements in each section and subsection using a 5-point Likert scale, where 1 represents "Strongly Disagree ”, and 5 represents "Strongly Agree ".
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A. What factors, other than those mentioned above, do you believe influence graduates entrepreneurial intention?
B. In what ways do you think universities or educational institutions can better support students in developing their entrepreneurial intentions?
Thank you for your time and valuable insights!
Interview Questions:
For Academic Vice Presidents/ Campus Deans/ Graduate Program Coordinators of the Respective Private Universities
1. How does your University ensure that the curriculum provides students with the necessary knowledge and skills on entrepreneurship?
2. What steps do you suggest to bridge the gap between theoretical education and practical application to prepare students for entrepreneurial endeavors?
3. What strategies or activities does the university employ to foster an attitude towards change for entrepreneurial intention among graduate students?
4. How do you support students in developing a positive attitude towards overcoming an uncertainty and become ready to learn from failure?
5. What measures does your university undertake to promote and cultivate entrepreneurial self-efficacy among graduate students?
6. Do you practice any mechanisms that engage students in problem-solving activities and become resilience entrepreneurs? If yes, please mention it/them.
7. What strategies do you assume universities should implement to promotion and enhance the entrepreneurial mindset of graduate students?
[...]
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