Perceived Access to Finance and Entrepreneurial Self-Efficacy as Antecedents of Entrepreneurial Intention Among Millennial Employees
Journal Title: Psychology and Education: A Multidisciplinary Journal - Year 2024, Vol 18, Issue 6
Abstract
The study primarily aims to determine the relationship between entrepreneurial intention, perceived access to finance, and entrepreneurial self-efficacy among millennial employees in Cotabato Province, Philippines. This study is grounded on the Theory of Planned Behavior by Icek Ajzen (1991), which suggests that behavioral intentions can be accurately predicted with the three conceptually independent determinants of intention. A quantitative descriptive correlational research method was utilized to describe the level of variables and to determine the relationship between them. Adapted survey questionnaires were given to 100 conveniently selected respondents in selected areas in the province. Area sampling coupled with convenience sampling was the technique used. Findings revealed a high level of entrepreneurial intention, perceived access to finance, and entrepreneurial self-efficacy among millennial employees in Cotabato Province. The result shows a significant relationship between perceived access to finance and entrepreneurial intention (p<.05). It has also been determined that entrepreneurial self-efficacy has a significant relationship with entrepreneurial intention (p<.05). Additionally, based on the regression analysis, only entrepreneurial self-efficacy influences entrepreneurial intention. This finding suggests that individuals who believe in their abilities to succeed in an entrepreneurial venture are more likely to have the intention to pursue a career in entrepreneurship. It highlights the importance of fostering and developing entrepreneurial self-efficacy in individuals, as it can drive their desire to start and succeed in their businesses. This research will contribute to a better understanding of the current situation on the extent of the entrepreneurial intention of millennials in North Cotabato, Philippines.
Authors and Affiliations
Kleven Jake Villamor, Ronnah Marie Panizales, Reen Edward Patino, Angeliy Franco, Kyla Cassandra Gatchalian
Keywords
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- EP ID EP758350
- DOI doi: 10.5281/zenodo.10935864
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