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Procedia Computer Science 158 (2019) 885–890
3rd World Conference on Technology, Innovation and Entrepreneurship (WOCTINE)

Analysis
3rd of Factors
World Conference Leading
on Technology, to Entrepreneurial
Innovation Intention
and Entrepreneurship (WOCTINE)

Analysis of Banu
Factors 1, 2,* to Entrepreneurial Intention
Leading
Emine Bilgiseven , Prof. Dr. Murat Kasımoğlu1, 2
1
University of İstanbul Commerce, Turkey
Emine Banu Bilgiseven , Prof. Dr. Murat Kasımoğlu1, 2
1, 2,*
2
Business Administration Department, Turkey

1
University of İstanbul Commerce, Turkey
Abstract 2
Business Administration Department, Turkey

Entrepreneurship has fast acquired significance due to global competition, technological change and the development of the market
Abstract
economy. It has thus created impetus for scholars to do research into its antecedents. In the past, entrepreneurship was a mechanism
whereby one person established his/her own business venture using his/her own capital. However, this perception of
Entrepreneurship
entrepreneurship hashas since
fast acquired
changed.significance
Why do some duepeople
to global competition,
prefer technological
to set up their change
own business, butand
notthe development
others? of the has
This question market
led
economy. It has thus
us to investigate the created
factors impetus for scholars
that generate to do research
entrepreneurial into itssince
intention, antecedents.
it is theInmost
the past, entrepreneurship
significant predictor ofwas a mechanism
entrepreneurial
whereby onea key
behavior and person established
element his/her own
to understanding business
the process venture using
of establishing newhis/her
businessown capital.
ventures. However,
There thisofperception
is a variety factors which of
entrepreneurship
lead has since
to entrepreneurial changed.
intention, Why do
including some people
personal prefer to setenvironmental,
or psychological, up their own business, but
cognitive notdemographic
and others? Thisones.
question haspast,
In the led
us to investigate
researchers focusedtheonfactors that generate entrepreneurial
internal-psychological intention, since factors;
and external-environmental it is the however,
most significant
recentlypredictor
cognitiveoffactors
entrepreneurial
have also
behaviorimportance.
gained and a key element
The aimto of understanding
this study isthe to process
examineoftheestablishing
relationshipnewbetween
businessemotional
ventures. There is a variety
intelligence, of factors which
entrepreneurial self-
lead to entrepreneurial
efficacy, intention,and
risk-taking propensity including personal intention.
entrepreneurial or psychological, environmental,
In addition, cognitive
personal attitude, andisdemographic
which ones.motivational
one of the three In the past,
researchers
antecedents focused on internal-psychological
of Ajzen’s (1991) Theory of Planned and external-environmental
Behavior, figured in the factors;
studyhowever, recentlyfactor.
as a cognitive cognitive
Thisfactors
allowshave also
a better
gained importance.
understanding of theThe aimthat
factors of lead
this to
study is to examine
entrepreneurial the relationship
intention.Very betweenofemotional
few studies intelligence,
entrepreneurial intentionentrepreneurial
involve a samplingself-
efficacy,
of nascentrisk-taking propensity
entrepreneurs; most ofandthe
entrepreneurial
study subjectsintention. In addition,
are university personal
students. attitude,
This paper, on which is one
the other of the
hand, aimsthree motivational
to create a more
antecedents of Ajzen’sof(1991)
accurate understanding Theory
the factors thatoflead
Planned Behavior, figured
to entrepreneurial intention in by
thestudying
study asthea responses
cognitive offactor.
actualThis allows a rather
entrepreneurs better
understanding
than students. of the factors that lead to entrepreneurial intention.Very few studies of entrepreneurial intention involve a sampling
of nascent entrepreneurs; most of the study subjects are university students. This paper, on the other hand, aims to create a more
accurate understanding of the factors that lead to entrepreneurial intention by studying the responses of actual entrepreneurs rather
than students.
© 2019 The Author(s). Published by Elsevier B.V.
© 2019 The Authors. Published by Elsevier B.V.
Peer-review under responsibility of the scientific committee of the 3rd World Conference on Technology, Innovation and
Peer-review under responsibility of the scientific committee of the 3rd World Conference on Technology, Innovation and
Entrepreneurship
Entrepreneurship
© 2019 The Author(s). Published by Elsevier B.V.
Peer-review
Keywords: under responsibility
Emotional of the scientific
Intelligence; Entrepreneurship committee
Self-Efficacy; Riskof the 3rd
taking; World
Attitude; ConferenceIntention
Entrepreneurial on Technology, Innovation and
Entrepreneurship

1. Introduction
Keywords: Emotional Intelligence; Entrepreneurship Self-Efficacy; Risk taking; Attitude; Entrepreneurial Intention

Entrepreneurship has been used and recorded in a scientific sense for the first time by J.B. Say. After J.B. Say,
1. Introduction
Cantillon also used the word entrepreneurship (Top, 2012). Cantillon defined entrepreneurship as “buying and
Entrepreneurship has been used and recorded in a scientific sense for the first time by J.B. Say. After J.B. Say,
Cantillon
1877-0509 ©also
2019used the wordPublished
The Author(s). entrepreneurship (Top, 2012). Cantillon defined entrepreneurship as “buying and
by Elsevier B.V.
Peer-review under responsibility of the scientific committee of the 3rd World Conference on Technology, Innovation and Entrepreneurship

1877-0509 © 2019 The Author(s). Published by Elsevier B.V.

Peer-review under responsibility of the scientific committee of the 3rd World Conference on Technology, Innovation and Entrepreneurship

1877-0509 © 2019 The Authors. Published by Elsevier B.V.

Peer-review under responsibility of the scientific committee of the 3rd World Conference on Technology, Innovation and Entrepreneurship
10.1016/j.procs.2019.09.127
886 Emine Banu Bilgiseven et al. / Procedia Computer Science 158 (2019) 885–890
2 Bilgiseven & Kasımoğlu/ Procedia Social & Behavioral Science 00 (2019) 000–000

producing production input for an unspecified price” (Yüksel et al., 2015: 146). Cantillon and Say stated that the
entrepreneurs are risk takers because they invest in their own money (Fillion, 1997). On the other hand, Schumpeter
defined entrepreneurship as “ product and process development; finding of new export markets; creation of new raw
materials and a demand for semi-finished product resources; or a new organization structure” (Müftüoğlu et al.,
2005: 4).
The notion of entrepreneurial intention is important in the field of entrepreneurship literature and can be often
seen in studies on entrepreneurial behavior. According to Ajzen (1987), after the 90’s, researchers directed their
attention to the effect of personal entrepreneurial intention on entrepreneurial attitude. Also, the number of studies
on entrepreneurial intention increased. Some scholars think that, when their chaaracteristics are compared, personal
entrepreneurial intention has a bigger role in predicting entrepreneurial attitude. (Peng, Lu and Kang, 2012). Many
models have been developed historically to explain entrepreneurial intent. Ajzen’s (1991) ‘Planned Behavior Model’
is the most frequently used one in the field literature. According to Ajzen’s model (1991), factors that affect
entrepreneurial intent are attitudes, subjective norms and perceived behavior control that aim to display
entrepreneurial behavior. Ajzen (2002) stated that entrepreneurial attitude comprises maintenance of positive values
while launching a new enterprise, subjective norms, social pressure on potential entrepreneurs, perceived behavior
control as well as perceived hardships and ease of the potential entrepreneur (Nabi and Linan, 2013). In this study,
entrepreneurial attitude will be considered a cognitive factor.

* Corresponding author. E-mail address: e.banu.bilgiseven@gmail.com

2. Literature Review

Self-efficacy was expressed for the first time by Bandura (1977) as the faith of a person in his or her ability to
achieve a goal. Entrepreneurial self-efficacy was defined by Baum et al. (2001) and Boyd and Vozikis (1994) as the
self confidence of people related to the tasks in the entrepreneurial process. Chen et al. (1998) expressed it as
confidence of people in their skills during the process of establishing their own business (Tsai et al., 2016). Self-
efficacy is one of the important personal characteristics in studies about entrepreneurship (Koçoğlu and Hassan,
2013). Entrepreneurial self-efficacy is not only an important factor for people in deciding to become entrepreneurs
but also in understanding the process of establishing a new business venture ( Boyd and Vozikis, 1994; Zhao et al.
2005). There are many studies that show entrepreneurial self-efficacy is a leading indicator for entrepreneurial
intention and attitude (Scherer et al. 1989; Boyd and Vozikis, 1994; Krueger and Brazeal, 1994; Chen, Greene and
Crick, 1998; Zhao, Seibert and Hills, 2005). Also Kickul et al. (2009) talk about the existence of sufficient and strong
studies that claim there is a correlation between self-efficacy and intention.
Emotional intelligence has recently become a striking concept in entrepreneurship studies. Research indicates that
people with high EQ also have a higher level of entrepreneurial intention, and they demonstrate a high level of
entrepreneurial attitude. According to studies, there is a positive correlation between EQ and entrepreneurial intention
(Zempatakis et al., 2009; Mc Laughlin, 2010; Zakarevičius and Župerk, 2010; Ahmetoğlu et al., 2011; Uslu, 2015;
Timuroğlu and Akpınar, 2017; Tiwari et al., 2017). The positive characteristics of people with high EQ may
demonstrate much more enterprising attitudes. People with high EQ are more creative. Creativity is an important
characteristic for entrepreneurship, so it can be said that EQ has a very important role in entrepreneurial attitude (Cin
and Günay, 2013).
Entrepreneurship means having risk taking ability. It is possible to come across many studies that deal with the
relationship between risk taking and entrepreneurship in the field. It can even be said that risk taking behavior is the
most relatable concept to entrepreneurship. According to Ozaralli and Rivenburg (2016), high risk takers have a
stronger entrepreneurial intent. Lüthje and Franke (2003) found out that risk taking propensity has a strong effect on
entrepreneurial attitude, which also revealed a strong correlation between attitude and starting a new enterprise.
Ozaralli and Rivenburg (2016) demonstrated a meaningful correlation between risk taking and entrepreneurial
intent. Nabi and Linan (2013) found out that there is a strong correlation between risk perception and attitude as well
as perceived behavior control; and that risk perception has an indirect effect on entrepreneurial intention.
 Bilgiseven& Kasımoğlu/ Procedia Social & Behavioral Science 00 (2019) 000–000 3
Emine Banu Bilgiseven et al. / Procedia Computer Science 158 (2019) 885–890 887

Attitude is defined by Ajzen (1987) as the perception of desire for a certain behavior. This depends on the person’s
expectations and beliefs (Husna et al., 2010). The more positive a person perceives a new enterprise, the stronger the
entrepreneurial attitude will be as well as the entrepreneurial intention (Kibler, 2013). Ajzen (1991) stated that
intention for the targeted behavior depends on the underlying attitude. Intention directed at a specific action depends
on both the perception of the participants about the individual and social attractiveness of the behavior and their
perception of whether they can succeed in the said action. (João J. Ferreira et al., 2012).
Studies in the literature ( Kolvereid, 1996; Krueger et al., 2001; Autio et al., 2001; Souitaris et al., 2006; Gelderen
et al., 2008; Gird and Bagraim, 2008) demonstrate a positive correlation between attitude and behavior (Husna et al.,
2010). Zhang and Cain (2010) concluded that there is a positive correlation between planned behavior model factors
and entrepreneurial intention. Feder and Nitu-Antonie (2017) concluded that entrepreneurial training and behavioral
characteristics (attitude, subjective norm and perceived behavioral control) are a direct and most important indicator
of entrepreneurial intention. Miranda et al. (2017) found out that the most important factor in entrepeneurial intention
is entrepreneurial attitude.

3. Research Design and Management

Recently, there has been emphasis on the importance of cognitive factors in entrepreneurial studies. The purpose
of the study is to determine the factors in the emergence of entrepreneurial intention. For this end, personality factors
and cognitive factors will be considered together; and the concept of entrepreneurial attitude will be part of cognitive
factors. That cognitive factor is a component of Ajzen’s (1991) Planned Behavior Model. Apart from personality
factors and cognitive factors, in the study, EQ will also be another component that we have encountered often in
entrepreneurial studies lately. Entrepreneurial self-efficacy, risk taking tendency, EQ and entrepreneurial attitude will
be studied in terms of their relationship to entrepreneurial intention. The selected research method is quantitative; and
structural equation modeling is set up.

3.1. Research Question

The fact that previous studies focused primarily on personality factors meant that cognitive factors and
entrepreneurship processes were neglected. So, factors in entrepreneurial intention could not be stated. In the process
leading to entrepreneurial behavior, besides inherent or acquired characteristics, cognitive process and factors
naturally play an important role that cannot be ignored. As part of EQ personality factors, what role entrepreneurial
self-efficacy and risk taking propensity play on entrepreneurial intention will be considered as the research question.
Also included in the research question is, as part of cognitive factors, how entrepreneurial attitude may show
differences in terms of some demographic factors; and which factors are more influential in entrepreneurial intention.
Also, as part of the study, EQ, risk taking propensity, which is influential on entrepreneurial intention, and the
effect of entrepreneurial self-efficacy on entrepreneurial attitude as well as on entrepreneurial intention will be
investigated. In addition, the relationship between entrepreneurial attitude (as a cognitive factor) and entrepreneurial
intention will be studied. The intermediary role of entrepreneurial attitude in the relationship of EQ, entrepreneurial
self-efficacy, and risk taking with entrepreneurial intention will also be investigated.

3.2. Research Sample and Data Collection Tools

The research sample has been selected from among new businesses, i.e., real enterprises, so that the results can be
useful for the entrepreneurial eco-system.
The data of the study will be collected via a quantitative research method, namely, closed ended questions. EQ
scale to be used was developed by Carson et al. (2000) and adapted to Turkish by Aslan (2013); and it has 20 articles.
The scale is represented by five dimensions and 20 articles comprising 20 sub dimensions (Uslu, 2015).
Entrepreneurial Self-Efficacy Scale was developed by De Noble et al. (1999) and Kickul and D’Intino (2005). It
has six dimensions and 35 articles (7th and 9th questions were found out not to belong to any factor in the Turkish
validity study; and so, calculations were made out of thirty three questions) (Başol, Dursun and Aytaç, 2011).
888 Emine Banu Bilgiseven et al. / Procedia Computer Science 158 (2019) 885–890
4 Bilgiseven & Kasımoğlu/ Procedia Social & Behavioral Science 00 (2019) 000–000

Naktiyok, Karabey and Güllüce (2010) completed the Turkish validity test.
Risk Taking Propensity Scale was translated from Hisrich and Peters (2002)’s work. Alpkan, Keskin and Zehir
(2002) and Ören and Biçkes (2011) translated it and used it as “Risk Taking Tendency Scale” (RTPS). The scale has
one dimension and six articles.
The Entrepreneurial Attitude and Entrepreneurial Intention Scales, developed by Linan and Chen (2009), will be
used. Entrepreneurial attitude scale has one dimension and 5 articles; entrepreneurial intention scale has one
dimension, and 6 articles. Şeşen and Basım (2012) translated the entrepreneurial intention scale to Turkish.

3.3. Pilot Research Results

The pilot study was conducted in İstanbul Commerce University, Center of Knowledge Commercialization.
Questionnaires consisting of seventy questions were answered by forty entrepreneurs manually. The reliability and
validity analyses of the collected data, the scales and the sub dimensions were conducted via the SPSS 19 program.
Reliability was measured via Cronbach Alpha coefficient; and general reliability was found out to be 0,965. The
questionnaire has a high level of reliability for the study. The reliability levels of the scales are given below.

Table 1. Reliability
Scales Cronbach’s Alpha Coefficient Level of Reliability
Emotional Intelligence Scale 0,715 Strong
Entrepreneurial Self-Efficacy Scale 0,949 Very strong
Risk Taking Propensity Scale 0,711 Strong
Entrepreneurial Attitude Scale 0,923 Very strong
Entrepreneurial Intention Scale 0,804 Very strong

In the study, KMO (Kaiser-Meyer-Olkin Sampling Size Scale) was used to measure structural validity. The results
of the factor analysis for the scales are given below.

Table 2. Validity

Scales Kmo Explained Total Variance

Emotional Intelligence Scale 0,760 52,692
Entrepreneurial Self-Efficacy Scale 0,711 48,324
Risk Taking Propensity Scale 0,771 55,585
Entrepreneurial Attitude Scale 0,823 77,7439
Entrepreneurial Intention Scale 0,717 64,0393
 Emine Banu Bilgiseven et al. / Procedia Computer Science 158 (2019) 885–890 889
Bilgiseven& Kasımoğlu/ Procedia Social & Behavioral Science 00 (2019) 000–000 5

The results of the first level EQ scale verified five dimensions in the structure via VFA (Verifying Factor Analysis).
In this study, a second level VFA was also used due to mono-dimensionality. The obtained values verify the mono-
dimensional structure. The new variable explains the EQ scale by 52,692%. According to the factor analysis result
of the twenty question scale, the low 9 estimation is not included in the factor analysis table.
The first level of entrepreneurial self-efficacy scale VFA results were verified as a four dimensional structure
although it had originally six dimensions. In this study, second level VFA was used as it is a mono-dimensional study.
The gathered values verify the mono-dimensional structure. The new variable explains the EQ scale by 48,324%.
According to the result of the scale’s factor analysis, consisting of thirty three questions in total, low 7 estimation
does not appear in the factor analysis table.
According to risk taking scale factor analysis results, in accordance with the original, one dimension factorization
was realized. According to the factor analysis result of the scale, consisting of six questions in total, the low 1
estimation was taken off the factor analysis table. Total variance ratio is 55,585%.
It has been observed that there was factorization in 1 dimension in accordance with the original of the scales when
entrepreneurial attitude and entrepreneurial intention factor analysis were applied. While the total variance ratio was
77,43% for the attitude scale, this was 64,0383% for the entrepreneurial intention scale.
All the scales that proved to be valid and reliable will be used as mono-dimensional in the main study. In the light
of the data gathered in the pilot study, the main research will be continued.

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