ISBE 2012 Conference

1. Entrepreneurial intention and values in
the Basque Country
Garazi Azanza, University of Deusto
Tontxu Campos, University of Deusto
Juan A. Moriano, UNED

2. Purpose
The purpose of this study is to examine the value-
intention link in a sample of 450 Basque university
students, in order to identify which types of values
predict university students’ entrepreneurial
intentions.

3. Cognitive perspective in entrepreneurship research
Economic growth
Entrepreneurship
Entrepreneurial intention
Cognitive perspective:
? Analyses the internal process that takes place
beforehand in which education can be influential

4. Values and entrepreneurial intention
Desirable and trans-situational goals which act as principles
Values that guide people's lives
Values can cause behaviour
Desires Indicator of entrepreneurial intention
Habits
Beliefs
Entrepreneurial intention

5. Definition of values identified by Schwartz (1992)
Achievement
Power Stimulation
Personal success, through Hedonism
Social status and prestige; Emotion, novelty and
demonstrating competence, Sensual pleasure and
control or domination of achievements in life, for
in accordance with social satisfaction, for oneself.
people and resources. variety and change.
standards.
Benevolence Tradition.
Self-direction Universalism
Preservation and Respect, commitment and
Independence of thought and Understanding, appreciation,
enhancement of the welfare acceptance of the customs
decision-making, creation and tolerance and protection for
of those people with whom and ideas that traditional
exploration (creativity, the welfare of all people and
one is in frequent personal culture and religion provide
independence, freedom). nature.
contact. people with.
Conformity
Control of actions, Security
inclinations and impulses Harmony and stability of
likely to injure others, and society, both of relationships
violating the social norms and and oneself.
expectations.

6. Structure of relationships between values
Source: Ros et al. (1999), p.53.
Self-transcendence
Openness to change
Universalism
Self-direction
Benevolence
Stimulation
Conformity Tradition
Hedonism
Security
Conservation
Achievement Power
Self-enhancement

7. Previous research
Kecharananta and Moriano, Palaci and Moriano, Palaci and Licht (2010),
Baker (1999) Trejo (2001) Morales (2006) Noseleit (2010)
• Individualism • Values of an • Individualistic values • Openness to
• Independence individualistic positively predict change
• Resistance to nature (hedonism, the entrepreneurial • Self-enhancement
authority achievement, intention
power, stimulation
and self-direction)

8. Research hypotheses
Openess to
change +
Self-enhancement +
Entrepreneurial
- intention
Self-transcendence
-
Conservation

9. Entrepreneurial intention and socioeconomic variables
Family
environment Gender
Entrepreneurial
intention
Work Age
experience

10. Method
Sample and procedure
Others Economic
24% and
Men
Business
43%
450 university students Women
30%
57%
Average age: 20.06 (DT=3.50) Law
21% Engineering
25%
Invitation to participate in the research via e-mail
 Objectives
 Confidentiality
 Link to the online questionnaire (15’)

11. Method
Measures
Values Entrepreneurial intention Socio-demographic data
• Age,
• Spanish version of the • Scale of 5 items used in • Gender
Portrait Values Questionnaire previous studies on • Province
(PVQ) from Schwartz, et al. entrepreneurial intention • Socio-economic level
(2001) (Liñan and Chen, 2009;
• Employment status
• 10 value types (40 items) Moriano et al., 2007)
• Work and self-employed
• "For him/her being rich is • "One day I'm going to create a
experience,
important. He/she wants to business initiative"
• Contact with support
have a lot of money and
organisations for
expensive things”
entrepreneurs,
• Parents' education
• Existence of family
entrepreneurs

12. Method
Data analysis
 Partial Least Squares (PLS): SmartPLS
Estimates of standardised regression coefficients for the model paths, which can be used to
measure the relationship between latent variables.
 Outer model:
Relationship between constructs and
their indicators
 Inner model:
Relationship between constructs

13. Results
Data analysis: Outer model. Reliability of the measurements.
Individual Loadings (λ), Composite Reliabilities (CR), t-values and Average Variance Extracted (AVE)
Construct Indicators λ t CR AVE
Entrepreneurial intention I1 .90 128.79 .92 .70
I2 .89 114.67
I3 .56 2.71
I4 .89 118.63
I5 .88 108.84
Openness Self-determination .88 25.67 .82 .62
Stimulation .82 33.03
Hedonism .63 8.31
Self-transcendence Benevolence .93 1.04 .84 .72
Universalism .76 0.99
Self-enhancement Achievement .87 41.29 .87 .77
Power .89 39.00
Conservation Conformity .79 2.73 .75 .53
Security .90 3.52
Tradition .40 1.40
**p<.01

14. Results
Data analysis:
Outer model. Convergent and discriminant validity.
Means (M), Standard Deviations (SD), correlations, and discriminant validity
Construct M (SD) 1 2 3 4 5
1. Entrepreneurial intention 3.45 (1.30) .83
2. Openness 3.74 (.65) .34** .78
3. Self-transcendence 2.78 (.87) .13** .46** .84
4. Self-enhancement 3.93 (.62) .33** .32** .04** .87
5. Conservation 2.99 (1.30) .26** .26** .38** .29** .72
Notes. Diagonal elements are the square root of AVE between the constructs and their indicators. For discriminant
validity, diagonal elements should be greater than off-diagonal elements in the same row and column (**p<.01).

15. Results
Inner model
Openness
.24** Gender
Self- -.14**
enhancement .15**
.14**
Entrepreneurial Entrepreneurial
intention
Self- family
transcendence
.19**
Business studies
Conservation
**p<.01.

16. To conclude:
Openness to change & self-enhancement Intention
Implications:
 Adaptation of studies:
Efforts should be devoted to developing these values and work should then be
done to foster entrepreneurial intention in individuals.
 Gender, entrepreneurial family, and business administration education are
important psychosocial aspects for the development of entrepreneurial intention.

17. THANK YOU FOR YOUR ATTENTION
garazi.azanza@deusto.es

18. Research supported by:
CC- by inlinguaManchester CC- by Victor1558 CC- by Victor1558 CC- by Victor1558 CC- by Victor1558 CC- by Horia Varlan