The moderating role of self-efficacy on the cognitive process of entrepreneurship: An empirical study in Vietnam

Purpose: This study investigates the moderating role of self-efficacy on the cognitive process of entrepreneurship among Vietnamese students. Specifically, this study explores the moderating effects of entrepreneurial self-efficacy on the relationships between attitude towards entrepreneurship, subjective norms, perceived behavioral control, and intention to become entrepreneurs. Methodology: By adapting the theory of planned behavior and using data collected from 2218 students in Vietnam, the author utilizes a meta-analytic path analysis in order to show that entrepreneurial intention is strongly influenced by attitude towards entrepreneurship, followed by self-efficacy and perceived behavioral control. Particularly, structural equation modeling (SEM) was employed to test the model fit and hypothesis. Findings: The study indicates that subjective norms have both direct and indirect effects on entrepreneurship intention. Moreover, although the moderating impacts of self-efficacy on the relationships between subjective norms and perceived behavioral control is insignificant, the research study indicates that self-efficacy moderates the correlation between attitude towards entrepreneurship and start-up intention. Implications for theory and practice: Besides its contributions to entrepreneurship literature, this study also contributes to practices and implications at universities in Vietnam. Originality and value: These findings also illustrate that the theory of planned behavior can be appropriately implemented in the research context of emerging economies such as Vietnam. In addition, the study shows that the relationship between attitude towards entrepreneurship and entrepreneurial intention is moderated by entrepreneurial self-efficacy.