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Student entrepreneurial intentions in emerging economies: institutional influences and individual motivations

Adeniyi Damilola Olarewaju (J.E. Cairnes School of Business and Economics, University of Galway, Galway, Ireland)
Lizbeth Alicia Gonzalez-Tamayo (Engineering and Technology School, UDEM, San Pedro Garza Garcia, Mexico)
Greeni Maheshwari (RMIT International University - Saigon South Campus, Ho Chi Minh City, Viet Nam)
Maria Carolina Ortiz-Riaga (Universidad Militar Nueva Granada, Bogota, Colombia)

Journal of Small Business and Enterprise Development

ISSN: 1462-6004

Article publication date: 12 December 2022

Issue publication date: 19 May 2023




This study aims to incorporate macro- and micro-level institutional factors into the theory of planned behaviour (TPB) model to understand their effect on entrepreneurial intentions (EI) amongst students in nations from Latin America and Caribbean region and India.


Using non-probability sampling technique, data was collected from Colombia, Dominican Republic, India and Mexico, and consisted of 757 useable responses from students. Structural equation modelling was employed to conduct confirmatory factor analysis while path analysis was used to test the hypotheses.


Combined samples from all countries showed information and communications technology infrastructure, usage and adoption (ICTi) and educational support had an indirect effect on EI through personal attitude (PA) and perceived behavioural control (PBC) but not through subjective norms (SN). Additionally, it was found that while PA and PBC have a direct influence on EI; SN does not. Further, an inverse relationship was found between age and EI, while respondents' gender, academic programme and entrepreneurship education had no significant effect on EI.

Practical implications

This study suggests enhanced investments in developing and emerging economies by enabling institutional environments at the macro- and micro-level that could help promote EI.


The current paper contributes to the EI literature by incorporating institutional factors at macro- and micro-levels in developing and emerging economies towards a more integrative TPB.



The authors are grateful to Claribel Ferreiras Alba for data collection in Dominican Republic. The authors would also like to thank two anonymous reviewers for their insights in strengthening the manuscript.

Funding: This study has no funds.


Olarewaju, A.D., Gonzalez-Tamayo, L.A., Maheshwari, G. and Ortiz-Riaga, M.C. (2023), "Student entrepreneurial intentions in emerging economies: institutional influences and individual motivations", Journal of Small Business and Enterprise Development, Vol. 30 No. 3, pp. 475-500.



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