The factors effecting entrepreneurial intention of university students: case of Mongolia

Small and medium sized businesses with entrepreneur orientation have been developing rapidly in recent years creating the wealth for the nations and some of them often to lead becoming large global enterprises. As the phenomenon is progressing promptly, the interest in studying entrepreneur intention and the factors affecting to becoming entrepreneur in relation to the education and attitude. Numerous researches have been paid attention on investigating if the college program nurturing the intention of choosing entrepreneur or other factors contribute to boosting them to start own businesses among the college students as well as graduates. To contribute to the current field of the study, this study aims at researching different factors affecting the entrepreneur intention including some factors like attitude of the students, subjective norms, entrepreneur education and perceived behavior control using sample survey. The survey involved 568 business major college students. The results demonstrated that the personal attitude has a significant influence on entrepreneur intention as majority of participants expressed their willingness starting their own businesses despite potential challenges and opportunities they may face pursuing this career path. The determinants such as subjective norms and perceived behavior control both represented positive impacts on entrepreneurial intention of participants. Conversely, an entrepreneur education background or specifically the courses they completed so far on business related studies, in their view, had a slight impact in their entrepreneur intention.


INTRODUCTION
An entrepreneurship is valued as a respectable strategy for the national development of any country and the start-up businesses have been supported by the countries governments and reflected in their economic policies. Researchers have considered an entrepreneurship as an essential aspect of the development of a country that enables achieving an adequate economic growth and serves as one of the driving forces of the development (Baumol, Litan, & Schramm, 2007).
A reinforcement of entrepreneurship results in numerous benefits like widening employment opportunities, dwindling the dependence on a single industry, boosting of capital flow that strengthening the business environment, promoting prospective businesses, using an outsourcing to provide effective operations and introducing breakthrough innovations. Furthermore, it is regarded as a booster of social changes through creating promising new products and services that contribute to replacing old technologies and practicing green technologies that fully satisfies the millennium we live in.
Venture creation is a significant source of employment for all countries regardless the development level (Uddin & Bose, 2012). Paradoxically, while technology and innovation start-up companies have been established in recent years in Mongolia, unemployment among higher education graduates remains high, and it became one of the recent social challenges. Therefore, the universities and colleges" contribution in addressing the challenge via sustaining the quality entrepreneur education through providing a novel teaching curriculum at colleges that enable preparing graduates with entrepreneurship mind is getting an agenda.
Objective of the current study aimed at studying correlation between entrepreneur intention and attitude, subjective norm, perceived behavior control, and entrepreneur education.

LITERATURE REVIEW
The previous studies provided in different countries to identify the factors affecting an entrepreneurial intention.
According to the earlier studies it is frequently studied from the perspectives of personal psychological factors focusing personal traits and behavior, later scholars started giving a significance inclusion of other demographic factors like age, origin, religion, level of education and employment.
According to Azjen (2002) intentions to perform behaviors can be predicted as well as attitudes toward behavior. Therefore, it can be concluded that personal outlook, attitude and close personal associates have a significant influence on an entrepreneur intention. An entrepreneur intention is a personal intent and an intellectual process towards to implementation of the goals (Gupta & Bhawe, 2007).
Becoming an entrepreneur is a voluntary, sensible decision and the entrepreneur decision making is explained by entrepreneur intention model. Thus, an entrepreneur intention can be considered as an element of recognizing an entrepreneur behavior performing and an intention to perform the behavior depends on the personal attitude.
"Theory of planned behavior" proposed by Azjen (1991), applied in similar studies more frequently, explained thoroughly factors affecting behavioural intentions intensified researches in entrepreneur intentions and has been applied as the key theory.
Theory of planned behavior. As stated previously the current concept is widely applied in entrepreneur intention research that is based on the concept "theory of reasoned action" proposed by Ajzen and Madden (1986). An intention to perform and actual performance have considered as factors that are strongly correlated and indicates the behavior. An intention expresses the motivation to perform the certain behavior and a strong intention increases the probability of performing the behavior. Three interrelated determinants are used for explaining the intention. Attitude toward behaviorthe degree to which performance is positively or negatively valued. The outcome of the performance can be determined by the positive or negative experience (Ajzen, 2002;Kolvereid, 1996). An attitude is determined by a certain outcomes, behaviors towards to a certain performance and personal skill, personality can influence it. Personality includes numerous factors like risk taking skill, and goal orientation etc, Subjective normsthe state can be explained by attitude, beliefs and perceptions of people surrounding an individual. People develop beliefs on what is acceptable or not acceptable and these beliefs shape one"s perception of behavior and intention to perform or not. If the social view is positive towards to the entrepreneur intention increases or if the perception is negative the intention declines (Ajzen, 2001).
Perceived behavior control -refers to the person"s belief that the performance of behavior is under his control. In other words, it is a perception on whether it is easy or complicated performs certain behavior. "Perception" can be determined by the past experiences, ability to overcome forthcoming challenges (Scheiner, 2009). More people get experienced and obtain essential knowledge, skills become motivated in performing the behavior.
Entrepreneurial education -Bakri & Mehrez (2017) , María de la Cruz del Río Rama et al (2016) discussed that college education played a significant influence in attitudes toward entrepreneur intention over roles models. Entrepreneurship education is also assumed enhancing among students increasing awareness of entrepreneurship as an another career path to employment Tae  The present research we aimed at revealing the interrelationship between entrepreneur education background and entrepreneur intention in relation to the theory of planned behavior. Entrepreneur education supports the entrepreneurs to perform their intentions to do business and develop necessary skills (Gorman, Hanlon, & King, 1997). According to Linan (2004) an entrepreneur education increases the intent of becoming entrepreneur. Entrepreneur education enables entrepreneurs developing key skills for managing the business. In selecting the model of the current study both theory of planned behavior by Ajzen and model of entrepreneurial intention by Shapero and Sokol (1982) are considered with inclusion of a new determinant entrepreneur education as it is demonstrated below.

RESEARCH METHODOLOGY
The research embraces a quantitative method to empirical support for the hypothesis. To study the how attitude toward behavior, perceived behavioral control and subjective norms and entrepreneur education have an impact in entrepreneurial education we carried out survey among the Business School students who attended the subject in entrepreneurship in the academic year 2019 between May-June, 2019. A total of 577 questionnaires were collected and 568 questionnaires considered valid for the analysis. The survey instrument included 22 questions that are grouped in to 22 questions along with the four questions on personal background of the respondents.

Background information on the survey participants
Out of 568 participants 354 or 62.3% are female and 214 or 37.7% male students studying in different years of their study. By the year of study, 40 students are studied in their first year, 186 students in their second year, 196 of them continued studying in the third year and 146 of them were the forth year students.
For testing relevance for factor analysis for data set, Kaiser-Meyer-Olkin (KMO) measure of sampling adequacy is used. According to КМО indicated .845 which means the size of the sample is adequate for the study. In addition, it considered essential to apply the Barlett test of Sphericity to assure that factor analysis can be applied to the data set and the results are shown below in table 1. Reliability test: For the internal reliability of each factor Cronbach Alpha coefficient is used, which according to Nunnally (1978) a value greater than 0.7 to be considered acceptable. In our case, cronbach ɑ demonstrated value of .880 which is acceptable for further analysis (table 2).
T test is carried out to test whether the students" year of study or academic experience has an influence in an entrepreneur intention of the students. The test results are presented in the table 3.

Source: Authors
The results show that the students who studied in senior years tended to have an ambition of becoming an entrepreneur. T test is used to verify if the courses offered within the curriculum towards developing entrepreneurship knowledge and skills such as "Business and Society", "Business Planning", Project management", and "Small and Medium Enterprise Management" have an impact in shaping entrepreneur intention results are summarized in table 4.

Source: Authors
The students who have successfully completed "Business and Society", "Project Management", "Small and Medium Enterprise Management" courses had high motivation in becoming entrepreneurs compared to the ones who did not enroll the above courses, though "Business and Society" course had no significant impact in an entrepreneur intention of the students regardless the course completion.
Moreover, test on whether the family members or close people engaged in the business had an influence in students" entrepreneur intention (refer to table 5).

Source: Authors
The test results demonstrate that the students" business related family background have an influence on their entrepreneurial intention (mean value 3.85) compared to the ones who had no business related family background. The participants with none business family background embraced low intention (mean value 3.18) in becoming entrepreneurs. Based on the findings it can be concluded that the business family background is crucial in students" entrepreneur intention. Factor analysis presented in table 6. .000 **. Correlation is significant at the 0.01 level (2-tailed).

Source: Authors
The results demonstrate that an attitude toward to entrepreneurial intention of business school students [r = .563, p < 0.01], perceived behavioral control [r = .473, p < 0.01], subjective norm [r = .426, p < 0.01] embraced a positive strong correlation, but entrepreneurial education [r = .286, p < 0.01] revealed a weak correlation. Entrepreneurial intention in the study as subjective norm presented [r = .498, p < 0.01], and perceived behavioral control [r = .473, p < 0.01] showed a positive strong correlation, but an entrepreneurial education had a moderate correlation. Attitude toward to entrepreneur to subjective norm showed a strong positive correlation [r = .498, p < 0.01], but entrepreneur education [r = .385, p < 0.01], perceived behavioral control [r = .324, p < 0.01] revealed moderate correlation. Perceived behavioral control to the attitude to entrepreneur had a positive and strong correlation [r = .417, p < 0.01], and an entrepreneur education [r = .370, p < 0.01] and subjective norm [r = .324, p < 0.01] presented a moderate correlation. For the confirmation of the hypotheses regression analysis is carried out (refer to table 7).  figure 3).

CONCLUSION AND DISCUSSION
Establishing a new business venture is related with the social skills of the younger generation and their knowledge, skills and attitude are decisive in shaping future of all sectors. Accordingly, numerous studies have been conducted globally in recent years in youth entrepreneur intention, the factors influencing it, entrepreneur education and attitude.
The current study aimed at researching factors influencing in an entrepreneur intention to contribute reinforcement of application of theories and concepts in the case of business students".
An attitude toward to entrepreneur, subjective norm, perceived behavior control and entrepreneurial education are taken as independent variables, and an entrepreneur intention considered as a dependent variable and to support the proposed hypothesizes various analyses such as reliability test, correlation and regression analysis are carried out.
As correlation analysis show the all factors were correlated with the entrepreneur intention except the entrepreneurial education which indicated low correlation.
According to the results, senior year students" intention to become entrepreneurs was comparatively high. Increase in attitude toward to entrepreneur by one point resulted in the increase of entrepreneur intention by 0.512 (beta) point. Particularly, the students are ready to take an opportunity and start their own businesses as they consider it advantage. In overall, the students participated in the survey have a positive attitude toward the entrepreneurship.
Subjective norm also has a positive influence in entrepreneur intention and the survey results show that when family or close people"s influence increases by one point, the entrepreneur intention increases by 0.327 (beta) point. The students who are from families who engaged in business had more positive attitude toward entrepreneur intention as they have support and sympathy. The study revealed that perceived behavioral control has a positive impact in the entrepreneur intention. As the knowledge and skills in performing a private business upgrades the behavior control increases. In the survey, one point increase of perceived behavioral control resulted in the 0.331 (beta) point in entrepreneur intention. It is clearly seen from the study that despite the potential challenges in performing business, the confidence build upon education experiences contributes to the increase of the entrepreneurial education. According to the survey, the respondent felt confident in overcoming challenges in developing their business ideas.
The survey results confirmed that more the students enroll and complete the courses on entrepreneurship, the more their entrepreneur intention increases by 0.211beta point. Although the entrepreneur education in overall showed a slight impact to the entrepreneur education, in their view the knowledge and education offered at the university influenced positively.