Risk-taking, knowledge, and mindset: unpacking the antecedents of entrepreneurial intention

Abstract This paper expands the existing literature on entrepreneurial intentions by employing the integrated model of external factors, personality characteristics, the theory of planned behavior, and social cognitive theory to explore the effects of risk-taking, entrepreneurial knowledge, entrepreneurial mindset, and cognitive antecedents on entrepreneurial intention. Adopting a cross-sectional approach, this study collected data from 422 respondents using questionnaires, and the findings were analyzed using partial least squares-structural equation modeling. The results suggest that risk-taking is closely related to opportunities and shapes entrepreneurial self-efficacy; entrepreneurial knowledge is crucial in developing entrepreneurial intention by shaping cognitive antecedents. The effect mechanism of the entrepreneurial mindset can change the coping defense mechanism by boosting attitude and self-confidence. Attitude towards entrepreneurship is one of the best factors in driving entrepreneurial intention and will subsequently directly affect behavior. Unleashing entrepreneurial competencies is vital for enhancing entrepreneurial intention. Furthermore, entrepreneurial passion can act as a moderator among attitudes toward entrepreneurship, entrepreneurial self-efficacy, and entrepreneurial intention. The findings also provide seminal insights into external factors, cognitive antecedents, and entrepreneurial intentions for policymakers to design education programs.