HOW AGE MODERATES THE RELATIONSHIP BETWEEN ENTREPRENEURIAL INTENTION, SELF-EFFICACY AND PROACTIVITY

Purpose - Entrepreneurial intention is an important topic in entrepreneurship research because none of any entrepreneurial process will not start without it. A variety of individual factors that influence a person’s intention to engage in a start-up business have been investigated. Of which age, self-efficacy and proactive personality are among the most important predictors. However, the direct impacts of age in formatting entrepreneurial intention remains inconclusive. Moreover, although individuals’ social, financial and human capital change as they age, extant literature has explored the impacts of the interaction between age and other cognitive characteristics on entrepreneurial intention to a limited extent. Therefore, the study aims to investigate how age moderates the effect of individuals’ perceived entrepreneurial self-efficacy and proactivity on their entrepreneurial intention to fulfill the above gaps. Methodology – The study used the Global Entrepreneurship Monitor’s (GEM’s) Adult Population Survey 2019 that covers 50 countries from 4 regions (Middle East & Africa, Asia & Pacific, Latin America & Caribbean, Europe & North America) to construct its dataset and SPSS 28 software to proceed statistical analysis. Results– The study found that age and entrepreneurial self-efficacy are a significant predictor of individual propensity to engage in entrepreneurial activities. Moreover, the older people are, the better individual experience, skill and knowledge predict their intention to launch a new venture. Implications – The findings imply the potentials of promoting entrepreneurship among third age groups because this group may have not only accumulated knowledge, experience and skills but also desire to continue their social and professional status and optimize their free time. The study also suggests the necessity of considering non-linear influence of age on entrepreneurial proactivity when promoting entrepreneurship in society. Originality/Value - The study enhances literature on positive relationship between entrepreneurial self-efficacy and entrepreneurial intention, while enriching literature on the role of demographic characteristics in entrepreneurial development process. The study also expands empirical evidence about the effects of proactive personality on entrepreneurial intention, which may vary over the course of life.