Determining the Effect of Intrinsic Motivation and Self-Efficacy on Entrepreneurial Mind-set with Financial Literacy as a Moderating Variable

Agung Edy Wibowo; Asman Abnur; Hendra Syaiful

doi:10.59890/ijaer.v4i1.189

Authors

Agung Edy Wibowo Batam Tourism Polytechnic
Asman Abnur Batam Tourism Polytechnic
Hendra Syaiful Batam Tourism Polytechnic

DOI:

https://doi.org/10.59890/ijaer.v4i1.189

Keywords:

Intrinsic Motivation, Self-Efficacy, Entrepreneurial Mind-set, Education

Abstract

This study investigates the determinants of entrepreneurial mindset among university students by examining intrinsic motivation, self-efficacy, and financial literacy, with financial literacy as a moderating variable. Using a quantitative approach and PLS-SEM (Smart-PLS), data were collected from 81 undergraduate students who had completed introductory accounting, financial management, or entrepreneurship courses. The measurement model demonstrates satisfactory reliability and validity. The structural results show that intrinsic motivation and self-efficacy do not have a significant direct effect on entrepreneurial mindset, while financial literacy has a strong positive influence. Financial literacy significantly moderates the relationship between intrinsic motivation and entrepreneurial mindset but does not moderate the effect of self-efficacy. The model explains 93.8% of the variance in entrepreneurial mindset. The findings emphasize the importance of financial literacy and support effectuation-based entrepreneurship education.

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