Theme: Explanatory factors of the entrepreneurial intention of university students in Mali

Mariko, Ousmane; Gaba, Mahamadi Article Theme: Explanatory factors of the entrepreneurial intention of university students in Mali The Journal of Entrepreneurial Finance (JEF) Provided in Cooperation with: The Academy of Entrepreneurial Finance (AEF), Los Angeles, CA, USA Suggested Citation: Mariko, Ousmane; Gaba, Mahamadi (2022) : Theme: Explanatory factors of the entrepreneurial intention of university students in Mali, The Journal of Entrepreneurial Finance (JEF), ISSN 2373-1761, Pepperdine University, Graziadio School of Business and Management and The Academy of Entrepreneurial Finance (AEF), Malibu, CA and Los Angeles, CA, Vol. 24, Iss. 3, pp. 1-16, https://doi.org/10.57229/2373-1761.1447 , https://digitalcommons.pepperdine.edu/jef/vol24/iss3/6 This Version is available at: https://hdl.handle.net/10419/264440 Standard-Nutzungsbedingungen: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden. 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If the documents have been made available under an Open Content Licence (especially Creative Commons Licences), you may exercise further usage rights as specified in the indicated licence. https://creativecommons.org/licenses/by-nc/4.0/ The Journal of Entrepreneurial Finance The Journal of Entrepreneurial Finance Volume 24 Issue 3 Conference Special Issue Article 6 6-2022 Theme: Explanatory factors of the entrepreneurial intention of Theme: Explanatory factors of the entrepreneurial intention of university students in Mali university students in Mali Ousmane Mariko Grenoble Economics Research Centre (France) Mahamadi Gaba Cheick Anta Diop University of Dakar (Senegal) Follow this and additional works at: https://digitalcommons.pepperdine.edu/jef Part of the Entrepreneurial and Small Business Operations Commons Recommended Citation Recommended Citation Mariko, Ousmane and Gaba, Mahamadi (2022) "Theme: Explanatory factors of the entrepreneurial intention of university students in Mali," The Journal of Entrepreneurial Finance : Vol. 24: Iss. 3, pp. 84-99. Available at: https://digitalcommons.pepperdine.edu/jef/vol24/iss3/6 This Article is brought to you for free and open access by the Graziadio School of Business and Management at Pepperdine Digital Commons. It has been accepted for inclusion in The Journal of Entrepreneurial Finance by an authorized editor of Pepperdine Digital Commons. For more information, please contact bailey.berr[email protected]. Theme: Explanatory factors of the entrepreneurial intention of university students in Mali Ousmane MARIKO 1 Mahamadi GABA 2 1 Lecturer-researcher, Faculty of Economics and Management of Bamako, Mali, Email: ousm[email protected], Associate Researcher, Grenoble Economics Research Centre (France) 2 PhD candidate in Climate Change Economics, Cheick Anta Diop University of Dakar (Senegal). Email: [email protected] 1 Mariko and Gaba: Theme: Explanatory factors of the entrepreneurial intention of unPublished by Pepperdine Digital Commons, 2022 ABSTRACT Graduate unemployment remains a concern for many African countries. However, in recent years there has been a growing interest in entrepreneurship among young people. The objective of this research is to study the entrepreneurial motivation of young graduates. Through primary data collected from students of the FSEG's entrepreneurial bachelor's degree programme and using a multiple linear regression model, it was found that: attitudes associated with behaviours have a positive and significant impact on the decision to become an entrepreneur. Social norms are determining factors in the explanation of entrepreneurial intention and finally, factors associated with perceived control contribute significantly to the explanation of entrepreneurial intention. In the light of these results, it would be wise for authorities to implement actions aimed at reinforcing the attitudes associated with student behaviour through entrepreneurial culture. In this case, a strong political determination is needed through legislation to make entrepreneurship a factor in bringing down unemployment among university graduates. Keywords: entrepreneurial intention, multiple linear regression, planned behaviour, students, Mali. 2The Journal of Entrepreneurial Finance, Vol. 24, Iss. 3 [2022], Art. 6 https://digitalcommons.pepperdine.edu/jef/vol24/iss3/6 1. INTRODUCTION The issue of youth employability is one of the major challenges in developing countries (Betcherman and Khan, 2015). Despite the various efforts made in the field of education in many African countries, the problem of professional integration remains a subject that catches the attention of many researchers throughout the continent. According to the World Bank's World Development Indicators (WDI, 2020) statistics, the unemployment rate in sub-Saharan Africa is estimated at 6.6% compared to 6.5% worldwide. Furthermore, employment in Africa is naturally, in fact, it mainly based dominated by informal employment, which accounts for more than 90% of total employment in West, Central and East Africa (ILO, 2020). This situation raises the main problem of the adaptation between academic training and professional integration. The African Development Bank's Economic Outlook (2020) reveals that 12 million graduates come into the labour market in Africa every year. It is therefore urgent for governments, international institutions and the unemployed to develop strategies to create jobs and reduce unemployment. Among these, entrepreneurship is seen as a possible solution that is able of creating added value (Acs and Armington, 2003), reducing the unemployment rate in a sustainable way (Birch, 1987) but also favour innovation (Reynolds and al., 1994). In recent years, there has been an increase in youth interest in entrepreneurship in Africa (AfDB, OECD, UNDP, 2017). Indeed, it has been observed that today, young people attach much more importance to undertake than they used to for economic reasons. According to OECD (2017), 75% of the working population believe that entrepreneurship is a good career choice. Furthermore, young Africans are now increasingly ambitious and develop personal initiatives with the intention of self-employment (Saiba et al. 2020). In Mali, entrepreneurship is attracting increasing interest from the authorities. The government has put in place numerous initiatives to support young people and potential entrepreneurs in setting up a business. These include the creation of the National Employment Agency (ANPE), the Agency for the Promotion of Youth Employment (APEJ), the Investment Promotion Agency (API), and the Support Fund for Vocational Training and Apprenticeship (FAFPA). In addition, bilateral and multilateral partners also developed other initiatives. However, there are few studies on the issue of entrepreneurial motivation. Studies in the field of investigating students' motivation to undertake entrepreneurship have mainly focused on the characteristics of youth entrepreneurship (Dougnon and al. 2013), descriptions of female entrepreneurship (Kanté, 2020) ... However, the literature on the subject identifies different channels explaining young people's motivation to engage in entrepreneurship. Entrepreneurial intention is defined as a person’s willingness to create his or her own business (Thompson, 2009). Thus, Benredjem (2010) explains the choice of entrepreneurship by individual characteristics, the environmental or by cultural specificities. On the other hand, according to Lecointre (1993), entrepreneurship is above all a question of mentality. Maalej (2013) finds that the intention of graduates to undertake is due to the importance of attitudes associated with behaviour as well as the importance of social norms in entrepreneurial intention. In this article, we seek to understand the factors explaining students' motivation to become involved in entrepreneurship. Thus, the main question to be answered is: What are the factors explaining students' entrepreneurial intention in Mali? The hypothesis is that the variables explaining students' behavioural attitudes, social norms and perceived control influence their intentions to become involved in entrepreneurship. In order to carry out this research, we collected data from students at the Faculty of Economics and Management in Bamako, with a focus on entrepreneurship. The questions are diverse and 3 Mariko and Gaba: Theme: Explanatory factors of the entrepreneurial intention of unPublished by Pepperdine Digital Commons, 2022 wide-ranging and are based on the behavioural and social characteristics of the students. Conceptually, we were inspired by intention models such as Ajzen's (1991) theory of planned behaviour in social psychology and Shapero's (Shapero and Sokol, 1982) entrepreneurial event model in entrepreneurship. The paper is organized as follows. Section 2 brings theoretical and empirical approaches followed by Section 3, which provides university education and youth entrepreneurship in Mali, in fact, the stylised facts (some background information about education and youth entrepreneurship in Mali). Section 4 discusses the data and the methodology of this paper. Section 5 analysed the empirical results and the last section concludes. 2. THEORETICAL AND EMPIRICAL APPROACHES Intentions in the areas of entrepreneurship are defined as an individual's willingness to undertake an entrepreneurial activity and to start a new business at some point in the future (Thompson, 2009). Thus, the measurement of entrepreneurial intent could be seen as a measure of latent entrepreneurship in society (Verheula and al., 2006). It helps to understand the entrepreneurial process and to predict entrepreneurial activities by identifying the antecedents of entrepreneurial intent (Davidsson, 1995; Bird, 1988). Intention can be defined as a state of mind directing a person's attention towards a specific object or path in order to achieve something' (Vesalainen and Pihkala, 1999). Entrepreneurial intent is therefore, referred to as the intent to start his or her own business in the future (Van Gelderen and al., 2008). Bird (1988) stated that entrepreneurial intent is an individual state of mind, which orients and guides them towards the development and implementation of a new business concept. A number of researches focusing on factors affecting entrepreneurship have been conducted, such as personality traits (Franke and Lüthje 2004; Hisrich and Peters 1995; Johnson 1990; Bonnett and Fuhrmann 1991), abilities and experiences (Bird, 1988) and planned behaviour (Ajzen, 1987, 1991; Ajzen and Fishbein, 1980; Davidsson, 1995; Autio, and al., 2001; Franke and Lüthje, 2004). There are conflicting results on the role of personal characteristics (Brockhaus and Horwitz, 1986; Robinson and al., 1991). The intent formation is a well-established sub-field of psychology that has been successfully transferred and applied to the field of entrepreneurship (Douglas and Shepherd, 2002). Intent towards intentional behaviour is essential for understanding the antecedents, correlates and consequences of that behaviour (Ajzen, 1987; Ajzen and Fishbein, 1980). In particular, entrepreneurial intentions are crucial for understanding the overall process of entrepreneurship because intentions define the key initial characteristics of new organisations (Bird, 1988; Katz and Gartner, 1988; Krueger and Carsrud, 1993). Bird (1988) was one of the first authors to emphasise the importance of intentions in the study of entrepreneurial phenomena, arguing that they are essential in distinguishing entrepreneurial activity from strategic management. Intent-based models, oriented towards theory and process approaches, represent a direct analysis of entrepreneurial behaviour. They provide insights into how decisions are made to start a new business before examining the practical opportunities available to the individual (Low and MacMillan, 1988). Thus, most authors agree that situational factors or precipitating events interact with individual variables to trigger the intent or decision to act (Learned, 1992). The main individual factors discussed as precursors of entrepreneurial intent are personality, background, disposition and proactivity, which represent rather stable traits or characteristics (Bird, 1988; Krueger, 1993). 4The Journal of Entrepreneurial Finance, Vol. 24, Iss. 3 [2022], Art. 6 https://digitalcommons.pepperdine.edu/jef/vol24/iss3/6 Although the theoretical frameworks used to study business creation remain varied, intention models have the advantage of taking into account the heterogeneity of the situations encountered and the processual aspect of the phenomenon (Bird and Jelinek, 1988; Davidsson, 2005), thus offer and promise research prospects (Kruger, 2007). 3. GRADUATE EDUCATION AND YOUTH ENTREPRENEURSHIP IN MALI: STYLISED FACTS Entrepreneurship is an alternative to employability for university graduates in Mali, but only if opportunities for business development exist. (Mariko, 2012). The results of this study should guide Malian decision-makers in their choice of measures to promote the professional integration of graduates, looking at the increasingly worrying state of the occurrence. Entrepreneurship is seen as an opportunity to be seized, but it will be a targeted entrepreneurship. Indeed, in a knowledge-based economy, higher education can help economies catch up with other more technologically advanced societies. Graduates students are more likely to be knowledgeable and to make better use of new technologies. They are also more likely to develop new tools and techniques themselves. Their knowledge can also improve the skills and understanding of their non-graduate colleagues, while the greater level of confidence and know-how instilled through higher education could lead to entrepreneurship with positive effects on job creation. Studies on the employment problems of graduates in Mali reveal that they are in a situation of “formatting” for wage employment because they believe that the training they receive is only useful in the public service or private sector as employees. However, graduates extremely find difficult in getting job using the traditional way, particularly the public and private sectors as employees. One of the alternatives is entrepreneurship. Considering entrepreneurship as an opportunity, require to define the most suitable form of entrepreneurship. In fact, the suitable form is about the one that creates benefit (Gibb, 1992; Bruyat, 1993; Hernandez, 1999) and is the one we are interested in. It refers to the term entrepreneurial spirit or entrepreneurship as opposed to undertaking. The entrepreneurial spirit can be found in business situations but also outside the company in daily life (e.g. the Telethon). The broad vision of entrepreneurship that interests us is more related to attitudes and, ultimately, to know-how. Three main educational fields are usually distinguished: knowledge, know-how and behaviour. The research in education field on life skills aims to find pedagogical means that enable learners to acquire this mastery through the development and implementation of innovative projects. More youth projects, less innovative projects. The entrepreneur is not only the creator of a company (Schumpeter 1935). There is a needed policy, which aims at creating entrepreneurial projects. This requires establishing partnerships between government and its partners. However, although entrepreneurship might be a mean in reducing unemployment among this target group, it is not medicine. Not everyone can become an entrepreneur. This implies that we must work to develop the traditional networks of integration into employment through a real policy of increasing the demand for production. Then, which mechanisms can be used? Since it is a question of the integration of new graduates, the innovative nature of start-ups will be emphasised. It is about going beyond the classic system of integration through the "3Cs" or the "3Ms" 3which are generally oriented towards self-employment and their impact 5 Mariko and Gaba: Theme: Explanatory factors of the entrepreneurial intention of unPublished by Pepperdine Digital Commons, 2022 in terms of productivity and significant job creation remains weak. Therefore, little added value. The theoretical study of the concept of entrepreneurship has shown us the place of the skills acquired by graduates in the creation of enterprises. Indeed, in the entrepreneurial literature, competence is defined as the ability of actors to learn and perform tasks (Lorrain, Belley and Dussault, 1998)4. Also, many research works have shown that the entrepreneur's competencies are one of the main conditions, if not the essential condition for the success of a very few enterprises. This is why entrepreneurial education, in fact, the creation of an entrepreneurial field, must be increasingly imposed on our universities. 4. METHODOLOGICAL APPROACH: 4.1 Conceptual framework: The conceptual framework of our study is based on the model of entrepreneurial behaviour proposed by Ajzen (1985, 1991) and Shapiro and Shokol (1982). The theory of planned behaviour gives the individual's intent, the central place in the genesis of behaviour (Maâlej, 2013). It is a model of intent originally used in social psychology and an improvement on the theory of reasoned action. This theory says that an individual's intent is determined by three factors: their attitude towards entrepreneurship, their perception of social norms and the control they think about the situation. Thus, individuals' attitudes predict intention, which in turn predicts behaviour. The first factor refers to the behaviour of the potential entrepreneur, i.e. his or her profile, the so-called trait approach (Cunningham and Lischeron 1991). A student's attitude towards entrepreneurship depends on his or her traits, vision, but also his or her academic background and professional orientation (Tounès, 2006). The perception of social norms had related to the social pressure that encourages the student to undertake or not. The latter is often linked to the notion of attractiveness developed by Shapero and Sokol (1982) and represents the degree of attraction that an individual feels towards the creation of a business. Finally, the last factor refers to the entrepreneur's ability to overcome obstacles. Conceptual model 6The Journal of Entrepreneurial Finance, Vol. 24, Iss. 3 [2022], Art. 6 https://digitalcommons.pepperdine.edu/jef/vol24/iss3/6 Source: Theory of Planned Behaviour (TPB), Ajzen (1991), p 182. 3.2 Choice of model : In this work, we will use the multiple linear regression model with the different factors (explanatory variables). This choice is explained by the nature of our dependent variable, which is a 7-point Likert scale variable where 1= total disagreement and 7 = total agreement, thus ruling out the possibility of choosing binary models (logit or probit). Therefore, the multiple linear model is the most widely used to study entrepreneurial intention (see for example: Autio and al., 2001; Goethner and al., 2009; Kolvereid and Isaksen, 2006...). It is therefore the appropriate model for the current study. 3.3 Construction of the database : The data used in this study come from the survey conducted at the Faculty of Economics and Management (University of Social Sciences and Management of Bamako in 2021). The students targeted were those in the entrepreneurial degree field. The sample contains 148 students and was drawn by the convenience method. • Explained variable Entrepreneurial intention is measured through the trade-off between entrepreneurship and paid job catch on a 7-point Likert scale where 1 = total disagreement (individual preferring of paid job) and 7 = total agreement (individual preferring entrepreneurship). • Explanatory variables The explanatory variables were chosen based on the existing literature on the subject (DzakaKikouta and al, 2020; Maâlej, 2013; Tounès, 2006...). Thus, under the hypothesis that the 3 factors cited above, influence the entrepreneurial intent of students (Ajzen, 1991), we built 24 items describing the different characteristics of entrepreneurial intent, 9 of which explain the 7 Mariko and Gaba: Theme: Explanatory factors of the entrepreneurial intention of unPublished by Pepperdine Digital Commons, 2022 Davidsson, P. (1995). 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