Browse > Article

An Empirical Study on the Effects of Seniors' Growth·Fixed Mindset and Entrepreneurial Ability on Entrepreneurial Intentions: Focusing on the Mediating Effects of Entrepreneurship Efficasy  

Jae Yul, Lee (Graduate School of Ventures, Hoseo University, Department of Venture)
Tae Kwan, Ha (Graduate School of Ventures, Hoseo University, Department of Venture Mnangement)
Publication Information
Asia-Pacific Journal of Business Venturing and Entrepreneurship / v.17, no.6, 2022 , pp. 89-104 More about this Journal
Abstract
Entrepreneurship by seniors who have accumulated skills and expertise in the industrial field is very important from a social point of view. This study aimed at seniors to find out the major start-up capabilities of seniors in an economic situation where instability factors and uncertainties are amplified due to the social structure of jobs that has changed due to COVID-19 during the 4th industrial revolution and the rapidly progressing high interest rates and global supply chain problems. The purpose of this study was to empirically verify how variables affect entrepreneurial intention. In addition, from the perspective of mindset, which is the individual psychological characteristic of pre-entrepreneurs, we tried to empirically verify whether growth mindset and fixed mindset have a significant effect on senior entrepreneurship intention. The psychological characteristics of founders were approached from the perspective of mindset, and an attempt was made to apply them to the field of entrepreneurship and to obtain practical implications. This study empirically analyzed the effects of growth mindset, fixed mindset, technical competency, network competency, and funding competency, which are components of mindset, on senior entrepreneurial intention, and verified the mediating effect of entrepreneurial efficacy. As a result of the empirical analysis, it was verified that growth mindset and technological competency had a positive (+) effect on entrepreneurial intention. In addition, it was verified that the mediating effect of entrepreneurial efficacy was significant in the influence of growth mindset and technological competency on entrepreneurial intention, and it was verified that growth mindset and technological competency are important variables in senior entrepreneurship. The study results provide the following policy implications. In order to activate senior entrepreneurship, first, to maximize the effect of founder education, programs such as customized entrepreneurship education that match the growth mindset characteristics, which are the psychological characteristics of founders, are needed. Second, it is required to expand the base of technology startups by expanding government support, such as expanding low-interest policy financing, for senior startups with technological capabilities and expertise. Third, it is necessary to provide institutional support for starting a business, such as providing a start-up program even before retirement, so that the expertise and technology accumulated by seniors can be linked to start-ups even after retirement.
Keywords
Mindset; entrepreneurial competency; entrepreneurship efficacy; entrepreneurial intention;
Citations & Related Records
Times Cited By KSCI : 2  (Citation Analysis)
연도 인용수 순위
1 Krueger, N. F., Reilly, M. D., & Carsrud, A. L.(2000). Competing models of entrepreneurial intentions. Journal of business venturing, 15(5-6), 411-432.   DOI
2 Lee, H. Y.(2018). A Study on the Startup Competency Model by Growth Stage for Increasing the Success Rate of Technology Startups. Doctoral dissertation, Chungang University Graduate School.
3 Lee, G. M.(2018). Influence of Entrepreneur Characteristics and Startup Preparedness on Business Continuity: Focusing on the Mediating Effect of Entrepreneurial Will. Doctoral dissertation, The Graduate School Pusan National University.
4 Lee, J. L.(2016). An Analysis of Structural Relationship among Locus of Control, Mindset, Grit, and Academic Achievement. Doctoral dissertation, The Graduate School of Andong National University.
5 Lee, J. R.(2022). The Effect of Senior's Personal Characteristics on Entrepreneurial Intention: Including Mediating Effect of Entrepreneurial Desires and the Moderating Effect of Entrepreneurial Education. Doctoral dissertation, The Graduate School of Venture Hoseo University.
6 Lee, J. R., & Heo, C. M.(2020). The Effect of Baby Boomer's Self-Efficacy, Social Capital, and Economic Preparation on Entrepreneurial Intention. Journal of digital convergence, 18(10), 41-50.
7 Lee, J. W., Hong, I. H., & Kong, S. B.(2022). A Study on the Mediated Effect of Self Efficacy on the Relationship between Wrestling Players' Mindset and Exercise Flow. Journal of coaching development, 24(3), 3-11.
8 Lee, M. H.(2013). Technology Startup and Creative Economy. Science and Technology Policy, 23(2), 4-8.
9 Lee, S. B.(2014). A Study on the Effect of Characteristics of CEO and Competency in Venture Companies on the Organizational effectiveness: Including the Mediating Effect of CorporateStrategy. Doctoral dissertation, The Graduate School of Venture Hoseo University.
10 Lee, S. H.(2015). A study on the effect of business achievement of the start-ups by entrepreneurs and information technology characteristics: focused on electronic cultural atlas. Doctoral dissertation, The Graduate School of Konkuk University.
11 Lim, A. R.(2015). The Effect of Youth Enterpreneurs' Competence on Entrepreneurial Behavior and Entrepreneurial Performance. Doctoral dissertation, The Graduate School of Chosun University.
12 Mann, K., van der Vleuten, C., Eva, K., Armson, H., Chesluk, B., Doman, T., Holmbeo, E., Lockyer, J., & Sargeant, J.(2011). Tensions in informed self-assessment: how the desire for feedback and reticence to collect and use it can conflict. Acad Med, 86(9), 1120-1127.   DOI
13 Markey, M.(2016). Celebrate the Baby Boomers. Economic Development Journal, 15(3), 40-44.
14 McDougall, P. P., Oviatt, B. M., & Shrader, R. C.(2003). A comparison of international and domestic new ventures. Journal of international Entrepreneurship, 1(1), 59-82.   DOI
15 McGee, J. E., Peterson, M., Mueller, S. L., & Sequeira, J. M.(2009). Enterpreneurial Self-Efficacy: Refining the Measure. Entrepreneurship Theory and Practice, 33(4), 965-988.   DOI
16 Moon, S. S.(2018). Impacts of entrepreneurship and social capital on seniors' entrepreneurial intention. Doctoral dissertation, Hoseo University.
17 Nieto, M., & Gonzalez, A. N.(2016). Social capital effects on the discovery and exploitation of enrtrepreneurial opportunities. International Entrepreneurship and Management Journal, 12(2), 507-530.   DOI
18 Park, J. B., Yang, Y. S., & Kim, M. S.(2020). The effect of active senior's career orientation and educational entrepreneurship satisfaction on entrepreneurship intention and entrepreneurship preparation behavior. Asia-Pacific Journal of Business Venturing and Entrepreneurship, 15(1), 285-301.   DOI
19 Park, S. H.(2017). A Study on the Effects of SME Start-up Environment, Entrepreneurial Self-Efficacy and Fear of Business Failure on Entrepreneurial Intention: Focusing on the Moderated Effects of Government's Entrepreneurial Supporting Policy and Mediated Effects Entrepreneurship. Doctoral dissertation, The Graduate School of Venture Hoseo University.
20 Park, J. S.(2017). The Effects of Attributional Feedback on Academic Achievement according to Mindset, Grit and Self-Control. Master's thesis, Seoul National University.
21 Piperopoulos, P., & Dimov, D.(2015). Burst Bubbles of Build Steam? Entrepreneurship Education, Entrepreneurial Self-Efficacy, and Entrepreneurial Intentions. Journal of Small Buciness Management, 53(4), 970-985.
22 Seo, S. Y.(2019). Influence of Youth's Entrepreneurial Competence on Entrepreneurial Intention and Entrepreneurial Behavior: The Mediating Effect of Entrepreneurial Intention and The Moderating Effect of Entrepreneurial Education. Doctoral dissertation, Chosun University.
23 Shakir, M.(2019). Personal characteristics as determinants of entrepreneurial self-efficacy among university students in Pakistan. Journal of Education and Educational Development, 6(2), 344-356.
24 Urban, B.(2015). Evaluation of social enterprise outcomes and self-efficacy. International Journal of Social Economics, 42(2), 163-178.   DOI
25 Shin, H. S.(2021). Effects of Active Senior's Entrepreneurial Competencies on Entrepreneurial Efficacy, Entrepreneurship, and Entrepreneurial Intention. Doctoral dissertation, Sejong University.
26 Spencer, S.(1993). Competency assessment methods: History and state of art. Hay-McBer Research Press.
27 Sung, C. S., Cho, S. H., & Byun, C. G.(2013). An Exploratory Study on Senior Entrepreneurial Start-up Needs. Productivity Review, 27(1), 287-312.   DOI
28 Yang, J. H., & Kim, C. K.(2018). The Effects of Perceived Relational Support, Entrepreneurship and Self-Efficacy of Youth on Entrepreneurial Intention: Focusing on the Moderating Effects of Entrepreneurship Education. Journal of the Korean Entrepreneurship Society, 13(6), 74-97.   DOI
29 Yang, K. A.(2020). A Study on the Factors Affecing Entrepreneurial Intention of Middle-aged and Older Adults: Focused on the mediating effect of business-opportunity search. Doctoral dissertation, The Graduate School of Venture Hoseo University.
30 Yoon, B. S.(2004). Determinants of Entrepreneurial Intentions: Individual Characteristics and Environmental Factors. Korean Business Review, 17(2), 89-110.
31 Yun, S. I., & Jeon, B. H.(2021). A Study on the Influence of Senior Entrepreneurship on Entrepreneurial Intention: Focused on the Moderating Effect of Self-Efficacy and Fear of Failure. Korean Business Education Review, 36(2), 177-202.   DOI
32 Zhao, H., Seibert, S. E., & Hills, G. E.(2005). The mediating role of self-efficacy in the development of entrepreneurial intentions. Journal of Applied Psychology, 90(6), 1265-1272. 
33 Bae, C. B., & Kim, J. H.(2020). The Effect of Pre-Business Leaders' Mindset on Grit, Self-Efficacy, and the Entrepreneurship Intention. Journal of Distribution and Management Research, 23(6), 137-151.
34 Bak, B. G., & Song, J. H.(2008). Exploration of the Causal Structure among Change Belief, Goal Orientation, Self-Regulated Learning, Achievement, and Subjective Well-Being: An Enlargement of Dweck Model. Korean Journal of Educational Psychology, 22(2), 333-350.
35 Bandura, A.(1977). Self-efficacy: Toward a unifying theory of behavioral change. Psychological Review, 84(2), 191.
36 Barney, J.(1991). Firm resources and sustained competitive advantage. Journal of management, 17(1), 99-120.   DOI
37 Birley, S.(1985). The role of networks in the entrepreneurial process. Journal of business venturing, 1(1), 107-117.   DOI
38 Blackwell, l. S., Trzesniewski, K. H., & Dweck, C. S.(2007). Implicit Theories of Intelligence Predict Achievement Across an Adolescent Transition: A Longitudinal Study and an Intervention. Child Development, 78(1), 246-263.   DOI
39 Burgelman, R. A., Christensen, C. M., & Wheelwright, S. C.(2004). Strategic management of technology and innovation. Irwin: McGraw-Hill.
40 Boyd. N. G., & Vozikis, G. S.(1994). The influence of self-efficacy on the development of entrepreneurial intentions and actions. Entrepreneurship Theory and Practice, 18(4), 63-67.   DOI
41 Chen, G., Gully, S. M., & Eden, D.(2004). General self-efficacy and self-esteem: Toward theoretical and empirical distinction between correlated self-evaluatins. Journal of Organizational Behavior, 25(3), 375-395.   DOI
42 Chen, C. C., Greene, P. G., & Grick, A.(1998). Does Entrepreneurial Self-efficacy Distinguish Entrepreneurs frrm Managers?. Journal of Business Venturing, 13(4), 295-316.   DOI
43 Choi, J. Y.(2022). Effect of Mindset on Innovation Behavior through Job Crafting: Focusing on the moderating effect of informal learning. Master's thesis, Chung-Ang University.
44 Choi, Y. A., & Dongm, H. L.(2019). The Impact of Personal and Social Preparation on the Intention of Entrepreneurship: Focusing on the Moderating Effect of Age. Korean Corporation Management Review, 26(3), 91-100.   DOI
45 Coleman, J. S.(1988). Social capital in the creation of human capital. American Journal of Sociology, 94, 94-121.   DOI
46 Duckworth, A. L., & Seligman, M. E. P.(2005). Self-discipline outdoes IQ in predicting academic performance in adolescents. Psychological Science, 16(12), 939-944.   DOI
47 Dweck, C. S.(1986). Motivational Processes Affecting Learning. American Psychologist, 41(10), 1040-1048.   DOI
48 Dweck, C. S.(2009). Mindsets: Developing Talent Through a Growth Mindset. Olympic Coach, 21(1), 4-7.
49 Dweck, C. S.(2006). Mindset: The New Psychology of Success. New York: Random House.
50 Dweck, C. S., Chiu, C., & Hong, Y.(1995). Implicit theories and their role in judgments and reactions: A world from two perspectives. Psychological Inquiry, 6(4), 267-285.   DOI
51 Dweck, C. S., & Leggett, E. L.(1988). A social-cognitive approch to motivation and personality. Psychological Review, 95(2), 256-273.
52 Elnadi, M., & Gheith, M. H.(2021). Entrepreneurial ecosystem, entrepreneurial self-efficacy, and entrepreneurial intention in higher education: Evidence from Saudi Arabia. The International Journal of Management Education, 19(1), 100458.
53 Garbutt, J., Antes, A., Mozersky, J., Pearson, J., Grailer, J., Toker, E., & DuBois, J.(2019). Validating curricular competencies in innovation and entrepreneurship for biomedical research trainees: A modified delphi approach. Journal of Clinical and Translational Science, 3(4), 165-183.   DOI
54 Gist, M. E., & Mitchell, T. R.(1992). Self-efficacy: A theoretical analysis of its determinants and malleability. Academy of Management review, 17(2), 183-211.   DOI
55 Hahn, M. K.(2022). Research on factors that influence potential entrepreneurs' intentions of business creation: Focusing on the mediating effect of business. Doctoral dissertation, The Graduate School of Venture Hoseo University.
56 Han, M. S.(2020). The Impact of Middle-aged Entrepreneurs' Entrepreneurial Ability and Social capital on the Start-Up Intention: The Mediation Effect of Positive Psychology and the Moderate Effect of Start-Up Support Service. Doctoral dissertation, Kyungnam National University Graduate School.
57 Hardin, A., Looney, C., Fuller, M., & Schechtman, G.(2013). Participative Goal Setting in Self-Directed Global Virtual Teams: The Role of Virtual Team Efficacy in Goal Setting Effectiveness and Performance. Hawaii International Conference on System Sciences, 46, 363-372.
58 Hong, S. C.(2021). Structural relationship of GRIT, job autonomy, and resilience with job crafting in the millennial generation: Focused on a hotel workplace. Doctoral dissertation, Dongguk University Graduate School.
59 Hayes, A. F.(2022). Introduction to mediation, moderation and conditional process analysis(3rd Ed.). New York: The Guilford Process.
60 Hitt, M. A., Ireland, R. D., Camp, S. M., & Sexton, D. L.(2002). Strategic entrepreneurship: Integrating entrepreneurial and strategic management perspectives, Blackwell Strategic Management Society-Strategic Entrepreneurship, 1, 1-16.
61 Hong, E. P., & Kim, J. H.(2018). A Study on Factors Affecting the Promotion of Social Entrepreneurship Start-ups. Journal of Industrial Econonics and Business, 31(1), 23-42.   DOI
62 Hwang, J. Y., & Nam, J. M.(2019). A Study on the Effects of the Opportunity Level of Senior Entrepreneurs on Business Performance in Korea, Japan and Singapore: Moderating Effect of the Government Entrepreneurship Support Program. Journal of the Korean Entrepreneurship Society, 14(6), 271-294.
63 Jang, Y. M.(2019). The Effects of Senior's Internal and External Factors on Entrepreneurial Intention: Focused on the Moderating Effect of Social Support. Doctoral dissertation, The Graduate School of Venture Hoseo University.
64 Jang, Y. M., & Ha, K. S.(2018). A Study on the Effect of Senior's Entrepreneurial Competency on Entrepreneurial Intention: Focused on the Moderating Effect of Social Support. Asia-Pacific Journal of Business Venturing and Entrepreneurship, 13(3), 13-36.
65 Jung, C. Y.(2021). The Effect of Entrepreneurship Education for University Students and Seniors on Entrepreneurial Intention: Integrating the Theory of Planned Behavior and Self-determination Theory. Doctoral dissertation, The Graduate School of Venture Hoseo University.
66 Kang, B. S.(2020). Impacts of Senior's Entrepreneur Competency and Startup Support on Entrepreneurship Efficacy, Opportunity Awareness, and Startup Intention. Doctoral dissertation, Sejong University Graduate School.
67 Jung, D. S.(2016). An Emperical Study on Factors Affecting Start-up Intention: Focused on Individual Characteristics and Career Orientation. Journal of Industrial Economics and Business, 29(4), 1565-1586.
68 Jung, H. R.(2022). An Empirical Study on the Influence of Entrepreneurial Ecosystem Perception and Entrepreneurship on Entrepreneurial Intention of Employees: Focusing on the Mediating Effect of Entrepreneurial Opportunity Competency. Doctoral dissertation, The Graduate School of Venture Hoseo University.
69 Jung, J. S.(2021). Impact of Salaried employee's Entrepreneurial Competency, Entrepreneurship and Career Avoidance on the Push and Pull Entrepreneurial Intentions. Doctoral dissertation, The Graduate School of Venture Hoseo University.
70 Kang, S. I.(2007). Relationships of Owner-manager's Entrepreneurship and Performance in the Small and Medium Tourism Enterprises. Doctoral dissertation, Cheju National University Graduate School.
71 Kim, C. K.(2015). Analysis of Factors Influencing the Early Performance of Technology-Based Start-ups. Doctoral dissertation, The Graduate School of Korea Polytechnic University.
72 Kim, E. S.(2012). The effect of social network on individual and team creativity: multi-level approach. Doctoral dissertation, Kyungpook National University Graduate School.
73 Kim, H. M.(2022). The Mediating Effect of Grit in the Relationship between Growth Mindset and Career Preparation behavior of University Students. Master's thesis, Woosuk University Graduate School.
74 Kim, S. C.(2022). A Study on Factors Affecting Senior Entrepreneurship Intention: Systematic review, meta-analysis, and empirical analysis. Doctoral dissertation, Dongguk University Graduate School.
75 Kim, H. R.(2008). An Empirical Study on the Effects of Personality and Self Leadership of Potential Founders in the Micro Business Area on Founder Self-efficacy: Applying the Big Five Factors Model and the Self-Leadership Theory. Korea Journal of Business Administration, 21(2), 2393-2420.
76 Kim, J. S., Song, J. H., Oh, J. K., & Yoon, S. C.(2017). Modern financial management. Seoul: Daegyeong Publising Co.
77 Kim, K. S.(2005). A Study on the effects of venture entrepreneurs' competence in their business performance. Master's thesis, The Graduate School of Konkuk University.
78 Kim, S. S.(2010). A Comparative Study of the Entrepreneurial Intention between Korea and Chinas. Doctoral dissertation, Hoseo University Graduate School.
79 Kim, Y. T.(2022). The Effect of Senior Entrepreneuial Support Program and Entrepreneuial Competence on Entrepreneuial Intention: Focused on the Moderating Effect of Mentoring. Doctoral dissertation, The Graduate School of Venture Hoseo University.
80 Kim, Y. T., & Heo, C. M.(2021). The Influence of Senior Entrepreneurship Competency and Start-up Support Policy on Entrepreneurship Intention: Focusing on the Moderating Effect of Mentoring. Asia-Pacific Journal of Business Venturing and Entrepreneurship, 16(2), 109-121.
81 Korea Economic Research Institute(2021). comparison of aging status and countermeasures in major countries. Retrieved(2021.03.05.) from http://www.keri.org
82 Krueger Jr, N. F., & Brazeal, D. V.(1994). Entrepreneurial potential and potential entrepreneurs. Entrepreneurship Theory and Practice, 18(3), 91-104.   DOI