What Drives the Students' Entrepreneurial Intentions? Investigating the Role of Financial Socialization and Entrepreneurial Education

Abstract

Entrepreneurial intention still becomes an interesting topic to be observed, although it has been explored widely. This study examines the role of family and school on students' entrepreneurial intentions. The role of family was reflected in financial socialization, while entrepreneurship education represented the school's contribution to explaining entrepreneurial intention. Using 109 secondary students, this study analyzed the data using a quantitative approach using the Partial Least Squares - Structural Equation Model (PLS-SEM). This approach was applied to answer the direct and indirect effects of confirming entrepreneurial intention. The results proved that financial socialization has a significant impact on financial knowledge. At the same time, entrepreneurial intention was determined by financial knowledge, financial socialization, and entrepreneurship education. Financial knowledge has a mediating role in explaining the impact of financial socialization on entrepreneurial intention.