Indonesian Financial Review
Vol. 5 No. 1 (2025)

Modeling Entrepreneurial Intentions among University Students: A Behavioral Finance Perspective Using PLS-SEM

Prijanto, Whinarko Juli (Unknown)
Sugiharti, Retno (Unknown)
Septiani, Yustirania (Unknown)



Article Info

Publish Date
10 Aug 2025

Abstract

This study investigates the factors influencing entrepreneurial interest among university students, focusing on the roles of self-esteem, entrepreneurial knowledge, and self-efficacy. Using a structural modeling approach, entrepreneurial interest is analyzed as the dependent variable influenced by these psychological and cognitive constructs. A key aim of the study is to examine the mediating role of entrepreneurial knowledge between self-efficacy and entrepreneurial interest. The results reveal that both self-esteem and entrepreneurial knowledge have direct and significant effects on entrepreneurial interest. Notably, self-efficacy does not influence entrepreneurial interest directly but exerts its effect indirectly through entrepreneurial knowledge, indicating a full mediation. This finding challenges the assumption that self-belief alone is sufficient to foster entrepreneurial motivation and highlights the importance of knowledge acquisition as a cognitive pathway toward entrepreneurial engagement. The study offers practical implications for improving entrepreneurship education—particularly in developing strategies that integrate confidence-building with knowledge-focused learning.

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Journal Info

Abbrev

IFR

Publisher

Subject

Economics, Econometrics & Finance

Description

The intent of the Editors of The Indonesia Financial Review is to discuss, explore, and disseminate the latest issues and developments in Empirical Financial Economics (JEL classification: G), particularly those related to financial frictions in the Emerging Markets. The others are accepted such as ...