Convergence in the priorities of entrepreneurial values: Empirical evidence from Malaysia

Abstract

This study aims to contribute to the field of international entrepreneurship by investigating entrepreneurial values priorities of Malaysian entrepreneurs compared to Western entrepreneurs and whether the magnitude of each entrepreneurial value is the J Int Entrep Summary highlights 1. Contributions: This study adopts and adapts Values Theory to study entrepreneurial motivations, which is an important aspect of the entrepreneurial process but under-researched. In addition, samples drawn from a collectivistic society extends the empirical scope of entrepreneurial value priorities. Research questions/purposes:The first purpose of this study is to identify ranking of entrepreneurial values by Malaysian entrepreneurs vis-a-vis Western entrepreneurs. The second purpose is to test the differences in the magnitude of entrepreneurial values across ethnicity and gender within Malaysia. 3. Results/findings: This study found convergence in entrepreneurial value priorities between Malaysian and Western entrepreneurs. In addition, the magnitudes of entrepreneurial values differ across ethnicity but not gender within Malaysia. Limitations:Due to the still-limited empirical evidence from around the world, these findings should be considered suggestive rather than conclusive. Therefore, it is proposed that further scholarly inquiry is needed, preferably using the same instrument in more countries located in different continents in order to empirically confirm the value priorities of entrepreneurs. Theoretical implications and recommendations:The theoretical implications are firstly, that the definition of international entrepreneurship may be expanded to reflect entrepreneurs' primary motivation of self-direction. Secondly, knowing the similarities in values priorities and differences in magnitude of certain values increases the cultural intelligence of international entrepreneurs when dealing with their peers from other countries. Practical implications and recommendations:The practical implications are that academicians and trainers should avoid gender stereotyping and foster salient entrepreneurial values when designing academic curriculum and training programs. The policy implications are that policy makers should attract or target those who possessed these salient entrepreneurial values when constructing entrepreneurship policies.

Contextual Motivations for Undergraduates’ Entrepreneurial Intentions in Emerging Asian Economies

“…The first school of thought suggests universality of entrepreneurial values. For example, Holt (1997) and Looi and Kamarulzaman (2015) found that the fundamental entrepreneurial values transcend national borders. Bruton et al (2008) noted that many entrepreneurship studies assume that entrepreneurs think and act similarly irrespective of cultural and institutional contexts of different countries.…”

“…However, there is competing theory or alternative explanation (Cuervo-Cazurra et al, 2016; Terjesen et al, 2016; Zahra, 2007) of entrepreneurial intention. Prior studies found that the following demographic variables influenced entrepreneurial intention: (a) gender (Arenius & Minniti, 2005; Crant, 1996; Katz, 1992; Looi & Khoo-Lattimore, 2015; Matthews & Moser, 1996; Naffziger et al, 1994; Shook et al, 2003; Terjesen et al, 2016; Wennekers, Uhlaner, & Thurik, 2002; Wilson, Kickul, & Marlino, 2007); (b) family business background (Arenius & Minniti, 2005; Audretsch et al, 2002; Crant, 1996; Dubard-Barbosa, 2014; Katz, 1992; Kolvereid, 1996; Looi & Khoo-Lattimore, 2015; Matthews & Moser, 1996; Naffziger et al, 1994; Terjesen et al, 2016); and (c) education (Shook et al, 2003) or entrepreneurship education (Bae et al, 2014). These three variables are labelled as demographic control variables hereinafter.…”

“…Prior research has identified a set of common and core entrepreneurial values that drive entrepreneurial behaviour across national cultures or boundaries (Holt, 1997; Looi & Kamarulzaman, 2015; McGrath & MacMillan, 1992). Specifically, individualistic values are consistently associated with entrepreneurship and new venture creation (Hechavarria & Reynolds, 2009; Holt, 1997; Jaén, Moriano, & Liñán, 2013; Licht, 2010; Looi & Kamarulzaman, 2015; McGrath & MacMillan, 1992; McGrath, MacMillan, & Scheinberg, 1992; Mitchell, Smith, Seawright, & Morse, 2000; Noseleit, 2010; Schwartz, 2015; Thomas & Mueller, 2000; Tiessen, 1997). Values theory classifies values into personal focus (i.e., individualistic values, such as self-direction, stimulation, hedonism, achievement and power) and social focus (i.e., collectivistic values) (Cieciuch et al, 2015; Schwartz, 2015).…”

Achieving Learning Outcomes of Emergency Remote Learning to Sustain Higher Education during Crises: An Empirical Study of Malaysian Undergraduates

“…For instance, one unexpected positive life event arising from this pandemic is that learners may become better at self-regulation. This may cultivate their self-direction values, which is essential for entrepreneurship and intrapreneurship (i.e., entrepreneurial mindsets and behaviours) [46][47][48]. Moreover, the challenging experiences (i.e., adversity) of ERL may facilitate learners' positive adaptation of resilience for future challenges [49].…”

Openness to change and conservation in value-laden decisions

“…Openness to change may also entail lower propensity towards making decisions that support environmental sustainability, given a reduced focus on others (Grebitus, Steiner, & Veeman, 2013). These examples do not suggest that openness to change consistently leads to negative organisational behaviour, as entrepreneurs are often motivated by the self-direction component of openness to change (Looi & Kamarulzaman, 2015).…”