Family economic education, peer groups and students’ entrepreneurial intention: the mediating role of economic literacy

Abstract

Stimulating potential entrepreneurs is a global challenge and policymakers need to understand factors affecting students' entrepreneurial intention. The growing body of literature has focused on the impact of entrepreneurship education and entrepreneurial intention, while this study aims to explore other predicted factors affecting students' entrepreneurial intention, such as family economic education, peer groups, and economic literacy. This study adopted a quantitative method using a survey approach to obtain comprehensive findings. The research involved online questionnaires to approximately 1000 students undergoing convenience sampling in a university in Indonesia as participants. The results indicated that both family economic education and peer groups positively correlate with economic literacy and students' entrepreneurial intention. These results confirmed a crucial role of economic literacy that government and educational institutions can consider to stimulate students' entrepreneurial intention. This study also contributes to the educational sector and governments to facilitate the creation of student-working groups in entrepreneurship as an attempt to encourage students' engagement.

What Factors Affect the Entrepreneurial Intention to Start-Ups? The Role of Entrepreneurial Skills, Propensity to Take Risks, and Innovativeness in Open Business Models

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Promoting entrepreneurship based on university students' perceptions of entrepreneurial attitude, university environment, entrepreneurial culture and entrepreneurial training

“…Education, from high school through college, represents a determining factor in encouraging entrepreneurial attitudes; other potential factors include family background, peer groups and economic literacy (Jena, 2020;Karyaningsih et al, 2020;Suratno et al, 2021). Some studies have shown that there is a positive effect of entrepreneurial education on entrepreneurial attitude, and this increases students' entrepreneurial intentions (Saptono et al, 2019).…”

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