Research on the Relationship between Entrepreneurial Self-Efficacy and Entrepreneurial Intention

Abstract

Entrepreneurship is a key concept to understand the rapid development of China’s economy since the reform and opening-up. It is related to the revitalization of the Chinese nation. Formulating effective entrepreneurial policies and measures, carrying out entrepreneurship education, and promoting entrepreneurial actions are important issues that government agencies, educational institutions, and the society at all levels are paying attention to. The key lies in the insight into the psychological cognitive mechanism and motivation source of entrepreneurs in starting a business. Upon reviewing previous studies, this article believes that entrepreneurial self-efficacy and entrepreneurial intentions are the key concepts and entry points connecting entrepreneurial characteristics, entrepreneurial behavior, and cognitive research. This study explores the relationship between entrepreneurial self-efficacy and entrepreneurial intention from five dimensions: entrepreneurial planning efficacy, entrepreneurial resource acquisition, relationship coordination efficacy, risk-taking efficacy, as well as innovation and reform efficacy. Suggestions and strategies have been proposed in this article to integrate the entrepreneurial ecology of universities, society and the government, reform the entrepreneurial education model, as well as improve the entrepreneurial willingness of college students.