湖南大学学报（自然科学版） 第 51 卷 第 6 期

Journal of Hunan University (Natural Sciences） 2024 年6月

Vol. 51 No. 6
Available online at http://jonuns.com/index.php/journal/index
June 2024

Open Access Article https://doi.org/10.55463/issn.1674-2974.51.6.7

Youth Entrepreneurial Intentions and the Mediating Effect of Motivation: Evidence

from Ho Chi Minh City, Vietnam
Truong Dinh Thai, Bui Duc Sinh*
Facuty of Business Administration, Ho Chi Minh University of Banking, 36 Ton That Dam Street, District 1, Ho Chi Minh
City, Vietnam
* Corresponding author: sinhbd@hub.еdu.vn

Received: March 11, 2024 / Revised: April 6, 2024 / Accepted: May 3, 2024 / Published: June 28, 2024

Abstract: This research examines the factors affecting the entrepreneurial aspirations of young people in
Ho Chi Minh City, with the goal of determining the extent to which these elements impact the formation of
entrepreneurial intentions and proposing practical strategies to foster future entrepreneurship. Based on a
comprehensive literature review, this article proposes a research model that incorporates factors such as ability,
subjective norms, attitude, opportunity, perceived behavioral control, entrepreneurial motivation, and
entrepreneurial intention, with entrepreneurial motivation acting as an intermediary. The study utilized the SPSS
25.0 and AMOS 25.0 software to test the research hypotheses using structural equation modeling. Data were
collected from 326 participants through the face-to-face survey method. The analysis of the structural equation
model indicates that factors such as ability, subjective norms, opportunity, attitude, and perceived behavioral control
indirectly influence entrepreneurial intentions through entrepreneurial motivation. Additionally, ability and
opportunity have a direct impact on the entrepreneurial intentions of the youth. The intermediary role of
entrepreneurial motivation is a novel aspect in the context of this research. To encourage youth to engage more
actively in entrepreneurial activities, it is essential to foster their entrepreneurial motivation, which is linked to
structured entrepreneurship education and training programs at various educational levels, thus instilling
entrepreneurial spirit from early schooling. These findings provide a robust foundation for developing policy
recommendations and effective support mechanisms to promote and enhance entrepreneurial intentions among the
youth of Ho Chi Minh City.
Keywords: entrepreneurship, entrepreneurial motivation, entrepreneurial intention, youth, Ho Chi Minh
City.

青年创业意向与动机的中介作用：来自越南胡志明市的证据

摘要：本研究考察了影响胡志明市年轻人创业意愿的因素，目的是确定这些因素对创业
意向形成的影响程度，并提出培养未来创业精神的实用策略。本文在全面文献综述的基础上
，提出了一个研究模型，该模型结合了能力、主观规范、态度、机会、感知行为控制、创业
动机和创业意向等因素，创业动机起着中介作用。本研究利用统计软件25.0和阿莫斯25.0软
件，使用结构方程模型检验研究假设。通过面对面调查方法收集了326名参与者的数据。结
构方程模型的分析表明，能力、主观规范、机会、态度和感知行为控制等因素通过创业动机
间接影响创业意向。此外，能力和机会对青年的创业意向有直接影响。创业动机的中介作用

© 2024 by the authors. This article is an open access article distributed under the terms and conditions of the Creative Commons
Attribution (CC-BY) license (http://creativecommons.org/licenses/by/4.0/).
 Thai & Sinh. Youth Entrepreneurial Intentions and the Mediating Effect of Motivation: Evidence from Ho Chi Minh City, Vietnam, Vol. 51
No. 6 June 2024
64
是本研究的一个新方面。为了鼓励青年更积极地参与创业活动，必须培养他们的创业动机，
这与各教育阶段的结构化创业教育和培训计划相联系，从而从早期教育开始灌输创业精神。
这些研究结果为制定政策建议和有效的支持机制以促进和提高胡志明市青年的创业意愿提供
了坚实的基础。
关键词：创业精神、创业动机、创业意向、青年、胡志明市。

1. Introduction some individuals choose to become entrepreneurs

Presently, entrepreneurship is recognized while others do not is essential [11].
progressively as a trend and foundation for long-term Recognizing the significance of entrepreneurship,
economic development. A dynamic business Vietnam has developed and implemented policies to
environment requires continuous engagement by support institutional frameworks that encourage
emerging entrepreneurial ventures. This topic has entrepreneurial activities. However, entrepreneurship is
captured the attention of both researchers and a challenging endeavor that requires the convergence
policymakers because of its critical role in job creation of multiple factors. External support is necessary, but
and significant contributions to economic growth, entrepreneurs must possess the requisite knowledge,
productivity enhancement [1], societal stability [2], and motivation, and attitudes to embark on entrepreneurial
national prosperity [3]. These aspects have spurred ventures. Consequently, fostering entrepreneurial spirit
academic researchers to intensify their exploration of among Vietnamese youth requires attention at multiple
entrepreneurship, particularly its contributions and levels. In reality, the interest of the youth in
significance [4]. entrepreneurship remains limited, as evidenced by fears
In the current general context, the population is of failure, lack of confidence, and a tendency to avoid
increasing, but job opportunities are not growing at a new challenges. Therefore, they often settle for a
similar rate. This has led to rising unemployment, secure job with a suitable salary instead of pursuing
especially among the youth, which has affected entrepreneurial opportunities. This raises the question
economic development and social stability. Successful of which factors influence the entrepreneurial
entrepreneurial activities by young people will be a intentions of the youth in Ho Chi Minh City. Empirical
driving force for a robust business community in the research is necessary to provide tangible outcomes that
future, contributing to economic growth and creating can be utilized by stakeholders to devise practical
more jobs, thereby reducing unemployment. From this initiatives targeted at fostering greater youth
perspective, studying the factors that influence involvement in this matter.
entrepreneurial intentions among the youth is necessary
and significant. 2. Theoretical Overview
Despite the considerable attention that
entrepreneurial intentions have received as a research 2.1. Entrepreneurship
field, there is a notable dearth of literature on the Research pertaining to entrepreneurship typically
subject in developing countries. In these regions, aims to identify the factors that influence entrepreneurs
numerous practical business issues remain unaddressed to embark on ventures, recognize opportunities, and
[5]. Lent et al. [6] suggested that research into career capitalize on them to ensure success. According to
choices should not only focus on individual cognitive Shane and Venkataraman [12], entrepreneurship is "the
variables but also consider environmental variables process of creating new ventures and organizations."
(e.g., social, cultural, and economic factors) that impact Through this process, entrepreneurs create value by
perceptions. Entrepreneurial intentions are relevant not mobilizing time, effort, and money and accepting risks
only in the pre-startup phase but also after the start of to receive intrinsic rewards. Timmons [13] defines
the business ventures. Some studies have explored the entrepreneurship as a process that generates
relationship between entrepreneurial intentions and innovations that have not previously existed. According
business efficacy, particularly in the context of small to Baumol [14], not all opportunity exploitations
and medium-sized enterprises [7]. Empirical research necessarily bring the best benefits to society. Therefore,
has demonstrated that entrepreneurial intentions play a entrepreneurship can be approached in various ways
crucial role in enhancing business development and and have either a positive or negative impact on
performance [8]. Moreover, entrepreneurial activities economic development.
have been shown to create jobs, generate wealth, and
promote innovation—all vital components of economic 2.2. Entrepreneurial Intentions
development [9], [10]. Therefore, understanding why Intentions are the best predictors of planned
 65

behavior [15]. Entrepreneurial intentions can be explaining business behaviors, many aspects remain
defined as an individual’s intent to start a business [16], unclear. Therefore, researchers argue for a deeper
which encompasses planning and implementing the examination of intention models and suggest
business setup plan [17]. Entrepreneurial intentions are integrating them with motivation theories [39], [40].
also characterized by attitudes toward the consequences According to this perspective, entrepreneurial
of significant decisions and inclinations concerning intentions can be facilitated by motivation, which may
belief, self-efficacy, and the capacity to capitalize on vary in its impact on attitudes, subjective norms, and
opportunities. According to Bird [18], both personal perceived behavioral control. Motivation is a crucial
characteristics and environmental factors can determine aspect to explore to explain why young people pursue
entrepreneurial intentions. Conversely, some scholars entrepreneurial careers [41]. Several motivation
studying entrepreneurship argue that "situational theories have been developed, and in this research
variables" such as inflation rates or business context, this study utilizes the ability-motivation-
regulations and "personal variables" such as individual opportunity (AMO) model proposed by Bailey [42].
traits have little basis for assessing the formation of Based on this theory, three factors influencing the
entrepreneurial intentions [19], [20], [21]. The entrepreneurial intentions of the youth are ability,
intention factor is complex and challenging to study motivation, and opportunity. Here, ability is understood
[19]. Entrepreneurial intentions mark the beginning of as knowledge, skills, competence, and proficiency of
a new entrepreneurial journey. Kautonen et al. [21] and individuals [43], [44]. Opportunity encompasses
Soomro et al. [22] identified intentions as key elements contextual or environmental factors beyond an
in measuring an individual’s interest in entrepreneurial individual’s direct control. Motivation can be
projects. characterized as a driving force that orients, energizes,
and sustains behavior, serving as an intermediate
2.3. Related Theoretical Foundations variable in theoretical models [45]. The following three
Initial entrepreneurship research has primarily elements, when combined in some manner, contribute
focused on the psychological or personality traits of to individuals’ successful operation [46].
entrepreneurs [23]. However, this approach lacks a
reliable basis to distinguish entrepreneurs from non- 2.4. Overview of Related Research
entrepreneurs [24], leading to a shift toward intent- Numerous studies have been conducted to assess the
based research [25]. Intent-based studies examine entrepreneurial motivations of individuals [15], [47],
human cognition, motivation, and intentions [26], with [48], [49]. A significant portion of this research
intentions becoming a central theme in underscores the importance of education in shaping
entrepreneurship research [2]. Numerous studies have students’ entrepreneurial intentions [50], [51], [52],
been conducted to understand what shapes [53]. Many research efforts have been made from a
entrepreneurial intentions [27]. conventional business perspective to investigate the
Ajzen’s theory of planned behavior (TPB) [28] entrepreneurial intentions of students [54], [55], [56].
posits that attitudes can predict intentions, which in Younis et al. [57] examined motivational factors related
turn lead to behavior. This model has become one of to students’ entrepreneurial intentions. Alferaih [9]
the most widely used psychological theories for confirmed that subjective norms, perceived feasibility,
explaining and predicting human behavior [29], [30], and innovativeness enhance students’ entrepreneurial
[31], [32]. The TPB provides a critical framework for intentions.
elucidating the relationship between attitudes, Previous research has shown that emotional
intentions, and planned behaviors. Consequently, the intelligence, empathy, prior experience, attitudes, social
TPB has become a primary theoretical model for support, creativity, moral obligation, subjective norms,
studying entrepreneurial intentions. Further studies self-efficacy, and perceived behavioral control are
have validated and refined the TPB model in fundamental predictors of entrepreneurial intentions
entrepreneurship research [33], [34], affirming that the [58]. The essential role that entrepreneurial intentions
formation of entrepreneurial behavior primarily play in initiating entrepreneurial efforts has been
depends on the formation of entrepreneurial intentions extensively studied [59]. Researchers have also used
[35]. An individual’s positive perception of the socio-psychological constructs to study entrepreneurial
outcomes of entrepreneurship [36], [37], [38] leads to intentions and identify related behavioral issues and
favorable attitudes toward such behavior, thereby determinants [41]. These models are effective in
strengthening their intentions to engage in business. explaining the interaction between personality
Based on the TPB theory, three factors—subjective variables and entrepreneurial intentions. Furthermore,
norms, attitude, and perceived behavioral control—are they are used to analyze anticipated and intentional
identified as critical in shaping entrepreneurial business actions [5].
intentions. Carsrud and Brannback [25] suggested that
Although previous studies on entrepreneurial entrepreneurial motivation has not been thoroughly
intentions have made valuable contributions to researched in the field of entrepreneurship studies.
 Thai & Sinh. Youth Entrepreneurial Intentions and the Mediating Effect of Motivation: Evidence from Ho Chi Minh City, Vietnam, Vol. 51
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66
Individuals with high entrepreneurial motivation are intentions.
more likely to become entrepreneurs [60]. Collins et al.
[61], synthesizing 41 studies, found that 3.2. Relationship between Subjective Norms,
entrepreneurial motivation has a positive relationship Entrepreneurial Motivation, and Entrepreneurial
with choosing a business career. Carsrud and Intentions
Brannback [25] argued that entrepreneurial motivation Subjective norms refer to the perception of an
is specific to each country. Hessels et al. [62], individual regarding the social pressure to engage in or
aggregating data from 36 countries, demonstrated that abstain from a particular behavior [19]. As per the
entrepreneurial motivation, a part of the broader findings by Liñán and Chen [80], subjective norms
entrepreneurial drive, varies across countries. In reflect the attitudes or opinions of an individual's
addition to seizing opportunities and developing significant others, such as family and friends, regarding
entrepreneurial intentions, one must also possess entrepreneurial activities and the perceived influence of
entrepreneurial motivation [63]. Motivation can arise the social community, which is the sense of social
externally or internally, and both factors stimulate pressure to perform or refrain from a specific behavior.
action [64], transforming intentions into behaviors Entrepreneurs are embedded in their social
[40]. An individual’s entrepreneurial intentions to start environments [81]. Individuals tend to adhere to the
and sustain a new business depend on their business norms accepted within their reference groups by
motivation [65]. Damron-Martinez et al. [66] identified consciously or unconsciously repeating behaviors [82],
the factors that influence students’ business intentions. [83], [84]. If a person perceives that their relatives,
Their research confirmed that attitudes, perceived friends, or neighbors have succeeded in business, they
behavioral control, and subjective norms are significant are likely to have higher motivation and intentions in
predictors of students’ business intentions. Therefore, pursuing business activities. On this basis, the
to foster successful entrepreneurship, there is a need to following hypotheses are proposed:
enhance entrepreneurship education and develop H2a: Subjective norms positively influence
strategies to perfect the entrepreneurial ecosystem. entrepreneurial motivation.
Identifying the factors that influence entrepreneurial H2b: Subjective norms positively influence
intentions is a necessary step for this study. Malebana entrepreneurial intentions.
[63] suggested that environmental and personal factors
influence motivation and entrepreneurial intentions. 3.3. Relationship between Opportunity,
Specific factors identified as influencing motivation Entrepreneurial Motivation, and Entrepreneurial
and entrepreneurial intentions include ability [67], [68], Intentions
attitudes [69], opportunities [70], [71], subjective Opportunity arises from business ideas with the aim
norms [72], [73], and perceived behavioral control of generating profit in the market. Additionally,
[74]. opportunities encompass ideas and beliefs that enable
businesses to create products and services not yet
3. Hypotheses and Research Model present in the market [85]. According to Krueger [15],
seizing opportunities serves as a guiding compass for
3.1. Relationship between Ability, Entrepreneurial cognitive processes and leads business activities.
Motivation, and Entrepreneurial Intentions Moreover, individuals' capacity to capitalize on
Capabilities involve possessing the knowledge and business prospects plays a significant role in
skills necessary to perform any task [75]. This factor heightening their eagerness and drive to initiate a new
also indicates that individuals with strong capabilities entrepreneurial endeavor [86]. According to Souitaris
and self-management skills often have a strong et al. [16], entrepreneurial motivation is positively
motivation to start new businesses. As noted by related to opportunities. Specifically, opportunities
McMullen and Shepherd [76], when entrepreneurs generate a motivating impact on individuals’ intention
embark on a new venture, they can seize new to become entrepreneurs. Based on this, the following
opportunities and face impending challenges. The hypotheses are proposed:
ability to recognize new opportunities is essential for H3a: Opportunity positively influences
successful entrepreneurship [77]. Liñán [78] entrepreneurial motivation.
emphasized that individual capabilities and skills H3b: Opportunity positively influences
significantly influence entrepreneurial goals. entrepreneurial intentions.
Entrepreneurship is a cognitive process where
capability plays a crucial role in completing this 3.4. Relationship between Attitude, Entrepreneurial
process [80]. For these reasons, the following Motivation, and Entrepreneurial Intentions
hypotheses are proposed: Attitudes have a profound impact on human
H1a: Abilities positively influence entrepreneurial behavior, and they are shaped by an individual's
motivation. inherent values. As stated by Ajzen [19], an individual's
H1b: Abilities positively influence entrepreneurial attitude toward entrepreneurial behavior signifies their
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positive or negative assessment, backing, or resistance Entrepreneurial motivation, which is rooted in personal
toward the intended conduct. Attitude is the second perceptions, is closely linked to entrepreneurial
most significant influencer of entrepreneurial intentions intentions, shaping work behavior, and ultimately
[15]. Various studies have indicated that attitude is a driving the entrepreneur's action intentions [92].
strong predictor of entrepreneurial intentions [21], [28], Moreover, according to Solesvik [74], attitudes,
[32]. Lent et al. [6] argued that, if an individual perceived behavioral control, and subjective norms also
believes that their business activities will yield positive bridge the relationship between motivation and
outcomes, this will make them more prepared to entrepreneurial intentions. Entrepreneurial motivation
become entrepreneurs. Dabic et al. [87] identified stimulates entrepreneurial activity and encourages
attitude as a crucial factor that influences individuals to display creative work behaviors.
entrepreneurial motivation. This forms the basis for the Entrepreneurial motivation positively affects
following hypotheses: entrepreneurial intentions. Based on this, the following
H_4a: Attitude positively influences entrepreneurial hypothesis is proposed:
motivation. H_6: Entrepreneurial motivation positively
H_4b: Attitude positively influences entrepreneurial influences entrepreneurial intentions.
intention. From these foundations, this study proposes the
theoretical research model presented in Fig. 1.
3.5. Relationship between Perceived Behavioral
Control, Entrepreneurial Motivation, and
Entrepreneurial Intention
Perceived behavioral control is defined as an
individual’s perception of the ease or difficulty of
performing a specific behavior [19]. Perceived
behavioral control plays a significant role in fostering
entrepreneurial motivation because it allows
individuals to perform tasks based on their capabilities
[88]. Research suggests a positive relationship between Fig. 1 Theoretical research model (Proposed by the authors)
perceived behavioral control and entrepreneurial
motivation. Krueger and Dickson [15] highlighted the The model includes the following components:
critical role of perceived behavioral control in ability (Abi), subjective norms (SN), attitude (Att),
enhancing the identification of new business opportunity (Opp), perceived behavioral control (PB),
opportunities. Moreover, Pihie and Bagheri [89] entrepreneurial motivation (EM), and entrepreneurial
demonstrated that perceived behavioral control also intention (EI).
motivates people to embark on entrepreneurship. By
recognizing their capacity for behavioral control, 4. Methodology
young individuals become highly motivated to engage
in entrepreneurial pursuits and develop entrepreneurial 4.1. Measurements
intentions. Therefore, perceived behavioral control Several scales have been modified to align with the
measures the degree of autonomy and self- context of this study. The ability scale (Abi, 6 items)
determination of an individual and significantly was derived from Linan [78]; subjective norms (SN, 4
impacts entrepreneurial motivation and intentions. items) and perceived behavioral control (PBC, 5 items)
Based on this foundation, the following hypotheses are were adapted from Hiatt et al. [94]; entrepreneurial
proposed: intention (EI, 4 items) and entrepreneurial motivation
H5a: Perceived behavioral control positively (EM, 4 items) were adapted from Solesvik [74];
influences entrepreneurial motivation. opportunity (Opp, 4 items) was adapted from Shook et
H5b: Perceived behavioral control positively al. [95]. The study incorporates 30 items.
influences entrepreneurial intentions.
4.2. Data Collection Procedure
3.6. Relationship between Entrepreneurial Data were collected through a survey questionnaire
Motivation and Entrepreneurial Intentions using a convenience sampling method. The
Entrepreneurial motivation serves as a strategic tool questionnaire was designed using a five-point Likert
to enhance entrepreneurial intentions. Business scale ranging from 1 to 5. The target demographic for
motivation maximizes an individual’s readiness to this study consisted of young individuals aged 18 to 29,
perform the necessary actions, illustrating the need to residing in Ho Chi Minh City, as defined by the OECD
develop entrepreneurial motivation to achieve Family Database [96]. The research team contacted
favorable outcomes [90], [91]. In entrepreneurship, five universities in the area, their respective alumni
individuals must achieve high levels of business associations, and various entrepreneurship and job
motivation to drive organizational work behavior. placement centers to distribute the survey to
 Thai & Sinh. Youth Entrepreneurial Intentions and the Mediating Effect of Motivation: Evidence from Ho Chi Minh City, Vietnam, Vol. 51
No. 6 June 2024
68
participants. The data collection process employed a
convenience sampling method and was conducted The oblique rotation method in EFA (exploratory
through face-to-face surveys. A total of 352 responses factor analysis) is recommended when research
were collected; after excluding samples that did not hypotheses are tested using structural equation
meet the requirements (over 5% missing data, lack of modeling (SEM). The results indicate that the factors
randomness in data variation), data from 326 samples achieved both convergent and discriminant validity,
were entered into SPSS 25.0 and AMOS 25.0 for with the observed variables Abi1, Abi6, Opp3, and PB1
analysis. being excluded from further analysis due to not
meeting the validation criteria. The findings from the
5. Results EFA indicated that the reliability test outcomes were
acceptable.
5.1. Descriptive Statistics
The sample characteristics are presented in Table 1. 5.3. Confirmatory Factor Analysis
The sample comprises 66.26% males and 33.74% Anderson and Gerbing’s [104] two-step approach
females. The age group with the highest proportion is was adopted. The first step involves assessing whether
18-22 years (50.61%), followed by the 23-26 years the measurement model reflects and distinguishes the
group (29.45%), and the lowest is the 27-29 years constructs through confirmatory factor analysis (CFA).
group (19.94%). In terms of educational background,
the largest group comprises individuals currently
studying at a university or vocational/technical school
(50.61%), while the smallest group comprises those
with a Master’s degree (2.45%). Participants whose
parents were involved in business activities accounted
for 32.21%, whereas those whose parents were not
involved in business made up 67.79%.

Table 1 Basic demographic profile of respondents (The authors)

Fig. 2 CFA results (Data analysis results by the authors)

CFA was performed using the AMOS 25.0 software

to assess convergent and discriminant validity and to
determine whether the model fit indices were
acceptable [93]. The general fit indices are as follows:
chi-square/df = 1.218 < 3, GFI = 0.928 > 0.9, CFI =
5.2. Exploratory Factor Analysis 0.985 > 0.9, TLI = 0.983 > 0.9, and RMSEA = 0.026 <
To assess the convergent and discriminant validity 0.8 [97], [98], indicating that the model meets
of all measurement scales, all research constructs and analytical standards. The overall reliability of the
their corresponding observed variables were subjected model suggests that the theoretical constructs in the
to oblique rotation within a single analytical model. research model are appropriate.
The results are presented in Table 2. Table 3 offers an overview of the reliability tests
conducted on the scales, employing Cronbach's alpha
Table 2 EFA results
and composite reliability, and the variance extracted
through EFA and CFA. The average variance extracted
(AVE) for each construct surpasses the minimum
acceptable threshold of 0.5, indicating that the scales
exhibit convergent validity [99]. The composite
reliability and Cronbach’s α coefficients for all of the
constructs exceed 0.80, indicating high reliability
[100].

Table 3 Reliability and variance extracted for measurement scales

 69

The test results demonstrate that the square root of 5.5. Variable Mediation Test
the AVE (main diagonal) is greater than the correlation The relationships involving mediation were tested
values in the rows and columns. Therefore, the using the bootstrap method [101], [102]. Bootstrapping
constructs in the theoretical model satisfy the involves repeated sampling to analyze the results rather
requirements for discriminant validity. than making assumptions about the population. The
Based on the CFA results, the model satisfied the bootstrapping analysis (B = 5,000) results are presented
requirements for overall fit, the scales had adequate in Table 5.
composite reliability and extracted variance, and the
constructs in the research model met the criteria for Table 5 Results of mediating effect testing (bootstrapping)
both convergent and discriminant validity.
Consequently, the structural equation model was used
to test the research hypotheses.

5.4. Hypothesis Test

Based on the CFA results, SEM was employed to
test the research hypotheses. The model analysis results
are presented in Fig. 3.

Ability positively influences entrepreneurial

motivation (p < 0.01) and entrepreneurial intention (p <
0.05). This implies that individuals with higher abilities
exhibit higher entrepreneurial motivation and intention.
The mediating relationship between ability and
intention through entrepreneurial motivation is
statistically significant, suggesting that competent
individuals have higher entrepreneurial motivation,
which increases their entrepreneurial intention.
Subjective norms only affect entrepreneurial
motivation (p < 0.05). This implies that having
successful entrepreneurs in one’s family, friends, or
surroundings provides motivation to start a business;
however, this factor does not directly influence
Fig. 3 SEM analysis results (Data analysis results by the authors) entrepreneurial intention.
Opportunities directly affect entrepreneurial
The analysis results in Fig. 3 demonstrate that the motivation (p < 0.01) and entrepreneurial intention (p <
model has a good overall fit, as indicated by the 0.05), with partial mediation being statistically
following parameters: chi-square/df = 1.211 < 3, GFI = significant. This implies that if young individuals
0.928 > 0.9, CFI = 0.986 > 0.9, TLI = 0.983 > 0.9, and perceive market potential and have opportunities to
RMSEA = 0.026 < 0.08. These overall fit results explore new markets, this will motivate them to
indicate that the model meets the required standards. become entrepreneurs.
Table 4 presents the results of direct relationship Attitudes and perceived behavioral control directly
analysis. affect motivation (p < 0.01) and have a full mediated
effect on entrepreneurial intention through
Table 4 Hypothesis testing for direct path entrepreneurial motivation. This implies that if young
people believe that running a business will yield
desirable and attractive outcomes and they have the
capability to operate as entrepreneurs, it will create
motivation, which will help them form a positive
attitude and ultimately increase their intention to start
their own business.
Entrepreneurial motivation directly affects
entrepreneurial intention (p < 0.01) and serves as both
a complete and partial mediator for other factors in the
model, thereby increasing entrepreneurial intention
among youth. This result implies that entrepreneurial
intention can only be formed if individuals are
motivated to engage in the activity. Motivation acts as
 Thai & Sinh. Youth Entrepreneurial Intentions and the Mediating Effect of Motivation: Evidence from Ho Chi Minh City, Vietnam, Vol. 51
No. 6 June 2024
70
an energizing factor in the process of developing and data analysis.
business intentions. The findings of this research indicate that factors
Based on the above analysis results, Table 6 such as ability (Abb), subjective norms (SN),
summarizes the hypothesis testing results. opportunity (Opp), attitude (Att), and perceived
behavioral control (PB) have a direct influence on
Table 6 Summary of the results of testing the research hypotheses entrepreneurial motivation (EM); Abb, Att, and EM
have a direct impact on entrepreneurial intention (EI).
EM serves as a full mediator, transmitting the influence
of Att and PB on EI, and as a partial mediator in the
relationship between Abb and Opp with EI. These
results suggest that the AMO theory can be integrated
with the TPB to study entrepreneurial intention.
The results of this study are of practical
significance. First, the current entrepreneurial support
policies from the stakeholders are incomplete and lack
solutions to foster an entrepreneurial culture.
Therefore, fundamental and synchronized solutions are
needed to integrate education with business and
entrepreneurial activities. The results of this research
could serve as a foundation for policymakers to
formulate macro-level entrepreneurial strategies.
Second, it is necessary to adjust the education system
to make it more applicable by linking practical
activities with theoretical knowledge and integrating
education and training with real-world activities to
foster independence and enhance entrepreneurial
motivation among learners. The results of this study
offer insights for higher education institutions in
6. Discussion designing entrepreneurial training programs and
The research findings indicate that ability (Abb), encourage scholars to conduct experimental research to
subjective norms (SN), opportunity (Opp), attitude develop entrepreneurial models suited to the
(Att), and perceived behavioral control (PB) have a Vietnamese context. Third, there should be a focus on
direct influence on entrepreneurial motivation (EM) entrepreneurial communication, where the role of
among young people, and through this factor, they business associations is crucial in raising awareness
indirectly affect entrepreneurial intention (EI). Ability across all sectors, especially among the youth. The
positively influences entrepreneurial motivation (β = government must implement supportive policies such
0.276) and entrepreneurial intention (β = 0.144) among as tax incentives and streamlined, straightforward
youth. These findings align with those by Liñán [78] procedures for business registration, licensing, and
and Bayon et al. [79], demonstrating that an other business-related documentation. Additionally, it
individual’s abilities and skills impact their is necessary to develop entrepreneurial centers and
entrepreneurial goals and that entrepreneurship is a clubs and encourage successful entrepreneurs to
cognitive process in which abilities and skills play a participate in programs that share experiences and
crucial role. Cardella et al. [103] also showed that self- challenges in the business journey to motivate young
efficacy directly influences entrepreneurial intention. people to start their own businesses. Furthermore, the
involvement of businesses and organizations is needed
7. Conclusion to form startup funds, providing financial support
This study explores the factors influencing the channels to help young people turn their
entrepreneurial intention of young people in Ho Chi entrepreneurial intentions into practical business
Minh City through a combination of the TPB and the activities.
AMO framework, with motivation designed as a
mediating variable. The structural equation model was 7.1. Limitations
used to test the research hypotheses. This study The findings of this study have several limitations.
employs a mixed-methods approach, with the First, the sample was selected using a convenience
quantitative method playing a dominant role. The sampling method targeting a limited age group, which
research team meticulously followed a rigorous and may reduce the generalizability of the results. Second,
systematic process for each step in the research the use of the AMO theory and the design of
procedure, from the literature review and development motivation as a mediator in the theoretical model may
of the research model to the survey of the study sample not fully explain entrepreneurial intention because
 71

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