Personal Values and Entrepreneurial Intentions: the Role of Collectivistic Values

Abstract

This doctoral dissertation bases its analysis in the conviction that personal values (PV) relevantly affect the individuals’ entrepreneurial intentions (EIs). The personal value structure act as a powerful antecedent in the formation of EIs. To test this relationship, this dissertation first carries out a systematic literature review (SLR) where most valuable previous insights are recollected and an integrative conceptual framework is presented. This SLR has found that, in particular, the Basic Human Value theory proposed by Schwartz in 1992 and the Theory of Planned Behaviour developed by Ajzen in 1991 are the most relevant frameworks used to analyse this relationship between PV and EIs. In the same vein, the SLR identifies this research topic as a novel field of study since most of the relevant contributions have been published since 2011, half of which appeared from 2017. On the other hand, an empirical study is carried out to test this relationship. In this regard, this dissertation proposes an analysis of the role of the collectivistic PVs in the formation of EIs. Accordingly, a cross-country study was conducted on a sample of individuals from two different regions, Hampshire in the United Kingdom, and Catalonia in Spain. The Values and Entrepreneurial Intention (VIE) questionnaire was used to measure this value-intention relationship. As a result, we find PVs to exert an indirect and negative effect on the entrepreneurial intention through both personal attitude and perceived behavioural control. Nevertheless, we also find an indirect positive effect through subjective norms. These results are consistent in both countries. This dissertation highlights that not only individualistic values are needed to exert an influence on the formation of entrepreneurial intentions, but also, those of a more collectivistic nature. These latter values also explain the formation of entrepreneurial intention. However, we find that very few studies have so far focused their analysis on these collectivistic values. Finally, this dissertation proposes some relevant conclusions and implications. Consequently, the research includes a future research agenda and opportunities to further explain the relationship of PV and EIs.