IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v14y2022i20p13164-d941621.html
   My bibliography  Save this article

Youth’s Entrepreneurial Intention: A Multinomial Logistic Regression Analysis of the Factors Influencing Greek HEI Students in Time of Crisis

Author

Listed:
  • Konstantina Ragazou

    (Department of Business Administration and Tourism, Hellenic Mediterranean University, GR71410 Heraklion, Greece
    Department of Business Administration, Neapolis University Pafos, 8042 Pafos, Cyprus
    Department of Accounting and Finance, University of Western Macedonia, Kila, GR50100 Kozani, Greece)

  • Ioannis Passas

    (Department of Business Administration and Tourism, Hellenic Mediterranean University, GR71410 Heraklion, Greece)

  • Alexandros Garefalakis

    (Department of Business Administration and Tourism, Hellenic Mediterranean University, GR71410 Heraklion, Greece
    Department of Business Administration, Neapolis University Pafos, 8042 Pafos, Cyprus)

  • Markos Kourgiantakis

    (Department of Business Administration and Tourism, Hellenic Mediterranean University, GR71410 Heraklion, Greece)

  • George Xanthos

    (Department of Business Administration and Tourism, Hellenic Mediterranean University, GR71410 Heraklion, Greece)

Abstract

Governments’ coronavirus disease (COVID-19) measures have forced the community to stay at home. During this period, youths have had time to think about their career paths. For some, a conventional eight-hour job in a private company is undesirable; meanwhile, entrepreneurship can mitigate the adverse effects of the crisis, such as unemployment. Accordingly, this study investigates the intention of Greek youths that study in a higher education institution (HEI) to engage in entrepreneurship in times of crisis, and highlights the factors that drive them to enter the business arena. This study designed and distributed a questionnaire to 369 Greek youths who were studying at the University of Thessaly. The data from the empirical research were used to develop a multinomial logistic regression model to investigate youths’ entrepreneurial intention and reveal the driving factors. The results showed that during times of crisis, youths appeared hesitant to enter the business arena. However, those who were more confident indicated that entrepreneurship could provide them with greater satisfaction. Driving factors for engaging in entrepreneurship were family and friends. Inhibiting factors for establishing a new business were having previous work experience in a family business and lack of educational knowledge. This study contributes to the understanding of youths’ entrepreneurial intention and the driving factors that play a key role in shaping this intention in Greece during a crisis period, since there are few studies on this topic.

Suggested Citation

  • Konstantina Ragazou & Ioannis Passas & Alexandros Garefalakis & Markos Kourgiantakis & George Xanthos, 2022. "Youth’s Entrepreneurial Intention: A Multinomial Logistic Regression Analysis of the Factors Influencing Greek HEI Students in Time of Crisis," Sustainability, MDPI, vol. 14(20), pages 1-19, October.
  • Handle: RePEc:gam:jsusta:v:14:y:2022:i:20:p:13164-:d:941621
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/14/20/13164/pdf
    Download Restriction: no

    File URL: https://www.mdpi.com/2071-1050/14/20/13164/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Klyver, Kim & Steffens, Paul & Lomberg, Carina, 2020. "Having your cake and eating it too? A two-stage model of the impact of employment and parallel job search on hybrid nascent entrepreneurship," Journal of Business Venturing, Elsevier, vol. 35(5).
    2. Verd, Joan Miquel & Barranco, Oriol & Bolíbar, Mireia, 2019. "Youth unemployment and employment trajectories in Spain during the Great Recession : what are the determinants?," Journal for Labour Market Research, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany], vol. 53(1), pages 1-4.
    3. Ghoshray, Atanu & Ordóñez, Javier & Sala, Hector, 2016. "Euro, crisis and unemployment: Youth patterns, youth policies?," Economic Modelling, Elsevier, vol. 58(C), pages 442-453.
    4. Pompei, Fabrizio & Selezneva, Ekaterina, 2021. "Unemployment and education mismatch in the EU before and after the financial crisis," Journal of Policy Modeling, Elsevier, vol. 43(2), pages 448-473.
    5. Saridakis, George & Georgellis, Yannis & Muñoz Torres, Rebeca I. & Mohammed, Anne-Marie & Blackburn, Robert, 2021. "From subsistence farming to agribusiness and nonfarm entrepreneurship: Does it improve economic conditions and well-being?," Journal of Business Research, Elsevier, vol. 136(C), pages 567-579.
    6. Francesc Miralles & Ferran Giones & Carla Riverola, 2016. "Evaluating the impact of prior experience in entrepreneurial intention," International Entrepreneurship and Management Journal, Springer, vol. 12(3), pages 791-813, September.
    7. Liotti, Giorgio, 2020. "Labour market flexibility, economic crisis and youth unemployment in Italy," Structural Change and Economic Dynamics, Elsevier, vol. 54(C), pages 150-162.
    8. David Bell & David Blanchflower, 2015. "Youth unemployment in Greece: measuring the challenge," IZA Journal of European Labor Studies, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 4(1), pages 1-25, December.
    9. Iglesias, Matias Nehuen, 2021. "Measuring size distortions of location quotients," International Economics, Elsevier, vol. 167(C), pages 189-205.
    10. Francesc Miralles & Ferran Giones & Brian Gozun, 2017. "Does direct experience matter? Examining the consequences of current entrepreneurial behavior on entrepreneurial intention," International Entrepreneurship and Management Journal, Springer, vol. 13(3), pages 881-903, September.
    11. Stephen P. Ferris & Murali Jagannathan & A. C. Pritchard, 2003. "Too Busy to Mind the Business? Monitoring by Directors with Multiple Board Appointments," Journal of Finance, American Finance Association, vol. 58(3), pages 1087-1111, June.
    12. Verd, Joan Miquel & Barranco, Oriol & Bolíbar, Mireia, 2019. "Youth unemployment and employment trajectories in Spain during the Great Recession : what are the determinants?," Journal for Labour Market Research, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany], vol. 53(1), pages .4(1-20).
    13. Wei, Yifan, 2022. "Regional governments and opportunity entrepreneurship in underdeveloped institutional environments: An entrepreneurial ecosystem perspective," Research Policy, Elsevier, vol. 51(1).
    14. Billings, Stephen B. & Johnson, Erik B., 2012. "The location quotient as an estimator of industrial concentration," Regional Science and Urban Economics, Elsevier, vol. 42(4), pages 642-647.
    15. Stephen P. Ferris & Murali Jagannathan & A. C. Pritchard, 2003. "Too Busy to Mind the Business? Monitoring by Directors with Multiple Board Appointments," Journal of Finance, American Finance Association, vol. 58(3), pages 1087-1112, June.
    16. Boruchowicz, Cynthia & Parker, Susan W. & Robbins, Lindsay, 2022. "Time use of youth during a pandemic: Evidence from Mexico," World Development, Elsevier, vol. 149(C).
    17. Audretsch, David B. & Lehmann, Erik E. & Menter, Matthias & Wirsching, Katharine, 2021. "Intrapreneurship and absorptive capacities: The dynamic effect of labor mobility," Technovation, Elsevier, vol. 99(C).
    18. repec:iab:iabjlr:v:53:i:1:p:art.4 is not listed on IDEAS
    19. Kourilsky, Marilyn L. & Walstad, William B., 1998. "Entrepreneurship and female youth: knowledge, attitudes, gender differences, and educational practices," Journal of Business Venturing, Elsevier, vol. 13(1), pages 77-88, January.
    20. Joan Miquel Verd & Oriol Barranco & Mireia Bolíbar, 2019. "Youth unemployment and employment trajectories in Spain during the Great Recession: what are the determinants?," Journal for Labour Market Research, Springer;Institute for Employment Research/ Institut für Arbeitsmarkt- und Berufsforschung (IAB), vol. 53(1), pages 1-20, December.
    21. Sobel, Russell S. & King, Kerry A., 2008. "Does school choice increase the rate of youth entrepreneurship?," Economics of Education Review, Elsevier, vol. 27(4), pages 429-438, August.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Walid Simmou & Ibrahim Sameer & Khaled Hussainey & Samira Simmou, 2023. "Sociocultural factors and social entrepreneurial intention during the COVID-19 pandemic: Preliminary evidence from developing countries," International Entrepreneurship and Management Journal, Springer, vol. 19(3), pages 1177-1207, September.
    2. Alexandra Zamfirache & Titus Suciu & Carmen Elena Anton & Ruxandra-Gabriela Albu & Ioana-Simona Ivasciuc, 2023. "The Interest Shown by Potential Young Entrepreneurs in Romania Regarding Feasible Funding Sources, in the Context of a Sustainable Entrepreneurial Education," Sustainability, MDPI, vol. 15(6), pages 1-29, March.
    3. Therese Bonnici & Marie Briguglio & Glen William Spiteri, 2023. "Humor Helps: An Experimental Analysis of Pro-Environmental Social Media Communication," Sustainability, MDPI, vol. 15(6), pages 1-22, March.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mattia Vacchiano, 2022. "Nine Mechanisms of Job-Searching and Job-Finding Through Contacts Among Young Adults," Sociological Research Online, , vol. 27(2), pages 361-378, June.
    2. Ripamonti, Enrico & Barberis, Stefano, 2021. "The association of economic and cultural capital with the NEET rate: differential geographical and temporal patterns," Journal for Labour Market Research, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany], vol. 55, pages 1-13.
    3. repec:iab:iabjlr:v:55:i::p:art.13 is not listed on IDEAS
    4. Ainhoa Herrarte & Paloma Urcelay, 2022. "The Wage Penalty for Motherhood in Spain (2009-2017): The Role of the Male Partner’s Job Characteristic," Hacienda Pública Española / Review of Public Economics, IEF, vol. 241(2), pages 27-57, June.
    5. Enrico Ripamonti & Stefano Barberis, 2021. "The association of economic and cultural capital with the NEET rate: differential geographical and temporal patterns," Journal for Labour Market Research, Springer;Institute for Employment Research/ Institut für Arbeitsmarkt- und Berufsforschung (IAB), vol. 55(1), pages 1-17, December.
    6. Inmaculada Sureda-García & Rafael Jiménez-López & Olaya Álvarez-García & Elena Quintana-Murci, 2021. "Emotional and Behavioural Engagement among Spanish Students in Vocational Education and Training," Sustainability, MDPI, vol. 13(7), pages 1-15, April.
    7. Owen, Ann L. & Temesvary, Judit, 2018. "The performance effects of gender diversity on bank boards," Journal of Banking & Finance, Elsevier, vol. 90(C), pages 50-63.
    8. Tang, Xuesong & Lin, Yan & Peng, Qing & Du, Jun & Chan, Kam C., 2016. "Politically connected directors and firm value: Evidence from forced resignations in China," The North American Journal of Economics and Finance, Elsevier, vol. 37(C), pages 148-167.
    9. Rüdiger Fahlenbrach & Angie Low & René M. Stulz, 2010. "The Dark Side of Outside Directors: Do they Quit When They are Most Needed?," Swiss Finance Institute Research Paper Series 10-17, Swiss Finance Institute.
    10. Ferris, Stephen P. & Yan, Xuemin (Sterling), 2007. "Do independent directors and chairmen matter? The role of boards of directors in mutual fund governance," Journal of Corporate Finance, Elsevier, vol. 13(2-3), pages 392-420, June.
    11. Sofia Larmou & Nikos Vafeas, 2010. "The relation between board size and firm performance in firms with a history of poor operating performance," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 14(1), pages 61-85, February.
    12. Felix Meyerinck, 2017. "Ira M. Millstein: The activist director—lessons from the boardroom and the future of the corporation," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 31(3), pages 393-395, August.
    13. Badolato, Patrick G. & Donelson, Dain C. & Ege, Matthew, 2014. "Audit committee financial expertise and earnings management: The role of status," Journal of Accounting and Economics, Elsevier, vol. 58(2), pages 208-230.
    14. Gopalan, Radhakrishnan & Gormley, Todd A. & Kalda, Ankit, 2021. "It’s not so bad: Director bankruptcy experience and corporate risk-taking," Journal of Financial Economics, Elsevier, vol. 142(1), pages 261-292.
    15. Ovtchinnikov, Alexei V. & Pantaleoni, Eva, 2012. "Individual political contributions and firm performance," Journal of Financial Economics, Elsevier, vol. 105(2), pages 367-392.
    16. Tutun Mukherjee & Som Sankar Sen, 2022. "Impact of CEO attributes on corporate reputation, financial performance, and corporate sustainable growth: evidence from India," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-50, December.
    17. Adams, Renée B. & Ferreira, Daniel, 2008. "Do directors perform for pay?," Journal of Accounting and Economics, Elsevier, vol. 46(1), pages 154-171, September.
    18. Christy Glass & Alison Cook & Alicia R. Ingersoll, 2016. "Do Women Leaders Promote Sustainability? Analyzing the Effect of Corporate Governance Composition on Environmental Performance," Business Strategy and the Environment, Wiley Blackwell, vol. 25(7), pages 495-511, November.
    19. Noel O'Sullivan, 2005. "Why do executives serve as non-executives? Pre-Cadbury evidence from UK non-financial companies," Accounting and Business Research, Taylor & Francis Journals, vol. 35(2), pages 161-176.
    20. Qi Wang & Maoxia Sun & Kongwen Wang, 2023. "Do Reputation Incentives Matter? Busy Directors and Corporate Social Responsibility in China," Sustainability, MDPI, vol. 15(6), pages 1-17, March.
    21. Rahimah Mohamed Yunos Author_Email: rahim221@johor.uitm.edu.my & Malcolm Smith & Zubaidah Ismail & Syahrul Ahmar Ahmad, 2011. "Inside Concentrated Owners, Board Of Directors And Accounting Conservatism," Annual Summit on Business and Entrepreneurial Studies (ASBES 2011) Proceeding 2011-053-178, Conference Master Resources.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:14:y:2022:i:20:p:13164-:d:941621. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.