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Assessing Entrepreneurial Intention Through Cognitive Factors in Spain Using the GEM Database

Author

Listed:
  • Olimjon Gaybullaev

    (University of Pécs, Pécs, Hungary)

  • Henry Obaga Were

    (Doctoral School of Regional Policy and Economics, Faculty of Business and Economics, University of Pécs, Pécs, Hungary; Kenya School of Government, Nairobi, Kenya)

Abstract

This study addresses the impact of cognitive factors, namely role models, self-efficacy, and risk aversion, on entrepreneurial intentions in Spain, specifically focusing on gender differences. The study employs data from the 2019 Global Entrepreneurship Monitor (GEM) Adult Population Survey (APS), encompassing responses from 22,936 persons aged between 18 and 64. The study uses binary logistic regression models to thoroughly examine the impact of these cognitive characteristics on entrepreneurial ambitions. The research findings reveal that having positive role models and strong self-belief significantly increases the likelihood of aspiring to become an entrepreneur, regardless of gender. Conversely, perceiving high levels of risk, especially the fear of failure, is a deterrent to pursuing entrepreneurship. Moreover, factors such as work status and education level have varying impacts on entrepreneurial intentions based on gender. These findings aid in understanding the factors that influence entrepreneurial intentions, emphasizing the importance of cognitive factors while considering gender-specific contexts.

Suggested Citation

  • Olimjon Gaybullaev & Henry Obaga Were, 2025. "Assessing Entrepreneurial Intention Through Cognitive Factors in Spain Using the GEM Database," Croatian Economic Survey, The Institute of Economics, Zagreb, vol. 27(1), pages 71-108, June.
    • Handle: RePEc:iez:survey:ces-v27_1-2025_gaybullaev-were
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    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • C83 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Survey Methods; Sampling Methods

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