Analyzing the past to prepare for the future: a review of literature on factors with influence on entrepreneurial intentions

The purpose of this paper is to review existing literature and show the state of the art regarding the factors that influence the entrepreneurial intention (EI) of individuals. It provides a synthesis/integration of previous research on the topic as a framework to identify shortcomings, new lines of research, and practical insights. The analysis conducts a systematic review of 177 papers in the SCOPUS database from 1994 to 2017. The findings highlight three themes regarding the factors that influence EI: personal-level variables, entrepreneurship education (EE), and contextual factors and institutional variables. Within each of these themes, cognitive factors such as self-efficacy; personality and psychological variables such as propensity/adversity to risk; and socio-demographic variables such as age, gender, and human capital seem to exert an influence, in addition to personal motivations and/or deterrents. EE appears to have the greatest influence in most cases; at least it helps to develop greater self-efficacy or a more favorable attitude toward entrepreneurship, among others. Finally, with regard to contextual and institutional variables, cultural and social contexts seem to have a clear influence on EI, along with informal institutions through the normative dimension. Although there are many studies on the “factors that influence EI,” this study is the first attempt to make a qualitative presentation on the state of the art. It makes practical suggestions to encourage entrepreneurship in universities and in retired individuals. It also makes recommendations for improvement and suggests new lines of research such as the importance of linking these three categories of factors that influence EI, with the evaluation of an international entrepreneurship.