Antecedents of Entrepreneurial Intention: The Role of Entrepreneurial Self-Efficacy and Metacognitive Knowledge.

Abstract

Even though various factors have been explored to understand their influence on entrepreneurial intentions, the impact of higher-order cognitive factors, specifically metacognitive knowledge, on entrepreneurial intention has received little attention. This study aims to examine the moderating role of metacognitive knowledge on the relationship between entrepreneurial self-efficacy and entrepreneurial intention whilst considering formal learning perceptions and entrepreneurial experience as antecedents to entrepreneurial intention. Accordingly, data was collected from 420 graduating students pursuing entrepreneurship in Sri Lanka via a paper-based questionnaire. The results proved metacognitive knowledge moderates the relationship between entrepreneurial self-efficacy and intention; perhaps the first time this moderation was proved in relation to entrepreneurial intention. Moreover, entrepreneurial self-efficacy partially mediated the positive associations between the considered antecedent factors and entrepreneurial intention. In fact, this study enhances the explanatory power of self-efficacy theory powered by the metacognitive theory and provides a more comprehensive understanding of factors contributing to individuals' self-efficacy.