Big Five Personality Traits and Entrepreneurial Intention: An Empirical Evidence from Sri Lankan State Universities

Abstract

The literature shows that personality factors were salient in determining entrepreneurial intention. However, most research on the association between Big Five personality traits and entrepreneurship has been undertaken in developed countries, with little emphasis on emerging countries such as Sri Lanka. Paradoxically, there is a dearth of prior research examining the association between the Big Five personality traits and entrepreneurial intentions among Sri Lankan university students. The present study investigates the impact of the big five personality traits on entrepreneurial intention. The study used a quantitative survey using a convenience sample of Sri Lankan university students. A total of 196 valid questionnaires were received and analysed. The researchers employed the partial least squares (PLS) approach with smart PLS software (version 3.0) to test the hypotheses. The result showed that Extraversion, Agreeableness, Conscientiousness, and Openness significantly impact entrepreneurial intentions among Sri Lankan university students. Further, Neuroticism has an insignificant impact on entrepreneurial intentions. The research advises the government and policymakers to comprehend students’ personality traits who are likely to become future entrepreneurs and to encourage new start-ups by offering different incentives. Other repercussions are mentioned.