The Influence of Big Five Traits and Motivation on Entrepreneurial Intention among Generation Z in Thailand
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Abstract
This quantitative survey research investigates the influence of personality traits and motivation on entrepreneurial intention (EI) of young entrepreneurs born between 1997 and 2012 (Generation Z). A cross-sectional descriptive design was used to collect data by questionnaire from 400 Thai entrepreneurs aged 18 to 28. Data was descriptively analyzed by percentage, mean, and standard deviation. Inferential statistics included one-way analysis of variance (ANOVA) and multiple linear regression.
Data were analyzed that most samples were females having earned bachelor’s degrees who were in the early stages of operating small-sized businesses. Overall, personality traits were at a high level, with the highest mean score in extraversion, followed by empathy, openness to experience, conscientiousness, and emotional stability. Entrepreneurial motivation was at the highest level, with extrinsic motivation having a higher mean score than intrinsic motivation.
Additionally, gender, educational level, business size, and business longevity had no significant impact on EI. Personality traits, openness to experience and conscientiousness were found to significantly influence the intrinsic motivation of Generation Z entrepreneurs, explaining 10.9% of the variance. And personality traits of openness to experience, agreeableness, and conscientiousness were found to significantly influence extrinsic motivation, which explained 52.9% of the variance. At the same time, the personality traits of openness to experience, agreeableness, and conscientiousness were found to significantly influence EI, explaining 9.0% of the variance. Both intrinsic and extrinsic motivations influenced sample EI, jointly explaining 49.3% of the variance in entrepreneurial intention, with intrinsic motivation exerting a stronger influence than extrinsic motivation.
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