The present chapter describes the conclusion of the overall study and the findings exposed in the previous chapters. Also, in this chapter, recommendations and suggestions for future studies are made.
Conclusions
The purpose of the study was to examine the relationship among Long-Term Orientation, Uncertainty Avoidance, and Entrepreneurial Intentions. Also, to determine if Locus of Control had a moderating effect in the relationship among the mentioned variables in order to understand the initiation of Entrepreneurial Behavior. Table 5.1 summarizes the results of the data analysis obtained in the previous chapter. Also, the segments bellow contains a more detailed description of each hypothesis.
Table 5.1.
Hypothesis Testing Results Summary
Hypotheses Results
H1 Long-Term Orientation positively relates to Entrepreneurial Intention. Supported H2 Uncertainty Avoidance negatively relates to Entrepreneurial
Intention. Supported
H3 Internal Locus of Control strengthens the positive relationship between high Long-Term Orientation and Entrepreneurial Intention.
Not Supported
H4 External Locus of Control weakens the negative relationship between high Uncertainty Avoidance and Entrepreneurial Intention.
Not Supported
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The Positive Effect of Long-Term Orientation
The finding of the present study showed that the variable of Long-Term Orientation is positively related to Entrepreneurial Intention. In other words, Hondurans that possess the characteristic of Long-Term Orientation will be driven by their Entrepreneurial Intentions.
It could be said that Long-Term Orientation plays a vital role in the adoption of Entrepreneurial Behavior since Entrepreneurial Intention is the first step of becoming an Entrepreneur. In other words, underdeveloped countries must take into consideration since entrepreneurship can be used as a strategy to increase economic growth and decrease social challenges (Ozaralli & Rivenburgh, 2016). Also, the characteristic of Long-Term Orientation can cause favorable outcomes in organizational outputs since individuals with this characteristic tend to show perseverance until they achieve their goals.
The Negative Effect of Uncertainty Avoidance
The results of the data analysis showed that Uncertainty Avoidance is negatively related to Entrepreneurial Intention. Meaning that Hondurans with high Uncertainty Avoidance will avoid be driven by their Entrepreneurial intentions since individuals with this characteristic tend to avoid situations in which they cannot predict the outcomes. As Naktiyok et al. (2009) stated the characteristic of uncertainty avoidance is the level of importance that an individual assign to stability. It could be said that Uncertainty Avoidance plays a vital role in influencing the performance of an employee and the decision of an individual to become an entrepreneur. In other words, this characteristic cause adverse outcomes in the decision of adopting a determined behavior.
Moderating Effect of Locus of Control
The results of this study indicated that Locus of Control does not interfere in the relationship between Long-Term Orientation and Entrepreneurial Intention nor the relationship between Uncertainty avoidance and Entrepreneurial Intention. Even though the results are not consistent with the established hypotheses, this characteristic can still be taken into consideration for future references.
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Internal and External Locus of Control are still factors that determine human behavior and the way an individual perceives its environment. In other words, the way a person perceives its environment can determine or influence in their daily decisions. It must be said that for future researches, the variable of religion must be included as a controlled variable since religion is a factor that influences people’s beliefs, which means that it can cause some confusion or inconsistencies in the participant’s responses.
Practical Implications of the Study
As established before, the formation of an individual’s intention depends on their characteristics, such as attitude, Personality, and cultural values. According to this study, Long-Term Orientation has a positive impact on Entrepreneurial Intention. Therefore, organizations must take into consideration to hire individuals with this characteristic to ensure the retention of their employees. As mentioned in previous chapters, individuals with this characteristic set long term goals and demonstrate perseverance until they achieve their goal, hence it can not only assist an individual in adopting an entrepreneurial behavior but also assist an organization with innovative ideas.
Second, the study results showed that Uncertainty Avoidance has a negative impact on Entrepreneurial intention. Hence people with a high level of UA will avoid adopting entrepreneurial behaviors, and this not only affects personal decisions but affects how people perform in a determined organization meaning that HR should consider establishing a questionnaire to measure this characteristic to evaluate the flexibility that managers must have in an organization. Also, how rigid the organizational structure must be towards their employees.
Third, regarding the moderating effect of Locus of Control, the influence that this personality trait has on someone’s behavior cannot be denied. Although the outcomes of the study were not as predicted, Locus of Control can be considered for future researches relating it to entrepreneurial intention hence entrepreneurial behavior having in consideration all the critical factors that can influence this variable such as the demographic characteristics. Regarding organizational implications, HR could measure this characteristic among their employees to establish a more appropriate organizational culture and aligned it to the organizational goals.
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Fourth, the results of this study can assist the targeted country by showing the importance of promoting Entrepreneurial characteristics since it was found that some of the population already possess characteristics related to Entrepreneurial Intention. Consequently, this will assist by stimulating the economic growth and resolution of social issues through innovative ideas.
Research Limitations
Even though the present study contributes to the literature, is still presents some limitations.
First, the study sample was only Hondurans within the age of 18-49 years, which means that the result only applies to this determined population. Second, this study uses a cross-sectional design, even though it estimates the prevalence of certain behaviors or characteristics in a selected population the data was collected in only one period. Third, in the beginning, the collected sample was of 230 Hondurans but was depurated to 170 valid participants due to some inconsistencies with the variable of Locus of Control. Due to limited time to collect a larger sample, it may not be able to represent the entire population. Fourth, the study may have a common method bias issue since the data was collected in a self-reported way from the same participants. “Errors introduced by methods and tools could contaminate analytical results” (Eichhorn, 2014, p. 1). The mentioned limitations cause difficulties providing strong evidence of cause and effect.
Suggestions for Future Study
Studying the factors that influence Entrepreneurial Intention is a helpful strategy to promote Entrepreneurial Behavior, especially in underdeveloped countries. For future researches, it is vital to take more broadly into consideration the control variables. For example, it might be helpful to include religion as a variable since religion is a cultural value that causes differences among societies regarding attitudes, perceptions, and behavior, which are factors that can influence Entrepreneurial Intention. Also, the recompilation of a larger sample is crucial to provide a more accurate representation of the selected population. Moreover, future studies can adopt longitudinal design or experimental design to investigate the causal relationship between independent and dependent variables more accurately.
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APPENDIX: QUESTIONNAIRE
Dear Participants,
I am a student from the Graduate International Human Resources Development Master Program at National Taiwan Normal University, Taiwan, R.O.C.
For graduating requirements, I am conducting a study to distinguish if Cultural Values at an individual level and Personality Traits influence Entrepreneurial Intentions. The results of this study will be utilized to identify and analyze the relationship between the mentioned variables to promote Entrepreneurial Behavior; hence, the possibility to increase the economic and wealth growth of a country.
I would be grateful if you could spend 10 to 15 minutes, answering the following questions.
Your participation is voluntary; any information you provide is confidential, and nothing that identifies you will be published. If you are willing to take part in the study, you will be asked to read a series of statements and indicate your disagreement or agreement by marking the appropriate response category according to your personal experience.
Thank you for your time, and if you have any questions about the survey, or need additional information you can contact me at l*********6@gmail.com
Sincerely,
Edna Lillian Martínez Magaña
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LTO (Tradition & Planning)
INSTRUCTIONS: Please read each statement and select a number from 1 to 5, which best applies to your situation. There are no right or wrong answers. Do not spend too much time
on any statement.
The rating scale is as follows:
1 Strongly Disagree Respect for tradition is important to me.
Family heritage is important to me.
I value a strong link to my past.
Traditional values are important to me.
I plan for the long term.
I work hard for success in the future.
I do not mind giving up today’s fun for success in the future. When I make plans, I am almost certain that I
can make them work.
58 Getting people to do the right thing depend
upon ability; luck has nothing to do with It.
What happens to me is my own doing.
Many of the unhappy things in people's lives are partly due to bad luck.
Getting a good job depends mainly on being in the right place at the right time.
Many times, I feel that I have little influence over the things that happen to me.
Many times, I feel that I have little influence over the things that happen to me.