Entrepreneurial Intentions: the Role of Human Capital, Social Networks and Context Factors in Shaping Entrepreneurial Aspirations ‘A Proposed Model for Empirical Analysis’

Abstract

This research investigates how human capital, social networks, and context factors influences create entrepreneurial intention and proposes a full-fledged model for further empirical testing. Entrepreneurial intention is an important antecedent to actual entrepreneurial action, and entrepreneurial intention is key in understanding what fosters entrepreneurship. The study extracts critical attributes from three sets: human capital (education, skill, and experience); social capital (network size, mentoring, and community support); and contextual determinants (cultural attitudes and economic situations).

Complementing the Human Capital Theory, Social Capital Theory, Cultural Dimensions Theory, and Economic Context Theory, the paper analyzes how these theories not just integrate the studied variables but also interact to influence people's inclinations for participation in entrepreneurial activities. In particular, the view is that higher levels of education and stronger social networks have an enormous positive influence on entrepreneurial intention in the presence of varying cultural and economic conditions. The model proposed highlights the interconnectedness of these components, putting forward that enhancing human capital through education and skill development, together with enlarging social networks, can somehow influence the entrepreneurial ambitions. In addition, the model elaborates on cultural attitudes and economic factors in terms of generating entrepreneurial goals, particularly under heterogeneous settings.

This study contributes to the extant literature by highlighting a coherent framework that accommodates several theoretical perspectives on entrepreneurship. The proposed model then serves as a platform for future empirical research that will seek to confirm the indicated linkages and broaden the understanding of the complexities of entrepreneurial behavior in varying circumstances. The paper wraps up with practical recommendations for policy makers and educators to extend support for prospective entrepreneurs and suggestions for future research to track the model's implications across time and in diverse cultural and economic settings.