Shaping the future Entrepreneurs: Influence of human capital and self-efficacy on entrepreneurial intentions of rural students

Abstract

This study explores the determinants of entrepreneurial intentions among rural students in Oman's Dhofar region, focusing on self-efficacy, skills, and education as components of human capital. Using Bandura's social cognitive theory, a quantitative approach examines how psychological factors and experiential learning influence entrepreneurial intentions. Data from 467 randomly selected students were collected via self-reported surveys. Results show a significant positive relationship between self-efficacy and entrepreneurial intentions, with higher self-efficacy levels correlating with greater entrepreneurial inclination. Skills also positively impact entrepreneurial intentions, highlighting the importance of diverse skill sets. Additionally, self-efficacy moderates the relationship between skills and intentions, suggesting that high self-efficacy enhances the translation of skills into entrepreneurial ambitions. Unexpectedly, no significant correlation between education and entrepreneurial intentions was found. This study emphasizes the importance of psychological factors and experiential learning in shaping entrepreneurial intentions in unique socio-cultural and economic contexts. Insights can help policymakers and educators promote entrepreneurship and economic development in rural communities, fostering resilience and empowerment. This research enriches our understanding of entrepreneurship in diverse settings by examining the under-researched Dhofar region.