The impact of values and future orientation on intention formation within sustainable entrepreneurship

Abstract

Intentions have been identified as one of the main drivers of sustainable entrepreneurial opportunity recognition and ultimately activity. However, research has not provided sufficient explanation for how the inherent complexities of simultaneously generating social, environmental and economic value as well as considering the needs of future generations might influence the intention formation process of sustainable entrepreneurs. The aim of this study is therefore to investigate the impacts of values and future orientation on said intention formation process. This study uses structural equation modeling to quantitatively analyze an adapted model of the theory of planned behavior based on survey data of 407 students collected within two European countries. The empirical results highlight the importance of self-transcending values and future orientation to understand attitudes towards sustainable entrepreneurship. Attitudes and perceived behavioral control, in turn, positively influence intentions to become a sustainable entrepreneur. On a practical note, the results suggest that educational and other practitioners could stimulate sustainable entrepreneurial intentions through value activation strategies to raise attitudes. It is further recommended that, as a matter of policy, governmental programs should help strengthen subjective norms as a different route to stimulating intention formation.

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