An Empirical Analysis Of The Impact Of Entrepreneurial Self-Efficacy On The Perception Of Venture Feasibility Among Students Of University Of Lagos, Nigeria

Purpose-The present research examines, empirically, the relationship between entrepreneurial self-efficacy (ESE) and the perception of venture feasibility (PF) among the young people (18-25years), especially the students of University of Lagos, Nigeria.Research question-"Does entrepreneurial self-efficacy (ESE) among the students of University of Lagos predict their perceived feasibility of starting a new business?"Design/methodology/approach-This research draws randomly a sample of1000students of University of Lagos, Nigeria, who are in their3rd and4th levels respectively from the target population of5240students who registered and offered Entrepreneurship Education during the2012/2013academic session. Logistic Regression Models, as well as Multiple Regression Models, were used for the analysis and the test of the hypotheses. In addition, a telephone interview was conducted and the data extracted were analyzed using simple test of independence.Findings-This research shows that;(1) Entrepreneurial self-efficacy is a significant predictor of the perceptions of venture feasibility, venture opportunity identification, and entrepreneurial intentions.(2) Entrepreneurial intentions are independent of high perception of venture opportunity identification among young people in Nigeria.(3) Entrepreneurial intentions in the short-term show a stronger dependence on perception of venture feasibility among young people in Nigeria.(4) Necessity entrepreneurship also prevails among young people in Nigeria.Research limitation-This research is limited based on the omission of the perception of venture desirability and situational variables. The integration of the temporal construal theory with the model of entrepreneurial events is suggested. Originality/value-This in-depth analysis expands our basic sense of the differences between entrepreneurial self-efficacy and perceptions of entrepreneurship. It represents a pioneering ground work for the research on the role of specific efficacies in entrepreneurial intention formation process.Policy Implication-This research proposes that the motivation of the young people need be enhanced, stimulate a mind-shift towards "innovative start-up is preferred," enhance credible flow of inflow through financial intermediaries, and promote social networks with strong entrepreneurial inclinations.