A serial mediation model of the relation between cultural values, entrepreneurial self-efficacy, intentions and behaviors: Does entrepreneurial education matter? A multi-group analysis

The objective of this study is to utilize the Social Cognitive Career Theory and a serial mediation model to reduce the discrepancy between entrepreneurial intentions and actions. The study aims to explore the direct influences of cultural values and expound on the serial mediation effects of entrepreneurial self-efficacy and entrepreneurial intention in connecting cultural values to entrepreneurial behaviors. Besides, the moderation role of entrepreneurial education is also considered in this study. A sample of 1612 master students from nine universities/institutions in three main regions of Vietnam and Structural Equation Modelling with Gaskin’s (2019) plugin and 5000 bootstrapping sample was used to test formulated hypotheses. Also, a multi-group analysis was approached to illustrate the difference between students who received entrepreneurial education and those who did not receive entrepreneurial education. The research reveals that both entrepreneurial self-efficacy and entrepreneurial intention are strongly and positively related to entrepreneurial behaviors. Cultural values significantly affected entrepreneurial self-efficacy, entrepreneurial intentions, and entrepreneurial actions. In addition, entrepreneurial self-efficacy and entrepreneurial intentions also serve as serial mediators in the relation between cultural values and startup actions. Moreover, our study has demonstrated the significant moderation role of entrepreneurial education on these links. This study is expected to have significant contributions to entrepreneurship field by closing the intention-action gap in entrepreneurship, broadening our extant knowledge related to the serial indirect effects of cultural values on entrepreneurial actions through entrepreneurial self-efficacy and entrepreneurial intentions, and demonstrating the moderating role entrepreneurial education. Additionally, this study provides the appropriate recommendations for policymakers, educators, and students to inspire entrepreneurial activities.