THEORY OF PLANNED BEHAVIOR: PERSONAL ATTITUDE AND PERCEIVED BEHAVIORAL CONTROL AS KEY DETERMINANTS IN CREATION OF ENTREPRENEURIAL SOCIETIES AND SOCIAL INCLUSION OF YOUNG PEOPLE

Abstract

This paper examines the basic variables from the Theory of Planned Behavior in order to explain entrepreneurial intentions of 317 young people (students of economics and business) in a transitional economy, the Republic of North Macedonia (hereafter N. Macedonia). Confirmatory factor analysis for model fit and multiple regression analysis are used to test the hypotheses. The findings indicate that the young people’s personal attitude and perceived behavioral control are two variables that have significant positive association with their entrepreneurial intent (the intent to start their own business in future). However, even when young people have high positive perceptions and strong perceived behavioral control (self-confidence in their own capabilities), their intent is not very clear (high). In order to contribute to the development of entrepreneurial societies and increase youth social inclusion through self-employment, policymakers and the scientific community should search for further answers for the underlying factors that hinder the entrepreneurial intention in transitional economies.