The foundation of entrepreneurial intention

Individual intentions influence human behaviors and, as a consequence, organizational outcomes. Therefore, the ability to understand and to predict intentions becomes a central issue in the managerial literature. In this contribution we study the formulation of entrepreneurial intentions. Drawing on a widely used intentional paradigm, the theory of planned behavior (Ajzen, 1991), we model the influence of individual characteristics and contextual variables on the intention formation process. Relying on a sample of 200 entrepreneurs, founders of 133 new-technology-based firms, we test a theoretical model of the micro-foundation of entrepreneurial intention. Our results show that entrepreneurial intention is influenced by psychological characteristics, by individual skills and by environmental influences. Managerial implications related to the creation of the conditions fostering entrepreneurial intentions within companies are discussed.