Risk, Self-efficacy, and Entrepreneurial Intention in Romania

To survive, humans had to demonstrate entrepreneurial characteristics from early times, when they had to cooperate and organize to hunt more powerful animals (exploit opportunities), to innovate new ways of hunting (innovationInnovation) while facing the possibility of succumbing to injuries (take risks). From idea to practice, all entrepreneursEntrepreneur are going through a similar process of assessing alternatives, evaluating their potential to start a venture, and evaluating the risk involved before deciding to act. This study focuses on providing additional information concerning the relationships between these central factors in entrepreneurial behavior, namely entrepreneurial intentionEntrepreneurial intention, self-efficacySelf-efficacy, and the willingness to take risksWillingness to take risks, as these are essential factors in the decision to start a businessBusiness. The study identified significant correlations between the willingness to take risksWillingness to take risks and entrepreneurial intentionsEntrepreneurial intention and between the willingness to take risksWillingness to take risks and self-efficacySelf-efficacy. In addition, the analysis shows that several demographics predict respondents’ entrepreneurial intentionsEntrepreneurial intention.