A Study of Factors Affecting Undergraduate Student Entrepreneurship in the New Normal Era Higher Education in Thailand

Authors

  • Sangsuk Pithayanukul Faculty of Business Administration, Institute of Entrepreneurial Science Ayothaya
  • Sunee Pithayanukul Faculty of Business Administration, Institute of Entrepreneurial Science Ayothaya

Keywords:

undergraduate student, intention, entrepreneurship

Abstract

This study aims to 1) examine the perceived importance of factors influencing entrepreneurial intention among undergraduate students in Thailand during the New Normal era, and 2) analyze the predictive power of four key factors—business environment, entrepreneurial characteristics, economic capital, and entrepreneurship education—on students' entrepreneurial intention. The target population comprised undergraduate students in Thailand. A sample of 400 students was selected using convenience sampling. The research instrument was a structured questionnaire using a 5-point Likert scale. Data were analyzed using descriptive statistics (mean and standard deviation) and multiple regression analysis. The findings revealed that students rated entrepreneurship education tailored to the New Normal as the most significant factor (𝑥̅ = 4.17, SD = 0.751), followed by economic capital (𝑥̅ = 4.09, SD = 0.790), business environment (𝑥̅ = 4.07, SD = 0.765), and entrepreneurial characteristics (𝑥̅ = 4.00, SD = 0.794). All four factors were positively correlated with entrepreneurial intention at a statistically significant level (𝑝 < 0.05). Moreover, these factors collectively predicted 61% of the variance in entrepreneurial intention (R² = 0.610, Adjusted R² = 0.594). The study offers implications for policy and curriculum development. Higher education institutions should design practice-oriented curricula that integrate digital and business technologies, while government and support agencies should provide financial access and infrastructure to foster new-generation entrepreneurs in the New Normal context.

References

Ajzen, I. (1991). The theory of planned behavior. Organizational Behavior and Human Decision Processes, 50(2), 179-211. https://doi.org/10.1016/0749-5978(91)90020-T

Bailey, K. D. (1987). Methods of social research (3rd edition). The Free Press.

Béchard, J.-P., & Toulouse, J.-M. (1998). Validation of a didactic model for the analysis of training objectives in entrepreneurship. Journal of Business Venturing, 13(4), 317–332. https://doi.org/10.1016/S0883-9026(98)80006-2

Chuchai, S. (2005). Entrepreneurial potential of Thai university students. Songkhla Nakarin Journal, Social Sciences and Humanities Edition, 11(3), 255-273.

Cochran, W. G. (1977). Sampling techniques (3rd edition). John Wiley & Sons.

Dahleez, K. A. (2009). The role of business incubators in developing entrepreneurship and creating new business start-ups in Gaza Strip. Journal of Entrepreneurship Development, 5(2), 112-135. https://doi.org/10.13140/RG.2.2.30058.41924

Gall, M. D., Gall, J. P., & Borg, W. R. (1996). Educational research: An introduction. Longman.

Gibb, A. (2002). Creating conducive environments for learning and entrepreneurship: Living with, dealing with, creating, and enjoying uncertainty and complexity. Industry and Higher Education, 16(3), 135-148. https://doi.org/10.5367/000000002101296234

Hair, J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2010). Multivariate data analysis (7th edition). Prentice Hall.

Holmgren, C., From, J., Olofsson, A., Karlsson, H., Snyder, K., & Sundström, U. (2005). Entrepreneurship education: salvation or damnation?. Journal of Entrepreneurship Education, 8, 7-19.

International Institute for Trade and Development. (2018). Development of trade between countries to drive developing countries towards the sustainable development goals (SDGs): Case study of Greater Mekong Subregion (GMS) countries.

Kolb, DA (1984). Experiential learning: Experience is the source of learning and development. Englewood Cliffs, NJ: Prentice Hall. http://academic.regis.edu/ed205/Kolb.pdf 1223948

Kolb, D. A. (1984). Experiential learning: Experience as the source of learning and development. Englewood Cliffs, NJ: Prentice Hall. http://academic.regis.edu/ed205/Kolb.pdf 1223948

Krueger, N. F., & Carsrud, A. L. (1993). Entrepreneurial intentions: Applying the theory of planned behaviour. Entrepreneurship & Regional Development, 5(4), 315–330. https://doi.org/10.1080/08985629300000020

Likert, R. (1967). The method of constructing an attitude scale. In M. Fishbein (Ed.), Attitude theory and measurement (pp. 90-95). Wiley.

Office of the National Economic and Social Development Board. (2007). Economic capital for national development during the 10th development plan. Retrieved from http://www.nesdb.go.th.

Sasananan, M. (2007). Product design for innovation creation and reverse engineering. Technology Promotion Association (Thailand-Japan).

Sahakijpicharn, N., Wongtaweelat, P., Tanitteerapan, T., Narmluk, M., & Suwannakhun, S. (2024). Exploring entrepreneurship among Thai college students through the lens of Theory of Planned Behavior. Journal of Entrepreneurship and Innovation Studies, 426, 1–20.

Schumpeter, J. A. (1983). The theory of economic development: An inquiry into profits, capital, credit, interest, and the business cycle (Vol. 55). Transaction publishers.

Smithikrai, C. (2005). Training of personnel in the organization. Bangkok: Chulalongkorn University Printing House.(in Thai).

Somsawat, S., Netpradit, N., & Phanpha, P. (2022). Causal influence on performance under the new normal lifestyle base of the MICE business in Thailand. Christian University Journal, 28(4), 1–15. Retrieved from https://he01.tci-thaijo.org/index.php/CUTJ/article/view/253185

Suwanmongkol, P. (2014). The role of Rajabhat University and education for democracy. Praewa Kalasin Academic Journal, 1(1), 100-108. https://so05.tci-thaijo.org/index.php/Praewa-ksu_Journal/article/view/89315/70293

Turker, D., & Sonmez Selçuk, S. (2009). Which factors affect entrepreneurial intention of university students?. Journal of European Industrial Training, 33(2), 142-159. https://doi.org/10.1108/03090590910939049

Vogel D., & Kovacheva V. (2014). Germany, in: A. Triandafillidou, R. Gropas (eds), European Immigration: A Sourcebook (second edition), pp. 147–160. Farnham: Ashgate.

Wanichbancha, K. (2011). Statistical analysis: Statistics for administration and research. (13th edition). Chulalongkorn University Press.

Wannamakok, S., Sissokho, U., & Gates, M. (2020). The influence of innovativeness and attitude on entrepreneurial intention among Thai undergraduate students. Journal of Innovation and Entrepreneurship, 9(15). https://doi.org/10.1186/s13731-020-00125-5

Wannamakok, S., Sissokho, U., & Gates, M. (2022). University students’ entrepreneurial intentions during COVID 19: The perspective of Social Cognitive Career Theory. Journal of Emerging Market and Innovation, 18(3). https://jemi.edu.pl/

Wilson, F., Kickul, J., & Marlino, D. (2007). Gender, entrepreneurial self-efficacy, and entrepreneurial career intentions: Implications for entrepreneurship education. Entrepreneurship Theory and Practice, 31(3), 387-406. https://doi.org/10.1111/j.1540-6520.2007.00179.x

World Bank. 2019. Principles for Effective Insolvency and Creditor/Debtor Regimes. Revised. Washington, DC: World Bank. Available at http://siteresources.worldbank.org/EXTGILD/Resources/5807554-1357753926066/ICRPrinciples-Jan2011[FINAL].pdf.

Wu, J. (2010). The impact of corporate supplier diversity programs on corporate purchasers’ intention to purchase from women-owned enterprises: An empirical test. Business & Society, 49(2), 359-380. https://doi.org/10.1177/0007650309360759

Ye, Z. M., & Kang, K. W. (2025). The Impact of Entrepreneurial Self-Efficacy and Entrepreneurship on Entrepreneurial Intention: Entrepreneurial Attitude as a Mediator and Entrepreneurship Education Having a Moderate Effect. Sustainability, 17(10), 4733. https://doi.org/10.3390/su17104733

Yothongyot, M., & Sukmuangma, S. (2016). Factors influencing undergraduate students' intention to become entrepreneurs: A case study of Bangkok University. Suthiparithat Journal, 30(95), 103–115. https://so05.tci-thaijo.org/index.php/DPUSuthiparithatJournal/article/view/244198/165892

Zhang, J., & Huang, J. (2021). Entrepreneurial self-efficacy mediates the impact of the post-pandemic entrepreneurship environment on college students’ entrepreneurial intention. Frontiers in Psychology, 12, 643184. https://doi.org/10.3389/fpsyg.2021.643184

PDF

Downloads

Published

2025-12-23

How to Cite

Pithayanukul, S., & Pithayanukul, S. (2025). A Study of Factors Affecting Undergraduate Student Entrepreneurship in the New Normal Era Higher Education in Thailand. Journal for Strategy and Enterprise Competitiveness, 4(12), 84–99. retrieved from https://so07.tci-thaijo.org/index.php/STECOJournal/article/view/4585

Issue

Section

Research Article