Predicting Roles of Personality Traits on Entrepreneurial Intention among Students: An Empirical Study of Universities in Southwest, Nigeria

Abstract: Entrepreneurial intention is a significant factor in determining potential entrepreneurs. Hence this study examines the predicting roles of personality traits on entrepreneurial intention among students in Nigerian university. Descriptive research design was adopted for the study and a sample size of 282 students were randomly selected using Yamane (1967) sample size calculation formula on a population of 957 entrepreneurship students. Primary data were collected and analysed using structured questionnaire and Ordinary Least Square (OLS) method of estimation respectively. The study establishes a positive link between the need for achievement and entrepreneurial intention, with beta-value of 0.413*** and p-value of 0.000 also indicates that need for achievement has a significant influence on entrepreneurial intention. The study also reveals a positive association between risk-taking propensity and entrepreneurial intention with beta-value of 1.188** and p-value of 0.000 further reveals that risk-taking propensity influences entrepreneurial intent significantly. Lastly, a positive association was revealed between entrepreneurial self-efficacy and entrepreneurial intention with beta-value of 0.930** and p-value of 0.000 show a significant influence of self-efficacy on entrepreneurial intention. The deduction to be made from these findings is that personality traits tend to be important factors that can influence student’s intention to create entrepreneurial venture which invariably can be used to mitigate most of the challenges such as high rate of unemployment, high level of poverty, “yahoo boys” syndrome, kidnapping, and ritual killings among Nigerian youths