Gender Difference and the Formation of Entrepreneurial Self-Efficacy

Although the prevalence of women-owned businesses is increasing, the research into the reasons behind their success is scarce. Researchers have posited that women entrepreneurs have less self-confidence than men entrepreneurs.Self-efficacy, or a person's confidence in performing a particular task, has been shown to aid entrepreneurial intentions and actions.In this study, self-efficacy is hypothesized as essential in creating an entrepreneurial motivation among aspiring entrepreneurs. Surveys are administered to 67 undergraduate and graduate students enrolled in a business simulation course during their final semester before graduating. The findings reveal that an individual's level of education does not significantly influence self-efficacy.The level of self-efficacy is found to be significantly related to one's perceived financial knowledge, and the relationship between education level and self-efficacy differs based on gender.Women with higher education exhibit a positive relationship to self-efficacy, while men with higher educational attainment show a slightly negative relationship to self-efficacy.However, an overall comparison to women shows that men exhibit higher levels of self-efficacy at all education levels.The limitations of this study are presented, as are implications.(AKP)