Title: The Mediating Role of Achievement Motivation on the Influence of Entrepreneurs' Self-Efficacy and Subjective Norms on Small and Medium Enterprises Financing Decisions
Author: Ni Made Suci
Universitas Airlangga
Item Type: Thesis (Dissertation)
Abstract
This study aims to examine the mediating role of achievement motivation on the influence of entrepreneurs' self-efficacy and subjective norms of entrepreneurs on external financing decisions of SMEs. The sample of this study was 180 entrepreneurs who were determined by purposive sampling. Data collection with questionnaires was then analyzed with SEM-PLS. The results of this study indicate that 1) Entrepreneurs' self-efficacy has a positive and significant effect on external financing decisions of SMEs 2) Subjective norms do not affect external financing decisions of SMEs 3) Entrepreneurs' achievement motivation has a positive and significant effect on external financing decisions of SMEs, 4) Entrepreneurs' self-efficacy has a positive and significant effect on achievement motivation of entrepreneurs 5) Subjective norms of entrepreneurs do not affect achievement motivation of entrepreneurs, 6) Achievement motivation plays a partial mediating role in the influence of entrepreneurs' self-efficacy on external financing decisions of SMEs 7) Entrepreneurs' achievement motivation plays a partial mediating role in the influence of subjective norms of entrepreneurs on external financing decisions of SMEs. Further research is expected to develop a model of external financing decisions for SMEs by placing more emphasis on the achievement motivation aspect of entrepreneurs because it has been proven to increase the influence of entrepreneurs' self-efficacy and subjective norms on external financing decisions to increase their business growth.
Keywords: entrepreneur's self-efficacy, subjective norms, achievement motivation and external financing decisions of SMEs