Recently, entrepreneurship education in Korea has been rapidly growing, due to the active participation of not only government ministries and affiliated organizations due to the support policy of the government but the active participation of private...
Recently, entrepreneurship education in Korea has been rapidly growing, due to the active participation of not only government ministries and affiliated organizations due to the support policy of the government but the active participation of private sectors and universities as well. In particular, as part of the Leaders in Industry-university Cooperation (LINC) development project in 2012, entrepreneurship education centers were established in 61 universities around Korea, and the number of entrepreneurship courses also has been rapidly increasing.
Following the quantitative increase in entrepreneurship education, many researches have also been conducted on the effectiveness of entrepreneurship education. Existing research have mostly focused on psychological characteristics of students such as to mentally challenge, achievement need, problem-solving abilities, and locus of control as factors that influence the effectiveness of entrepreneurship education. However, these variables can only be understood through psychological measurement tools or specially designed questionnaires, which makes it difficult for institutions operating entrepreneurship education to use and for developing programs. Therefore, this research seeks to examine the influence the two particular factors of entrepreneurship education, instructor characteristics (focused on expertise) and education content, has on the effectiveness of entrepreneurship education. Furthermore, existing research has focused on entrepreneurial intention as measurements for the effectiveness of entrepreneurial education. However, start-up efficacy has recently emerged as an important variable to predict entrepreneurship success and entrepreneurship activity. Thus, this research selects Entrepreneurial Self-efficacy as the main variable to measure the effectiveness of entrepreneurship education. Through the research outcome, this research intends to provide assistance in designing entrepreneurship education programs at institutions that operate entrepreneurship education.
Regarding factors that influence the effectiveness of entrepreneurship education, there have been research focusing on the characteristics of the students (self-leadership, progressive spirit, autonomy, risk sensitivity, etc.) who are the consumers (Kang Jae-hak, 2015; Kim Su-hyeon and Yu Bong-ho, 2013). Other research have focused on the components (content of education, method of education, characteristics of instructor, etc.) of entrepreneurship education (Bae Seong-heon and Lee Kang-il, 2008; Lee Hong-ju, 2014; Ma Jong-sik, 2013; Cho Eun-ju, 2014). This research attempts to analyze the factors that influence the effectiveness of entrepreneurship education focused on the characteristics of instructor and content of education among the various factors of entrepreneurship education.
This research seeks to measure the effectiveness of entrepreneurship education focused on education performance, entrepreneurial intention, and start-up efficacy. Education performance indicates the results of interaction between an individual and education experience at the dimensions of the individual and the system. It focuses on the results rather than the process of education, and usually signifies positive results (Ysseldykey, 1998). This research seeks to find the factors influencing the effectiveness of entrepreneurship education by measuring education performance through satisfaction of education, and in doing so, it seeks to examine the types of influence education performance has on start-up efficacy.
The second variable to measure the effectiveness of entrepreneurship education is entrepreneurship intention. In order to vitalize entrepreneurship, individuals must decide to start new businesses, and entrepreneurship intention has been used as an important variable in measuring the effectiveness of entrepreneurship education as the individual’s entrepreneurship decision making and a precedence factor of action (Yoon Bang-seop, 2004; Krueger, 1993). In reviewing existing research on factors influencing the individual’s entrepreneurship intention, there are many that have analyzed the influence of psychological characteristics such as innovativeness, risk sensitivity, progressive spirit, locus of control, and problem-solving abilities, and such research conclude that these factors do influence entrepreneurship intention (Miller, 1993; Lee Jae-seok, 2015).
As the main variable of measuring the effectiveness of entrepreneurship education, ‘entrepreneurship intention’ has been frequently used, but there has also been an increasing interest recently in ‘ Entrepreneurial Self-efficacy’ as the main factor influencing the probability of entrepreneurship success. Consequently, this research also seeks to study the effectiveness of entrepreneurship education by adding Entrepreneurial Self-efficacy. Entrepreneurial Self-efficacy indicates the individual’s confidence in his or her degree of entrepreneurship ability—in other words, the self-efficacy of the individual. , Entrepreneurial Self-efficacy can be expressed as self-competence on entrepreneurship. It has to do with the individual’s confidence that they can do well as an entrepreneur. There has been research outcome that designate start-up efficacy as the factor that most positively influences entrepreneurship intention (Yoon Bang-seop, 2004; Jeong Dae-yong and Chae Yeon-hui, 2016). In a research on the influence of individual capabilities of Chinese youth entrepreneurs on entrepreneurial success, Zhao Jingjing (2016) has argued that it is important to recognize the importance of self-efficacy on entrepreneurship and to strengthen it in order to increase the success rate of start-ups.
In order to achieve the object of this research, the research has used a sample of 427 university students taking an entrepreneurship course at University Y. A survey was conducted through a questionnaire, and the factors influencing the effectiveness of entrepreneurship education were analyzed based on 413 valid survey results among the total of 427 questionnaires. The basic demographical characteristics of the research sample are as follows: in gender ratio, the percentages of males and females were similar (58.2% and 40.9% respectively), and most of the students were seniors at the university (47.4%). Majors of the students were evenly distributed, and most of the students did not have much exposure to entrepreneurship competitions or entrepreneurship education.
Characteristic of instructor and content of education of entrepreneurship education had an influence on the education performance and the intentions for entrepreneurship of the students of entrepreneurship education. In order to investigate the influence that these factors have on start-up efficacy, a structure equation modeling analysis was conducted.
The result of path analysis shows that the characteristic of instructor had a positive influence on education performance at .202 (p< .01), but it did not have any significant influence on entrepreneurship intention (p> .1). This means that the instructor’s possession of entrepreneurship qualification or more specialization had a positive influence on education performance. On the other side, the content of education had positive influences on both education performance and entrepreneurship intention, at .726 (p< .01) and .982 (p< .01) respectively. From this, it can be deduced that content of education had a strong positive influence on both education performance and education intention. However, the factor that influenced start-up efficacy was education performance more than intention for entrepreneurship (p> .1). The effect size was .686 (p< .01).
In examining these results, it can be seen that the most important factors for operating effective entrepreneurship education are the expertise of the instructor and the systematic and internally stable composition of the content of education.
In 2012, the Ministry of Education established entrepreneurship education centers in universities around Korea, as part of the LINC project and the implementation of creative economy vitalization policy. Along with this, the number of entrepreneurship courses has exponentially grown. There was a shortage of entrepreneurship instructors, and there was also an increase in demand for training experts of entrepreneurship education. Korea Institute of Startup & Entrepreneurship Development designated graduate schools of entrepreneurship in an effort to train experts of entrepreneurship education. Consequently, graduate schools of entrepreneurship with the objective of training entrepreneurship education experts and developing entrepreneurship education curriculum must contribute not only to training experts but also in establishing effective entrepreneurship education through active research on the content of education. Furthermore, entrepreneurship education institutions of universities that design and operate entrepreneurship education programs must thoroughly review not only the background of instructors such as their characteristics but also whether the course content has been appropriately designed to meet the educational objective.
This research has examined the influence of the characteristics of entrepreneurship instructors and contents of education on education performance, entrepreneurship intention, and start-up efficacy. The research sample was students in entrepreneurship courses during the 2016 spring semester in University Y located in Gangwon Province. However, since the research sample is limited to university students in one university, there is a limit in generalizing the research outcomes.
For future research, surveys need to be conducted at universities around Korea with courses in entrepreneurship, to compare if results are similar. Such future research will be able to provide more meaningful information in the operation of entrepreneurship education programs.