Research of factors affecting the results of business startup of the graduate students in the business administration sector at the university of finance - Business administration
RESEARCH OF FACTORS AFFECTING THE RESULTS OF BUSINESS STARTUP OF THE GRADUATE
STUDENTS IN THE BUSINESS ADMINISTRATION SECTOR AT THE UNIVERSITY OF FINANCE -
BUSINESS ADMINISTRATION
1
Dao Van Tu*
ABSTRACT: Starting business of graduates in business administration tends to increase, but success
is modest. This research aims at identifying the factors affecting the business startup results of students
graduated in business administration from the University of Finance and Business Administration. Data
were collected from the investigation of 278 graduates who had started their business. The study uses
the Cronbach’s Alpha test method, EFA and linear multivariate regression. The research results show that
there are 5 factors influencing the business startup results of the alumni in business administration at The
University: The business idea; Spirituality, attitudes, qualities start up business; business startup knowledge,
Finance for start up business, Skills start up business. The implication of this research is that it contributes
to the improvement of the program, the training methods for business administration students, and public
sector policies to promote and improve the efficiency of business startups. students in general and students
in business administration in particular.
Key words: business startup; students; business administration; university finance and business administration.
1. INTRODUCTION
The fact is that the unemployment rate is high, even graduates of colleges, universities, subjects are
well trained also have a high unemployment rate, do not work properly trained. Starting business is one
of the best solutions for those who want to change their situation, find work freedom, create jobs for
themselves and work for them. others.
Students of Finance and Business Administration are not out of the above trend, more and more
students after graduation have chosen the way of starting a business or a business succession from their
family. The University of Finance - Business Administration is not a top-tier university so the capacity for
large workplaces is lower, so the percentage of students who graduate after starting their own business
create jobs for yourself is pretty much. The main purpose of starting a business is to earn a living. This
shows that the business startup of the students of the University of Finance - Business Administration is
beating with the “startup country”, having good life and potential for development.
In fact, it is not easy to start a business in general and start a student business in a successful environment
in Vietnam. According to statistics, the young business often fall easily in the early years, in which students
account for a high proportion. In a report released by the US Small Business Administration, 66 percent of
US startups could survive in two years, 44 percent could survive for four years. Another analysis shows
1
University of Finance and Business Administration.
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that failure rates account for 60% of the first five years, and some evidence suggests that this may be as
high as 80% in developing countries such as Vietnam. The main reason is the lack of capital (40%), lack of
knowledge about small and medium enterprise management (50%), lack of practical experience in business
environment (30%), In other words, a high percentage of young entrepreneurs and startups are looking to
the good fortune of establishing a business.
How do students of the University of Finance Business Administration after graduation have started
their business? Some of the most pressing questions for this issue are:
What is the current status of business startups of the University of Finance-Business Administration?
What factors affect the startup results of the alumni of the University of Finance-BusinessAdministration?
What measures should be taken to promote the business of the University of Finance and Business
Administration more and more effective; What solution to maintain and develop post-startup businesses?
To answer the above questions, study the factors affecting the startup results of students who have
graduated from the University of Finance-Business Administration to explore the factors of influence,
internal causes at the entrepreneur’s ability level and the startup environment. Based on the results of the
research, solutions and recommendations to stimulate and encourage the potential for startups of alumni
students and alumni will help managers make decisions. Be involved in training to improve the startup
potential as well as the mechanisms and policies and legal environment to develop the business of students,
alumni of Vietnam in general and the University of Finance business in particular, thereby contributing to
solving the problem of employment, unemployment for the socio-economic development of the country.
2. RESEARCH METHODOLOGY
The article uses the method of investigation, through the issuance of questionnaires; statistics, data
synthesis, analysis of survey data by SPSS statistical software;Asurvey of 300 alumni graduated in business
administration from the University of Finance - Business Administration (10 courses, graduated from 1999
to 2008) is the owner of the business.
2.1 Research model
Business startup is understood as an individual (alone or with others) taking advantage of the market
opportunity to create a new business. Starting a business is the opening up of a new business, self-
employment, self-employment.
Overview from previous studies has shown the factors that affect the startup of students, such as
Sexton (2001), Smith & Smith (2000) Indicates that personal identity is the main reason for a successful
individual to start a business; Management System International, 1990 points out the 10 factors to be
a successful entrepreneur: Opportunity, initiative, persistence, risk tolerance, commitment to work, goal
orientation, learn, plan and manage, communicate, confident and independent; Smilor (1997) argues that
enthusiasm is an important element of entrepreneurial startups; active, responsible, motivated starters will
stand up to fluctuations; According to Davidson (1991) and Vesper (1990), business skills and low-tech
skills can reduce the desire to start a business; According to Pennings (1982), financial resources play an
important role in increasing the rate of startups, only a small number of people have the capital to start a
business, while most have to raise outside capital when starting a business; The external environment is
considered to be one of the factors that influence the intention to start a business, as noted by Drucker (cited
by McQuaid, 2002). According to Gnyawali & Fogel (1994), there is a positive relationship between the
environmental factor and the success of the entrepreneur.
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In Vietnam, according to Nguyen Thi Yen (2011), business readiness, personal character and
entrepreneurial passion are the personal factors that influence the student’s business startup intention.
Besides, the factor of capital also contributes to the effect, however, the fact that the students after the
school had difficulty in mobilizing capital, dared not boldly capital to start a business is weak. Funding
factors have a profound effect on the mentality of business startup students; For female MBA students in
Ho Chi Minh City in the study of Hoang Thi Phuong Thao (2013), individual characteristics are the most
influential factor in the business startup’s intention. In addition, capital for startups, propulsion, family
support, traction motives, and family barriers also influence the mindset of business startup. On the basis of
inheriting models from these studies, Phan Anh Tu and Nguyen Thanh Son (2015) complement and expand
the empirical model by adding exploratory elements such as: key, family background, persistence, business
desirability, and state and local policy into the research model to determine whether and how these factors
affect the intention business startup of economics students have graduated.
From the above review, succession of previous studies suggests a model of research on the factors that
influence the startup results of business graduates in business administration at the University. Finance-
Business Administration consists of 6 factors, shown in Figure 1 below:
Spirituality,
attitudes, qualities
start up business
Business idea
Business start-
Finance for start
Business start-up
up results
up business
knowledge
Business startup
environment
Skills start up
business
Figure 1: The proposed research model
On the basis of the proposed model the variables and scales are defined as follows: Scales of the
research concepts in the Likert scale model scale from 1 to 5. The variables are defined detailed and detailed
description in Table 1 and Table 2 below:
Table 1: Dependent variable scale (results of business startup: RSB)
Encode
RSB1
RSB2
RSB3
RSB4
RSB5
RSB6
RSB7
RSB8
RSB9
The contents of the observation variable
My current business is very good
Business goals set at the start are achieved
Products of the business increasingly prestigious in the market
The revenue of my company is very stable and growing well
Competitive status is favorable for the company
My business ideas and business results are appreciated by society, friends and relatives
My business activities have benefited the society and employment of local people
Future business prospects are very good
I am very satisfied with the business and do not intend to change
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Table 2: Independent variables scale
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Encode
The contents of the observation variable
ISB1
ISB2
ISB3
ISB4
ISB5
I have a lot of business ideas
Start a successful business is because of good business ideas, new ideas
The ability to apply smart technology to business, business solutions
I always have the passion to explore new things, thinking new products
Always think and want to do what other people, other businesses have not done
Business idea
(ISB)
QASB1 I love the business and aspire to become an entrepreneur
QASB2 I have defined my business goals
QASB3 I always try, high determination in my business
QASB4 I dare to think and dare to deal with risk, not discouraged before failure
Spirituality,
a t t i t u d e s ,
qualities start
I see clearly and know how to capture business opportunities, investment; as well as the
risk of failure
QASB5
QASB6 I easily think of new products, new ideas to meet the needs of society
QASB7 I always see the relationship between immediate profit and sustainable development
up
business
(QASB)
I have the ability to adjust business direction to adapt to changing market (change
QASB8
product, change market tastes)
KSB1
KSB2
I have good knowledge of supply, demand, market and customer behavior studies
I have good knowledge of business planning, identify and analyze market opportunities
quickly, analyze the environment and strategic business direction
I have mastered the basic content of marketing such as 4Ps, promotion of consumption,
brand
I have good knowledge of human resource management in business
I have good knowledge of financial management, cost management, sales and
profitability; firmly grasp the methodology of financial analysis and evaluation of an
investment project
KSB3
KSB4
B u s i n e s s
s t a r t u p
k n o w l e d g e
(KSB)
KSB5
KSB6
KSB7
KSB8
KSB9
I have good knowledge of building and organizing startup groups
I have mastered the basic knowledge of business administration and the basic functions
of business administration
I understand the laws and policies of the State relating to business
I understand the requirements and principles of business ethics and corporate social
responsibility
I have the skills to forecast, analyze the business environment effectively (competitors,
customers, suppliers .., business conditions. legal, ...) identify, capture and analyze
market opportunities
SSB1
SSB2
SSB3
I have good skills in business planning
I have the skills to analyze and evaluate financial investment projects effectively
I have good communication skills and very good at negotiating business negotiation,
the ability to persuade partners
I have good skills in making decisions, I am determined
I have effective leadership and teamwork skills, organizational skills and work
assignments, and supervision of the performance of under-performing staff
Skills start up
business
SSB4
SSB5
SSB6
(SSB)
SSB7
FSB1
I know how to manage time reasonably
I have the capital to start the business
I have the ability to mobilize capital easily for start up business, mobilize from family,
from friends to start business
I easily borrowed money from banks to start a business
I have easy access to other sources of funding for startups (preferential loans from
support programs, government funds, other funds, etc.) for starting a business
FSB2
FSB3
FSB4
Finance
for start up
business (FSB)
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The economic environment (GDP, inflation, unemployment, etc.) creates many
favorable opportunities for my business idea
The financial policies that support the startup of the state have a positive effect on
starting a business among young people, including me
ESB1
ESB2
Mechanisms, laws, law enforcement activities of the State is very convenient for
starting my business
My business activities are heavily influenced by government policies and regulations
My business is successful thanks to the great contribution from the achievements
of science and technology of the economy (information technology, biology, new
materials)
ESB3
ESB4
ESB5
ESB6
ESB7
Ethnic culture has a very positive impact on my business
Activities in universities, research institutes, and startup businesses have been
instrumental in accelerating my startup
Business Startup Program in University; The promotion of startups (training, startup
contest ...) of organizations, the Government and the localities have been effective for
the past
B u s i n e s s
s t a r t u p
environment
(ESB)
ESB8
ESB9
My products / services are under great competitive pressure
ESB10 The input material has had a great impact on my decision
ESB11 My business is at high risk because of natural conditions (weather, climate ..)
2.2 Method of data collection
For the best regression analysis, according to Tabachnick and Fidell (1996), the sample size n> 8m +
50 (m is the independent variable in the model, not the number of questions); Also according to Aprimer, n>
104 + m. For the purpose of verifying the scale, the researchers did not give a specific number of samples
that needed to be given the ratio between the number of samples needed and the number of parameters to be
estimated. For factor analysis, the sample size will depend on the number of variables included in the factor
analysis. Hair suggests that the sample size is five times greater than the number of variables (number of
questions in the questionnaire). While Hoang and Chu (2008) claim that the ratio is 4 or 5. In this topic, there
are all 43 variables required to perform factor analysis, so the minimum number needed is 44 x 5 = 220.
To ensure the reliability of the survey, although the sample size requirement was only 220, the author
decided to use 300 direct questionnaires. The team conducted sample control throughout the survey to
ensure that the sample was representative
2.3 Data Analysis Methods
Quantitative analysis using statistical analysis tools with the help of SPSS software. Qualitative analysis
is used in combination to analyze information obtained from in-depth interviews, along with analytical,
computational and comparative methods to draw conclusions and conclusions for the research problem.
Data analysis process:
Step 1: Test Cronbach’s Alpha to determine the reliability of the scale, removing the unsuitable
variables.
Step 2: Exploratory Factor Analysis (EFA) to test the correlation between independent variables and
dependent variables.
Step 3: Analyze correlations to identify groups of observation variables, eliminating invalid variable
groups.
Step 4: Regression analysis to determine the fit of the model. Hypothesis testing to determine the
degree of influence of independent variables on dependent variables.
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3. RESEARCH RESULTS
Research using SPSS software to test, analyze and determine the factors affecting the startup results
of graduates in Business Administration at the University of Finance - Business Administration. With 278
survey questionnaire, after removing inappropriate votes. The results of the steps are as follows:
3.1 Verification of Scale Reliability (Cronbach’s alpha)
- Carrying out the reliability of the scale for the factors affecting the startup results of business
administration graduates at the University of Finance and Business Administration with 44 variable
components. as follows:
Table 3: Verification of the reliability of independent variables
(Item-Total Statistics)
Scale
Variance if
Corrected
Item-Total
Correlation
Cronbach’s
Alpha if Item
Deleted
0.805
Observed variables
Scale Mean if
Item Deleted Item Deleted
Reliability
ISB1
ISB2
ISB3
ISB4
15.13
9.795
0.734
Statistics ISB:
15.34
15.24
15.14
15.25
23.94
23.94
23.74
23.71
23.73
23.45
10.637
10.971
10.742
11.155
19.483
19.620
18.931
19.736
18.479
20.653
0.653
0.684
0.679
0.587
0.568
0.589
0.658
0.654
0.720
0.578
0.827
0.820
0.820
0.843
0.850
0.846
0.836
0.837
0.827
0.848
Cronbach’s
alpha= 0.854
ISB5
QASB1
QASB:
QASB3
QASB4
QASB5
QASB6
QASB7
QASB8
Cronbach’s
alpha = 0.860
(2nd time,
after removing
QASB2
23.66
22.72
22.90
22.73
22.52
19.604
27.791
29.056
28.254
29.933
29.175
28.995
28.859
28.004
28.446
29.258
28.227
28.934
28.159
13.844
13.761
13.279
15.001
0.638
0.751
0.623
0.736
0.697
0.626
0.729
0.736
0.751
0.727
0.676
0.717
0.682
0.791
0.751
0.754
0.876
0.633
0.839
0.874
0.890
0.876
0.881
0.889
0.877
0.876
0.876
0.879
0.887
0.881
0.886
0.870
0.853
0.852
0.806
0.897
variable)
KSB:
KSB1
KSB2
KSB3
Cronbach’s
alpha = 0.896
(2nd time, after KSB4
removing 2
variable KSB8,
KSB9)
KSB5
KSB6
KSB7
SSB1
SSB2
SSB3
22.89
22.50
22.67
SSB:
12.3741
12.4964
12.4388
12.4532
12.5540
12.1978
8.86
Cronbach’s
alpha = 0.898
(2nd time, after SSB4
removing SSB7
variable)
SSB5
SSB6
FSB:
FSB1
FSB2
FSB3
FSB4
Cronbach’s
8.88
alpha= 0.886
9.05
9.21
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ESB:
ESB2
ESB4
ESB5
ESB6
ESB7
ESB9
ESB10
ESB11
23.46
23.28
23.65
23.54
23.40
23.59
23.29
23.56
51.174
52.028
54.344
53.592
50.919
53.824
51.638
53.915
0.728
0.780
0.584
0.640
0.803
0.587
0.746
0.584
0.879
0.875
0.893
0.887
0.872
0.893
0.877
0.893
Cronbach’s
alpha = 0.899
(2nd time,
after removing
2 variable
ESB1,ESB3,
ESB8)
Source: Cronbach’s alpha test results, 2018 survey data
The results of the reliability analysis of the scale show that the reliability of the six factors from
0.854 to 0.899 is> 0.6, Satisfactory. All component variables are Corrected Item-Total Correlation > 0.3.
There are 4 factors that have to run the second test is QASB, KSB, SSB, ESB because of the inappropriate
component variables, must remove the research model, (the coefficient of correlation < 0.3). As such, the
research model has 37 variable components used for subsequent analyzes.
- Research on the reliability of the scale for the results of business startup, with the results of the two-
run shows that the results of the component variables are significant, after removing the component variable
RSB5 (Table 4)
Table 4: Verification of the reliability of the results of business startup scale (2nd time) Item -Total Statistics
Scale Mean if Item Scale Variance if Corrected
Item- Cronbach’s Alpha if
Observed variables
Deleted
Item Deleted
Total Correlation
Item Deleted
Reliability Statistics: Cronbach’s alpha = 0.865
RSB1
RSB2
RSB3
RSB4
RSB6
RSB7
RSB8
RSB9
27.73
27.90
27.63
27.55
27.47
27.55
27.62
27.60
24.205
24.921
23.699
25.064
24.936
25.526
23.631
23.879
0.620
0.497
0.625
0.639
0.627
0.571
0.683
0.677
0.848
0.863
0.847
0.846
0.847
0.853
0.840
0.841
Source: Cronbach’s alpha test results, 2018 survey data
The results of the second scale reliability analysis run, after removal of the RSB5 variable indicate a
reliability of 0.865> 0.6, satisfactory. All component variables are Corrected Item-Total Correlation > 0.3..
Thus scale RSB factors with the observation variables: RSB1, RSB2, RSB3, RSB4, RSB6, RSB7, RSB8,
RSB9 ensure reliability.
3.2 Factor Analysis (EFA)
- KMO testing
Table 5: KMO and Bartlett’s Test
KMO (Kaiser-Meyer-Olkin of Sampling Adequacy)
Approx. Chi-Square
0.816
6483.581
666
Df
Bartlett’s Test of Sphericity
Sig.
0.000
Source: KMO test results, 2018 survey data
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To perform exploratory factor analysis, the data obtained must meet the conditions of the KMO test
and Bartlett’s test. Bartlett’s Test used to test the hypothesis H0 is that the variables are not interrelated in
the whole, the overall correlation matrix is a unit matrix, the KMO coefficient used to determine whether
the sample size obtained is consistent with the factor analysis. According to Hoang Trong and Chu Nguyen
Mong Ngoc (2007) the value of Sig. of Bartlett’s Test less than 0.05 allows rejecting the H0 hypothesis and
0.5 <KMO <1 means that factor analysis is appropriate.
The test results give the KMO a value of 0.816 greater than 0.5 and Bartlett’s Test Sig is 0.000 less
than 0.05 showing 37 observations and is perfectly consistent with factor analysis.
- Matrix rotation factors:
The method chosen is the Varimax proceduce, which rotates the angles of the factors to minimize the
number of observations that have large coefficients at the same factor. Therefore, it will enhance the ability
to explain the factors. After rotation, the observations with the factor load factor less than 0.5 are removed
from the model. Only observations with a factor load factor greater than 0.5 are used to explain a factor.
The EFA Discovery Factor Analysis will retain observation variables with load factor greater than 0.5 and
arrange them into major groups.
The results of the exploratory factor analysis show the six factors affecting business startup results
factor. Six groups of factors were extracted that explained 63.499% of the variation in data.
To determine the number of factors in this study use two criteria:
- The Kaiser Criterion determines the number of factors extracted from the scale. The less important
factors are eliminated, leaving only significant factors by considering the value of the Eigenvalue, only
those with Eigenvalue greater than 1 are retained in the analysis model.
- Variance Explained Criteria: Factor analysis is appropriate if the total variance deviation is less than 50%.
With respect to the discovery factor analysis, the total variance of 63.499% is greater than 50% and the
eigenvalues of all factors are greater than 1, so using the factorial analysis is appropriate.
Table 6: EFA results for independent variables
Load factor
Observed variables
1
2
3
4
5
6
ESB7
ESB4
0.858
0.827
ESB10
ESB2
0.802
0.794
ESB6
0.723
ESB5
ESB9
0.687
0.676
0.668
ESB11
KSB1
KSB7
KSB3
KSB6
KSB4
KSB5
KSB2
QASB6
QASB8
0.797
0.767
0.766
0.760
0.739
0.702
0.687
0.814
0.742
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QASB4
QASB5
QASB7
QASB1
QASB3
SSB6
SSB1
SSB2
SSB4
SSB5
SSB3
ISB1
ISB3
ISB2
ISB4
ISB5
FSB3
FSB1
FSB2
FSB4
0.726
0.723
0.680
0.634
0.626
0.840
0.819
0.816
0.792
0.775
0.757
0.790
0.755
0.748
0.712
0.701
0.933
0.875
0.855
0.766
20.981%
Total Variance Explained: 63.499%
14.210%
9.761%
7.506%
5.913%
5.128%
Variance Explained
Source: EFA analysis results, 2018 survey data
After rotating the second factor, we see that the concentration of observations by factor is quite clear.
The results of the analysis show that all 37 observations produce six factors. That is:
+ Business startup environment: ESB2, ESB4, ESB5, ESB6, ESB7, ESB9, ESB10, ESB11
+ Business startup knowledge: KSB1, KSB2, KSB3, KSB4, KSB5, KSB6, KSB7
+ Spirituality, attitudes, qualities start up business: QASB1, QASB3, QASB4, QASB5, QASB6,
QASB7, QASB8
+ Skills start up business: SSB1, SSB2, SSB3, SSB4, SSB5, SSB6
+ Business ideas: ISB1, ISB2, ISB3, ISB4, ISB5
+ Finance for start up business: FSB1, FSB2, FSB3, FSB4
3.3 Correlation analysis
From the above results we have the following research hypotheses:
- H1: There is a relationship between the factor of QASB and the factor of RSB
- H2: There is a relationship between the factor of ISB and the factor of RSB
- H3: There is a relationship between the factor of KSB and the factor of RSB
- H4: There is a relationship between the factor of SSB and the factor of RSB
- H5: There is a relationship between the factor of FSB and the factor of RSB
- H6: There is a relationship between the factor of ESB and the factor of RSB
Correlation analysis helps to test the correlation between independent variables and dependent
variables before regression runs. The resulting correlated correlation between the variables representing
factors independent of variables represents the dependent factor (Table 7)
INTERNATIONAL CONFERENCE STARTUP AND INNOVATION NATION
Table 7: Correlation coefficients
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QASB
1
ISB
KSB
SSB
FSB
ESB
RSB
QASB
ISB
Pearson Correlation
0.453
0.000
0.406
0.000
0.457
0.000
0.009
0.877
-0.087
0.150
-0.224
0.000
0.110
0.066
0.015
0.804
0.008
0.898
0.081
0.178
0.000
0.997
0.102
0.090
0.198
0.001
-0.247
0.000
0.059
0.326
0.585
0.000
0.449
0.000
0.503
0.000
0.146
0.015
0.230
0.000
0.083
0.169
Sig. (2-tailed)
Pearson Correlation
0.453
0.000
0.406
0.000
0.009
0.877
0.110
0.066
0.000
0.997
0.585
0.000
1
Sig. (2-tailed)
Pearson Correlation
KSB
SSB
FSB
ESB
RSB
0.457
0.000
-0.087
0.150
0.015
0.804
0.102
0.090
0.449
0.000
1
Sig. (2-tailed)
Pearson Correlation
-0.224
0.000
0.008
0.898
0.198
0.001
0.503
0.000
1
Sig. (2-tailed)
Pearson Correlation
0.081
0.178
-0.247
0.000
0.146
0.015
1
Sig. (2-tailed)
Pearson Correlation
0.059
0.326
0.230
0.000
1
Sig. (2-tailed)
Pearson Correlation
0.083
0.169
1
Sig. (2-tailed)
**. Correlation is significant at the 0.01 level (2-tailed).
*. Correlation is significant at the 0.05 level (2-tailed).
Source: Correlation coefficient analysis, survey data 2018
From the above table, the ESB variable (sig = 0.169> 0.05) was not correlated with the dependent
variable RSB (r> 0, p <0.05). Thus, the model has five independent variables included in the regression
analysis.
3.3 Multivariate linear regression analysis
After performing correlation analysis, the next regression analysis was to determine the linear
relationship between QASB, ISB, KSB, SSB, and FSB with RSB dependent variables.
Table 8: Regression analysis
Model
Unstandardized Coefficients
S t a n d a r d i z e d P
Coefficients
VIF
B
Std. Error
.211
.048
.044
.039
(Constant)
QASB
ISB
KSB
SSB
.434
.348
.129
.264
.144
.096
.041
.362
.148
.336
.218
.167
.000
.004
.000
.000
.000
1.377
1.419
1.423
1.072
1.020
.029
.024
FSB
R squared is not standard: 0.517
R squared standard: 0.509
P(Anova): 0.000
Source: regression analysis, survey data 2018
a. Multi-collinear testing
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Multicollinearity is a phenomenon that occurs when independent variables are closely related. This
makes the squared R coefficients and the regression coefficients a bias. Whether polyhedral testing in the
model was conducted by considering the VIF coefficient. Here all the VIF coefficients of the independent
variables are less than 2. Thus, in the model there are no multipliers.
b. R-squared coefficient
The R-squared factor measures the fit of the model with the sense that the independent variables
explain how many% of the variance of the dependent variable. Here the R-squared was corrected at the
second regression result of 0.509 satisfactory. The independent variables explain 50.6% (> 50%) of the
variance of the dependent variable.
The regression equation has the form: Y = b + a1 X1 + a2X2 + a3 X3 + a4X4 + a5X5
In the equation:
Y: RSB
X1 : QASB
X2 : ISB
X3 : KSB
X4 : SSB
X5 : FSB
- Non-normalized regression models:
Y = 0.348 + 0.129 X1 + 0.264X2 + 0.144X3 + 0.096 X4 + 0.434 X5
- Standardized regression model:
Y = 0.362 X1 + 0.148X2 + 0.336X3 + 0.218 X4 + 0.167 X5
Results of ANOVA variance analysis for sig = 0.000 <0.05. Thus the multivariate regression model is
consistent with the surveyed data.
Regression models show that the two factors QASB and KSB have the strongest influence on the RSB
factor with the standardized beta of 0.362 and 0.336 (ie, for the QASB factor when evaluated an increase
of 1 point, the results of the will increase by 0.362 points, the same for other factors); Followed by SSB
factors (β = 0.218), FSB factor (β = 0.167) and finally ISB factor (β = 0.148). Thus, the hypotheses H1, H2,
H3, H4, H5 are accepted at a significance level of 5% (95% confidence).
4. CONCLUSIONS AND RECOMMENDATIONS
The research results show that there are 5 factors that have a positive impact on the result of business
startup of students who graduated in business administration from the University of Finance and Business
Administration, respectively. Impact from high to low include: The qualities, attitude, inspiration to start a
business; Business startup knowledge; Skills start up business; Finance for start up business; Business idea.
Based on the results of the study, a number of recommendations were made to promote business startups of
business administration students as follows:
- For students:
+ Change the awareness and the spirit of business: students in business management in particular and
students of the University of Finance - Business Administration in general after graduation can work in
enterprises or create a business self business owner - self-employment; The direction to create and master
business is the main direction in the future; Constantly fostering the determination and substance of the
business start (accept risk, accept the new, persevere, do not give up, always innovate, creative).
+ Improve knowledge and practice of business startup: Continuously accumulate knowledge and
INTERNATIONAL CONFERENCE STARTUP AND INNOVATION NATION
165
skills in starting a business, knowledge of business administration, especially practical knowledge about
business. Actively participate in the actual activities organized by The University, the practice activities,
practice; Actively participate in teamwork activities, develop business startup schemes, group discussions,
...; Actively participate in startup contests, exhibitions, conferences, fairs, exchanges, promotions and
startup incentives, TV startup programs.
+ Learning from practical experiences from the previous ones: Actively participate in real discussions
with leaders of enterprises organized by The University; Need to listen to the advice of those who have
started a successful business, the share of success, failure in starting their business.
- For universities:
+ Inspire and nurture the entrepreneurial spirit of the student. There should be consensus from perception to
action from top leaders to faculty, administrators and students. Lecturers, especially faculty members of the Faculty
of Business Administration in the process of teaching in the classroom need to “fire fire” in the spirit, thinking,
qualities start business for students throughout the university. This activity can be carried out during classroom
lectures through course discussion, or through illustrations, discussion situations, practical contacts, etc.
+ Continuously improve the training program in the direction of enhancing practicality in the
curriculum, enhancing the practical application in teaching. This can be done through the application of
methods such as business planning, student case work, practice hours, etc. Institutional reform is needed.
direction of learning combined with creative thinking; learning associated with practice; education, training
as desired, aspirations of students instead of training in a certain pattern. Regularly organize seminars,
business talks and business startups, creative startups.
+ Raise and explore the entrepreneurial qualities of students. The school needs to understand its
important role in stimulating, exploring and promoting the entrepreneurial qualities of students. College-
based training and business startup experiences that students gain in college have a positive impact on
students’ potential and maturity. The University-educated students not only aim to work as hired labor for
other businesses but also have entrepreneurial spirit and self-employment. This is reflected in the direction
for the teaching staff mentality often encourages students to start.
+ Improve the efficiency of the Center Contact with enterprises about the practice, practice, the
seminar on real money business, improve the essence of the seminar between students and business leaders.
graduates of The University have started a successful business; Establish and operate an effective business
incubator in the University, which provides students with entrepreneurial role models, real business startup
opportunities, and increased applicability. apply the theory to the actual work.
- For the State:
+ State agencies should have propaganda measures and policies aiming at changing the students’
thinking, beliefs, will and attitudes towards business and startup businesses. Helping students, families,
friends and the surrounding environment have a more active view of business and entrepreneurship; giving
psychological students the desire to pursue and follow the success examples; Provide emotional support
and encouragement to students, giving them the confidence to start a business.
+ Realization of policy guidelines for promoting startups for students; Effectively implement the
incentives (tax, capital, land, ...) for new business enterprises, small and medium enterprises, preferential
policies should be substantial, avoid the main case. Books can not reach the business.
+ Promote financial support for startup programs. Government and state agencies need to play their
part in calling on donors, successful entrepreneurs, banks, financial leasing companies, venture capital funds.
In addition, state agencies can also proactively set up financial institutions to support universities to create
HỘI THẢO KHOA HỌC QUỐC TẾ KHỞI NGHIỆP ĐỔI MỚI SÁNG TẠO QUỐC GIA
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business incubators on campus. Increase scale and organize more activities to promote the spirit and the will
to start a business. At the same time, we support universities in enhancing their entrepreneurial skills.
MAIN REFERENCES
Book:
[1] Management Systems International (1990). “Entrepreneurship training and strengthening entrepreneurial
performance”. Report submitted to the USAID
[2] Smilor W. R., (1997) “Entrepreneurship: Reflections on a subversive activity”
[3] Hair JF., Black WC., Babin BJ., (2006), Mulivariate Data Analysis, 6th edition, Upper Saddle River NJ,
Prentice Hall.
[4] Peter F. Drucker (2011), entrepreneurial spirit and innovation, publisher. National Economics, Hanoi.
[5] Hoang Trong, Chu Nguyen Mong Ngoc (2008), Analysis of research data with SPSS, Hong Duc Publishing
House.
Journals:
[6] Bui Huynh Tuan Duy, Dao Thi Xuan Duyen, Le Thi Lin, Nguyen Thu Hien (2011), Study on the influence
of individual personality factors on students’ potential for startup. Journal of Science and Technology
Development, Volume 14, Q3- 2011, Polytechnic University, VNU-HCM.
[7] Nguyen Quoc Nghi, Le Thi Dieu Hien, Mai Vo Ngoc Thanh, (2016) “Factors Affecting Intent to Start an
Entrepreneurial Business of Business School Students at City Colleges Can Tho “, Scientific Journal of Can
Tho University
[8] Nguyen Quang Hiep, Nguyen Thi Nha (2018), Theoretical background and research model of factors
influencing students’ intention to start a business, University of Finance - Business Administration, National
Business: Starting the Business of Economic- Business Administration in Vietnam and University of Finance
- Business Administration.
[9] Dao Thi Phuong Mai, (2018), Modeling Business Startup, University of Finance - Business Administration,
Proceedings of the National Scientific Conference: Starting the Business of Economic- BusinessAdministration
in Vietnam and University of Finance - Business Administration.
[10] Trinh Thi Nhuan, (2018), The Ecosystem of Startups in Vietnam: The Current Situation and Recommendations
for Completion, University of Finance - Business Administration, Proceedings of the National Scientific
Conference: Starting the Business of Economic- Business Administration in Vietnam and University of
Finance - Business Administration.
[11] Nguyen Thu Thuy, (2015), PhD thesis “Research on factors affecting the potential for business startups of
university students”
[12] Nguyen Thu Thuy and Nguyen Ngoc Huyen (2014), “Impact factors to the potential for startups of college
students, the Journal of Economics and Economics Development, July 2014
[13] Nguyen Thu Thuy and Nguyen Ngoc Huyen, (2013) “Promoting Potential start the business of students
through college education”, Journal of Economics and Development, 193 July 2013, pp. 108- 114.
[14] Phan Anh Tu, Giang Thi Cam Tien, (2015), “Research on Factors Affecting Intent to Start a Business: A
Case Study of Faculty of Economics and Business Administration, Can Tho University” Science of Can Tho
University
[15] Phan Anh Tu, Nguyen Thanh Son (2015), “Study of Factors Affecting Intent to Start a Business of Economics
Students Who Have Graduated in Can Tho City”, Journal of University Science Can Tho
[16] Hoang Thi Phuong Thao, Bui Thi Thanh Chi (2013), Intention to start a MBA student in Ho Chi Minh City,
Journal of Economic Development, 271, May 2013.
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