THE INFLUENCING ROLE OF SOCIAL CAPITAL ON THE ATTITUDE AND BEHAVIOUR OF STUDENTS TOWARDS ENTREPRENEURSHIP
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1.1 BACKGROUND OF STUDY
In recent times the practice and the growth of entrepreneurship has increased overtime in Nigeria; the practice is not only found on the street but also in most of tertiary institutions in Nigeria.
Entrepreneurial activity is usually seen as a kind of social process that is embedded in networks of interpersonal relationships; according to (McKeever, Anderson & Jack 2014; Stephan & Uhlaner 2010).
According to (Hampton, Cooper & McGowan 2009; Klyver 2007; Cruickshank & Rolland 2006; Davidsson & Honig2003) stated that these social network promote entrepreneurial activity simply by facilitating the efforts of most entrepreneurs starting new ventures and enhancing the performance of their venture.
It is evident in the works of (Cruickshank & Rolland 2006; Lin 2005), that social network are vital in building social capital and social capital is the outcome of social relationships that is created and maintained through social interactions.
Social capital is according De Carolis, Litzky & Eddleston (2009:530) “the goodwill and resources that is usually emanated from an individual network of social relationships. Information sharing among the members of the network, influence, solidarity benefits and relations to other actors are what constitutes social capital according to (Kwon & Adler 2014).
According to (Hampton et al. 2009; Newbert, Tornikoski & Quigley 2013) states that these social networks are vital throughout the various stages of the venture life-cycle and aid the entrepreneur social support and resources from pre-start up to a stage of stability of the venture.
Take the academic environment for instance; the influence of peer group on behavior of students is usually high. The academic environment is a site for social interactions and social networking among friends, group which might be study group.
The behavior of student towards entrepreneurship is a two ways things depending on the peer group; peer group with interest in entrepreneurship tend to influence others interest in entrepreneurship and vice versa.
Peer group among other form of social capital is regarded as the most pronounced form of social capital. Peer group is usually found in all institution ranging from primary to tertiary although the influence is noticeable in the tertiary institutions. It is to this regard that the researcher wishes to use federal university of Oye Ekiti students as the case study to examine the influencing role of social capital on the attitude and behavior of students towards entrepreneurship.
1.2 STATEMENT OF PROBLEM
What really instigated the study was the negative attitude of students towards entrepreneurship as a result of disunity among student in federal university of Oye Ekiti which resulted to poor social capital. It is evident that the major cause of disunity among the students is the effect of cultism and other social vices as a result there has been a poor social networking among students.
1.3 AIMS AND OBJECTIVES OF STUDY
The main aim of the research work is to examine the influencing role of social capital on the attitude and behavior of students towards entrepreneurship. Other specific objectives of the study include:
- To examine the effect of social capital on the attitude of student towards entrepreneurship
- To examine the role of peer group in the acceptance of entrepreneurship among students
- To investigate on other factors affecting the behavior of students towards entrepreneurship
- To proffer solution to above stated problems
1.4 RESEARCH QUESTIONS
The study came up with the following research questions in order to ascertain the above objectives. The specific research questions are stated below as follows:
- What is the effect of social capital on the attitude of student towards entrepreneurship?
- What are the roles of peer group in the acceptance of entrepreneurship among students?
- What are the factors affecting the behavior of students towards entrepreneurship?
1.5 RESEACH HYPOTHESIS
H0: there is no significant relationship between social capital and the behavior of students towards entrepreneurship
H1: there is significant relationship between social capital and the behavior of students towards entrepreneurship
1.6 SIGNIFICANCE OF STUDY
The study will be of immense benefit to students and management in federal university of Oye Ekiti, the study will also benefit the students in the influence of peer group and the importance of social capital. Finally the study will be of great benefit to other researchers that wishes to carryout similar research on the above topic.
1.7 SCOPE OF THE STUDY
The study influencing role of social capital on the attitude and behavior of students towards entrepreneurship is limited to federal university of Oye Ekiti
Adler, P.S. & Kwon, S. 2002. ‘Social capital: Prospects for a new concept’, Academy of Management Review, 27(1): 17–40. Ajzen, I. 2005. Attitudes, Personality and Behavior (2nd edition). Berkshire, England: Open University Press. Anderson, A.R. & Miller, C.J. 2003. ‘Class matters: Human and social capital in the entrepreneurial process’, Journal of Socio-Economics, 32: 17–36. Anderson, A., Park, J. & Jack, S. 2007. ‘Entrepreneurial social capital: Conceptualising social capital in new high-tech firms’, International Small Business Journal, 25(3): 245–272. Arenius, P. & Minniti, M. 2005. ‘Perceptual variables and nascent entrepreneurship’, Small Business Economics, 24: 233–247.