The Development of the Entrepreneurial Spirit Index: An Application of the Entrepreneurial Cognition Approach

Entrepreneurship has been recognized as one of the crucial mechanisms for a nation’s sustainable economic development. is key engine that propels growth and employment opportunity creation. The purposes this study are: (1) to develop validate Thailand Entrepreneurial Spirit Index (THESI) in combination with multidimensional entrepreneurial cognition scales, by examining attitudes, motivations, ambitions individuals starting businesses; (2) investigate impacts multitude perception factors demographic on intent. Based 1,180 samples Thai population collected via telephone survey 2021, results tetrachoric correlation factor analysis showed THESI index can be formulated explained six variables: intent (b = 0.690), recognition 0.711), self-skill 0.935), networking 0.743), perceived ease doing business 0.470), fear failure –0.118). binary logistic regression revealed recognition, perception, networking, business, have significant effects Interestingly, females are 36.6% less likely than males declare Older adults over age 61 indicate significantly lower intent, at 76.8%, compared younger people 18 30 years old. amount formal education person possesses considerable negative impact their desire start business. group respondents holding above bachelor’s degree sample shows 22.0% or below. Our research among few pioneering efforts provide an improved idea how quantify unlikely, non-measurable concept: spirit. This novel will help national policymakers evaluate degrees entrepreneurship societal level. value relies upon applied simpler metrics portray issue related interpretation Doi: 10.28991/ESJ-2022-06-03-05 Full Text: PDF