Generation Z Behavioral Intentions towards Social Entrepreneurship

Abstract

This paper aims to explore the factors that contribute to Generation Z intention to act and become social entrepreneurs. Generation Z is the unit of analysis because they are the future largest contributors to a country's economy and workforce. Additionally, the generation is concerned with the world's sustainability, and this is evident in their purchasing behaviour that skew to sustainable products that also drives their social entrepreneurial goals. The guiding theory in this research is the theory of planned behaviour because it fits well with the objective of the study. The independent variables are social vision (SV), social innovativeness (INNO), social proactiveness (SP), risk-taking motive (RTM) and financial literacy (FL), while the dependent variable is social entrepreneurial intention (SEI). Using quantitative approach, data was collected using an online survey. The findings revealed that there are moderate to strong positive correlations between SV, SP, IN, RM, and FL with SEI. The correlations range from 0.586 to 0.724, with p-values less than 0.05, indicating statistically significant relationships. A value of R² = 0.610 indicates that 61% of the variability of the dependent variable average SEI is explained by the 5 independent variables (Social vision, Social proactiveness, Innovativeness, Risk motives and Financial Literacy). The adjusted R² value of 0.596 suggests that the model is still reasonably good at explaining the variance in the dependent variable after accounting for the number of predictors.

The Effect of Generation Z Participation and Financial Technology Innovation on Community Welfare and Sustainable Development in MSMEs in Indonesia

“…This group, with a penchant for sustainability and social entrepreneurship [7], shows high interest in innovative ventures [8]. Moreover, their acceptance of digital advancements, such as digital identity cards [9], aligns well with the growing Financial Technology (FinTech) sector [10]. Understanding Generation Z's risk perceptions and intentions regarding the use of FinTech is crucial to leveraging their potential to revolutionise MSME operations.…”