• Ida Ketut Kusumawijaya Universitas Triatma Mulya
  • Partiwi Dwi Astuti Universitas Warmadewa



entrepreneurial learning, entrepreneurial knowledge, human capital, entrepreneurial intention


This study examines the effect of entrepreneurial learning on entrepreneurial intention through entrepreneurial knowledge and human capital during the COVID-19 pandemic. The population of this study were 7,246 students majoring in business from Bali's universities. The sample size was 379 with the Slovin method. The link to the online survey was sent to respondents via email. Two hundred seventy-nine questionnaires were returned and confirmed valid, with a usable response rate of 73.61%. The results were analyzed using WarpPLS 7.0. The study resulted that entrepreneurial learning influenced knowledge, human capital, and intention. Entrepreneurial knowledge did not affect entrepreneurial intention, and human capital affected entrepreneurial intention. This study also found that entrepreneurial knowledge had almost no mediating effect between entrepreneurial learning and entrepreneurial intention, and human capital succeeded in being a partial mediator on the influence of entrepreneurial learning on entrepreneurial intention. Moreover, this study contributes to the understanding and is useful for scholars, academics, and practitioners in the field of entrepreneurship to create a broader view of the relationship between entrepreneurial learning, entrepreneurial knowledge, human capital, and entrepreneurial intention and mediation mechanism that occurs in the model for the conceptual generalization and entrepreneurial practices purposes.


Aboobaker, N. and D. Renjini. 2020. Human Capital and Entrepreneurial Intentions: Do Entrepreneurship Education and Training Provided by Universities Add Value? On the Horizon 28(2): 73–83.

Ajzen, I. 1991. Theory of Planned Behaviour. Organizational Behavior and Human Decision Processes 50: 179–211.

Audretsch, D. B., M. Belitski, R. Caiazza, and E. E. Lehmann. 2020. Knowledge Management and Entrepreneurship. International Entrepreneurship and Management Journal 16(March): 373–385.

Bandura, A. 1999. Social Cognitive Theory: An Agentic Albert Bandura. Asian Journal of Social Psychology 2(1): 21–41.

BarNir, A., W. E. Watson, and H. M. Hutchins. 2011. Mediation and Moderated Mediation in the Relationship Among Role Models, Self-Efficacy, Entrepreneurial Career Intention, and Gender. Journal of Applied Social Psychology 41(2): 270–297.

Baron, R. M. and D. A. Kenny. 1986. The Moderator-Mediator Variable Distinction in Social Psychological Research. Conceptual, Strategic, and Statistical Considerations. Journal of Personality and Social Psychology 51(6): 1173–1182.

Beliaeva, T., A. Laskovaia, and G. Shirokova. 2017. Entrepreneurial Learning and Entrepreneurial Intentions: A Cross-Cultural Study of University Students. European Journal of International Management 11(5): 606–632.

Chen, Y., and Y. He. 2011. The Impact of Strong Ties on Entrepreneurial Intention: An Empirical Study Based on the Mediating Role of Self-Efficacy. Journal of Chinese Entrepreneurship 3(2): 147–158.

Chen, C. C., P. G. Greene, and A. Crick. 1998. Does Entrepreneurial Self-Efficacy Distinguish Entrepreneurs from Managers? Journal of Business Venturing 13(4): 295-316.

Chin, W. W. 1998. Commentary: Issues and Opinions on Structural Equation Modelling. MIS Quarterly: Management Information Systems 22(1): vii–xvi.

Farani, A. Y., M. Motaghed, and S. Karimi. 2016. The Role of Entrepreneurial Knowledge and Skills in Developing Digital Entrepreneurial Intentions in Public Universities in Hamedan Province. Iranian Journal of Information Processing Management 31(3): 785-802. doi: 10.35050/JIPM010.2016.016.

Farrukh, M., Y. Alzubi, I. A. Shahzad, A. Waheed, and N. Kanwal. 2018. Entrepreneurial Intentions: The Role of Personality Traits in Perspective of the Theory of Planned Behaviour. Asia Pacific Journal of Innovation and Entrepreneurship 12(3): 339–414.

Ferreira, J. J., M. L. Raposo, R. G. Rodrigues, A. Dinis, and A. do. Paco. 2012. A Model of Entrepreneurial Intention an Application of the Psychological and Behavioural Approaches. Journal of Small Business and Enterprise Development 19(3): 424–440.

Fishbein, M. and I. Ajzen. 1975. Belief, Attitude, Intention, and Behavior: An Introduction to Theory and Research. Addison-Wesley Publishing Company Inc. Menlo Park, California.

Fishbein, M. and I. Ajzen. 2005. Theory-Based Behavior Change Interventions: Comments on Hobbis and Sutton. Journal of Health Psychology 10(1): 27–31.

Ganotakis, P., A. D’Angelo, and P. Konara. 2021. From Latent to Emergent Entrepreneurship: The Role of Human Capital in Entrepreneurial Founding Teams and the Effect of External Knowledge Spillovers for Technology Adoption. Technological Forecasting and Social Change 170(May): 120912.

Ha, J. C., J. W. Lee, and J. Y. Seong. 2021. Sustainable Competitive Advantage through Entrepreneurship, Market-Oriented Culture, and Trust. Sustainability (Switzerland) 13(7): 3986.

Hair, J. F. J., G. T. M. Hult, C. M. Ringle, and M. Sarstedt. 2017. A Primer on Partial Least Squares Structural Equation Modeling (PLS-SEM). Sage Publication, California, 390.

Haneberg, D. H. 2019. Entrepreneurial Learning as an Effectual Process. Learning Organization 26(6): 631–647.

Hassan, A., I. Anwar, I. Saleem, K. M. B. Islam, and S. A. Hussain. 2021. Individual Entrepreneurial Orientation, Entrepreneurship Education and Entrepreneurial Intention: The Mediating Role of Entrepreneurial Motivations. Industry and Higher Education 35(4): 403–418.

Henseler, J., C. M. Ringle, and R. R. Sinkovics. 2009. The Use of Partial Least Squares Path Modelling in International Marketing. Advances in International Marketing 20(January): 277–319.

Hisrich, R. D., M. P. Peters, and D. A. Shepherd. 2017. Entrepreneurship. 10th Ed. In McGraw-Hill Education.

Hongdiyanto, C., T. Teofilus, T. F. C. W. Sutrisno, and P. S. P. Dewanti. 2020. The Effect of Entrepreneurial Learning towards the Entrepreneurial Intention of Indonesian Women. Journal of Asian Finance, Economics and Business 7(9): 573–582.

Hou, F., Y. Su, M. Qi, J. Chen, and J. Tang. 2022. A Multilevel Model of Entrepreneurship Education and Entrepreneurial Intentions: Opportunity Recognition as a Mediator and Entrepreneurial Learning as a Moderator. Frontiers in Psychology 13(February).

Hussain, T., M. Zia-ur-Rehman, and S. Abbas. 2021. Role of Entrepreneurial Knowledge and Personal Attitude in Developing Entrepreneurial Intentions in Business Graduates : a Case of Pakistan. Journal of Global Entrepreneurship Research July: 1-11.

Jiang, J., J. Xu, X. Yin, and J. Hu. 2022. The Impact of Environment on College Students’ Entrepreneurial Intention Based on the Mediating Effect of Personality Traits. Frontiers in Psychology 13.

Jiatong, W., M. Murad, F. Bajun, M. S. Tufail, F. Mirza, and M. Rafiq. 2021. Impact of Entrepreneurial Education, Mindset, and Creativity on Entrepreneurial Intention: Mediating Role of Entrepreneurial Self-Efficacy. Frontiers in Psychology 12(August): 724440.

Jimenez-Jimenez, D., and R. Sanz-Valle. 2020. Studying the relationships among human capital, technological capabilities, and innovation in Spanish manufacturing firms. International Journal of Technology Management 82(3–4): 227–243.

Kaldeen, M. and S. S. Nawaz. 2020. Impact of Human Capital Capabilities on Knowledge Management Process. International Journal of Psychosocial Rehabilitation 24(07): 463–478.

Kock, N. 2020. WarpPLS User Manual Version 7.0. ScriptWarp Systems, p. 141.

Kong, H. and H. Kim. 2022. Does National Gender Equality Matter? Gender Difference in the Relationship between Entrepreneurial Human Capital and Entrepreneurial Intention. Sustainability (Switzerland) 14(928): 1–14.

Kouthouris, C. and A. Spontis. 2005. Outdoor Recreation Participation: an Application of the Theory of Planned Behavior. The Sport Journal: 1–9.

Krueger, N. F., M. D. Reilly, and A. L. Carsrud. 2000. Competing Models of Entrepreneurial Intentions. Journal of Business Venturing 15: 411–432.

Kumar, R. and S. Shukla. 2019. Creativity, Proactive Personality and Entrepreneurial Intentions: Examining the Mediating Role of Entrepreneurial Self-efficacy. Global Business Review 23(1): 1–18.

Kusumawijaya, I. K. and P. D. Astuti. 2021. The Mediating Role of Entrepreneurial Competencies: Influence of Personality Traits on Entrepreneurial Intention. Problems and Perspectives in Management 19(3): 211–220.

Lepak, D. P. and S. A. Snell. 2002. Examining the Human Resource Architecture: The Relationships among Human Capital, Employment, and Human Resource Configurations. Journal of Management 28(4): 517–543.

Li, H. and J. Tang. 2017. Technological Human Capital, Firm Innovativeness, and Entrepreneurial Success: The Moderating Role of Seeking and Receiving External Funding. World Review of Entrepreneurship, Management and Sustainable Development 13(1): 106–119.

Loi, M. 2017. Dynamics of Entrepreneurship Education: How Human and Social Capital Interacts with Learning. Global Entrepreneurship and New Venture Creation in the Sharing Economy: 37–53.

Lv, Y., Y. Chen, Y. Sha, J. Wang, L. An, T. Chen, X. Huang, Y. Huang, and L. Huang. 2021. How Entrepreneurship Education at Universities Influences Entrepreneurial Intention: Mediating Effect Based on Entrepreneurial Competence. Frontiers in Psychology 12(July): 1–12.

Mamun, A. Al, S. A. Fazal, and R. Muniady. 2019. Entrepreneurial Knowledge, Skills, Competencies and Performance. a Study of Micro-Enterprises in Kelantan, Malaysia. Asia Pacific Journal of Innovation and Entrepreneurship 13(1): 29–48.

Marin, A. and A. Chitimiea. 2020. Entrepreneurial Knowledge and Digital Competencies - Keys for a Success of Students Entrepreneurship. Sciendo 30(2): 57–69.

Melchor-Duran, I. L., S. Y. Pinzon-Castro, and I. Placencia-Lopez. 2020. The Influence of Entrepreneurial Education on Entrepreneurial Intention and the Mediating Effect of Entrepreneurial Skills. Revista Espacios 41(30): 62–71.

Ministry of Education and Culture, of Republik Indonesia. 2023. PDDikti Kemendikbud - Higher Education Database, Ministry of Education and Culture of the Republic of Indonesia, 2023, Student Data, Retrieved 28 April 2023.

Miranda, F. J., A. Chamorro-Mera, and S. Rubio. 2017. Academic entrepreneurship in Spanish universities: an analysis of the determinants of entrepreneurial intention. European Research on Management and Business Economics 23(2): 113–122.

Mirea, N., D. Fatol, and C. F. Bogdea. 2021. A Study on Human Capital as a New Factor of Production in Reshaping the Entrepreneurial Education. 11th International Conference on Information Science and Information Literacy: 247–260.

Moortel, K. De, T. Crispeels, J. Xie, and Q. Jing. 2021. Do Interpersonal Networks Mediate the Relationship Between International Academic Mobility and Entrepreneurial Knowledge? Minerva: 1-27.

Munjal, S. and S. Kundu, S. 2017. Exploring the Connection between Human Capital and Innovation in the Globalising World. Human Capital and Innovation: Examining the Role of Globalization: 1-11.

Murad, M., C. Li, H. Javed, S. F. Firdousi, and S. A. Gill. 2019. Impact of Entrepreneurial Education, Motivation on Entrepreneurial Career Intention: Mediated By Entrepreneurial Attitude. Journal of Management Sciences and Business Research 10: 45–56.

Mutamba, C. 2016. An Exploration and Critique of the Use of Human Capital Theory in Human Resource Development Research. AHRD Conference in the Americas, February 1–18. RELT (Research, Education, Learning, Technology).

Nabi, G., A. Walmsley, F. Liñán, I. Akhtar, and C. Neame. 2018. Does Entrepreneurship Education in the First Year of Higher Education Develop Entrepreneurial Intentions? The Role of Learning and Inspiration. Studies in Higher Education 43(3): 452–467.

Nasip, S., S. R. Amirul, S. L. Sondoh, and G. H. Tanakinja. 2017. Psychological Characteristics and Entrepreneurial Intention: A Study among University Students in North Borneo, Malaysia. Education + Training 59(7/8): 825–840.

Ngah, R. and K. Y. Wong. 2020. Linking Knowledge Management to Competitive Strategies of Knowledge-Based SMEs. Bottom Line 33(1): 42–59.

Okun, M. A. and E. S. Sloane. 2002. Application of Planned Behaviour Theory to Predicting Volunteer Enrollment by College Students in a Campus-Based Program. Social Behavior and Personality 30(3): 243–249.

Park, C. 2017. A Study on the Effect of Entrepreneurship on Entrepreneurial Intention. Asia Pacific Journal of Innovation and Entrepreneurship 11(2): 159–170.

Passaro, R., I. Quinto, and A. Thomas. 2018. The Impact of Higher Education on Entrepreneurial Intention and Human Capital. Journal of Intellectual Capital 19(1): 1469–1930.

Peterson, A. and A. Wu. 2021. Entrepreneurial Learning and Strategic Foresight. Strategic Management Journal 42(13): 2357–2388.

Politis, D. and J. Gabrielsson. 2015. Modes of Learning and Entrepreneurial Knowledge. International Journal of Innovation and Learning 18(1): 101–122.

Popescu, C. C., I. Bostan, I. Robu, A. Maxim, and L. D. Maxim. 2016. An Analysis of the Determinants of Entrepreneurial Intentions among Students : A Romanian Case Study. Sustainability 8(771): 1–23.

Prabhu, V. P., S. J. McGuire, E. A. Drost, and K. K. Kwong. 2012. Proactive Personality and Entrepreneurial Intent: is Entrepreneurial Self-Efficacy a Mediator or Moderator? International Journal of Entrepreneurial Behaviour and Research 18(5): 559–586.

Preacher, K. J. and A. F. Hayes. 2004. SPSS and SAS Procedures for Estimating Indirect Effects in Simple Mediation Models. Behaviour Research Methods, Instruments, & Computers 36(4): 717–731.

Queiró, F. 2021. Entrepreneurial Human Capital and Firm Dynamics. The Review of Economic Studies 89(4): 2061-2100.

Roxas, B. 2014. Effects of Entrepreneurial Knowledge on Entrepreneurial Intentions: a Longitudinal Study of Selected South-East Asian Business Students. Journal of Education and Work 27(4): 432–453.

Roxas, B. G., R. Cayoca-Panizales, and R. M. de. Jesus. 2008. Entrepreneurial Knowledge and its Effects on Entrepreneurial Intentions: Development of a Conceptual Framework. Asia-Pacific Social Science Review 8(2): 61–77.

Samo, A. and A. Mahar. 2017. Moderating Role of Entrepreneurial Learning on Antecedents of Entrepreneurial Intentions. International Journal of Advanced Research 5(5): 674–681.

Sanyal, S. and A. Al Mashami. 2018. The Entrepreneurial Intention of University Students in the Sultanate of Oman – a Study of Dhofar University. Journal of Contemporary Trends in Business and Information Technology 5(1): 16–31.

Seet, P.-S., J. Jones, L. Oppelaar, and G. Corral De Zubielqui. 2018. Enhancing Human Capital with Social Capital via Entrepreneurial Learning in a Start-up Accelerator. Academy of Management Proceedings 2018(1): 12722.

Shan, B. and X. Lu. 2020. Founder's Social Ties, Learning and Entrepreneurial Knowledge Acquisition in China. Asia Pacific Business Review 26(2): 209–229.

Si Xue, C. T. 2017. An Examination and Critique of the Use of Knowledge Management in Achieving and Sustaining Competitive Advantage in Business. Research in Business and Management 4(1): 14.

Souitaris, V., S. Zerbinati, and A. Al-Laham. 2007. Do Entrepreneurship Programmes Raise the Entrepreneurial Intention of Science and Engineering Students? the Effect of Learning, Inspiration and Resources. Journal of Business Venturing 22(4): 566–591.

Souto, J. E. and A. Rodríguez-López. 2021. Entrepreneurial Learning in an Experiential and Competences Training Context: a Business Plan in Bachelor Thesis. International Journal of Management Education 19(3): 1–31.

Sušanj, Z., A. Jakopec, and I. Miljković Krečar. 2015. Verify the Model of Predicting Entrepreneurial Intention Among Students of Business and Non-Business Orientation. Management: Journal of Contemporary Management Issues 20(2): 49–70.

Ullah, S., B. Khuram, and S. H. Aslam. 2013. Exploring Big-5 Personality Traits and Gender as Predictors of Entrepreneurs’ Cognitive Adaptability. Journal of Modelling in Management 12(1): 143-161.

Vuorio, A. M., K. Puumalainen, and K. Fellnhofer. 2017. Drivers of Entrepreneurial Intentions in Sustainable Entrepreneurship. International Journal of Entrepreneurial Behavior & Research 24(2): 359-381.

Westhead, P. and M. Z. Solesvik. 2016. Entrepreneurship Education and Entrepreneurial Intention: do Female Students Benefit? International Small Business Journal: Researching Entrepreneurship 34(8): 979–1003.

Woo, H. R. 2018. Personality Traits and Intrapreneurship: The Mediating Effect of Career Adaptability. Career Development International 23(2): 145-162.

Xiu-qing, P. and C. Li. 2013. The Relationship between Entrepreneurial Learning and Entrepreneurial Knowledge. International Conference on Management Science & Engineering: 1314–1319.

Yi, G. 2021. From Green Entrepreneurial Intentions to Green Entrepreneurial Behaviours: The Role of University Entrepreneurial Support and External Institutional Support. International Entrepreneurship and Management Journal 17(2): 963–979.

Yousaf, U., S. A. Ali, M. Ahmed, B. Usman, and I. Sameer. 2020. From Entrepreneurial Education to Entrepreneurial Intention: a Sequential Mediation of Self-Efficacy and Entrepreneurial Attitude. International Journal of Innovation Science 13(3): 364–380.

Zhang, F., L. Wei, H. Sun, and L. C. Tung. 2019. How Entrepreneurial Learning Impacts One's Intention towards Entrepreneurship: a Planned Behaviour Approach. Chinese Management Studies 13(1): 146–170.

Zhao, Y. 2020. Human Capital and Entrepreneurial Intention in Deprived Areas: A Case Study of Nottingham. Dissertation. Nottingham Trent University. England, pp. 1–385.

Zhou, G., M. Ruan, and X. Yang. 2015. Entrepreneurial Intention, Entrepreneurial Knowledge and Entrepreneurial Behavior of Female Students in Higher Vocational Colleges: An Interactive Perspective. International Conference on Social Science and Higher Education, Icsshe: 412–414.