The Mediating Effect of Emotion on Entrepreneurship Education and Business Opportunity Recognition

  • Nor Hafiza Othman Universiti Kebangsaan Malaysia; Universiti Malaysia Kelantan
  • Norasmah Othman Universiti Kebangsaan Malaysia
Keywords: Entrepreneurship Education, Emotion, Opportunity Recognition, Mediator


The purpose of this study is to determine the effect of entrepreneurial emotion on relationship between entrepreneurship education and business opportunity recognition. Entrepreneurship process begins when an entrepreneur recognizes a business opportunity that involves various emotions throughout the process. Although various activities and entrepreneurship programs are carried out in universities, the involvements of students and graduates in business start-ups are still small. The main factor is the failure to leverage potential business opportunities, which in turn, leads to the stability of emotion’s reliance. A total of 152 of final year students participated in this study. The data were collected from questionnaires, and the hypotheses were tested using Partial Least Square - Structural Equation Modeling (PLS-SEM). The findings indicated that entrepreneurship education, emotion and opportunity recognition were significantly related. It was also found that entrepreneurial emotion partially mediated the relationship between entrepreneurship education and opportunity recognition. The findings have confirmed that although entrepreneurship education helps improve students’ capabilities to adapt to new environments, and recognizes the potential of business opportunities, a stable emotion is crucial throughout the entire entrepreneurship process.


Ahmed, T., Chandran, V. G. R., & Klobas, J. (2017). Specialized entrepreneurship education: Does it really matter? Fresh evidence from Pakistan. International Journal of Entrepreneurial Behavior & Research, 23(1), 4–19.

Ardichivili, A., Cardozo, R. N., & Ray, S. (2003). A theory of entrepreneurial opportunity identification and development. Journal of Business Venturing, 18(1), 105- 123.

Bakker, R. M., & Shepherd, D. A. (2017). Pull the plug or take the plunge: Multiple opportunities and the speed of venturing decisions in the Australian mining industry. Academy of Management Journal, 60(1), 130-155.

Bagheri, A., & Lope Pihie, Z. A. (2013). Role of University Entrepreneurship Programs in Developing Students’ Entrepreneurial Leadership Competencies: Perspectives From Malaysian Undergraduate Students. Journal of Education for Business, 88(1), 51-61.

Baron, R. A. (2008). The role of affect in the entrepreneurial process. Academy of Management Review, 33(2), 328-340.

Buang, N.A. (2002). Asas Keusahawanan. Shah Alam: Penerbit Fajar Bakti.

Cacciotti, G., Hayton, J.C., Mitchell, J.R., & Giazitzoglu, A., (2016). A reconceptualization of fear of failure in entrepreneurship. Journal of Business Venturing, 31(3), 302-325.

Cardon, M. S., Foo, M. D., Shepherd, D., & Wiklund, J. (2012). Exploring the heart: Entrepreneurial emotion is a hot topic. Entrepreneurship Theory and Practice, 36, 1–10.

Carver, C. S., & Scheier, M. F. (2000). Scaling back goals and realibration of the affect system are processes in normal adaptive self-regulation: understanding “response shift” phenomena. Social Science and Medicine, 50(1), 1715-1722.

Department of Statistics Malaysia (2017). Malaysia Labour Statistics. Retrieved from

Dumitrache, V., & Raileanu, S. M. (2014). The role of business education provided through lifelong learning in enhancing profesional competencies. Amfiteatru Economic Journal, 16(37), 874-884.

Echols, D. G. (2010). The relationship between post-secondary international business education and American expatriate managerial success. Research Report. University Of Phoenix Economic Planning Unit (EPU) (2010). Tenth Malaysia Plan 2011-2015. Retrieved from

Foo, M. D. (2011). Emotions and entrepreneurial opportunity evaluation. Entrepreneurship: Theory and Practice, 35(2), 375-393.

Gielnik, M. M., Frese, M., Graf, J. M., & Kampschulte, A. (2012). Creativity in the opportunity identification process and the moderating effect of diversity of information. Journal of Business Venturing, 27, 559–576.

Hair, J. F., Hult, G. T. M., Ringle, C. M., & Sarstedt, M. (2014). A Primer on Partial Least Squares Structural Equation Modeling (PLS-SEM) (4th Ed.). Thousand Oaks, CA: Sage.

Hair, J. F., Ringle, C.M., & Sarstedt, M. (2013). Partial least squares structural equation modeling: Rigorous applications, better results and higher acceptance. Long Range Planning, 46(1-2), 1-12.

Hindle, K., Klyver, K., & Jennings, D. F. (2009). An informed intent model: Incorporating human capital, social capital and gender variables into the theoretical model of entrepreneurial intentions. In Carsrud, A. L., & Brannback, M. (Eds), Understanding the Entrepreneurial Mind, (pp. 35-50). New York: Springer.

Imada, T., & Ellsworth, P.C. (2011). Pround americans and lucky Japanese: Cultural differences in appraisal and corresponding emotion. Emotion, 11(2), 329-345.

Ipate, D. M., & Parvu, I. (2014). Entrepreneurial education as a success factor for the Romanian SMEs. Economics, Management and Financial Markets, 4(1), 247-254.

Jiang, Z., & Wang, Z. (2014). Entrepreneurial intention and outcome expectancy: Evidence from South Korea and China. Contemporary Management Research, 10(3), 251-270.

Juhdi, N. H., & Juhdi, N. (2013). Entrepreneurial success from positive psychology view. In 4th International Conference on Business and Economic Research (pp. 285-295). Bandung, Indonesia.

Kollmann, T., Stockmann,C., & Kensbock, J. M. (2017). Fear of failure as a mediator of the relationship between obstacles and nascent entrepreneurial activity—An experimental approach. Journal of Business Venturing, 1-22.

Kuckertz, A., Kollmann, T., Krell, P., & Stockmann, C. (2017). Understanding, differentiating, and measuring opportunity recognition and opportunity exploitation. International Journal of Entrepreneurial Behavior & Research, 23(1), 78 – 97.

Kuratko, D. F., & Morris, M. H. (2017). Examining the Future Trajectory of Entrepreneurship. Journal of Small Business Management, 56(1), 12-19.

Lackeus, M. (2014). An emotion based approach to assessing entrepreneurial education. International Journal of Management Education, 12(3), 374-396.

Lackeus, M. (2015). Entrepreneurship in Education—What, Why, When, How. Retrieved from

Lerner, J. S., & Keltner, D. (2001). Fear, anger and risk. Journal of Personality and Social Psychology, 81(1), 146-159.

Linan, F., Nabi, G., & Krueger, N. (2013). British and Spanish entrepreneurial intentions: A comparative study. Revista de Economía Mundial, 33, 73-103.

Lumpkin, G. T., & Lichtenstein, B. B. (2005). The role of organizational learning in the opportunity recognition process. Entrepreneurship Theory and Practice, 29(4), 451-472.

Miceli, M., & Castelfranchi, C. (2014). Expectancy and Emotions. Oxford: Oxford University Press.

Ministry of Higher Education. (2016). Entrepreneurship Action Plan of Higher Learning Institutions 2016-2020. Putrajaya: Malaysia.

Mohd Nor Hakimin, Fakhrul Anwar & Mohamed Dahlan. (2015). Entrepreneurship education in Malaysia’s public institutions of higher learning—A review of the current practices. International Education Studies, 8(1), 17-28.

Ooi, Y. K., & Nasiru, A. (2015). Entrepreneurship education as a catalyst for business start-ups: A study on Malaysian community college students. Asian Social Science, 11(18), 350-363.

Othman, N., & Othman, S. H. (2017). The perception of public university students of entrepreneurship education in Malaysia. International Business Management, 11(4), 865-873.

Othman, N., Othman, N. H., & Ismail, R. (2012). Impact of globalization on trends in entrepreneurship education in higher education institutions. International Journal Trade, Economics and Finance, 3(4), 267-271.

Othman, N. H., Othman, N., & Juhdi, N. (2019). Determining the validity and reliability of entrepreneurial emotion. Academy of Entrepreneurship Journal, 25(3), 1-5.

Pless, N. M., Maak, T., & Stahl, G. (2011). Developing responsible global leaders through international service-learning Programs: The Ulysses experience. Academy of Management Learning and Education, 10(2), 237-260.

Podsakoff, P. M., MacKenzie, S. B., Lee, J. Y., & Podsakoff, N. P. (2003). Common Method Biases in Behavioral Research: A Critical Review of the Literature and Recommended Remedies. Journal of Applied Psychology, 88(5), 879–903.

Ramayah,T., Cheah, J., Chuah, F., Ting, H., & Memon, M.A. (2018). Partial Least Squares Structural Equation Modeling (PLS-SEM) using SmartPLS 3.0. Kuala Lumpur: Pearson Malaysia.

Reynolds, P. D. (2016). Start-up actions and outcomes: What entrepreneurs do to reach profitability? Foundations and Trends in Entrepreneurship, 12(6), 443-559.

Rungtusanatham, M., Miller, J. W., & Boyer, K. K. (2014). Theorizing , testing and concluding for mediation in SCM research: Tutorial and procedural recommendations. Journal of Operations Management, 32(3), 99-113.

Rusok, N. H. M., Kumar, N., & Ahmed, A. R. (2017). The effect of entrepreneurship education on entrepreneurial competencies. International Journal of Applied Business and Economic Research, 15(15), 433-455.

Sanchez, V. B., & Sahuquillo, C. A. (2018). Entrepreneurial intention among engineering students: The role of entrepreneurship education. European Research on Management and Business Economics, 24, 53–61.

Ilonen, S., Heinonen, J., & Stenholm, P. (2018). Identifying and understanding entrepreneurial decision-making logics in entrepreneurship education. International Journal of Entrepreneurial Behavior & Research, 24(1), 59-80.

Sarfraz, M., Badar, K., Khattak, A., & Imtiaz, R. (2018). Are entrepreneurship educators cultivating entrepreneurs? Analysis of transformational attributes. International Journal Business and Society, 9(2), 492-504.

Schmitt, A., Rosing, K., Zhang, S., & Leatherbee, M. (2017). A dynamic model of entrepreneurial uncertainty and business opportunity identification: exploration as a mediator and entrepreneurial self-efficacy as a moderator. Entrepreneurship Theory and Practice, 1(1), 1-25.

Sekaran, U., & Bougie, R. (2016). Research Methods for Business: A Skill Building Approach. United Kingdom: John Wiley & Sons.

Short, J. C., Ketchen, D. J., Shook, C. L., & Ireland, R. D. (2010). The concept of “opportunity”in entrepreneurship research: Past accomplishments and future challenges. Journal of Management, 36(1),40-65.

Unger, J. M., Rauch, A., Frese, M., & Rosenbusch, N. (2011). Human capital and entrepreneurial success: A meta-analytical review. Journal of Business Venturing, 26(1), 341 – 358.

Wah, N. C., Zawawi, D.,Yusof, R. N. R., & Sambasivan, M. (2018). The mediating effect of tacit knowledge sharing in predicting innovative behavior from trust. International Journal of Business and Society, 19(3), 937-954.

Welpe, I. M., Sporrle, M., Grichnik, D., Michl, T., & Audretsch, D. B. (2012). Emotions and opportunities: The interplay of opportunity evaluation, fear, joy, and anger as antecedent of entrepreneurial exploitation. Entrepreneurship Theory & Practice, 36(1), 69-96.

Werner, M. J., & DeSimone, L. R. (2011). Human Resource Development (6th Ed). Mason, OH: Cengage.

Zampetakis, L.A., Lerakis, M., Kafetsions, K., & Moustakis, V. (2016). Anticipated emotions towards new venture creation: A latent profile analysis of early stage career starters. International Journal of Management Education, 14(1), 28-38.

Zampetakis, L.A., Kafetsios, K., & Moustakis, V. (2017). Using emotional persuasion for changing attitudes towards entrepreneurship: An interpersonal perspective. Journal of Business Venturing Insights, 7(1), 50–54.

How to Cite
Nor Hafiza Othman, & Norasmah Othman. (2020). The Mediating Effect of Emotion on Entrepreneurship Education and Business Opportunity Recognition. International Journal of Business and Society, 21(3), 1479-1493.