PERCEIVED ACCESS TO FINANCE, SELF-EFFICACY, AND ATTITUDE ON STUDENT’S ENTREPRENEURIAL ABILITY AND INTENTION

This study aims to analyze the influence of perceived access to finance, self-efficacy, and attitude toward entrepreneurship directly on the entrepreneurial intention and indirectly through entrepreneurial ability. The subjects of this study are 190 respondents who are undergraduate students from various majors who had studied for at least one year at Pelita Harapan University. The study uses quantitative research by taking samples using a purposive sampling technique. Data analysis was performed by Partial Least Square-Structural Equation Modelling (PLS-SEM) using the software SmartPLS 3.2.9. The results of this study indicate that perceived access to finance, self-efficacy, and attitude toward entrepreneurship has a positive on entrepreneurial ability. Meanwhile perceived access to finance is not significant to entrepreneurial intention, however self-efficacy and attitude toward entrepreneurship have a positive influence on entrepreneurial intention. Furthermore, the study found that entrepreneurial ability mediates those influences towards entrepreneurial intention. The study showcases the important mediating effect of entrepreneurial ability towards entrepreneurial intention. This supports universities to build on more practical business capabilities of their students to encourage them to start businesses.


INTRODUCTION
As the largest archipelagic country in the world with a promising demographic profile, Indonesia has the potential to become a developed country.To support Indonesia to become a developed country, the number of entrepreneurs in Indonesia must continue to be increased because Indonesia's entrepreneurship ratio is still at 3.75%, whereas to become a developed country a minimum of 4% is required.A survey from the Ministry of Education, Culture, Research, and Technology (Kementerian Pendidikan, Kebudayaan, Riset dan Teknologi, 2022) also shows that Indonesia's entrepreneurial ratio is lower than other ASEAN countries, such as Singapore which has reached 8.7%, Malaysia at 4.7%, and Thailand at 4.2%.Novrizaldi (2021) shows that every year around 3.5 million young people enter the job market and the peak will occur in 2030.Unemployment has also reached 9 million people since the Covid-19 pandemic (Sugiarto, 2021).Therefore, it is necessary to increase employment and entrepreneurship development as a solution.The strategy that Indonesia can implement is to encourage the younger generation to have a mindset directed at creating new jobs.
The entrepreneurial intention of the younger generation has become a very popular research subject over the last three to four decades (Ndofirepi, 2020).Many of these studies focus on Ajzen's theory of planned behavior and external factors such as family environment, education, and peers.However, based on research from Fayolle and Liñán (2014), there are still few studies that discuss internal factors such as entrepreneurial abilities.Even though inadequate entrepreneurial skills are one of the causes of low student entrepreneurial intentions (Svotwa et al., 2022).
Entrepreneurial ability can be influenced by several factors.Research conducted by Svotwa et al., (2022), shows that the ability of young entrepreneurs in Botswana is influenced by three factors, such as self-efficacy, attitudes towards entrepreneurship, and perceived access to finance.Research by Wijangga and Sanjaya (2019) states that there is a significant influence between entrepreneurial self-efficacy and entrepreneurial intention in X University students in Surabaya.Wijangga and Sanjaya (2019) also shows that many unemployed people in Indonesia are university graduates.The reason is that most undergraduates are more focused on finding jobs than creating them.This phenomenon shows the low factor of attitude toward entrepreneurship.Another study conducted by Rusu and Roman (2020) shows that the younger generation who want to be entrepreneurs face financial constraints such as a lack of capital to start a new business.
A survey was conducted in January 2023 randomly among 30 Pelita Harapan University students from various majors.The results show that only 11 out of 30 students have the intention to open their own business after graduating from college.Then, 60% think that a career in an agency or company is more interesting than being a successful entrepreneur.When asked about "which factors hinder you the most from becoming an entrepreneur?".As a result, 53.3% said that they felt they did not have sufficient skills and knowledge to start a business.Then 30% said that they experienced difficulties in terms of venture capital and access to financial institutions, and another 16.7% said that a career as an entrepreneur did not interest them.Then the results of the Tracer Study Questionnaire conducted for alumni of Pelita Harapan University graduates in 2019-2022 show that only 15.64% of the 2019 graduate respondents chose to become entrepreneurs.Then, there was a slight increase in the 2020 graduate respondents, namely 17.13% choosing to become entrepreneurs.However, the latest data on 2021 graduate respondents shows a decline, namely only 10.94% of graduates who choose to become entrepreneurs.The results show that the entrepreneurial intention of Pelita Harapan University students has decreased which is influenced by factors of skills, knowledge, access to finance, and low interest in becoming entrepreneurs.
This research is intended to look for factors that directly influence the entrepreneurial intentions of Pelita Harapan University students.Then, look for factors that allow the growth of entrepreneurial abilities which then trigger the entrepreneurial intentions of Pelita Harapan University students.This study has several questions: Does perceived access to finance affect entrepreneurial ability?Does self-efficacy affect entrepreneurial ability?Does attitude towards entrepreneurship affect entrepreneurial ability?Does perceived access to finance affect entrepreneurial intention?Does self-efficacy affect entrepreneurial intention?Does attitude towards entrepreneurship affect entrepreneurial intention?Does the perceived access to finance affect entrepreneurial intention mediated by entrepreneurial ability?Does self-efficacy affect entrepreneurial intention mediated by entrepreneurial ability?Does attitude towards entrepreneurship affect entrepreneurial intention mediated by entrepreneurial ability?Does entrepreneurial ability affect entrepreneurial intention?

LITERATURE REVIEW
Entrepreneurship is stated as an important key to the development and economic growth of a country (Rasli et al., 2013).According to Brillyanes and Mohammad (2018), entrepreneurship is the ability to be creative and innovate to produce something new and different.Then, something that is produced is used as a competitive advantage to create opportunities and solve problems that customers have.Entrepreneurship refers to business and value creation, acting under uncertainty, innovation, and opportunity (Prince et al., 2021).
Intention is the most important factor to encourage an individual to be willing to become an entrepreneur (Utami, 2017).Entrepreneurship is formed when individuals have the intention to become entrepreneurs, entrepreneurial intentions are defined as an interest in being able to be involved in entrepreneurial activities (Ardiani & Putra, 2020).In short, entrepreneurial intentions are defined by Rasli et al. (2013) as thoughts that trigger individuals to create businesses.Broadly speaking, entrepreneurial intention is a belief recognized by an individual that he intends to create a new business and consciously plans to do so in the future (Thompson, 2009).
Entrepreneurial intention is the initial and determining element in carrying out entrepreneurial behavior (Liñán et al., 2011).In entrepreneurship, individuals can take action to develop new businesses or create new value (Kong et al., 2020).The level of the entrepreneurial intention of the same individual can vary depending on the person's condition at a certain time (Thompson, 2009).Someone chooses to become an entrepreneur when the total benefits they can get are greater than the benefits they might get from their best career (Pihie, 2009).
In starting a business, an individual must have the ability to entrepreneurship.This is because courage and self-confidence without including entrepreneurship skills often make entrepreneurs fail (Melyana et al., 2015).A basic understanding of entrepreneurship is needed before starting a business so that the business can run smoothly and be able to overcome existing problems (Hasibuan et al., 2021).Entrepreneurial ability is defined by Tambunan (2020) as the skills of an entrepreneur in creating, managing, and developing his business with various characteristics such as being creative, initiative, responsible, willing to take risks, and having long-term focus.Several special managerial skills are needed by entrepreneurs, namely creativity, risk control, learning ability, building relationships, and taking advantage of potential opportunities to achieve growth (Diabate et al., 2019).An entrepreneur must also have skills such as finance, sales, production, marketing, personnel, and product development (Gedik et al., 2015).Entrepreneurship is not just starting a business, it must be understood more broadly as solving problems, identifying opportunities, and creating value.The ability of the younger generation to become entrepreneurs is influenced by various factors that are considered a precursor to entrepreneurial abilities, such as perceived access to finance, selfefficacy, and attitude toward entrepreneurship (Svotwa et al., 2022).
Perceived access to finance is defined as an assessment of an individual's ability to find, access, and use business capital effectively (Luc, 2018).Another understanding is conveyed by Cahyani and Sari (2017), perceived access to finance is a thought about how a person obtains money and assets to create something that can increase wealth.
Perceived access to finance cannot be separated from the institutions that provide funding sources, including Bank Financial Institutions (LKB) and Non-Bank Financial Institutions (LKBB).The results of a study by Luthfi and Ashar (2016) show that Bank Rakyat Indonesia is a banking institution that is the choice of entrepreneurs in providing loan funds in the form of business capital through People's Business Credit (KUR).Most respondents prefer bank loans and family loans as alternative sources of capital, compared to borrowing from government institutions (Zakaria & Kaushal, 2017).Apart from loans, business capital can also be obtained from grants or personal funds (Mualifah & Prasetyoningrum, 2020).
According to Bandura's theory cited in Utami (2017), self-efficacy is an individual's belief that he has the skill to perform certain actions to achieve a result.Thus, self-efficacy does not refer to the skill itself, but to an individual's assessment of the skill (Nowiński & Haddoud, 2019).People who believe in their abilities and beliefs perform better (Fuller et al., 2018).Self-efficacy is needed to motivate workers to believe in their abilities to encourage optimal performance (Desiana, 2019).
Hackett and Betz introduced the concept of self-efficacy into the field of entrepreneurship and developed the concept of entrepreneurial self-efficacy as the level of confidence that entrepreneurs have in their ability to complete various entrepreneurial tasks (Luo et al., 2022).In this study, the meaning of self-efficacy in question is self-efficacy in entrepreneurship.Self-efficacy in entrepreneurship refers to the extent to which entrepreneurs believe in their ability to start a business, complete various tasks and responsibilities, and overcome various difficulties in achieving business success (Wei et al., 2020).
In entrepreneurship, attitudes toward behavior refer to attitudes toward entrepreneurship.Attitude toward entrepreneurship is defined as the difference between the perceived personal desire to be self-employed and organizationally employed.A high entrepreneurial attitude indicates that respondents are more supportive of entrepreneurship than organizational work (Souitaris et al., 2007).Lee and Won (in Zhang et al., 2022) argue that an attitude toward entrepreneurship is an attitude of accepting entrepreneurship, both positive and negative sides.Someone who has an attitude toward entrepreneurship will tend to react effectively in the face of business risks that will be faced (Sabella et al., 2022).Attitudes toward entrepreneurship reflect the extent to which individuals perceive entrepreneurial activity as a valuable and rewarding experience (Nowiński & Haddoud, 2019).
Based on the literature review, this study has the following research hypotheses (Figure 1):

RESEARCH METHOD
This research is a quantitative method, with the sampling technique used purposive sampling.The research data were obtained from 190 undergraduate students at Pelita Harapan University from various majors who have completed at least one year of education.The unit of analysis is a specific unit that is calculated in this study as individuals.All variables were measured using a 1 to 5-point Likert scale ranging from strongly disagree to strongly agree.Data collection was carried out using an online questionnaire via Google Forms.This study uses the PLS-SEM data analysis method through the SmartPLS 3.2.9software.Luc (2018) and modified according to the context of this study.The pre-test was carried out before distributing the questionnaires for this empirical study.The pre-test aims to test the instrument first to ensure that there are no problems and ambiguity with words or measurements so that the questionnaire questions are understood by respondents (Sekaran & Bougie, 2016).The pre-test of this research was conducted on 30 student respondents at Pelita Harapan University.The pre-test results indicated that no changes were required to be made to the questionnaire before final delivery.

Constructs
Table 1 presents the items used to measure the five constructs in the study.

RESULTS AND DISCUSSIONS Outer Model and Inner Model
Validity testing is a test aimed at assessing the validity and validity of a questionnaire (Ghozali, 2016).The validity test is divided into convergent validity tests and discriminant validity tests.The convergent validity test is seen based on the value of the loading factor and the Average Variance Extracted (AVE).Based on Table 2, all indicators have a loading factor value above 0.7 and an AVE value above 0.5.This value fulfills the rule of thumb, namely the loading factor value is higher than 0.7 (Hair et al., 2014) and the AVE value is higher than 0.5 (Ghozali 2021).Therefore, all indicators are declared valid so there is no need to delete existing indicators.Discriminant validity testing was seen based on the Fornell-Larcker and Heteroit-Monotrait Ratio of Correlation (HTMT) values.The results show in Table 3 that the value of each variable has a higher AVE square root value than the correlation value with other constructs (Wong, 2013).Based on Table 4, all variables have HTMT values below 0.90, so the rule of thumb was put forward by Hair et al. (2019).Thus, the Fornell-Larcker and HTMT tests have fulfilled Wong's rule of thumb so that each variable can be said to be valid.Reliability testing is intended to ensure consistent measures, without bias (Sekaran & Bougie, 2016).Reliability testing can be analyzed through Cronbach's alpha and composite reliability values.Based on the result in Table 5, Cronbach's alpha and composite reliability are all above 0.70.This value fulfills the rule of thumb minimum Cronbach's alpha value of 0.70 and the rule of thumb composite reliability value which is higher than 0.70 (Hair et al., 2014(Hair et al., , 2019)).Thus it can be concluded that all research variables are declared reliable.
Outer model loadings with the t-values of variables are shown in Figure 2.

Figure 2. Outer Research Model
The multicollinearity test is intended to assess whether or not the correlation between independent variables is detected in the regression model (Ghozali, 2016).The multicollinearity test can be analyzed through the Variance Inflation Factor (VIF) values in Table 6.From the table, it can be seen that all independent variables in the regression model have a VIF below 10.Therefore, it can be concluded that no multicollinearity was detected in this study.This conclusion is based on Ghozali (2016), a VIF value above or equal to 10, indicating the existence of multicollinearity so that the allowed VIF value is below 10.
Testing the coefficient of determination was conducted to see the model's ability to explain the dependent variable through the independent variables (Ghozali, 2016).Based on Table 7, it can be concluded that the entrepreneurship ability variable can be explained by the independent variables by 54%, and the remaining 46% is explained by other variables outside the research model.Then, the entrepreneurial intention variable can be explained by the independent variables of 82.8%, and the remaining 17.8% is explained by other variables outside the research model.Based on Chin's theory (Ghozali, 2021), the coefficient of determination on the entrepreneurial ability variable can be categorized as moderate, while the coefficient of determination on the entrepreneurial intention variable can be categorized as strong.

Hypothesis Analysis and Discussion
The research data were 190 respondents consisting of female respondents (56.32%) and male respondents (43.68%).In terms of age, respondents were dominated by ages 21-25 years (60.53%) and followed by respondents aged 16-20 years (39.47%).The largest number of respondents came from the Faculty of Economics and Business, majoring in Management (33.68%).Then, the next largest number of respondents came from the Faculty of Economics and Business, Accounting (12.11%),Faculty of Science and Technology (FaST) majoring in Civil Engineering (10%), and Faculty of Design (SoD) majoring in Visual Communication Design (DKV) (6.32%).Respondents were dominated by the 2019 class (53.16%), followed by the 2020 class (32.11%) and the 2021 class (14.73%).Perceived access to finance (PAF) has a positive and significant relationship with Entrepreneurial Ability (EA), as expected, and supports H1.Self-efficacy has a positive and significant relationship with Entrepreneurial Ability (EA), as expected, and supports H2.Attitude toward entrepreneurship has a positive and significant relationship with Entrepreneurial Ability (EA), as expected, and supports H3.Perceived access to finance (PAF) has no significant relationship with Entrepreneurial Intention (EI), not as expected, and does not support H4. Self-efficacy has a positive and significant relationship with Entrepreneurial Intention (EI), as expected, and supports H5.Attitude toward entrepreneurship has a positive and significant relationship with Entrepreneurial Intention (EI), as expected, and supports H6.
Perceived access to finance has a positive and significant relationship with Entrepreneurial Intention (EI) mediated by Entrepreneurial Ability (EA), as expected, and supports H7.Self-efficacy has a positive and significant relationship with Entrepreneurial Intention (EI) mediated by Entrepreneurial Ability (EA), as expected, and supports H8.Attitude Toward Entrepreneurship has a positive and significant relationship with Entrepreneurial Intention (EI) mediated by Entrepreneurial Ability (EA), as expected, and supports H9.Entrepreneurial Intention (EI) has a positive and significant relationship with Entrepreneurial Ability (EA), as expected, and supports H10.Outer model loadings with the tvalues of variables are shown in Figure 2.

CONCLUSION
The results of this study reinforce previous research from Svotwa et al. (2022), where there is a direct, positive, and significant relationship between perceived access to finance, selfefficacy, and attitude toward entrepreneurship to entrepreneurial ability, and entrepreneurial ability to entrepreneurial intention.These findings state that Pelita Harapan University students who have positively perceived access to finance, self-efficacy, and attitude towards entrepreneurship will tend to develop their entrepreneurial ability.Because these three variables affect the desire to learn entrepreneurship skills.
In addition to strengthening previous research, this research also adds related scientific studies.This study proves that entrepreneurial ability is a variable of providing a mediating effect on entrepreneurial intention.Entrepreneurial ability provides a full mediating effect on the relationship between perceived access to finance to entrepreneurial intention and provides a partial mediating effect on the relationship between self-efficacy and attitude toward entrepreneurship to entrepreneurial intention.These results contribute to adding to and filling the knowledge gap that is still minimal regarding entrepreneurial skills.
This research shows that students need to have an understanding of funding, confidence in their abilities, and a positive attitude toward entrepreneurship to foster entrepreneurial ability.Students who have high entrepreneurship ability will tend to intend to open a business.The entrepreneurial abilities of young individuals reflect an open mind to new ideas, are not discouraged by challenges and negative feedback, and are willing to take higher risks, these individuals will be more likely to have positive entrepreneurial intentions.However, this research provides new knowledge that self-confidence in one's abilities in managing a business and a positive attitude towards entrepreneurship alone can increase the intention in entrepreneurship.Therefore, the results of this study can then be implemented by Pelita Harapan University in various programs that can empower students' interest in entrepreneurship.
The limitations of this study are that the research sample is only limited to Pelita Harapan University undergraduate students, does not know the income of the respondents or family segmentation based on social class, and only examines the perceived factors of financial access, self-efficacy, entrepreneurial attitudes, and entrepreneurial skills on entrepreneurial intentions.while there are still other variables that are thought to have an influence but have not been tested.
Future research can examine students from other higher education levels such as Masters and students from other universities in Indonesia.In addition, future research is expected to be able to limit variations in faculties/study programs by adding criteria to purposive sampling, adding questionnaire questions regarding respondent income or family segmentation based on social class, and considering the use of other variables that are also related to entrepreneurial intentions, such as family support (Tentama & Paputungan, 2019), subjective norms, perceptions of behavior, and entrepreneurship education (Utami, 2017).
• H1: Perceived Access to Finance has a positive effect on Entrepreneurial Ability • H2: Self-Efficacy has a positive effect on Entrepreneurial Ability • H3: Attitude Toward Entrepreneurship has a positive effect on Entrepreneurial Ability • H4: Perceived Access to Finance has a positive effect on Entrepreneurial Intentions • H5: Self-Efficacy has a positive effect on Entrepreneurial Intentions • H6: Attitude Toward Entrepreneurship has a positive effect on Entrepreneurial Intentions • H7: Perceived Access to Finance has a positive effect on Entrepreneurial Intentions which is mediated by Entrepreneurial Ability • H8: Self-Efficacy has a positive effect on Entrepreneurial Intention mediated by Entrepreneurial Ability • H9: Attitude Toward Entrepreneurship has a positive effect on Entrepreneurial Intention which is mediated by Entrepreneurial Ability • H10: Entrepreneurial Ability has a positive effect on Entrepreneurial Intention

Figure 1 .
Figure 1.Research Model Proposed PAF1 If I start a business, I know how to make a financial plan.PAF2 If I start a business, I know how to use financial information to make business decisions.PAF3IfIstart a business, I know the sources of funding in Indonesia.PAF4 If I start a business, finding funds will be the biggest obstacle.PAF5IfI start a business, it will be difficult to find business investors.PAF6I can get information about business financing through social media.The questionnaire was divided into six main sections, such as demographic profiles of respondents, perceived access to finance, self-efficacy, attitude toward entrepreneurship, entrepreneurial ability, and entrepreneurial intention.Demographic characteristics include gender, age, faculty/study program, and class.The items used to measure the research construct were adapted fromSvotwa et al., (2022)and