Risk Aversion and Entrepreneurial financing Behavior in presence of Self-Efficacy and Cultural Values


  • Huma Ali Lecturer, Institute of Banking and Finance, Bahauddin Zakariya University, Multan, Pakistan
  • Muhammad Shaukat Malik Director, Institute of Banking and Finance, Bahauddin Zakariya University, Multan, Pakistan
  • Muhammad Anees Anjum Ms. Scholar, Institute of Banking and Finance, Bahauddin Zakariya University, Multan, Pakistan




Risk aversion, Entrepreneurial Financing Behavior, Self-Efficacy, Cultural Values


Risk aversion is adopted as a valuable and workable access to understand the capitalist financing behaviour. Other variables also have been widely examined to check the results on entrepreneurial financing behavior. Yet, how risk aversion affects entrepreneurial financing behavior with mediating effect of self-efficacy and moderating effects of living style values. The basic aim of this paper to build the integrated model, based on mediating effect of self-efficacy to examine the straight and un-straight result of risk aversion on capitalist financing behavior. In last paper first author uses demographic analysis to study and underlying the mediating force of self-efficacy and moderating effects of cultural values. Then implement correlation and regression analysis to explore the relationship of the variables. In this struggle 371 survey responses gathered from business degree students to show the analysis. The mediating effect of self-efficacy is directly and positively linked with entrepreneurial financing behavior. There is a straight relationship and un-straight relationship of risk hatred and entrepreneurial financing behavior also exists through the mediation effect of self-efficacy. Doubling the value of this sample size can be selected from various educational backgrounds to enhance the significance of this survey. Risk aversion is directly acting upon the entrepreneurial financing behavior.


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How to Cite

Ali, H., Malik, M. S. ., & Anjum, M. A. . (2023). Risk Aversion and Entrepreneurial financing Behavior in presence of Self-Efficacy and Cultural Values. Review of Education, Administration & Law, 6(2), 129-138. https://doi.org/10.47067/real.v6i2.319