Fostering Sustainable Development Through Women’s Entrepreneurship: Psychosocial Factors and Attitudinal Mediation in Colombian Higher Education

Abstract

University female entrepreneurship has seen significant growth in Colombia in recent years. This study aimed to examine the psychosocial factors that determine the entrepreneurial intent of Colombian university women, specifically analyzing how entrepreneurial attitude mediates the relationship between these factors and the intent to engage in entrepreneurship using a structural equation modeling approach (SEM). A total of 409 university students from various higher education institutions in Colombia participated by completing an online survey. The results demonstrated that extrinsic motivation (β = 0.178 moderate intensity), family environment (β = 0.127 moderate intensity), innovation (β = 0.462 very intense), and intrinsic motivation (β = 0.117 low intensity) positively influence entrepreneurial attitude, which in turn has a significant positive effect on the intent to engage in entrepreneurship (β = 0.709 very intense). Furthermore, innovation, extrinsic motivation, family environment, and intrinsic motivation indirectly influence entrepreneurial intent through their impact on attitude. In conclusion, this study provides a deeper understanding of the psychosocial mechanisms that drive female entrepreneurship in the Colombian university context and lays the groundwork for the design of educational programs and public policies that enhance the talent and entrepreneurial aspirations of women in higher education.

1. Introduction

In the previous years, there has been an upsurge in the number of female-led initiatives both at international and local levels, which suggests a positive trend toward worldwide female university entrepreneurship [1,2]. Studies indicate that personality characteristics and an individual’s educational background in entrepreneurial activity are facilitators of entrepreneurship [3,4,5]. Also, the development of creative skills among students of universities is necessary to enhance the entrepreneurship potential among female graduates [6]. As for Colombia, this has been particularly noticeable in the educational environment where the practice of creating new businesses is viewed as a means to promote the independence and social status of women [7,8]. According to the report of the Global Entrepreneurship Monitor (GEM) for the year 2017, about 44.8% of women expressed interest in entrepreneurship, while 55.3% had potential offers. The research emphasized nascent female entrepreneurs (19.6%) and established women entrepreneurs (7.1%) as the most prominent features of the study. The most common businesses are established with assistance from experts (57.3%), and positive post-company welfare services (34.3%) are highly appreciated. Approximately one out of the three women starts a business because they have to, and these women often have a degree to thank for it. Most of these businesses are estimated to make more than COP 400,000 (69.7%) in a month and are commerce oriented (55.5%), and more than half do not employ staff in the beginning stage (49.9%) [1]. There has been a growing interest in studying the entrepreneurial intentions of female college students because it is not a secret that success at entrepreneurship appears to be the monopoly of men [2,9]. Among them, researchers focused on the so-called attitudes of ‘women entrepreneurs’, entrepreneurial motivation, and self-efficacy, which guided this population when predicting entrepreneurial intention [3,4,5,10,11,12]. Moreover, it has also been shown that their use of entrepreneurial techniques increases the intentions of starting a venture [13,14,15], whilst both social and individual factors remain relevant for business success [16,17,18].

1.1. Theoretical Framework and Relationships Between Variables

In particular, the psychosocial aspects of behavior are viewed through the lens of the theory of planned behavior (TPB) through entrepreneurial intentions and attitudes in their evaluation. This perspective suggests, for example, that a focus on difficult attitudes, subjective norms, and perceived constraints is effective in a cross-section [19]. Meta-analyses reveal cross-cultural differences in the impact of entrepreneurial universities on entrepreneurial attitudes and intentions, as contextual factors [20]. Recent studies suggest that both psychological capital [21] and personal characteristics [22] are important in attention to business mindset formation in women university students. Such additions to the TPB have led to greater explanatory power in this model, and many other antecedents can still be incorporated [21,22]. For instance, attitudes toward entrepreneurship, self-efficacy (belief in one’s own ability to perform given tasks), gender discrimination, and the wider contextual factor ecosystem relate to one’s engagement in the pursuits of entrepreneurship [23]. There are, however, gender differences in preferences that predict engagement in such factors [24]. In students, entrepreneurial training moderates some of these relationships, enhancing both the technical entrepreneurial capabilities and the self-confidence required [25]. An investigation like [26] has investigated the entrepreneurial intentions of female students in the UK and Pakistan through the theory of planned behavior and found that attitude and subjective norms are positively correlated with intention whereas behavioral control operationalization is not. Culture affects the relationship between constructs. Furthermore, expanded contextual assistance and access to networks would help bridge the gaps [27]. In the contexts of Latin America, social relationship factors have more strength to operate than institutional support [28].

1.2. Literature Review on Female University Entrepreneurship

Women entrepreneurs in the universities across the globe gradually emerge as an important issue because of their contributions to the advancement of students as well as to the social and economic development of societies. This emerging trend has its foundations in the increasing number of women venturing into creating business, specifically in developing countries, with entrepreneurship being viewed as a means of self-sufficiency and an enhancement of living standards [1,16].

It is noted in the previous literature that some influential factors regarding the behavioral intentions of a person as an entrepreneur include the individual’s personality characteristics and self-efficacy perception [5,29]. Here, in accordance with the goals of the theory of planned behavior (TPB), offensive aspects of an entrepreneur such as attitude toward entrepreneurship, subjective norms, as well as perceived behavioral control are most notably relevant in university ventures [20,30]. In the Latin American context, family environment and sociocultural factors are also included as the reasons that affect women’s decisions to become entrepreneurs [31]. The family role, as a network of social relationships and emotional support relations, positively makes young female university students have positive attitudes toward entrepreneurship. On the other hand, sociocultural factors are potentially a neutral zone with perceived support being either a facilitator or a barrier [27,32]. Moreover, both intrinsic and extrinsic motivation is regarded as one of the important factors influencing one’s attitude toward entrepreneurship. In this context, intrinsic motivation, which is attributed to the need for self-development and personal satisfaction, is of great importance at a university’s formative stage [33]. In contrast, elements of extrinsic motivations such as social status and financial success endorse this process by increasing the level of optimism associated with engaging in entrepreneurship [29,34]. Also central to female entrepreneurship is innovation as it encourages creativity and the spotting of business opportunities [35]. This suggests the emphasis on nurturing divergent thinking and problem-solving techniques as part of the university educational programs for the aim of improved student entrepreneurship.

In general, the above mentioned studies draw attention to the distinctiveness of female university-based entrepreneurship due to the interplay among individual, family and context-specific characteristics [36]. This integrative perspective calls for both policies and educational programs incorporating all these dimensions to create a fairer and more conducive environment for developing female entrepreneurship in higher education.

1.3. Research Objectives and Hypotheses

The primary objective is to determine the psychosocial factors that lead or affect the entrepreneurial intention of Colombian female university students. The analysis zooms in on how entrepreneurial attitudes mediate or explain the relationships between these psychosocial factors and entrepreneurial intentions. This approach is important considering the growing concern of female university entrepreneurship in developing economies [23,24].

The Research Model Includes a Few Constructs Such as:

• Motivation and competitive awards on more—extrinsic [11,37]
• Social network, family environment [27,32]
• Innovation and innovativeness [16,28]
• Motivation—intrinsic [29,34]
• Self-efficacy [38,39]
• Sociocultural environment [40,41]
• Entrepreneurs’ barriers [42,43]

Grounded in the Literature, the Following Hypotheses Are Posed:

H1: 

An entrepreneur’s attitude has a significant effect on enhancing the intent [44].

H2: 

The psychosocial aspects of an individual have a significant effect on her attitude toward entrepreneurship [26,38].

H3: 

The relationship between the two psychosocial factors and entrepreneurial intention is mediated by entrepreneurial attitude [40,42].

1.4. Significance of the Study

The area of the entrepreneurship study explains this phenomenon further, and ICT, as an entrepreneurial area, explains this thesis and the theory of economic development [7]. It is also seen as a helpful tool for women in creating and nurturing projects that help better their living conditions [8], and almost all young people who are unemployed or inexperienced [15] as well.

As for Colombia, the geography of interest in the sphere of entrepreneurship is also based both on the necessity and opportunity of endeavors (Figure 1) [45,46]. However, the potential of these university women has never been explored properly because of a gap in understanding the factors that contribute to their patriotic business intentions [47,48,49]. The specific causes include differences in gender’s biases toward the terms of the entrepreneurial self-efficacy as well as the barriers of management skills, provision of funds, and work–family conflict [38,40].

This study has merits for its novelty, social importance, and potential to inform specific measures aimed at boosting female entrepreneurship in the context of Colombian universities [50]. The findings will be valuable to universities as well as the government and organizations that seek to advance this burgeoning economic sector [32,35]. In addition, it will make essential contributions to the ‘definitional’ activities associated with policy and strategy development to advance women’s entrepreneurial talents and aspirations in post-secondary education through understanding the intricate interaction among individual and contextual factors in such situations [29,34,39,41,43].

2. Materials and Methods

2.1. Methodological Approach

This research is based on a quantitative approach, with the objective of systematically analyzing the psychosocial determinants that influence the entrepreneurial intention of university women in Colombia. This approach allows us to quantify the relationship between the study variables, specifically how entrepreneurial attitude acts as a mediator between these determinants and entrepreneurial intention. Special emphasis is placed on the entrepreneurial skills of women as an engine for the generation of job opportunities in the face of the restrictions of the traditional labor market and their contribution to the enrichment of the professional profile.

2.2. Research Design

This methodological choice is justified by the intention of observing and analyzing the variables at a specific moment in time without manipulating them. For this purpose, questionnaires will be used as the main data collection tool, making it possible to evaluate how different psychosocial factors affect the intention to undertake entrepreneurship among female university students. This design will facilitate the identification of correlational patterns and, potentially, causal relationships between the variables of interest.

2.3. Population and Sample

The study will be carried out with a sample of 409 female university students from various higher education institutions in Colombia, both public and private. The selection of the participants will be made using a non-probabilistic convenience sampling, covering different academic disciplines to ensure varied representativeness in terms of interests and professional approaches. The inclusion criteria are detailed in

Table 1. Justification of the research hypotheses.

Relationship	Author(s) and Year	Explanation
1. Attitude → Entrepreneurial Intention	Ajzen, I. (1991) [30]	Ajzen’s theory of planned behavior suggests that attitude toward behavior (in this case, entrepreneurship) significantly influences the intention to perform that behavior.
2. Barriers → Attitude	Shapero, A. y Sokol, L. (1982) [43]	They propose that perceptions of barriers can affect the desirability and feasibility of entrepreneurship, which in turn can influence attitude toward entrepreneurship.
3. Extrinsic Motivation → Attitude	Deci, E. L. y Ryan, R. M. (1985) [29]	In their self-determination theory, they suggest that extrinsic motivation can affect attitude toward various activities, including entrepreneurship, although its impact may be less sustainable than intrinsic motivation.
4. Family Environment → Attitude	Aldrich, H. y Cliff, J. E. (2003) [32]	They argue that family environment and inherited social capital can positively influence attitude toward entrepreneurship through role modeling and social support.
5. Innovation → Attitude	Schumpeter, J. A. (1934) [35]	They consider innovation as the heart of entrepreneurship and suggest that the ability to innovate positively influences attitude toward entrepreneurship.
6. Intrinsic Motivation → Attitude	Ryan, R. M. y Deci, E. L. (2000) [34]	They extend self-determination theory, arguing that intrinsic motivation, which is the motivation to engage in an activity for its inherent satisfaction, is positively related to proactive attitude toward that activity.
7. Self-efficacy → Attitude	Bandura, A. (1986) [39]	His theory of self-efficacy argues that beliefs in personal ability to perform behaviors necessary to produce specific outcomes influence attitude toward those behaviors.
8. Sociocultural Environment → Attitude	Hofstede, G. (1980) [41]	His research on cultural dimensions suggests that sociocultural environment and cultural values may affect attitudes toward entrepreneurship, with some cultures fostering these attitudes more than others.

, together with the sociodemographic characteristics of the sample.

2.4. Data Collection

The data were collected using a structured online questionnaire designed to measure the variables of interest of the study. Prior to participation, students were asked to read and sign an informed consent form, ensuring their understanding of the study and their willingness to participate freely and voluntarily. This questionnaire included closed-ended questions on psychosocial factors, entrepreneurial attitudes, and entrepreneurial intention, as well as sections designed to collect relevant demographic and educational information.

Data collection took place between January 2024 and March 2024, ensuring a sufficient timeframe to gather responses from a representative sample of 409 female university students from various higher education institutions in Colombia.

2.4.1. Instrument

The questionnaire used a five-point Likert scale, where 1 indicates “completely disagree” and 5 indicates “completely agree”. The questionnaire assesses both sociodemographic aspects and broad dimensions of female university entrepreneurship: family environment (5 items), sociocultural (2 items), intrinsic (3 items) and extrinsic motivation (3 items), attitude (4 items), innovation (4 items), self-efficacy (4 items), entrepreneurial intention (3 items), and barriers to female entrepreneurship (5 items). The questionnaire was validated by a panel of five specialists in related fields using Aiken’s V coefficient, resulting in a high level of agreement (coefficient of 0.79). In addition, a pilot test was conducted with 40 female university students, and the Cronbach’s alpha and omega coefficients indicated high reliability.

2.4.2. Sampling and Data Collection

A non-probabilistic convenience sampling method was chosen, utilizing contact networks that included university authorities, teaching coordinators, and students. Informed consent from the participants was obtained through virtual means.

2.5. Data Analysis

Preparation and Exploration of Data: Once collected, the data were meticulously reviewed to ensure their integrity and accuracy. This process included consolidating the data gathered through the online questionnaire and conducting a preliminary analysis to identify and correct any inconsistencies or missing values. This preparatory stage was crucial for ensuring the quality of the data before proceeding with more complex analyses.

Descriptive Analysis: Initially, descriptive statistics were applied to gain a general understanding of the characteristics of the sample and the study variables. This analysis included the calculation of measures of central tendency and dispersion, such as the mean, median, and standard deviation, among others, providing an overview of the collected data.

Reliability and Validity Assessment of Constructs: To evaluate the quality of the constructs measured in the study, two essential criteria were used: reliability and validity. Reliability was examined using Cronbach’s alpha coefficient and composite reliability (CR), both with threshold values above 0.7, indicating adequate internal consistency of the items in each construct. Convergent validity was verified by estimating the average variance extracted (AVE), with values above 0.5, ensuring that the items of a construct indeed measured the same concept. Discriminant validity was analyzed following the criterion outlined in [42], comparing the square root of the AVE of each construct with the correlations among constructs, to confirm that each construct is, in fact, distinct from the others.

Structural Equation Modeling (SEM): This advanced methodology was selected for its ability to handle multiple dependency relationships simultaneously and assess the causal structure among the study variables. SEM allowed us to test the research hypotheses by evaluating the direction and strength of the relationships among psychosocial determinants, attitudes, and entrepreneurial intentions.

Hypothesis Testing: The research hypotheses were tested using SEM, where SmartPLS V, 4.0 software was used to calculate the standardized path coefficients, providing evidence of the relationships between the variables. This analysis enabled the clear identification of significant relationships and their impacts on entrepreneurial intention, facilitating the interpretation of how psychosocial factors and entrepreneurial attitudes influence Colombian university women’s attitudes toward entrepreneurship.

3. Results

3.1. Descriptive Analysis

Table 2. Summary of sociodemographic information (n = 409).

		N	%
Type of University	Private	201	49.14
	Public	208	50.86
Currently working	No	67	16.38
	Occasionally	36	8.80
	Yes	306	74.82
Faculty	Law	32	7.82
	Education	78	19.07
	Business	249	60.88
	Engineering	45	11.00
	Other	5	1.22
Cycle of studies	V–VI	117	28.61
	VII–VIII	133	32.52
	IX–X	159	38.88
Age	≤22	145	35.45
	23–34	233	56.97
	>34	31	7.58

presents information about the university students, including where they studied, whether they worked, what they studied, in which academic cycle they were, and their age. Almost the same number of students attend private and public universities, indicating a variety of higher education options. Surprisingly, many students (approximately 75%) are already working, suggesting that many combine study with work. It is also noteworthy that most students are concentrated in the business faculty, highlighting a significant interest in business-related careers, while other areas such as engineering and other specialties have fewer students. This could indicate a preference for careers perceived to offer better job opportunities. Furthermore, students tend to be in the later stages of their studies, indicating that the sample includes many who are close to graduating. Most of the participants were between 23 and 34 years old, showing that higher education mainly attracted young people, although there was a small group over 34 years old, which may reflect individuals seeking to change careers or further their education later in life.

Table 3. Levels of female entrepreneurship by dimension.

Dimensions of Female Entrepreneurship	Under	Medium	High
Family environment	20%	50%	30%
Sociocultural environment	40%	50%	10%
Intrinsic motivation	30%	40%	30%
Attitude	15%	55%	30%
Innovation	20%	60%	20%
Self-efficacy	18%	40%	42%
Entrepreneurial intention	16%	34%	50%
Barriers to female entrepreneurship	28%	48%	24%

provides information on understanding how women engage in entrepreneurship is key to achieving equality in the business world. This study analyzed what female entrepreneurs think and feel about various important aspects of starting and running a business. It was found that family support is very important to them when making business decisions. Although many feel that they have this support, there are also many who do not feel it as strongly, showing that experiences can vary widely. On the other hand, the social and cultural environment does not seem to be as favorable for female entrepreneurs, with few of them feeling strong support in this respect. This raises questions about how culture affects business opportunities.

Personal motivations and attitudes toward entrepreneurship vary, indicating that each entrepreneur has her own level of interest and motivation. Innovation and self-confidence are seen as important, but many see themselves at a medium level in these areas. The intention to undertake entrepreneurship is high among many of the participants, which is a positive sign of the future of female entrepreneurship. However, barriers remain a problem, with many facing significant obstacles. The results highlight the diversity of experiences and needs of female entrepreneurs, suggesting that support policies and programs must be customized to effectively assist them, considering the different challenges they face.

Table 4. Quality tests of the constructs.

Constructs	Items	Media	DE	Factor Loadings	Cronbach’s Alpha	Composite Reliability	AVE
Family environment	ENT1	3.6	0.88	0.812	0.763	0.863	0.678
	ENT2	4	0.71	0.851
	ENT3	3.8	0.98	0.865
	ENT4	3.9	1.09	0.801
	ENT5	4.2	1.02	0.833
Sociocultural environment	ESOC1	4.2	0.55	0.809	0.838	0.892	0.673
	ESOC2	4.2	0.75	0.838
Intrinsic motivation	MINT1	4.6	0.59	0.792	0.838	0.891	0.673
	MINT2	3.2	0.85	0.860
	MINT3	3.5	0.57	0.789
Extrinsic motivation	EXTM1	0.6	0.07	0.905	0.878	0.975	0.943
	EXTM2	0.4	0.07	0.923
	EXTM3	0.3	0.07	0.942
Attitude	ACT1	3.6	1.02	0.871	0.847	0.907	0.856
	ACT2	3.9	0.59	0.898
	ACT3	3.6	1.1	0.856
	ACT4	4.7	1.1	0.907
Innovation	INNO1	3.5	0.55	0.819	0.881	0.918	0.737
	INNO2	4.3	0.67	0.875
	INNO3	4.6	0.68	0.884
	INNO4	3.5	1.08	0.855
Self-efficacy	AUT1	3.4	0.5	0.871	0.891	0.924	0.753
	AUT2	3.6	0.79	0.892
	AUT3	3.9	0.64	0.834
	AUT4	4.2	0.9	0.873
Entrepreneurship barriers	BEMP1	3.9	0.79	0.847	0.872	0.912	0.722
	BEMP2	3.7	0.73	0.838
	BEMP3	3.2	1.09	0.822
	BEMP4	4.6	0.88	0.891
	BEMP5	3.8	0.92	0.878
Entrepreneurial intention	IEMP1	3.8	0.93	0.850	0.896	0.928	0.879
	IEMP2	4.4	0.93	0.895
	IEMP3	4.6	0.83	0.880

shows that rigorous measures were applied to ensure the reliability and accuracy of the results. Researchers relied on key indicators, such as factor loadings, Cronbach’s alpha, composite reliability (CR), and average variance extracted (AVE), following the recommendations of authors such as [47,48,49]. Factor loadings, which indicate the strength of the relationship between each item and its construct, surpassed the recommended threshold of 0.50 by [47], ranging from 0.789 to 0.942 in this study, a sign of excellent item relevance. These values not only show a significant association but also the precision with which each item reflects its corresponding construct.

Regarding the internal consistency of the items used to assess each construct, both the Cronbach’s alpha and composite reliability exceeded 0.70, which is considered good according to [48]. This demonstrates that the study’s questions consistently evaluated the proposed constructs, ensuring that the results are reliable and valid. Finally, convergent validity, assessed using the AVE and recommended by [49] to be above 0.50, was met by all the constructs measured in the study. This confirms that the items are effectively measuring what they are intended to measure, providing a solid foundation to assert the validity of the measurements used.

These findings highlight the methodological robustness of the study, where the precision of measurements and the reliability of the results stand out. The rigorous application of statistical tests in evaluating reliability and validity ensures that the conclusions derived from this study are well founded and significantly contribute to the existing knowledge, particularly in areas related to entrepreneurship and organizational behavior.

Table 5. Discriminant validity.

	Attitude	Entrepreneurial Intent	Barriers	Extrinsic Motivation	Family Environment	Innovation	Intrinsic Motivation	Self-Efficacy	Sociocultural Environment
Attitude	0.850
Entrepreneurial Intent	0.709	0.895
Barriers	0.732	0.463	0.823
Extrinsic Motivation	0.566	0.545	0.141	0.858
Family Environment	0.463	0.016	0.234	0.113	0.820
Innovation	0.121	0.747	0.404	0.239	0.161	0.868
Intrinsic Motivation	0.121	0.641	0.333	0.321	0.416	0.497	0.820
Self-efficacy	0.045	0.164	0.224	0.365	0.474	0.136	0.759	0.850
Sociocultural Environment	0.670	0.140	0.471	0.687	0.038	0.053	0.857	0.646	0.971

presents the analysis of discriminant validity, following the criterion proposed by [42]. According to this criterion, to assert discriminant validity, the square root of the average variance extracted (AVE) for each construct (values on the main diagonal) must be greater than the correlations between that construct and any other construct (values off the diagonal). In this study, it is observed that the values on the main diagonal, which reflect the amount of variance each construct explains on its own, are generally greater than the correlations between different constructs. This finding indicates good discriminant validity, suggesting that each construct measures a unique and differentiated aspect of entrepreneurship, thus meeting the criteria established by [42]. The research demonstrated that factors such as self-confidence and the sociocultural environment are adequately defined by their respective indicators and are clearly distinguished from other constructs. This distinction is fundamental for understanding the dynamics of entrepreneurship, as it allows for the analysis of the specific impact of each factor on the entrepreneurial process. Moreover, discriminant validity supports the robustness of the proposed theoretical model by confirming that the constructs used represent differentiated aspects of the phenomenon studied. These results provide a solid basis for interpreting the findings and drawing relevant conclusions about the factors influencing entrepreneurship.

3.2. Results of the Direct Effects in the Research Model

The Figure 2 presents the results of testing the research hypotheses using confidence interval analysis and statistical significance tests. Of the eight hypotheses proposed, five were accepted, and three were rejected.

Attitude had a positive and significant effect on entrepreneurial intention (β = 0.709, p < 0.001), supporting the main hypothesis of the study. Additionally, extrinsic motivation (β = 0.178, p = 0.003), family environment (β = 0.127, p = 0.002), innovation (β = 0.462, p < 0.001), and intrinsic motivation (β = 0.117, p = 0.046) had positive and significant impacts on the attitude toward entrepreneurship. On the other hand, there was not enough evidence to support the hypotheses related to the effects of barriers (β = 0.081, p = 0.079), self-efficacy (β = 0.009, p = 0.873), and the sociocultural environment (β = −0.008, p = 0.831) on the attitude toward entrepreneurship, as the 95% confidence intervals include the value zero and the p values exceed the established significance level (p value= 0.05).

Therefore, the results suggest (

Table 6. Hypothesis testing.

Hypothesis	Path	2.5%	97.5%	DE	p Values	Decision
Attitude → Entrepreneurial Intent	0.709	0.631	0.777	0.038	0.000	Accepted
Barriers → Attitude	0.081	−0.009	0.170	0.046	0.079	Rejected
Extrinsic Motivation → Attitude	0.178	0.058	0.290	0.060	0.003	Accepted
Family Environment → Attitude	0.127	0.051	0.212	0.041	0.002	Accepted
Innovation → Attitude	0.462	0.353	0.557	0.052	0.000	Accepted
Intrinsic Motivation → Attitude	0.117	−0.002	0.227	0.059	0.046	Accepted
Self-efficacy → Attitude	0.009	−0.088	0.137	0.058	0.873	Rejected
Sociocultural Environment → Attitude	−0.008	−0.077	0.063	0.035	0.831	Rejected

) that motivational factors, both extrinsic and intrinsic, as well as the family environment and orientation toward innovation, play a crucial role in forming a positive attitude toward entrepreneurship, which in turn significantly influences the intention to undertake entrepreneurship. However, perceived barriers, self-efficacy, and the sociocultural environment do not appear to have a significant impact on entrepreneurial attitudes in this particular context.

Table 7. Results of indirect or mediating effects of the research model.

Hypothesis	Path	DE	T	p Values	Decision
Barriers → Attitude → Entrepreneurial Intent	0.057	0.033	1.74	0.081	Rejected
Extrinsic Motivation → Attitude → Entrepreneurial Intent	0.126	0.042	2.98	0.003	Accepted
Family Environment → Attitude → Entrepreneurial Intent	0.090	0.029	3.09	0.002	Accepted
Innovation → Attitude → Entrepreneurial Intent	0.328	0.040	8.14	0.000	Accepted
Intrinsic Motivation → Attitude → Entrepreneurial Intent	0.083	0.042	2.00	0.045	Accepted
Self-efficacy → Attitude → Entrepreneurial Intent	0.007	0.042	0.15	0.874	Rejected
Sociocultural Environment → Attitude → Entrepreneurial Intent	−0.005	0.025	0.21	0.831	Rejected

displays the indirect effects of various variables on entrepreneurial intention through attitude. The results indicate that innovation has the strongest and most significant indirect effect on entrepreneurial intention through attitude (β = 0.328, t = 8.14, p < 0.001). This suggests that innovation positively influences the attitude toward entrepreneurship, which in turn increases entrepreneurial intention. Extrinsic motivation and the family environment also had significant indirect effects on entrepreneurial intention through attitude (β = 0.126, t = 2.98, p = 0.003; and β = 0.090, t = 3.09, p = 0.002, respectively). These results suggest that both extrinsic motivation and support from the family environment positively influence the attitude toward entrepreneurship, which in turn boosts entrepreneurial intention. Intrinsic motivation has a marginally significant indirect effect on entrepreneurial intention through attitude (β = 0.083, t = 2.00, p = 0.045). This indicates that intrinsic motivation also contributes, albeit to a lesser extent, to the formation of a positive attitude toward entrepreneurship, which in turn enhances entrepreneurial intention. On the other hand, barriers, self-efficacy, and the sociocultural environment did not have significant indirect effects on entrepreneurial intention through attitude (p > 0.05). This suggests that these variables do not significantly influence the attitude toward entrepreneurship and, therefore, do not have a notable indirect impact on entrepreneurial intention.

3.3. Testing of the Study’s Mediation Hypotheses

Table 8. Goodness of fit test results.

	Saturated Model	Estimated Model
SRMR	0.052	0.076
d_ULS	1.527	3.214
d_G	0.789	0.917
Chi-square	1651.124	1831.204
NFI	0.848	0.832

displays the main indicators of the goodness-of-fit test. The SRMR (standardized root means square residual) is 0.052 for the saturated model and 0.076 for the estimated model, indicating a good fit, as both are below the common threshold of 0.08. The discrepancy values for ULS (unweighted least squares) and GLS (generalized least squares) are 1.527 and 0.789, respectively, for the saturated model and 3.214 and 0.917, respectively, for the estimated model. These values are greater in the estimated model, suggesting a poorer fit compared to the saturated model. The chi-square is significantly high in both models, at 1651.124 and 1831.204, which could indicate a poor fit; however, this test is very sensitive to sample size and might not be the best indicator in this context. The NFI (normed fit index) values are fairly close, at 0.848 for the saturated model and 0.832 for the estimated model, both below the desirable threshold of 0.90, which could suggest a moderate or acceptable fit depending on the standards of the specific discipline. Overall, these indices show an acceptable fit of the estimated model; however, they are slightly inferior to the saturated model.

3.4. Qualitative Analysis of Female Entrepreneurship Context

The phenomenon of female entrepreneurship in Colombia is complex and multifaceted, shaped by the interplay of socioeconomic and cultural contexts. For example, research evidence substantiates the assertion that microfinance activities have proved useful in aiding the economic empowerment of women. This is because they entail the provision of funds that women may otherwise have missed out on [51]. Survey results indicate that such financing has been instrumental in boosting income levels, facilitating ownership of productive assets, and accumulating savings among female business owners. Moreover, the impact extends beyond mere financial gain, encompassing an enhancement of capabilities that facilitate business growth and development. Specifically, the term “cultural dissonance” refers to the discrepancy between existing cultural norms and the introduction of new business behaviors [52]. The perception of cultural dissonance has a significant impact on the business practices of entrepreneurial actors. In this regard, Colombian women entrepreneurs have demonstrated considerable courage and cultural agility, often exhibiting greater cultural flexibility than their male counterparts. Therefore, it can be considered a situational advantage in the context of business [53]. The absence of familial obligations, coupled with the pivotal influence of cultural norms, has served as a driving force behind the emergence of women in entrepreneurial roles. Women who have experienced relationship-oriented discrimination have demonstrated a preference for engaging in business activities over pursuing conventional employment opportunities, which they perceive as inaccessible. This phenomenon is particularly prevalent in developing societies, such as Colombia, where constructive entrepreneurship is often perceived as a means of achieving economic self-sufficiency [54]. As evidenced by numerous studies, certain factors, such as the presence of a support system, have been identified as crucial for the success of women entrepreneurs. Targeted public grants have been instrumental in reducing the time and information barriers faced by older women entrepreneurs, in particular [55]. Moreover, entrepreneurial education and associated structures, such as alumni networks and student entrepreneur clubs, have become instrumental in fostering sustainable entrepreneurial communities. Nevertheless, despite these encouraging developments, challenges remain in terms of access to digital financial services (DFS) and the social factor of gender-based discrimination. To create an enabling environment for women entrepreneurs in Colombia, it is essential to address these issues through policy and societal changes.

4. Discussion

The main objective of this study was to determine the influence of various psychosocial predictors on the entrepreneurial attitude of Colombian university women and to examine their subsequent impact on entrepreneurial intention (EI) in this group. The results obtained using structural equation modeling partially confirm the formulated hypotheses.

Furthermore, the effect of this attitude on the entrepreneurial intention of Colombian university women was evaluated; for this purpose, an SEM research model was formulated based on the partial least squares (PLS) technique. The model presented the following goodness of fit indices: χ² = 1831.204, SRMR = 0.076, d_ULS = 3.214, d_G = 0.917, and NFI = 0.832. These values are considered acceptable. Additionally, the values of the coefficient of determination R² suggest that the factors of university entrepreneurship provide an acceptable explanation of the constructs of attitude (86%) and entrepreneurial intention (48%).

4.1. Discussion of the Direct Effects of the Study

The primary aim of this study was to determine the influence of various psychosocial predictors on the entrepreneurial attitudes of Colombian university-aged women and to examine their subsequent impact on entrepreneurial intentions. The results obtained through structural equation modeling allow for partial confirmation of the formulated hypotheses.

First, a positive and significant effect of extrinsic motivation on entrepreneurial attitude (β = 0.178, p < 0.003) is corroborated. This finding reinforces previous reports on the impact of external rewards in attracting potential female entrepreneurs [11,37]. For university women, incentives such as higher status, income, or professional recognition could increase the perceived attractiveness of starting their own business. This suggests that stimulating such motivations in entrepreneurial training programs could encourage more favorable attitudes toward this career option among women.

Additionally, a positive influence of intrinsic motivation on entrepreneurial attitude (β = 0.117, p < 0.046) is verified. This result aligns with previous studies highlighting how internal factors such as passion, self-determination, and the desire for self-actualization nourish a positive view of entrepreneurship in women [4,12]. Cultivating these motivators in the university environment, for example, through rewarding practical experiences, would help more students feel attracted to and capable of entrepreneurship.

Furthermore, the family environment had a significant direct effect on entrepreneurial attitude (β = 0.127, p < 0.002). This finding is consistent with research revealing how family support and role models influence the perceived desirability and feasibility of entrepreneurship among young women [32]. Universities could leverage this resource by involving parents and role models in activities that expose students to inspiring stories of female entrepreneurship.

Moreover, the strong positive impact of personal innovation on entrepreneurial attitude (β = 0.462, p < 0.001) is confirmed. This finding reinforces the central role that creativity and the ability to identify novel opportunities play in the female entrepreneurial process [16]. To enhance this strength, educational institutions should emphasize divergent thinking and problem-solving skills in their entrepreneurship curriculum.

Finally, the influence of attitude on entrepreneurial intention (β = 0.709, p < 0.000) is ratified, in line with theoretical models such as the TPB [30] and previous empirical evidence from university samples [26,28]. This finding highlights the importance of cultivating positive valuations of entrepreneurship that lead to concrete aspirations to materialize their own initiatives among students.

However, the direct relationships among sociocultural environment, self-efficacy, and barriers to female entrepreneurship were not statistically confirmed. Perhaps the sample analyzed differs from previous research [20,25] regarding these modulating factors of the female entrepreneurial process. Future studies should examine in depth the cultural and individual nuances that might moderate these relationships in the Colombian context using multigroup comparisons, for example [27].

The results provide relevant evidence on the factors that promote the entrepreneurial spirit of women at Colombian universities. Specifically, they corroborate the facilitative role of certain extrinsic motivators, such as desires for higher economic and social status, to increase the attractiveness of starting their own business among these women. Additionally, personal creativity and innovation are reaffirmed as powerful drivers of the self-perception of competence and leadership in participants, which translates into greater aspirations to undertake an entrepreneurial initiative. Likewise, the study verifies that entrepreneurial attitude plays a fundamental mediating role between these intrinsic and extrinsic motivators and the subsequent behavioral intention to pursue entrepreneurship.

In summary, this study provides valuable evidence on key predictors of female university entrepreneurship, laying the foundation for designing educational interventions and targeted public policies that enhance the immense talent of these future business leaders. Continuing to investigate the psychosocial particularities of this group will allow us to continue breaking down barriers and building more equitable ecosystems that unleash their full transformative potential.

4.2. Discussion of the Indirect Effects of the Study

The results of the study reveal that various psychosocial factors influence the entrepreneurial intention of women at Colombian universities through their impact on entrepreneurial attitudes. These findings support and extend the literature on female university entrepreneurship while offering new perspectives in the Colombian context.

First, innovation had the strongest and most significant indirect effect on entrepreneurial intention through attitude. This result is consistent with [35], which considers innovation to be the core of entrepreneurship and suggests that the ability to innovate positively influences the attitude toward entrepreneurship. Additionally, this finding aligns with recent studies that emphasize the crucial role of innovation in female entrepreneurship [6,28].

Extrinsic motivation and the family environment also had significant indirect effects on entrepreneurial intention through attitude. These results are consistent with self-determination theory [29], which suggests that extrinsic motivation can affect attitudes toward entrepreneurship, although its impact may be less sustainable than that of intrinsic motivation. Moreover, these findings support the idea that the family environment and inherited social capital can positively influence the attitude toward entrepreneurship through role modeling and social support [32].

Intrinsic motivation also had a marginally significant indirect effect on entrepreneurial intention through attitude. This result is consistent with the extension of self-determination theory by [34], arguing that intrinsic motivation is positively related to a proactive attitude toward an activity. However, the less pronounced effect of intrinsic motivation compared to extrinsic motivation in this study could suggest that, in the context of Colombian university women, external motivators play a more prominent role in shaping entrepreneurial attitudes.

On the other hand, perceived barriers, self-efficacy, and the sociocultural environment did not have significant indirect effects on entrepreneurial intention through attitude. These results contrast with some theories and previous studies. For example, ref. [43] proposed that perceptions of barriers can affect the desirability and feasibility of entrepreneurship, which in turn can influence the attitude toward entrepreneurship. Similarly, theory of self-efficacy [39] maintains that beliefs about one’s personal ability to execute necessary behaviors influence one’s attitude toward those behaviors. Additionally, research on cultural dimensions reported in [41] suggests that the sociocultural environment and cultural values can affect attitudes toward entrepreneurship. The lack of significant indirect effects of these factors in the present study could be due to several reasons. First, it is possible that, in the specific context of Colombian university women, perceived barriers, self-efficacy, and the sociocultural environment have a more direct influence on entrepreneurial intention rather than an effect mediated by attitude. Second, there could be other mediating or moderating factors not considered in this study that affect the relationship between these factors and entrepreneurial attitudes.

Finally, the measures used to assess these constructs may not have adequately captured their influence on entrepreneurial attitudes in this specific population. These results have important implications for the theory and practice of female university entrepreneurship. From a theoretical perspective, this study contributes to the literature by highlighting the mediating role of entrepreneurial attitude in the relationship between various psychosocial factors and entrepreneurial intention. Additionally, the findings suggest that, in the context of Colombian university women, factors such as innovation, extrinsic motivation, and the family environment may be more influential in shaping attitudes and entrepreneurial intentions than perceived barriers, self-efficacy, and the sociocultural environment. From a practical perspective, these results can inform the design of educational programs and public policies aimed at fostering female entrepreneurship in Colombian universities.

For example, universities could focus on developing innovation skills and fostering entrepreneurial motivation through their curricula and extracurricular activities. Additionally, entrepreneurship support initiatives should consider the role of the family environment and provide resources and support networks for female entrepreneurs. However, it is important to consider the limitations of this study when interpreting the results. First, the study was based on a specific sample of Colombian university women, which limits the generalizability of the results to other contexts. Second, the cross-sectional design of the study does not allow for definitive causal relationships between variables to be established. Third, the use of self-report measures may have introduced response biases. Future research could address these limitations and expand the findings of this study. For example, longitudinal studies could examine the evolution of entrepreneurial attitudes and intentions over time and their relationship with actual entrepreneurial behavior. Additionally, comparative studies across different countries and cultural contexts could shed light on the generalizability of these results and the influence of contextual factors on university female entrepreneurship.

5. Conclusions

First, it is confirmed that entrepreneurial attitude has a positive and significant effect on entrepreneurial intention among Colombian university women. This finding supports the central hypothesis of the study and highlights the fundamental role that individual valuations and predispositions play in forming concrete entrepreneurial aspirations in this group. Therefore, cultivating favorable attitudes toward entrepreneurship has emerged as a key goal to promote female business activity in the university setting.

Furthermore, various psychosocial factors positively influence the entrepreneurial attitudes of these women. Specifically, extrinsic motivation, the family environment, personal innovation, and intrinsic motivation had significant direct effects. These results confirm the corresponding hypotheses and underscore the importance of cultivating various internal and external drivers to foster a favorable view of entrepreneurship among women.

However, contrary to what was hypothesized, there was not enough evidence to support the direct effects of perceived barriers, self-efficacy, and the sociocultural environment on entrepreneurial attitudes in this sample. These divergent results could be attributed to contextual or individual differences among the participants and require further exploration in future studies to elucidate their role in the female university entrepreneurial process.

On the level of indirect effects, it was corroborated that innovation, extrinsic motivation, the family environment, and intrinsic motivation significantly influence entrepreneurial intention through their impact on attitude. This suggests that strengthening these factors could increase the chances of university women materializing their entrepreneurial aspirations by positively shaping their valuations of entrepreneurship.

Overall, the findings help clarify the psychosocial mechanisms that drive female entrepreneurship in the Colombian university context. This information is highly valuable for guiding the design of educational programs and public policies that cultivate more favorable ecosystems for the flourishing of future female entrepreneurs. Specifically, institutions could focus on developing innovation skills, fostering both intrinsic and extrinsic motivations, and involving families in the university entrepreneurial ecosystem.

Nonetheless, it is important to recognize some limitations of the study, such as its cross-sectional design, the use of self-report measures, and the specificity of the sample, which might restrict the generalization of the results. Future research could overcome these limitations through longitudinal studies that examine the evolution of variables over time, mixed methods that complement quantitative data with qualitative insights, and intercultural comparisons that identify common patterns and differences in the determinants of university female entrepreneurship.

In summary, this research represents a significant advance in understanding the enabling factors of university female entrepreneurship in Colombia. The results lay a solid foundation for continuing to explore this topic and translate the generated knowledge into concrete actions that empower women to lead the social and economic transformation of the country through their business initiatives. The path ahead is still long and challenging, but each step taken in the right direction brings us closer to the goal of building a society where female entrepreneurial talent can shine in all its glory.

5.1. Study Limitations

It is important to note, however, that this research is not without limitations. First, while the quantitative design is effective in establishing associations between variables, it constrains our ability to address the underlying reasons and processes that contribute to entrepreneurial activity among Colombian university women. As a result of its cross-sectional design, the study is limited in its ability to provide information about entrepreneurial intentions over time. It is therefore unable to assess fluctuations in entrepreneurial attitudes and behaviors over time.

Furthermore, the utilization of such expansive instruments in the emphasis surveyed may have resulted in the inadvertent overlooking of more profound underlying issues, including societal expectations, gender-related impediments, and adverse attitudes toward female-led enterprises. These and other significant aspects of women’s entrepreneurship typically necessitate a case study or interview approach that is more qualitative in nature.

The transformation of multifaceted cultural and contextual aspects into numbered attributes may result in the loss of the essence of the diverse experiences and challenges that women business owners in Colombia face. While our statistical conclusions are important in explaining how certain variables are interrelated, they will never enable us to fully explain how people live and where they fit into the entrepreneurial picture.

5.2. Theoretical Implications

This study contributes to the literature on university female entrepreneurship by confirming the crucial mediating role of entrepreneurial attitude in the relationship between various psychosocial factors (extrinsic and intrinsic motivation, family environment, and innovation) and entrepreneurial intention. This expands existing theoretical models such as the theory of planned behavior.

Moreover, the findings suggest that, in the context of Colombian university women, factors such as innovation, extrinsic motivation, and family support are more influential in shaping entrepreneurial attitudes and intentions than are perceived barriers, self-efficacy, and the sociocultural environment. This underscores the need to consider contextual specificity when theorizing about the determinants of female entrepreneurship.

Finally, the research identifies key psychosocial variables that predict and shape the entrepreneurial inclinations of future university professionals. This information is highly valuable for enriching conceptual frameworks on the processes of forming entrepreneurial intentions among young women.

5.3. Practical Implications

The practical implications of the study are as follows. The results can inform the design of educational programs and public policies aimed at fostering female entrepreneurship in Colombian universities. For instance, institutions could focus on developing innovation skills and promoting entrepreneurial motivation through their curricula and extracurricular activities.

Additionally, entrepreneurship support initiatives should consider the role of the family environment and provide resources and support networks for female entrepreneurs. Involving families in the university entrepreneurial ecosystem could be an effective strategy.

While perceived barriers, self-efficacy, and sociocultural factors were not found to be significant predictors of entrepreneurial attitude in this study, it is crucial not to underestimate these aspects. Higher education institutions and policymakers must continue their efforts to mitigate the obstacles faced by female entrepreneurs, boost their confidence in their entrepreneurial abilities, and cultivate more equitable environments that favor female entrepreneurship. Only through a comprehensive and persistent approach will it be possible to create conducive conditions for more university women to venture into the business world and contribute to the economic and social development of their communities.

Therefore, the practical implications involve not only the educational field but also policymakers, government agencies, and civil society. A joint effort is required to close historical gender gaps and fully enhance the transformative talent of university entrepreneurs.

5.4. Areas for Further Research

Further research should be conducted to address the issues identified in this study. The longitudinal surveys should relate to the attempts made to modify entrepreneurs’ attitudes and intentions, with the objective of observing and evaluating them throughout the course of their university studies, as well as in the initial stages of their professional careers. Qualitative methods, such as in-depth interviews with multiple women, would facilitate a more profound understanding of the underlying motivations and actions of Colombian female entrepreneurs.

It is possible that factors related to the regions and cultures of different parts of Colombia may prove to be important determinants in the study of entrepreneurial intentions. A mixed-methods approach, combining qualitative and quantitative methods, would be a more effective methodology for researching female entrepreneurship in Colombia.

Furthermore, additional research is required to examine the role of information and communication technologies (ICTs), mentoring initiatives, and support systems in the context of women entrepreneurs. In particular, research is required to ascertain the extent to which economic change, particularly that induced by the coronavirus pandemic, has posed a risk to women’s entrepreneurial ambition and prospects within the university environment.

The proposed future research directions would enhance understanding of Colombian female entrepreneurship in higher education and improve the quality of policies and corresponding support frameworks targeting women.