university of san agustin college of commerce ENTREPRENEURIAL MOTIVATION AND FINANCIAL LITERACY AMONG THE COLLEGE OF COMMERCE STUDENTS AT THE UNIVERSITY OF SAN AGUSTIN Mark Rogen R. Caspe Jose Miguel E. Garin Simon Kevin L. Ong Hanes Marc P. Penuela Lawrence T. Ruiz Student-Researchers Doris P. Lauron, PhD Research Adviser ENTREPRENEURIAL MOTIVATION AND FINANCIAL LITERACY AMONG THE COLLEGE OF COMMERCE AT THE UNIVERSITY OF SAN AGUSTIN I BACKGROUND & RATIONALE Students' entrepreneurial motivation differed according to their educational attainment, school, and entrepreneurial experience. This intention was related to the academe's current situation, entrepreneurial start-up support needs, and government provisions. Financial literacy is skills and knowledge that would financially secure themselves and be proactive regarding the market for financial goods and services. Studies also show that an individual's financial literacy affects their entrepreneurial nature. Page 02 of 21 UNIVERSITY OF SAN AGUSTIN COLLEGE OF COMMERCE There are no studies done within Iloilo City to analyze the correlation between entrepreneurial motivation and financial literacy among university students . Through this study, it aims to close this gap within Philippine universities, particularly in Iloilo. Page 03 of 21 UNIVERSITY OF SAN AGUSTIN COLLEGE OF COMMERCE Page 04 of 21 The researchers will be able to measure how motivated and knowledgeable are the students in terms of their entrepreneurial motivation and financial literacy through this study. The researchers also believe that it would be beneficial for the business and administration programs, especially to the degree of BS Entrepreneurship of the University of San Agustin as being the subject of the study. This paper seeks to add to the body of knowledge on the impact of the profile of respondents and entrepreneurial motivation and financial literacy among university students. It would also help business educators and government agencies improve their institutions' entrepreneurship and financial literacy initiatives. Hence, there is a need to conduct this study. UNIVERSITY OF SAN AGUSTIN COLLEGE OF COMMERCE The study results will aid in contributing information about the entrepreneurial motivation and financial literacy in Iloilo City to the following: Department of Trade and Industry (DTI) Commission on Higher Education Region VI (CHED) Universities in Iloilo City Students Researchers Future Researchers Page 05 of 21 UNIVERSITY OF SAN AGUSTIN COLLEGE OF COMMERCE I THEORETICAL FRAMEWORK The Theory of Self-Determination or SDT by Ryan & Deci (1985) This theory differentiate between several motivational styles based on the motives or objectives that drive action. It relates to human motivation, personality, and best performance. It asserts that there are two primary motivational types: intrinsic and extrinsic, which are significant determinants of who we are and how we act. Page 06 of 21 Page 07 of 21 UNIVERSITY OF SAN AGUSTIN COLLEGE OF COMMERCE I SCHEMATIC DIAGRAM Entrepreneurial Motivation Socio-demographic Profile of the Respondents Age Sex Year Level Field of Specialization Monthly Family Income Intrinsic Motivation Extrinsic Motivation Financial Literacy Knowledge of... Financial Management Savings and Investment Loans Figure 1. The College of Commerce students’ Entrepreneurial Motivation and Financial Literacy as influenced by their socio- demographic profile. UNIVERSITY OF SAN AGUSTIN COLLEGE OF COMMERCE STATEMENT OF THE PROBLEM 1. What is the level of entrepreneurial motivation among the College of Commerce students at the University of San Agustin in terms of intrinsic and extrinsic motivation when taken as a whole and grouped according to age, sex, year level, field of specialization, and monthly family income? Page 08 of 21 SOURCE OF DATA DATA- GATHERING INSTRUMENT Statistical Technique Mean Primary items per subscale UNIVERSITY OF SAN AGUSTIN COLLEGE OF COMMERCE STATEMENT OF THE PROBLEM 2. What is the level of financial literacy among the College of Commerce students at the University of San Agustin in terms of knowledge of financial management, knowledge of savings and investment, and knowledge of loans when taken as a whole and grouped according to age, sex, year level, field of specialization, and monthly family income? Page 09 of 21 SOURCE OF DATA DATA- GATHERING INSTRUMENT items per subscale Primary Management Investment Knowledge of Loans Statistical Technique Mean UNIVERSITY OF SAN AGUSTIN COLLEGE OF COMMERCE STATEMENT OF THE PROBLEM 3. Are there significant differences in the level of entrepreneurial motivation among the College of Commerce students at the University of San Agustin in terms of intrinsic and extrinsic motivation when grouped according to age, sex, year level, field of specialization, and monthly family income? Page 10 of 21 SOURCE OF DATA DATA- GATHERING INSTRUMENT Statistical Technique U Test Primary UNIVERSITY OF SAN AGUSTIN COLLEGE OF COMMERCE STATEMENT OF THE PROBLEM 4. Are there significant differences in the level of financial literacy among the College of Commerce students at the University of San Agustin in terms of knowledge of financial management, knowledge of savings and investment, and knowledge of loans when taken as a whole and grouped according to age, sex, year level, field of specialization, and monthly family income? Page 11 of 21 SOURCE OF DATA DATA- GATHERING INSTRUMENT Statistical Technique per subscale U Test Primary Management Investment Knowledge of Loans UNIVERSITY OF SAN AGUSTIN COLLEGE OF COMMERCE STATEMENT OF THE PROBLEM 5. Is there a significant relationship between entrepreneurial motivation and financial literacy among the College of Commerce students at the University of San Agustin? Page 12 of 21 SOURCE OF DATA DATA- GATHERING INSTRUMENT Primary Statistical Technique Rho Knowledge of Savings and Investment Knowledge of Loans UNIVERSITY OF SAN AGUSTIN COLLEGE OF COMMERCE I RESEARCH DESIGN In relation to the descriptive method, the researchers are interested to know the profile of the respondents, level of entrepreneurial motivation and level of financial literacy. Furthermore, the various factors associated to each main variable shall be further explored. Page 13 of 21 UNIVERSITY OF SAN AGUSTIN COLLEGE OF COMMERCE I RESEARCH DESIGN Under the correlational method, the researchers want to explore whether or not significant differences exist in level of entrepreneurial motivation and level of financial literacy among College of Commerce students at the University of San Agustin when they are grouped according to certain demographics. This study also dwells on the possible significant relationship that may exist between Entrepreneurial Motivation and Financial Literacy. Page 14 of 21 UNIVERSITY OF SAN AGUSTIN COLLEGE OF COMMERCE I Page 15 of 21 RESPONDENTS College of Commerce students who are enrolled at the University of San Agustin – Iloilo, in the Academic Year 2022-2023 during the conduct of the study . Must be in the age ranges of 18-20 years old, 21-23 years old, or 24 years old and above; Must either be a male or female; Must be a first-year, second-year, third-year or fourth-year; UNIVERSITY OF SAN AGUSTIN COLLEGE OF COMMERCE I Page 16 of 21 RESPONDENTS Must be presently enrolled with a course of either Bachelor of Science in Business Administration Major in Marketing Management , Bachelor of Science in Entrepreneurship, Bachelor of Science in Accountancy, Bachelor of Science in Management Accounting, or Bachelor of Science in Business Administration Major in Financial Management; They must have a family income that falls under less than Php 10,957 (poor), Php 10,957 to 21,193 (low income), Php 21,194 to 43,827 (lower middle class), Php 43,828 to Php 76,668 (middle class), Php 76,669 to 131,483 (upper middle income), Php 131,484 to Php 219,139 (high income) or an income of Php 219,140 and above(rich). UNIVERSITY OF SAN AGUSTIN COLLEGE OF COMMERCE I SAMPLING TECHNIQUE Convenience sampling is a particular kind of nonprobability sampling technique that depends on gathering data from population members who are easily available to take part in the study (Dudovskiy, 2012). Page 17 of 21 UNIVERSITY OF SAN AGUSTIN COLLEGE OF COMMERCE I DATA-GATHERING PROCEDURE The researchers chose three validators for this study, with two (2) coming from the faculty of the College of Commerce of the University of San Agustin and one (1) industry practitioner. The reliability test was conducted with thirty (30) students from the other department of the College of Commerce of the University of San Agustin, who are not the main respondents of the research. After which, the researchers have tallied and encoded the data they gathered after the pilot testing and submitted it to the statistician for analysis. Generated Result: Entrepreneurial Motivation: .911 (Excellent) Financial Literacy: .931 (Excellent) Overall Result: .938 (Excellent) Page 18 of 21 UNIVERSITY OF SAN AGUSTIN COLLEGE OF COMMERCE I DATA-GATHERING PROCEDURE The researchers submitted a letter to the director of the Innovation and Technology Support Office (ITSO), together with the billing form and the proposal paper, to request a grammar and plagiarism check to ensure accuracy and credibility. After the researchers will pass the proposal defense and meet all the requirements, the paper, together with the letter addressed to the director of the Research Ethics Review Committee, will be submitted for double-blind checking of the research paper. Page 19 of 21 UNIVERSITY OF SAN AGUSTIN COLLEGE OF COMMERCE I DATA-GATHERING PROCEDURE The researchers will distribute the questionnaires to the participants in this study to gather the information required. The researchers will group and compile the responses to prepare for data tabulation and analysis. All questionnaires and data obtained will be stored securely, and all statistical data will be computer processed and analyzed. The researchers will interpret and analyze the obtained data, both descriptive and inferential. Once done, conclusions and recommendations will be drawn. Page 20 of 21 university of san agustin college of commerce ENTREPRENEURIAL MOTIVATION AND FINANCIAL LITERACY AMONG THE COLLEGE OF COMMERCE STUDENTS AT THE UNIVERSITY OF SAN AGUSTIN Mark Rogen R. Caspe Jose Miguel E. Garin Simon Kevin L. Ong Hanes Marc P. Penuela Lawrence T. Ruiz Student-Researchers Doris P. Lauron, PhD Research Adviser
