Asian Journal of Economics, Business and Accounting

Entrepreneurship is not pursued as an attractive career choice by the Sri Lankans as they more attracted to jobs. Entrepreneurial Intention (EI) of younger generation of the country is more crucial in this condition where they are the essence of the active citizen pool of the country. The main objective of this study is to find out the factors that affect EI of Advanced Level (A/L) students in Colombo District, Sri Lanka. The study includes three constructs discuss under the Theory of planned Behaviour (TPB), which affect the EI of individuals. Further, the study efforts to identify the mediation effect of role models (RM) on the above factors when determining EI. A total of 376 students from schools in Colombo District, Sri Lanka participated in this study by responding to the structural questionnaire. Data analysis was done by correlation analysis, multiple regression analysis, and factor analysis. Findings of the study shown that attitudes towards Entrepreneurship (ATE), subjective norms (SN), perceived behavioural control (PBC) as well as role models are positively and significantly related with EI. The study also exposed that role models significantly mediate the relationships between ATE, SN and PBC with EI. Further, the study reflects that there is a positive effect on EI in terms of ATE, SN and PBC. Since Sri Lanka is having a critical issue with rising unemployment rates, self-employment is a respectable solution for the younger generation. This study adds value to the literature in the means of application of TPB in the context of Sri Lanka.