From Traits to Action: How Innovativeness, Proactiveness, and Risk-Taking Translate into Concrete New Venture Ideas Through Self-Regulation

Abstract

This research examines the influence of  Innovativeness (I) , proactiveness (p), self management (SM),  risk taking behavior (RTB),  new venture ideas(NVI) among university students from family business backgrounds in Gujranwala, Pakistan. Grounded in the Theory of Planned Behavior (TPB), the study identifies Attitude Toward Entrepreneurship (ATE) as a mediating variable that transforms intention into actual entrepreneurial action. A quantitative research design was used, with data collected via structured questionnaires from a sample of 327 students. The study applied statistical techniques including multiple regression and Hayes’ PROCESS macro to analyze direct and mediating effects. The findings reveal that I, P, and SM each significantly predict RTB and NVI, with ATE emerging as the strongest predictor of EB (β = 0.35). Furthermore, RTB partially or fully mediates the relationship between independent variables and NVI, demonstrating its critical role in shaping entrepreneurial outcomes. Among the three factors, I and P had stronger impacts on both RTB and NVI compared to SM, indicating the growing importance of formal education and digital skills in today’s entrepreneurial landscape. The study contributes to existing literature by extending the TPB framework with contextual variables relevant to emerging economies. It also provides actionable insights for educators, policymakers, and family business stakeholders seeking to nurture entrepreneurial talent in youth. This research highlights the need for holistic development in aspiring entrepreneurs, blending cognitive intent with digital and educational readiness to drive entrepreneurial action.