Family economic education, peer groups and students’ entrepreneurial intention: the mediating role of economic literacy

Stimulating potential entrepreneurs is a global challenge and policymakers need to understand factors affecting students' entrepreneurial intention. The growing body of literature has focused on the impact of entrepreneurship education and entrepreneurial intention, while this study aims to explore other predicted factors affecting students' entrepreneurial intention, such as family economic education, peer groups, and economic literacy. This study adopted a quantitative method using a survey approach to obtain comprehensive findings. The research involved online questionnaires to approximately 1000 students undergoing convenience sampling in a university in Indonesia as participants. The results indicated that both family economic education and peer groups positively correlate with economic literacy and students' entrepreneurial intention. These results confirmed a crucial role of economic literacy that government and educational institutions can consider to stimulate students' entrepreneurial intention. This study also contributes to the educational sector and governments to facilitate the creation of student-working groups in entrepreneurship as an attempt to encourage students’ engagement.