WTIWTI
4. Conclusion
Hypothesis test results indicate that managerial ownership variable significant negative effect on agency costs. This is consistent with the mechanism of managerial ownership structure as a way to reduce the imbalance between insider with an outsider information through disclosure of information within the company. Limitations of this study include: the unit of analysis is only derived from the manufacturing companies listed on the Stock Exchange. It is recognized that the results become more narrow in generalizing the results, and the period of observation in this study is quite, but there are limitations of the variables used in this study. Therefore, for future research should add that not only the unit of analysis is derived from manufacturing companies alone (do research on companies across industries or cross country) and develop other measures of agency costs such as using rsio use of the asset, so that the owner of the company apat measure effectiveness in the use of the asset management companies.
References
Ang, James S., Rebel A., Cole dan James Wuh Lin. 2000. Agency Costs and Ownership Structure. The Journal of Finance, Vol. 55 No. 1. pp. 81-106.
Bathala, C.T, et al. 1994. Managerial Ownership, Debt Policy, and the Impact of Institutional Holdings, and Agency Perspective. Financial Management 23. pp 38-50
Bozec, Yes dan Richard Bozec. 2007. Ownerhsip Concentration and Corporate Governance Practices:
Substitution or Expropriation Effects? Canadian Journal of Administrative Science Vol. 24 no. 3 pp 182-190
Chen, Chiung-Jung & Yu, Chwo-Ming Joseph. 2011. Managerial Ownership, Diversification, and Firm Performance: Evidence from an Emerging Market. International Business Review xxx (2001) Chen, Lin, Ma, Yue, & Xuan, Yuhai. 2011. Ownership Structure and Financial Constraints: Evidence From A
Structural Estimation. Journal of Financial Economics 102 (2011) 416–431
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Crutchley, Claire E dan Robert S. Hansen. 1989. A Test of The Agency Theory of Managerial Ownership, Corporate Leverage and Corporate Dividends. Fianncial Managerment Vol. 18 pp 36-46
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Harjito, Agus & Nurfauziah. 2006. Hubungan Kebijakan Hutang, Insider Owenership dan Kebijakan Deviden Dalam Mekanisme Pengawasan Masalah Agensi di Indonesia. JAAI, Vol. 10 No. 2.
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Indriastuti, Maya. 2014. The Increasing Of Financial Performance With Ownership Structure. Proceeding 2nd IFMA International Conference on Finance. ISBN 978-602-1471-6. December 16-17,2014.
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Kusuma, Hadri & Erlan Susanto. 2004. Efektivitas Mekanisme Bonding: Kasus Perusahaan-perusahaan yang dikontrol Komisaris Independen. JAAI, Vol. 8 No. 1
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Fat to Fit – an Asian Obesity Management Program and the Malaysian Case Study Dee Dee A. SALLE*, Yii Bonn BONG, Abdul Majid MOHAMED, Asma Ahmad SHARIFF, Amir Feisal MERICAN
University of Malaya, Kuala Lumpur, Malaysia
*deedeefitness@gmail.com
Abstract: Fat to Fit was a 3-month weight loss program initiated for an Asian obesity management program. The aim of this study is to investigate the effect of physical activity and changes of body size and body composition. A total of 28 subjects ranging from 20-50 years old completed the 3-month program, which required them to follow a structured exercise thrice per week. Subjects were screened and selected through interviews. Anthropometric measurements for body weight, size [height, body dimension circumferences, body mass index (BMI), body composition (fat mass and lean mass)] and skin fold thickness were obtained using conventional method. Body composition was evaluated via Omron HBF 514C body composition monitor and scale. A guided 3-months physical exercise was used as the intervention. Pre- and post- test analysis was computed through paired t-test using IBM SPSS Statistics 22. Changes in body size were examined and the descriptive statistics were reported. Following the intervention, body mass and body composition was significantly lower than the baseline values. This study will be used as a national community intervention programme to combat obesity in Malaysia. This research will contribute to new information on obesity management in Asia Pacific region, which is rather limited at this moment.
Keywords: Fat to fit, Asian, obesity, body size, body composition
1. Introduction
“Globesity”, an escalating global epidemic of overweight and obesity, is taking over many parts of the world. The obesity epidemic is not only restricted to industrialized nations, but in the developing countries as well. Obesity rates across developed countries such as the USA, England, France and others are alarmingly high, ranging from 3-4% in Korea and Japan to more than 30% in the United States (Organisation for Economic Cooperation and Development, 2014). Flegal et al. (2010) expressed that many Asian countries have rates which are similar to that of the United States too. Malaysia is now the fattest country in South-East Asia (The Malaysian Insider, 2014). A 2013 study in Lancet recorded that nearly 45% of Malaysian men and almost half of the women population are obese. The World Health Organization (WHO, 2013) reported that in 2008, more than 1.4 billion of the world’s adult population was overweight (BMI 25-29.9 kg/m2) and 11% were obese (BMI > 30kg/m2). Obesity brings metabolic diseases which hampers the functional capacity, thus negating the quality of health. Although men may have higher rates of overweight, women have higher rates of obesity (300 million women versus 200 million men) (WHO, 2015). Obesity poses a major risk for non-communicable diseases, including diabetes mellitus, cardiovascular disease, hypertension and stroke. It is the significant independent risk factor for cardiovascular disease among women as reported in the Framingham Heart Study (Hubert et al., 1983).
Furthermore, Wolin et al. (2010) stated that about 20% of all cancers are caused by excess weight.
Obesity may also interfere with the ability to deliver other forms of treatment.
Anthropometric measurements are used for evaluation of health and dietary status, disease risk and body composition changes over time (Fryar, Gu & Ogden, 2012). Body circumference measurements have been recognized as simple indicators for disease prevalence and nutritional assessment. Body mass index (BMI) may be the most frequently-used and easiest indicator for overweight and obesity status, but studies have shown that waist and hip circumferences may be more strongly related to obesity-related diseases (Bosy-Westphal et al., 2006; Rexrode et al., 1998). In view of greater lean mass in non-abdominal regions, hip and thigh circumferences show a protective effect with health risk (Janssen, Katzmarzyk &
Ross, 2004). Yusof et al. (2005) found that greater hip circumference has been linked to a reduced likelihood of myocardial infarction. Physical activity is a common recommendation to promote weight loss as well as improve fitness in the overweight and obese population. However, the latest research survey by Mohd Salleh Aman et.al (2014) pointed that only 40.8% Malaysians are active in sports. Fat to Fit was an initiation for an Asian obesity management program. The 3-month weight loss program was televised as a TV segment on RTM Malaysia’s national Television channel, had parallel programmes in Singapore and Malaysia and is expanding into Thailand, Indonesia, Philippines and Brunei. The aim of this study is to investigate the effectiveness of Fat to Fit program in combating overweight and obesity.
55 2. Methodology
Subjects: The study followed a randomization design. A total of 30 subjects ranging from 20-50 years old were recruited for the study. However, 2 subjects pulled out in the middle of the program. They were screened and selected through interviews conducted in University of Malaya, Kuala Lumpur. All participants were academic and non-academic staffs working in the university. Participants were briefed and agreed to follow a 3-month physical training program (intervention). Socio-demographic characteristics of the subjects were obtained through survey form.
Experimental design: Participants for the Fat to Fit program were screened prior of the study. Only those who were previously sedentary, having overweight or obese problem and not on medications that would affect the outcome of the study were selected. Participants then completed an administered survey form and body composition assessment before started the exercise intervention program. The subjects completed a 3-month (12-week) training program and another body composition evaluation at the conclusion of the weight management program. The entire anthropometric measurements and body composition assessment was carried out on the same day. Height, body weight, circumference for neck, arm, chest, waist, hip, thigh and subcutaneous skin fold thickness were manually obtained. The BMI, waist-to-hip ratio and relative weight loss were calculated. Measurement protocols were the same for both pre and post- intervention.
Anthropometric methods and body composition assessment: Anthropometric measurements of the subjects were taken manually after subjects had changed into tight-fitting clothing made from a mixture of Lycra and cotton. Height and body weight were measured t the nearest 0.1cm and 0.1kg, respectively, using the Seca body meter (Seca, Germany) and the Omron HBF 514C body composition monitor and scale (Omron Healthcare Inc., USA). Circumference measurements for neck, arm, chest, waist, hip and thigh were taken to the nearest 0.1 cm using Myotape (AccuFitness LLC, USA). Skin fold thickness measurements were made to the nearest 0.1mm at the triceps, abdominal and thigh with a Holtain callipers (Holtain Ltd, UK). This was achieved by the measurer gently grasping the fold of skin and underlying subcutaneous adipose tissue of the subjects, with the amount grasped depending on the thickness of this tissue. All measurements followed the procedures recommended by Lohman et al.
(1988) and were taken in duplicate on the right side of the body.
Exercise training intervention: A guided 3-months thrice weekly physical exercise was used as the intervention. Dynamic warm ups are utilized as opposed to static stretching warm ups because of its effects on power and agility (Macmillian et al., 2006). The exercise training interventions consisted of dynamic warm ups for 5 minutes, intensity intervals and bodyweight exercises (consisting of modified push ups, modified curl ups, burpees, bodyweight squats, planks) of 20 minutes, dynamic cool down and static stretches of 5 minutes. The intensity intervals of the bodyweight movements will be executed in three sets of 12, 9, and 6 repetitions, respectively with 90 seconds of rest in between sets. Midway through the 12 weeks intervention, their rest will be shortened to 30 seconds intra sets.
Cardiorespiratory endurance exercises was incorporated from walks/jogs/runs in the Arena Stadium at University Malaya. The twelve static stretches consist of the Quadriceps Stretch, Adductor Stretch, Hamstring Stretch, Tibialis Anterior Stretch, Gastrocnemius Stretch, Oblique Stretch, Latissimus Dorsi Stretch, Pectorals Stretch, Deltoids Stretch, Triceps Stretch and Sternocledomastoid stretches.
Data analysis and statistical methods: The Statistical Package for the Social Science version 22.0 (IBM SPSS Statistics, Armonk, NY, USA) was used for data entry and descriptive statistical analysis. Data were expressed as means ± standard deviations. Descriptive statistics showed the characteristics and changes in body dimensions of the subjects. A matched pair t-test was used to determine the significance of differences between pre and post- intervention data. The level of significance used was 𝛼 = 0.05. Finally, a two-way analysis of variance (ANOVA) was conducted to determine the influence of age, gender, marital status and income on relative weight loss.
56 3. Results and Discussion
Table 1: Distribution of subjects according to socio-demographics (n=28)
Note: income status: - Low < RM 1500, Moderate - RM 1500 – 3500, High - > RM3500 (Malaysian Economic Planning Unit Classification)
The demographic characteristics of the subjects in this study are shown in Table 1. The mean and standard deviation of age for the studied subjects were 33.6 and 7.6 years old, respectively. About 78.5%
of the subjects were in the ≤ 30 years old and 31 - 39 years old groups; the rest were in the ≥ 40 years old group. Most of the participants were married (57.1%). The distribution of economic status among the participants was 21.4% low income group, 60.7% earning middle income and 17.9% in the high income group, according to the Malaysian Economic Planning Unit Classification.
Table 2: Changes in anthropometric measurements and body composition pre- to post- training Measurements Pre-training
(Mean±SD) Post-training
(Mean±SD) Paired differences (Mean±SD)
Height 1.62 ± 0.08 1.62 ± 0.08 0.00 ± 0.003
Weight 88.51 ± 17.07 82.51 ± 16.59 5.99 ± 5.12
Body Fat Percentage 43.51 ± 6.75 40.24 ± 7.87 3.26 ± 3.23 Body Muscle Percentage 25.34 ± 3.79 26.86 ± 4.37 -1.52 ± 1.66
Visceral Fat 10.39 ± 4.18 9.25 ± 3.69 1.14 ± 1.19
Triceps skin fold 31.66 ± 8.86 27.14 ± 7.72 4.52 ± 5.84
Thigh skin fold 49.79 ±14.06 44.46 ± 14.39 5.33 ± 7.24
Abdominal skin fold 44.88 ± 14.61 37.95 ± 12.53 6.93 ± 10.10 Neck circumference 38.09 ± 4.38 36.52 ± 3.43 1.57 ± 2.52
Arm circumference 36.40 ± 3.72 34.58 ± 4.01 1.83 ± 1.74
Chest circumference 105.18 ± 8.75 94.21 ± 23.00 10.97 ± 21.76 Waist circumference 102.51 ± 11.76 97.69 ± 11.20 4.83 ± 5.90 Hip circumference 113.17 ± 10.67 108.94 ± 10.29 4.23 ± 3.77 Thigh circumference 67.10 ± 6.91 63.88 ± 5.93 3.22 ± 3.22 Body Mass Index (BMI) 33.45 ± 4.67 31.18 ± 4.69 2.27 ± 1.87 Demographic Variables Male
Mean ±SD n (%)
Female Mean ±SD n (%)
Total Mean ±SD n (%)
Gender 8 (28.6) 20 (71.4) 28 (100)
Age 34.1 ± 8.7 33.5± 7.3 33.6 ±7.6
≤ 30 4 (50.0) 9 (45.0) 13 (46.4)
31-39 2 (25.0) 7 (35.0) 9 (32.1)
≥40 2 (25.0) 4 (20.0) 6 (21.4)
Marital status
Single 2 (25.0) 6 (30.0) 8 (28.6)
Married 6 (75.0) 10 (50.0) 16 (57.1)
Divorced 0 4 (20.0) 4 (14.3)
Income (RM)
<1500 0 (0) 6 (30.0) 6 (21.4)
1500-3500 7(87.5 ) 10 (50.0) 17 (60.7)
>3500 1 (12.5) 4 (20.0) 5 (17.9)
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Waist-to-hip ratio 0.91 ± 0.08 0.90 ± 0.07 0.01 ± 0.04
The pre- and post- training data for anthropometric measurements and body composition variables are presented in Table 2. There were significant (p<0.01) decreases in body weight, body fat percentage, visceral fat, skin fold thickness, circumference measurements and BMI, but the magnitude of changes was generally small. The largest changes were obtained from skin fold thickness (triceps, thigh and abdominal) with a percentage ranging from 10.71% to 15.44%. There was a small yet significant (p<0.001) increase in the body muscle percentage or the lean mass (+6.00%). However, the decrease in waist-to-hip ratio (1.10%) was not significant (p=0.197). Paired sample t-test (Table 3) was conducted to evaluate the impact of physical activity training on body mass and body composition in a 3-month interval. There were statistically significant decrease in body mass and body composition from pre-training to post-training (p<0.05). The eta squared statistic indicated large effect size, with a substantial difference in the body mass and body composition before and after intervention based on Cohen’s (1988) interpretation. However, the waist-to-hip ratio (WHR) showed moderate effect (0.061). Waist-to-waist-to-hip ratio is an easy way to see how much weight a person carries around the abdomen as opposed to around the hip region. Adults who store most of their body fat around their waists have an increased risk of high blood pressure, type 2 diabetes, heart disease and stroke compared with those who have the same amount of body fat stored around their hips and thighs. According to the University of Maryland Medical System, women with a WHR 0.8 or less, and men with a ratio 0.9 or less, are considered safe.
Table 3: Paired sample t-test of anthropometric measurements and body composition pre- and post- training
Paired statistics Correlation
r T Sig. Eta squared
Height (pre)
Height (post) 0.999 0.000 1.000 0.000
Weight (pre)
Weight (post) 0.954 6.197 0.000 0.587
Body fat (pre)
Body fat (post) 0.913 5.337 0.000 0.513
Body muscle (pre)
Body muscle (post) 0.927 -4.850 0.000 0.466
Visceral fat (pre)
Visceral fat (post) 0.962 5.069 0.000 0.488
Triceps skin fold (pre)
Triceps skin fold (post) 0.760 4.096 0.000 0.383
Thigh skin fold (pre)
Thigh skin fold (post) 0.871 3.894 0.001 0.360
Abdominal skin fold (pre)
Abdominal skin fold (post) 0.733 3.630 0.001 0.328
Neck circumference (pre)
Neck circumference (post) 0.818 3.288 0.003 0.286
Arm circumference (pre)
Arm circumference (post) 0.902 5.573 0.000 0.535
58 Chest circumference (pre)
Chest circumference (post) 0.328 2.667 0.013 0.209
Waist circumference (pre)
Waist circumference (post) 0.869 4.328 0.000 0.410
Hip circumference (pre)
Hip circumference (post) 0.936 5.936 0.000 0.566
Thigh circumference (pre)
Thigh circumference (post) 0.886 5.303 0.000 0.510
BMI (pre)
BMI (post) 0.920 6.424 0.000 0.604
Waist-hip ratio (pre)
Waist-hip ratio (post) 0.877 1.324 0.197 0.061
The two-way between group analysis of variance was conducted to explore the impact of age, gender, marital status and income on relative body weight loss. It was found that there was no statistically significant interaction effect.
4. Conclusion
This study will be used as a national community intervention programme to combat obesity in Malaysia.
At the same time, this research will contribute to new information on obesity management in Asia Pacific region, which is rather limited at this moment.
References
Bosy-Westphal, A., Geisler, C., Onur, S., Korth, O., Selberg, O., Schrezenmeir, J. & Muller, M.J. (2006). Value of body fat mass vs anthropometric obesity indices in the assessment of metabolic risk factors.
International Journal of Obesity, 30(3), 475-483.
Flegal, K.M., Caroll, M.D., Ogden, C.L. & Curtin, L.R. (2010). Prevalence and trends in obesity among US adults, 1999-2008. Journal of the American Medical Association, 303(3), 235-241.
Fryar, C.D., Gu, Q. & Ogden, C.L. (2012). Anthropometric reference data for children and adults: United States, 2007-2010. Vital and Health Statistics, 11(252), 1-48.
Hubert, H.B., Feinleib, M., McNamara, P.M. & Castelli, W.P. (1983). Obesity as an independent risk factor for cardiovascular disease: a 26-year follow-up of participants in the Framingham Heart Study.
Circulation, 67, 968-977.
Janssen, I., Katzmarzyk, P.T. & Ross, R. (2004). Waist circumference and not body mass index explains obesity-related health risk. American Journal of Clinical Nutrition, 79(3), 379-384.
Lohman, T.G., Roche, A.F., Martorell, F., eds. (1988). Anthropometric standardization reference manual.
Champaign, IL: Human Kinetics Books.
Mohd Salleh Aman et.al (2014): Laporan akhir kajian budaya bersukan dalam kalangan masyarakat Malaysia. Putrajaya: Kementerian Belia dan Sukan. Incomplete information
Organisation for Economic Cooperation and Development (OECD). (2014). Obesity rates rising: 10 fattest countries in the developed world. Updated March 2014. Retrieved from http://www.oecd.org/els/health-systems/theeconomicsofprevention.htm.
Rexrode, K.M., Carey, V.J., Hennekens, C.H., Walters, E.E., Colditz, G.A., Stampfer, M.J., Willett, W.C. &
Manson, J.E. (1998). Abdominal adiposity and coronary heart disease in women. JAMA, 280(21), 1843-1848.
The Malaysian Insider (2014). Malaysia is Southeast Asia’s fattest country. Updated Nov 2014. Retrieved from http://www.themalaysianinsider.com/malaysia/article/malaysia-is-southeast-asians-fattest-country.
Wolin, K.Y., Carson, K. & Colditz, G.A. (2010). Obesity and cancer. Oncologist, 15(6), 556-565.
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World Health Organization (2013). Media centre. Obesity and overweight. Fact sheet No 311. Updated March 2013. Retrieved from http://www.who.int/mediacentre/factsheets/fs311/en/
World Health Organization (2015). Nutrition. Controlling the global obesity epidemic. Updated March 2015. Retrieved from http://www.who.int/nutrition/topics/obesity/en/
Yusuf, S., Hawken, S., Ounpuu, S., Bautista, L., Franzosi, M.G., Commerford, P., Lang, C.C., Rumboldt, Z., Onen, C.L., Lisheng, L., Tanomsup, S., Wangai, P. Jr., Razak, F., Sharma, A.M., Anand, S.S. &
INTERHEART Study Investigators. (2005). Obesity and the risk of myocardial infarction in 27,000 participants from 52 countries: a case-control study. Lancet, 366(9497), 1640-1649.
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Entrepreneurship Education in Sports: Issues and Challenges Payam Ansari, Solha Husin
University of Malaya payam.ansary@gmail.com
Abstract: Much has been said of the importance of entrepreneurship. Entrepreneurs are giving a helping hand to governments in job creation, economical, technological, and social development. The rise of entrepreneurs has already begun. Having agreed on the controversial statement of “Entrepreneurs are made, and Entrepreneurship can be taught”, universities have dipped their toes into the lake of entrepreneurship trying to shape their students as entrepreneurs. However, studies showmanyhave not been successful in this mission. Among academic disciplines, sports is one of those areas that despite enormous opportunities in the industry, along with graduate level knowledge and skills capable of improving daily lives of many, has produced fewer entrepreneurs than it intended; But why? The main reason, according to many experts, is that entrepreneurship education is not practical. The entrepreneurship courses are not productive and the content of such classes doesn’t make a strong bridge between academia and industries; the gap is still there! The question is what is a practical sport entrepreneurship course? Which instructional model is more beneficial for sport students in entrepreneurship classes? This study attempts to answer these questions.
Keyword: Entrepreneurship education, Sport Entrepreneurship, Small Business, Sport industry, Sports students
1. Introduction
The surge of new and innovative business start-ups has left a significant influence on the formation of entrepreneurship as a global phenomenon, showcasing its impact on economic growth. Their undeniable role in job creation and positive contributions to economy has earned entrepreneurial activities governments’ recognition. The association of entrepreneurship with profit orientation, capital investment and new markets creation (Cantillon, 1755; Schumpeter, 1934) has prompted economists to give entrepreneurship substantial credit for economic expansion (Cole, 1949, 1995; Weber, 1930).
Consequently, regarding entrepreneurship as a major engine for economic growth and job creation is not far-fetched (Wong, Ho and Autio, 2005; Engelen, Kube, Schmidt and Flatten, 2014; Lackeus and Williams Middleton, 2015). Doh and Kim (2014) believe, in the current knowledge-based economy, entrepreneurship has turned into one of the leading key players of sustainable economic development (Grossman and Helpman, 1994; Kirzner, 1997; Shane, 2000; Audretsch and Thurik, 2001; Baumol, 2002;
Acs et al., 2004; Baumol, 2004; Audretsch and Keilbach, 2004; Acs, 2006). Moreover, Dana (2001) points out, entrepreneurs, beyond their contributions to economic growth, improve industrialization through creating wealth and reducing unemployment. They directly impact national wealth through taxation, and through improving living standards they affect social well-being. So governments’ attempts in creating more entrepreneurs do not come as surprising.
Additionally, according to OECD (2000), Small and Medium-sized Enterprises contributes over 95% of companies and close to 70% of employment among its members. SMEs have changed the rules of play in economic performance, leading governments to put more faith in their contributions, as thanks to new technologies, the importance of the scale of economies are being reduced in many kinds of activities (Liesch and Knight, 1999; McIntyre, 2001; Berry, 2002; OECD, 2004; Kramer et al., 2007). Doh and Kim (2014) explain, policymakers should pay more attention to SMEs regarding productivity, industrial renewal, export growth and employment opportunities, as SMEs are now one of the most important sources of innovation and job creation in OECD area. Apart from financial incentives such as loans, tax reduction and import/export supporting policies, one way to bring entrepreneurs into the field is education.
Entrepreneurship Education: Many scholars, now, believe that entrepreneurship can be taught; this is no longer a topic of debate (Gorman, Hanlon & King, 1997; Kuratko, 2005; Drucker, 2006). Bae and Qian and Miao and Fiet (2014) conducted a comprehensive meta-analysis on entrepreneurship education literature. They further report that based on their meta-analysis, there is an association between entrepreneurship education and entrepreneurial self-efficacy in the literature, which in turn could have a
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role in enhancing entrepreneurial intentions (Wilson, Kickul, &Marlino, 2007; Zhao, Seibert, & Hills, 2005). In examining the literature, it appears that entrepreneurial self-efficacy is perceived to be the belief in one’s ability to undertake and execute various entrepreneurial tasks and roles with success (Chen et al., 1998; De Noble, Jung & Ehrlich, 1999; McGee, Peterson, Mueller &Sequeira, 2009) and is considered to be one of the triggers of entrepreneurial intentions (Chen et al.; De Noble et al.; Douglas, 2013; Fitzsimmons & Douglas, 2011; Krueger et al., 2000; Scott &Twomey, 1988; Segal, Schoenfeld, &
Borgia, 2007; Wang, Wong, & Lu, 2002). Moreover, Education has been identified as one of the key characteristics of entrepreneurship (Shane, 2000; Suddaby et al., 2015).Having agreed on the controversial statement of “Entrepreneurs are made, and Entrepreneurship can be taught”, universities have dipped their toes into the lake of entrepreneurship trying to shape their students as entrepreneurs.
Entrepreneurship education is defined by The Centre for Entrepreneurial Leadership Clearinghouse on Entrepreneurship (refer to www.celcee.edu) as the process in which an individual receives the knowledge and skills required for opportunity discovery, and the insight and capability to act and implement what is necessary to pursue that discovered opportunity which was overlooked by others. The definition of entrepreneurial education given by GEM 2012 Global Report (Xavier et al., 2012, p.35) is:
“The extent to which training in creating/managing new, small or growing business entities is incorporated within the education and training system at all levels”. However, Fayolle et al. (2006) explain, entrepreneurship education programs (EEP) are defined from various aspects, mainly as pedagogical courses that aim to increase entrepreneurial knowledge, skills and attitude and also development of certain personal qualities. Therefore, producing entrepreneurs might not be the main objective of an entrepreneurship education program. Although the EEP literature is growing, however the empirical evidence that support its effect on new businesses and entrepreneurial activities is still insignificant (Cox et al., 2002; Matlay, 2008). Scholars (Peterman and Kennedy, 2003; Shepherd, 2004;
Tan and Ng, 2006) believe recent development in entrepreneurship education methods and application are improving entrepreneurial skills and life goals among young nascent entrepreneurs (Peltier, Scovotti and Pointer, 2008).
Entrepreneurship Education Methods: Kuratko (2005) demonstrates that there are several pedagogical designs for entrepreneurship education and they vary from business plan to venture creation. Business planning is used by most courses because the process of drafting business plans intends to expose learners to sets of knowledge and skills that strengthens their entrepreneurial intentions (Becker, 1964;Honig, 2004; Youndt, Subramaniam, & Snell, 2004; Fayolle, Gailly, &Lassas-Clerc, 2006; von Graevenitz et al., 2010). On the other hand according to Lee, Chang, & Lim (2005) many universities opt for the venture creation focus in their entrepreneurship education. This approach intends to teach practical steps to creating mini companies (Rodrigues et al., 2012), and because it is done through a multi-functional implementation process it helps students develop skills needed in the entrepreneurial venture (Liñán, 2007). Additional apprenticeship training along with formal training by abstraction is supported by some scholars as they believe without it formal training has little value (Brown, Collins, &Duguid, 1989). Similarly, business guru, David Birch counts three skills that entrepreneurs must master in order to become successful: selling, managing people and creating new product and service. He argues that critical skills like managing people are not things that can be taught through formal training of business plan writing.
The learning-by-doing experience has received approval from education scholars. Repetition and experientation is said to increase the confidence of an entrepreneur in actions and enhance his/her knowledge (Minniti and Bygrave, 2001 p.7). It is further argued that this approach emphasizes venture creation consequently giving students practical experiences and skills which otherwise would be missing from business planning. Rasmussen and Sørheim (2006) reviewed five Swedish universities’ action oriented programs and found out many such programs emphasize learning-by-doing. One example that they bring up is the Chamars University of Technology in Gothenburg. In this university the designated program tries to get students actively involved in the start-up process, team composition, and venture formation. Audet (2000) argues that the best way for increasing entrepreneurial activities in students is affecting their perception of desirability and feasibility of starting venture, which in turn enhances their entrepreneurial intentions. Audet lets the participants choose between either a business plan or a field study. People in the business plan assignment were required to find a business idea, evaluate its commercial potential through market research and prepare a comprehensive business plan revolving the idea. The second choice, the field study, requires students to conduct an study about an entrepreneur, by 1) finding a cooperative entrepreneur, 2) collecting information about his venture’s external environment
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and industry, 3) conducting an interview with him covering his experience and his venture, 4) with the entrepreneurship and small business management theory in mind, analyse the information, and 5) write a report of their findings. The idea behind the interview was to provide the opportunity of private and intimate encounter with a genuine entrepreneur for students. As this project was a group project, students were divided in groups consisting of no more than five and each assignment would be counted towards more than half of the grade (55%). According to Gartner and Vesper (1994), a standard entrepreneurship course includes lectures, texts, use of case studies, entrepreneurs’ talk and presentations, business plan writing and the student entrepreneurship clubs.
Entrepreneurship in Sport Industry: Sport industry is divided into three separate segments by Pitts et al. (1994): sport performance, sport production and sport promotion.Hence, sport entrepreneurs seek opportunities in these fields and other industries which can be related to the abovementioned segments;
just to mention few, fitness clubs, gyms, goods and equipment manufacturers, sport media and advertising agencies, etc. The definition of sports entrepreneurship and the central role of innovation are of crucial importance because it is a relatively new field. Aside from the traditional coaching and teaching physical education, there are several other career paths available for people who venture into the world of sports. Thanks to Information Technology, now sport entrepreneurs can expand entrepreneurial opportunities from sport industry to other industries; computer games, wearable devices, sports application on smart phones, and so many other products and services are the outcomes of this. As Stier (1993) argued, for future sport professionals the need to have an extensive knowledge of business and necessary skills to handle challenges that rise in the business of sports is imperative. He further points out sports entrepreneurship as one of the areas where possible opportunities for employment lie.
Moreover,Ratten (2011) relates sports entrepreneurship to people or organizations in sports that bring about innovation in business and deliver something unlike what was previously done and known. The importance of entrepreneurship culture for entrepreneurial opportunities in sports is highlighted by Ratten (2012). There are common attributes and values among entrepreneurship and sports. They both seek economic and regional development. Innovation, risk taking, pro-activeness, initiative, and opportunity seeking are also a few of common traits that run in both fields.
As the numbers of sport entrepreneurs increases, the need among them to act more strategic and innovative to secure their position in the ever evolving and challenging economics of the modern era rises as well. Thus integration of sports management and entrepreneurship disciplines made its way into scholars’ agenda (Ratten, 2011). These entrepreneurs are often contributing to creation of social wealth through social and community activities and are not merely producing personal wealth (Ratten, 2012).
The background and experiences of sports entrepreneurs, and the amount of it they possess, is what determines their ability in identifying and deciding on opportunities (Ratten 2012). If they are observant and able to see new opportunities they can use innovation and creativity to clear the way for achieving desirable results.
Sport Entrepreneurship Education: For the current system of vocational education, one of the major challenges is to match what students learn, from knowledge and skills to behaviour and attitudes, to what the employment market requires (European Training Foundation 1999). Therefore, the responsibility lies on the shoulders of instructors to develop evolving curriculum standards that are capable of growing and adapting with the changes in the employment sector. The same principle applies in the sports industry, where the constant ever evolving nature of the industry requires instructors to be developing curricula accordingly to prepare students for what lies ahead in their careers. In the discussion of Sport education reform, Ge (2011) believes entrepreneurship education plays an important role. Indeed, with regard to difficulties and challenges in entrepreneurship and self-employment in sport industry, measuring the impact of entrepreneurship education was proposed as one solution. For that, three major measures were suggested, namely to build favourable culture of innovation and entrepreneurship in universities campus, to design new entrepreneurship education instructional models and finally to develop entrepreneurship education in Sport education service system. Sport literature, when it comes to entrepreneurship area, is very young and immature. There are studies that have focused on various aspects of Sport industry, such as development of human capital and competitive sports (Krueger &Neergaard, 2012), entrepreneurial attitudes and sport franchise: increase net income (Legg & Gough, 2012), entrepreneurial strategies and brand management theories (Miloch, Lee, Kraft &Ratten, 2012), relationship between exercise and the attainment of personal and professional goals for entrepreneurs (Goldsby, Kuratko & Bishop, 2005), sport mega-events as promoters of urban entrepreneurship (Hall, 2006), entrepreneurial systems (Spilling, 1996) and sport entrepreneurship,field and suggestions for further research (Ratten, 2012). What is