if not line: break Student Career Aspirations: the effect of year of study, gender and personality traits University

of Maastricht Faculty of Economics and Business Administration Maastricht, May 2009 Annette Smulders I448168 Master International Business 1st supervisor: Anita van Gils 2nd supervisor: Martin Carree Master Thesis 2 Executive summary Bonuses for top managers installing women in top positions , could be the headline of a newspaper today. Multiple companies acknowledge the lack of women in top positio ns and have signed agreements to stimulate the number of women in top management. Many theories have been identified as reasons for the shortfall of women and, in extension to current studies, this research will focus on the career aspirations to top management level or en trepreneurship of students. Ambition is a strong predictor of career success. The aim of this study was to examine the influence of year of study, gender and personality characteristics on career aspirations to top management level or entrepreneurshi p. This study hypothesized that the career aspirations of students would decrease with years o f study, that there are differences in career aspirations between female and male students and that these differences will increase with years of study. Moreover, it was hypothesized tha t personality traits had a positive influence on career aspirations, individually and as a sin gle factor construct. The hypotheses of this research were investigated on a sample of 336 self-reported questionnaires of female and male business and economics students. Exploratory f actor analysis, ANOVA and multiple regression analyses were used to test the research model. The results indicate that years of study has a negative effect on career aspirat ions to top management level or entrepreneurship, indicating that the career aspirations of students decrease when they advance their studies. Contrary to the hypothesis, no signifi cant differences were found between the career aspirations of female and male student s. Furthermore, the analyses revealed the positive influence of personal initiative , risk-taking propensity, competitive aggressiveness, autonomy orientation, need for achieveme nt, extraversion, openness to experience and conscientiousness on career aspirations of students, indicating that internal factors influence students ambition to top management le vel or to start an entrepreneurial business.

Altogether, the results of the study suggest that this research model can be use d to predict career aspirations of students. This model can provide companies and universitie s with a tool to predict potential talents and to invest and guide these students to top posit ions, especially female students. 3 Table of contents 1. INTRODUCTION ................................................................ ............................................................................ 5 1.1. INTRODUCTION OF TOPIC ..................................................... ......................................................................... 5 1.2. PROBLEM STATEMENT ......................................................... ........................................................................ 8 1.3. RELEVANCE OF THE TOPIC .................................................... ........................................................................ 8 1.4. RESEARCH METHOD ........................................................... ......................................................................... 9 1.5. STRUCTURE OF THE THESIS.................................................... ...................................................................... 9 2. LITERATURE REVIEW OF GENDER AND CAREER ASPIRATIONS .......................... ..................... 10 2.1. INTRODUCTION .............................................................. ............................................................................ 10 2.2. CAREER ASPIRATIONS ........................................................ ....................................................................... 10 2.2.1. Definition of career aspirations ........................................ ................................................................. 10 2.2.1. Top level career aspirations and entrepreneurial career aspirations ..... .......................................... 12 2.3. GENDER AND CAREER ASPIRATIONS ............................................. .............................................................. 12 2.3.1. Social structural theory and social role theory ......................... ........................................................ 12 2.3.2. Stereotype activation theory ............................................ .................................................................. 13 2.3.3. Socialization theory .................................................... ....................................................................... 14 2.3.4. Social-cognitive career theory .......................................... ................................................................. 14 2.3.5. Conclusion .............................................................. .......................................................................... 14 2.4. DETERMINANTS OF CAREER ASPIRATIONS ........................................ .......................................................... 15 2.5. CHANGES IN CAREER ASPIRATIONS ............................................. ............................................................... 17 2.5.1. Gender and year of study ................................................ ................................................................... 17 2.5.2. Career development theory................................................ ................................................................ 18 2.6. CONCLUSION ................................................................ ............................................................................. 18 3. PERSONALITY TRAITS .......................................................... .................................................................... 19 3.1. INTRODUCTION .............................................................. ............................................................................ 19 3.2. ENTREPRENEURIAL ORIENTATION................................................ .............................................................. 19 3.2.1. Introduction to the Entrepreneurial Orientation construct ...............

................................................ 19 3.2.2. Individual Entrepreneurial Orientation................................... .......................................................... 20 3.2.3. Dimensions of the Individual Entrepreneurial Orientation ................ ............................................... 20 3.3. ENTREPRENEURIAL TRAITS..................................................... .................................................................... 22 3.3.1. Internal locus of control ............................................... ..................................................................... 22 3.3.2. High need for achievement ............................................... ................................................................. 22 3.3.3. Risk-taking propensity .................................................. ..................................................................... 22 3.4. TOP MANAGEMENT TRAITS ..................................................... .................................................................... 23 3.5. A PERSONALITY TRAITS MODEL................................................. ................................................................. 25 3.5.1. Manager vs. Entrepreneur ................................................ ................................................................. 25 3.5.2. Overview of the personality traits ...................................... ................................................................ 25 3.6. CONCLUSION ................................................................ ............................................................................. 26 4. MODEL AND HYPOTHESES ........................................................ .............................................................. 27 4.1. INTRODUCTION .............................................................. ............................................................................ 27 4.2. MODEL ..................................................................... ................................................................................ . 27 4.3. HYPOTHESES ................................................................ ............................................................................. 28 4.4. RESEARCH MODEL ............................................................ ......................................................................... 34 4.5. CONCLUSION ................................................................ ............................................................................. 34 5. METHODOLOGY ................................................................. ........................................................................ 35 5.1. INTRODUCTION .............................................................. ............................................................................ 35 5.2. RESEARCH OBJECTIVES ....................................................... ....................................................................... 35 5.3. RESEARCH TYPE ............................................................. ........................................................................... 36 5.4. SAMPLE .................................................................... ................................................................................ . 37 5.5. DATA COLLECTION ........................................................... ......................................................................... 37 5.6. MEASUREMENT OF VARIABLES................................................... ................................................................ 38 5.6.1. Independent variables ................................................... ..................................................................... 38 5.6.2. Moderating variable ..................................................... ..................................................................... 42 4 5.6.3. Outcome variable ........................................................ ..................................................................... 42 5.6.4. Control variables ....................................................... ........................................................................ 43

5.7. CONCLUSION ................................................................ ............................................................................. 44 6. RESULTS ..................................................................... ................................................................................ .. 46 6.1. INTRODUCTION .............................................................. ............................................................................ 46 6.2. PRELIMINARY ANALYSIS ...................................................... ...................................................................... 46 6.2.1. Descriptive statistics .................................................. ........................................................................ 46 6.2.2. Career aspirations ...................................................... ....................................................................... 49 6.2.3. Individual Entrepreneurial Orientation................................... .......................................................... 50 6.2.4. Entrepreneurial Traits .................................................. ..................................................................... 51 6.2.5. Managerial Traits ....................................................... ....................................................................... 52 6.2.6. Control variables ....................................................... ........................................................................ 52 6.2.7. Ambition ................................................................ ........................................................................... 54 6.3. HYPOTHESES TESTING ........................................................ ....................................................................... 54 6.4. CONCLUSION ................................................................ ............................................................................. 59 7. DISCUSSION AND CONCLUSION ................................................... .......................................................... 60 7.1. INTRODUCTION .............................................................. ............................................................................ 60 7.2. DISCUSSION OF RESULTS ..................................................... ....................................................................... 60 7.3. LIMITATIONS & RECOMMENDATIONS FOR FUTURE RESEARCH ......................... .......................................... 64 7.4. IMPLICATIONS OF THE RESEARCH .............................................. ................................................................. 65 7.5. THESIS CONCLUSION ......................................................... ........................................................................ 67 8. REFERENCE LIST .............................................................. ......................................................................... 69 APPENDIX A QUESTIONNAIRE ....................................................... .................................................... 77 APPENDIX B PRINCIPAL COMPONENT EXPLORATORY FACTOR ANALYSIS ..................... 83 B.1. CAREER ASPIRATIONS ........................................................ ....................................................................... 83 B.2. INDIVIDUAL ENTREPRENEURIAL ORIENTATION .................................... ..................................................... 85 B.3. ENTREPRENEURIAL TRAITS .................................................... ................................................................... 86 B.4. MANAGERIAL TRAITS ......................................................... ...................................................................... 89 B.5. ROLE CONFLICT ............................................................. ........................................................................... 91 APPENDIX C NORMALITY TESTS ..................................................... ................................................. 92 C.1. CAREER ASPIRATIONS ........................................................ ....................................................................... 92 C.2. NORMALITY TESTS IEO .......................................................

...................................................................... 92 C.3. MANAGERIAL TRAITS ......................................................... ...................................................................... 93 C.4. ROLE CONFLICT ............................................................. ........................................................................... 93 APPENDIX D ANALYSES ............................................................ ............................................................ 94 D.1. ANOVA ROLE-CONFLICT CAREER ASPIRATIONS .................................... ................................................ 94 D.2. ANOVA NATIONALITY CAREER ASPIRATIONS ...................................... .................................................. 94 APPENDIX E ANALYSES ............................................................ ........................................................... 95 E.1. ANOVA - ROLE CONFLICT ..................................................... ................................................................... 95 E.2. ANOVA - ROLE MODEL ........................................................ .................................................................... 95 E.3. ANOVA - NATIONALITY ....................................................... .................................................................... 96 APPENDIX F CROSSTABULATIONS .................................................... ............................................... 97 APPENDIX G INDEPENDENT-SAMPLES-T-TEST .......................................... ................................... 99 5 1. Introduction 1.1. Introduction of topic Since 2003, women participation in businesses, universities and politics is a re turning news item in The Netherlands (www.elsevier.nl; www.intermediair.nl). Currently, a poi nt of discussion in the Dutch government is whether or not to take on a code or policy that instructs companies to have a certain percentage of women active in top positions. Several political parties are working on a new bill forcing companies to implement the proposed qu ota and threaten to shut down non-cooperative companies. These measures are very drastic , and clearly show the severity of this issue in The Netherlands. In America, the numb er of women in top executive positions is also a hot topic. Helfat, Harris and Wolfson (2006 ) studied the participation of women and men in the top Executive ranks of U.S. Corporations i n order to estimate the future women at top executive positions. Their findings show that t he percentage of women CEO s is relatively low, only 8,25% or 821 executives of the total of 9.9 50 executives are women. Furthermore, 48 percent of all Fortune 1000 companies had no women as executives (Helfat et al., 2006). The percentage of women as executives (i.e. in the board of directors) in compan ies in the Netherlands was 4,8% in 2007 (Van Riet, 2007). Although this percentage has not been measured yet in 2008, one can expect the percentage is still less then 10% today . Nowadays, the number of female students at university level does no longer stay behind the number of male students at universities (CBS,2008). Therefore, the education level of men

and women can be assumed to be the same. So, if education is no longer a factor for the la ck of women executives, than what are the reasons for the lack of women executives in large companies in the Netherlands? Several authors found identical reasons for the lack of women in top executive p ositions. Powell and Butterfield (1994) consider the glass ceiling effect as one of the reas ons why women do not reach executive levels. The glass ceiling phenomenon represents the obstacles women face on their way to the top level of organizations (Powell and Butterfiel d, 1994; McDonald, 2004). While the glass ceiling effect can exist at every level in the organization, nowadays this phenomenon is mainly used to explain the difficulties women face i n reaching the executive positions. Today, due to changing company policies and government guidelines, the glass ceiling effect is declining. Powell and Butterfield (1994) even state that 6 the glass ceiling does not exist anymore and women have favorable positions and may be subject to extra commitment in order to create equal opportunities within the co mpany. Despite today s change in company policies and tomorrow s government guidelines, the Grand Thornton International Business Report (2009) shows that 85 percent of all companies in the Netherlands still have no women in senior management positions. In compar ison, on a global level 34 percent of all companies still have no women in senior managemen t positions. Hence, the number of women at top positions in The Netherlands is ranked one of the lowest in the world. However, one could question whether the aforementioned glass ceili ng phenomenon is still the most prominent theory that explains this number of women as top executives? The media is focusing on a new explanation for the lack of women on top position s. Several newspapers and magazines dedicate articles, pages or even a whole magazine to th is subject: the (lack of) ambition of women (Fels, 2004). Despite the attention to this subj ect in the media, only a few academic articles are written on this subject. Additional rese arch on career aspirations and its determinants among students can clarify this subject. Hence, this paper will focus on individual factors (i.e. career aspirations or a mbition) and certain characteristics of people that will enhance the ambition to top manageme nt or to start an entrepreneurial business. Previous research by Judge, Cable, Boudreau and Bre tz (1995) found that executives who displayed a desire to get ahead (Judge et al., 1995, p. 509) are more likely to attain objective career success (i.e. measured by salary and prom otions). Researchers found a positive relationship between ambition and career success an

d, according to Judge et al. (1995), ambition can be considered one of the best predictors of career success (Cox and Cooper 1989; Judge et al., 1995). Additionally, Danziger and Eden (2007 ) argue that differences between the sexes in aspirations and career preferences can lea d to eventual differences in career accomplishment, even with the same education level. Firstly, career aspirations can be considered an important indicator of a future career, given that a lack of motivation and ambition will not lead to a top position. Since a high level of career aspirations does not solely predict career success within large organizat ions, but can also indicate an aspiration to become successful by starting an own entrepreneur ial business, this research will not only focus on aspirations to become a top manager, but al so includes the aspirations to become an entrepreneur of an independent business. 7 Career aspirations can be defined as a construct embodying individuals occupationa l identity and desired career goals (Danziger and Eden, 2006). Given the same level of education, career aspirations of male and female should be similar; however, sev eral authors concluded that occupational aspirations formed at the beginning of the education al process are subject to realism during the final stage of the educational process (Danziger a nd Eden, 2007). A number of studies reveal that women tend to temper their career aspirations du ring the final stages of their education (Harmon, 1989; Danziger and Eden, 2007). The concept o f career aspirations and its development over the years of study is worth exploring in fu rther detail. Additionally, people need to have a drive to reach the top in the organization o r to start an entrepreneurial business. Besides experience and knowledge, people need to posse ss certain characteristics to reach the top executive level or to start an entrepreneurial business. For example, Dulewicz and Herbert (1999) found that the majority of the senior manag ers are more likely to take risks, are more decisive and forceful and show more energy a nd initiative. Furthermore, Lumpkin and Dess (1996, 2005) developed the entrepreneurial orienta tion construct, which refers to a frame of mind and a perspective about entrepreneursh ip (Dess and Lumpkin, 2005, p.147) or a mindset that is necessary to make progression. Lu mpkin and Dess (1996) identified five dimensions of the Entrepreneurial Orientation: innov ativeness, proactiveness, autonomy, competitive aggressiveness and risk-taking (Lumpkin and Dess, 1996; Richard et al. 2004). Although the Entrepreneurial Orientation is usually used to measure a corporate environment, Krauss et al. (2005) expanded the original entr epreneurial

orientation construct to a psychological concept in order to focus on an individ ual (i.e. entrepreneur or manager). The individual entrepreneurial orientation adds two ne w variables to the original construct: namely the learning and the achievement orientation ( Krauss et al., 2005), and can be used to identify an entrepreneur that is more likely to have a successful business. However, the individual entrepreneurial orientation model is not the only model that evaluates individuals characteristics. Two other models frequently used to assess individua ls personality characteristics in order to identify the prospective entrepreneurs a nd/ or managers are the entrepreneurial traits model and the five factor model. One could argue that the personality characteristics have an influence on the ca reer aspirations of both male and female students, however this relation has been largely overloo ked. 8 1.2. Problem statement As aforementioned, many authors concentrated on the reasons for the lack of wome n on top management positions (Powell and Butterfield, 1994; Reinhold, 2005). Despite the importance of ambition in order to reach top level management or to start an ent repreneurial business, only a few authors addressed this issue (Powell and Butterfield, 2003; Danziger and Eden, 2007; Litzky and Greenhaus, 2007). However, ambition can be considered a c rucial element in career attainment, in view of the fact that people who do not aspire to a top management position or to start an entrepreneurial business, will not aim to rea ch that position and, consequently, settle for other options. Taken this into account, the purpose of this study is to investigate the influen ce of year of study and gender on career aspirations, as well as the influence of the personal ity traits on gender and career aspirations. Hence, the problem statement of this thesis is: What is the effect of year of study, gender and personality characteristics on t he career aspirations to top management level or to start an entrepreneurial business? In order to research this question, the thesis will consist of a review of the r elevant literature and an empirical research part. In order to gain a comprehensive insight in the existing literature and to answer the problem statement, the following sub-questions will be addressed: 1. What are the determinants of career aspirations? 2. Specifically, what is the relation between year of study and career aspiratio ns? 3. What is the influence of gender on the relation between year of study and car eer aspirations? 4. Which personality traits can be used to predict high career aspirations? 1.3. Relevance of the topic The aspirations throughout the years of study of students, both male and female, and the

personality traits, can contribute to a model in order to identify future top ex ecutives or entrepreneurs during the years of university. This study will investigate studen ts, both male and female, from different study years in order to identify a pattern of career aspirations. Incorporating personality traits can replenish the model. This model can be used by both 9 universities and companies to identify the prospective top executives or entrepr eneurs in order to invest in these students and subsequently, the potential talents, women and m en, can be prepared and guided towards their goals. 1.4. Research method This thesis will consist of two parts in order to investigate the problem statem ent. First, the existing literature will be reviewed and secondary data will be used to provide a solid, theoretical background for the hypotheses. Secondly, the hypotheses will be cons tructed in the second part of the thesis, which will entail the empirical research. The depende nt variable of this research is career aspirations to top management level or to start an entre preneurial business of university students in order to identify potential top managers/ ent repreneurs. Year of study and personality characteristics are the independent variables of t his research. Gender is both a moderating and an independent variable. Several instruments are used to test the aforementioned variables. The sample contains university students from the f our years of study. To collect the data for this research, a self-reported online questionnai re is filled out by the students. 1.5. Structure of the thesis As stated before, this thesis comprises two parts. The first part of the thesis consists of the literature review, whereas the second part contains the empirical research. First, the literature review includes two chapters, starting with chapter two. C hapter two will contain the theoretical background of career aspirations and will elaborate on t he history, definition and scope of career aspirations. Furthermore, this chapter discusses the influence of gender and year of study on career aspirations of students. The third chapter ex plains the individual entrepreneurial orientation construct, the entrepreneurial traits and the managerial personality traits. Moreover, the literature review leads to the formation of th e hypotheses and the introduction of the research model; the basis of the empirical research as e laborated upon in chapter four. Subsequently, chapter five contains the methodology description which is used to test the hypotheses of the research. The data are analyzed in the sixth chapter and the results are explained. In addition, the results are interpreted and discussed in the seventh

chapter. Finally, the implications and limitations of the research and the recom mendations for future research are discussed and are followed by a conclusion. 10 2. Literature review of gender and career aspirations 2.1. Introduction This chapter introduces the background of career aspirations and its relation to gender. It starts with an overview of the definitions of career aspirations and a formulati on of career aspirations as used throughout this paper. Furthermore, the relation between gen der and career aspirations will be elucidated using several established theories from the liter ature. The chapter continues with the determinants of career aspirations in order to unders tand the concept and its variables. In addition, the theoretical background of the change s in career aspirations during college years will be discussed. Finally, a conclusion of the chapter is drawn. 2.2. Career aspirations In this section, the definition of career aspirations, based on Gottfredson s (198 1) article on the development of career aspirations will be discussed. 2.2.1. Definition of career aspirations Throughout the years, career aspirations have been described differently by seve ral authors. Gottfredson (1981) wrote an article about the development of occupational aspira tions and she identified four stages of development throughout childhood years. The first stage (age 35) is orientation to size and power, followed by the orientation by sex roles (a ge 6-8). The third stage is the orientation to social valuation at age 9-13. The fourth and f inal stage is the orientation to the internal, unique self, starting from the age of 14. Although this paper will address university students (age approximately 18-25), and additional factors de termine the career aspirations, Gottfredson emphasizes the importance of childhood in future occupational aspirations. Gottfredson also identified two types of aspirations: the realistic aspirations and the idealistic aspirations. This theory is used by many authors during the formu lation of their definition of career aspirations (Powell and Butterfield, 2003; Danziger and Ede n, 2006; Litzky and Greenhaus, 2007). According to Danziger and Eden (2006), career aspiration is a construct embodying individuals occupational identity and desired career goals (Danziger and Eden, 200 6, p.115). They also argue that career aspirations are linked to individuals expectat ions of occupations and jobs and the perceptions of the individuals are ideas and judgment s, which are a product of a mental process of organizing, integrating, and recognizing ph enomena 11 (Danziger and Eden, 2006, p.115). In accordance with the theory by Gottfredson (

1981), this definition recognizes the idealistic aspirations (i.e. the desired career goals) and the development of career aspirations over years (i.e. mental process). The perceive d difference between these two types of aspirations is referred to as the expectation gap by Da nziger and Eden (2006). In accordance with the two different types of aspirations of Gottfredson (1981), Litzky and Greenhaus (2007) make a distinction between desired aspirations and enacted aspi rations, where enacted aspirations represent the behavioral manifestations of desired aspi rations (Litzky and Greenhaus, 2007, p. 639). Although this shows similarities with the two components of Gottfredson, the realistic and idealistic aspirations, this defini tion shows a clear distinction between the attitudinal and the behavioral component (Litzky a nd Greenhaus, 2007). The attitudinal component is able to enact as motivation to reach a speci fic goal. Furthermore, the behavioral component of career aspirations comprises the actual plans and strategies in order to achieve the desired goals (Litzky and Greenhaus, 2007). Moreover, the research by Nauta, Epperson and Kahn (1998) investigated the predi ctors of higher level career aspirations (i.e. aspirations to a higher level within a spe cific field) and therefore adopted a slightly different definition of career aspirations. They de fine career aspirations as the extent to which people aspire to leadership or advanced positi ons within their chosen occupation (Nauta et al., 1998, p. 483). Litzky and Greenhaus (2007) have a similar definition of career aspirations which emphasizes the advancement to a h igher level (i.e. senior management level) within an organization in contrast to an aspirati on to a specific field. The aforementioned definitions of career aspirations have several items in commo n. First, career aspiration embodies at least two components, an attitudinal and a behavio ral component, whereby the attitudinal component represents the ideas and dreams (i. e. the idealistic aspirations) and the behavioral components the actual actions a perso n takes in order to fulfill the dream (i.e. the realistic aspirations). Second, career aspiration is a construct applicable on an individual and differs among people. Finally, career aspiration s stimulate individuals to work hard and dedicated in order to reach certain goals. Since th is thesis focuses on the ambition to reach top management level or to start their own busi ness, the integration of this type of aspirations is important, like Nauta et al. (1998) a lso included this type of aspiration in their definition of career aspirations. Therefore, in this thesis, the

definition of career aspirations used is a construct embodying an individuals dre ams and 12 desired career goals and the extend to which individuals intend to take action t o advance to a higher level within an organization or to start their own business (Nauta et al. , 1998; Powell and Butterfield, 2003; Danziger and Eden, 2006; Litzky and Greenhaus, 2007). 2.2.1. Top level career aspirations and entrepreneurial career aspirations Although gender differences in career aspirations is an extensively researched t opic in the academic literature (Danziger and Eden, 2007), ambition to aim for a top level c areer has not been researched comprehensively. Given that high career aspirations can either l ead to a top management position, but eventually also to an entrepreneurial career, this pape r will not make a distinction between managers and entrepreneurs. Hence, this paper will pr imarily focus on career aspirations to reach top level management positions or to start their own business in order provide more insight in this topic. 2.3. Gender and career aspirations Career aspirations have been studied regularly in the vocational literature, how ever, the majority of the literature focused on the aspirations to select a specific caree r (i.e. scientist, biologist, and engineer) (Harmon, 1989; Nauta et al., 1998). Throughout the year s, many authors researched gender-related differences in career aspirations from differe nt viewpoints and, therefore, several theories can be used to explain the gender differences ( Eagly and Wood, 1999; Danziger and Eden, 2007), namely the social structural and social ro le theory, the stereotype activation theory, the socialization theory and the social-cognit ive career theory. These perspectives will be discussed in the next sections. 2.3.1. Social structural theory and social role theory Social structural theory is a theory covering more sub theories regarding sex di fferences. The social structural theory states that there is a main cause for the sex differenc es; the concentration of men and women in different social roles. The most important the ory of the social structural theory in the context of gender differences in career aspirati ons is the social role theory. This theory to explain gender differences in behavior is developed by Eagly (Feingold, 1994; Eagly and Wood, 1999). The social role theory hypothesizes that sex differences in social behavior stem from gender roles, which dictate the behavio rs that are appropriate for males and females (Feingold, 1994, p. 430). Accordingly, the pers on s personality may change and, consequently, the responses to personality tests and items may change (Feingold, 1994). Eagly and Wood (1999) and Franke (1997) state that men and 13

women have a tendency to adjust their behavior according to the characteristics of the social role they occupy. Consequently, men have a tendency to enter masculine or male-d ominated occupations, while women tend to aspire to enter feminine or female-dominated oc cupations (Powell and Butterfield, 2003). Former researchers found differences between the aspirations of men and women, with men tending to aspire a male-dominated occupation, wherea s women tend to aspire a female-dominated occupation (McNulty and Borgen, 1988; Po well and Butterfield, 2003). Although the differences between aspirations of men and women reduce and more women enter male-dominated occupations, there are still a few wo men in top management positions (Powell and Butterfield, 2003). The processes of social rol e theory, unconsciously, influence the career aspirations of men and women to top manageme nt positions. Hence, gender differences in career aspirations to top management pos itions can be (partly) explained by the social role theory. 2.3.2. Stereotype activation theory Many scholars address gender stereotyping in relation to moving up the ladder wi thin organizations and entrepreneurial firms (Heilman, 2001; Heilman and Okimoto, 200 7; Gupta, Turban and Bhawe, 2008). Gupta et al. (2008) investigated what the impact of an implicit or explicit activation of gender stereotypes is on men s and women s intention to pursu e a traditionally masculine career and concluded that the activation of stereotypes indeed had impact on the intentions. Gender stereotypes are widely shared in cultures (Heil man, 2001; Gupta et al., 2008) and often affect behavior and attitudes of individuals by un conscious internalization of the stereotypes (Feingold, 1994; Eagly and Wood, 1999; Gupta et al., 2008). Subsequently, people are likely to behave according to the stereotype and perfor m tasks that are positively interconnected with their gender and tend to avoid tasks that are not interconnected with their gender (Heilman, 2001; Gupta et al, 2008). Furthermore , individuals are unconsciously influenced by well-known stereotypes if the stereotype is well -known in society (Gupta et al., 2008). Although there is not yet investigated, besides Gu pta et al. (2008), whether gender stereotyping has an effect on career aspirations of men a nd women, one could assume the stereotype activation theory can also have an influence on the gender differences in career aspirations for top level positions, because top managemen t positions can be considered achievement-related and therefore masculine (Gupta et al., 200 8). 14 2.3.3. Socialization theory

In accordance with the social role theory, the socialization theory also argues that gender differences in career aspirations are caused by processes during the life of men and women. However, the socialization theory states that a permanent gender identity is esta blished through the socialization processes people undergo in childhood (Franke, 1997, p. 920) and, contrary to the social role theory, gender will remain the primary social categor y that shapes people s values, perceptions, work-relates attitudes and behavior (Danziger and Ede n, 2007, p. 131). Therefore, it is very difficult to change gender identities and the correspondin g attitudes and behavior. As aforementioned, career aspirations also have an attitudinal compone nt and a behavioral component, and according to the socialization theory, changing attitu des and behavior learned through childhood is very difficult. Another resemblance betwee n the social role theory and the socialization theory is that people learn certain gender rol es in their childhood, which affect the values and attitudes towards work. Hence, the behavi or learned in childhood is likely to affect the career aspirations of women (Danziger and Eden , 2007). Subsequently, since these attitudes and behaviors are difficult to change, there remains a difference between the career aspirations of men and women. 2.3.4. Social-cognitive career theory Another theory trying to explain differences in career development is the social -cognitive career theory by Lent and Brown (1996). The theory helps to explain individual d ifferences in occupational choices, interest and performance by considering the individual as the active shaper of his or her experience (Lent and Brown, 1996, p.319). The theory also in cludes the effect of other individuals and aspects in the environment, like gender and ethn icity (Lent and Brown, 1996). Hence, there is an interaction between various variables. The soci al cognitive career theory argues there are three linked variables that can help individuals to control their own behavior: self-efficacy beliefs, outcome expectations, and personal goals (Len t and Brown, 1996, p. 312). Differences between gender in career aspirations are opera ted through the learning processes of the experiences that give rise to certain beliefs (i.e . role-modeling, stereotyping). 2.3.5. Conclusion In conclusion, there are many theories explaining the differences in career aspi rations between men and women. These theories can help to explain the final results of this pape r. Although 15 all the theories have different viewpoints, there is one common factor; the diff erences

between gender result from processes during a specific period in individuals live s, mostly childhood. Moreover, individuals are influenced by several factors during their lives that affect their ideas and choices. These determinants will be discussed in the next chapter. 2.4. Determinants of career aspirations In this section, the determinants of career aspirations will be discussed. Sever al authors investigated the factors that influence career aspirations of men and women (Nau ta et al., 1998; Wall, Covell and Macintyre, 1999; Powell and Butterfield, 2003; Gupta et a l. 2008). In order to understand the construct of career aspirations completely and to be abl e to explain the outcomes of this research, the determinants of career aspirations will be elucid ated. Social support A determinant of career aspirations is the social support of the individual from the environment. Wall et al. (1999) identified three different types of social suppo rt: family, peers and teachers (i.e. school). Family support has shown to have the most influence on the individuals perception of opportunity, especially for males (Wall et al., 1999). This in turn has an effect on the education and career expectations and aspirations of the in dividual. Peers and teachers showed to have an influence on the perception of opportunity, but o nly for women. Consequently, social support, although there are gender differences, has an (indirect) influence on the career aspirations of people. Career expectations Building on the stereotype activation theory, people learn specific roles, stere otypes and behavior fitting their gender type. According to these theories, people adjust t heir expectations. The effect of career expectations on the career aspirations has be en researched by Wall et al. (1999), and they found there is a significant relation between ca reer expectations and career aspirations. However, women tend to temper their aspirat ions as a result of their career expectations. Therefore, the relationship found by Wall e t al. (1999) is not a positive relationship. These authors explain this phenomenon to be influen ced by history and state that women believe there are limits on their expectations to the possi bilities to achieve top level positions. Hence, career expectations of women tend to have a negative 16 influence on career aspirations of an individual. However, career expectation is not the only determinant of career aspirations. Role modeling Another determinant of career aspirations is role modeling. According to the res earch of Nauta et al. (1998), role modeling has an effect on the (higher) career aspirati

ons of men and women. Following the social-cognitive career theory by Lent and Brown (1996), th e observation of role models is a learning process and can have an influence on ca reer outcomes (Nauta et al., 1998). A role model can be defined as a person whose life and acti vities influence another person in some way (Nauta et al., 1998, p. 484). Van Auken and Stephens (2006) build upon Wood and Bandura s (1989) theory and state that a role model can influence an individual in three ways. Above all, a role model influences throug h mastery of experiences (Van Auken and Stephens, 2006, p. 158) or, in other words, role model s can show repetitive success. Furthermore, an individual can learn from its role mode l by observation rather than from a direct contribution of the role model (Nauta et a l., 1998; Van Auken and Stephens, 2006). Finally, a role model is able to persuade an individu al that he/she is able to perform certain tasks and therefore give the person confidence. Van A uken and Stephens (2006, p. 158) call this social persuasion . These authors also state that role models have the ability to change attitudes and behavior of a person and, consequently, role models can change the perception of the person of its ability to be successful in a new business. One could assume that if the role model has the ability to change entrepreneurial in tentions, a role model could also change a person s career aspirations. Hence, role modeling can ha ve a positive influence on the career aspirations of individuals. Ability and self-efficacy Though many of the aforementioned determinants are environmental factors, this d eterminant of career aspirations highlights the importance of the individuals beliefs and c onfidence. Nauta et al. (1998) not only investigated the effect of role models on higher le vel career aspirations, but they also investigated the influence of ability on career aspir ations, mediated by self-efficacy. According to the social-cognitive theory by Wood and Bandura ( 1989) and Lent and Brown (1996), a person s ability has an influence on the career outcomes. Moreover, the grade point average of college students has shown to have a positive effect on the higher level career aspirations (Nauta et al., 1998). However, the ability of an indivi dual does not solely predict the higher level career aspirations, because the individual has t o believe his or 17 her ability to successfully execute tasks. Nauta et al. (1998) and Lent and Brow n (1996) refer to this as self-efficacy. Therefore, Nauta et al. investigated the ability-selfefficacy pathway to influence higher level career aspirations and demonstrated that self-efficacy in deed mediates the relationship between ability and career aspirations. Thus, the ability of a

person has an influence on the career aspirations, but is mediated by the person s self-efficacy . In conclusion, there are many factors that have an influence on career aspiratio ns of individuals. All these different determinants play an important role for the fut ure of the individual. Although many factors are environmental and learned over time, caree r aspirations of people can still be adjusted over time, since people gather new information, meet new people and learn new perspectives. The next part of this chapter will address ch anges in career aspirations over time. 2.5. Changes in career aspirations The construct of career aspirations is subject to change, since people adjust th eir expectations and goals over time. In this thesis, the change of career aspirations throughout university years will be investigated. This part of the chapter will elucidate upon gender and career aspirations and explains the relevance of the career development theory (McNulty and Borgen, 1988; Lent and Wortington, 1999). 2.5.1. Gender and year of study Danziger and Eden (2007) investigated whether the occupational aspirations of bo th male and female students changes throughout college. While the career aspirations in the first college year are identical among male and female students, they found a decrease in care er aspirations over the following study years, with a stronger decrease of the career aspiratio ns of the female students. McNulty and Borgen (1988) also state that occupational aspirations go through various stages. The decrease of the career aspirations of women can explain the lack of women at top management positions. Several authors addressed this issue and foun d changes among career aspirations to top management of men and women (McNulty and Borgen, 1988; Harmon, 1989; Powell and Butterfield, 2003; Danziger and Eden, 2007). In accordance with the results from the study by Danziger and Eden (2007), one c ould assume that the career aspirations to top management are similar among male and female first-year university business students. First year students do not yet have realistic idea s about their future occupation and therefore often aspire occupations with high status and re sponsibility, 18 thus have aspirations to top management positions. However, during the following study years, people become more familiar with the business world and the responsibilit ies of top management positions and reassess their situation, which can result in an adjust ment of their career aspirations. Their previous aspirations can be seen as unrealistic or nave (Harmon, 1989; Danziger and Eden, 2007). Additionally, one could argue that female studen

ts during their final year (i.e. the master program) may realize the future conflict betwe en work life and family and adjust their expectations. Thus, this realism can result in a change of career aspirations, and as aforementioned, especially among female students. This pheno menon is also called the career development theory (McNulty and Borgen, 1988), which will shortly be discussed in the next section. 2.5.2. Career development theory Although the career development theory is a very broad theory and has several ap proaches (Lent and Worthington, 1999), this theory can be used to disentangle the aforeme ntioned phenomenon. Career development theory assumes that individuals career aspirations become more realistic and crystallized as they approach their senior year in sch ool (McNulty and Borgen, 1988, p. 219). According to Gottfredson (1981), people adjust their vocational aspirations by the job accessibility factors and the perception of opportunity. The job accessibility factors mostly affect the implementation and not necessarily the f ormulation of aspirations. However, the perception of opportunity does have an effect on the a spirations in that the individuals will adjust their aspirations according to their perception op opportunity. The perception of opportunity and the perceived barriers are expected to have an influence on the career expectations and therefore on the career aspirations of individuals ( Gottfredson, 1981). Consequently, people will reflect their possibilities and preferences and will not waste time on poor bets (Gottfredson, 1981, p.570). People often need to compromise as t hey discover the barriers to their preferences. Subsequently, this reality check cau ses women to adjust their career aspirations in order to provide a compatible match with marri age and family responsibilities (Whitmarsh et al., 2007, p.231). 2.6. Conclusion This chapter discussed in depth the definition of career aspirations, the main t heories explaining gender differences in career aspirations, the determinants influencin g aspirations and the reason for changes in career aspirations during university years. Finall y, throughout the chapter it has become clear there are many factors influencing career aspira tions. 19 3. Personality traits 3.1. Introduction In the previous chapter, the relation between gender and career aspirations is d iscussed extensively. In this chapter, the relation will be complemented by a new variabl e; the personality traits. To define this new variable, a construct will be developed b y combining the entrepreneurial orientation literature, the entrepreneurial traits literature an

d the top management literature. From this broad range of literature, the most suitable va riables will be subtracted. In the following sections, different types of personality models wil l be discussed and evaluated to identify the personality traits that are more predictive of hig h career aspirations than other traits. Personality traits are propensities to act. Differ ent propensities may facilitate or impede business owners actions and behaviors. Therefore, we ass ume that personality traits are predictors of entrepreneurial behavior (Rauch and Frese, 2 007, p.355). Following the reasoning of Rauch and Frese (2007) one could assume that personal ity traits also predict the behavior of managers. 3.2. Entrepreneurial Orientation In order to identify personality characteristics to enhance the career aspiratio ns to top management level positions, the individual entrepreneurial orientation will be u sed. First, the entrepreneurial orientation construct is elaborated upon and the five dimensions are discussed. Moreover, the psychological concept of the EO and the two additional dimensions are clarified. 3.2.1. Introduction to the Entrepreneurial Orientation construct Lumpkin and Dess (1996, 2005) developed the entrepreneurial orientation (EO) con struct, derived from the strategic management literature, to access the processes, practi ces, and decision-making activities that lead to new entry (Lumpkin and Dess, 1996, p. 136 ). The EO is a strategy-making practice and represents the intentions and actions of the m ost important persons within the firm, often the entrepreneur. The EO of a firm is often used to predict or explain the success of the new venture. The entrepreneurial orientation construc t is composed of five dimensions; innovativeness, proactiveness, risk-taking, competitive aggr essiveness and autonomy. Although a firm does not need to exceed in every dimension, the fi ve dimensions interact together to enhance the performance of the firm. Hence, a fi rm that 20 exceeds in every dimension is expected to reach a high performance level (Dess a nd Lumpkin, 2005). 3.2.2. Individual Entrepreneurial Orientation Though this paper will not focus on firm-level behavior, the entrepreneurial ori entation can be used as an initial concept to assess characteristics of people. Krauss et al. (2 005) did exactly this and turned the entrepreneurial orientation construct into a psychological c oncept; the individual entrepreneurial orientation. These authors state that the EO is basic ally a psychological evaluation of an individual (i.e. the entrepreneur), since the EO is measured by

self-reports of individuals. The psychological concept of the EO stresses the imp ortance of the owner/manager/founder of a firm (Krauss et al., 2005, p. 317), since this per son is responsible for the strategy and the decision-making of the firm. Krauss et al. (2005) added two dimensions to the original five dimensions (i.e. learning orientation and ac hievement orientation) and investigated the relationships between the individual EO and bu siness performance. The different dimensions and the effect on business performance wil l be discussed in the next section. 3.2.3. Dimensions of the Individual Entrepreneurial Orientation Innovativeness Innovation is an important factor for an entrepreneur, because it can provide th e firm a competitive advantage. Innovativeness implies that one has a positive mind-set to wards new ideas with regard to products, services, administration, or technological proces ses (Krauss et al., 2005, p.320). Hence, the entrepreneur or manager needs to be open-minded an d welcome new ideas in order to maintain the competitive advantage and, consequently, a hi gh business performance level. Proactiveness/ personal initiative Personal initiative is a proactive, self-starting, and persistent orientation tha t attempts to shape environmental conditions (Krauss et al., 2005, p.321) and is an extension o f the original proactiveness dimension. The business owner or manager needs to seize n ew opportunities and anticipate to (future) changes in the environment. An orientat ion that looks forward is important to maintain the competitive advantage and, therefore, a suc cessful business (Dess and Lumpkin, 2005). 21 Risk-taking Although there is little evidence for the positive relationship between risk-tak ing propensity and business success, a risk-taking orientation is assumed to be necessary to su rvive in a competitive environment (Krauss et al., 2005; Dess and Lumpkin, 2005; Kropp et a l., 2006). According to Krauss et al. (2005), risk-taking orientation will help the entrepr eneur to take on inevitable risks and challenges. Therefore, taking risks can be assumed to bring companies a step forward. Competitive aggressiveness Competitive aggressiveness refers to a firm s effort to outperform its industry riv als (Dess and Lumpkin, 2005, p.151). On an individual level, the entrepreneur should enjoy the competition and needs to have a drive to win the battle. From this viewpoint, co mpetitive aggressiveness is necessary to have a successful business performance. Autonomy orientation

An autonomy orientation highlights the importance of the individual decision mak ing and the dislike of following orders top-down. Managers and entrepreneurs with a high aut onomy orientation are motivated to fulfill their own dreams, ideas and visions (Krauss et al., 2005). Learning orientation In the past decade, learning orientation has become more important within compan ies. Learning implies the development of more adequate mental models and is crucial to making successful decisions (Krauss et al., 2005, p. 319). People learn from their exper iences and can use that information to prevent the same mistakes in the future. Since there are many topics that are not addressed during university, they need to learn from the exp eriences in the field independently to succeed in business (Krauss et al., 2005; Kropp et al., 2 006). Achievement orientation To reach certain goals, like a successful business or top position, people need to have a certain drive. Achievement orientation represents this drive to focus on a dream and wor k hard to reach it. According to Krauss et al. (2005) people with an achievement orientati on are better in non-routine tasks and will take responsibility for their actions and results. They will try to improve themselves and set high goals, which will lead to better performances. 22 In conclusion, the seven dimensions of the psychological entrepreneurial orienta tion can be used to assess characteristics of individuals. In this thesis, the individual en trepreneurial orientation will be used to assess the characteristics of students that enhance the career aspirations to top management level or to start their own business. 3.3. Entrepreneurial traits Although there are mixed empirical results of the influence of personality chara cteristics on entrepreneurial activity, recent research tries to show the importance of person ality characteristics on entrepreneurial intentions and success (Korunka, Frank, Luege r and Mugler, 2003). Therefore, the three most relevant personality traits of entrepre neurs will be discussed shortly. 3.3.1. Internal locus of control According to the theory of locus of control, there are two types of individuals; the internals and the externals. On the one hand, the externals believe that they cannot contr ol everything and many things happen as a result of fate or luck. On the other hand, the inter nals believe they can control the future through their own actions. Obviously, entrepreneurs need to be internals, since they need to believe they can change the future of the business and be successful. Therefore, one could assume an entrepreneur has an internal locus of control

(Begley and Boyd, 1987; Dollinger, 2003). 3.3.2. High need for achievement In accordance with the achievement orientation of the individual entrepreneurial orientation, a high need for achievement means a desire to set their own goals, solve their own problems and to receive feedback on their performance (Dollinger, 2003). Furthermore, the y like to reach their goals by using their own capacities. Entrepreneurs would be more lik ely to set up their own challenging goals and will work hard to achieve these goals (Begley an d Boyd, 1987; Wu, Matthews and Dagher, 2007). 3.3.3. Risk-taking propensity According to Dollinger (2003) and Begley and Boyd (1987), an entrepreneur can be considered as a risk-taker, since starting a new venture brings along many risks and uncertainties. However, researchers have failed to provide empirical evidence fo r the risk23 taking propensity of entrepreneurs. Research shows no difference between the ris k-taking propensity of entrepreneurs and managers (Dollinger, 2003). In conclusion, the three entrepreneurial traits as states above are frequently u sed to identify entrepreneurs (Dollinger, 2003) by their characteristics. In order to identify t he personality traits that have a positive influence on career aspirations, this thesis will te st the three entrepreneurial traits of students. 3.4. Top management traits Finally, in order to compose a new personality traits construct, personality cha racteristics need to be identified from the top management literature. Although there is a br oad range of research on top executives, there is limited research on the personality traits necessary to make it to the top level of organizations. Hambrick and Mason (1984) developed t he upper echelons theory in order to focus research on the top executives within organiza tions. The theory contains two parts. The first part of the theory states that executives ac t on the basis of their personalized interpretations of the strategic situations they face (Hambric k, 2007, p.334). The second part of the theory states that these personalized construals a re a function of the executives experiences, values and personalities (Hambrick, 2007, p.334). T he upper echelons theory thus recognizes the impact of personality on performance. Howeve r, this theory does not state which personality traits have a positive effect on the per formance. Therefore, in this paper, the five factor model or the Big Five will be used to identify important personality traits. The five factor Model as revived by McAdams (1992) is a frequently used personality measurement model in the economic literature. Though the five factor model has not been applied to top managers, Cannella and Monroe (1997) re commend

the use of this model for research on top managers. Therefore, in this paper the five factor model will be used to test the personality of students. The five personality dim ensions (neuroticism, extraversion, openness to experience, agreeableness and conscienti ousness) will be discussed shortly in this section. Neuroticism Neuroticism represents individual differences in adjustment and emotional stabili ty. (Zhao and Seibert, 2006, p.260). People with a high score on neuroticism are tense, ea sily frustrated and unable to deal with stress. Hence, these people have a tendency towards nega tive emotions (McCrae and Costa, 1991; Zhao and Seibert, 2006). Individuals with a lo w score on 24 neuroticism are relaxed, self-controlled and feel secure. Thus, they have a tend ency towards positive emotions (McCrae and Costa, 1991). Extraversion The personality dimension extraversion is the extent to which people are assertiv e, dominant, energetic active, talkative and enthusiastic (Zhao and Seibert, 2006, p.260). Ind ividuals with a high score on extraversion tend to be outgoing, fast-paced, cheerful and seek stimulation and social contact. People with a low score on extraversion are formal, prefers being alone, cautious and serious (McCrae and Costa, 1991). Openness to experience Openness to experience entails intellectual curiosity and the need to explore ne w ideas and experiences (Zhao and Seibert, 2006). People with a high score on openness are i maginative, sensitive, broad-minded and seek novelty and variety. Someone with a low score o n this dimension prefers familiar and routine, factually oriented, narrow in interest a nd avoids (day) dreaming (McCrae and Costa, 1991; Zhao and Seibert, 2006). Agreeableness Agreeableness assesses one s interpersonal orientation (Zhao and Seibert, 2006, p.26 1). Individuals with a high score on agreeableness are trusting, helpful, straightfo rward and have a tendency for positive interpersonal relationships. People with a low score on agreeableness are cynical, suspicious, manipulative and will not cooperate easily (Zhao and Se ibert, 2006). Conscientiousness Conscientiousness, or sometimes called Will to Achieve (Barrick and Mount (1991) , is the fifth personality dimension of the five factor model. An individual with a high score on conscientiousness shows motivation and responsibility, is organized and works ha rd. A person with a low conscientiousness score is unreliable, unorganized and aimless (Barrick and Mount, 1991; Zhao and Seibert, 2006). In conclusion, the five factor model or the Big Five will be used to identify th

e characteristics that increase the career aspirations of students. In contrast to the entrepreneu rial orientation and the entrepreneurial traits, this model has been tested on both managers and entrepreneurs. 25 3.5. A personality traits model In this section, the aforementioned personality traits will be evaluated and the most suitable characteristics for a research on career aspirations to top management or to sta rt an entrepreneurial business will be selected. These selected factors will be put to gether to form the new personality model. 3.5.1. Manager vs. Entrepreneur Although there is a significant amount of research on managers and entrepreneurs , there is little research that compares the two. To identify personality traits that moder ate the relation between gender, year of study and career aspirations to reach top management lev el or to start their own business, the most suitable characteristics of these two literature bo dies will be discussed. Entrepreneurs and managers show significant differences, however ther e are also similarities in personality traits (Malach-Pines, Sadeh, Dvir and Yafe-Yanai, 20 02). Since this paper has a focus on career aspirations of students to reach top level managemen t positions or to start their own business, the primary focus will not be on the differences be tween entrepreneurs and managers. The main objective of this research is to identify w hether certain personality traits have an influence on career aspirations. Therefore, one could assume the ambition level of students aspiring a top management positions or an entrepreneu rial firm is the same, given that a high level of career aspirations could lead to either a t op position within an organization or to starting a new entrepreneurial business. 3.5.2. Overview of the personality traits On the next page you can find the schedule of the personality traits as discusse d in the previous sections. 26 IEO Innovativeness Proactiveness/ personal initiative Risk-taking Competitive aggressiveness Autonomy Learning orientation Achievement orientation Entrepreneurial traits Internal locus of control High need for achievement Risk-taking propensity Top management traits Neurotiscism Extraversion

Openness to experience Agreeableness Conscientiousness Figure 1: Overview of the personality traits. 3.6. Conclusion This chapter discussed three personality traits constructs; the individual entre preneurial orientation, the entrepreneurial traits and the managerial traits. The personali ty traits of each of these construct was elaborated upon. Furthermore, the differences and similar ities between the ambition of top managers and entrepreneurs was discussed. Finally, an overvi ew of the personality traits constructs is given. 27 4. Model and hypotheses 4.1. Introduction After having presented the literature on career aspirations as well as the liter ature on personality traits, the model and hypotheses can be derived from the literature. This chapter will present the research model and the hypotheses of the thesis. 4.2. Model This study examines the relationship between year of study and career aspiration s, the influence of gender and the effect of several personality traits. The first mode l, as depicted in figure 1, investigates the relationship between year of study and career aspirat ions to top management level or to start an entrepreneurial business, moderated by gender. F urthermore, the relationships between the different personality models and career aspiration s will be examined. Figure 1: Research model However, before establishing this research model, the three personality trait co nstructs need to be tested separately in order to identify the most important personality factors and their Career aspirations to top management level or to start an entrepreneurial business. Year of study Gender Individual Entrepreneurial Orientation Entrepreneurial Traits Top Management Traits 28 interrelations. Hence, the personality trait models will be discussed separately before integrating them in the research model. 4.3. Hypotheses The problem statement of this thesis is: What is the effect of year of study, gen der and personality characteristics on the career aspirations to top management level or to start an entrepreneurial business? In order to find the answer to the problem statement, t he different literature bodies are discussed extensively and the concepts are elaborated upon

. However, in order to research the overall model and the separate relationships, an integrati on of the concepts is necessary. Thus, before discussing the research methodology, the con cepts will be integrated and hypotheses will be formulated. Firstly, chapter two has outlined the starting point of career aspirations and t he factors that can change the career aspirations of individuals. Following the reasoning of Dan ziger and Eden (2007), students tend to change their ideas and visions of the future durin g college, which will result in an adjustment of their career aspirations. This leads to th e following hypothesis. H1: Career aspirations of students will decrease with the years of study. Secondly, the question arises whether there will be a difference between male an d female students career aspirations. The theories discussed in chapter two originate from gender differences in career related issues. Due to many factors like stereotyping and social gender roles (Feingold, 1994; Eagly and Wood, 1999; Gupta et al., 2008) individuals are influenced during their lives, specifically their childhood years. Therefore, based on the aforementioned theories, there will be differences between genders in career aspirations. Follo wing the results of Danziger and Eden (2007), men are more likely to aspire a partnership or top position than women. Hence, the following hypotheses can be derived. H2: Male students will have higher career aspirations to top management level or to start an entrepreneurial business than female students. Furthermore, as aforementioned in chapter two, people need to compromise as they discover barriers to their preferences. This reality check often results in an adjustment of their career aspirations, since men and women seek a match with work, family and marriage responsibilities. This reality check is more radical for women, which leads to c hange of career 29 Innovativeness Personal initiative Risk-taking Competitive aggressiveness Autonomy Learning orientation Achievement orientation IEO Career aspirations to top management level or entrepreneurship H4a H4b H4c H4d H4e H4f H4g

aspirations (Whitmarsh et al., 2007), because women expect to face difficulties in combining family and work. H3: Differences between the sexes in career aspirations will increase with the n umber of years of study Additionally, chapter three elaborates on the personality traits expected to hav e an influence on career aspirations. Individuals with a higher score on certain personality tr aits are anticipated to score higher on career aspirations as well. Krauss et al. (2005) highlighted the importance of personality characteristics on performance. The first concept disc ussed in chapter three is the individual entrepreneurial orientation construct, which is depicted in the figure below. Figure 2: Individual Entrepreneurial Orientation construct; the effect of the di mensions of the IEO on career aspirations An innovative mind-set and a positive attitude towards new ideas and visions can he lp people to develop dreams of the future. If individuals enjoy having an influence on the en vironment and on other people, it seems reasonable to believe innovativeness has a positive in fluence on career aspirations to top management or entrepreneurship. H4a: The students innovativeness is positively related to career aspirations. Krauss et al. (2005) also found personal initiative to have a positive effect on business performance across all the measurement levels (i.e. individual and firm). Person al initiative/ proactiveness is a forward-looking variable and a forward-looking perspective ca n be 30 assumed to be necessary to have the aspirations to reach executive level or to s tart your own business. H4b: The students personal initiative is positively related to career aspirations . Lumpkin and Dess (1996) assume there is a relation between risk-taking and succe ss. Krauss et al. (2005) take on this assumption and argue that a positive risk-taking orie ntation helps to take on risks and challenges. To become a top executive manager or entrepreneur, people need to take on challenges and will face uncertain times. One could assume that individuals with a positive risk-taking orientation will have higher aspirations. H4c: The students risk-taking orientation is positively related to career aspirat ions. Furthermore, besides Krauss et al. (2005), competitive aggressiveness has not be en researched from an individual level. Although the results of Krauss et al. (2005) showed th at competitive aggressiveness is not part of the entrepreneurial orientation construct in all t ests, the results from the individual level demonstrate the positive influence of the dimension on business performance. Individuals with a high level of competitive aggressiveness want to

perform better than their competition and strive for victory (Krauss et al., 2005, p.320). One can assume this has a positive influence on their career aspirations. H4d: The students competitive aggressiveness is positively related to career aspirations. It seems reasonable to believe that an autonomy orientation has a positive influ ence on career aspirations. As aforementioned, managers and entrepreneurs with a high autonomy orientation are motivated to fulfill their own dreams, ideas and visions (Krauss et al., 200 5). Consequently, the autonomy orientation has a positive influence on career aspira tions. H4e: The students autonomy orientation is positively related to career aspiration s. The research by Krauss et al. (2005) investigated the relation between the indiv idual entrepreneurial orientation dimensions and business performance. Achievement ori entation, personal initiative and learning orientation all correlated significantly with b usiness performance. Learning has an influence on the behavior of entrepreneurs (Krauss et al., 2005) and because the career aspirations construct is partly behavioral, one could ass ume learning can have an influence on career aspirations. H4f: The students learning orientation is positively related to career aspiration s. One of the most important factor is achievement motivation, because if a manager or entrepreneur does not want to reach specific goals, like top management or an ow n business, they are not willing to work hard to reach those goals. According to Hambrick, F inkelstein and Mooney (2005), aspirations could be influenced by personality factors like n eed for 31 Internal locus of control High need for achievement Risk-taking propensity Career aspirations to top management level or entrepreneurship Entrepreneurial traits H5a H5b H5c achievement. Additionally, Krauss et al. (2005) found achievement orientation to be positively related to business performance. H4g: The students achievement orientation is positively related to career aspirat ions. The model as depicted below shows the relationship between the entrepreneurial t raits and career aspirations to top management level or entrepreneurship. Figure 3: Entrepreneurial traits construct; the effect of the entrepreneurial tr aits on career aspirations According to Hambrick, Finkelstein and Mooney (2005) and Miller, Kets de Vries a nd

Toulouse (1982), aspirations could come from an internal locus of control. Indiv iduals with an internal locus of control believe they can control the situation and the futu re. An internal locus of control enhances the idea that the individual can achieve anything, whi ch can enhance the career aspirations. Hence, internal locus of control has a positive effect on career aspirations and will be included in the model. H5a: An internal locus of control is positively related to career aspirations. As aforementioned, an achievement motivation or high need for achievement can le ad to higher career aspirations. According to Hambrick, Finkelstein and Mooney (2005), aspirations could be influenced by personality factors like need for achievement . Therefore, this results in the following hypothesis. H5b: A high need for achievement is positively related to career aspirations. As stated before, Lumpkin and Dess (1996) assume there is a relation between ris k-taking and success. Following the reasoning of the risk-taking orientation of the entrepren eurial orientation construct, the following hypotheses can be formulated. H5c: A students risk-taking propensity is positively related to career aspiration s. The model below shows the relationships between the different top management tra its and career aspirations. 32 Figure 4: Top management traits construct; the effect of the top management trai ts on career aspirations Although no study can be found looking directly at the relationships between a l ow level of neuroticism and career aspirations, it seems reasonable to believe that people w ith positive emotions and self-controlling characteristics believe they can achieve everythin g they want. Therefore, a low score on neuroticism can have a positive influence on career as pirations to top management or entrepreneurship. H6a: A low score on neuroticism is positively related to career aspirations. According to Barrick and Mount (1991), extraversion is a valid predictor of perf ormance criteria, specifically for management and sales occupations. Since a top manager and an entrepreneur are frequently involved with interaction and cooperation, extravers ion is an important indicator. Additionally, an individual with assertiveness, dominance, enthusiasm and an active attitude can be assumed to have higher career aspirations. H6b: A high score on extraversion is positively related to career aspirations. Openness to experience encompasses a need to explore new ideas and experiences, and intellectual curiosity (Zhao and Seibert, 2006). Barrick and Mount (1991) state that individuals with a high score on openness to experience will be more likely to b e motivated to learn from new experiences and therefore have higher career aspirations. H6c: A high score on openness to experience is positively related to career aspirations. Although Barrick and Mount (1991) found that agreeableness is not an important pr

edictor of job performance, even in those jobs containing a large social component (Barri ck and Mount, 1991, p.21), this does not provide an explanation for a negative relation ship between Neuroticism Extraversion Openness to experience Agreeableness Conscientiousness Career aspirations to top management level or entrepreneurship Top management traits H6a H6b H6c H6d H6e 33 agreeableness and career aspirations. Individuals with a high score on agreeable ness are trusting, straightforward and a tendency towards positive relations. People with a low score on agreeableness are cynical, suspicious and manipulative, which can not be cons idered characteristics of managers and entrepreneurs. Therefore, the following hypothes es can be derived. H6d: A high score on agreeableness is positively related to career aspirations. In accordance with a high need for achievement and achievement orientation, this dimension is expected to have a positive influence on career aspirations (Hambrick, Finkel stein and Mooney, 2005). H6e: A high score on conscientiousness is positively related to career aspiratio ns. The abovementioned hypotheses address the relationship between each personality characteristic and career aspirations. In order to test the overall personality trait construct, one can assume the elements of the construct are intuitively interrelated, in accord ance with the research by Krauss et al., 2005. An individual with a high achievement orientati on has an interest in learning from experience, in facing challenges in an innovative way and has a preference to work autonomously. (Krauss et al., 2005). Learning orientation and achievement orientation of an individual both imply that the individual seeks fo r feedback and is open to learn from experiences; therefore these individuals show personal ini tiative to achieve their goals. Following the research by Krauss et al. (2005), the individ ual entrepreneurial orientation as a single factor concept needs to be tested (Kraus s et al., 2005). Therefore, the following question arises: Research question 1: Do the components of the individual entrepreneurial orienta tion construct form a single factor construct? The concept as a single factor construct is also applicable to the entrepreneuri

al traits and the top management traits in order to test the effect of the constructs on career as pirations. Hence, the following two additional research questions can be formulated. Research question 2: Do the components of the entrepreneurial traits construct f orm a single factor construct? Research question 3: Do the components of the top management traits construct fo rm a single factor construct? 34 Career aspirations to top management level or to start an entrepreneurial business. Year of study Gender Individual Entrepreneurial Orientation Entrepreneurial Traits Top Management Traits H1 H2 H7 H8 H9 H4 H5 H6 H3 After establishing the three single factor constructs, the relationship between the three constructs and career aspirations to top management level or entrepreneurship ca n be investigated. Therefore, the following three hypotheses can be formulated. H7: The students individual entrepreneurial orientation is positively related to career aspirations. H8: The students entrepreneurial traits are positively related to career aspirati ons. H9: The students top management traits are positively related to career aspiratio ns. 4.4. Research model Finally, the following research model can be derived from the aforementioned hyp otheses (figure 5) Figure 5: Research model: The relationships between the year of study, moderated by gender and three personality traits constructs on career aspirations. 4.5. Conclusion This chapter proposed the hypotheses of this research and these relationship wer e depicted in the research model of this thesis. The next chapter will discuss the objectives, the sample of the research, the method of data collection and the measures of the variables. 35 5. Methodology 5.1. Introduction The preceding chapters have introduced the theoretical foundations that provide a deeper knowledge in career aspirations and personality traits. In the previous chapter, the hypotheses were formulated and the research model was presented. The empirical research of

this thesis will be based on this model and the accompanying hypotheses. This chapter will e xplain the process of the empirical research of the thesis. First, the research objectives will be explained, followed by the research type. Moreover, the sample and the data collection will be discussed. Furthermore, the control variables and the measures of the variables will be elu cidated. Finally, the chapter discusses the research methodology and ends with a short co nclusion. 5.2. Research objectives The empirical research in the following chapters will provide more insight in ca reer aspirations of students and the effect of year of study and gender on career asp irations and the role of personality traits on career aspirations. The focus of this thesis will be on answering the formulated hypotheses. These hypotheses form the basis of the empirical rese arch of the thesis and are stated below. 1. Career aspirations of students will decrease with the years of study. 2. Male students will have higher career aspirations to top management level or to start an entrepreneurial business than female students. 3. Differences between the sexes in career aspirations will increase with the ye ars of study. 4. a. The students innovativeness is positively related to career aspirations. b. The students personal initiative is positively related to career aspirations. c. The students risk-taking orientation is positively related to career aspiratio ns. d. The students competitive aggressiveness is positively related to career aspira tions. e. The students autonomy orientation is positively related to career aspirations. f. The students learning orientation is positively related to career aspirations. g. The students achievement orientation is positively related to career aspiratio ns. 5. a. An internal locus of control is positively related to career aspirations. b. A high need for achievement is positively related to career aspirations. 36 c. A students risk-taking propensity is positively related to career aspirations. 6. a. A low score on neuroticism is positively related to career aspirations. b. A high score on extraversion is positively related to career aspirations. c. A high score on openness to experience is positively related to career aspira tions. d. A high score on agreeableness is positively related to career aspirations. e. A high score on conscientiousness is positively related to career aspirations . 7. The students entrepreneurial orientation is positively related to career aspir ations. 8. The students entrepreneurial traits are positively related to career aspiratio ns. 9. The students top management traits are positively related to career aspiration s. Furthermore, the thesis will also focus on the three personality trait construct s; the entrepreneurial orientation, the entrepreneurial traits and the top management t raits. Therefore, the empirical research will also focus on the following research ques

tions. 1. Do the components of the entrepreneurial orientation construct form a single factor construct? 2. Do the components of the entrepreneurial traits construct form a single facto r construct? 3. Do the components of the top management traits construct form a single factor construct? 5.3. Research type Blumberg, Cooper and Schindler (2008) make a distinction between four types of r esearch, namely reporting, descriptive, explanatory and predictive studies. Reporting stu dies are considered the most basic studies, since they mainly summarize data or generate basic statistics. A more extensive study is a descriptive study, which tries to answer s questions like who, what, when, where and how (Blumberg et al. 2008). The main objective of a d escriptive study is to get a better understanding of the research subject. One step further than the descriptive study is the explanatory study. Explanatory studies try to explain r easons for phenomena discovered during the descriptive study and mainly answer questions su ch as why and how. In accordance with the explanatory study, the predictive study is also originated in theory (Blumberg et al., 2008). However, the predictive study is rooted in expla nation too. The focus of predictive research is to predict the future or the outcome of cert ain models; this in turn could lead to control certain phenomena in the future. 37 This research investigates how the different study years are related to the care er aspirations to top management level or to start an entrepreneurial business of male and female students. Additionally, it studies whether gender has an influence on this relation and di rectly on career aspirations (i.e. is there a difference in career aspirations of male and female students). Furthermore, it also studies the influence of personality traits on career aspir ations. The result of this research shows how the different variables are correlated, however, it c an not establish if there is a cause-and-effect relationship between the different variables. Yea r of study, gender and personality traits are surely not the only variables influencing the career aspirations to top management level or to start an entrepreneurial business. Hen ce, this research can qualify as a descriptive research. 5.4. Sample The participants in this study were students from the Faculty of Economics and B usiness Administration of the University of Maastricht. Samples were collected from stud ents in every year of study at the University. The students could assess the questions t hrough a link in emails and in announcements on EleUm, the blackboard system of the University of

Maastricht. The instruction was not only stated at the start of the questionnair e, but also between different sections of the questionnaire. Reversed scoring was used on se veral items to increase the participants attention. Participation in this study was on a volunta ry basis. A total of 336 participants completed the questionnaire, the uncompleted questio nnaires were excluded from the research. Of the 336 participations, 152 were female and 184 w ere male. Furthermore, 140 of the respondents were first year students (55 female, 85 male ), 86 were second year students (38 female, 48 male), 56 third year students (30 female, 26 male) and 54 master students (29 female, 25 male). The average age of the respondents was 20. 95 years with a minimum age of 17 and the maximum age of 28. The most students had a Germ an nationality (168 participants), 102 had a Dutch nationality and the remaining 66 students had other nationalities, for example Belgian and American. 5.5. Data collection The primary data collection was by means of a self-reported questionnaire on the internet. The data collection was at one point at the time, which implies that the data of the study is crosssectional. The students of the Faculty of Economics and Business Administration were asked to fill out a questionnaire with questions regarding their career aspirations, p ersonality traits and some additional questions regarding role modeling and role conflicts. The pa rticipation in 38 this research was voluntary. However, confidentiality and anonymity were guarant eed to increase the willingness of the students to participate in this research, and to sustain a high ethical standard. 5.6. Measurement of variables In order to develop the questionnaire for this research, various measurements en scales have been developed by several authors in order to measure the variables objectively. The measurements of the variables that are used in this research will be discussed i n the next section. 5.6.1. Independent variables The measurement of the independent variables of this research will be discussed in the next part. Year of study At the University of Maastricht, a full education including master program takes four years. The first three years is de bachelor program and the final and fourth year is th e master program. Therefore, four groups can be defined: a) The first year b) The second year c) The third year d) The master. Entrepreneurial traits

To assess the entrepreneurial traits of the participants, the items of the entre preneurial traits construct have been measured separately. Since they measure different personalit y characteristics researchers developed the instruments to measure the variables s eparately. The three entrepreneurial traits will be discussed shortly in the next section. Locus of control Locus of control measures to what extend the students believe in the ability to control their lives (Dollinger, 2003; Entrialgo et al., 2004). The original scale of locus of control as developed by Rotter (1966), also known as the I-E scale, has been used by many a uthors (Miller et al., 1982; Begley and Boyd, 1987; Carpenter and Golden, 1997). Althou gh the 39 reliability of this instrument has been proven, the 29-item instrument was too l arge for the purpose of this research. In order to increase the willingness of the students t o participate in this study, the items that measure the locus of control of the students have bee n derived from Entrialgo et al. (2000). Entrialgo et al. (2000) have taken the items from the o riginal Rotter (1966) scale and contains 6 items. Sample items include: When I make plans, I am sure they will work and Getting a good job mainly depends on being in the right place at the right time . The response scale for the items was a Likert scale ranging from 1 (strongl y disagree) to 5 (strongly agree). Two items are reversed scored to increase the participant s attention. Need for achievement In order to measure the need for achievement of the university students, the fou r-item scale as developed by Wu, Matthews & Dagher (2007) is used in this research. The cronbach s alpha of 0,86 indicates that this 4-item scale is a reliable instrument to measure nee d for achievement. The participants were asked to what degree they would agree with th e proposed statements, ranging from 1 (strongly disagree) to 5 (strongly agree). The four s tatements of this scale are: I need to meet the challenge; I need to continue learning; I need personal growth; and I need to prove that I can succeed (Wu et al., 2007, p. 934). Risk-taking propensity The risk-taking propensity is measured by using the Jackson Personality Inventor y, taken from the International Personality Item Pool or IPIP (http://ipip.ori.org/ipip/) . This 10-item scale is considered a valid instrument (Begley and Boyd, 1987) and has a cronbac h s alpha of 0,78. Using a five-point Likert scale, the participants were asked to what exten d they thought the statements are accurate. The response scale was from 1 (very inaccurate) to 5 (very accurate). Reversed scoring is used for several items. Sample items include: I en joy being

reckless, I stick to the rules and I am willing to try anything once . Individual Entrepreneurial orientation The seven items of the individual entrepreneurial orientation are assessed indep endently. The instruments used will be discussed in the next section. Innovativeness The innovativeness of an individual implies that one has a positive mind-set towa rds new ideas with regard to products, services, administration, or technological proces ses (Krauss et 40 al., 2005, p.320). Predominantly, the innovativeness is measured on firm-level, however, in this paper the innovativeness of a person is measured. Therefore, an adapted 3-i tem instrument composed by Wang (2008) is used. Since Wang (2008) also measured the firmlevel innovativeness, the 3 items are re-formulated to make them applicable to individ uallevel innovativeness. The response scale for the items was a five point Likert scale r anging from 1 (strongly disagree) to 5 (strongly agree). The three statements of this s cale are: I actively respond to adoption of new ways of doing things ; I am willing to try new ways of doing things and seek unusual, novel solutions; and I encourage people to think and behave in original and novel ways . Personal initiative In order to measure the personal initiative of the university students, the inst rument developed by Frese, Fay, Hilburger, Leng and Tag (1997) is used. This 7-item instrument co ntains statements to measure personal initiative by self-reported questionnaires and ha s a proven reliability (i.e. cronbach s alpha 0,84). Sample items include: I actively attack p roblems; usually I do more than I am asked to do; and I take initiative immediately even when others don t . The participants were asked to what degree they would agree with the stateme nts, ranging from 1 (strongly disagree) to 5 (strongly agree). Risk-taking The risk-taking propensity of the participants of this research is measured by t he Jackson Personality Inventory, taken from the International Personality Item Pool or IPI P (http://ipip.ori.org/ipip/). However, this scale is already in the questionnaire to measure the risk-taking propensity as part of the entrepreneurial traits construct. Therefor e, the results of this instrument will also be used to assess the risk-taking propensity as part o f the individual entrepreneurial orientation construct. Competitive aggressiveness Besides Krauss et al. (2005), competitive aggressiveness has not been measured o n an individual-level. The three-item instrument used to measure the competitive aggr essiveness of the students was thus based on the items used by Krauss et al. (2005). The instr

ument needed adjustment to make the questions appropriate for university students. The three items of the scale are: I always support my fellow students in attaining their goals (reversed scoring), I want to attain higher scores than my fellow students and I am happy as long as I do better 41 than other people . The competitive aggressiveness of the participants were measur ed by the responses to the three items by using a 5-point Likert scale. The higher scores indicate a high level of competitive aggressiveness. Autonomy The measure used to assess the autonomy of an individual is a three-item scale a s used by Langfred (2004) and had a Cronbach alpha of 0,84, indicating a reliable instrume nt. Sample item: I decide how to do my own work . The questions had response options from 1 (strongly disagree) to 5 (strongly agree) to be filled out by the participants. Learning Orientation There are only a few authors who operationalize a learning orientation scale, es pecially on an individual-level (Kropp, Lindsay & Shoham, 2006). Kropp et al. (2006) investigat ed the different scales to measure learning orientation and found a reliable four-item instrument (Cronbach alpha 0,82). Although this scale was also for firm-level learning orie ntation, a reformulation of the statements made the scale appropriate to measure on a indiv idual level. The response scale was from 1 (strongly disagree) to 5 (strongly agree). The ite ms of the scale are: The sense that learning is an investment not an expense; the basic values in clude learning as a key to self-improvement; once I quit learning; I will endanger my future and The ability to learn is the key to improvement . Achievement Orientation The achievement orientation of an individual, or also considered the need for ac hievement of an individual, can be measured by using the four-item scale as developed by Wu, Matthews & Dagher (2007). However, this item is already used to measure the need for achiev ement of the entrepreneurial traits construct. Therefore, the results of this 4-item scale wi ll also be used to evaluate the achievement orientation of the individual entrepreneurial orientati on construct. Top manager traits The top manager traits; extraversion, agreeableness (friendliness), conscientiou sness, neuroticism and openness to experience, were measured using a Dutch version of a standardized, reduced scale for the five factor model (van Eijk & de Graaf, 2004 , Gelissen and de Graaf, 2006). The five personality items were measured with a six items e ach, collectively a 30-item instrument. The students were asked to score the items on a five-point 42

Likert scale according to the degree they consider each item to provide an accura te description of themselves (van Eijk & de Graaf, 2004, p.33). The items of the que stionnaire of each item were the following: Figure 1: The 30 items of the instrument to measure the big five personality tra its.. (Van Eijk & de Graaf, 2004, p.33). * reversed items. 5.6.2. Moderating variable The moderating variable gender was coded 0 for women and 1 for men, since the female gender is taken as a starting point and is the reference category. 5.6.3. Outcome variable Career aspirations to top management level or to start an entrepreneurial busine ss Career aspirations to top management level or to start an entrepreneurial busine ss were assessed with a ten-item scale developed by O Brien (1996, 2007). The Career Aspir ation Scale (CAS; O Brien, 1996, Gray & O Brien, 2007) is developed to assess the individu als career goals and plans within their aspired occupational field (Nauta et al., 19 98; Gray and O Brien, 2007). Sample items: I hope to move up through any organization or busines s I work in and I would be satisfied just by doing my job in a career I am interested in (reversed score). The career aspirations of the participant were measured by the responses to the ten items by using a 5-point Likert scale from not at all true of me (1) to ver y true of me (5). Moreover, the range of the average scores is one to five, whereby the hig her scores indicate higher level of career aspirations. For several items reversed scoring was used to increase the respondents attention. Furthermore, two questions were added to the questionnaire to measure career asp irations to top management level or to start an entrepreneurial business. Students were aske d to answer the following question and choose one of the five options. 43 Eventually, I want to become A) An employee; B) An entrepreneur of an independent business; C) A middle-manager; D) A top manager; E) Other. Option B and D imply high career aspirations to top management level or to start an entrepreneurial business. Additionally, the students needed to answer a question whether their ambition ch anged over the past two years. The research is conducted at only one point in time and coul d therefore not investigate if the ambition changed during the years of study. Therefore, in ord er to get an idea of the career aspirations over time, this question was added to the researc h. 5.6.4. Control variables Control variables are used by researchers to make sure the results of the study

are not biased (Blumburg, Cooper & Schindler, 2005). The control variables can have an influenc e on the dependent variable, but since they are not the core of the research problem, not including them could bias the results. Consequently, control variables are used to decreas e the problem under investigation and it allows the researcher to account for other factors (B lumberg et al, 2005). In this research, two control variables are used: role modeling and role conflicts. These two variables will be elaborated upon in the next section. Other control variabl es in the research are age and nationality. Role models As stated in chapter two, role modeling is considered a determinant of career as pirations. The research by Nauta et al. (1998) showed that role modeling has an effect on the ( higher) career aspirations of men and women. In addition, the research by Van Auken et al. (200 6) demonstrates that role models have an influence on the entrepreneurial intention s of students. Therefore, role modeling can have an effect on the dependent variable of this re search; the career aspirations to top management level or to start an entrepreneurial busine ss. Thus, role modeling is included in this research as a control variable. In order to measure the influence of role modeling, two questions were added to the questionnaire, as used by Nauta et al. (1998) and Van Auken et al. (2006). The f irst question: Who had the most influence on your career-thinking over the past two years? , was 44 subtracted from the Influence of Role Model Scale (IRMS) developed by Basow and Howe (1980). The participants could choose one of the five answers: A) Family member; B) Teacher; C) Friend; D) Entrepreneur or E) Top manager. The second question was a lso based on the IRMS as used by Nauta et al. (1998) and Van Auken et al. (2006). The part icipants were asked to rate the overall influence on career-thinking of your aforemention ed role model during the formative years on a scale from 1 = no influence to 5 = influence a l ot. Role conflict As explained in chapter two, men and women are influenced by the social role the y occupy within the society (Franke, 1997; Eagly and Wood, 1999). According to the social role theory, sex differences in behavior can result from gender roles (Feingold, 1994). Conse quently, men and women can experience difficulties in combining social roles (i.e. work-life balance), also known as role conflicts. Hence, the outcomes of this research can be influenced by the social role theory, or more specifically role conflicts. Therefore, role conflict is in cluded as a control variable in this study.

To measure the extend to which role conflicts influence career-thinking, a seven -item instrument developed by Lips (1992) is used. This instrument measures the attitud es toward the compatibility, for women, of science careers with marriage and family respon sibilities (Lips, 1992, p.65). Since this paper focuses on top management careers or entrep reneurial careers, the questions are adapted to this purpose. Sample items: It is very diff icult for a woman to combine a career as an entrepreneur or top manager with a family life; a woman who is considering a career as entrepreneur or top manager should probably not p lan to have children and for women, there is nothing incompatible about planning both a fami ly and a top level career . Reversed scoring is used on several items. Participants were asked to what degree they agree with the statements on a five-point Likert scale ranging from s trongly disagree to strongly agree . 5.7. Conclusion This chapter has reviewed the empirical part of the research. The research objec tives have been resumed. In addition, the different types of research have been discussed a nd an explanation is given why this research qualifies as a descriptive research. Furt hermore, the sample of the research and the method of data collection have been discussed. Th e collection of data is through self-reported questionnaire by students from different years of study at the 45 University of Maastricht. The measurements of the variables are elaborated upon in this chapter and the control variables are also discussed shortly. The next chapter w ill show the results of the research and will analyze these results. 46 6. Results 6.1. Introduction This chapter will present the results of the hypotheses testing using the statis tical program SPSS version 16. The questionnaire completed by students from Maastricht Univers ity provided the data for the research. First, the descriptive statistics will be pr esented, followed by the preliminary analysis of career aspirations, the individual entrepreneuria l orientation construct, the entrepreneurial traits construct, the managerial traits construct and the control variable role conflict. Secondly, the results of the hypotheses testing are pres ented, followed by a short conclusion. 6.2. Preliminary analysis 6.2.1. Descriptive statistics Preliminary analyses were executed in order to ensure no violation of the assump tions normality, linearity and homoscedasticity. The results of the correlation matrix including

means and standard deviations are illustrated in figure 1. Gender is coded as a dummy variable with 0 for female and 1 for male. The bivariate correlation coefficients between the independent variables, the mo derating variable, the control variables and the dependent variable show different sized correlations. There was a positive significant correlation between the main construct of this research, career aspirations, and all variables of the model, with the exception of gender . High levels of the individual entrepreneurial orientation (IEO), the entrepreneurial traits con struct and the managerial traits construct were associated with higher levels of career aspirat ions. Additionally, the entrepreneurial traits construct and the managerial traits con struct were significantly positively correlated with the individual entrepreneurial orientat ion. The correlations between the control variables and the research variables indica ted that gender is negatively related to managerial traits, indicating that females had higher s cores on the managerial traits construct. Furthermore, gender is positively related to the en trepreneurial traits construct, indicating that males had higher scores on the entrepreneurial traits construct. 47 Another interesting outcome is the negative relation between year of study and c areer aspirations, indicating that the career aspirations of students decrease over th e years of study. Also the negative significant correlation between the control variable role conf lict and the entrepreneurial traits construct is indicating that students that had a low scor e on role conflict had a lower score on the entrepreneurial traits construct. Furthermore, national ity and the IEO were positively correlated, pointing out that Dutch students score lower on the IEO construct. In addition, the correlation between age and year of study showed that students who were older were further in their study, which is not a surprising result. Finally, ge nder showed a negative significant correlation with year of study, indicating that there are m ore women who are further in their studies. Role model influence showed to have a significant effect on all the research var iables, indicating that a role model has a positive influence on the career aspirations of students, especially when the role model is a top manager or entrepreneur. The tests of the control variable age did not produce any significant results, the refore, it can be concluded that age did not influence the results. As aforementioned, national ity and role conflict had significant correlation with a research variable, showing the influ ence of these variables. The following section of this paragraph investigates research question 1, 2 and

3 (i.e. do the components of the three personality constructs form a single factor construct?). 48 Figure 1: Means, standard deviations and correlations between all variables. Mean Std. dev. 1 2 3 4 5 6 7 8 9 10 1. Gender1 .55 .498 2. Year of Study 2.07 1.107 -.120* 3. Age 20.95 1.789 .063 .641** 4. Nationality2 1.89 .700 -.071 -.044 .065 5. Role model influence 5.91 1.505 .007 .084 .049 .025 6. Role conflict 2.84 .708 .061 -.088 -.027 -.049 -.059 (.82) 7. Career Aspirations 4.27 .619 .042 -.115* -.049 .082 .146** .071 (.67) 8. Individual Entrepreneurial Orientation 3.77 .342 .062 -.035 .086 .120* .126* .025 .452** (.80) 9. Managerial Traits 3.62 .339 -.115* -.010 .090 .011 .115* -.028 .415** .502** (.78) 10. Entrepreneurial Traits 3.68 .338 .156* -.074 .031 .077 .131* -.111* .317** . 632** .310** (.71) N= 336 Scale reliabilities (Cronbach s alphas) appear on the diagonal in parentheses. * Correlation is significant at the 0.05 level (2-tailed). ** Correlation is significant at the 0,01 level (2-tailed). 1 0= female, 1= male 2 1= Dutch, 2= German, 3= other. 49 6.2.2. Career aspirations The ten items of the Career Aspiration Scale developed by O Brien (1996, 2007) wer e subjected to principal component exploratory factor analysis (PCA). Prior to con ducting the principal component exploratory factor analysis, the suitability of the data for factor analysis was assessed. The correlation matrix revealed the presence of coefficients of .3 or over. The Kaiser-Meyer-Olkin measure of sampling adequacy (KMO) value was .699, a mediocre value according to Kaiser (1974), but well above the acceptable limit of .5 (Field, 20 09). Furthermore, the Barlett s Test of Sphericity showed a statistical significance (p <.001), indicating sufficient correlations between items for PCA. Both values support th e factorability of the correlation matrix. The principal component analysis with Oblimin rotation was run to attain eigenva lues for each item in the data. Three components had eigenvalues exceeding 1 and in combi nation explaining 52.375% of the variance. The scree plot (appendix B) showed a clear i nflexion that justified retaining three components. These results are in accordance with the r esults of Gray and O Brien (2007). A factor analysis with one forced factor revealed that eight i tems loaded to one factor. However, following the results of Gray and O Brien (2007), items 7 and 9 comprise the factor Educational Aspirations, which is not relevant for this rese arch. Therefore, these items will be deleted. Additionally, item 5 does not have a suf ficient loading to the factor and should thus be deleted. Furthermore, the research by Gray and

O Brien (2007) suggested to delete items 3 and 8, although these two items showed suffic ient loadings to one forced factor, .317 and .455 respectively (see appendix B). Consequently, the remaining 5 items are subjected to a new principal component a nalysis with one forced factor. The KMO value was .74, a good value according to Kaiser (1974) and the Bartlett s Test of Sphericity reached statistical significance (p <.001), supp orting the factorability of these 5 items. The one factor explains 46.03% of the variance. The five items have sufficient loadings to one forced factor, ranging from .353 to .807 (see ap pendix B.2.). The overall career aspirations measure was calculated following the instructions of Gray and O Brien (2007) by summing the items to obtain a total score. Gray and O Brien (2007) reported internal consistencies in four studies ranging fr om a=.67 to a= .78. The internal consistency of the total scale of 10 items is a=.63, and a= .67 for the 5item career aspirations scale. Although the general accepted level of internal c onsistency is above a=.7, according to Field (2009) a cronbach s alpha below .7 can be expected when dealing with psychological constructs. 50 The skewness (-1.038) and kurtosis (-.82) statistics of the career aspiration me asure indicated that it was likely to be normally distributed. However, the histogram showed, as can be seen in appendix C.1., that the career aspiration measure has a negatively skewed dis tribution (Field, 2009). Additionally, the Kolmogorov-Smirnov test of data normality was nonsignificant (p>.05) for the career aspiration measure, indicating a normal di stribution. Hence, the normality tests indicated a normal distribution. 6.2.3. Individual Entrepreneurial Orientation The individual entrepreneurial orientation consisted of 7 subscales to measure t he different items. Before executing the factor analysis, the reliability of the independent scales is calculated: innovativeness (a=.69); personal initiative (a=.78); risk-taking (a= .79); competitive aggressiveness (a=.69 after deletion of Q1); autonomy (a=.56); learn ing orientation (a=.70 after deletion of Q3) and achievement orientation (a=.65). Th e total internal consistency of the 32 items is a=.80. Subsequently, the total of 32 ite ms of the scale to test the individual entrepreneurial orientation construct were subjected to p rincipal component exploratory factor analysis (PCA). Prior to conducting the PCA, the su itability of the data for factor analysis was assessed. The correlation matrix revealed the p resence of coefficients of .3 or over. The Kaiser-Meyer-Olkin measure of sampling adequacy (KMO) value was .811, a good value according to Kaiser (1974), and well above the acce ptable limit

of .5 (Field, 2009). Furthermore, the Barlett s Test of Sphericity showed a statis tical significance (p <.001), indicating sufficient correlations between items for PCA . Both values support the factorability of the correlation matrix. The principal component ana lysis with Oblimin rotation was run to attain eigenvalues for each item in the data. Nine c omponents had eigenvalues exceeding 1 and in combination explaining 59.068% of the variance. T he first two factors had an eigenvalue of respectively 5.53 and 3.98, while the other fac tors had eigenvalues of 1.72 or lower. The scree plot (appendix B.2.) showed a clear infl exion that justified retaining two components. However, this research investigates whether these 7 concepts can form a single factor construct. Therefore, a factor analysis with o ne forced factor is performed, revealing that the risk-taking subscale did not loaded onto one fa ctor and is therefore not part of the single factor construct of the individual entrepreneur ial orientation (see appendix B.2.). A new factor analysis excluding the risk-taking scale showe d sufficient loadings (> .39) for the remaining factors, besides one competitive aggressivene ss factor (loading of .23). However, this component showed no negative effect on the relia bility of the 51 single factor item. The internal consistency of the overall scale (a=.84) is abo ve the accepted level of internal consistency (a=.7) and this scale can be considered reliable. The skewness (.016) and kurtosis (-.08) statistics of the Individual Entrepreneurial Orientati on (IEO) measure indicated that it was likely to be normally distributed, also showed by the hist ogram in appendix C. Additionally, the Kolmogorov-Smirnov test of data normality was nons ignificant (p>.05) for the IEO measure, indicating a normal distribution. 6.2.4. Entrepreneurial Traits The entrepreneurial traits measure consisted of 3 subscales to measure the diffe rent items. Before executing the factor analysis, the reliability of the independent scales is calculated: locus of control (a=.51 after deletion of Q5); need for achievement risk-taking (a=.65) and risk-taking propensity (a=.79). The overall internal consistency of this scale i s a=. 71, above the acceptable level of a=.7. Subsequently, the total of 19 items of the scale t o test the entrepreneurial traits construct were subjected to PCA. Prior to conducting the PCA, the suitability of the data for factor analysis was assessed. The Kaiser-Meyer-Olkin measure of sampling adequacy (KMO) value was .766, a good value according to Kaiser (1974), and well above the acceptable limit of .5 (Field, 2009). Furthermore, the Barlett s Test of Sphericity showed a statistical significance (p <.001), indicating sufficient correlations

between items for PCA. Both values support the factorability of the correlation matrix. The princi pal component analysis with Oblimin rotation was run to attain eigenvalues for each item in th e data. Six components had eigenvalues exceeding 1 and in combination explaining 57.597% of the variance. The first two factors had an eigenvalue of respectively 3.69 and 2.39, while the other factors had eigenvalues of 1.495 or lower. The scree plot (appendix B.3.) showed a clear inflexion that justified retaining two components. However, this research invest igates whether these 3 concepts can form a single factor construct. Therefore, a factor analysi s with one forced factor is performed, revealing that the 19 items could not form a single factor construct as can be seen in appendix B.3. A factor analysis with two forced factors indica ted that one factor comprised the risk-taking propensity and the other factor comprised the n eed for achievement and locus of control items (see component plot appendix B.3). Hence, these results showed the answer to research question 2 (i.e. Do the components of the entrepreneurial traits construct form one single factor?), which is that the com ponents do not form a single factor construct. Consequently, hypothesis 8 cannot be investigate d in this research. 52 6.2.5. Managerial Traits The managerial traits construct or the five factor model consisted of 5 sub scal es, each of 6 items to measure the personality traits. Prior to the performance of the factor analysis, the reliability of the five subscales is calculated: extraversion (a=.82); agreeable ness (a=.67); conscientiousness (a=.77); neuroticism (a=.66) and openness to experience (a=.71 ). The internal reliability of the total scale consisting of 30 items is a=.78. In addition, the suitability of the data for factor analysis was assessed. The c orrelation matrix revealed the presence of coefficients of .3 or over. The KMO value was .779, a g ood value according to Kaiser (1974), and well above the acceptable limit of .5 (Field, 20 09). Furthermore, the Barlett s Test of Sphericity showed a statistical significance (p <.001), indicating sufficient correlations between items for PCA. Subsequently, the 30 i tems of the managerial traits measure were subjected to principal component exploratory fact or analysis (PCA). The PCA with Oblimin rotation was run to attain eigenvalues for each item in the data. Six components had eigenvalues exceeding 1 and in combination explaining 5 1.557% of the variance. The first three factors had an eigenvalue of respectively 4.46, 3. 07 and 2.70, while the other factors had eigenvalues of 1.98 or lower. The component matrix ( appendix

B.4.) suggested to remain one component. Therefore, a factor analysis with one f orced factor is performed. All items, except for the Q2 of openness to experience and Q3 of n euroticism, did load onto the one factor. However, these items did correlate with other vari ables. The deletion of these items did not result in an significant increase of the interna l consistency coefficient (a=.78). The skewness (-.15) and kurtosis (-.07) statistics of the m anagerial traits measure indicated that it was likely to be normally distributed, also showed by the histogram in appendix C. Additionally, the Kolmogorov-Smirnov test of data normality was nonsignificant (p>.05) for the managerial traits measure, indicating a normal di stribution. 6.2.6. Control variables Before testing the influence of the control variables on the dependent variable, the control variable role conflict is subjected to a factor analysis. The seven items of the role conflict scale by Lips (1992) were subjected to prin cipal component exploratory factor analysis (PCA). Prior to conducting the principal c omponent exploratory factor analysis, the suitability of the data for factor analysis was assessed. The correlation matrix revealed the presence of many coefficients of .3 or over. The KaiserMeyer-Olkin measure of sampling adequacy (KMO) value was .868, a superb value ac cording 53 to Kaiser (1974), and well above the acceptable limit of .5 (Field, 2009). Furth ermore, the Barlett s Test of Sphericity showed a statistical significance (p <.001), indicati ng sufficient correlations between items for PCA. Both values support the factorability of the correlation matrix. The principal component analysis with Oblimin rotation was run to attain eigenvalues for each item in the data. One component had an eigenvalue exceeding 1 and expla ined 47.844% of the variance. The scree plot (appendix B) showed a clear inflexion th at justified retaining one component. The factor analysis revealed that all the items of the scale loaded onto one factor, with loading ranging from .616 to .739 (see appendix B). The internal consistency of the overall scale (a=.82) is above the accepted leve l of internal consistency (a=.7) and this scale can be considered reliable. The skewness (-.10 3) and kurtosis (-.029) statistics of the role conflict measure indicated that it was l ikely to be normally distributed, also showed by the histogram in appendix C. Additionally, the Kolmogorov-Smirnov test of data normality was nonsignificant (p>.05) for the rol e conflict measure, indicating a normal distribution. The influence of the control variables was investigated using ANOVA (nationality and roleconflict and role model influence). Age will not be investigated, since the bivariate cor relation

matrix (figure 1) showed that age does not have an significant effect on any of the research variables. The results of the ANOVA tests can be found in appendix E. The signif icant results are printed in bolt in the tables and will be discussed shortly in this section. The results of the first ANOVA indicated that students who have a negative attit ude about the compatibility of a top or entrepreneurial career and family responsibilities gen erally score higher on managerial traits and the individual entrepreneurial orientation. The second ANOVA test showed a significant effect of role model influence on the career asp irations of students. These results pointed out that top managers or entrepreneurs as role m odels of students, who have a lot of influence on the career-thinking of these students, can results in higher career aspirations of students. The third ANOVA comparing the mean scores of nationality on the research variables, revealed that there were significant diff erences between the different nationalities (i.e. Dutch, German and Other) in terms of career as pirations, managerial traits, individual entrepreneurial orientation and year of study. An inspection of the Levene s test for homogeneity of variances showed that some factors of the sec ond (role model influence) and third (nationality) ANOVA violates the assumption of homoge neity of variance (Sig. < .05), thus the variances of the groups are significantly differ ent (Field, 2009). 54 The normality plots in the appendix proved that the career aspirations of differ ent nationalities it is not normally distributed. The reason for this cannot be clarified in this research. 6.2.7. Ambition Since this research is a not a longitudinal study, therefore, to get an idea of the change of the ambition of the students, two questions were added to the questionnaire. The ans wer to the question were included in a cross tabulation with gender and year of study. The results can be found in appendix F. The results support the results of the regression analysis that career aspirations decrease with years of study. However, these results show a differen ce between the career aspirations of female and male students (H2). The percentage of stude nts aspiring a career as entrepreneur differs amongst females (16%) and males (29%). Moreover, a career as middle-manager is aspired by 33% of the female students in comparison with 12,5% of the male students. The differences between females and males who aspire a career as top manager are less, 37% and 44% respectively. Although the significance of the effect of g ender on the relation between year of study and career aspirations cannot be measured through these questions, the percentages indicate a slight difference between the career aspir

ations of female and male students over the years of study. The percentage of students that state s that their ambition has become less over the past two years is 6% (1st year), 16% (2nd year ), 13(3rd year) and 17% (master) of the female students, in comparison with 8% (1st year), 6% (2 nd year), 8% (3rd year) and 12% (master) of the male students. These findings indicated that the differences in career aspirations between female and male students increase with years of st udy. Since the strength of the relationships and the significance cannot be tested through thes e questions, the results of the following analyses will be used to investigate the hypotheses of this study. 6.3. Hypotheses testing In this section, the hypotheses as formulated in chapter four will be tested. An independentsamplest-test, an hierarchical regression analysis were run to test the hypotheses. The results of the multiple hierarchical regression analysis can be found in figure 2. The r esults of the independent-samples-t-test can be found in the appendix. 55 Figure 2: Regressions to test for the relation between year of study and career aspirations and the moderating role of gender. Coefficientsa Model Unstandardized Coefficients Standardized Coefficients B Std. Error Beta t Sig. 1 (Constant) -1,051 ,297 -3,535 ,000 Nationality ,134 ,077 ,094 1,742 ,082 Role conflict ,098 ,066 ,080 1,490 ,137 Role model influence ,102 ,036 ,153 2,835 ,005 2 (Constant) -,827 ,310 -2,665 ,008 Nationality ,126 ,077 ,088 1,640 ,102 Role conflict ,091 ,066 ,075 1,394 ,164 Role model influence ,109 ,036 ,163 3,040 ,003 Year of study -,113 ,049 -,125 -2,334 ,020 3 (Constant) -,895 ,318 -2,814 ,005 Nationality ,131 ,077 ,092 1,709 ,088 Role conflict ,087 ,066 ,071 1,326 ,186 Role model influence ,108 ,036 ,162 3,017 ,003 Year of study -,108 ,049 -,119 -2,196 ,029 Gender ,107 ,109 ,053 ,981 ,327 a. Dependent Variable: Factor.CAS Hypothesis 1 predicted a decrease of career aspirations of students with the yea rs of study. This hypothesis was tested using an regression analysis. The result of the analy sis can be found in figure 2, model 2. The results show that year of study is negatively as sociated with career aspirations, indicating that when the year of study increases, the career aspirations

decrease. This relationship is significant, thus, hypothesis 1 is supported. Hypothesis 2 predicted that male students will have higher career aspirations th an female students. An independent-samples-t-test was conducted to compare the career aspi ration scores for female and male students (appendix F). There was no significant diffe rence in scores for female students (mean = -.074, Std. dev. = 1.010), and male students (mean = .061, Std. dev. = .991). Thus, hypothesis 2 can not be supported. Hypothesis 3 predicted that the differences between sexes in career aspirations will increase with the years of study. This hypothesis was tested using an hierarchical multip le regression analysis (Figure 2, model 3). The results showed that gender does not have a sig nificant 56 influence on the relation between year of study and career aspirations. The R Sq uare change is .003 and not significant. Therefore, hypothesis 3 is not supported. The hypotheses H4a-H4g, H5a-H5c and H6a-H6e will be tested in the following mult iple regression analysis. The results of the first analysis to test H4a-H4g are prese nted in figure 3. Figure 3. Regression analysis individual entrepreneurial orientation personality traits Coefficientsa Model Unstandardized Coefficients Standardized Coefficients t Sig. Collinearity Statistics B Std. Error Beta Tolerance VIF 1 (Constant) -5,461 ,590 -9,257 ,000 Innovativeness -,038 ,092 -,023 -,416 ,677 ,763 1,310 Personal.initiative ,276 ,104 ,158 2,644 ,009 ,640 1,562 Risk-taking ,275 ,077 ,177 3,557 ,000 ,924 1,083 Competitive.aggressiveness ,152 ,055 ,141 2,770 ,006 ,885 1,130 Autonomy ,259 ,103 ,141 2,510 ,013 ,729 1,372 Learning.orientation ,095 ,109 ,050 ,866 ,387 ,696 1,436 Achievement.orientation ,422 ,125 ,199 3,389 ,001 ,670 1,494 a. Dependent Variable: Factor.CAS Hypotheses 4a to 4g predicted that the personality traits (i.e. innovativeness, personal initiative, risk-taking, competitive aggressiveness, autonomy, learning orientat ion and achievement orientation) would be positively related to career aspirations. The R Square of this model is .246, which tells that this model explains 24.6% of the variance i n career aspirations. However, figure 3 showed that only innovativeness and learning orie ntation do not reflect a significant result. Personal initiative, risk-taking, competitive aggressiveness, autonomy and achievement orientation reflect a genuine effect (sig. value is <.. 05) on career

aspirations (Field, 2009). Consequently, H4a and H4f are not significantly posit ively related to career aspirations. Hence, H4b, H4c, H4d, H4e and H4g are supported. Hypotheses 5a, 5b and 5c predicted that the personality traits (i.e. internal lo cus of control, high need for achievement and risk-taking propensity respectively) would be posi tively related to career aspirations. However, the locus of control scale had a very lo w internal consistency (a=.51), is therefore not reliable and hypotheses 5a will not be tes ted. The results of the second regression analysis are presented in figure 4. 57 Figure 4. Regression analysis entrepreneurial traits Coefficientsa Model Unstandardized Coefficients Standardized Coefficients t Sig. Collinearity Statistics B Std. Error Beta Tolerance VIF 1 (Constant) -4,187 ,532 -7,868 ,000 Risk-taking propensity ,255 ,078 ,164 3,266 ,001 ,999 1,001 High need for achievement ,782 ,107 ,368 7,314 ,000 ,999 1,001 a. Dependent Variable: Factor.CAS The R Square of this model is .159, which tells that this model explains 15.9% o f the variance in career aspirations. Both personality traits showed a significant effect (sig. value is <..05) on career aspirations (Field, 2009). Of these two variables, high need for achie vement makes to largest contribution (beta=.358). Thus, hypotheses 5b and 5c are supported. Hypotheses 6a to 6e predicted to be positively related to career aspirations. Th e results of the multiple regression analysis is presented in figure 5. Figure 5. Regression analysis managerial traits Coefficientsa Model Unstandardized Coefficients Standardized Coefficients t Sig. Collinearity Statistics B Std. Error Beta Tolerance VIF 1 (Constant) -3,917 ,589 -6,645 ,000 Neuroticism ,093 ,084 ,057 1,112 ,267 ,924 1,083 Extraversion ,392 ,070 ,288 5,613 ,000 ,911 1,098 Openness.to.experience ,337 ,082 ,205 4,115 ,000 ,969 1,032 Agreeableness -,028 ,132 -,011 -,213 ,832 ,843 1,186 Conscientiousness ,311 ,080 ,205 3,875 ,000 ,856 1,168 a. Dependent Variable: Factor.CAS The R Square of this model is .210, thus this model explains 21.0% of the varian ce in career aspirations. Three personality traits showed a significant effect on career aspi rations;

extraversion, openness to experience and conscientiousness (beta=.288, beta=.205 and beta=.205 respectively). Consequently, hypotheses 6b, 6c and 6e are supported. To test hypotheses 7 and 9, an hierarchical regression analysis is run. The resu lts can be found in figure 6. 58 Figure 6. Regressions to test for the relationship between IEO, managerial trait s and career aspirations. Coefficientsa Model Unstandardized Coefficients Standardized Coefficients B Std. Error Beta t Sig. 1 (Constant) -1,051 ,297 -3,535 ,000 Nationality ,134 ,077 ,094 1,742 ,082 Role conflict ,098 ,066 ,080 1,490 ,137 Role model influence ,102 ,036 ,153 2,835 ,005 2 (Constant) -,827 ,310 -2,665 ,008 Nationality ,126 ,077 ,088 1,640 ,102 Role conflict ,091 ,066 ,075 1,394 ,164 Role model influence ,109 ,036 ,163 3,040 ,003 Year of study -,113 ,049 -,125 -2,334 ,020 3 (Constant) -,895 ,318 -2,814 ,005 Nationality ,131 ,077 ,092 1,709 ,088 Role conflict ,087 ,066 ,071 1,326 ,186 Role model influence ,108 ,036 ,162 3,017 ,003 Year of study -,108 ,049 -,119 -2,196 ,029 Gender ,107 ,109 ,053 ,981 ,327 4 (Constant) -6,414 ,603 -10,629 ,000 Nationality ,084 ,068 ,059 1,240 ,216 Role conflict ,075 ,057 ,061 1,312 ,191 Role model influence ,066 ,031 ,100 2,112 ,035 Year of study -,098 ,043 -,109 -2,308 ,022 Gender ,173 ,096 ,086 1,810 ,071 Managerial traits ,824 ,163 ,280 5,052 ,000 Individual entrepreneurial orientation ,736 ,145 ,281 5,085 ,000 a. Dependent Variable: Factor.CAS Hypothesis 7 predicted that the individual entrepreneurial orientation (IEO) of the students is positively related to career aspirations. The results of the factor analysis ind icated that the personality trait risk-taking should be deleted to form one factor. The regressi on is therefore run with the IEO without risk-taking. This hypothesis was tested using an regres sion analysis. The results can be found in figure 6, model 4. The results show that the IEO of students is positively associated with career aspirations. This relation is significant, the refore hypothesis 7 is supported. 59 As aforementioned, hypothesis 8 will not be tested because the components of the entrepreneurial traits construct do not form a single factor construct. Hypothesis 9 predicted that the managerial traits of students are positively rel ated to career aspirations. The hypothesis was tested using a regression analysis, which can be found in

figure 6, model 4. The tables illustrate that the relation between the manageria l traits construct and career aspirations is both significant and positive. Consequently, hypothesi s 9 is supported. From these regression, it can be concluded that only the regression coefficient gender is not significant at the 5% level. The R Square of model 4, figure 6, is .289 and is s ignificant. Therefore, it can be concluded that the year of study, the IEO and managerial tr aits of the students can predict (part of) the career aspirations of students. 6.4. Conclusion This chapter has presented the results of the analyses. After testing the hypoth eses, it can be concluded that hypotheses 1, 4b, 4c, 4d, 4e, 4g, 5b, 5c, 6b, 6c, 6e, 7 and 9 can be supported, which indicates that year of study has a significant relation to career aspirati ons, as well as the IEO construct and the managerial traits construct. However, not every personalit y trait of the constructs has a direct effect on career aspirations. Personal initiative, risktaking propensity, competitive aggressiveness, autonomy, achievement orientation, extraversion, ope nness to experience and conscientiousness have a significant direct effect on career aspi rations. Furthermore, no evidence was found that gender plays a moderating role in the re lationship between year of study and career aspirations. Finally, the results indicated that the research model can partly explain the de terminants of career aspirations of students. The next chapter will discuss the results in fur ther detail, as well as the implications and limitations of this research. 60 7. Discussion and conclusion 7.1. Introduction This chapter discusses the results of the analyses as presented in the previous chapter. Furthermore, this chapter will address the limitations and the recommendations f or future research. The implications of this research for organizations and universities w ill also be discussed. Finally, the overall conclusion of the thesis is formulated. 7.2. Discussion of results The world is focused on the current financial crisis, multinational companies ar e struggling to survive, many people lost their jobs and everyone is asking the question; how co uld this happen? Although the problem started in the United States of America, the whole world is facing challenges. One cause of the problem is the remuneration and additional r ewards of top managers, which stimulated the unacceptable, high-risk investments to achieve th e targets. Therefore, the reward system of top managers is in debate. The Dutch State Secre tary of Economic Affairs Frank Heemskerk would like to use this opportunity to stimulate the

advancement of women in top positions and poses that the managers should get rew arded for installing women in top positions (Volkskrant, 2009). Many organisations support this idea and acknowledge the necessity of increasing diversity in the top of businesses. Amongst other, ING, Fortis, het Rijk and NS signed an agreement to raise the number of w omen on top positions to 40-50% within five years (Volkskrant, 2009). A general assumption is that most women want to reach top management level, but the glassceiling effect is hindering women to get there. The question arising here is whether the majority of women want to reach top management level. Researchers found a positi ve relationship between ambition and career success and, according to Judge et al. (1995), ambition can be considered one of the best predictors of career success (Cox and Cooper , 1989; Judge et al., 1995). Consequently, the career aspirations of women and men could play an important role in the advancement of women in top positions. Hence, this paper will focus on individual factors (i.e. career aspirations or a mbition) and certain characteristics of students that will enhance the ambition to top manage ment or to start 61 an entrepreneurial business in order to identify the high potentials throughout university years. The purpose of this study was to examine the influence of the year of study, gen der and personality characteristics on the ambition of students. The problem statement o f this thesis was formulated as: What is the effect of year of study, gender and personality ch aracteristics on the career aspirations to top management level or to start an entrepreneurial business. A first component of the research model focused on the relation between year of study, gender and career aspirations. The hypotheses of this research posited that the career aspirations of students would decrease with years of study, that there are diffe rences in career aspirations between female and male students and that these differences will inc rease with years of study. The research findings showed that the career aspirations of both female and male students decrease with the years of study. These results are in accordance with the caree r development theory which assumes that the career aspirations become more realistic with the years in school (McNulty and Borgen, 1988). The differences found between career aspirati ons of students in different years of study might be explained by realism. The students might reconsider their ambition with regard to top management positions or to start an entrepreneurial business, because they realize the requirements (i.e. responsibi lities, work load and commitment) for a career in top management or as entrepreneur. Along th

eir years of study, students become more acquainted with businesses, managers and entrepreneu rs and become more familiar with the organizational practices, the content, responsibil ities and consequences of a top management position or as an entrepreneur of an independen t business. Another explanation for the decrease in career aspirations could be that student s discover their own competencies and personality and possible barriers to their preferences (Got tfredson, 1981). In accordance with the theory of Gottfredson (1981), this research sugges ts that the career aspirations evolve over the years. An additional explanation was proposed by Whitmarsh et al. (2007), who stated th at a reality check occurs to reassess the compatibility of a family life and the aspired care er. However, the results of this research do not support this idea, since role conflict does not influence the career aspirations of students negatively. The results of this study regarding t he relationship between year of study and career aspirations are congruent with the results of D anziger and 62 Eden (2007), although their study also showed a significant difference between t he career aspirations of men and women in later years of study. The hypotheses that predicted differences in career aspirations of male and fema le students, and an increase of these differences with the number of years of study, were not supported in this research. This result is surprising, as many authors found changes between men and women in career aspirations (McNulty and Borgen, 1988; Harmon, 1989; Powell and Butterfield, 2003; Danziger and Eden, 2007; Litzky and Greenhaus, 2007). Litzky and Greenhaus (2007) found a difference between men and women to aspire a position i n senior management and state women perceive less fit with senior management and see promo tion to senior management as less attainable (p.651), explaining the weaker aspiration s of women. A similar explanation is given by Danziger and Eden (2007), who state tha t the gender differences in career aspirations is an adaptive response of female studen ts to perceived social reality (Danziger and Eden, 2007, p.144). However, Danziger and Eden (2007, p. 144) also suggest that an equal investment in education should predict similar career aspirations between the sexes , which could be applicable to the results of this study. The report Reviews Tertiary Education of The Netherlands (2006) states that the n umbers of male and female students in hogescholen and universities are practically equal , ( OECD, 2006, p.49) which indicates equal opportunity in The Netherlands. Additionally, these findings might also be explained by the stimulation of the Dutch government to i

ncrease the number of women in top management. There is a great amount of media attention on the current female top managers and female entrepreneurs. As a result, the position of female top managers and entrepreneurs has broadened, also functioning as role models for fe male students. Subsequently, the results of this study confirmed that role model infl uence has a significant influence on career aspirations of students. A second component of this research focused on the influence of personality trai ts constructs on career aspirations. Research showed the importance of personality traits in t op management positions and as an entrepreneur (Begley and Boyd,1987; Krauss et al. , 2005; Rauch and Frese, 2007; Wu et al., 2007). The main focus of the research on caree r aspirations was on external factors like social support, education and role modeling (Powell and Mainiero, 1992; Nauta et al., 1998; Wall et al., 1999). However, the effect of p ersonality characteristics on career aspirations has been largely overlooked. The hypothese s posited that the personality traits independently had a positive influence on career aspirati ons, and that the personality constructs as a whole have a positive influence on career aspiration s, therefore, the 63 research questions of this study investigated whether the personality traits con struct could form single factor construct. This study considers personality traits as selected from the three personality t raits constructs; the individual entrepreneurial orientation, the entrepreneurial traits construct and the managerial traits construct. The findings of this research showed that certain p ersonality traits have a significant positive influence on career aspirations of students. Regress ion analyses revealed that students with higher scores on personal initiative, risk-taking pr opensity, competitive aggressiveness, autonomy orientation, high need for achievement, ext raversion, openness to experience and conscientiousness, also score higher on career aspira tions to top management level or entrepreneurship. Although the remaining personality traits were hypothesized to have a positive e ffect on career aspirations, the results showed that innovativeness, learning orientation , neuroticism and agreeableness did not have a significant influence on career aspirations. Th e question arising is why these traits do not have an influence on career aspirations. The results showed that, although not significant, innovativeness even has a negative influence on career aspirations of students. Krauss et al. (2005) found low relationships of learnin g orientation and innovativeness with business performance and suggested it might be caused by

the greater influence of traditionalism in Africa than in the West. However, this st udy is not conducted in Africa and the influence of traditionalism should therefore not be relevant. Krauss et al. (2005) provide another explanation for low relationships of learni ng orientation and innovativeness, namely the restricted variance in the orientations variables Krauss et al., 2005, p.336). As well as the relation between the personality traits of the IEO, no research suggested influences of the Big Five personality traits on career aspirations. T he findings of this study showed that agreeableness and neuroticism have no significant influen ce on career aspirations. Following Barrick and Mount (1991), who found that agreeableness wa s not an important predictor of job performance, people who are straightforward and trust ing do not have higher career aspirations, as well as people with positive emotions and sel f-control. Both personality traits have a positivity component, which could imply that positive emotions do not result in higher career aspirations. Furthermore, this research examines whether the three personality traits constru cts could form single factor constructs. Exploratory factor analyses were run and showed that t he individual entrepreneurial orientation construct (after deleting the risk-taking trait) and the managerial traits construct could form single factor constructs. The loadings onto a single factor were not 64 sufficient to form a single factor of the entrepreneurial traits construct. Surp risingly, the risktaking propensity could not load onto the single factor construct of neither the IEO or the entrepreneurial traits construct. Notably, all items of the individual entrepren eurial orientation can be implied as positive, self-developing items, since these items stimulate t he person to improve performance. In contrast, a risk-taking orientation will help people to take on risks and challenges, which implies the existence of a certain amount of uncertainty a nd negativity. This dissimilarity may lead to the failure to form a single factor construct of the entrepreneurial traits. Consequently, the IEO can only form a single factor cons truct without the risk-taking component. Next, the influence of the two single-factor constructs on career aspirations wa s investigated. Both single factor constructs showed to have a positive, significant influence o n career aspirations, suggesting that the individual entrepreneurial orientation construc t and the managerial traits constructs can be considered a determinant of the career aspir ations of students. 7.3. Limitations & recommendations for future research

Despite the strengths of this study, several limitations can be identified. The first limitation of the research relates to the cross sectional design of the study. Although the sa mple is composed of students out of every year of study, this research is not longitudin al. To investigate the development of the career aspirations over the years of study, a longitudinal study is required. The findings of this research indicate the importance of pers onality characteristics as a determinant of career aspirations of students. Since person alities play an important role and differ amongst people, it is difficult to assume a similar pa ttern of the evolvement of career aspirations. Therefore, future studies should gather data t hroughout the years of study of the students to get a complete overview of the changes of the career aspirations throughout the years of study. A second limitation of the study is the usage of a self-reported questionnaire. The participants of the survey had to be willing to give truthful answers, especially since the q uestionnaire entailed questions regarding their personality. This brings up a third limitatio n of the research, the single source data collection. Moreover, it is assumed that the respondents could accurately rate their own personality characteristics. Although the anonymity wa s guaranteed, Appendix A Questionnaire A. Career Aspirations 1. What is your ambition? Eventually, I want to become... A. An employee B. An entrepreneur of an independent business C. A middle-manager D. A top manager E. Other 2. Did your ambition change over the past two years? A. My ambition remained the same B. I am more ambitious C. I am less ambitious In the space next to the statements below please circle a number from 1 (not at al l true of me) to 5 (very true of me). If the statement does not apply, circle N.A. . Please be completely honest. Your answers are entirely confidential and will be useful onl y if they accurately describe you. Not at all true of me Slightly true of me Moderately true of me Quite a bit true of me Very true of me 1 2 3 4 5 1. I hope to become a leader in my career field. 1 2 3 4 5 N.A. 2. When I am established in my career, I would like to

manage other employees. 1 2 3 4 5 N.A. 3. I would be satisfied just by doing my job in a career I am interested in. 1 2 3 4 5 N.A. 4. I do not plan to devote energy into getting promoted in the Organization or business I am working in. 1 2 3 4 5 N.A. 5. When I am established in my career, I would like to train others. 1 2 3 4 5 N .A. 6. I hope to move up through any organization or business I work in. 1 2 3 4 5 N .A. 78 7. Once I finish the basic level of education level needed for a