A Critical Literature Review on the Impact of Entrepreneurial Mindset and Financial Literacy on Self-Employment Intention; The Moderating Role of Family Business Ownership in the Sultanate of Oman

Abstract

Youth unemployment remains a critical socioeconomic challenge in the Sultanate of Oman and other developing nations, necessitating sustainable solutions beyond traditional pathways. Entrepreneurship has been identified as an important mechanism for economic diversification and job creation. This study proposes a conceptual framework to investigate the determinants of self–employment intention among the Bachelor Degree students in Oman by integrating entrepreneurial traits, entrepreneurial skills and family business background within the framework of the Theory of Planned Behavior (TPB), while incorporating financial literacy within the framework of Human Capital Theory (HCT). Drawing on the TPB and HCT, this study proposes an intention-based entrepreneurship model. It hypothesizes that entrepreneurial traits, skills, and financial literacy directly influence self-employment intention and enhance entrepreneurial readiness. Furthermore, family business background is a contextual factor that shapes entrepreneurial traits, skills, and financial literacy toward self-employment.
A quantitative research design is proposed using stratified random sampling among university students across selected higher education institutions in Oman. Data are intended to be analyzed using two-step structured equation modeling approach to assess measurement validity structural relationships. The study is expected to contribute theoretically to extending the TPB framework through the integration of financial literacy and family business background in an emerging economy context. Practically, the findings are anticipated to inform higher education institutions and policymakers in designing targeted entrepreneurship education and financial literacy interventions to foster sustainable self-employment pathways among graduates.