The Influence of Crowd Wisdom on Entrepreneurial Intention: Evidence from a Second-Order CB-SEM Model

Purpose This research explores the impact of crowd wisdom, and its three sub-dimensions (guest speakers, mentoring, and peer-to-peer learning), on students’ entrepreneurial intentions. Design/methodology/approach The study used a quantitative survey of 382 undergraduate business students, employing a stratified random sampling technique from the target population. Covariance-Based Structural Equation Modeling (CB-SEM) was used with AMOS and SPSS software, and a second-order measurement model. Findings The second-order CB-SEM results reveal that crowd wisdom has a positive and significant impact on entrepreneurial intention (β = 0.297, CR = 4.636, p < 0.001). The three dimensions - guest speakers, mentoring programs, and peer-to-peer learning - significantly contribute to the crowd wisdom construct, confirming a good fit for the proposed model (GFI = 0.927, CFI = 0.969, RMSEA = 0.048). Research limitations/implications The model is limited to undergraduate students at a Bangladeshi university, limiting its generalizability. The model should be tested across cultural and institutional settings with larger, multi-site samples. Originality/value This paper is original in its application of Ajzen’s Theory of Planned Behavior to crowd wisdom and entrepreneurial intentions. This is one of the first empirical studies to operationalize crowd wisdom in three ways (guest speakers, mentoring programs, and peer-to-peer learning) and to confirm their combined effect on entrepreneurial intention using a second-order CB-SEM model in a developing country.