Executive Functioning Skills and Academic Self-Efficacy as Predictors of Life Satisfaction among Undergraduate Business Owners in Osun State

Abstract

As economic challenges persist and youth unemployment rises, many undergraduates are becoming entrepreneurs, and questions about how their cognitive and motivational abilities affect their overall well-being are of interest. The aim of the research was to examine whether executive function skills and academic self-efficacy are independent and concomitant predictors of life satisfaction in this special group of people. The research used a cross-sectional design. Two universities from Osun State, one private and the other public, were selected through convenience sampling due to accessibility. Within these institutions, respondents were recruited using purposive sampling based on the criterion of owning a business. A total of 385 respondents, 131 males (36 %) and 254 females (64 %), participated in the study. Participants responded to standardised instruments measuring life satisfaction, academic self-efficacy, and executive functioning skills. Four hypotheses were generated and tested using descriptive statistics, Pearson correlation, simple linear regression, and multiple regression analyses on SPSS version 25. Results indicated that both executive functioning skills (β = .30, p < .001) and academic self-efficacy (β = .20, p < .001) significantly predicted life satisfaction, jointly explaining 11% of the variance, F (2, 382) = 24.42, p < .001. The research establishes that cognitive regulation and self-belief are valuable psychological resources to student entrepreneurs in balancing their academic and entrepreneurial needs. It suggests specific measures to enhance executive functioning and academic self-efficacy in undergraduates to promote their general well-being and academic performance.