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particular, differences found in the intentions of both sexes, 
through the influence of social norms and perceived 
behavioral control. The perceived ability of an individual to 
establish a business activity and the attitudes and perceptions 
have for entrepreneurship are important predictive variables 
of its business intent. The differences between the sexes in 
the perceived self-efficacy in their professional pursuits has 
been the subject of many other research efforts. In most 
reflected their differentiation. With women have lower levels 
than men (Wennekers, 2006). Women also appear to be easier 
to lower their expectations for a professional career because 
of that they believe have reduced capabilities (Muthaih & 
Venkatesh, 2012). 
Even at secondary level differences were observed as to 
the perceived self-efficacy and entrepreneurial intentions. 
Especially boys showed stronger perceived self-efficacy and 
stronger intentions for establishing a business than girls 
(Chaston, 2010), and so it seems that entrepreneurship 
education cannot function as a filter to reduce the existing 
differences. Also, research has shown that university students 
have a higher level of self-efficacy, because they consider 
themselves more able to create a business, as they give less 
importance to the social norms and in total have stronger 
intentions (Winter et al., 1998). 
3. Economic and Financial Crisis 
3.1. The Meaning of the Economic and Financial Crisis 
By economic crisis means the economic situation of a 
country which is manifested through a continuous decline in 
economic activity. Of course, the definition of economic 
crisis is assigned in different ways by several authors. 
According to Rosenthal et al. (1989), the economic crisis is 
"a serious threat to the existing structure, fundamental 
principles and norms of the social system, which requires the 
taking of critical decisions within a limited time and under 
uncertainty (Rosenthal et al., 1989). 
According to the definition given by Sharpe (1963), the 
economic crisis is rendered as the period during which the 
market has a large downward move. Finally according to 
Erol et al. (2011), the economic crisis involves the disruption 
of economic balance and weakening of all economic factors 
due to sudden and unexpected events which occur due to 
local or global causes such as economic and administrative 
problems, corruption, disruption of the tax system, payment 
problems of external debt, the inability to import sufficient 
foreign capital, unemployment problems, or even natural 
disasters. Monetarists engage the economic crisis with the 
banking crisis (Friedman & Schwatz, 1963). According to a 
broader definition, during an economic crisis, there is a sharp 
fall in asset prices, bankruptcies of large companies, etc. 
(Minsky, 1972). Mishkin (1992) provides an asymmetric 
information framework for the assimilation of the substance 
of the financial crisis. According to his definition, a financial 
crisis is a disruption in the financial markets where moral 
hazard is getting worse, and financial markets are not able to 

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International Journal of Economic Behavior and Organization 2017; 5(2): 36-53 
40 
channel the funds effectively to those who bear the most 
productive investment opportunities. In consequence, the 
crisis has the potential to lead the economy away from 
equilibrium.