Macroeconomic Factors Forming Family Business Heir’s Career Choice Intention

Predrag Ljubotina (), Štefan Bojnec () and Jaka Vadnjal ()
Additional contact information
Predrag Ljubotina: Department of Enterpreneurship, Faculty of Management, University of Primorska, Slovenia
Jaka Vadnjal: Faculty of Economics, University of Ljubljana, Slovenia

Acta Oeconomica, 2019, vol. 69, issue 3, 425-444

Abstract: While recent research on family business succession has focused on examining the importance of individual and family characteristics, the role of macroeconomic conditions has been often neglected. This paper investigates the impacts of macroeconomic conditions on family business heir’s career choice intention using individual level cross-country data of 18 European countries for the year 2013. We find that the level of economic development measured by GDP per capita, growth of GDP per capita, and youth rate of unemployment influence a family business heir’s career choice intention. We also demonstrate that beyond the cross-country differences in macroeconomic conditions, individual characteristics of siblings, age, gender, work experience in family business, and start-up time play an important role. To mitigate succession failures, policies towards business succession with related firm survival should be specifically designed depending on different macroeconomic and youth labour market conditions.

Keywords: youth unemployment; level of economic development; business succession; family business; macroeconomic indicators; career choice intention (search for similar items in EconPapers)
JEL-codes: E03 L26 (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.akademiai.com/doi/pdf/10.1556/032.2019.69.3.5 (application/pdf)
subscription

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aka:aoecon:v:69:y:2019:i:3:p:425-444

Ordering information: This journal article can be ordered from
Akadémiai Kiadó Zrt., P. O. Box 245, H-1519 Budapest, Hungary
https://akjournals.com/

Access Statistics for this article

Acta Oeconomica is currently edited by Mihályi, Péter

More articles in Acta Oeconomica from Akadémiai Kiadó, Hungary
Bibliographic data for series maintained by Kriston, Orsolya ().