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Entrepreneurship and family businesses in Thailand

Weerachart Kilenthong and Kittipong Rueanthip

Asian-Pacific Economic Literature, 2018, vol. 32, issue 1, 77-93

Abstract: This paper investigates the impact of exposure to a family business and participating in a family business on an individual's decision to start a business and the likelihood of its survival. We find that having a family member doing business increases the probability of starting a business but not its survival. In contrast, working in a family†owned business for a high number of hours increases both the likelihood of entrepreneurship and survival. The impact of working hours in a family†owned business remains significant even if the sample includes only individuals who are the spouses of business owners. Given the evidence, an apprenticeship scheme should be considered as a policy instrument for promoting entrepreneurial success.

Date: 2018
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