Career aspirations and financial planning of young people in family businesses

Ameet Kumar Banerjee, Subhendu Kumar Mishra and Ahmet Sensoy

Research in International Business and Finance, 2024, vol. 70, issue PB

Abstract: We add new insights into noticeably missing research about antecedents to career choices through the alternative lens of social capital theory, social cognitive theory, and social cognitive career theory. Unlike past studies with significantly researched intentions and motivation instead of actual decisions, it leaves a gap. We are first to attempt to fill the gap by exploring what determines the young generation’s career choices with the family business by collecting survey data from actual practitioners rather than students, which automatically makes it more desirable for testing the ground reality. Analyzing the data set using multinomial logistic regression revealed that family cognitive and social capital and individual psychological dimensions of self-efficacy and outcome expectations significantly influence the young generation’s career choices with the family business.

Keywords: Career choices; Family social capital; Self-efficacy; Outcome expectations; Multinomial logistic regression (search for similar items in EconPapers)
JEL-codes: D21 D22 D23 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:70:y:2024:i:pb:s0275531924001569

DOI: 10.1016/j.ribaf.2024.102363

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