Family Business Succession: Does Experience Gained in Family Firm Really Count?

Predrag Ljubotina and Jaka Vadnjal
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Jaka Vadnjal: University of Ljubljana, Slovenia

Management, 2018, vol. 13, issue 4, 301-322

Abstract: Potential family business successors have to resolve a complex trilemma when choosing their career path. Instead of choosing between the entrepreneurship and employment, they have to consider family business succession as an additional option. GUESSS 2014 survey, conducted among more than 109.000 students in 34 countries, offered us the possibility to investigate the correlation between successors’ career choice intentions and personal motives, family business experience and individual entrepreneurial skills. We analysed the data using multinomial logistic regression since career decision is measured as a categorical dependent variable with three possible solutions. We founded a significant correlation between personal motives and career decision. Similarly, the age at which potential successor was engaged in family business activity significantly influences his or hers career choice intention. On the other hand, we found that the length of engagement is not a significant factor. The higher level of self-assessed entrepreneurial skills is working in favour of succession when compared with employment option.

Keywords: family business; succession; career decision; skills; entrepreneurial education; feelings (search for similar items in EconPapers)
Date: 2018
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DOI: 10.26493/1854-4231.13.301-322

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