Abstract

The present paper aims to investigate the relevance that love money – i.e. financial resources provided by family, friends, and fools – can have on vocational behavior, standing for personal goals that are occupational in nature. In particular, the relationship between the above-cited financial resources and “core goals” (i.e. the survival of entrepreneurial firms) is tested by leveraging on second-hand data about Italian entrepreneurs retrieved from Global Entrepreneurship Monitor – GEM website and referring to the years 2012-2014 and by applying estimated Logit models. 
 
 Achieved results show that financial resources provided by fools do not affect the survival of entrepreneurial firms. On the contrary, financial resources provided by family and friends do it. Noticeably, the impact of financial resources provided by family or by friends varies in terms of intensity and according to entrepreneurial profiles, in particular to gender and age. After highlighting the main limitations of this paper, some hints for further research are proposed in the last part of the paper.

Highlights

  • According to Vondracek et al (2014, p. 4) “vocational behavior occurs when individuals pursue personal goals that are occupational in nature”

  • In reference to 2012, love money does not affect the survival of entrepreneurial firms

  • In reference to 2013, only love money provided by families affects the survival of firms launched by female entrepreneurs aged between 35-54 who can leverage intellectual capital

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Summary

Introduction

According to Vondracek et al (2014, p. 4) “vocational behavior occurs when individuals pursue personal goals that are occupational in nature”. In order to study how individuals try to pursue their occupational-related goals, scholars (Young & Valach, 2000, 2008; Savickas, 2002, 2005; Valach & Young, 2004) have proposed and discussed several frameworks. Other scholars focus on the relevance of “recursiveness” (Patton & Mahon, 2006) that strictly refers to dynamic interactions occurring between individuals and systems around them. In this case, interrelationships, mutuality of actions and interactions are the main pillars. This theory considers several factors that might affect vocational behavior and tries to apply non-linear algorithms in order to foresee the vocational behavior of individuals

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