Family entrepreneurs and their next generations, 1809–1945: educational pathways of business elite in Finland

Abstract

ABSTRACT This study investigated the history of family business elite education in Finland. It focused on family entrepreneurs who achieved the highest national business elite status between 1809 and 1945 and their successive generations. It explored the characteristics of their education within the framework of educational pathways. Data were sourced from the National Biography, which enabled the selection and examination of families belonging to the business elite up to the fifth generation. The results revealed that the family entrepreneurs and their successors focused on successor upbringing and competitive continuity in the family business. Their educational pathways, shaped by formal and informal education, varied in terms of the unique cultural contexts of their family dynasties. The families employed diverse strategies, including informal conservative education, self-education, growth-oriented education, family wealth governance, higher education-focused learning, industrial education, and elite education pathways. These pathways mirror first-generation family entrepreneurs’ education, the second generation’s evolving educational requirements (in succession, internationalization, and growth), and the third and subsequent generations (in corporate governance and wealth creation). While there were changes in educational needs and content across generations and contexts, this study underscores the importance of educational pathways in conceptualizing the educational history of family businesses.