Abstract
Students with family business background have three options once it comes to career path decision. This makes the career choice more complex compared to a classical dilemma between seeking an employment and starting a new venture. Based on GUESSS 2013/14 survey conducted in 34 countries with 109 000 participants the influence of personal factors influencing student's career choice in transition countries and countries with developed market economy in Europe was analyzed. By drawing on theory of planned behavior, risk attitudes and family business performance the difference between the two observed groups was investigated. It was found that common denominator of almost fifty years of planned economy in transition countries does influence their career choice intentions especially in terms of personal behavior control, subjective norms and risk attitudes. Findings, based on comparative approach, suggest that environmental context is an important influencing factor which should be considered in further studies of the field.
Highlights
Students with family business background have three options once it comes to career path decision
Young people coming from families with family business background are in a specific situation
When it comes to career decision instead of thinking about the entrepreneurial or employment dilemma they are facing a trilemma with an additional possibility offered by potential family business succession
Summary
Our research data is based on GUESSS 2013/2014 dataset, which partly covers the family business succession issues. Transition countries are in the process of economic system change (Bezemer, 2006) Today, they are in different stages of socio-economic development and transformation process towards the market economy. This paper adopts the definition that a family business is a business where majority share is owned by one or more members of the same family (Barnes & Hershon, 1976) Based on such definition this study includes only students with one or both self-employed parents. The sample had to be limited to intergenerational family firm management transfer For this purpose, our respondents answered the question, "Are your parents currently self-employed or do they have a majority ownership in a company?" The analysis includes only students who answered: "Yes, mother", "Yes, father" or "Yes, both"
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