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Career aspirations and financial planning of young people in family businesses

Author

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  • Banerjee, Ameet Kumar
  • Mishra, Subhendu Kumar
  • Sensoy, Ahmet

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.

Suggested Citation

  • Banerjee, Ameet Kumar & Mishra, Subhendu Kumar & Sensoy, Ahmet, 2024. "Career aspirations and financial planning of young people in family businesses," Research in International Business and Finance, Elsevier, vol. 70(PB).
    • Handle: RePEc:eee:riibaf:v:70:y:2024:i:pb:s0275531924001569
    DOI: 10.1016/j.ribaf.2024.102363
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    More about this item

    Keywords

    Career choices; Family social capital; Self-efficacy; Outcome expectations; Multinomial logistic regression;
    All these keywords.

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights

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