Correlation between macro economy and career choice intention

What is it about?

The paper investigates the impacts of macroeconomic conditions on family business heir’s career choice intention using individual level cross-country data of 18 European countries for the year 2013. We find that the level of economic development measured by GDP per capita, growth of GDP per capita, and the youth rate of unemployment influence a family business heir’s career choice intention. We also demonstrate that beyond the cross-country differences in macroeconomic conditions, individual characteristics of siblings, age, gender, work experience in a family business, and start-up time play an important role. To mitigate succession failures, policies towards business succession with related fi rm survival should be specifically designed depending on different macroeconomic and youth labour market conditions.

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Why is it important?

It is one of the first papers investigating a correlation between macroeconomic factors and career choice intention.