Family firm entrepreneurship: An experimental study

Abstract

Family managers' entrepreneurial intentions (EI) play a crucial role in the long-term success of family firms. Previous research has highlighted education as a key driver of EI but has failed to consider the unique socialization processes within business families and their impact on the education-EI relationship. This study aims to fill this gap by examining the direct and indirect effects of education on family managers' EI. By combining the integrated model of EI and research on business families' socialization patterns, a study was conducted with a role-playing experimental design involving 412 family firm managers. The results indicate that entrepreneurial self-efficacy (ESE) serves as a mediator between education and EI, while the ESE-EI relationship is further mediated by risk perceptions. Interestingly, no direct effect of education on EI was found, suggesting that the influence of education on EI follows distinct patterns within business families.