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Entrepreneurship and family businesses in Thailand
Author(s) -
Kilenthong Weerachart T.,
Rueanthip Kittipong
Publication year - 2018
Publication title -
asian‐pacific economic literature
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.232
H-Index - 21
eISSN - 1467-8411
pISSN - 0818-9935
DOI - 10.1111/apel.12215
Subject(s) - entrepreneurship , family business , apprenticeship , business , sample (material) , family member , marketing , small business , demographic economics , business administration , economics , finance , medicine , linguistics , philosophy , chemistry , chromatography , family medicine
This paper investigates the impact of exposure to a family business and participating in a family business on an individual's decision to start a business and the likelihood of its survival. We find that having a family member doing business increases the probability of starting a business but not its survival. In contrast, working in a family‐owned business for a high number of hours increases both the likelihood of entrepreneurship and survival. The impact of working hours in a family‐owned business remains significant even if the sample includes only individuals who are the spouses of business owners. Given the evidence, an apprenticeship scheme should be considered as a policy instrument for promoting entrepreneurial success.