Career Decisions in the Mediterranean: To Be or Not to Be an Entrepreneur?

Abstract

The significance of individual and family traits has been the main focus of recent studies on family business succession; nevertheless, regional effects have frequently been overlooked. Using individual level cross-country data, this study examines the effects of regional
circumstances on the career choice intentions of family business heirs regarding employment, starting their own entrepreneurial venture, or family firm succession. By employing data from the 2018 GUESSS survey and applying binominal logistic regression, we have discovered that two groups of several nations (European and non-European Mediterranean countries) have several differences. We also show that individual features in the family firm, and start-up time, are significant factors, even beyond conditions such as university environment, entrepreneurship in the curricula, entrepreneurial attitudes, locus of control, power distance and subjective norms. Policies regarding company succession and related firm survival should be particularly based on various macroeconomic and youth labour market factors in order to reduce succession failures.