2024 Volume 23 Pages 47-68
The purpose of this study is to examine the roles of values of family of origin on children’s decisions to start new firms. In this study, we empirically examine this question by using data from the Panel Study Family Dynamics （PSFD）, a longitudinal survey of a representative sample of Taiwan’s households. In previous studies, while the importance of family values has been highlighted by some researchers, it has rarely been examined by systematic empirical analysis. In the analysis of this study, we constructed a set of panel-data for the period from 2005 to 2012. The results of FGLS random effect model analysis suggest that the people originated from the families that emphasize partnership among family members are more likely to start new firms. The emphasis on normative ties among family members is more likely to reduce the probabilities of starting new firms, although this result is not stable across different econometric specifications. The results of this study suggest strong evidence that family values have significant influences over careers of children as they decide whether to start new firms. While little has been known about the roles of values of family of origin, the results of this study offer a compelling support for the significant roles of family values.
