Abstract
This paper empirically analyzes the existence of intergenerational transmission of entrepreneurial activity, from parents to children within Spanish families. We used data from the Survey of Household Finances (Bank of Spain) for the years 2002, 2005, 2008, 2011, and 2014, which allowed us to identify entrepreneurs as self-employed workers. The entrepreneurial activity of individuals was studied as a function of individual and parental demographics and labor characteristics. We found a significant correlation between the entrepreneurial activity of parents and children, which appeared to have remained unchanged during the last decade and the years of the economic crisis. Furthermore, the intergenerational transmission of occupation from parents to children was stronger for entrepreneurs than for employees.
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Blumberg and Pfann (2016) provide a theoretical framework to study the role of human, financial, and social capital in the dynamics of entrepreneurial transmission.
An alternative would have been to use the Spanish Economically Active Population Survey (http://www.ine.es/prensa/epa_prensa.htm). However, the SHF contains a more detailed description of occupation for respondents and their parents.
Specifically, for the empirical analysis presented in this paper, the data used should be interpreted as a cross-section. Although the SHF allows us to build a data panel, that process is associated with the loss of many of the observations, as some households of wave T are selected from wave T – 1, but no prior considerations are made about wave T with respect to wave T – 2. Consequently, despite that for every two consecutive waves there is a subsample of households that appear in both, there is no established subsample of households regularly interviewed in each wave, which would make the sample of a data panel covering the whole period too small to develop a representative analysis. For instance, the number of households presented in the SHF from 2002 to 2014, once restrictions to the sample were applied, was zero.
The initial number of observations prior to sample restrictions was 22,798 children (from 14,103 families), where 4496 were from 2002, 4804 from 2005, 4496 from 2008, 4576 from 2011, and 4426 from 2014.
The SHF includes the following levels of education: illiterate (1), primary education (2), training and job placement that do not require a degree from the first stage of secondary (3), first stage of secondary education (4), training and job placement that require a secondary degree of the first stage (5), second stage of secondary education (6), training and job placement that require a second-stage secondary degree (7), higher vocational education, plastic arts, design and sports (8), other courses of 2 or more years that require the baccalaureate degree (9), first and second cycle university education (10), official professional specialization studies (11), and university education of the third cycle (12). This classification had been recoded as follows: compulsory education (1, 2, 3, 4, 5), secondary non-compulsory education (6, 7, 8, 9), and university education (10, 11, 12). In addition, the financial capital of families was defined as the total annual expenditure of each family.
We must acknowledge that we could not study whether child entrepreneurs who worked in the same occupation as their parents and, in particular, those working in the administration of business, inherited the business. As a consequence, we could not directly conclude that the inheritance of a (family) business was a source of intergenerational transmission of entrepreneurship.
Our estimates of marginal effects were in line with prior estimates of different transmissions in Spain and other countries, such as religiosity, fertility, divorce, income, education, or socio-economic status (Brañas-Garza and Neuman 2007; Dronkers and Harkonen 2008; Duarte et al. 2018; Montañés et al. 2012; Pascual 2009; Reher et al. 2008; Solon 2002).
Intergenerational transmission could depend on specific regional or geographic characteristics, and a similar heterogeneous analysis to that of year fixed effects, interacted with the explanatory variable, should be developed. Unfortunately, because of anonymity issues, the SHF does not provide data on the region of residence or the place of birth of interviewees. Future research should focus on whether the structural characteristics of regions drive entrepreneurial transmission.
It must be noted that not all individuals who report being self-paid are necessarily entrepreneurs, are running a firm or enterprise, or are self-employed workers. Furthermore, Spain is a country where the so-called false self-employed workers (e.g., workers registered as self-employed, or freelancer, while working subordinately for another company) are supposed to have a strong presence. Both facts could, consequently, bias our estimates.
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This article has benefited from funding from “Cátedra Emprender” (University of Zaragoza-Fundación Emprender en Aragón), and from the Government of Aragón (“Programa Operativo FSE Aragón 2014–2020”). We are grateful from comments from Prof. José Alberto Molina.
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Ferrando-Latorre, S., Velilla, J. & Ortega, R. Intergenerational Transmission of Entrepreneurial Activity in Spanish Families. J Fam Econ Iss 40, 390–407 (2019). https://doi.org/10.1007/s10834-019-09613-7
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DOI: https://doi.org/10.1007/s10834-019-09613-7