Does parental socio-economic status matter for the success of start-ups of first-time founders? Evidence from Germany

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F23%3A43923661" target="_blank" >RIV/62156489:43110/23:43923661 - isvavai.cz</a>

Alternative codes found

RIV/62156489:43310/23:43923661

Result on the web

<a href="https://doi.org/10.54609/reaser.v25i1.322" target="_blank" >https://doi.org/10.54609/reaser.v25i1.322</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.54609/reaser.v25i1.322" target="_blank" >10.54609/reaser.v25i1.322</a>

Result language

angličtina

Original language name

Does parental socio-economic status matter for the success of start-ups of first-time founders? Evidence from Germany

Original language description

The aim of this paper is to establish the influence of parental socio-economic status on the profitability and growth of first-time founders in Germany. Semi-structured interviews were conducted with 20 first-time founders to establish their socio-economic status, parental influence on their success as founders, and the impact of parental socio-economic status on their financial success. The main findings showed that the majority of participants believed that the high socio-economic status of parents had a significant positive effect on the financial success of new start-ups, although those from lower socio-economic backgrounds could also succeed. The characteristics of unequal social status were often expressed and the status of German as a nation with low social mobility was confirmed. However, the extent to which financial support and context networks supported founders from high socio-economic status families was difficult to ascertain as founders were often unwilling to admit its actual influence. In contrast, the parental influences on values and positive attributes relating to their success were more freely discussed. Based on the revenues and valuation of the start-up companies, two trends for first-time founder success were identified: the most successful founders had parents with high socio-economic status; some very successful founders demonstrated high social mobility, which is contrary to the existing data that social mobility in German is very low.

Czech name

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Czech description

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Type

J_SC - Article in a specialist periodical, which is included in the SCOPUS database

CEP classification

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OECD FORD branch

50204 - Business and management

Project

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Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2023

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Review of Applied Socio-Economic Research

ISSN

2247-6172

e-ISSN

2247-6172

Volume of the periodical

25

Issue of the periodical within the volume

1

Country of publishing house

RO - ROMANIA

Number of pages

17

Pages from-to

66-82

UT code for WoS article

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EID of the result in the Scopus database

2-s2.0-85164125528