Job Satisfaction and Wages of Family Employees
Entrepreneurship: Theory and Practice, Forthcoming
40 Pages Posted: 16 Mar 2012 Last revised: 16 May 2013
Date Written: March 15, 2012
Although they represent a sizable occupational group, little is known about family employees. Using utility theory and the theory of compensating wage differentials, we hypothesize that family employees have higher levels of job satisfaction and lower wages relative to regular employees. We present several regressions based on a large cross-country panel dataset that support our hypotheses, and we discuss our study’s implications for research on family businesses and the labor market.
Keywords: family employees, family firm, job satisfaction, wage, compensating wage differentials, procedural utility
JEL Classification: J28, J31
Suggested Citation: Suggested Citation