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1 – 1 of 1DAVID N. LABAND, BERNARD F. LENTZ and JOHN P. SOPHOCLEUS
Family traditions in business operations are common throughout recorded history. From an economic perspective, occupational following may occur voluntarily because valuable…
Abstract
Family traditions in business operations are common throughout recorded history. From an economic perspective, occupational following may occur voluntarily because valuable, job‐specific human capital, which is transferred at low cost from one generation to the next, raises the son's expected return of following in his father's footsteps. Moreover, to the extent family name is utilized as a screening device for entry into restricted occupations, sons may have a double inducement to follow.