BECOMING A FEMALE CEO: WHAT DRIVES FEMALE FAMILY BUSINESS SUCCESSORS IN THAILAND

Abstract

Women play important role in Thai Economy for centuries.  Thailand has been one of the countries with highest ration of female CEO and MD in the world. To maintain this top-woman leadership, knowing what attracts female family business (FB) successors would be a good foundation for maintaining their equal opportunities in business world.  This research collected responses from 280 FB successors using Full Profile Conjoint Analysis (CA) paradigm. There were 2 conjoint studies conducted.  First CA study comprised 5 FB characteristics (Business Age, Business Competition, Generation in Power, Size & Types of FB) where each had 5, 3, 7, 4 and 4 levels, respectively. The second CA study comprised 8 business issues (Culture Issue 1, Culture Issue 2, Diversity, Financial, Human Resource, Marketing Issue 1, Marketing Issue 2, & Fairness in Workplace) where each had 3, 3, 4, 4 5, 4, 5 and 4, respectively. D-optimal algorithm was used to create experimental design for the 2 CA studies. Even though, make and female FB successors share similar attitudes toward the importance of FB characteristics and business issues on trangenertion intent. Collectively female successors tended to considered Cultural issues (i.e., "unclear communication about company's value", "freedom of expression" and "limited career oath") to be more important than the male successors, even though, the issues' utilities were not significantly  different between male and female successors. Additionally, transgeneration intent's utilities of female successors were positively influenced when professionals were hired to manage their FBs; meanwhile, male successors did not care. If their mothers hold the power, it negatively influenced the trangeneration intents especially on female FB successors. The successors reacted positively toward highly competitive business environment, rigid business process and brand image; hoever female successors were more enthusiastic to succeed the FB than male successors. Furthermore, rigid pricing structure turned female successors off more than male successors. These results can help FB current owners to prepare smooth trangeneration FB successor planning through positive reinforcement by manipulating these FB characteristics and issues for their daughters.