Reinventing entrepreneurship from SMEs: autonomy and perceived parental entrepreneurial rewards in emerging economies

Purpose This paper aims to investigate the indirect relationships by which family business involvement affects Vietnamese students’ entrepreneurial intentions via perceived parental entrepreneurial rewards (PPER), and the moderating role of autonomy, using social cognitive theory (SCT) and self-determination theory (SDT) within small and medium enterprises (SMEs) in Vietnam, an emerging economy. Design/methodology/approach The study used a quantitative research approach with a sample of 305 university students across the nation and analyzed the data using partial least squares structural equation modeling. Findings The results show positive direct effects of family business involvement on entrepreneurial intention, and an indirect effect through PPER. Moreover, autonomy acts both as a strengthening moderator on the positive effect of PPER in entrepreneurial intention and a weakening moderator on the direct effect of family business involvement in entrepreneurial intention. Originality/value This study advances contextual theorizing in family business research by shifting the focus from examining whether family business involvement encourages entrepreneurial intention to explaining why and under what conditions this relationship occurs in emerging markets. By identifying PPER as a transgenerational value transmission mechanism and integrating SCT and SDT to incorporate autonomy, the study provides a richer explanation of entrepreneurial intention among students from family-owned SMEs in an emerging economy. The findings also reinforce the transgenerational entrepreneurship perspective by showing that entrepreneurial values can be transmitted across generations through independent entrepreneurial aspirations rather than business succession alone, thereby reflecting strategic reinvention in emerging economies like Vietnam. Practical implications are offered for families, educational institutions and policymakers seeking to foster entrepreneurship among Gen Z.