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Family managers' entrepreneurial intentions (EI) play a crucial role in the long-term success of family firms. Previous research has highlighted education as a key driver of EI but has failed to consider the unique socialization processes within business families and their impact on the education-EI relationship. This study aims to fill this gap by examining the direct and indirect effects of education on family managers' EI. By combining the integrated model of EI and research on business families' socialization patterns, a study was conducted with a role-playing experimental design involving 412 family firm managers. The results indicate that entrepreneurial self-efficacy (ESE) serves as a mediator between education and EI, while the ESE-EI relationship is further mediated by risk perceptions. Interestingly, no direct effect of education on EI was found, suggesting that the influence of education on EI follows distinct patterns within business families. [ABSTRACT FROM AUTHOR]

Abstract Researchers often struggle when applying 'golden rules of thumb' to evaluate structural equation models. This paper questions the notion of universal thresholds and calls for adjusted orientation points that [...]

Sustainability as a vital purchase criterion in sustainable consumption contexts is often biased by misguided information. In this context, we investigate the hindsight bias, i.e., consumers think in hindsight that they knew what would happen all along, may lead consumers to think they evaluated attributes of unsustainable or sustainable products correctly all the time while they did not, devaluating downstream marketing variables. This paper experimentally investigates the hindsight bias by manipulating information about a products' sustainability. We focus on two perspectives about hindsight biases, namely, marketing and psychology, to explore the interaction of surprise and sustainability. In a set of two online studies (Study 1: n = 300; Study 2: n = 461), we found a group‐based hindsight bias for high‐involvement, unsustainable products (Study 1) and individual hindsight biases for low‐involvement, unsustainable and sustainable products (Study 2). Contributing to both, mostly separately researched perspectives, we conclude that neither is predominantly correct. Instead, both perspectives jointly determine why consumers evaluate products differently. Confronted with surprising, sustainable information about unsustainable products causes a hindsight bias that increases purchase intention and word of mouth. In contrast, surprising, unsustainable information about sustainable products show opposed effects. Implications for marketing practice show when product information can unintentionally cause greenwashing and how product information should be communicated to underline a product's sustainability. [ABSTRACT FROM AUTHOR]