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The family business is a business family members have developed, whose ownership and policy-making are dominated by members of a group with emotional kinship. The purpose of this study is to analyze whether the management succession patterns including a personality system, a family system, a ownership right system and a management system become the primary factors determining the success of the family business The results of the study, using Partial Least Square showed Family System variable, had significant influence on Sustainability Family Business Meanwhile, Personality System, Ownership System and Personality system variables had no significant effects on Sustainability of the family business. ; peer-reviewed

This study aims not only to verify 'the experiential learning–entrepreneurial mindset relationship', but also to test which entrepreneurial characteristics (i.e., innovativeness, risk-taking propensity, need for achievement, and proactiveness) moderate 'the experiential learning–entrepreneurial mindset relationship'. The data were collected from 313 undergraduate students who have already taken the entrepreneurship course and analyzed using confirmatory factor analysis and hierarchical regression analysis. The results showed the positive relationships between experiential learning and elaboration mindset, and between experiential learning and implementing mindset. However, need for achievement and proactiveness were found to moderate 'the experiential learning–entrepreneurial mindset relationship', whereas innovativeness and risk-taking propensity did not moderate that relationship. This study provides theoretical implications in extending the literature of experiential learning theory, Dweck's implicit theory of intelligence, and entrepreneurial characteristics. This study also has practical implications for entrepreneurship educators.

Received: 16 September 2022 / Accepted: 25 December 2022 / Published: 5 January 2023