BEQUEST DISTRIBUTION AMONG ENTREPRENEURS IN MALAYSIA: ARE MALAYSIAN ENTREPRENEURS SELFISH, ALTRUISTIC, DYNASTIC, OR SOCIAL NORMS AND TRADITION?

Abstract

This paper investigates the bequest motives among Malaysian entrepreneurs to understand the motives influencing their decisions in wealth distribution to their beneficiaries. Empirical evidence has shown great emphasis on the influence of bequest motives on economic indicators while limited studies to show the bequest motives of individuals in different settings. A survey questionnaire has collected 103 responses from Malaysian entrepreneurs using non-probability convenience and snowball sampling methods and the data were further analysed using IBM SPSS Statistics 26. The findings indicate that Malaysian entrepreneurs exhibit diverse bequest motives, including dynasty (prioritising family legacy and family business), selfish life-cycle (prioritising personal consumption and future support from children), social norms and tradition (adhering to cultural expectations), and altruism (supporting children with greater needs). The findings suggest Malaysian entrepreneurs are slightly skewed towards social norms and tradition and altruism bequest motives. This study contributes to the literature on household economics and family businesses by offering insights into the bequest motives of Malaysian entrepreneurs. Further research could explore how bequest motives vary based on factors such as birth order and gender among children.