A Correspondence Analysis Regarding Thai Entrepreneurs’ Values Across Various Generations

Chutinon Putthiwanit

TTASSH. 2026 June ; 6(2): 9-16. Published online June 2026

doi.org/10.36647/TTASSH/06.02.A002

Abstract : Generational gaps can have an extremely important role in shaping both the economic as well as the social characteristics of societies. This quantitative research uses secondary data from Wave 7 of World Values Survey to investigate the attitudes of 673 self-employed entrepreneurs in Thailand concerning the economic values. Thai entrepreneurs are classified on the basis of their generation (i.e., Baby Boomers, Generation X, Generation Y, and Generation Z). By using multivariate analysis, Correspondence Analysis, it has been found that Generation Z is an outlier in terms of their thought process concerning economic values. For example, unlike other generations, Generation Z believes that the effects of economic competition on societies are more damaging rather than constructive. They are also conscious about how the economies and environments can grow in parallel. This finding could help future researchers to investigate further into Generation Z and their mindset, particularly Thai Generation Z entrepreneurs.

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