Entrepreneurial Exit Literature at the Individual Level of Analysis: A Bibliometric Review

Sanguineti, Francesca

doi:10.5539/ijbm.v17n9p53

Cited by 1 publication

(1 citation statement)

References 63 publications

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“…While the reasons for and choice of exit is arguably as important as entry into entrepreneurship, the former has received less research attention (Parastuty, 2018), and the research that exists on entrepreneurial exit is at an early stage although gaining importance (Wennberg and DeTienne, 2014;Sanguineti, 2022). One topic that has been addressed extensively in family business research is succession (e.g.…”

Section: Introductionmentioning

confidence: 99%

Retiring entrepreneurs and succession planning: does entry mode determine exit strategy?

Viljamaa,

Joensuu-Salo,

Varamäki

2024

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PurposeThe purpose is to examine the relationship between entrepreneurs’ exit strategies and modes of entry. The topic of exit strategies in the context of approaching retirement warrants further attention.Design/methodology/approachWe apply logistic regression to analyse 1,192 responses to an online survey of firms with entrepreneurs aged over 55.FindingsFamily successors are more likely to choose family succession and buyers to choose to sell, but the association between founding and exit mode cannot be confirmed. Firm size is also significant. Our findings suggest that entry and exit via a business transfer are linked. Entrepreneurs might be influenced by their form of entry when choosing their exit strategy.Research limitations/implicationsThe data were collected from a single European country, limiting generalisation. Future research should incorporate intervening variables not controlled for here, such as, entrepreneurial experience. Future studies should also seek to test the existence of imprinting directly, as it is implied rather than verified here.Practical implicationsIf the entry mode has a lasting effect on the entrepreneur as our results suggest, thus influencing the exit strategy selected, entrepreneurs could benefit from greater awareness of the imprinting mechanism. Increasing awareness of imprinted biases could unlock the benefits of exit strategies previously overlooked.Originality/valueThe study is the first to consider sale, family succession and liquidation as exit strategies in relation to the original entry mode of ageing owners. It contributes to the understanding of exit strategies of ageing entrepreneurs and proposes using entrepreneurial learning and imprinting as lenses to clarify the phenomenon.

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Section: Introductionmentioning

confidence: 99%