Revisiting the Entrepreneurial Exit Decision Process

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

“…DeTienne and Cardon (2012) pointed out that all entrepreneurs eventually exit their firms, whether they founded the firm or acquired it through a business transfer. In considering entrepreneurs' exit, it is important to distinguish between the intention to exit in general and the intention to exit through a specific exit strategy (Drapeau and Tremblay, 2020) and between the actual exit and various intentions regarding exit or exit routes. Exit may be viewed as an event but also as a process involving volitional decision-making (DeTienne and Wennberg, 2016;Morris et al, 2020), and forming intentions concerning the manner in which the exit will take place is easily conceivable as a part of that process.…”

“…More inclusive business transfer studies can shed new light on the complex phenomenon of entrepreneurial exit, as demonstrated here. Recently, Drapeau and Tremblay (2020) concluded that stewardship exit strategies are, in fact, business transfers, as they involve the transfer of the business to another party (cf. DeTienne et al, 2015 on financial harvests).…”

“…DeTienne, 2010; DeTienne and Cardon, 2012;Parastuty, 2018;Piva and Rossi-Lamastra, 2017;van Teeffelen and Uhlaner, 2013;Wennberg et al, 2010). Entrepreneurial exit studies encompass all forms of exit, from family succession to independent sale and discontinuation (Drapeau and Tremblay, 2020).…”