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Entrepreneurial exit as a critical component of the entrepreneurial process: Theoretical development

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  • DeTienne, Dawn R.
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    Abstract

    By demonstrating the importance of entrepreneurial exit to the entrepreneur, the firm, the industry, and the economy I contend that our understanding of the entrepreneurial process is incomplete without the inclusion of entrepreneurial exit. I define entrepreneurial exit and demonstrate how this conceptualization provides concepts that are unique from those addressed by researchers in other domains; thus outlining a space for it within the literature. In each phase of the entrepreneurial process I explore the development of an exit strategy, reasons for exit and options for exit.

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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Business Venturing.

    Volume (Year): 25 (2010)
    Issue (Month): 2 (March)
    Pages: 203-215

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    Handle: RePEc:eee:jbvent:v:25:y:2010:i:2:p:203-215

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    Web page: http://www.elsevier.com/locate/jbusvent

    Related research

    Keywords: Entrepreneurial exit Entrepreneurial process Psychological ownership;

    References

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    1. Baron, Robert A., 2004. "Potential benefits of the cognitive perspective: expanding entrepreneurship's array of conceptual tools," Journal of Business Venturing, Elsevier, Elsevier, vol. 19(2), pages 169-172, March.
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    Cited by:
    1. Dehlen, Tobias & Zellweger, Thomas & Kammerlander, Nadine & Halter, Frank, 2014. "The role of information asymmetry in the choice of entrepreneurial exit routes," Journal of Business Venturing, Elsevier, Elsevier, vol. 29(2), pages 193-209.
    2. Mattias Nordqvist & Karl Wennberg & Massimo Bau’ & Karin Hellerstedt, 2013. "An entrepreneurial process perspective on succession in family firms," Small Business Economics, Springer, Springer, vol. 40(4), pages 1087-1122, May.
    3. Jolanda Hessels & Isabel Grilo & Roy Thurik & Peter Zwan, 2011. "Entrepreneurial exit and entrepreneurial engagement," Journal of Evolutionary Economics, Springer, Springer, vol. 21(3), pages 447-471, August.
    4. Sofie Balcaen & Sophie Manigart & Jozefien Buyze & Hubert Ooghe, 2012. "Firm exit after distress: differentiating between bankruptcy, voluntary liquidation and M&A," Small Business Economics, Springer, Springer, vol. 39(4), pages 949-975, November.
    5. Sandri, Serena & Schade, Christian & Mußhoff, Oliver & Odening, Martin, 2010. "Holding on for too long? An experimental study on inertia in entrepreneurs' and non-entrepreneurs' disinvestment choices," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 76(1), pages 30-44, October.
    6. Wennberg, Karl & Wiklund, Johan & DeTienne, Dawn & Cardon, Melissa, 2009. "Reconceptualizing Entrepreneurial Exit: Divergent Exit Routes and Their Drivers," Working Paper Series in Business Administration, Stockholm School of Economics 2009:10, Stockholm School of Economics.
    7. Syed Awais Ahmad Tipu, 2012. "What have we learned? Themes from the literature on necessity driven entrepreneurship," World Review of Entrepreneurship, Management and Sustainable Development, Inderscience Enterprises Ltd, Inderscience Enterprises Ltd, vol. 8(1), pages 70-91.
    8. Gottschalk, Sandra & Greene, Francis J. & Höwer, Daniel & Müller, Bettina, 2014. "If you don't succeed, should you try again? The role of entrepreneurial experience in venture survival," ZEW Discussion Papers, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research 14-009, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    9. Albiol, Judit, 2014. "The Significance of Business Exit for Future Entrepreneurial Activity," Working Papers, Universitat Rovira i Virgili, Department of Economics 2072/238221, Universitat Rovira i Virgili, Department of Economics.
    10. Elena Cefis & Orietta Marsili, 2011. "Revolving doors: entrepreneurial survival and exit," Journal of Evolutionary Economics, Springer, Springer, vol. 21(3), pages 367-372, August.
    11. Juita-Elena Yusuf, 2012. "A tale of two exits: nascent entrepreneur learning activities and disengagement from start-up," Small Business Economics, Springer, Springer, vol. 39(3), pages 783-799, October.
    12. Dawn DeTienne & Melissa Cardon, 2012. "Impact of founder experience on exit intentions," Small Business Economics, Springer, Springer, vol. 38(4), pages 351-374, May.
    13. Vera Rocha & Anabela Carneiro & Celeste Amorim Varum, 2013. "Entrepreneurship Dynamics: Entry Routes, Business-Owner's Persistence and Exit Modes," CEF.UP Working Papers, Universidade do Porto, Faculdade de Economia do Porto 1310, Universidade do Porto, Faculdade de Economia do Porto.
    14. Wennberg, Karl & Wiklund, Johan & Hellerstedt, Karin & Nordqvist, Mattias, 2011. "Implications of Intra-Family and External Ownership Transfer Of Family Firms: Short Term and Long Term Performance," Ratio Working Papers, The Ratio Institute 172, The Ratio Institute.
    15. Sharon Simmons & Johan Wiklund & Jonathan Levie, 2014. "Stigma and business failure: implications for entrepreneurs’ career choices," Small Business Economics, Springer, Springer, vol. 42(3), pages 485-505, March.
    16. Broström, Anders & Baltzopoulos, Apostolos, 2013. "Higher education experiences and new venture performance," Working Paper Series in Economics and Institutions of Innovation, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies 321, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
    17. Block, J.H. & Thurik, A.R. & van der Zwan, P.W. & Walter, S., 2010. "Business Takeover or New Venture? Individual and Environmental Determinants from a Cross-Country Study," ERIM Report Series Research in Management, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasm ERS-2010-042-ORG, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.

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