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Late-career entrepreneurship, income and quality of life

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  • Kautonen, Teemu
  • Kibler, Ewald
  • Minniti, Maria

Abstract

Late-career transitions to entrepreneurship are discussed as a promising way to address some of the problematic implications of population aging. By extending employment choice theory to simultaneously account for career stage and for non-monetary rewards from entrepreneurship, we investigate how late-career transitions from organizational employment to entrepreneurship influence the returns from the monetary (income) and non-monetary (quality of life) components of an individual's utility. Using data from the English Longitudinal Study of Ageing, our empirical analysis shows that for late-career individuals, starting a business is positively associated with change in quality of life and negatively associated with change in income.

Suggested Citation

  • Kautonen, Teemu & Kibler, Ewald & Minniti, Maria, 2017. "Late-career entrepreneurship, income and quality of life," Journal of Business Venturing, Elsevier, vol. 32(3), pages 318-333.
    • Handle: RePEc:eee:jbvent:v:32:y:2017:i:3:p:318-333
    DOI: 10.1016/j.jbusvent.2017.02.005
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