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The Planned Decision To Transfer An Entrepreneurial Company

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Author Info
H. LEROY
S. MANIGART ()
M. MEULEMAN

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Abstract

We expand and test Ajzen’s Theory of Planned Behavior (TPB) to explain the transfer of an entrepreneurial venture upon exit. Our results confirm TPB: transfer intentions and perceived control over the transfer are the main drivers of the likelihood to transfer. In addition, contextual business characteristics complement TPB in explaining transfer outcomes. While intangibility of firm assets directly impacts transfer outcomes, business viability is partially mediated via transfer intentions. These results shed more light on the role of implicit planning in transfer decisions and help to better understand contextual factors impacting the process of entrepreneurial exits.

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Publisher Info
Paper provided by Ghent University, Faculty of Economics and Business Administration in its series Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium with number 09/577.

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Length: 29 pages
Date of creation: Apr 2009
Date of revision:
Handle: RePEc:rug:rugwps:09/577

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Related research
Keywords: entrepreneurial exit; exit process; transfer decision; Theory of Planned Behavior;

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This paper has been announced in the following NEP Reports: References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Sharma, Pramodita & Chrisman, James J. & Chua, Jess H., 2003. "Predictors of satisfaction with the succession process in family firms," Journal of Business Venturing, Elsevier, vol. 18(5), pages 667-687, September. [Downloadable!] (restricted)
  2. Bjuggren, Per-Olof & Sund, Lars-Goran, 2002. " A Transaction Cost Rationale for Transition of the Firm within the Family," Small Business Economics, Springer, vol. 19(2), pages 123-33, September. [Downloadable!] (restricted)
  3. Wennberg, Karl & Wiklund, Johan & DeTienne, Dawn & Cardon, Melissa, 2009. "Reconceptualizing Entrepreneurial Exit: Divergent Exit Routes and Their Drivers," Working Paper Series in Business Administration 2009:10, Stockholm School of Economics. [Downloadable!]
  4. Ajzen, Icek, 1991. "The theory of planned behavior," Organizational Behavior and Human Decision Processes, Elsevier, vol. 50(2), pages 179-211, December. [Downloadable!] (restricted)
  5. Kolvereid, Lars & Isaksen, Espen, 2006. "New business start-up and subsequent entry into self-employment," Journal of Business Venturing, Elsevier, vol. 21(6), pages 866-885, November. [Downloadable!] (restricted)
  6. Sarasvathy, Saras D., 2004. "The questions we ask and the questions we care about: reformulating some problems in entrepreneurship research," Journal of Business Venturing, Elsevier, vol. 19(5), pages 707-717, September. [Downloadable!] (restricted)
  7. Birley, Sue & Westhead, Paul, 1990. "Private business sales environments in the United Kingdom," Journal of Business Venturing, Elsevier, vol. 5(6), pages 349-373, November. [Downloadable!] (restricted)
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  1. S. Balcaen & J. Buyze & H. Ooghe, 2009. "Financial distress and firm exit: determinants of involuntary exits, voluntary liquidations and restructuring exits," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 09/598, Ghent University, Faculty of Economics and Business Administration. [Downloadable!]
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This page was last updated on 2009-11-30.

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