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The planned decision to transfer an entrepreneurial company

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Author Info

  • Leroy, H.
  • Manigart, S.
  • Meuleman, M.

    (Vlerick Leuven Gent Management School)

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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File URL: http://www.vlerick.com/en/10845-VLK/version/default/part/AttachmentData/data/vlgms-wp-2009-13.pdf
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Bibliographic Info

Paper provided by Vlerick Leuven Gent Management School in its series Vlerick Leuven Gent Management School Working Paper Series with number 2009-13.

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Length: 29 pages
Date of creation: 18 May 2009
Date of revision:
Handle: RePEc:vlg:vlgwps:2009-13

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Related research

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

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References

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  1. 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.
  2. 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.
  3. Wennberg, Karl & Wiklund, Johan & DeTienne, Dawn R. & Cardon, Melissa S., 2010. "Reconceptualizing entrepreneurial exit: Divergent exit routes and their drivers," Journal of Business Venturing, Elsevier, vol. 25(4), pages 361-375, July.
  4. 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.
  5. 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.
  6. Ajzen, Icek, 1991. "The theory of planned behavior," Organizational Behavior and Human Decision Processes, Elsevier, vol. 50(2), pages 179-211, December.
  7. 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.
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Cited by:
  1. Balcaen,S. & Buyze, J. & Ooghe,H., 2009. "Financial distress and firm exit: determinants of involuntary exits, voluntary liquidations and restructuring exits," Vlerick Leuven Gent Management School Working Paper Series 2009-21, Vlerick Leuven Gent Management School.
  2. Geraldine Ryan & Bernadette Power & Noreen McCarthy & Paul Braidford, 2011. "Regional Influences oBusiness Transfers within the British Isles," ERSA conference papers ersa10p1094, European Regional Science Association.

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