Family- and non-family-related reasons for entrepreneurial exits
ISSN: 1746-5265
Article publication date: 5 August 2022
Issue publication date: 30 September 2022
Abstract
Purpose
This study examines the family- and non-family-related reasons that may determine the choice of the anticipated entrepreneurial exit strategy (exit intention).
Design/methodology/approach
The study is based on a survey of 267 owner-managers of micro-and small-sized firms in Poland and focuses on their exit intentions (rather than actual actions) as precursors to entrepreneurial exit. Structural equation modelling (SEM) was used to test the hypotheses.
Findings
The results show that family-related reasons may encourage entrepreneurs to choose the stewardship strategy over the financial harvest or voluntary cessation strategies, while non-family-related reasons such as maintaining financial independence and health may encourage the choice of the financial harvest or the voluntary cessation strategy.
Originality/value
This research contributes to both the entrepreneurial exit literature and psychological ownership theory by demonstrating the potential relevance of psychological ownership in the selection of exit strategies.
Keywords
Acknowledgements
Funding: This work is supported by the National Science Center, Poland (Award number: 2016/21/B/HS4/01981).
Citation
Koładkiewicz, I.A., Kaciak, E. and Wojtyra-Perlejewska, M. (2022), "Family- and non-family-related reasons for entrepreneurial exits", Baltic Journal of Management, Vol. 17 No. 5, pp. 671-687. https://doi.org/10.1108/BJM-02-2022-0078
Publisher
:Emerald Publishing Limited
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