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The purpose is to examine the relationship between entrepreneurs’ exit strategies and modes of entry. The topic of exit strategies in the context of approaching retirement warrants further attention.

We apply logistic regression to analyse 1,192 responses to an online survey of firms with entrepreneurs aged over 55.

Family successors are more likely to choose family succession and buyers to choose to sell, but the association between founding and exit mode cannot be confirmed. Firm size is also significant. Our findings suggest that entry and exit via a business transfer are linked. Entrepreneurs might be influenced by their form of entry when choosing their exit strategy.

The data were collected from a single European country, limiting generalisation. Future research should incorporate intervening variables not controlled for here, such as, entrepreneurial experience. Future studies should also seek to test the existence of imprinting directly, as it is implied rather than verified here.

If the entry mode has a lasting effect on the entrepreneur as our results suggest, thus influencing the exit strategy selected, entrepreneurs could benefit from greater awareness of the imprinting mechanism. Increasing awareness of imprinted biases could unlock the benefits of exit strategies previously overlooked.

The study is the first to consider sale, family succession and liquidation as exit strategies in relation to the original entry mode of ageing owners. It contributes to the understanding of exit strategies of ageing entrepreneurs and proposes using entrepreneurial learning and imprinting as lenses to clarify the phenomenon.

This study examines the family- and non-family-related reasons that may determine the choice of the anticipated entrepreneurial exit strategy (exit intention).

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.

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.

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.

The study aims to investigate whether the perceived problems in exiting a business—as well as the scope of and access to external support—may impact an entrepreneur's decision regarding the exit strategy, that is, the choice between the stewardship and harvest exit strategy.

The authors have collected data from 302 entrepreneurs using a novel survey instrument and subjected the sample to structural equation modeling (SEM) and ordered logit regressions.

The results reveal that potential difficulties in implementing an exit strategy, the scope of external support anticipated by the exiting entrepreneur and access to such support influence the potential choice of an exit strategy. Furthermore, the findings indicate that the stewardship exit strategy is preferred over the harvest exit strategy by entrepreneurs who face potential difficulties in obtaining external support or foresee problems related to a potential exit strategy.

This study provides new insights into an entrepreneur's exit phenomenon by adding new elements, such as perceived problems involved in exiting a business as well as the scope of and access to external support, to the list of factors that may affect the choice of an exit strategy.

Interorganisational buyer‐seller relationships have been primarily studied from the perspective of relationship development and the benefits accrued from relationships. There is a lack of research concerning problems with relationships and relationship dissolution. The dissolution of a business relationship can be either desirable, freeing badly deployed resources, as indicated by the customer portfolio approach, or harmful, involving costly legal disputes and the loss of company reputation. By employing a theory‐driven case study approach we examine the exit strategies available for the disengager in dissolving interorganisational buyer‐seller relationships. We show that the quality of dissolution is affected by the disengager’s choice of exit strategy. Managerial suggestions are provided for achieving “beautiful exits”, i.e. such communication strategies which minimise damages of the dissolution to the disengager, the other party, and the connected business network.

The purpose of this study is to empirically investigate the impact of incumbents’ defensive strategies, specifically price-cut and capacity expansion, on new entrants’ (NEs) exit decisions and examine the moderating role of incumbents’ relational market-based assets (RMBAs).

Drawing upon real options theory, an empirical study using logistic regression is conducted on a rich, multi-market data set of NE exits between 1997 and 2019 in the U.S. airline industry.

Contrary to intuitive expectation, the results show that cutting prices in response to entry reduces NEs’ likelihood of market exit. However, when incumbents possess strong RMBAs, using a price cut proves to be effective in pushing NEs out of a market. Moreover, an NEs’ exit likelihood is higher when incumbents expand capacities in response to entry.

In this study, market exit is defined as a complete withdrawal from the market and operationalized as a binary variable. Future research could examine different degrees of downscaling by NEs while remaining in the market.

This research demonstrates the opposing effects of price-cut and capacity expansion and the crucial role of RMBAs and advises managers to be cautious and consider trade-offs when implementing their defensive strategies to push NEs out of their markets.

This study contributes to the literature by examining the impact of incumbents’ defensive strategies, price-cut and capacity expansion, side by side and exploring the moderating role of RMBAs. Extant research has focused on antecedents of defensive strategies, whereas the consequences are the focus of this research.

It has been witnessed that many incidents of crowd evacuation have resulted in catastrophic results, claiming lives of hundreds of people. Most of these incidents were a result of localized herding that eventually turned into global panic. Many crowd evacuation models have been proposed with different aspects of interests. The purpose of this paper is to attempt to bring together many of these aspects to study evacuation dynamics.

The proposed agent-based model, in a hypothetical physical environment, uses perception maps for routing decisions which are constructed from agents’ personal observations of the surroundings as well as information gathered through distant communication. Communication is governed by a trust model which measures the authenticity of the information being shared. Agents are of two types; emotional and rational. The trust model is combined with a game-theoretic model to resolve conflict of agents’ own type with that of types of agents in the neighborhood.

Evacuation dynamics in different environmental and exit strategies are evaluated on the basis of reduced herding and evacuation time. Using this integrated information sharing model, agents gain an overall view of the environment, sufficient to select the optimal path towards exits with respect to reduced herding and evacuation time.

The proposed model has been formulated and established using an agent-based simulation integrating important modeling aspects. The paper helps in understanding the interplay between technological and humanistic aspects in smart and pervasive environments.

The existing literature on venture capitalists’ (VCs’) exits provides insufficient evidence regarding factors affecting the exit decision. This study aims to identify these factors and examine how VC firms do ranking or prioritize these factors.

The study is based on primary data. The qualitative analysis was done to develop the survey instrument. Fuzzy analytical hierarchical process, which is a popular method of multi-criteria decision modeling, is used to identify or rank the determinants of exit strategy by venture capital firms in India.

Broadly, eight determinants of exit strategy are ranked by VCs. A total of 33 statements describe these eight determinants. The results are analyzed on the basis of four measures of VCs’ profile, i.e. age of VC firm, number of start-ups in portfolios, type of investment and amount of investment.

The survey instrument needs to be validated with a larger sample size and other financial backers than VCs.

The study has direct managerial implication for VC firms as it provides useful information regarding the determinants of exit strategy by VC firms in India. These findings can provide necessary information to other financial backers too, viz., angel investors, banks, non-banking financial institutions and other individual and syndicated set-ups providing funding to start-ups.

The current research is unique as no prior study has explored the determinants of VCs exit strategy and prioritizing these determinants.

Metro stations have become a crucial aspect of urban rail transportation, integrating facilities, equipment and pedestrians. Impractical physical layout designs and pedestrian psychology impact the effectiveness of an evacuation during a metro fire. Prior research on emergency evacuation has overlooked the complexity of metro stations and failed to adequately consider the physical heterogeneity of stations and pedestrian psychology. Therefore, this study aims to develop a comprehensive evacuation optimization strategy for metro stations by applying the concept of design for safety (DFS) to an emergency evacuation. This approach offers novel insights into the management of complex systems in metro stations during emergencies.

Physical and social factors affecting evacuations are identified. Moreover, the social force model (SFM) is modified by combining the fire dynamics model (FDM) and considering pedestrians' impatience and panic psychology. Based on the Nanjing South Metro Station, a multiagent-based simulation (MABS) model is developed. Finally, based on DFS, optimization strategies for metro stations are suggested.

The most effective evacuation occurs when the width of the stairs is 3 meters and the transfer corridor is 14 meters. Additionally, a luggage disposal area should be set up. The exit strategy of the fewest evacuees is better than the nearest-exit strategy, and the staff in the metro station should guide pedestrians correctly.

Previous studies rarely consider metro stations as sociotechnical systems or apply DFS to proactively reduce evacuation risks. This study provides a new perspective on the evacuation framework of metro stations, which can guide the designers and managers of metro stations.

International business (IB) and strategy research in the context of emerging economies (EEs) has focused traditionally on the strategies of firms in and from those markets to seize opportunities arising from their economic growth. This paper aims to demonstrate that declining industries in EEs are an important but overlooked research context for critical IB scholarship and to illuminate special considerations for strategising under those conditions.

This paper provides an overview of declining industries in EEs and includes an illustration of a sample of such industries in major EEs. This paper then critically reviews research on firms’ strategies in declining industries and extends that critical discussion to the EE context.

Firstly, this paper provides evidence relating to declines in industries in EEs. Secondly, this paper identifies three major strategies that firms use in response to an industry decline and critically discusses those strategies’ manifestations and special considerations in the context of EEs.

Industry decline in EEs and the resultant responses of multi-national enterprises and local firms, such as business exit, market competition and firm diversification strategies, cause significant social challenges. This paper calls for further research on the phenomenon, especially regarding its distinctive ramifications compared with those in the context of developed countries.

This paper contributes to the critical IB scholarship by questioning the assumptions around high economic growth in individual EE industries and by challenging a universalistic approach that applies findings grounded in declining industries in developed countries to the distinctive context of EEs. This paper also provides forward-looking expositions concerning industry decline in EEs.

In this chapter we investigate the role of family-specific factors in facilitating or constraining business exit in family firms. Family business literature seems to have an implicit bias toward continuity and persistence in the founder's business. This is explained by heavy emotional involvement and development of path-dependent core competences over generations. However, several long-lived family firms were able to successfully exit the founder's business. Exit allowed them to free significant strategic resources, which were later reinvested in exploiting novel entrepreneurial opportunities. Our aim is to investigate the process of exit from the founder's business in family firms, to explain both triggers and obstacles to decommitment and de-escalation. We address this issue through the study of the Italian Falck Group's exit from the steel industry in the 1990s, followed by successful startup of a renewable energy business. By carefully triangulating different data sources and different voices within and outside the controlling family, we develop a framework describing family-specific facilitators and inhibitors of business exit, and subsequent startup of a new business. Three types of family-specific factors emerge as relevant in shaping a family firm's likelihood and speed of exit from a failing business: family-related psychological triggers and obstacles to business exit; family-specific components of the structural de-escalation context; family responses to ensuing de-escalation and exit needs. The emerging framework offers a more nuanced interpretation of decommitment activities in family firms, pointing to the differential role family-specific factors may play as facilitators or inhibitors of business exit. We also suggest how these family-specific results may contribute to a deeper understanding of exit in nonfamily firms. Our results also have practical implications for family business entrepreneurial management. Actively managing the different determinants of exit choices that emerged from our study will set the stage for de-escalation from a failing course of action – a dynamic capability all family firms should learn and practice if they intend to transfer their entrepreneurial orientation to next generations.