This analysis demonstrates the relevance and robustness of the Theory of Planned Behavior in the prediction of business start-up intentions and subsequent behavior based on longitudinal survey data (2011 and 2012; N=969) from the adult population in Austria and Finland. By doing so, the study addresses two weaknesses in current research: the limited scope of samples used in the majority of prior studies and the scarcity of investigations studying the translation of entrepreneurial intentions into behavior. The article discusses conceptual and methodological issues related to studying the intention-behavior relationship and outlines avenues for future research.2

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Age, Aging, Social norm, Entrepreneurial intention, Entrepreneurial environment, Third age, J14, M13, L26,

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Previous research on age and entrepreneurship assumed homogeneity and downplayed age-related differences in the motives and aims underlying enterprising behaviour. We argue that the heterogeneity of entrepreneurship influences how the level of entrepreneurial activity varies with age. Using a sample of 2566 respondents from 27European countries we show that entrepreneurial activity increases almost linearly with age for individuals who prefer to only employ themselves (self-employers), whereas it increases up to a critical threshold age (late 40s) and decreases thereafter for those who aspire to hire workers (owner-managers). Age has a considerably smaller effect on entrepreneurial behaviour for those who do not prefer self-employment but are pushed into it by lack of alternative employment opportunities (reluctant entrepreneurs). Our results question the conventional wisdom that entrepreneurial activity declines with age and suggest that effective 2 responses to demographic changes require policy makers to pay close attention to the heterogeneity of entrepreneurial preferences.

This exploratory study investigates the relationship between an individual's socialization into different professional and organizational cultures and their subsequent entrepreneurial intentions. Using age cohorts as a proxy for the duration of work-related socialization processes and changes in the business environment over time, the study proposes that the impact of work history is stronger in 'third age' (50-64 years) than in 'prime age' (20-49 years). The principal finding is that older individuals, those aged 50-plus, who have spent the majority of their career in 'blue-collar' industrial work are less inclined towards entrepreneurship than the working-age population in Western Finland generally. One reason is the perceived lack of support from important social contacts. Contrary to expectations, a work history in the public sector or small businesses does not seem to affect subsequent entrepreneurial intentions. Further research is required to provide a more fine-grained understanding of the impact of work history on entrepreneurial intentions.

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