Unraveling the Perceived Reasons Underlying Entrepreneurs' Retirement Decisions: A Person-Centered Perspective

Chevalier, Séverine; Fouquereau, Evelyne; Gillet, Nicolas; Bosselut, Grégoire

doi:10.1111/jsbm.12312

Cited by 14 publications

(19 citation statements)

References 74 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Not all founder exits are alike. Indeed, scholars have classified founder exits as financial harvest strategies (e.g., initial public offering or sale), stewardship strategies (e.g., transfer or sale to family or employees), and voluntary cessation strategies (e.g., liquidation or retirement; Chevalier, Fouquereau, Gillet, & Bosselut, ; DeTienne et al, ; Wennberg et al, ). Reports such as the one published annually by the Global Entrepreneurship Monitor highlight how across the world, founders cite a wide spectrum of reasons for exit.…”

Section: Entrepreneurial Motivation and Venture Exitmentioning

confidence: 99%

“…Interestingly, the primary motivation to sell, as opposed to shut down, is the identity fit between the family and the venture—the greater the alignment between the identity of the family and the venture, the more likely operations will be shut down instead of sold to an outsider (see also Moen et al, ). Motivations to retire represent one specific avenue of exiting a venture (GERA, ), and several different intrinsic motives drive founders' intentions to retire from their organizations (Chevalier et al, ; Chevalier, Fouquereau, Gillet, & Demulier, ).…”

Section: Entrepreneurial Motivation and Venture Exitmentioning

confidence: 99%

See 1 more Smart Citation

Entrepreneurial motivation: A review of the literature and an agenda for future research

Murnieks

Klotz

Shepherd³

2019

J Organ Behavior

207

164

View full text Add to dashboard Cite

Summary Given the substantial impact that new ventures have on the global economy, understanding what motivates entrepreneurs is of both practical and theoretical importance. Although research on the nature, causes, and consequences of entrepreneurial motivation has grown rapidly, it has evolved in distinct theoretical silos that tend to isolate motives based on the phase of business development (e.g., initiation, growth, and exit) rather than acknowledge that individuals often traverse all these phases and experience multiple types of motivation throughout their entrepreneurial journey. To advance the study of motivation in the fields of entrepreneurship and organizational behavior and provide a means through which these advancements can contribute to our understanding of how motivation drives the start‐up, growth, and exiting of businesses, we organize and review the extant literature on entrepreneurial motives based on the phases of the new venture process. In doing so, this article develops a roadmap of the current state of entrepreneurial motivation research and its nomological network and provides suggestions to guide future research in extending our understanding of motivation in the entrepreneurship domain as well as in traditional organizational settings.

show abstract

Section: Entrepreneurial Motivation and Venture Exitmentioning

confidence: 99%

Section: Entrepreneurial Motivation and Venture Exitmentioning

confidence: 99%

Entrepreneurial motivation: A review of the literature and an agenda for future research

Murnieks

Klotz

Shepherd³

2019

J Organ Behavior

207

164

View full text Add to dashboard Cite

show abstract

“…In sum, the six indicators chosen to represent well-being of the self-employed may form various well-being profiles. This study is the first that uses person-centered approach to describe well-being among the self-employed, and one of the few that applied this methodology to study well-being in other populations (Bhullar et al 2014;Chevalier et al 2018;Heilala et al 2014). Thus, we do not make any assumptions about which profiles of wellbeing among self-employed exist and at which prevalence.…”

Section: Identifying the Well-being Profilesmentioning

confidence: 99%

Not All Are Equal: A Latent Profile Analysis of Well-Being Among the Self-Employed

2019

View full text Add to dashboard Cite

This study uses a person-centered approach to distinguish between subpopulations of selfemployed individuals using multidimensional well-being indicators. Data were obtained from European Social Survey including a sample of 3461 self-employed individuals from 29 European countries. The analysis has empirically identified six distinct profiles named 'unhappy', 'languishing', 'happy', 'satisfied', 'passionate', and 'flourishing'. The profiles were associated with significant differences in well-being, health and work-related variables. The results highlight the heterogeneity of the self-employed population, and describe the complex-both hedonic and eudaimonic-character of the well-being concept in this population. Keywords Well-being • Self-employment • Person-centered • Latent profile analysis Thus far, little attention has been given to the heterogeneity among the self-employed in terms of their well-being. In general, the self-employed report high levels of well-being (Baron et al. 2016; Stephan and Roesler 2010; Uy et al. 2013). However, the positive relationship between self-employment and well-being may be limited to the rich (Alesina et al. 2001), to the younger and highly educated (Rietveld et al. 2015), to those who became self-employed out of opportunity rather than necessity (van der Zwan et al. 2016), to selfemployed with employees and to immigrant self-employed (Johansson Sevä et al. 2016).

show abstract

“…, 1998). For the later stage business owner, exit is retirement (Chavalier et al. , 2018), and it will likely be their first and only business exit (NFIB, 2005).…”

Section: Introductionmentioning

confidence: 99%

Main street business owners: aging in plain sight

Forster-Holt

2022

JSBED

View full text Add to dashboard Cite

PurposeAging is the most important social-demographic issue worldwide, supported by the initiatives of the World Health Organization (WHO) in its global strategy and action plan for aging and health (Rudnicka et al., 2020). The average age of business owners in most industrialized countries is on the rise. In the United States, fifty-one percent of small private businesses are owned by someone age fifty-plus (SBA Office of Advocacy, 2018).Design/methodology/approachThe authors shed light on small business owners, who age in place. The authors suggest that their importance as long-term actors in entrepreneurial ecosystems nor the issue of “Main Street churn” have not been meaningfully explored. They become embedded in their community and possibly stuck there in retirement. Understanding the risks they face offers an opportunity for academics and practitioners to provide insights for business owners, the next generation of the acquirer and advisors. The coronavirus disease 2019 (COVID-19) pandemic has elevated the status of many of these businesses from invisible (and perhaps taken for granted) to “essential” and amplified the co-dependence of business and the local economy.Findings The anticipated “silver tsunami” caused by the retirements of Main Street business owners is not a national and homogeneous wave. Rather, each wave will land on beaches locally. Small business owners age in place, and their importance as long-term actors in entrepreneurial ecosystems nor the issue of “Main Street churn” have not been meaningfully explored. They become embedded in their community and possibly stuck there in retirement.Originality/value The embeddedness of these owners – who likely have social connections, community identification and feelings of responsibility to the community directly impacts the places that they care deeply about – is often unquestioned. However, their retirements call for increased visibility within entrepreneurial ecosystems and translations of scholarly work from several kinds of literature into policy and practice.

show abstract

Unraveling the Perceived Reasons Underlying Entrepreneurs' Retirement Decisions: A Person-Centered Perspective

Cited by 14 publications

References 74 publications

Entrepreneurial motivation: A review of the literature and an agenda for future research

Entrepreneurial motivation: A review of the literature and an agenda for future research

Not All Are Equal: A Latent Profile Analysis of Well-Being Among the Self-Employed

Main street business owners: aging in plain sight

Contact Info

Product

Resources

About