The planned decision to transfer an entrepreneurial company

H. Leroy, Sophie Manigart and Miguel Meuleman

Vlerick Leuven Gent Management School Working Paper Series from 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.

Keywords: entrepreneurial exit; exit process; transfer decision; Theory of Planned Behavior (search for similar items in EconPapers)
Pages: 29 pages
Date: 2009-05-18
New Economics Papers: this item is included in nep-bec and nep-ent
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Working Paper: THE PLANNED DECISION TO TRANSFER AN ENTREPRENEURIAL COMPANY (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:vlg:vlgwps:2009-13

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