THE PLANNED DECISION TO TRANSFER AN ENTREPRENEURIAL COMPANY

H. Leroy, Sophie Manigart and Miguel Meuleman

Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium from Ghent University, Faculty of Economics and Business Administration

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)
New Economics Papers: this item is included in nep-ent and nep-sbm
Date: 2009-04
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Related works:
Working Paper: The planned decision to transfer an entrepreneurial company (2009)
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Persistent link: http://EconPapers.repec.org/RePEc:rug:rugwps:09/577

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