Retirement of entrepreneurs: Implications for entrepreneurial exit

Michael H. Morris, Sohrab Soleimanof and Rebecca J. White

Journal of Small Business Management, 2020, vol. 58, issue 6, 1089-1120

Abstract: Retirement of a large portion of the workforce and, particularly, entrepreneurs is a contemporary trend in developed countries. Despite substantial economic and social consequences of entrepreneurs’ retirement, it has received limited scholarly attention. Using a mixed method approach, we shed light on how entrepreneurs approach retirement and the implications for exit strategy. Our findings suggest retirement is a voluntary decision over which entrepreneurs have considerable control, increasing their proclivity toward partial retirement at a later than normal age. Entrepreneurial identity plays a role in shaping approaches to retirement. Retirement intention influences preferences toward particular exit strategies and associated preparation efforts.

Date: 2020
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DOI: 10.1111/jsbm.12476

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