Making sense of entrepreneurial exit strategies: : A typology and test

• Autores: Dawn R. DeTienne, Alexander McKelvie, Gaylen N. Chandler
• Localización: Journal of Business Venturing, ISSN-e 1873-2003, Vol. 30, Nº. 2, 2015, págs. 255-272
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • Entrepreneurial exit is a major event in the development of a venture. However, we have little understanding of the factors that drive the development of an important pre-cursor to exit: the exit strategy of the founder. Based on the existing literature, we develop a typology of entrepreneurial exit strategies consisting of three higher-level exit categories (i.e., financial harvest, stewardship, and voluntary cessation) and develop an initial test of our typology. Specifically, we examine entrepreneurs' perceived innovativeness of their opportunity, motivational considerations, decision-making approach, founding team, and firm size. Our results show different predictors for each of the three exit strategy types and represent a significant contribution to the understanding of exit strategies in new ventures.