What Do We Really Mean When We Talk About ‘Exit’? - A Critical Review of Research on Entrepreneurial Exit

International Small Business Journal, Forthcoming

21 Pages Posted: 3 Jan 2014

See all articles by Karl Wennberg

Karl Wennberg

Linkoping University - Institute for Analytical Sociology (IAS)

Dawn R. DeTienne

Colorado State University, Fort Collins - College of Business; Utah State University

Date Written: January 2, 2014

Abstract

Much of the research on entrepreneurial exit has focused upon exit as a dichotomous outcome whereby exit is viewed negatively and survival, positively. This perspective is quite different from that of practicing entrepreneurs, who are more likely to be concerned with various types of exits, viewing some options as the ultimate fulfillment of the new venture process. Further, research on exit frequently fails to account for performance (e.g. earnings from self-employment or firm level profitability) in empirical models, even though performance is arguably the critical component of determining whether an exit is successful or unsuccessful. In this review article we delve into these issues — founder exit intentions, strategies for executing the exit, the process of exit, and the importance of controlling for, or including, performance measures in academic research — thereby outlining an agenda for future research regarding entrepreneurial exit.

Keywords: Entrepreneurial Exit, Failure, Closure, Review

JEL Classification: M13, L26

Suggested Citation

Wennberg, Karl and DeTienne, Dawn R., What Do We Really Mean When We Talk About ‘Exit’? - A Critical Review of Research on Entrepreneurial Exit (January 2, 2014). International Small Business Journal, Forthcoming. Available at SSRN: https://ssrn.com/abstract=2373948

Karl Wennberg (Contact Author)

Linkoping University - Institute for Analytical Sociology (IAS) ( email )

Norrköping, 601 74
Sweden

Dawn R. DeTienne

Colorado State University, Fort Collins - College of Business ( email )

Fort Collins, CO 80523
United States

Utah State University

Logan, UT 84322
United States

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