Understanding the Continuation of Firm Activities When Entrepreneurs Exit Their Firms: Using Theory of Planned Behavior

16 Pages Posted: 16 Mar 2015

See all articles by Hannes Luc Leroy

Hannes Luc Leroy

KU Leuven

Sophie Manigart

Vlerick Business School; Ghent University

Miguel Meuleman

Vlerick Business School; University of Nottingham

Veroniek Collewaert

Maastricht Centre for Entrepreneurship; Ghent University

Date Written: April 2015

Abstract

Up to now, little attention has been paid to the continuity of a firm when entrepreneurs exit. Survey data from 175 entrepreneurs confirm the theory of planned behavior as an appropriate framework to understand whether entrepreneurs, when leaving, sell or liquidate their firm. Entrepreneurs' sale attitudes are related to sale intentions, which are associated with firm sale. Further, sale attitudes are positively related to whether entrepreneurs perceive firm continuation to be out of free will, their experience, the number of employees, and whether the firm is a multigeneration family business.

Suggested Citation

Leroy, Hannes Luc and Manigart, Sophie and Meuleman, Miguel and Collewaert, Veroniek, Understanding the Continuation of Firm Activities When Entrepreneurs Exit Their Firms: Using Theory of Planned Behavior (April 2015). Journal of Small Business Management, Vol. 53, Issue 2, pp. 400-415, 2015. Available at SSRN: https://ssrn.com/abstract=2578133 or http://dx.doi.org/10.1111/jsbm.12077

Hannes Luc Leroy (Contact Author)

KU Leuven ( email )

Oude Markt 13
Leuven, Vlaams-Brabant 3000
Belgium

Sophie Manigart

Vlerick Business School ( email )

Reep 1
Ghent, BE-9000
Belgium

Ghent University ( email )

Sint-Pietersplein 7
Gent, 9000
Belgium

Miguel Meuleman

Vlerick Business School ( email )

Reep 1
Gent, 9000
Belgium
0032(0)92109770 (Phone)
0032(0)92109790 (Fax)

University of Nottingham

University Park
Nottingham, NG8 1BB
United Kingdom

Veroniek Collewaert

Maastricht Centre for Entrepreneurship ( email )

Tongersestraat 49
PO Box 616
Maastricht, MD 6200
Netherlands
+31 43 38 84623 (Phone)
+31 43 38 84970 (Fax)

Ghent University ( email )

Kuiperskaai 55E
Gent, 9000
Belgium

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