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The planned decision to transfer an entrepreneurial company
Leroy, Hannes Manigart, Sophie Meuleman, Miguel
Leroy, Hannes
Manigart, Sophie
Meuleman, Miguel
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Publication Type
Working paper
Editor
Supervisor
Publication Year
2009
Journal
Book
Publication Volume
Publication Issue
13
Publication Begin page
Publication End page
Publication Number of pages
29
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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.
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Keywords
Entrepreneurship, Entrepreneurial Exit, Exit Process, Transfer Decision, Theory of Planned Behavior