Hannes Leroy is Visiting Assistant Professor at Cornelly University and University of Leuven.
Understanding the Continuation of Firm Activities when Entrepreneurs Exit their Firms: Using Theory of Planned Behavior
Article first published online: 25 OCT 2013
© 2013 International Council for Small Business
Journal of Small Business Management
Volume 53, Issue 2, pages 400–415, April 2015
How to Cite
Leroy, H., Manigart, S., Meuleman, M. and Collewaert, V. (2015), Understanding the Continuation of Firm Activities when Entrepreneurs Exit their Firms: Using Theory of Planned Behavior. Journal of Small Business Management, 53: 400–415. doi: 10.1111/jsbm.12077
- Issue published online: 13 MAR 2015
- Article first published online: 25 OCT 2013
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.