A4 Article in conference proceedings
Older entrepreneurs’ retirement goal clarity and anticipated exit strategies (2021)

Salminen, H., & von Bonsdorff, M. (2021). Older entrepreneurs’ retirement goal clarity and anticipated exit strategies. In EURAM 2021 : Reshaping capitalism for a sustainable world. European Academy of Management. EURAM conference.

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Publication details

All authors or editorsSalminen, Hanna; von Bonsdorff, Monika

Parent publicationEURAM 2021 : Reshaping capitalism for a sustainable world

Place and date of conferenceOnline (Montreal, Canada)16.-18.6.2021


Journal or seriesEURAM conference


Publication year2021

PublisherEuropean Academy of Management

Publication countryBelgium

Publication languageEnglish

Publication open accessNot open

Publication channel open access


Studies on older entrepreneurs have mainly paid attention to starting an entrepreneurial career at old age and less is known about the retirement and exit process of older entrepreneurs. Drawing on the retirement and exit theories, this study examines older entrepreneurs’ retirement goal clarity and exit strategies. The quantitative survey data has been collected among retiring Finnish small-business owners from different sectors (N = 198). The data was analyzed by using cross tabulations, mean comparisons as well as correlation and regression analyses. The results demonstrate that general satisfaction and feelings of gains in retirement were positively associated with older entrepreneurs’ retirement goal clarity. Interestingly, age was negative related to retirement goal clarity. Approximately half of the respondents were planning to sale their company, more than one third were planning family succession and every tenth closing their company. Family business and number of employees were related to the anticipated exit strategies, but no statistically significant association was found between retirement goal clarity and exit strategies.

Keywordsentrepreneursentrepreneurshipageingretirement ageretirementpensionsself-employed persons' pensionsemployment pensionsenterprisessmall enterprisesobjectivesstrategies

Free keywordsentrepreneurs; retirement goal clarity; exit strategy; small-business; Finland

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Last updated on 2024-03-04 at 21:45