University of St.Gallen
research platform alexandria
search publications
browse publications
per persona
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
 
per anno

The Role of Information Asymmetry in the Choice of Entrepreneurial Exit Routes

versione breve Our quantitative study investigates the determinants of internal versus external exit routes in family firms. Building on information asymmetry theory, we examine how an owner’s inferior knowledge about the abilities of potential external entrants (in contrast to family internal successors) renders a family internal transfer more likely. This information asymmetry, however, can be mitigated by activities such as owners’ screening and transfer candidates’ signaling efforts to reveal the candidates’ abilities. Our data exhibits a positive effect of signaling and an inverted U-shaped effect of screening on the probability of external exit routes. Firm age, as a driver of emotional attachment, weakens these effects.
   
tipo Journal paper
   
parole chiave Entrepreneurial exit, exit routes, succession, information asymmetry, firm age, emotional attachment
   
progetto Unternehmensnachfolge
lingua English
kind of paper journal article
data di apparenza 8-11-2012
giornale Journal of Business Venturing
Editore Elsevier Science Publishers (New York)
ISSN 0883-9026
ISSN (online) 1873-2003
DOI 10.1016/j.jbusvent.2012.10.001
edizione del giornale 2014
numero del giornale 29
pagine 193-209
review double-blind review
   
citation Dehlen, T., Zellweger, T., Kammerlander, N., & Halter, F. (2012). The Role of Information Asymmetry in the Choice of Entrepreneurial Exit Routes. Journal of Business Venturing, 2014(29), 193-209, DOI:10.1016/j.jbusvent.2012.10.001.