Edited by Dawn R. DeTienne and Karl Wennberg
Chapter 10: Social ventures: exploring entrepreneurial exit strategies with a structuration lens
The concept of entrepreneurial exits has only recently developed as a stream of research in the entrepreneurship literature. For example, Shane and Venkataraman (2000) describe the entrepreneurial process as the discovery, evaluation and exploitation of opportunities, but do not mention exits in their highly influential framework. More recent work has begun to explore the idea of entrepreneurs exiting the businesses they created to exploit the opportunities that Shane and Venkataraman’s (2000) framework described. Entrepreneurial exits are defined as ‘the process by which the founders of privately held firms leave the firm they helped to create; thereby removing themselves, in varying degree, from the primary ownership and decision-making structure of the firm’ (DeTienne, 2010: 204). Research on entrepreneurial exits has generally revolved around the following ideas: poor performance leading to exits (for example, Balcaen et al., 2012), strong performance leading to exits (for example, Wennberg et al., 2010), entrepreneurial harvests (for example, Brau et al., 2010), and entrepreneurial successions (for example, Salvato et al., 2010).
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