Exit decision for social venturing entrepreneurs: A conjoint-based study

IF 1.2 Q4 MANAGEMENT

Africa Journal of Management Pub Date : 2023-04-03 DOI:10.1080/23322373.2023.2187686

A. T. K. Nuer, Gert van Dijk, H. V. van Trijp

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Abstract

ABSTRACT In this paper, we seek to study four options of exit decisions and strategies for Social Venture Entrepreneurs. Due to the small number of practicing Social Venture Investors and Entrepreneurs currently using the Social Venture Entrepreneurship model, data were collected from a heterogeneous group of founders and managers of social ventures across the Netherlands, sub-Saharan Africa, the United States and Asia. The study relies on a conjoint experiment on exit scenarios in which respondents were asked to decide on exit decisions they regarded as preferred or most probable under various conditions. Results from the descriptive analysis show that the founders are highly unlikely to exit. In the event of exit, Mergers and Acquisition (M&A) and Management Buy-out (MBO)/Internal Succession (IS) are the most preferred and probable exit routes that these founders are likely to take. Results from the conjoint analysis indicate that social impact is the most important factor in the decision of the founder of social ventures to exit. This study contributes to the broadening of our understanding on which exit decision models and strategies are likely to hold and become sustainable for practicing Social Venture Entrepreneurs.

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社会风险企业家退出决策:基于联合的研究

摘要在本文中，我们试图研究社会风险企业家的四种退出决策选择和策略。由于目前使用社会风险创业模式的实践社会风险投资者和企业家数量较少，数据是从荷兰、撒哈拉以南非洲、美国和亚洲的社会风险创始人和管理者的异质群体中收集的。这项研究依赖于一项关于退出场景的联合实验，在该实验中，受访者被要求决定他们认为在各种条件下首选或最有可能的退出决定。描述性分析的结果表明，创始人极不可能退出。在退出的情况下，并购（M&A）和管理层收购（MBO）/内部继任（IS）是这些创始人可能采取的最优选和最可能的退出途径。联合分析的结果表明，社会影响是决定社会企业创始人退出的最重要因素。这项研究有助于拓宽我们对哪些退出决策模型和策略可能适用于实践社会风险企业家并变得可持续的理解。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Africa Journal of Management Business, Management and Accounting-Business and International Management

CiteScore

2.80

自引率

15.40%

发文量

期刊介绍： The beginning of the Twenty First Century has witnessed Africa’s rise and progress as one of the fastest growing and most promising regions of the world. At the same time, serious challenges remain. To sustain and speed up momentum, avoid reversal, and deal effectively with emerging challenges and opportunities, Africa needs better management scholarship, education and practice. The purpose of the Africa Journal of Management (AJOM) is to advance management theory, research, education, practice and service in Africa by promoting the production and dissemination of high quality and relevant manuscripts. AJOM is committed to publishing original, rigorous, scholarly empirical and theoretical research papers, which demonstrate clear understanding of the management literature and draw on Africa’s local indigenous knowledge, wisdom and current realities. As the first scholarly journal of the Africa Academy of Management (AFAM), AJOM gives voice to all those who are committed to advancing management scholarship, education and practice in or about Africa, for the benefit of all of Africa. AJOM welcomes manuscripts that develop, test, replicate or validate management theories, tools and methods with Africa as the starting point. The journal is open to a wide range of quality, evidence-based methodological approaches and methods that “link” “Western” management theories with Africa’s indigenous knowledge systems, methods and practice. We are particularly interested in manuscripts which address Africa’s most important development needs, challenges and opportunities as well as the big management questions of the day. We are interested in research papers which address issues of ethical conduct in different African settings.