Abstract

Business failure is common. However, there is a tendency in the literature to focus much more on entrepreneurial success and to avoid failure as a deserving research topic (McGrath, 1999). Furthermore, while much attention is devoted to studying market-entry decisions, very little is known about market-exit decisions (Khavul et al., 2009). To the extent that such “exit” research exists, studies have primarily focused on economic barriers and strategic factors (Covin & Slevin, 1990).

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