Much of the research on entrepreneurial exit has focused upon exit as a dichotomous outcome whereby exit is viewed negatively and survival, positively. This perspective is quite different from that of practicing entrepreneurs, who are more likely to be concerned with various types of exits,...

We theorize that both highly rational entrepreneurs and entrepreneurs with a high need for cognitive closure (NFCC) are likely to put more emphasis on retrospective factors (period and degree of underperformance, personal investments) and less on prospective factors (risk of going into default,...

We outline and test a decision-making theory of new venture growth and survival. Building upon research in entrepreneurship and decision making under risk, we hypothesize that entrepreneurs' attention to survival and aspiration reference points changes based on venture age (experience-based...