IDEAS home Printed from https://ideas.repec.org/a/eee/jobuve/v19y2023ics2352673423000021.html
   My bibliography  Save this article

Transitions to entrepreneurship, self-realization, and prolonged working careers: Insights from the English Longitudinal Study of Ageing

Author

Listed:
  • Kautonen, Teemu
  • Halvorsen, Cal
  • Minniti, Maria
  • Kibler, Ewald

Abstract

This article contributes to our understanding of self-realization as a psychological benefit of entrepreneurship and its consequences on entrepreneurs' careers. By utilizing panel data from the English Longitudinal Study of Ageing (2002–2019), the analysis shows that individuals aged 50–67 experience an increase in perceived self-realization after starting a business, and this increase mediates the positive effect of transitioning to entrepreneurship on the individuals’ desire to postpone retirement. However, contrary to the dominant view in the literature, the self-realization effect of transitioning to entrepreneurship is short-lived: the perceived level of self-realization returns to the pre-start-up level within four years.

Suggested Citation

  • Kautonen, Teemu & Halvorsen, Cal & Minniti, Maria & Kibler, Ewald, 2023. "Transitions to entrepreneurship, self-realization, and prolonged working careers: Insights from the English Longitudinal Study of Ageing," Journal of Business Venturing Insights, Elsevier, vol. 19(C).
    • Handle: RePEc:eee:jobuve:v:19:y:2023:i:c:s2352673423000021
    DOI: 10.1016/j.jbvi.2023.e00373
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S2352673423000021
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jbvi.2023.e00373?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Shir, Nadav & Nikolaev, Boris N. & Wincent, Joakim, 2019. "Entrepreneurship and well-being: The role of psychological autonomy, competence, and relatedness," Journal of Business Venturing, Elsevier, vol. 34(5), pages 1-1.
    2. Jörn H. Block & Andreas Landgraf, 2016. "Transition from part-time entrepreneurship to full-time entrepreneurship: the role of financial and non-financial motives," International Entrepreneurship and Management Journal, Springer, vol. 12(1), pages 259-282, March.
    3. Carter, Nancy M. & Gartner, William B. & Shaver, Kelly G. & Gatewood, Elizabeth J., 2003. "The career reasons of nascent entrepreneurs," Journal of Business Venturing, Elsevier, vol. 18(1), pages 13-39, January.
    4. Gavin Cassar, 2007. "Money, money, money? A longitudinal investigation of entrepreneur career reasons, growth preferences and achieved growth," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 19(1), pages 89-107, January.
    5. Cal J Halvorsen & Yu-Chih Chen, 2019. "The diversity of interest in later-life entrepreneurship: Results from a nationally representative survey of Americans aged 50 to 70," PLOS ONE, Public Library of Science, vol. 14(6), pages 1-21, June.
    6. Thomas Wainwright & Ewald Kibler & Teemu Kautonen & Robert Blackburn, 2015. "One Size Does Not Fit All: Uncovering Older Entrepreneur Diversity through Motivations, Emotions and Mentoring Needs," Palgrave Macmillan Books, in: Natalie Sappleton & Fernando Lourenço (ed.), Entrepreneurship, Self-Employment and Retirement, chapter 2, pages 42-66, Palgrave Macmillan.
    7. R. Wiggins & G. Netuveli & M. Hyde & P. Higgs & D. Blane, 2008. "The Evaluation of a Self-enumerated Scale of Quality of Life (CASP-19) in the Context of Research on Ageing: A Combination of Exploratory and Confirmatory Approaches," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 89(1), pages 61-77, October.
    8. Parker,Simon C., 2018. "The Economics of Entrepreneurship," Cambridge Books, Cambridge University Press, number 9781316621714, September.
    9. Wiklund, Johan & Nikolaev, Boris & Shir, Nadav & Foo, Maw-Der & Bradley, Steve, 2019. "Entrepreneurship and well-being: Past, present, and future," Journal of Business Venturing, Elsevier, vol. 34(4), pages 579-588.
    10. Ryff, Carol D., 2019. "Entrepreneurship and eudaimonic well-being: Five venues for new science," Journal of Business Venturing, Elsevier, vol. 34(4), pages 646-663.
    11. Blanchflower, David G. & Oswald, Andrew & Stutzer, Alois, 2001. "Latent entrepreneurship across nations," European Economic Review, Elsevier, vol. 45(4-6), pages 680-691, May.
    12. Aracely Soto-Simeone & Teemu Kautonen, 2021. "Senior entrepreneurship following unemployment: a social identity theory perspective," Review of Managerial Science, Springer, vol. 15(6), pages 1683-1706, August.
    13. Zissimopoulos, Julie M. & Karoly, Lynn A., 2007. "Transitions to self-employment at older ages: The role of wealth, health, health insurance and other factors," Labour Economics, Elsevier, vol. 14(2), pages 269-295, April.
    14. Levesque, Moren & Minniti, Maria, 2006. "The effect of aging on entrepreneurial behavior," Journal of Business Venturing, Elsevier, vol. 21(2), pages 177-194, March.
    15. Stephan, Ute & Tavares, Susana M. & Carvalho, Helena & Ramalho, Joaquim J.S. & Santos, Susana C. & van Veldhoven, Marc, 2020. "Self-employment and eudaimonic well-being: Energized by meaning, enabled by societal legitimacy," Journal of Business Venturing, Elsevier, vol. 35(6).
    16. Thomas Wainwright & Ewald Kibler, 2014. "Beyond financialization: older entrepreneurship and retirement planning," Journal of Economic Geography, Oxford University Press, vol. 14(4), pages 849-864.
    17. Ma, Hao & Tan, Justin, 2006. "Key components and implications of entrepreneurship: A 4-P framework," Journal of Business Venturing, Elsevier, vol. 21(5), pages 704-725, September.
    18. Liu, Lulu & Zhang, Yuting, 2018. "Does non-employment based health insurance promote entrepreneurship? Evidence from a policy experiment in China," Journal of Comparative Economics, Elsevier, vol. 46(1), pages 270-283.
    19. Kautonen, Teemu & Kibler, Ewald & Minniti, Maria, 2017. "Late-career entrepreneurship, income and quality of life," Journal of Business Venturing, Elsevier, vol. 32(3), pages 318-333.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Christopher J. Boudreaux & Niklas Elert & Magnus Henrekson & David S. Lucas, 2022. "Entrepreneurial accessibility, eudaimonic well-being, and inequality," Small Business Economics, Springer, vol. 59(3), pages 1061-1079, October.
    2. Boris N. Nikolaev & Michael P. Lerman & Christopher J. Boudreaux & Brandon A. Mueller, 2023. "Self-Employment and Eudaimonic Well-Being: The Mediating Role of Problem- and Emotion-Focused Coping," Entrepreneurship Theory and Practice, , vol. 47(6), pages 2121-2154, November.
    3. Milena Nikolova & Boris Nikolaev & Christopher Boudreaux, 2023. "Being your own boss and bossing others: the moderating effect of managing others on work meaning and autonomy for the self-employed and employees," Small Business Economics, Springer, vol. 60(2), pages 463-483, February.
    4. Inessa Love & Boris Nikolaev & Chandra Dhakal, 2024. "The well-being of women entrepreneurs: the role of gender inequality and gender roles," Small Business Economics, Springer, vol. 62(1), pages 325-352, January.
    5. Xiaoyu Yu & Xiaotong Meng & Laura Stanley & Franz W. Kellermanns, 2024. "Self-employment and life satisfaction: The contingent role of formal institutions," Small Business Economics, Springer, vol. 63(1), pages 135-163, June.
    6. Dimov, Dimo & Pistrui, Joseph, 2024. "Dynamics of entrepreneurial well-being: Insights from computational theory," Journal of Business Research, Elsevier, vol. 172(C).
    7. Ute Stephan & Przemysław Zbierowski & Ana Pérez-Luño & Dominika Wach & Johan Wiklund & Marisleidy Alba Cabañas & Edgard Barki & Alexandre Benzari & Claudia Bernhard-Oettel & Janet A. Boekhorst & A, 2023. "Act or Wait-and-See? Adversity, Agility, and Entrepreneur Wellbeing across Countries during the COVID-19 Pandemic," Entrepreneurship Theory and Practice, , vol. 47(3), pages 682-723, May.
    8. Kautonen, Teemu & Kibler, Ewald & Minniti, Maria, 2017. "Late-career entrepreneurship, income and quality of life," Journal of Business Venturing, Elsevier, vol. 32(3), pages 318-333.
    9. Tesfaye Leta Tufa, 2021. "The effect of entrepreneurial intention and autonomy on self-employment: does technical and vocational educations and training institutions support matters?," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 11(1), pages 551-561, December.
    10. Barkema, Harry G. & Bindl, Uta & Tanveer, Lamees, 2024. "How entrepreneurs achieve purpose beyond profit: the case of women entrepreneurs in Nigeria," LSE Research Online Documents on Economics 119716, London School of Economics and Political Science, LSE Library.
    11. Aishwarya Kakatkar & Holger Patzelt & Nicola Breugst, 2024. "Towards a Dynamic Model of Entrepreneurial Energy," Entrepreneurship Theory and Practice, , vol. 48(4), pages 1037-1081, July.
    12. Murmann, Martin & Salmivaara, Virva & Kibler, Ewald, 2023. "How does late-career entrepreneurship relate to innovation?," Research Policy, Elsevier, vol. 52(6).
    13. Nicholas Litsardopoulos & George Saridakis & Yannis Georgellis & Chris Hand, 2023. "Self-employment experience effects on well-being: A longitudinal study," Economic and Industrial Democracy, Department of Economic History, Uppsala University, Sweden, vol. 44(2), pages 454-480, May.
    14. Holger Patzelt & Dean A. Shepherd, 2024. "A fatigue model of social venturing," Small Business Economics, Springer, vol. 63(3), pages 1065-1088, October.
    15. Gish, J. Jeffrey & Guedes, Maria João & Silva, Bárbara G. & Patel, Pankaj C., 2022. "Latent profiles of personality, temperament, and eudaimonic well-being: Comparing life satisfaction and health outcomes among entrepreneurs and employees," Journal of Business Venturing Insights, Elsevier, vol. 17(C).
    16. Yuji Honjo & Kenta Ikeuchi & Hiroki Nakamura, 2022. "The Mediating Effect of Financial Motives in the Association between Entrepreneurial Experience and Subjective Well-Being: Evidence from Japan," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 17(2), pages 1043-1067, April.
    17. Amorós, José Ernesto & Cristi, Oscar & Naudé, Wim, 2021. "Entrepreneurship and subjective well-being: Does the motivation to start-up a firm matter?," Journal of Business Research, Elsevier, vol. 127(C), pages 389-398.
    18. Thorgren, Sara & Williams, Trenton Alma, 2023. "Progress without a venture? Individual benefits of post-disruption entrepreneuring," Journal of Business Venturing, Elsevier, vol. 38(3).
    19. Ute Stephan & Andreas Rauch & Isabella Hatak, 2023. "Happy Entrepreneurs? Everywhere? A Meta-Analysis of Entrepreneurship and Wellbeing," Entrepreneurship Theory and Practice, , vol. 47(2), pages 553-593, March.
    20. Manchiraju, Srikant, 2020. "Psychometric evaluation of the Ryff’s Scale of psychological wellbeing in self-identified American entrepreneurs," Journal of Business Venturing Insights, Elsevier, vol. 14(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jobuve:v:19:y:2023:i:c:s2352673423000021. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/journal-of-business-venturing-insights .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.