Abstract
Although entrepreneurial exit can be regarded as a career choice, we lack an in-depth understanding of the psychological mechanism driving entrepreneurs to have this intention. Based on the integration of person-environment fit theory and conservation of resources theory, we illustrated a moderated mediation model to explore how misfit between entrepreneurs and their entrepreneurship affects entrepreneurs’ intention to exit their current business. We used three-wave data from 287 owner-manager entrepreneurs to test the hypotheses. Our results indicated that person-entrepreneurship misfit was positively related to entrepreneurial burnout, which was in turn associated with entrepreneurial exit intention. Furthermore, we found that the entrepreneurial exit plan strengthened the effect of entrepreneurial burnout on entrepreneurial exit intention and the indirect effect of person-entrepreneurship misfit on entrepreneurial exit intention. This study expands fit/misfit and entrepreneurial exit literature by providing new insight into the psychological mechanism of person-entrepreneurship misfit on entrepreneurial exit intention from the perspective of the conservation of resources.
This is a preview of subscription content, log in via an institution to check access.
Similar content being viewed by others
Data Availability
The datasets generated during and analyzed during the current study are available from the corresponding author on reasonable request.
References
Aiken, L. S., West, S. G., & Reno, R. R. (1991). Multiple regression: Testing and interpreting interactions. Sage. https://doi.org/10.1057/jors.1994.16
Alarcon, G. M. (2011). A meta-analysis of burnout with job demands, resources, and attitudes. Journal of Vocational Behavior, 79(2), 549–562. https://doi.org/10.1016/j.jvb.2011.03.007
Alessandri, G., Perinelli, E., Longis, E. D., Schaufeli, W. B., Theodorou, A., Borgogni, L., Caprara, G. V., & Cinque, L. (2018). Job burnout: The contribution of emotional stability and emotional self-efficacy beliefs. Journal of Occupational and Organizational Psychology, 9(4), 823–851. https://doi.org/10.1111/joop.12225
Balcaen, S., Manigart, S., & Ooghe, H. (2011). From distress to exit: Determinants of the time to exit. Journal of Evolutionary Economics, 21(3), 407–446. https://doi.org/10.1007/s00191-010-0192-2
Barthauer, L., Kaucher, P., Spurk, D., & Kauffeld, S. (2020). Burnout and career (un)sustainability: Looking into the Blackbox of burnout triggered career turnover intentions. Journal of Vocational Behavior, 117(5), 1–15. https://doi.org/10.1016/j.jvb.2019.103334
Baumgartner, H., & Homburg, C. (1996). Applications of structural equation modeling in marketing and consumer research: A review. International Journal of Research in Marketing, 13(2), 139–161. https://doi.org/10.1016/0167-8116(95)00038-0
Bentler, P. M. (1989). EQS structural equations program manual. BMDP Statistical Software.
Boles, J. S., Dean, D. H., Ricks, J. M., Short, J. C., & Wang, G. P. (2000). The dimensionality of the Maslach burnout inventory across small business owners and educators. Journal of Vocational Behavior, 56(1), 12–34. https://doi.org/10.1006/jvbe.1999.1689
Brigham, K. H., De Castro, J. O., & Shepherd, D. A. (2007). A person–organization fit model of owner–managers’ cognitive style and organizational demands. Entrepreneurship Theory & Practice, 31(1), 29–51. https://doi.org/10.1111/j.1540-6520.2007.00162.x
Brinckmann, J., Grichnik, D., & Kapsa, D. (2010). Should entrepreneurs plan or just storm the castle? A meta-analysis on contextual factors impacting the business planning-performance relationship in small firms. Journal of Business Venturing, 25(1), 24–40. https://doi.org/10.1016/j.jbusvent.2008.10.007
Brislin, R. W. (1986). The wording and translation of research instruments. In W. J. Lonner & J. W. Berry (Eds.), Field methods in cross-cultural research (pp. 137–164). Sage.
Browne, M. W., & Cudeck, R. (1993). Alternative ways of assessing model fit. In Testing structural equation models (pp. 136–162). Sage.
Brunel, O., Laviolette, E. M., & Radu-Lefebvre, M. (2017). Role models and entrepreneurial intention: The moderating effects of experience, locus of control and self-esteem. Journal of Enterprising Culture, 25(2), 149–177. https://doi.org/10.1142/s0218495817500066
Cable, D. M., & DeRue, D. S. (2002). The convergent and discriminant validity of subjective fit perceptions. Journal of Applied Psychology, 87(5), 875–884. https://doi.org/10.1037/0021-9010.87.5.875
Cardon, M. S., Foo, M.-D., Shepherd, D., & Wiklund, J. (2012). Exploring the heart: Entrepreneurial emotion is a hot topic. Entrepreneurship Theory & Practice, 36(1), 1–10. https://doi.org/10.1111/j.1540-6520.2011.00501.x
Carlson, M., & Mulaik, S. A. (1993). Trait ratings from descriptions of behavior as mediated by components of meaning. Multivariate Behavioral Research, 28(1), 111–159. https://doi.org/10.1207/s15327906mbr2801_7
Chen, M., Chen, C. C., & Sheldon, O. J. (2016). Relaxing moral reasoning to win: How organizational identification relates to unethical pro-organizational behavior. Journal of Applied Psychology, 101(8), 1082–1096. https://doi.org/10.1037/apl0000111
Cheung, G. W., & Rensvold, R. B. (2002). Evaluating goodness-of-fit indexes for testing measurement invariance. Structural Equation Modeling: A Multidisciplinary Journal, 9(2), 233–255. https://doi.org/10.1207/s15328007sem0902_5
Chi, N., Fang, L., Shen, C., & Fan, H. (2020). Detrimental effects of newcomer person-job misfit on actual turnover and performance: The buffering role of multidimensional person-environment fit. Applied Psychology, 69(4), 1361–1395. https://doi.org/10.1111/apps.12225
Cohen, J. (1988). Statistical power analysis for the behavioral sciences (2nd ed.). Erlbaum.
Cooper-Thomas, H. D., & Wright, S. (2013). Person-environment misfit: The neglected role of social context. Journal of Managerial Psychology, 28(1), 21–37. https://doi.org/10.1108/02683941311298841
De Mol, E., Ho, V. T., & Pollack, J. M. (2018). Predicting entrepreneurial burnout in a moderated mediated model of job fit. Journal of Small Business Management, 56(3), 392–411. https://doi.org/10.1111/jsbm.12275
Demerouti, E., Bakker, A. B., Nachreiner, F., & Schaufeli, W. B. (2001). The job demands-resources model of burnout. Jounal of Applied Psychological, 86(3), 499–512. https://doi.org/10.1037/0021-9010.86.3.499
Desimone, J. A., Harms, P. D., & Desimone, A. J. (2015). Best practice recommendations for data screening. Journal of Organizational Behavior, 36(2), 171–181. https://doi.org/10.1002/job.1962
DeTienne, D. R. (2010). Entrepreneurial exit as a critical component of the entrepreneurial process: Theoretical development. Journal of Business Venturing, 25(2), 203–215. https://doi.org/10.1016/j.jbusvent.2008.05.004
DeTienne, D. R., & Cardon, M. S. (2012). Impact of founder experience on exit intentions. Small Business Economics, 38(4), 351–374. https://doi.org/10.1007/s11187-010-9284-5
DeTienne, D., & Wennberg, K. (2016). Studying exit from entrepreneurship: New directions and insights. International Small Business Journal, 34(2), 151–156. https://doi.org/10.1177/0266242615601202
DeTienne, D. R., McKelvie, A., & Chandler, G. N. (2015). Making sense of entrepreneurial exit strategies: A typology and test. Journal of Business Venturing, 30(2), 255–272. https://doi.org/10.1016/j.jbusvent.2014.07.007
Ding, J. (2021). Psychological empowerment and turnover intention among university counselors: Emotional exhaustion as a mediator and emotion regulation as a moderator. Current psychology. https://doi.org/10.1007/s12144-021-02079-7
Doblhofer, D. S., Hauser, A., Kuonath, A., Haas, K., Agthe, M., & Frey, D. (2019). Make the best out of the bad: Coping with value incongruence through displaying facades of conformity, positive reframing, and self-disclosure. European Journal of Work and Organizational Psychology, 28(5), 572–593. https://doi.org/10.1080/1359432x.2019.1567579
Douglas, E. J., & Shepherd, D. A. (2014). Self-employment as a career choice: Attitudes, entrepreneurial intentions, and utility maximization. Entrepreneurship Theory & Practice, 38(26), 81–90. https://doi.org/10.4337/9781783479801.00025
Edwards, J. R., Caplan, R. D., & Harrison, R. V. (1998). Person–environment fit theory: Conceptual foundations, empirical evidence, and directions for future research. In C. CL (Ed.), Theories of organizational stress. Oxford University Press.
Enders, C. K. (2010). Applied missing data analysis. The Guilford Press.
Faul, F., & Erdfelder, E. (1992). GPOWER: A priori, post-hoc, and compromise power analyses for MS-DOS [computer program]. Bonn University.
Felstead, A., Gallie, D., Green, F., & Inanc, H. (2015). Fits, misfits and interactions: Learning at work, job satisfaction and job-related well-being. Human Resource Management Journal, 25(3), 294–310. https://doi.org/10.1111/1748-8583.12071
Ferguson, A. J., Cohen, L. E., Burton, M. D., & Beckman, C. M. (2016). Misfit and miletones: Structural elaboration and capability reinforcement in the evolution of entrepreneurial top management teams. Academy of Management Journal, 59(4), 1430–1450. https://doi.org/10.5465/amj.2014.0526
Follmer, E. H., Talbot, D. L., Kristof-Brown, A. L., Astrove, S. L., & Billsberry, J. (2018). Resolution, relief, and resignation: A qualitative study of responses to misfit at work. Academy of Management Journal, 61(2), 440–465. https://doi.org/10.5465/amj.2014.0566
Ford, M. T. (2012). Job-occupation misfit as an occupational stressor. Journal of Vocational Behavior, 80(2), 412–421. https://doi.org/10.1016/j.jvb.2011.10.004
Goldammer, P., Annen, H., Stockli, P. L., & Jonas, K. (2020). Careless responding in questionnaire measures: Detection, impact, and remedies. Leadership Quarterly, 31(4), 1–16. https://doi.org/10.1016/j.leaqua.2020.101384
Herman, A., & Sola, O. L. (2012). Conducting field experiments using eLancing's natural environment. Journal of Business Venturing, 27(4), 493–505. https://doi.org/10.1016/j.jbusvent.2012.01.002
Hmieleski, K. M., & Sheppard, L. D. (2019). The yin and Yang of entrepreneurship: Gender differences in the importance of communal and agentic characteristics for entrepreneurs' subjective well-being and performance. Journal of Business Venturing, 34(4), 709–730. https://doi.org/10.1016/j.jbusvent.2018.06.006
Hobfoll, S. E. (1989). Conservation of resources: A new attempt at conceptualizing stress. American Psychologist, 44(3), 513–524. https://doi.org/10.1037/0003-066x.44.3.513
Hobfoll, S. E. (2001). The influence of culture, community, and the nested-self in the stress process: Advancing conservation of resources theory. Applied Psychology, 50(3), 337–421. https://doi.org/10.1111/1464-0597.00062
Hoffman, B. J., & Woehr, D. J. (2006). A quantitative review of the relationship between person-organization fit and behavioral outcomes. Journal of Vocational Behavior, 68(3), 389–399. https://doi.org/10.1016/j.jvb.2005.08.003
Hsu, D. K., Wiklund, J., Anderson, S. E., & Coffey, B. S. (2016). Entrepreneurial exit intentions and the business-family interface. Journal of Business Venturing, 31(6), 613–627. https://doi.org/10.1016/j.jbusvent.2016.08.001
Hsu, D. K., Burmeister-Lamp, K., Simmons, S. A., Foo, M.-D., Hong, M. C., & Pipes, J. D. (2019). "I know I can, but I don't fit": Perceived fit, self-efficacy, and entrepreneurial intention. Journal of Business Venturing, 34(2), 311–326. https://doi.org/10.1016/j.jbusvent.2018.08.004
Huang, J. L., Curran, P. G., Keeney, J., Poposki, E. M., & DeShon, R. P. (2012). Detecting and deterring insufficient effort responding to surveys. Journal of Business and Psychology, 27(1), 99–114. https://doi.org/10.1007/s10869-011-9231-8
Huang, J., Wang, Y., & You, X. (2016). The job demands-resources model and job burnout: The mediating role of personal resources. Current Psychology, 35(4), 562–569. https://doi.org/10.1007/s12144-015-9321-2
Jin, M. H., McDonald, B., & Park, J. (2018). Person-organization fit and turnover intention: Exploring the mediating role of employee followership and job satisfaction through conservation of resources theory. Review of Public Personnel Administration, 38(2), 167–192. https://doi.org/10.1177/0734371x16658334
Justo, R., DeTienne, D. R., & Sieger, P. (2015). Failure or voluntary exit? Reassessing the female underperformance hypothesis. Journal of Business Venturing, 30(6), 775–792. https://doi.org/10.1016/j.jbusvent.2015.04.004
Kristof-Brown, A., & Guay, R. P. (2011). Person–environment fit. In S. Zedeck (Ed.), APA handbook of industrial and organizational psychology (pp. 3–50). American Psychological Association.
Kristof-Brown, A. L., Zimmerman, R. D., & Johnson, E. C. (2005). Consequences of individuals' fit at work: A meta-analysis of person-job, person-organization, person-group, and person-supervisor fit. Personnel Psychology, 58(2), 281–342. https://doi.org/10.1111/j.1744-6570.2005.00672.x
Li, J., Flores, L. Y., Yang, H., Weng, Q., & Zhu, L. (2021). The role of autonomy support and job crafting in interest incongruence: A mediated moderation model. Journal of Career Development. https://doi.org/10.1177/08948453211033903
Little, T. D., Cunningham, W. A., Shahar, G., & Widaman, K. F. (2002). To parcel or not to parcel: Exploring the question, weighing the merits. Structural Equation Modeling: A Multidisciplinary Journal, 9(2), 151–173. https://doi.org/10.1207/S15328007SEM0902_1
Liu, D., Zhang, Z., & Wang, M. (2012). Mono-level and multilevel mediated moderation and moderated mediation: Theorization and test. In X. Chen, A. S. Tsui, & J. L. Farh (Eds.), Empirical methods in organization and management research (pp. 553–587). Peking University Press.
Maertz, C. P., & Campion, M. A. (2004). Profiles in quitting: Integrating process and content turnover theory. Academy of Management Journal, 47(4), 566–582. https://doi.org/10.2307/20159602
Markman, G. D., & Baron, R. A. (2003). Person–entrepreneurship fit: Why some people are more successful as entrepreneurs than others. Human Resource Management Review, 13(2), 281–301. https://doi.org/10.1016/s1053-4822(03)00018-4
Marsh, H. W., Hau, K. T., & Wen, Z. L. (2004). In search of golden rules: Comment on hypothesis-testing approaches to setting cutoff values for fit indexes and dangers in overgeneralizing Hu and Bentler's (1999) findings. Structural Equation Modeling: A Multidisciplinary Journal, 11(3), 320–341. https://doi.org/10.1207/s15328007sem1103_2
Maslach, C., Schaufeli, W. B., & Leiter, M. P. (2001). Job burnout. Annual Review of Psychology, 52(1), 397–422 0066-4308/01/0201-0397.
Mitchell, T., Holtom, B. C., Lee, T. W., Sablynski, C. J., & Erez, M. (2001). Why people stay: Using job embeddedness to predict voluntary turnover. Academy of Management Journal, 44(6), 1102–1121. https://doi.org/10.2307/3069391
Murnieks, C. Y., Klotz, A. C., & Shepherd, D. A. (2020). Entrepreneurial motivation: A review of the literature and an agenda for future research. Journal of Organizational Behavior, 41(2), 115–143. https://doi.org/10.1002/job.2374
Muthén, L. K., & Muthén, B. O. (1998-2015). Mplus User's Guide (7th ed.). Muthén & Muthén.
Navarro, R. L., Flores, L. Y., Legerski, J.-P., Brionez, J., May, S. F., Suh, H. N., Slivensky, D. R., Tapio, F., Lee, H.-S., Garriott, P. O., Hunt, H. K., Desjarlais, C. D., Lee, B.-H., Diaz, D., Zhu, J., & Jung, A.-K. (2019). Social cognitive predictors of engineering Students' academic persistence intentions, satisfaction, and engagement. Journal of Counseling Psychology, 66(2), 170–183. https://doi.org/10.1037/cou0000319
Park, H. I., Jacob, A. C., Wagner, S. H., & Baiden, M. (2014). Job control and burnout: A Meta-analytic test of the conservation of resources model. Applied Psychology, 63(4), 607–642. https://doi.org/10.1111/apps.12008
Perry, S. J., Penney, L. M., & Witt, L. A. (2008). Coping with the constraints of self-employment: A person-situation model of entrepreneurial burnout. In G. T. S. (Ed.), The sixty-sixth annual meeting of the academy of management, San Antonio.
Podsakoff, P. M., MacKenzie, S. B., Lee, J.-Y., & Podsakoff, N. P. (2003). Common method biases in behavioral research: A critical review of the literature and recommended remedies. Journal of Applied Psychology, 88(5), 879–903. https://doi.org/10.1037/0021-9010.88.5.879
Preacher, K. J., & Hayes, A. F. (2008). Asymptotic and resampling strategies for assessing and comparing indirect effects in multiple mediator models. Behavior Research Methods, 40(3), 879–891. https://doi.org/10.3758/brm.40.3.879
Preacher, K. J., Rucker, D. D., & Hayes, A. F. (2007). Addressing moderated mediation hypotheses: Theory, methods, and prescriptions. Multivariate Behavioral Research, 42(1), 185–227. https://doi.org/10.1080/00273170701341316
Resick, C. J., Baltes, B. B., & Shantz, C. W. (2007). Person-organization fit and work-related attitudes and decisions: Examining interactive effects with job fit and conscientiousness. Journal of Applied Psychology, 92(5), 1446–1455. https://doi.org/10.1037/0021-9010.92.5.1446
Ross, J., Strevel, H., & Javadizadeh, B. (2020). Don't stop believin': The journey to entrepreneurial burnout and back again. Journal of Small Business & Entrepreneurship, 11(3), 1–24. https://doi.org/10.1080/08276331.2020.1717897
Sardeshmukh, S. R., Goldsby, M., & Smith, R. M. (2021). Are work stressors and emotional exhaustion driving exit intentions among business owners? Journal of Small Business Management, 59(4), 544–574. https://doi.org/10.1111/jsbm.12477
Shane, S. A. (2008). The illusions of entrepreneurship: The costly myths that entrepreneurs, investors, and policy makers live. Yale Univ Press.
Shane, S., & Delmar, F. (2004). Planning for the market: Business planning before marketing and the continuation of organizing efforts. Journal of Business Venturing, 19(6), 767–785. https://doi.org/10.1016/j.jbusvent.2003.11.001
Shepherd, C. D., Marchisio, G., Morrish, S. C., Deacon, J. H., & Miles, M. P. (2010). Entrepreneurial burnout: Exploring antecedents, dimensions and outcomes. Journal of Research in Marketing Entrepreneurship, 12(1), 71–79. https://doi.org/10.1108/14715201011060894
Siegall, M., & McDonald, T. (2004). Person-organization value congruence, burnout and diversion of resources. Personnel Review, 33(3), 291–301. https://doi.org/10.1108/00483480410528832
Siemsen, E., Roth, A., & Oliveira, P. (2010). Common method bias in regression models with linear, quadratic, and interaction effects. Organizational Research Methods, 13(3), 456–476. https://doi.org/10.1177/1094428109351241
Strese, S., Gebhard, P., Feierabend, D., & Brettel, M. (2018). Entrepreneurs' perceived exit performance: Conceptualization and scale development. Journal of Business Venturing, 33(3), 351–370. https://doi.org/10.1016/j.jbusvent.2018.01.005
Tabachnick, B., & Fidell, L. (2006). Cleaning up your act screening data prior to analysis. In N. Heights (Ed.), Using multivariate analysis (5th ed.).
Tetrick, L. E., Slack, K. J., Silva, N. D., & Sinclair, R. R. (2000). A comparison of the stress–strain process for business owners and nonowners: Differences in job demands, emotional exhaustion, satisfaction, and social support. Journal of Occupational Health Psychology, 5(4), 464–476. https://doi.org/10.1037/1076-8998.5.4.464
Tong, J., Wang, L., & Peng, K. (2015). From person-environment misfit to job burnout: Theoretical extensions. Journal of Managerial Psychology, 30(2), 169–182. https://doi.org/10.1108/jmp-12-2012-0404
Torres, O., Benzari, A., Fisch, C., Mukerjee, J., Swalhi, A., & Thurik, R. (2021). Risk of burnout in French entrepreneurs during the COVID-19 crisis. Small Business Economics. https://doi.org/10.1007/s11187-021-00516-2
Wang, M., Zhan, Y., McCune, E., & Truxillo, D. (2011). Understanding newcomers' adaptability and work-related outcomes: Testing the mediating roles of perceived P-E fit variables. Personnel Psychology, 64(1), 163–189. https://doi.org/10.1111/j.1744-6570.2010.01205.x
Wei, X., Cang, S., & Hisrich, R. D. (2015). Entrepreneurial stressors as predictors of entrepreneurial burnout. Psychological Reports, 116(1), 74–88. https://doi.org/10.2466/01.14.pr0.116k13w1
Wennberg, K., & DeTienne, D. R. (2014). What do we really mean when we talk about 'exit'? A critical review of research on entrepreneurial exit. International Small Business Journal, 32(1), 4–16. https://doi.org/10.1177/0266242613517126
Wennberg, K., Wiklund, J., DeTienne, D. R., & Cardon, M. S. (2010). Reconceptualizing entrepreneurial exit: Divergent exit routes and their drivers. Journal of Business Venturing, 25(4), 361–375. https://doi.org/10.1016/j.jbusvent.2009.01.001
Wheeler, A. R., Gallagher, V. C., Brouer, R. L., & Sablynski, C. J. (2007). When person-organization (mis)fit and (dis)satisfaction lead to turnover: The moderating role of perceived job mobility. Journal of Managerial Psychology, 22(2), 203–219. https://doi.org/10.1108/02683940710726447
Wheeler, A. R., Halbesleben, J. R. B., & Shanine, K. (2013). Exploring the middle range of person-environment fit theories through a conservation of resources perspective. In A. L. Kristof-Brown & J. Billsberry (Eds.), Organizational fit: Key issues and new directions (pp. 170–194). Wiley-Blackwell.
Yamakawa, Y., & Cardon, M. S. (2017). How prior investments of time, money, and employee hires influence time to exit a distressed venture, and the extent to which contingency planning helps. Journal of Business Venturing, 32(1), 1–17. https://doi.org/10.1016/j.jbusvent.2016.10.002
Zhao, H., Seibert, S. E., & Hills, G. E. (2005). The mediating role of self-efficacy in the development of entrepreneurial intentions. Journal of Applied Psychology, 90(1), 267–296. https://doi.org/10.1037/0021-9010.90.6.1265
Zhu, F., Burmeister-Lamp, K., & Hsu, D. K. (2017). To leave or not? The impact of family support and cognitive appraisals on venture exit intention. International Journal of Entrepreneurial Behavior & Research, 23(3), 566–590. https://doi.org/10.1108/ijebr-04-2016-0110
Funding
This study was funded by the National Natural Science Foundation of China (project number 71871209; 71910107003).
Author information
Authors and Affiliations
Contributions
All authors contributed to the study’s conception and design. Haiyuan Zhao wrote the first draft of manuscript. Junyi Li and Wenyang Gao conducted the reviewing and editing. Qingxiong Weng performed the supplement analysis during the review process and provided funding support. All authors read and approved the final manuscript.
Corresponding author
Ethics declarations
Conflict of Interest
The authors have no relevant financial or non-financial interests to disclose.
Ethics Approval
All procedures performed in studies involving human participants were in accordance with the ethical standards of the institutional and/or national research committee and with the 1964 Helsinki Declaration and its later amendments or comparable ethical standards.
Informed Consent
Informed consent was obtained from all individual participants included in the study.
Additional information
Publisher’s Note
Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.
Supplementary information
ESM 1
(DOCX 20 kb)
Rights and permissions
About this article
Cite this article
Zhao, H., Li, J., Gao, W. et al. Why and when does person-entrepreneurship misfit promote entrepreneurial exit intention? A conservation of resources perspective. Curr Psychol 42, 19752–19766 (2023). https://doi.org/10.1007/s12144-022-03079-x
Accepted:
Published:
Issue Date:
DOI: https://doi.org/10.1007/s12144-022-03079-x