Late-career entrepreneurship, income and quality of life

Teemu Kautonen, Ewald Kibler, Maria Minniti

Research output: Contribution to journalArticlepeer-review

137 Scopus citations


Late-career transitions to entrepreneurship are discussed as a promising way to address some of the problematic implications of population aging. By extending employment choice theory to simultaneously account for career stage and for non-monetary rewards from entrepreneurship, we investigate how late-career transitions from organizational employment to entrepreneurship influence the returns from the monetary (income) and non-monetary (quality of life) components of an individual's utility. Using data from the English Longitudinal Study of Ageing, our empirical analysis shows that for late-career individuals, starting a business is positively associated with change in quality of life and negatively associated with change in income.

Original languageEnglish (US)
Pages (from-to)318-333
Number of pages16
JournalJournal of Business Venturing
Issue number3
StatePublished - May 1 2017

ASJC Scopus subject areas

  • Business and International Management
  • Management of Technology and Innovation


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