Late-career entrepreneurship, income and quality of life

Teemu Kautonen, Ewald Kibler, Maria Minniti Koppl

Research output: Contribution to journalArticleScientificpeer-review

53 Citations (Scopus)
434 Downloads (Pure)


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
Pages (from-to)318-333
JournalJournal of Business Venturing
Issue number3
Publication statusPublished - May 2017
MoE publication typeA1 Journal article-refereed


  • Entrepreneurship
  • Aging
  • quality of life
  • income

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