Job satisfaction, expected retirement financial insufficiency, and the expected retirement age of the entrepreneurs: an attraction-selection-attrition theory perspective

Abstract

Purpose Underpinned by the attraction-selection-attrition theory, this paper aims to investigate the impact of entrepreneurship on an individual’s expected retirement age and explore how job satisfaction and expected retirement financial insufficiency (ERFI) as key factors can explain that. Design/methodology/approach A framework including direct and indirect relationships among key factors is empirically tested by using a pooled data sets consists of 13,420 individuals from the UK Household Longitudinal Survey, the analysis uses the entropy balance matching method and combined with quasi-bayesian monte Carlo method and hierarchy regressions to enhance the robustness of results. Findings The research finds entrepreneurs plan to retire later than organizational employees. In addition, a strong mediating impact of job satisfaction and moderating role of ERFI on the relationship between entrepreneurship and expected retirement age is verified. Originality/value The theoretical perspective and findings offer a novel insight into the research on entrepreneurs’ decision of retirement. The findings suggest entrepreneurs as crucial policy stakeholders contribute to retirement deferment should be valued. Effective interventions could be delicately designed in the future to unleash the potential of entrepreneurship in dealing with aging challenges.