Managers’ mental models of small business acquisition: the case of the SME French transfer market

Abstract

With the retirement of the baby boomers, much work is needed to promote the transfer of small and medium-sized enterprises (SMEs) in France, whether through acquisitions by a natural person or by a company. The purpose of this research is to understand the genesis of the small business acquisition process among French managers. The research is based on the assumption that the mental models developed at this stage of the process have a major impact on subsequent stages. This paper draws on several theories rooted in the field of entrepreneurial cognition to propose a model of how managers form mental models of small business acquisition. It presents the results of an empirical study conducted among members of the network of the Centre des Jeunes Dirigeants (Center for Young Managers). First, based on the 245 responses received, this article introduces a classification of managers’ mental models of small business acquisition. Second, our research examines various relationships between the managers’ mental models and their intentions and behaviors in the area of small business acquisition.