Retail entrepreneurs’ exit intentions: Influence and mediations of personality and job-related factors

1 Retail entrepreneurs’ exit intentions: Influence and mediations of personality and job-related factors Abstract In this study we investigate retail entrepreneurs’ exit intentions by focusing on their job satisfaction, job-related stress, customer orientation, and dispositional optimism. We develop and test four hypotheses with structural equation modelling on a sample of 365 retail entrepreneurs. Our results indicate that dispositional optimism is a substantial driver of retail entrepreneurs’ customer orientation and job satisfaction. Dispositional optimism also decreases their job-related stress. We also find that that both customer orientation and jobrelated stress mediate the relationship between dispositional optimism and job satisfaction prior to exit intentions. Finally, we found that job satisfaction has a mediating effect on the relationship between job-related stress and exit intentions. 1. Introduction The past decade has evidenced an increasing interest for entrepreneurial exit (DeTienne & Wennberg, 2016). In the Nordic countries, the entrepreneurial environment is very favorable to entrepreneurship and promoting it is a policy priority for local governments (OECD, 2017). Nevertheless, these actions risk attracting into self-employment individuals who are not truly capable of acting as entrepreneurs or might not be resilient if economic conditions deteriorate (Millan, Congregado, & Roman, 2012). If entrepreneurship is chosen as a career without the “right” mindset or necessary skills, risk of quitting increases. In this study, we focus on retail entrepreneurs’ exit intentions. A retail entrepreneur is the owner and manager of his or her retail business. A retail entrepreneur should not be This is the accepted manuscript of the article, which has been published in Journal of Retailing and Consumer Services. 2020, 54(May), 102055. https://doi.org/10.1016/j.jretconser.2020.102055 2 confused with the corporate manager of a retail chain or similar retail institution. Typically, retail entrepreneurs run small stores with a few employees (e.g., Grimmer et al., 2017). Entrepreneurs have a significant role in the economy as employers, job creators, and innovators (Hessels et al., 2018). When retail entrepreneurs leave the business they have created, it affects not only the retailers themselves but also their employees, clients, and other stakeholders, such as local suppliers. Therefore, it is important to understand why retail entrepreneurs quit. Most of the research on entrepreneurial exit has looked at the characteristics of the firm or the demographic and human capital factors of the entrepreneurs (e.g., Van Gelderen, Thurik, & Pankaj, 2011; Wennberg et al., 2010). More sporadically, the literature examines softer characteristics such as resilience (e.g., Martinelli, Tagliazucchi, & Marchi, 2018), depression (Hessels et al., 2018), or personality traits like openness, patience, or agreeableness (e.g., Caliendo, Fossen, & Kritikos, 2014). Our study contributes to this conversation by explaining retail entrepreneurs’ exit intentions by focusing on their job satisfaction, job-related stress, customer orientation and dispositional optimism. We start by looking the relationship between retail entrepreneurs’ dispositional optimism and customer orientation. To the best of our knowledge, no previous study has explored the potential link between retail entrepreneurs’ dispositional optimism (e.g., Scheier, Carver, & Bridges, 1994; Scheier & Carver, 1985; 1987) and customer orientation (e.g., Brown et al., 2002; Donavan et al., 2004; Zablah et al., 2012). Given the potential importance of both optimism and customer orientation in entrepreneurial behavior and success (see e.g., Crane et al., 2012), the lack of studies in this area is striking. Furthermore, we investigate how retail entrepreneurs’ customer orientation might mediate the relationship between dispositional optimism and job satisfaction prior to exit intentions. In general, customer orientation is shown to play an important role in guiding job- 3 related attitudes and behaviors (Babakus et al., 2011; Yavas et al., 2011; Yavas & Babakus, 2010; Zablah et al., 2012). In addition, we test the mediating role of job-related stress on the relationship between dispositional optimism and job satisfaction prior to exit intentions. While the associations between job-related stress (e.g., Sullivan & Baghat, 1992) or dispositional optimism (e.g., Crosno et al., 2009; Munyon et al., 2010) and job satisfaction have been established in the literature, it is not as clear how job-related stress and dispositional optimism interact among retail entrepreneurs. We intend to close the loop between dispositional optimism, customer orientation, job-related stress, job satisfaction, and exit intentions. Prior evidence demonstrated strong relationships between job-related stress and job satisfaction (e.g., Sullivan & Baghat, 1992), job-related stress and exit intentions (e.g., Chen et al., 2011; Hwang et al., 2014), and job satisfaction and exit intentions (e.g., Ashill et al., 2008; Valentine et al., 2011). Zablah et al. (2012) explained the negative link between job stress and job satisfaction by stating that job stress creates job strain which results in decreased job satisfaction. In addition, Karatepe and Karatepe (2009) asserted that workers who are less stressed stay longer in an organization, an explanation that we can reverse for job satisfaction. Here, we examine the mediating role of job satisfaction on the relationship between job-related stress and retail entrepreneurs’ exit intentions. Therefore, this study examines how personalityand job-related factors help to understand entrepreneurial exit with special attention to the roles of customer orientation and job-related variables. This study contributes to the literature on retail entrepreneurs in three ways. It explores a basic personality trait, dispositional optimism, and its effects on retail entrepreneurs. In addition, it extends the understanding of customer orientation as a key work value among retail entrepreneurs. Finally, by analyzing job-related factors among retail entrepreneurs and how these factors are linked. 4 Figure 1 illustrates our model. Adding to the growing body of retail research in the Nordic countries (e.g., Johansson & Nordfaldt, 2011), we test our model using structural equation modelling (SEM) with a sample of 365 retail entrepreneurs. Take in Figure 1 about here 2. Theoretical background: A hierarchical approach to personality To create a more comprehensive understanding of the relationship between dispositional optimism and customer orientation, we apply a hierarchical approach to personality. This model assumes that personality traits shape our behaviors and determine how we respond. While the literature offers various conceptualization of personality traits, there is a shared view that personality traits are organized hierarchically (e.g., Eysenck 1947; Mowen & Spears 1999). In our study, personality traits are either basic or surface-level. Basic personality traits exist at the higher hierarchical levels and they form the building blocks of personality that shape most of our behaviors and identify us as a person. Perhaps the best-known basic traits are the Big Five: openness to experience, extraversion, conscientiousness, neuroticism, and agreeableness (Saucier, 1994). Surface-level traits are narrower and exist lower if the hierarchy. This means that surface-level traits are the immediate determinants of actual behaviors. In other words, whereas basic personality traits direct behaviors across situational contexts, surface-level traits are more like enduring behavioral dispositions (e.g., Brown et al., 2002; Harris & Mowen, 2001). A key assumption in a hierarchical model is that basic traits are the foundation of surface-level traits. Thus, surface-level traits are related to the situational context where the 5 actual behavior takes place (Brown et al., 2002). In our study, dispositional optimism is seen as a basic personality trait and customer orientation as a surface-level trait. 3. Hypothesis development Building upon the relationships established in the literature, we focus on the following personality and job-related factors: 1) dispositional optimism as an antecedent of customer orientation; 2) the mediating roles of customer orientation and job-related stress between dispositional optimism and job satisfaction prior to exit intentions; and 3) the mediating role of job satisfaction between job-related stress and exit intentions. In this study, we hypothesize and test relationships among these constructs. To best of our knowledge, this study is the first to explore these relationships together. 3.1 Dispositional optimism and customer orientation Dispositional optimism is most often defined as the global tendency to believe that one will face positive outcomes (e.g., Crane et al., 2012; Scheier & Carver, 1985; 1992; Scheier et al., 1994). Customer orientation is most often defined as an enduring disposition to meet customers’ needs (e.g., Brown et al., 2002; Donavan et al., 2004). According to Zablah et al. (2012), customer orientation can be seen as a work value that satisfies customer needs. In accordance with previous studies on optimism (e.g., Hayes & Weathington, 2007; Monzani et al., 2015; Rasmussen et al., 2006; Scheier & Carver, 1992; Scheier et al., 1994), one can assume that optimistic retail entrepreneurs have personal attributes that foster their customer-oriented thinking and behavior. To be more specific, one can assume optimistic retail entrepreneurs expect positive outcomes not only in their personal lives, but also in their 6 customer relationships, and they also engage in behaviours (such as solving customers’ problems and needs) to ensure these positive outcomes (cf. Görgens-Ekermans and Steyn, 2016; Loveland et al., 2015; Zhang et al., 2019). In fact, it is relatively well documented that optimistic people who are confident about the future put more effort into accomplishing their goals and approach challenges with enthusiasm and persistence (e.g., Carver & Scheier, 2015; Carver et al., 2005; Geers et al., 2009; Monzani et al., 2015). Finally, it has been argued that optimistic people enjoy higher-quality relationships (Carver & Scheier, 2015) because optimism is positively associated with social support and social network development (Geers et al., 1998; Srivastava et al., 2006). Based on the ideas, we propose our first hypothesis: Hypothesis 1. Retail entrepreneurs’ dispositional optimism is positively related to their customer orientation. 3.2 Other direct relationships Although non-hypothesized, we briefly explain here the direct relationships in our model. Previous studies have linked optimism to job satisfaction (e.g., Crosno et al., 2009; Munyon et al., 2010; see also Görgens-Ekermans & Steyn, 2016; Mincu, 2015). For example, Munyon et al. (2010) found that optimism has a substantial role in enhancing work satisfaction. Munyon et al. (2010) explained this link by stating that optimism helps with the acquisition of the personal resources or behaviors that are likely to lead to greater satisfaction with work. In turn, Rasmussen et al. (2006) stated that optimistic people should experience relatively positive feelings. These positive feelings are relevant from the viewpoint of job satisfaction. In fact, accumulating evidence shows a positive link between positive feelings 7 and job satisfaction and a negative link between negative feelings and job satisfaction (Agho et al., 1992; Brief & Roberson, 1989; Watson & Slack, 1993). In addition, a vast body of research has shown that dispositional optimism predicts less stress (Crosno et al., 2009; Scheier et al., 1996; Tuten & Neidermeyer, 2004). For example, Chan (2004) demonstrated that people with an optimistic mindset tend to better protect themselves from the effects of perceived stress. Tuten and Neidermeyer (2004) also found that optimists perceived less job stress. Pu et al. (2016) have found that people with high expectations, and not only in terms of their abilities but also regarding the future, are less likely to experience depressive emotions. Scheier et al. (1996) found that problem-focused coping behaviors, the search for social support, and emphasis on positive aspects explain why optimists are less stressed than pessimists. The positive relationship between customer orientation and job satisfaction is well documented (see e.g., Briggs et al., 2015; Lindblom et al., 2015). For example, Franke and Park (2006) found that sales workers with a strong customer orientation demonstrate a higher job satisfaction than those with a weaker one. Harris et al. (2005) also found a positive and significant influence of customer orientation on job satisfaction. Donavan et al. (2004) emphasized that customer orientation will enhance job satisfaction, but not vice versa. Zablah et al. (2012) have also demonstrated that customer orientation increases job engagement. In summary, we expect that among retail entrepreneurs, job-related stress will be negatively associated with job satisfaction (e.g. Babin & Boles, 1998; Sullivan & Baghat, 1992) and positively associated with exit intentions (Karatepe & Karatepe, 2009; Pahi et al., 2016), and that job satisfaction will be negatively associated with exit intentions (Valentine et al., 2011; Ashill et al., 2008; Jaramillo et al., 2006; Lindblom et al., 2015). Many of these assumptions are consistent with the study by Tongchaiprasit and Ariyabuddhiphongs (2016) which found that job satisfaction is negatively related to job stress; job stress, in turn, has a 8 significant effect on turnover intentions. Wickramasinghe (2016) found that job stress is significantly negatively related to career commitment. 3.3 The mediating role of customer orientation As mentioned earlier, we hypothesized the three mediating relationships in our model. Based on the hierarchical approach to personality and the research by Brown et al. (2002; see also Zablah et al., 2012) that demonstrated the mediating effect of customer orientation between basic personality traits and performance evaluations, we assume that customer orientation can also act as a mediating variable in the relationship between dispositional optimism and job satisfaction. In other words, customer orientation as a surface-level trait mediates the effects from basic personality traits (dispositional optimism) to job-related outcomes (job satisfaction). This assumption is in line with a hierarchical approach to personality and its effects on individual behavior (see in more detail Brown et al., 2002; Allport, 1961). One could also say that this supports a psychological perspective to customer orientation that considers the possibility that customer orientation is a mediated predictor of job outcomes (Zablah et al., 2012; cf. He et al., 2015). We therefore predict the following: Hypothesis 2. Retail entrepreneurs’ customer orientation mediates the relationship between dispositional optimism and job satisfaction. 3.4 The mediating role of job-related stress We also assume that job-related stress can act as a mediator in the relationship between dispositional optimism and job satisfaction. This assumption comes close to the 9 finding presented by Zablah et al. (2012). Zablah et al. (2012) demonstrated that job stress mediates customer orientation’s effects on self-rated performance. They conclude that jobrelated stress is a mediational mechanism where customer orientation (as a psychological resource) affects frontline employees’ job outcomes. In similar vein, we predict that jobrelated stress mediates the effects of retail entrepreneurs’ dispositional optimism on their job satisfaction. This view also finds support from previous studies showing that optimism is negatively associated with job stress (e.g. Tuten & Neidermeyer, 2004; Crosno et al., 2009). Studies have also indicated that job stress is negatively linked to job satisfaction (e.g. Babin & Boles, 1998; Sullivan & Baghat, 1992). We therefore predict: Hypothesis 3. Retail entrepreneurs’ job-related stress mediates the relationship between dispositional optimism and job satisfaction. 3.5 The mediating role of job satisfaction Finally, we assume that job satisfaction can mediate the relationship between jobrelated stress and exit intentions. Pahi et al. (2016) found that job satisfaction mediates the relationship between job stress and turnover intension. Villanueva and Djurkovic (2009) found that job satisfaction partially mediated the relationship between job stress and exit intentions. Podsakoff et al. (2007) also published an interesting study on how turnover can be influenced by distinct stressors (such as challenges or hindrances) which are partly mediated through satisfaction with job. Based on the foregoing and the fact that job stress is demonstrated to be negatively linked to job satisfaction (e.g. Babin & Boles, 1998; Sullivan & Baghat, 1992) and job satisfaction, in turn, negatively to exit intentions (e.g. Karatepe et al., 2007), we can expect a mediating role of job satisfaction: 16 mindsets. Based on our study, dispositional optimism is a personality trait that enhances retailers’ customer orientation (i.e., their customer-oriented thinking and behavior). One potential explanation for this finding, consistent with literature on dispositional optimism (e.g., Scheier & Carver, 1985; 1987; Scheier et al., 1994), might be that optimistic retail entrepreneurs expect positive outcomes not only in their personal lives, but also in their customer relationships. Their behaviors are conducive to these positive outcomes. As a second contribution, our findings indicate that customer orientation and jobrelated stress mediate the relationship between dispositional optimism and job satisfaction prior to exit intentions. We also found that job satisfaction mediates the relationship between job-related stress and exit intentions. Taken together, our findings on the mediating effects extend our knowledge of the relationships between basic personality traits (dispositional optimism), surface-level traits (customer orientation) and job-related factors (cf. e.g. Brown et al., 2002; Zablah et al., 2012). From the theoretical point of view, a hierarchical approach to personality can be useful in studying the complex relationships between retail entrepreneurs’ personality and jobrelated factors. Thus, a hierarchical approach to personality can help to understand the drivers of entrepreneurial exit among retail entrepreneurs. As a third contribution, our research results suggest that retail entrepreneurs’ dispositional optimism is positively related to their job satisfaction and negatively to their jobrelated stress. One can explain these findings by stating that optimism helps to gain personal resources or to engage in behaviors that are likely to lead to greater job satisfaction and less stress at work (Munyon et al., 2010; Tuten & Neidermeyer, 2004). In sum, our findings support previous studies’ findings on the effects of optimism (e.g., Crosno et al., 2009; Scheier & Carver, 1985; 1987). 17 As a fourth contribution, we showed that retail entrepreneurs’ customer orientation is positively related to their job satisfaction. One can explain this link by saying that retailers with a strong customer orientation have a natural affinity for customer service and, as a result, these retailers will experience greater job satisfaction (Donavan et al., 2004). In other words, our finding is well in line with previous studies that have demonstrated the positive link between customer orientation and job satisfaction (e.g., Franke & Park, 2006; Harris et al., 2005). As a fifth contribution, we showed that retail entrepreneurs’ job-related stress is negatively related to their job satisfaction. Furthermore, retail entrepreneurs’ job satisfaction is negatively related to their exit intentions but retail entrepreneurs’ job-related stress is positively related to their exit intentions. These findings reiterate those of previous studies (see, e.g., Ashill et al., 2008; Jaramillo et al., 2006; Pahi et al., 2016; Valentine et al., 2011). To sum up, our study has enhanced the understanding of retail entrepreneurs’ intentions to remain in or leave retail career. To be more specific, our study shows that job satisfaction and job stress are significant predictors of retail entrepreneurs’ exit intentions. 6.2 Practical implications Retailers who aspire to a long career as entrepreneurs should enjoy high levels of job satisfaction at the store level, and report less job-related stress. Although these are obvious statements, increasing job satisfaction and reducing job-related stress is more easily said than done. Our study has shown that dispositional optimism and customer orientation can affect these job-related factors in a way that retailers’ exit intentions are likely to diminish. Therefore, our first managerial implication is related to the question how to become a more optimistic retailer. Numerous mindfulness techniques and meditation practices are 18 available to fine-tune one’s attitude. The internet offers many mental exercises that promise to enhance positive thinking. However, many of these mental exercises are ineffectual “5 steps to becoming more optimistic” programs that reduce optimism to a facile choice that anyone can make. However, as Carver and Scheier (2014) have explained, optimism is a stable personality trait over time. This raises questions about whether these mental exercises have pervasive or long-lasting effects. Loveland et al. (2015) argued that the value of optimism training is uncertain. In contrast, Görgens-Ekermans and Steyn (2016) stated that training interventions can cultivate optimism. In sum, although optimism is not an unchangeable mental structure, that changing a person’s outlook on life is not easy (Carver & Scheier, 2014). This raises the big question of what kind of people (or personalities) make the best entrepreneurs (cf. Loveland et al., 2015). Based on our study, we claim that optimism should be a basic requirement for anyone interested in an entrepreneurial career in retailing. Furthermore, our study indicates that people with a strong customer orientation are the most likely to enjoy their career as retail entrepreneurs, and they probably have also less intention to quit. Hence, in terms of our second managerial implication, we encourage retailers to take advantage of training programs, peer-to-peer learning or similar programs designed to improve their customer-oriented thinking and behavior. This means that although retailers’ customer orientation is an enduring disposition, it can be enhanced by proper intervention (see e.g., Babakus et al., 2009; Loveland et al., 2015). It is also important for retailers to understand that their optimism is a basis of their customer orientation. One could say that retailers who have high levels of optimism are likely to have a stronger customer orientation. On the other hand, a serious lack optimism could indicate less of a customer orientation. Also, when a retailer has a negative outlook in general, customer orientation can 19 be difficult to enhance by any means. This highlights the fact that basic personality traits are the foundation of surface-level traits. 7. Limitations and future research This study is not without limitations. First, because of its cross-sectional design, any causality among the factors in our study should be interpreted with caution. A second limitation pertains to our sample. The study was conducted among retail entrepreneurs; further studies should examine whether the association found here are also viable for entrepreneurs in other fields. Furthermore, some retailers might see themselves as more customer oriented than they actually are. Self-administered questionnaires offer the respondents an easy way of painting an overly optimistic picture of themselves. These problems can be confronted by a carefully designed and administered questionnaire. 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