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Can entrepreneurship bring happiness? Evidence from China

Daping Zhao, Jialing Jiang and Zhichao Yin

Economic Modelling, 2020, vol. 91, issue C, 679-686

Abstract: This paper investigates the relationship between entrepreneurial activities and the happiness of entrepreneurs. We estimate the effects of entrepreneurial decision-making, business experience and other factors on happiness by using China Household Finance Survey data. Our results derived from maximum likelihood estimation methods indicate that entrepreneurial decision-making and entrepreneurial experience affect household happiness significantly. The family well-being is significantly increased if the family is entrepreneurial, and it will be higher if actively entrepreneurial. Both entrepreneurial experience and entrepreneurial investment of time have significantly positive effect on the probability of family well-being. In addition, we find that the mechanism by which entrepreneurship brings happiness to households is through raising household income and wealth, that is, income effects and wealth effects.

Keywords: Entrepreneurial activities; Happiness; Income effect; Wealth effect (search for similar items in EconPapers)
JEL-codes: I31 J24 L26 M13 (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1016/j.econmod.2019.12.009

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