Entrepreneurship and Subjective Well-Being: The Mediating Role of Psychological Functioning
Christopher Boudreaux and
Entrepreneurship Theory and Practice, 2020, vol. 44, issue 3, 557-586
Well-being is an essential outcome of engagement in entrepreneurship, but the pathway from self-employment to well-being is poorly understood. To address this, we develop a model in which psychological functioningâ€”purposeful engagement with life, realization of personal talents and capabilities, and fulfillment of intrinsic needs such as autonomy and competenceâ€”mediates the relationship between entrepreneurship and subjective well-being. We test our model with data from the European Social Survey using structural equation modeling and a series of robustness tests (e.g., propensity score matching estimators and accounting for model uncertainty). Results suggest that entrepreneurship is associated with substantial benefits in terms of psychological functioningâ€”both personal and socialâ€”which almost entirely mediate the relationship between entrepreneurship and subjective well-being. These findings highlight psychological functioning as a critical pathway between entrepreneurship and subjective well-being.
Keywords: entrepreneurship; self-employment; subjective well-being; psychological functioning (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:sae:entthe:v:44:y:2020:i:3:p:557-586
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