Mojca Svetek (Author), Mateja Drnovšek (Author)

Abstract

Entrepreneurial activity has been seen as the single most important activity of individuals due to its role in the economic development of nations. However, little is known about the impact of entrepreneurial activity on the subjective well-being of nations beyond its economic impact. The purpose of this study is to explore the impact of different types of entrepreneurial activity - total entrepreneurial activity, opportunity-driven entrepreneurial activity and innovative entrepreneurial activity - on subjective well-being across nations. We consider three distinct mechanisms by which entrepreneurship may influence subjective well-being at the national level. Our panel data includes representative country-level data from 2008 to 2015 from five different data sources for 31 European countries. We employ four econometric models for analyzing the panel data: pooled OLS regression (POLS), fixed effects model (FE), random effects model (RE), and simultaneous equations model (3SLS). Our results suggest that opportunity-driven entrepreneurial activity has a positive impact on subjective well-being. In addition, we find that subjective well-being affects the level of opportunity-driven and innovative entrepreneurial activity. These findings have implications for policy-makers seeking to promote not only economic development but also subjective well-being in the nation.

Keywords

podjetništvo;delovni učinek;zadovoljstvo;

Data

Language: English
Year of publishing:
Typology: 1.01 - Original Scientific Article
Organization: UL EF - Faculty of Economics
UDC: 658
COBISS: 60573187 Link will open in a new window
ISSN: 1389-4978
Views: 500
Downloads: 214
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Other data

Secondary language: Slovenian
Secondary keywords: entrepreneurship;work performance;satisfaction;
Type (COBISS): Article
Pages: str. 149-170
Issue: ǂVol. ǂ23
Chronology: 2022
DOI: 10.1007/s10902-021-00392-3
ID: 12835079