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What Makes Entrepreneurs Happy? Determinants of Satisfaction Among Founders

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  • Martin Carree

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  • Ingrid Verheul

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Suggested Citation

  • Martin Carree & Ingrid Verheul, 2012. "What Makes Entrepreneurs Happy? Determinants of Satisfaction Among Founders," Journal of Happiness Studies, Springer, vol. 13(2), pages 371-387, April.
  • Handle: RePEc:spr:jhappi:v:13:y:2012:i:2:p:371-387
    DOI: 10.1007/s10902-011-9269-3
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    References listed on IDEAS

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    1. Sarasvathy, D. K. & Simon, Herbert A. & Lave, Lester, 1998. "Perceiving and managing business risks: differences between entrepreneurs and bankers," Journal of Economic Behavior & Organization, Elsevier, vol. 33(2), pages 207-225, January.
    2. Mathew L. A. Hayward & Dean A. Shepherd & Dale Griffin, 2006. "A Hubris Theory of Entrepreneurship," Management Science, INFORMS, vol. 52(2), pages 160-172, February.
    3. Saziye Gazioglu & Aysit Tansel, 2006. "Job satisfaction in Britain: individual and job related factors," Applied Economics, Taylor & Francis Journals, vol. 38(10), pages 1163-1171.
    4. Daniel Kahneman & Dan Lovallo, 1993. "Timid Choices and Bold Forecasts: A Cognitive Perspective on Risk Taking," Management Science, INFORMS, vol. 39(1), pages 17-31, January.
    5. Francesco Ferrante, 2009. "Education, Aspirations and Life Satisfaction," Kyklos, Wiley Blackwell, vol. 62(4), pages 542-562, November.
    6. Stutzer, Alois, 2004. "The role of income aspirations in individual happiness," Journal of Economic Behavior & Organization, Elsevier, vol. 54(1), pages 89-109, May.
    7. Senik, Claudia, 2009. "Direct evidence on income comparisons and their welfare effects," Journal of Economic Behavior & Organization, Elsevier, vol. 72(1), pages 408-424, October.
    8. Blanchflower, David G & Oswald, Andrew J, 1998. "What Makes an Entrepreneur?," Journal of Labor Economics, University of Chicago Press, vol. 16(1), pages 26-60, January.
    9. Becker, Gary S, 1993. "Nobel Lecture: The Economic Way of Looking at Behavior," Journal of Political Economy, University of Chicago Press, vol. 101(3), pages 385-409, June.
    10. Kihlstrom, Richard E & Laffont, Jean-Jacques, 1979. "A General Equilibrium Entrepreneurial Theory of Firm Formation Based on Risk Aversion," Journal of Political Economy, University of Chicago Press, vol. 87(4), pages 719-748, August.
    11. Clark, Andrew E. & Oswald, Andrew J., 1996. "Satisfaction and comparison income," Journal of Public Economics, Elsevier, vol. 61(3), pages 359-381, September.
    12. Matthias Benz & Bruno S. Frey, 2008. "Being Independent is a Great Thing: Subjective Evaluations of Self-Employment and Hierarchy," Economica, London School of Economics and Political Science, vol. 75(298), pages 362-383, May.
    13. Benz, Matthias & Frey, Bruno S., 2008. "The value of doing what you like: Evidence from the self-employed in 23 countries," Journal of Economic Behavior & Organization, Elsevier, vol. 68(3-4), pages 445-455, December.
    14. Amit, Raphael & MacCrimmon, Kenneth R. & Zietsma, Charlene & Oesch, John M., 2001. "Does money matter?: Wealth attainment as the motive for initiating growth-oriented technology ventures," Journal of Business Venturing, Elsevier, vol. 16(2), pages 119-143, March.
    15. Clark, Andrew E. & Oswald, Andrew J. & Warr, Peter B., 1994. "Is job satisfaction u-shaped in age ?," CEPREMAP Working Papers (Couverture Orange) 9407, CEPREMAP.
    16. Cooper, Arnold C. & Artz, Kendall W., 1995. "Determinants of satisfaction for entrepreneurs," Journal of Business Venturing, Elsevier, vol. 10(6), pages 439-457, November.
    17. Wellington, Alison J., 2006. "Self-employment: the new solution for balancing family and career?," Labour Economics, Elsevier, vol. 13(3), pages 357-386, June.
    18. Forbes, Daniel P., 2005. "Are some entrepreneurs more overconfident than others?," Journal of Business Venturing, Elsevier, vol. 20(5), pages 623-640, September.
    19. Clark, Andrew E., 1997. "Job satisfaction and gender: Why are women so happy at work?," Labour Economics, Elsevier, vol. 4(4), pages 341-372, December.
    20. Ada Ferrer-i-Carbonell & Paul Frijters, 2004. "How Important is Methodology for the estimates of the determinants of Happiness?," Economic Journal, Royal Economic Society, vol. 114(497), pages 641-659, July.
    21. Andersson, Pernilla, 2008. "Happiness and health: Well-being among the self-employed," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(1), pages 213-236, February.
    22. Stuart Fraser & Francis J. Greene, 2006. "The Effects of Experience on Entrepreneurial Optimism and Uncertainty," Economica, London School of Economics and Political Science, vol. 73(290), pages 169-192, May.
    23. Boes, Stefan & Staub, Kevin & Winkelmann, Rainer, 2010. "Relative status and satisfaction," Economics Letters, Elsevier, vol. 109(3), pages 168-170, December.
    24. Wright, Mike & Robbie, Ken & Ennew, Christine, 1997. "Venture capitalists and serial entrepreneurs," Journal of Business Venturing, Elsevier, vol. 12(3), pages 227-249, May.
    25. Carree, Martin A. & Nijkamp, Joyce, 2001. "Deregulation in retailing: the Dutch experience," Journal of Economics and Business, Elsevier, vol. 53(2-3), pages 225-235.
    26. Busenitz, Lowell W. & Barney, Jay B., 1997. "Differences between entrepreneurs and managers in large organizations: Biases and heuristics in strategic decision-making," Journal of Business Venturing, Elsevier, vol. 12(1), pages 9-30, January.
    27. Dan Lovallo & Colin Camerer, 1999. "Overconfidence and Excess Entry: An Experimental Approach," American Economic Review, American Economic Association, vol. 89(1), pages 306-318, March.
    28. Jens Bonke & Mette Deding & Mette Lausten, 2009. "Time and Money," Journal of Happiness Studies, Springer, vol. 10(2), pages 113-131, April.
    29. Barton H. Hamilton, 2000. "Does Entrepreneurship Pay? An Empirical Analysis of the Returns to Self-Employment," Journal of Political Economy, University of Chicago Press, vol. 108(3), pages 604-631, June.
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    Citations

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    Cited by:

    1. Martin Binder, 2017. "Entrepreneurial Success and Subjective Well-Being: Worries about the Business Explain One's Well-Being Loss from Self-Employment," SOEPpapers on Multidisciplinary Panel Data Research 947, DIW Berlin, The German Socio-Economic Panel (SOEP).
    2. Hans-Jürgen Engelbrecht, 2014. "A general model of the innovation - subjective well-being nexus," Journal of Evolutionary Economics, Springer, vol. 24(2), pages 377-397, April.
    3. Cueto, Begona & Pruneda, Gabriel, 2015. "Job Satisfaction of Wage and Self-Employed workers. Do preferences make a difference?," MPRA Paper 65432, University Library of Munich, Germany.
    4. repec:bpj:erjour:v:7:y:2017:i:3:p:15:n:1 is not listed on IDEAS
    5. Khelil, Nabil, 2016. "The many faces of entrepreneurial failure: Insights from an empirical taxonomy," Journal of Business Venturing, Elsevier, vol. 31(1), pages 72-94.
    6. Martin Binder & Alex Coad, 2016. "How Satisfied are the Self-Employed? A Life Domain View," Journal of Happiness Studies, Springer, vol. 17(4), pages 1409-1433, August.
    7. Aguilar, Alexandra Cortés & García Muñoz, Teresa M. & Moro-Egido, Ana I., 2013. "Heterogeneous self-employment and satisfaction in Latin America," Journal of Economic Psychology, Elsevier, vol. 39(C), pages 44-61.
    8. Ingemar Johansson Sevä & Stig Vinberg & Mikael Nordenmark & Mattias Strandh, 2016. "Subjective well-being among the self-employed in Europe: macroeconomy, gender and immigrant status," Small Business Economics, Springer, vol. 46(2), pages 239-253, February.
    9. repec:kap:sbusec:v:49:y:2017:i:1:d:10.1007_s11187-016-9820-z is not listed on IDEAS
    10. Pakura, Stefanie, 2015. "Unternehmerische Motivation und Wiedergründungsbereitschaft: Eine empirische Untersuchung deutscher Unternehmensneugründungen in der Frühentwicklungsphase," Lüneburger Beiträge zur Gründungsforschung 10, Leuphana University of Lüneburg, Department of Entrepreneurship & Start-up Management.
    11. repec:kap:sbusec:v:49:y:2017:i:4:d:10.1007_s11187-017-9863-9 is not listed on IDEAS
    12. Wim Naudé & José Amorós & Oscar Cristi, 2014. "“Surfeiting, the appetite may sicken”: entrepreneurship and happiness," Small Business Economics, Springer, vol. 42(3), pages 523-540, March.
    13. Begoña Cueto & Gabriel Pruneda, 2017. "Job Satisfaction of Wage and Self-Employed Workers. Do Job Preferences Make a Difference?," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 12(1), pages 103-123, March.
    14. Cortés Aguilar Alexandra & Teresa Garcia-Muñoz & Ana I. Moro Egido, 2013. "Heterogeneous Self-employment and Subjective Well-Being. Evidence from Latin America," ThE Papers 13/05, Department of Economic Theory and Economic History of the University of Granada..

    More about this item

    Keywords

    Satisfaction; Entrepreneurs; Performance; Motivation; J28; L26; M13;

    JEL classification:

    • J28 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Safety; Job Satisfaction; Related Public Policy
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

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