Values and subjective well-being of European entrepreneurs: a configurational analysis across technological levels

Human values (HV) and subjective well-being (SWB) are critical factors influencing firm performance and entrepreneurial success. While prior research has examined HV and SWB independently among entrepreneurs, the relationship between these factors remains underexplored, particularly across sectors with varying levels of technological intensity. Drawing on Schwartz’s Theory of Basic Human Values, this study investigates how specific value configurations relate to entrepreneurs’ SWB in low-, medium-, and high-technology sectors. Using data from 527 entrepreneurs across 27 European countries and applying fuzzy Qualitative Comparative Analysis (fsQCA), we identify distinct, sector-specific patterns in the relationship between HV configurations and high levels of SWB. Our findings reveal that entrepreneurs in high-technology sectors exhibit a stronger association between self-focused values (e.g., hedonism) and SWB, whereas those in low-technology sectors show a stronger link between growth-oriented values (e.g., self-transcendence) and SWB. Additionally, entrepreneurs in low- and medium-technology sectors achieve high SWB through more diverse value combinations than their high-technology counterparts. These findings advance Schwartz’s theory by highlighting the importance of aligning values with sectoral contexts to enhance entrepreneurial well-being. The results provide a foundation for developing targeted, sector-specific interventions to improve entrepreneurial satisfaction and foster success.