An Empirical Study On The Impact Of Entrepreneurial Decision-Making On Subjective Well-Being

As an important way to promote social and economic development and progress,entrepreneurship is of great significance to ease the employment situation and promote full employment.How to encourage people to start businesses with high quality has become a highly concerned topic for policy makers and scholars.At the same time,with the transformation and upgrading of "mass entrepreneurship and innovation",entrepreneurs no longer choose survival oriented entrepreneurship just to make a living,but change to value oriented entrepreneurship pursuing the realization of self value,and pay more attention to the impact of entrepreneurship on their subjective well-being.Therefore,it is of great significance to study the impact of entrepreneurial decision-making on individual subjective well-being to understand the internal needs of entrepreneurs,help decision-makers formulate policies to stimulate high-quality entrepreneurial activities,and effectively improve the well-being of entrepreneurs.Although the academia has conducted some research on entrepreneurial activities,the research on the role of entrepreneurial decision-making on individual subjective well-being in China is still not deep enough.At the same time,because the research on entrepreneurship and well-being involves many disciplinary foundations,and the internal knowledge is complex,the existing research has problems such as unclear knowledge structure and insufficient refinement of core issues,there are few research specifically aimed at entrepreneurs’ well-being,and there is a lack of in-depth exploration on the path and mechanism of entrepreneurial activities affecting individual subjective well-being.This paper attempts to explore the entrepreneurial decision-making mechanism and path of entrepreneurial groups in China by studying the impact of entrepreneurial decision-making on individual subjective well-being.This will help enrich the existing research on entrepreneurship in China,and provide policy suggestions and ideas for promoting the establishment of an entrepreneurial friendly society and improving the well-being of entrepreneurs.Based on self determination theory,role theory and relative deprivation theory,this paper uses the data related to entrepreneurship from the 2018 China Family Tracking Survey(CFPS)to make an empirical analysis of the relationship between entrepreneurial decision-making and subjective well-being.The research found that:(1)regarding the impact of entrepreneurial decision-making on subjective well-being,entrepreneurial decision-making can improve job satisfaction and emotional balance,but will reduce life satisfaction;(2)There are differences in the impact of entrepreneurial decision-making on subjective well-being among groups with different characteristics,specifically in gender,household registration,years of education and marital status;(3)As for the impact path of work family conflict on entrepreneurial decision-making and subjective well-being,entrepreneurial decision-making aggravates work family conflict and thus reduces life satisfaction.At the same time,entrepreneurial decision-making can improve job satisfaction and reduce depression by increasing work income;(4)After using the tool variable method to deal with endogenous problems,the regression results are still significant,confirming the impact of entrepreneurial decision-making on subjective well-being.