Does entrepreneurship hold the key? Steering through income inequality towards happiness

Abstract

In accordance with the theoretical underpinning that subjective well‐being (SWB) is influenced by a multifaceted array of contextual determinants, this study aims to dissect these intricate connections. Utilizing national business system (NBS) framework and implementing fuzzy‐set qualitative comparative analysis (fsQCA), we scrutinize the collective impact of entrepreneurial endeavors, institutional structures, and income equality on SWB. Through this analysis, we aimed to uncover the equifinal ways in which these elements synergistically contribute to SWB. To be more precise, our study seeks to explore how environmental conditions harness the advantages of both social and commercial entrepreneurial initiatives to alleviate the negative impacts of income inequality, thereby fostering SWB. In line with this perspective, the overarching finding of our study underscores the significance of institutional coherence in fostering the ability of entrepreneurial activities to generate SWB.