Does entrepreneurial activity contribute to a nation’s happiness?

Conference paper


Bace, E. 2023. Does entrepreneurial activity contribute to a nation’s happiness? Moreira, F. and Jayantilal, S. (ed.) 18th European Conference on Innovation and Entrepreneurship . Porto, Portugal 21 - 22 Sep 2023 Reading, UK Academic Conferences International. pp. 3
TypeConference paper
TitleDoes entrepreneurial activity contribute to a nation’s happiness?
AuthorsBace, E.
Abstract

There has been some examination of the impact of the level of entrepreneurial activity within a country on ‘happiness’ indicators for that country, which ought to be considered as a fundamental question. Happiness in these studies is influenced not only by economic growth, social support and freedom, but also life expectancy, level of corruption, and individuals’ own assessments (World Happiness Report, 2023). Entrepreneurial activity is measured by a wide range of factors including innovation, competitiveness, infrastructure, labour skills, access to capital and openness for business. Naude, Amoros and Christi (2012) found tentative evidence of an inverse U-shape relationship between (opportunity) entrepreneurship and national happiness, concluding that opportunity-motivated entrepreneurship may contribute to a nation’s happiness, but only up to a point. They concluded that the happiness of a nation, based on a sample of 36 countries, cannot be indefinitely increased by boosting the numbers of opportunity entrepreneurs. More recently, Torres and Augusto (2020) found that a combination of conditions is required to achieve high levels of national well-being, including education, governance, and a philanthropic financial system, which potentially can be leveraged by entrepreneurial success. This paper examines indices of entrepreneurial activity across 95 countries over the 2020-2022 period and finds a positive relationship between the level of such activity and happy life evaluation, using data from the World Happiness Report (2023) and the Entrepreneurship Index (2021). The relationship between happiness and wealth (as measured by GDP per capita), is significant but marginal. This finding has implications for government policy and further research. It reinforces the suggestion that not everyone should become an entrepreneur, and innovation is not always progress. It also points to the need for a broader focus on implications of entrepreneurship for human development, which is likely to be rewarding from scientific, societal and policy-making perspectives.

Keywordsentrepreneurship; happiness; wellbeing; wealth; innovation
Sustainable Development Goals17 Partnerships for the goals
Middlesex University ThemeCreativity, Culture & Enterprise
Research GroupCentre for Enterprise, Environment and Development Research (CEEDR)
LanguageEnglish
Conference18th European Conference on Innovation and Entrepreneurship
Page range3
Proceedings TitleConference Materials of the 18th European Conference on Innovation and Entrepreneurship hosted by Universidade Portucalense Porto, Portugal 21-22 September 2023
EditorsMoreira, F. and Jayantilal, S.
ISSN2049-1050
Electronic2049-1069
ISBN
Hardcover9781914587825
Electronic9781914587832
PublisherAcademic Conferences International
Place of publicationReading, UK
Publication dates
Print18 Sep 2023
Publication process dates
Accepted31 Aug 2023
Deposited24 Nov 2023
Output statusPublished
Publisher's version
Copyright Statement

Copyright the authors, 2023. All Rights Reserved.
No reproduction, copy or transmission may be made without written permission from the individual authors.

Web address (URL) of conference proceedingshttps://papers.academic-conferences.org/index.php/ecie/issue/view/24/28
Permalink -

https://repository.mdx.ac.uk/item/v65x5

Download files


Publisher's version
  • 66
    total views
  • 8
    total downloads
  • 7
    views this month
  • 0
    downloads this month

Export as

Related outputs

Basel III compliance with securities financing transactions
Bace, E. 2024. Basel III compliance with securities financing transactions. Professional Risk Managers' International Association.
Central bank responses to coronavirus pandemic in Europe
Bace, E. 2023. Central bank responses to coronavirus pandemic in Europe. in: Pandey, A., Jain, A. and Samartha, M. (ed.) COVID-19 Pandemic Challenges and Innovations Bhopal, India Innovare Academic Sciences Pvt Ltd. pp. 118-128
Alcoa of Australia Ltd.
Bace, E. 1989. Alcoa of Australia Ltd. Credit Week International. 7 (6), p. 17.
World’s first sovereign war bonds – issued by Mediterranean state of Venice
Bace, E. 2023. World’s first sovereign war bonds – issued by Mediterranean state of Venice. 25th Annual International Congress of Mediterrranean Studies Association. Masaryk University, Brno, Czech Republic Mediterranean Studies Association.
Tokyo Electric Power Co. Inc.
Bace, E. 1991. Tokyo Electric Power Co. Inc. Credit Week International. 9 (12), pp. 39-41.
Shell Finance (Netherlands) B.V.
Bace, E. 1990. Shell Finance (Netherlands) B.V. Credit Week International. 9 (4), pp. 34-35.
Green bonds in the transport sector
Bace, E. and Singh, S. 2023. Green bonds in the transport sector. 43rd EBES Conference. Madrid, Spain 12 - 14 Apr 2023 Eurasia Business and Economics Society (EBES). pp. 63-63
Korea Telecom
Bace, E. 1993. Korea Telecom. Credit Week International. 11 (1), pp. 61-63.
Japanese electric utilities face limits to growth
Bace, E. and Connell, T. 1992. Japanese electric utilities face limits to growth. Credit Week International. 10 (4), pp. 39-43.
JVC Corp
Bace, E. 1989. JVC Corp. Credit Week International. 7 (4), pp. 40-41.
Climate change and bank risk management
Bace, E. 2023. Climate change and bank risk management. Third Annual Conference. Valencia, Spain 26 - 28 Jul 2023 Academy of Sustainable Finance, Accounting, Accountability & Governance.
Innovative financing for a sustainable shipping industry
Bace, E. 2022. Innovative financing for a sustainable shipping industry. 17th European Conference on Innovation and Entrepreneurship. Pafos, Cyprus, Neapolis University 15 - 16 Sep 2022 Adacemic Conferences International United. pp. 97-98
Local family involvement in the Roman fictile industry of Central Etruria
Bace, E. 1981. Local family involvement in the Roman fictile industry of Central Etruria. Eighty-Second General Meeting of the Archaeological Institute of America. New Orleans, LA, USA 27 - 30 Dec 1980 American Journal of Archaeology. pp. 184-185
Pagets and Westmacotts in the Mediterranean
Bace, E. and Liu, Y. 2022. Pagets and Westmacotts in the Mediterranean. Mediterranean Studies Association 24th Annual International Congress. Universidade Nova de Lisboa, Lisbon, Portugal 25 - 28 May 2022 Mediterranean Studies Association.
Green bonds in the Gulf
Bace, E. 2022. Green bonds in the Gulf. Sixth International Conference on Emerging Research Paradigms in Business and Social Sciences (ERPBSS 2022). Middlesex University Dubai, Virtual 24 - 26 Feb 2022
Challenging times for insurance, banking and financial supervision in Saudi Arabia
Orlando, G. and Bace, E. 2021. Challenging times for insurance, banking and financial supervision in Saudi Arabia. Administrative Sciences. 11 (3), pp. 1-28. https://doi.org/10.3390/adminsci11030062
Excess and attitude
Bace, E. 2013. Excess and attitude. Keats House, London, UK 24 May - 02 Jun 2012
Foreword to Bank Asset Liability Management Best Practice
Bace, E. 2021. Foreword to Bank Asset Liability Management Best Practice. in: Bardaeva, P. (ed.) Bank Asset Liability Management Best Practice: Yesterday, Today and Tomorrow Osnabrueck De Gruyter. pp. IX-X
Green finance for entrepreneurs: current perspectives and conceptual model
Moon, C. and Bace, E. 2020. Green finance for entrepreneurs: current perspectives and conceptual model. ECIE 2020. A Virtual Conference Supported By Università degli Studi Internazionali di Roma (UNINT) 17 - 18 Sep 2020 Reading, UK Academic Conferences and Publishing International (ACPI). pp. 412-418 https://doi.org/10.34190/EIE.20.090
Regulation’s influence on EU banking efficiency: an evaluation post crisis
Bace, E. and Ferreira, A. 2020. Regulation’s influence on EU banking efficiency: an evaluation post crisis. Cogent Economics and Finance. 8 (1), pp. 1-21. https://doi.org/10.1080/23322039.2020.1838735
Strategic human resources and governance in banking
Bace, E. 2018. Strategic human resources and governance in banking. MHRO 18 International HR Conference. Skopje, Macedonia 04 - 05 Oct 2018 Ss. Cyril and Methodius University - Faculty of Economics. pp. 9-9
How to succeed in CFA level 1 exams [Guest comment]
Bace, E. 2010. How to succeed in CFA level 1 exams [Guest comment]. London, UK eFinancialCareers, a DHI service.
For and against emerging markets
Bace, E. 2010. For and against emerging markets. Financial Times.
Circle of Friends: the massive federal crackdown on insider trading---and why the markets always work against the little guy [Book Review]
Bace, E. 2013. Circle of Friends: the massive federal crackdown on insider trading---and why the markets always work against the little guy [Book Review]. New York Journal of Books.
The Alpha Masters: Unlocking the Genius of the World’s Top Hedge Funds [Book Review]
Bace, E. 2013. The Alpha Masters: Unlocking the Genius of the World’s Top Hedge Funds [Book Review]. New York Journal of Books.
Mitigating bank liquidity risk in Europe’s emerging markets during the crisis
Bace, E. 2010. Mitigating bank liquidity risk in Europe’s emerging markets during the crisis. PRMIA Liquidity Series. Bucharest, Romania 15 Mar 2010
Sustainable banking: the pivotal role of liquidity management
Bace, E. 2020. Sustainable banking: the pivotal role of liquidity management. Fifth Annual Conference on Emerging Research Paradigms in Business and Social Science (ERPBSS-2020). Middlesex University Dubai 14 - 16 Jan 2020
Basel III regulatory framework for financial institutions [Blog post]
Bace, E. 2019. Basel III regulatory framework for financial institutions [Blog post]. Bloomberg London Bloomberg.
Credit risk for financial institutions: what you should know [Blog post]
Bace, E. 2018. Credit risk for financial institutions: what you should know [Blog post]. Bloomberg Exam Prep - CFA Program.
Behavioral finance and implications for regulation: China’s stock market
Bace, E. 2019. Behavioral finance and implications for regulation: China’s stock market. Human Science Research Conferences: IHSSC 2019: International Humanities and Social Science Conference. London, UK 21 - 22 Aug 2019
Rating agencies: reputation restored?
Bace, E. 2015. Rating agencies: reputation restored? The Global Treasurer.
Balance sheet risk management in an ever more challenging context
Bace, E. 2017. Balance sheet risk management in an ever more challenging context. Il Congreso Latinoamericano de Riesgos Financieros. Lima, Peru 16 - 18 Aug 2017 Felaban.
Vietnamese commercial banks and corporate governance
Bace, E. and Nguyen, T. 2019. Vietnamese commercial banks and corporate governance. GATR Journal of Finance and Banking Review. 4 (2), pp. 73-81. https://doi.org/10.35609/jfbr.2019.4.2(4)
Canadian commercial banks and corporate governance: 2006-2018
Nguyen, T. and Bace, E. 2019. Canadian commercial banks and corporate governance: 2006-2018. Applied Research International Conference on Multidisciplinary Studies & Education: ARICME 2019. Baku, Azerbaijan 01 - 03 Apr 2019 Applied Research International Conferences. pp. 5-21
Strategic human resources and corporate governance in banking
Bace, E. 2018. Strategic human resources and corporate governance in banking. Journal of Human Resource Management. 21 (2), pp. 1-7.
Moorad Choudhry's Anthology [Book review]
Bace, E. 2018. Moorad Choudhry's Anthology [Book review]. The European Financial Review. June (2018), pp. 67-68.
Credit risk and ALM
Bace, E. 2018. Credit risk and ALM. ALCO Magazine.
Asset liability management and credit risk
Bace, E. 2018. Asset liability management and credit risk. 38th International Academic Conference of IISES. Prague, Czech Republic 11 - 14 Jun 2018 IISES. pp. 29 https://doi.org/10.20472/IAC.2018.038.006
Corporate governance and performance of Saudi banks: 2010-2015
Bace, E. 2017. Corporate governance and performance of Saudi banks: 2010-2015. 1st International Conference on Advanced Research (ICAR-2017). The Domain Hotel, Manama, Kingdom of Bahrain 25 - 26 Jan 2017 Asia Pacific Institute of Advanced Research (APIAR). pp. 63-63
Investing in your education
Bace, E. 2012. Investing in your education. CFA Magazine. 23 (5), pp. 11-11.
Governance, conduct costs and equity performance in financial services
Bace, E. 2014. Governance, conduct costs and equity performance in financial services. CISI Review of Financial Markets.
Alpha Masters [Book review]
Bace, E. 2012. Alpha Masters [Book review]. Financial Adviser.
Preparing for new education prospects
Bace, E. 2011. Preparing for new education prospects. CFA Magazine. 22 (3), p. 55.
Stock returns and leverage: analysis of the Dow Jones Industrial Average, 2000-2015
Bace, E. 2016. Stock returns and leverage: analysis of the Dow Jones Industrial Average, 2000-2015. IISES 23rd International Academic Conference. Venice, Italy 27 - 30 Apr 2016 International Institute of Social and Economic Sciences. https://doi.org/10.20472/IAC.2016.023.017
Meeting the challenges of financial education
Bace, E. 2010. Meeting the challenges of financial education. Charlottesville, VA CFA Institute. https://doi.org/10.2469/cfm.v21.n6.5
Incorporating group coursework as an assessment component into online and traditional university programmes
Bace, E. 2016. Incorporating group coursework as an assessment component into online and traditional university programmes. 1st International Conference on Advanced Business and Social Sciences. Bali, Indonesia 28 - 29 Jan 2016 APIAR. pp. 367-371
Approaches to embedding ethics in finance and finance degree programmes
Bace, E. 2014. Approaches to embedding ethics in finance and finance degree programmes. Social Science Research Network. https://doi.org/10.2139/ssrn.2492186
Cost of capital, returns and leverage: empirical evidence from the S&P 500
Bace, E. 2016. Cost of capital, returns and leverage: empirical evidence from the S&P 500. 22nd International Academic Conference of IISES. Lisbon, Portugal 22 - 25 Mar 2016 IISES. pp. 30 https://doi.org/10.20472/IAC.2016.022.009
Conduct costs, governance and returns: evidence of large banks
Bace, E. 2015. Conduct costs, governance and returns: evidence of large banks. Journal of Professional Scholarship in Banking and Finance. 3 (1), pp. 4-10.
Bank profitability: liquidity, capital and asset quality
Bace, E. 2016. Bank profitability: liquidity, capital and asset quality. Henry Stewart Publications.
Osaka Gas Company Ltd.
Bace, E. 1991. Osaka Gas Company Ltd. Credit Week International. 9 (11), pp. 88-89.
Ricoh Co. Ltd.
Bace, E. 1989. Ricoh Co. Ltd. Credit Week International. 7 (6), pp. 44-45.