What Are the Recipes of an Entrepreneur’s Subjective Well-Being? A Fuzzy-Set Approach for China

Entrepreneurs face more pressure and challenges than ordinary workers, which has a serious impact on their physical and mental health. Therefore, the research focus has gradually shifted from objective indicators of entrepreneurial performance to exploration of entrepreneurs’ subjective well-being. However, previous studies were often limited to a net effect analysis of a single dimension under symmetric thinking in quantitative research. Therefore, this study uses fuzzy-set qualitative comparative analysis (fsQCA) to analyze the configuration path of entrepreneurs’ physical and mental health at the individual level, social capital at the collective level, and subjective well-being from the perspective of configuration. The sample was of 279 effective entrepreneurs from the 2017 China General Social Survey (CGSS). Four types of entrepreneurs were found to improve their high well-being profiles: optimistic efficiency-driven, trust efficiency-driven, strong psychology-driven, and weak relationship-driven. Research shows that the interaction between physical and mental health and social capital jointly affects the subjective well-being of entrepreneurs. The research findings reinforce the need for attention to the physical and mental health of entrepreneurs, which are conducive to their active participation in social life. Additionally, establishing weak relationship-oriented interpersonal networks and accumulating social resources to further achieve higher subjective well-being is required.