51. Why Do Birds of a Feather Flock Together? Homophily and Well-Being Among Entrepreneurs and Employees.
- Author
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Silva, Barbara Gabrielle and Gish, J. Jeffrey
- Abstract
Well-being is one of the most paradoxical outcomes in the entrepreneurship literature. Self-employment can be seen as rewarding and beneficial to well-being, but at the same time highly stressful and detrimental to one's well-being. Therefore, identifying factors that impact the well-being of entrepreneurs and circumstances in which entrepreneurs exhibit higher well-being compared to employees is highly important. The present study examines the moderating effect of homophily preferences (status homophily, value homophily, and overall homophily) in the entrepreneurship--well-being relationship. Data on homophily preferences and psychological well-being of 1,532 individuals were obtained from the National Survey of Midlife Development in the United States (MIDUS 3) collected from 2013 to 2014. A Latent Profile Analysis (LPA) was performed followed by an analysis of covariance to investigate whether entrepreneurship (self-employment vs. wage-earning employment) combines with profiles of preference for homophily (status homophily, value homophily, and overall homophily) to explain well-being outcomes. It was found that entrepreneurs with status and value homophily preferences exhibit greater well-being than employees, demonstrating that they seek to compensate for the uncertainty in their workplace environment by engaging in less uncertain personal relationships based on characteristics they value the most. [ABSTRACT FROM AUTHOR]
- Published
- 2023
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