Fortune favors the happy mind in the right place: individual and contextual drivers of serendipity in entrepreneurship
DOI:
https://doi.org/10.7433/s129.2026.02Keywords:
serendipity, happiness, entrepreneurship, self-determination theory, planned luck, high-income countriesAbstract
Frame of the research. Entrepreneurs often experience serendipity, yet the individual-level conditions that foster such occurrences remain underexplored. Drawing on self-determination theory (SDT), this study situates happiness and environmental context as key antecedents of entrepreneurial serendipity.
Purpose of the paper. The purpose of this paper is to empirically examine the relationship between entrepreneurs’ happiness and serendipity and to assess how contextual factors—specifically the intensity of third places and walking infrastructure—moderate this association.
Methodology. A survey of 609 entrepreneurs across high-income countries provides the empirical basis for regression analyses. Robustness checks using patent registrations further validate the findings.
Results. The findings indicate that happiness is positively associated with serendipity. Moreover, the intensity of third places and the quality of walking infrastructure positively strengthen this relationship.
Research limitations. The cross-sectional design limits causal inference, and self-reported data may introduce bias. Perceived measures of environmental factors could differ from objective conditions, and cultural variations in happiness and serendipity require further examination.
Managerial implications. Policymakers and ecosystem leaders could consider enhancing third places and walking infrastructure as part of broader efforts to create environments in which entrepreneurial talent is more likely to thrive and remain. Entrepreneurs should prioritize well-being and seek environments conducive to social interaction and reflection.
Originality of the paper. This study integrates psychological and spatial perspectives to explain entrepreneurial serendipity. By linking SDT to serendipity and emphasizing environmental influences, it extends research on well-being and entrepreneurial serendipity.
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