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Financial Objectives and Satisfaction with Life: A Mixed-Method Study in Surf Lifestyle Entrepreneurs

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  • André O’Neill

    (Management Department, Instituto Superior de Gestão, Av. Mal. Craveiro Lopes 2A, 1700-284 Lisbon, Portugal)

  • Alvaro Dias

    (Escola de Ciências Económicas e das Organizações, Universidade Lusófona, Campo Grande, 376, 1749-024 Lisbon, Portugal
    Business Research Unit, Iscte—Instituto Universitário de Lisboa, Av. das Forças Armadas, 1649-026 Lisbon, Portugal)

  • Mafalda Patuleia

    (Escola de Ciências Económicas e das Organizações, Universidade Lusófona, Campo Grande, 376, 1749-024 Lisbon, Portugal
    GOVCOPP, Universidade de Aveiro, Campus Universitário de Santiago, 3810-193 Aveiro, Portugal)

  • Leandro Pereira

    (Business Research Unit, Iscte—Instituto Universitário de Lisboa, Av. das Forças Armadas, 1649-026 Lisbon, Portugal)

Abstract

Tourism lifestyle entrepreneurs (TLEs) have introduced an innovation in business management based on the region, community, environmental sustainability, and extra financial factors. This type of entrepreneur allows the development of regions by attracting investment and presenting innovative products/services and is an important aid to the local economy. Based on the importance of TLEs, this study aims to explore factors influencing satisfaction with life as a key ingredient to attracting surf TLE. For this purpose, priority was given to obtaining primary data through a sequential approach of mixed methods, first with a quantitative study using survey data of 109 surf TLEs, followed by in-depth interviews. The results show that a good contact network and a strong link to a place influence satisfaction with life in a positive way. As a result, the moderating effect of financial objectives on these relationships alerts destination decision-makers about different entrepreneurial approaches regarding surf businessman attraction. This study makes an important contribution by providing empirical evidence regarding the ongoing discussion about financial vs. non-financial objectives for this type of entrepreneur, showing that both are important for their decision-making process. These results provide valuable insights for several industry stakeholders, namely funders (for grant approval), policymakers (alerting that these entrepreneurs should be addressed considering non-financial objectives), and entrepreneurs (alerting to goal definition patterns).

Suggested Citation

  • André O’Neill & Alvaro Dias & Mafalda Patuleia & Leandro Pereira, 2022. "Financial Objectives and Satisfaction with Life: A Mixed-Method Study in Surf Lifestyle Entrepreneurs," Social Sciences, MDPI, vol. 11(12), pages 1-15, November.
    • Handle: RePEc:gam:jscscx:v:11:y:2022:i:12:p:555-:d:987039
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    References listed on IDEAS

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    1. Paul Shrivastava & James Kenelly, 2013. "Sustainability and Place-Based Enterprise," Post-Print hal-01514515, HAL.
    2. Kibler, Ewald & Fink, Matthias & Lang, Richard & Muñoz, Pablo, 2015. "Place attachment and social legitimacy: Revisiting the sustainable entrepreneurship journey," Journal of Business Venturing Insights, Elsevier, vol. 3(C), pages 24-29.
    3. Paul Shrivastava & James Kenelly, 2013. "Sustainability and Place-Based Enterprise," Post-Print hal-01515221, HAL.
    4. Álvaro Dias & Graça M. Silva, 2021. "Willingness to Stay of Tourism Lifestyle Entrepreneurs: A Configurational Perspective," Sustainability, MDPI, vol. 13(24), pages 1-16, December.
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    Cited by:

    1. Miguel Duarte & Álvaro Dias & Bruno Sousa & Leandro Pereira, 2023. "Lifestyle Entrepreneurship as a Vehicle for Leisure and Sustainable Tourism," IJERPH, MDPI, vol. 20(4), pages 1-13, February.
    2. Mariana Antunes & Álvaro Dias & Francisco Gonçalves & Bruno Sousa & Leandro Pereira, 2023. "Measuring Sustainable Tourism Lifestyle Entrepreneurship Orientation to Improve Tourist Experience," Sustainability, MDPI, vol. 15(2), pages 1-14, January.

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