The Effects of Entrepreneurs’ Optimism and Mindfulness on Psychological Well-Being

Purpose – The purpose of this study was to examine the impact of optimism on emotional exhaustion and psychological well-being of entrepreneurs, and the impact of mindfulness on emotional exhaustion and psychological well-being of entrepreneurs and analyzed the mediating effects of emotional exhaustion on relationships between these variables. Design/Methodology/Approach – Data were collected through a questionnaire for 156 CEOs of start-up companies doing business in Seoul and Gyeonggi-do to examine the relationship between research variables. Findings – The findings of this study are as follows. First, mindfulness has been shown to have positive effects on emotional exhaustion, autonomy, environmental mastery, and purpose in life. Second, optimism has been shown to have a partly positive effect on psychological well-being. Third, mindfulness has been shown to have positive effects on psychological well-being. Fourth, emotional exhaustion has been shown to have negative effects on autonomy, environmental mastery, and purpose in life. Fifth, emotional exhaustion has been shown to meditate the relationship between mindfulness and psychological well-being. Research Implications – Results of this study suggested theoretical implications as follows. First, this study has theoretical significance in that empirical analysis found that optimism raises the level of environmental mastery and purpose in life. Second, the findings are theoretical in that empirical analysis revealed that the emotional exhaustion of entrepreneurs had a negative impact on autonomy, environmental mastery, and purpose in life. Finally, the findings are theoretical in that they suggest that emotional exhaustion is an important variable that mediates the relationship between mindfulness and psychological well-being. Results of this study suggested practical implications as follows. First, the results of this study suggest practical implications that it is important to devise a plan to increase the level of mindfulness of entrepreneurs. Second, the results of this study suggest practical implications that it is important for entrepreneurs to make efforts to increase the level of optimism. Finally, the results of this study suggest practical implications that various interests should be paid to prevent entrepreneurs from burning out emotionally.