Subjective Well-Being and Academic Success of First Year University Students: A Seemingly Unrelated Bivariate Probit Analysis

Abstract

The aim of this study is to examine the association between subjective well-being (SWB) and academic success of first year university students. A questionnaire is used to obtain data relating to socio–demographic and family characteristics. The participants are also asked to complete the Positive and Negative Affect Schedule (PANAS) and Satisfaction with Life Scale (SWLS) to assess their subjective well-being and University Integration and Commitment Questionnaire (UICQ) to measure the level of student integration to university. Previous empirical studies generally employ a univariate approach and suggest that academic success is positively related to subjective well-being. However academic success and subjective well-being may be interdependent. Accordingly, this study employs a seemingly unrelated bivariate probit model to jointly estimate the factors that influence both academic success and subjective well-being. Empirical analysis reveals that there is a correlation between academic performance and subjective well-being, indicating that previous single equation models might be misspecified. Moreover, academic and social integration, institutional fit and commitment are among the factors that foster academic success, whereas income and institutional fit and commitment enhance subjective well-being.