Abstract
Business and investment in any area requires the provision of an appropriate and secure institutional environment. One of the factors that helps to expand businesses and increase corporate profits is the right business environment. Avoiding complicated administrative bureaucracy, lending and credit, proper international trade, and the ease of obtaining the necessary permits will be helpful in this regard. On the other hand, businesses can perform better in a happy and stress-free environment. Happiness is an emotional state characterized by feelings of joy, satisfaction, contentment, and fulfillment. While happiness has many different definitions, it is often described as involving positive emotions and life satisfaction. The purpose of the present study is to investigate the relationship between the business environment and happiness indicators with corporate profitability. For this purpose, 175 top companies in the world from 2013 to 2018 that were profitable among the top 500 companies each year were selected as the statistical population. World Happiness annual report, Doing Business annual reports, and Fortune site were used to collect the data. Also the data analysis was done according to the panel data method using Stata software. The results shows that in general, there is a positive relationship between business environment and happiness indicators corporate profitability.
Highlights
IntroductionNoone is concerned in a genuine sense about the level of gross national product last year or about year's exchange rate
Research Model Analysis The purpose of the present study is to investigate the relationship between the business environment and happiness indicators with corporate profitability
Ruigrok and Wagner (2003) found that there was a significant relationship between foreign trade and corporate profitability
Summary
Noone is concerned in a genuine sense about the level of gross national product last year or about year's exchange rate. People have no innate interest in the money supply, inflation, growth, inequality, unemployment, and the rest. The stolid greyness of the business pages of our newspapers seems to mirror the fact that economic numbers matter only indirectly. The relevance of economic performance is that it may be a means to an end. That end is not the consumption of beef burgers, nor the accumulation of television sets, nor the vanquishing of some high level of interest rates, but rather the enrichment of mankind's feeling of well-being. Economic things matter only in so far as they make people happier
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