This research examines direct investments in Japan by Taiwanese semiconductor companies over the past two decades （2004-2023） and their impact on operational efficiency. We first utilize Data Envelopment Analysis （DEA） to estimate inefficiency scores of semiconductor companies, and then apply truncated regression to assess how investing in Japan affects these bi- as-corrected scores. Our findings indicate that companies investing in Japan generally show higher operational efficiency than non-investors. However, we find no evidence that these in- vesting companies gain extra efficiency from their supply chain activities in Japan.

This study introduces the concept of “wellbeing-driven entrepreneurship,” which is defined as a form of entrepreneurship that does not prioritize economic rationality but instead places a strong emphasis on the wellbeing of individual entrepreneurs. The study then proceeds to examine the characteristics and impact of this concept through the lens of two case studies, exploring the concept in an exploratory manner. The case studies revealed the significance of location in wellbeing-driven entrepreneurship and the manner of initiating a business that integrates hedonic and eudaimonic well-being. Furthermore, the introduction of “wellbeing-driven entrepreneurship,” a concept that does not prioritize unnecessarily rapid growth, provides a foundation for discussing the creation of genuinely affluent lifestyles and communities, diverging from the conventional discourse on entrepreneurship that emphasizes rapid growth.