Happiness is a comprehensive social capital and has active impact on economy subject decision and behavior. The empirical analysis by using China’s A-share listed companies data shows that regional happiness has significant boosting effect on enterprise investment, the higher the regional happiness level is, the higher the investment level in this region is. Compared with private enterprises, the effect of regional happiness on boosting state-owned enterprises investment is more obvious. The positive influence of regional happiness on private enterprise investment is weakening with the rising of marketization extent but this negative adjustment role is not significant in the state-owned enterprises. Thus, each government should actively raise happiness level of its residents and further effectively promote the development of high-quality of regional economy.