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Monetary Intelligence: Money Attitudes—Unethical Intentions, Intrinsic and Extrinsic Job Satisfaction, and Coping Strategies Across Public and Private Sectors in Macedonia

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Abstract

Research suggests that attitudes guide individuals’ thinking and actions. In this study, we explore the monetary intelligence (MI) construct and investigate the relationships between a formative model of money attitudes involving affective (MI-A), behavioral (MI-B), and cognitive (MI-C) components and several sets of outcome variables—unethical intentions, intrinsic and extrinsic job satisfaction, and coping strategies. Based on 515 managers in the Republic of Macedonia, we test our model for the whole sample and also cross sector (public vs. private) and gender. Managers’ negative stewardship behavior (MI-B) and positive cognitive meaning of money (MI-C) define MI which, in turn, is related to unethical intentions (corruption, theft, and resource abuse). Positive cognition in the public sector and poor stewardship behavior in the private sector contribute to unethical intentions, respectively. Good stewards (MI-B) have higher intrinsic and lower extrinsic job satisfaction, those in the private sector, in particular. Affective motive (MI-A) and stewardship behavior are related to their stronger “approach” coping strategies and weaker “avoidance” coping strategies. Affective motive and stewardship behavior contribute to coping responses for managers in the public and private sectors, respectively. Further, the relationship between stewardship behavior and coping mechanisms exists for females, but not for males. We demonstrate that MI (money smart), a type of social intelligence, allows individuals to monitor their own emotions, behaviors, and cognitions and guides their thinking and actions.

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Notes

  1. “Those who want to get rich are falling into temptation and a trap and into many foolish and harmful desires, which plunge them into ruin and destruction. For the love of money is the root of all evils” (1 Timothy 6: 9–10).

  2. “Amen, I say to you, whatever you did for one of these least brothers of mine, you did for me” (Matthew 25: 40).

  3. “To anyone who has, more will be given and he will grow rich; from anyone who has not, even what he has will be taken away” (Matthew 13: 12).

  4. “See how a person is justified by works and not by faith alone” (James 2: 24). “In all labor there is profit, but mere talk tends only to penury” (Proverbs 14: 23).

  5. “But store up treasures in heaven, where neither moths nor decay destroy, nor thieves break in and steal” (Matthew 6: 20).

  6. The Parable of the Talents: 21 “His master said to him, ‘Well done, good and faithful servant. Since you were faithful in small matters, I will give you great responsibilities. Come, share your mater’s joy’” (Matthew 25: 14–30).

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Acknowledgment

The authors would like to thank the Ministry of Science and Education of the Republic of Macedonia for the financial support of this research project, and Prof. Rudolf Moos for his constructive comments and suggestions on an earlier draft of this paper. The content represents the research efforts of the authors and does not represent the views of the Ministry of Science and Education of Republic of Macedonia.

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  1. Institute of Psychology, Faculty of Philosophy, Ss. Cyril and Methodius University, P.O. Box 567, Bul. Krste Misirkov, bb, 1000, Skopje, Macedonia

    Elisaveta Gjorgji Sardžoska

  2. Department of Management and Marketing, Jennings A. Jones College of Business, Middle Tennessee State University, Murfreesboro, TN, 37132, USA

    Thomas Li-Ping Tang

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  1. Elisaveta Gjorgji Sardžoska
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Sardžoska, E.G., Tang, T.LP. Monetary Intelligence: Money Attitudes—Unethical Intentions, Intrinsic and Extrinsic Job Satisfaction, and Coping Strategies Across Public and Private Sectors in Macedonia. J Bus Ethics 130, 93–115 (2015). https://doi.org/10.1007/s10551-014-2197-5

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