Ningyu Tang, Jingqiu Chen, Martina Trontelj, Caroline Urbain, Theresa Tang, Allen Stembridge, Petar Skobic, Elisaveta Sardžoska, Marko Polic, Horia Pitariu, Ruja Pholsward, Francisco Pereira, Mehmet Özbek, AAhad Osman-Gani, Johnsto Osagie, Anthony Nnedum, Richard Mpoyi, Alice Moreira, Anna Manganelli, Eva Malovics, Jian Liang, Kilsun Kim, Ali Kazem, Chin-Kang Jen, Abdul Ibrahim, Consuelo Garcia de la Torre, Linzhi Du, Rosario Correia, Bor-Shiuan Cheng, Luigina Canova, Mark Borg, Abdulgawi Al-Zubaidi, Michael Allen, Adebowale Akande, Peter Vlerick, Roberto Luna-Arocas, Brigitte Charles-Pauvers, Randy Chiu, Ilya Garber, Fernando Arias-Galicia, Thompson Teo, Vivien Lim, Mahfooz Ansari, Toto Sutarso & Thomas Tang
Journal of Business Ethics 148 (4):893-917 (2018)
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Abstract |
Monetary Intelligence theory asserts that individuals apply their money attitude to frame critical concerns in the context and strategically select certain options to achieve financial goals and ultimate happiness. This study explores the bright side of Monetary Intelligence and behavioral economics, frames money attitude in the context of pay and life satisfaction, and controls money at the macro-level and micro-level. We theorize: Managers with low love of money motive but high stewardship behavior will have high subjective well-being: pay satisfaction and quality of life. Data collected from 6586 managers in 32 cultures across six continents support our theory. Interestingly, GDP per capita is related to life satisfaction, but not to pay satisfaction. Individual income is related to both life and pay satisfaction. Neither GDP nor income is related to Happiness. Our theoretical model across three GDP groups offers new discoveries: In high GDP entities, “high income” not only reduces aspirations—“Rich, Motivator, and Power,” but also promotes stewardship behavior—“Budget, Give/Donate, and Contribute” and appreciation of “Achievement.” After controlling income, we demonstrate the bright side of Monetary Intelligence: Low love of money motive but high stewardship behavior define Monetary Intelligence. “Good apples enjoy good quality of life in good barrels.” This notion adds another explanation to managers’ low magnitude of dishonesty in entities with high Corruption Perceptions Index. In low GDP entities, high income is related to poor Budgeting skills and escalated Happiness. These managers experience equal satisfaction with pay and life. We add a new vocabulary to the conversation of monetary intelligence, income, GDP, happiness, subjective well-being, good and bad apples and barrels, corruption, and behavioral ethics.
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DOI | 10.1007/s10551-015-2980-y |
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References found in this work BETA
The Protestant Ethic and the Spirit of Capitalism.Max Weber, Talcott Parsons & R. H. Tawney - 1930 - Charles Scribnerr's Sons.
Intelligence Vs. Wisdom: The Love of Money, Machiavellianism, and Unethical Behavior Across College Major and Gender.Thomas Li-Ping Tang & Yuh-Jia Chen - 2008 - Journal of Business Ethics 82 (1):1-26.
Income, Money Ethic, Pay Satisfaction, Commitment, and Unethical Behavior: Is the Love of Money the Root of Evil for Hong Kong Employees? [REVIEW]Thomas Li-Ping Tang & Randy K. Chiu - 2003 - Journal of Business Ethics 46 (1):13 - 30.
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Citations of this work BETA
Monetary Intelligence and Behavioral Economics: The Enron Effect—Love of Money, Corporate Ethical Values, Corruption Perceptions Index , and Dishonesty Across 31 Geopolitical Entities.Modupe Adewuyi, Bolanle Adetoun, Ningyu Tang, Jingqiu Chen, Anna Manganelli, Luigina Canova, Martina Trontelj, Caroline Urbain, Theresa Tang, Allen Stembridge, Petar Skobic, Elisaveta Sardžoska, Marko Polic, Horia Pitariu, Ruja Pholsward, Francisco Pereira, Mehmet Özbek, AAhad Osman-Gani, Johnsto Osagie, Anthony Nnedum, Richard Mpoyi, Alice Moreira, Eva Malovics, Jian Liang, Kilsun Kim, Ali Kazem, Chin-Kang Jen, Abdul Ibrahim, Consuelo Garcia de la Torre, Linzhi Du, Rosario Correia, Bor-Shiuan Cheng, Mark Borg, Abdulgawi Al-Zubaidi, Michael Allen, Adebowale Akande, Peter Vlerick, Roberto Luna-Arocas, Brigitte Charles-Pauvers, Randy Chiu, Ilya Garber, Fernando Arias-Galicia, Thompson Teo, Vivien Lim, Mahfooz Ansari, Toto Sutarso & Thomas Tang - 2018 - Journal of Business Ethics 148 (4):919-937.
Mindfulness Reduces Avaricious Monetary Attitudes and Enhances Ethical Consumer Beliefs: Mindfulness Training, Timing, and Practicing Matter.Elodie Gentina, Carole Daniel & Thomas Li-Ping Tang - 2020 - Journal of Business Ethics 173 (2):301-323.
Do Parents and Peers Influence Adolescents’ Monetary Intelligence and Consumer Ethics? French and Chinese Adolescents and Behavioral Economics.Elodie Gentina, Thomas Li-Ping Tang & Qinxuan Gu - 2018 - Journal of Business Ethics 151 (1):115-140.
Religious Beliefs Inspire Sustainable HOPE (Help Ourselves Protect the Environment): Culture, Religion, Dogma, and Liturgy—The Matthew Effect in Religious Social Responsibility.Yalin Mo, Junyu Zhao & Thomas Li-Ping Tang - forthcoming - Journal of Business Ethics:1-21.
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