Money ethic endorsement, self-reported income, and life satisfaction: University faculty in the US and Spain

Personnel Review

Volumn 32, Issue 6, 2003, Pages

  Tang, Thomas Li Ping ^a   Luna Arocas, Roberto ^a,b   Whiteside, Harold D ^a  

^a MIDDLE TENNESSEE STATE UNIVERSITY   (United States)

^b UNIVERSITY OF VALENCIA   (Spain)

Author keywords

Ethics; Income; Lifestyles; Money; Spain; United States of America

Indexed keywords

EID: 0242338738     PISSN: 00483486     EISSN: None     Source Type: Journal    
DOI: 10.1108/00483480310498701     Document Type: Article

References (85)

1. Ajzen, I. and Fishbein, M. (1977), "Attitude-behavior relations: a theoretical analysis and review of empirical research", Psychological Bulletin, Vol. 84, pp. 888-912.
2. Belk, R.W. (1985), "Materialism: trait aspects of living in the material world", Journal of Consumer Research, Vol. 12, pp. 265-80.
3. Bhagat, R.S. and McQuaid, S.J. (1982), "Role of subjective culture in organizations: a review and direction for future research", Journal of Applied Psychology, Vol. 67, pp. 653-85.
4. Brislin, R.W. (1980), "Translation and content analysis of oral and written materials", in Triandis, H.C. and Berry, J.W. (Eds), Handbook of Cross-cultural Psychology, Vol. 2: Methodology, Allyn & Bacon, Boston, MA, pp. 349-444.
5. Burgoyne, C. (1990), "Money in marriage", Sociological Review, Vol. 38, pp. 634-65.
6. Campion, M.A. (1991), "Meaning and measurement of turnover: comparison of alternative measures and recommendations for research", Journal of Applied Psychology, Vol. 76, pp. 199-212.
7. Charles-Pauvers, B. and Urbain, C. (1998), "L'argent comme objet d'attitude: quelles approches conceptuelle et methodologique?", Laboratoire de recherche en sciences de gestion, Universite de Nantes, Nantes, pp. 19-38.
8. Chen, S. (1987), "Find your own place on earth", Ours, July, pp. 38-43.
9. Chiu, R.K., Luk, V. and Tang, T.L.P. (2001), "Hong Kong and China: the cash mentality revisited", Compensation & Benefits Review, Vol. 33 No. 2, pp. 66-72.
10. Cohen-Charash, Y. and Spector, P.E. (2001), "The role of justice in organizations: a meta-analysis", Organizational Behavior and Human Decision Processes, Vol. 86 No. 2, pp. 278-321.
11. Fank, M. (1994), "The development of a money-handling inventory", Personality and Individual Differences, Vol. 17, pp. 147-52.
12. Fenko, A.B. (2000), "The problem of money in foreign psychological studies", Psikhologicheskii Zhurnal, Vol. 21 No. 1, pp. 50-62.
13. Forman, N. (1987), Mind over money, Doubleday, Toronto.
14. Furnham, A. (1984), "Many sides of the coin: the psychology of money usage", Personality and Individual Difference, Vol. 5, pp. 501-9.
15. Furnham, A. (1992), Personality at Work: The Role of Individual Differences in the Workplace, Routledge, London.
16. Furnham, A. and Argyle, M. (1998), The Psychology of Money, Routledge, London.
17. Furnham, A. and Kirkcaldy, B.D. (2000), "Economic socialisation: German parents' perception and implementation of allowances to educate children", European Psychologist, Vol. 5 No. 3, pp. 202-15.
18. Gabris, G.T. and Mitchell, K. (1988), "The impact of merit raise scores on employee attitudes:the Matthew Effect of performance appraisal", Public Personnel Management, Vol. 17, pp. 369-82.
19. Gilbert, J.A. and Tang, T.L.P. (1998), "An examination of organizational trust antecedents", Public Personnel Management, Vol. 27 No. 3, pp. 321-38.
20. Goldberg, H. and Lewis, L. (1978), Money Madness: The Psychology of Saving, Spending, Loving and Hating Money, William Morrow, New York, NY.
21. Gomez-Mejia, L.R. and Balkin, D.B. (1992), "Determinants of faculty pay: an agency theory perspective", Academy of Management Journal, Vol. 35, pp. 921-55.
22. Gupta, N. and Shaw, J.D. (1998), "Let the evidence speak: financial incentives are effective!!", Compensation and Benefits Review, Vol. 26 March-April, pp. 28-32.
23. Heneman, R.L (1992), Merit Pay, Addison-Wesley, Reading, MA.
24. Herzberg, F. (1987), "One more time: how do you motivate employees?", Harvard Business Review, Vol. 65 No. 5, pp. 109-20.
25. Herzberg, F., Mausner, B. and Snyderman, B. (1959), The Motivation to Work, John Wiley & Sons, New York, NY.
26. Hofstede, G. and Bond, M.H. (1988), "The Confucius connection: from cultural roots to economic growth", Organizational Dynamics, Vol. 16 No. Spring, pp. 5-21.
27. Kirkcaldy, B.D. and Cooper, C.L. (1992), "Work attitudes and leisure pursuits: sex differences", Personality and Individual Differences, Vol. 13 No. 3, pp. 329-34.
28. Kirkcaldy, B.D. and Furnham, A. (1993), "Predictors of belief about money", Psychological Report, Vol. 73, pp. 1079-82.
29. Kirkcaldy, B.D., Furnham, A. and Martin, T. (1997), "National differences in personality, socio-economic and work-related variables", European Psychologist, Vol. 3 No. 4, pp. 255-62.
30. Kohn, A. (1993), "Why incentive plans cannot work", Harvard Business Review, September/October, pp. 54-63.
31. Kohn, A. (1998), "Challenging behaviorist dogma: myths about money and motivation", Compensation and Benefits Review, Vol. 27 March/April, pp. 33-7.
32. Lawler, E.E. (1971), Pay and Organizational Effectiveness: A Psychological View, McGraw-Hill, New York, NY.
33. Lawler, E.E. (1981), Pay and Organization Development, Addison-Wesley, Reading, MA.
34. Laws, J. and Tang, T.L.P. (1999), "Japanese transplants and union membership: the case of Nissan Motor Manufacturing Corporation", SAM Advanced Management Journal, Vol. 64 No. 2, pp. 16-26.
35. Lazear, E.P. (1998), Personnel Economics for Managers, John Wiley & Sons, New York, NY.
36. Lim, V.K.G. and Teo, T.S.H. (1997), "Sex, money and financial hardship: an empirical study of attitudes towards money among undergraduates in Singapore", Journal of Economic Psychology, Vol. 18, pp. 369-86.
37. Locke, E.A., Feren, D.B., McCaleb, V.M., Shaw, K.N. and Denny, A.T. (1980), "The relative effectiveness of four methods of motivating employee performance", in Duncan, K.D., Gruneberg, M.M. and Wallis, D. (Eds), Changes in Working Life, John Wiley, Chichester, pp. 363-88.
38. Luna-Arocas, R. (1998), Dinero, Trabajo, y Consumo (Money, Work, and Consumption), Promolibro, Valencia.
39. Luna-Arocas, R. and Tang, T.L.P. (1998), "La psicologia economica del dinero: analisis de la escala etica del dinero (M.E.S.) y la escala de actitudes hacia el dinero (E.A.D.-6)" ("The economic psychology of money: analysis of the MES and the money attitudes scale (E.A.D.-6), Revista de Psicologia del Trabajo y de las Organizaciones (Journal of Work and Organizational Psychology), Vol. 14 No. 3, pp. 295-313.
40. Luna-Arocas, R., Quintanilla-Pardo, I. and Diaz, R. (1995), "Psychology of money: atitudes and perceptions within young people", paper presented at the 20th Annual Conference of the International Association for Research in Economic Psychology, Bergen.
41. Luna-Arocas, R., Tang, T.L.P. and Quintanilla-Pardo, I. (1999), "The role of money attitudes in human resources strategy", paper presented at the 24th Annual Conference of the International Association for Research in Economic Psychology - Inquiries into the Nature and Causes of Behavior, Belgirate, Piemonte, July.
42. Lynn, R. (1991), The Secret of the Miracle Economy, SAU, London.
43. McClelland, D.C. (1967), "Money as a motivator: some research insights", The McKinsey Quarterly, pp. 10-21.
44. McClure, R.F. (1984), "The relationship between money attitudes and overall pathology", Psychology: A Quarterly Journal of Human Behavior, Vol. 21, pp. 4-6.
45. Milkovich, G.T. and Newman, J.M. (2002), Compensation, 7th ed., Irwin, Chicago, IL.
46. Mitchell, T.R. and Mickel, A. (1999), "The meaning of money: an individual difference perspective", The Academy of Management Review, Vol. 24 No. 3, pp. 568-78.
47. Mitchell, T.R., Mickel, A., Dakin, S. and Gray, S. (1998), "The measurement of money importance", paper presented at the Annual Meeting of the Academy of Management, San Diego, CA, August.
48. Opsahl, R.L. and Dunnette, M.D. (1966), "The role of financial compensation in industrial motivation", Psychological Bulletin, Vol. 66, pp. 94-118.
49. Parker, S.R. (1972), The Future of Work and Leisure, Paladin, London.
50. Pfeffer, J. (1998), "Six dangerous myths about pay", Harvard Business Review, May/June, pp. 108-19.
51. Quintanilla, I. (1997), Psicologia Economica (Economic Psychology), McGraw-Hill, Madrid.
52. Reiss, T. (1998), "More cracks in the glass ceiling", Business Week, August, Vol. 10, p. 6.
53. Richins, M.L. and Rudmin, F.W. (1994), "Materialism and economic psychology", Journal of Economic Psychology, Vol. 15 No. 2, pp. 217-31.
54. Rubenstein, C. (1981), "Money and self-esteem, relationships, secrecy, envy, satisfaction", Psychology Today, Vol. 15 No. 5, pp. 29-44.
55. Rynes, S.L. and Gerhart, B. (2000), Compensation in Organizations: Current Research and Practice, Jossey-Bass, San Francisco, CA.
56. Smith, A. (1937), An Inquiry into the Nature and Causes of the Wealth of Nations, Modern Library, New York, NY (originally published in 1776).
57. Smith, P.C., Kendall, L.M. and Hulin, C.L (1975), The Measurement of Satisfaction in Work and Retirement, Bowling Green State University, Bowling Green, OH.
58. Tang, T.L.P. (1981), "Effects of personal values and task labels on intrinsic motivation", PhD dissertation, Case Western Reserve University, Cleveland, OH.
59. Tang, T.L.P. (1992), "The meaning of money revisited", Journal of Organizational Behavior, Vol. 13, pp. 197-202.
60. Tang, T.L.P. (1993), "The meaning of money: extension and exploration of the Money Ethic Scale in a sample of university students in Taiwan", Journal of Organizational Behavior, Vol. 14, pp. 93-9.
61. Tang, T.L.P. (1995), "The development of a short Money Ethic Scale: attitudes toward money and pay satisfaction revisited", Personality and Individual Differences, Vol. 19, pp. 809-17.
62. Tang, T.L.P. (1996a), "Atteggiamenti nei confronti del denaro e soddisfazione del proprio livello retributivo: sviluppo di una versione ridotta della Money Ethic Scale", Psicologia e Lavoro, Vol. 26 No. 103, pp. 7-16.
63. Tang, T.L.P. (1996b), "Pay differentials as a function of rater's sex, money ethic, and job incumbent's sex: a test of the Matthew Effect", Journal of Economic Psychology, Vol. 17, pp. 127-44.
64. Tang, T.L.P. and Frost, A.G. (1999), "Employee turnover revisited: differences among involuntary turnover, voluntary turnover, and current employees", Journal of Compensation and Benefits, Vol. 15 No. 2, pp. 41-6.
65. Tang, T.L.P. and Gilbert, P.R. (1995), "Attitudes toward money as related to intrinsic and extrinsic job satisfaction, stress, and work-related attitudesl", Personality and Individual Differences, Vol. 19, pp. 327-32.
66. Tang, T.L.P. and Kim, J.K. (1999), "The meaning of money among mental health workers: the endorsement of money ethic as related to organizational citizenship behavior, job satisfaction, and commitment", Public Personnel Management, Vol. 28 No. 1, pp. 15-26.
67. Tang, T.L.P. and Luna-Arocas, R. (1999), "Money as a motivator and the endorsement of the money ethic among university faculty in the USA and Spain: the development of the new Money Ethic Scale", paper presented at the 24th Annual Colloquium of the International Association for Research in Economic Psychology, Belgirate, Piemonte, 24 July.
68. Tang, T.L.P. and Smith-Brandon, V. (2001), "From welfare to work: the endorsement of the money ethic and the work ethic among welfare recipients, welfare recipients in training programs, and employed past welfare recipients", Public Personnel Management, Vol. 30 No. 2, pp. 241-60.
69. Tang, T.L.P. and Weatherford, E.J. (1997), "Secondary vocational business students' ethical decision making", paper presented at the International Conference of the Academy of Human Resource Development, Atlanta, GA, March.
70. Tang, T.L.P., Furnham, A. and Davis, G.M.T.W. (2000a), "A cross cultural comparison of pay differentials as a function of rater's sex and money ethic endorsement: the Matthew Effect revisited", Personality and Individual Differences, Vol. 29, pp. 685-97.
71. Tang, T.L.P., Kim, J.K. and Tang, D.S.H. (2000b), "Does attitude toward money moderate the relationship between intrinsic job satisfaction and voluntary turnover?", Human Relations, Vol. 53 No. 2, pp. 213-45.
72. Tang, T.L.P., Luk, V.W.M. and Chiu, R.K. (2000b), "Pay differentials in the People's Republic of China: an examination of internal equity and external competitiveness", Compensation & Benefits Review, Vol. 32 No. 3, pp. 43-9.
73. Tang, T.L.P., Luna-Arocas, R. and Whiteside, H.D. (1997), "Attitudes toward money and demographic variables as related to income and life satisfaction: USA vs. Spain", Proceedings of the 22nd International Colloquium of Economic Psychology, Vol. 1, September, Valencia, pp. 256-66.
74. Tang, T.L.P., Singer, M.G. and Roberts, S. (2000c), "Employees' perceived organizational instrumentality: an examination of the gender differences", Journal of Managerial Psychology, Vol. 15 No. 5, pp. 378-406.
75. Tang, T.L.P., Tang, T.L.N. and Luna-Arocas, R. (1999), "Money profiles as related to work-related attitudes: an examination of the money ethic endorsement among citizens in the USA", paper presented at the 6th European Congress of Psychology, Rome, 6 July.
76. Tang, T.L.P., Sutarso, T., Tang, D.S.H. and Luna-Arocas, R. (2001), "Career choice, experience, and demographic variables as related to income, money ethic, pay equity comparison, and pay satisfaction", paper presented at the Annual Meeting of Academy of Management, Washington, DC, August.
77. Tang, T.L.P., Tillery, K.R., Lazarevski, B. and Luna-Arocas, R. (2000d), "Money profiles and work-related attitudes: the endorsement of the money ethic of citizens in the Republic of Macedonia", paper presented at the 25th Annual Colloquium on Research in Economic Psychology, Baden, Vienna.
78. Tang, T.L.P., Akadne, A., Alzubaidi, A.S., Borg, M.G., Cheng, B.S., Chiu, R.K., Jen, C.K., Kazem, A.M. and Lim, V.K.G. (2002), "Is the love of money the root of all evil? Income, money ethic, pay satisfaction, commitment, ethical culture, and unethical behavior in 12 countries", paper submitted for publication.
79. Tillery, K., Tang, T.L.P. and Lazarevski, B. (1998), "Money ethic endorsement: differences between students and employees in Macedonia", paper presented at the 24th International Congress of Applied Psychology, San Francisco, CA.
80. Upjohn Institute for Employment Research (1973), Work in America, The MIT Press, Cambridge, MA.
81. Urbain, C. (2000), "L'attitude a l'egard de l'argent: une premiere tentative de validation de deux echelles de mesure americaines dans un contexte culturel francais", Recherche et Applications en Marketing, Vol. 15 No. 3, pp. 3-28.
82. (The) Wall Street Journal (1994), "Gender pay gap eased over last decade", The Wall Street Journal, 4 May, p. B1.
83. Wernimont, P.F. and Fitzpatrick, S. (1972), "The meaning of money", Journal of Applied Psychology, Vol. 56, pp. 218-26.
84. Yamauchi, K.T. and Templer, D.I. (1982), "The development of a money attitude scale", Journal of Personality Assessment, Vol. 46, pp. 522-8.
85. Zelizer, V.A. (1989), "The social meaning of money: special monies", American Journal of Sociology, Vol. 95, pp. 342-77.