Income and quality of life: Does the love of money make a difference?

Journal of Business Ethics

Volumn 72, Issue 4, 2007, Pages 375-393

  Tang, T L P ^a,b  

^a CASE WESTERN RESERVE UNIVERSITY   (United States)

^b MIDDLE TENNESSEE STATE UNIVERSITY   (United States)

Author keywords

Employment status; Gender; Income; Income level; Job satisfaction; Marital status; Quality of life; The love of money

Indexed keywords

EID: 34248203166     PISSN: 01674544     EISSN: 15730697     Source Type: Journal    
DOI: 10.1007/s10551-006-9176-4     Document Type: Article

References (71)

1. Adams, G. A., L. A. King and D. W. King: 1996, 'Relationships of Job and Family Involvement, Family Social Support, and Work-Family Conflict with Job and Life Satisfaction', Journal of Applied Psychology 81, 411-420.
2. Ahuvia, A. C. and D. C. Friedman: 1998, 'Income, Consumption, and Subjective Well-Being: Toward a Composite Macromarketing Model', Journal of Macromarketing 18, 153-168.
3. The American Freshman: 1994, Higher Education Research Institute. University of California at Los Angeles, LA, CA.
4. Bacharach, S. B., P. Bamberger and S. Conley: 1991, 'Work-Home Conflict Among Nurses and Engineers: Mediating the Impact of Role Stress on Burnout and Satisfaction at Work', Journal of Organizational Behavior 12, 39-53.
5. Barber, A. E. and R. D. Bretz: 2000, 'Compensation, Attraction, and Retention', in S. L. Rynes and B. Gerhart (eds.), Compensation in Organizations: Current Research and Practice (Jossey-Bass, San Francisco), pp. 32-60.
6. Belk, R. W.: 1985, 'Materialism: Trait Aspects of Living in the Material World', Journal of Consumer Research 12, 265-280.
7. Bennett, N., P. P. Carson, K. D. Carson and T. C. Blum: 1994, 'A Comparison of "Traditional" and "Atypical" Workers: Demographic, Behavioral, and Attitudinal Differences', Journal of Business and Psychology 8, 467-474.
8. Bryan, R. G.: 2004, July 28-August 1, A Survey on Causes of Dissatisfaction at College. Paper presented at the 112th Annual Convention of the American Psychological Association, Honolulu, HI.
9. Chen, Y. J. and T. L. P. Tang: 2005, May 26-29, Unethical Behavior in Organization is Related to Money Attitude. Paper presented at the 17th American Psychological Society Annual Convention, Los Angles, CA.
10. Chen, Y. J. and T. L. P. Tang: 2006, Attitude Toward and Propensity to Engage in Unethical Behavior: Measurement Invariance Across Major Among University Students. Journal of Business Ethics 69(1), 77-93.
11. Cheung, G. W. and R. B. Rensvold: 2002, 'Evaluating Goodness-of-Fit Indexes for Testing Measurement Invariance', Structural Equation Modeling 9(2), 233-255.
12. Cohen-Charash, Y. and P. E. Spector: 2001, 'The Role of Justice in Organizations: A Meta-Analysis', Organizational Behavior and Human Decision Processes 86(2), 278-321.
13. Crawford Solberg, E., E. Diener, D. Wirtz, R. E. Lucas and S. Oishi: 2002, 'Wanting, Having, and Satisfaction: Examining the Role of Desire Discrepancies in Satisfaction with Income', Journal of Personality and Social Psychology 83(3), 725-734.
14. Crosby, F.: 1982, Relative Deprivation and Working Women (Oxford University Press, New York).
15. Csikszentmihalyi, M.: 1999, 'If We are So Rich, Why aren't We Happy?', American Psychologist 54, 821-827.
16. Diener, E.: 1984, 'Subjective Well-Being', Psychological Bulletin 95(3), 542-575.
17. Diener, E. and C. Diener: 1996, 'Most People are Happy', Psychological Science 7(3), 181-185.
18. Diener, E. and S. Oishi: 2000, 'Money and Happiness: Income and Subjective Well-Being Across Nations', in E. Dinner and E. M. Suh (eds.), Subjective Well-Being Across Cultures (MIT Press, Cambridge, MA), pp. 185-218.
19. Diener, E. and M. E. P. Seligman: 2004, 'Beyond Money: Toward an Economy of Well-Being', Psychological Science in the Public Interest 5(1), 1-31.
20. Diener, E., M. Diener and C. Diener: 1995, 'Factors Predicting the Subjective Well-Being of Nations', Journal of Personality and Social Psychology 69(5), 851-864.
21. Diener, E., R. E. Lucas and C. N. Scollon: 2006, 'Beyond the Hedonic Treadmill: Revising the Adaptation Theory of Well-Being', American Psychologist 61(4), 305-314.
22. Diener, E., C. L. Gohm, E. Suh and S. Oishi: 2000, 'Similarity of the Relations between Marital Status and Subjective Well-Being Across Cultures', Journal of Cross-cultural Psychology 31(4), 419-436.
23. Diener, E., E. Sandvik, L. Seidlitz and M. Diener: 1993, 'The Relationship between Income and Subjective Well-Being: Relative or Absolute?', Social Indictors Research 28, 195-223.
24. Du, L. Z. and T. L. P. Tang: 2005, 'Measurement Invariance Across Gender and Major: The Love of Money Among University Students in People's Republic of China', Journal of Business Ethics 59(3), 281-293.
25. Easterlin, R. A.: 2006, 'Life Cycle Happiness and Its Sources Intersections of Psychology, Economics, and Demography', Journal of Economic Psychology 27(4), 463-482.
26. Eid, M. and E. Diener: 2004, 'Global Judgments of Subjective Well-Being: Situational Variability and Long-Term Stability', Social Indicators Research 65(3), 245-277.
27. Evans, M. D. R. and J. Kelley: 2004, 'Effects of Family Structure on Life Satisfaction: Australian Evidence', Social Indicators Research 69(3), 303.
28. Flanagan, J. C.: 1978, A Research Approach to Improving Our Quality of Life. American Psychologist, 33(2), 138-147.
29. Furnham, A. and M. Argyle: 1998, The Psychology of Money (Routledge, London).
30. Greenberg, J.: 1993, 'Stealing in the Name of Justice: Informational and Interpersonal Moderators of Theft Reactions to Underpayment Inequity', Organizational Behavior and Human Decision Processes 54(1), 81-103.
31. Haring, M. J., W. A. Stock and M. A. Okun: 1984, 'A Research Synthesis of Gender and Social Class as Correlates of Subjective Well-Being', Human Relations 37(8), 645-657.
32. Harpaz, I.: 1990, 'The Importance of Work Goals: An International Perspective', Journal of International Business Studies 21(1), 79-93.
33. Heneman, H. and T. A. Judge: 2000, 'Compensation Attitudes', in S. L. Rynes and B. Gerhart (eds.), Compensation in Organizations: Current Research and Practice (Jossey-Bass, San Francisco), pp. 61-103.
34. Iverson, R. D. and C. Maguire: 2000, 'The Relationship between Job and Life Satisfaction: Evidence from a Remote Mining Community', Human Relations 53, 807-839.
35. Judge, T. A. and T. D. Chandler: 1996, 'Individual-Level Determinants of Employee Shirking', Relations Industrielles 51(3), 468-486.
36. Judge, T. A. and S. Watanabe: 1993, 'Another Look at the Job Satisfaction - Life Satisfaction Relationship', Journal of Applied Psychology 78(6), 939-948.
37. Jurgensen, C. E.: 1978, 'Job Preferences (What Makes a Job Good or Bad?)', Journal of Applied Psychology 63, 267-276.
38. LaBarbera, P. A. and Z. Gurhan: 1997, 'The Role of Materialism, Religiosity, and Demographics in Subjective Well-Being', Psychology and Marketing 14, 71-97.
39. Levanoni, E. and C. A. Sales: 1990, 'Differences in Job Attitudes between Full-Time and Part-Time Canadian Employees', Journal of Social Psychology 130(2), 231-237.
40. Luna-Arocas, R. and T. L. P. Tang: 2004, 'The Love of Money, Satisfaction, and the Protestant Work Ethic: Money Profiles Among University Professors in the USA and Spain', Journal of Business Ethics 50(4), 329-354.
41. Major, B. and E. Konar: 1984, 'An Investigation of Sex Differences in Pay Expectations and their Possible Causes', Academy of Management Journal 27(4), 777-792.
42. Michalos, A. C.: 1985, 'Multiple Discrepancies Theory (MDT)', Social Indicators Research 16, 347-413.
43. Milkovich, G. T. and J. M. Newman: 2005, Compensation 8th edition. (Irwin/McGraw-Hill, Boston).
44. Mitchell, T. R. and A. E. Mickel: 1999, 'The Meaning of Money: An Individual Difference Perspective', Academy of Management. Review 24(3), 568-578.
45. Mroczek, D. K. and A. Spiro: 2005, 'Change in Life Satisfaction During Adulthood: Findings from the Veterans Affairs Normative Aging Study', Journal of Personality and Social Psychology 88(1), 189-202.
46. Myers, D. G. and E. Diener: 1995, 'Who is Happy?', Psychological Science 6(1), 10-19.
47. Nickerson, C., N. Schwarz, E. Diener and D. Kahneman: 2003, 'Zeroing in on the Dark Side of the American Dream: A Closer Look at the Negative Consequences of the Goal for Financial Success', Psychological Science 14(6), 531-534.
48. Oishi, S., U. Schimmack and E. Diener: 2001, 'Pleasures and Subjective Well-Being', European Journal of Personality 15(2), 153-167.
49. Podsakoff, P. M., S. B. MacKenzie, J. Y. Lee and N. P. Podsakoff: 2003, 'Common Method Biases in Behavioral Research: A Critical Review of the Literature and Recommended Remedies', Journal of Applied Psychology 88, 879-903.
50. Richins, M. L. and F. W. Rudmin: 1994, 'Materialism and Economic Psychology', Journal of Economic Psychology 15(2), 217-231.
51. Robinson, S. L. and R. J. Bennett: 1995, 'A Typology of Deviant Workplace Behaviors: A Multidimensional Scaling Study', Academy of Management Journal 38(2), 555-572.
52. Rousseau, D. M.: 1978, 'Relationship of Work and Nonwork', Journal of Applied Psychology 63, 513-517.
53. Rynes, S. L. and B. Gerhart, (eds.): 2000, Compensation in Organizations: Current. Research and Practice (Jossey-Bass, San Francisco).
54. Sloan, A.: 2002, June 24, 'The Jury's In: Greed Isn't Good'. News Week, 37.
55. Smith, P. C., L. M. Kendall and C. L. Hulin: 1975, The Measurement of Satisfaction in Work and Retirement (Bowling Green State University, Bowling Green, OH).
56. Solberg, E. G., E. Diener and M. D. Robinson: 2004, 'Why are Materialists Less Satisfied?', in T. Kasser and A. D. Kanner (eds.), Psychology and Consumer Culture: The Struggle for a Good Life in a Materialistic World (American Psychological Association, Washington, DC).
57. Srivastava, A., E. A. Locke and K. M. Bartol: 2001, 'Money and Subjective Well-Being: It's Not the Money, It's the Motives', Journal of Personality and Social Psychology 80(6), 959-971.
58. Staw, B. M., N. E. Bell and J. A. Clausen: 1986, 'The Dispositional Approach to Job Attitudes: A Lifetime Longitudinal Test', Administrative Science Quarterly 31, 56-77.
59. Still, L. V.: 1983, 'Part-Time Versus Full-Time Sales-people: Individual Attributes, Organizational Commitment, and Work Attitudes', Journal of Retailing 59, 55-79.
60. Tang, T. L. P.: 1992, 'The Meaning of Money Revisited', Journal of Organizational Behavior 13, 197-202.
61. Tang, T. L. P. and Y. J. Chen: 2006, Is the Love of Money the Root of Evil? Machiavellianism as a Mediator and College Major and Sex as Moderators (paper submitted for publication).
62. Tang, T. L. P. and R. K. Chiu: 2003, 'Income, Money Ethic, Pay Satisfaction, Commitment, and Unethical Behavior: Is the Love of Money the Root of Evil for Hong Kong Employees?', Journal of Business Ethics 46(1), 13-30.
63. Tang, T. L. P., R. Luna-Arocas and T. Sutarso: 2005, 'From Income to Pay Satisfaction: The Love of Money and Pay Equity Comparison as Mediators and Culture (The US and Spain) and Gender as Moderators', Management Research: The Journal of the Iberoamerican Academy of Management. 3(1), 7-26.
64. Tang, T. L. P., J. K. Kim and D. S. H. Tang: 2000, 'Does Attitude Toward Money Moderate the Relationship between Intrinsic Job Satisfaction and Voluntary Turnover?', Human Relations 53(2), 213-245.
65. Tang, T. L. P., J. K. Kim and T. L. N. Tang: 2002, 'Endorsement of the Money Ethic, Income, and Life Satisfaction: A Comparison of Full-Time Employees, Part-Time Employees, and Non-Employed University Students', Journal of Managerial Psychology 17(6), 442-467.
66. Tang, T. L. P., R. Luna-Arocas and I. Quintanilla Pardo: 2001, September 6-10, The Development of the Possession Obsession Scale: Materialism and Money Ethic in Spain. Paper presented at the Annual Meeting of International Association for Research in Economic Psychology, Bath, London, UK. Environment and Wellbeing, 294-297.
67. Tang, T. L. P., T. Sutarso, A. Akande, M. W. Allen, A. S. Alzubaidi, M. A. Ansari, F. Arias-Galicai, M. G. Borg, L. Canova, B. Charles-Pauvers, B. S. Cheng, R. K. Chiu, L. Z. Du, I. Garber, C. Garcia de la Torre, R. C. Higgs, A. H. S. Ibrahim, C. K. Jen, A. M. Kazem, K. Kim, V. K. G. Lim, R. Luna-Arocas, E. Malovics, A. M. Manganelli, A. Moreira, A. U. O. Nnedum,J. E. Osagje, A. Osman-Gani, F. C. Pereira, R. Pholsward, H. D. Pitariu, M. Polic, E. Sardzoska, P. Skobic, A. F. Stembridge, T. L. N. Tang, T. S. H. Teo, M. Tombolani, M. Trontelj, C. Urbain and P. Vlerick: (2006) The Love of Money and Pay Level Satisfaction: Measurement and Functional Equivalence in 29 Geopolitical Entities Around the World. Management and Organization Review 2(3), in press.
68. Tilly, C.: 1992, 'Dualism in Part-Time Employment', Industrial Relations 31(2), 330-347.
69. Vandenberg, R. J. and C. E. Lance: 2000, 'A Review and Synthesis of the Measurement Invariance Literature: Suggestions, Practices, and Recommendations for Organizational Research', Organizational Research Methods 3(1), 4-69.
70. Vardi, Y. and E. Weitz: 2004, Misbehavior in Organizations (Lawrence Erlbaum, Mahwah, NY).
71. Wernimont, P. F. and S. Fitzpatrick: 1972, 'The Meaning of Money', Journal of Applied Psychology 56, 218-226.