RT Article
T1 Monetary Intelligence and Behavioral Economics Across 32 Cultures: Good Apples Enjoy Good Quality of Life in Good Barrels
JF Journal of business ethics
VO 148
IS 4
SP 893
OP 917
A1 Tang, Thomas Li-Ping
A1 Sutarso, Toto
A1 Ansari, Mahfooz A.
A1 Lim, Vivien Kim Geok
A1 Teo, Thompson Sian Hin
A1 Arias-Galicia, Fernando
A1 Garber, Ilya E.
A1 Chiu, Randy Ki-Kwan
A1 Charles-Pauvers, Brigitte
A1 Luna-Arocas, Roberto
A1 Vlerick, Peter
A1 Akande, Adebowale
A1 Allen, Michael W.
A1 Al-Zubaidi, Abdulgawi Salim
A1 Borg, Mark G.
A1 Canova, Luigina
A1 Cheng, Bor-Shiuan
A1 Correia, Rosario
A1 Du, Linzhi
A1 Garcia de la Torre, Consuelo
A1 Ibrahim, Abdul Hamid Safwat
A1 Jen, Chin-Kang
A1 Kazem, Ali Mahdi
A1 Kim, Kilsun
A1 Liang, Jian
A1 Malovics, Eva
A1 Manganelli, Anna Maria
A1 Moreira, Alice S.
A1 Mpoyi, Richard T.
A1 Nnedum, Anthony Ugochukwu Obiajulu
A1 Osagie, Johnsto E.
A1 Osman-Gani, AAhad M.
A1 Özbek, Mehmet Ferhat
A1 Pereira, Francisco José Costa
A1 Pholsward, Ruja
A1 Pitariu, Horia D.
A1 Polic, Marko
A1 Sardžoska, Elisaveta Gjorgji
A1 Skobic, Petar
A1 Stembridge, Allen F.
A1 Tang, Theresa Li-Na
A1 Urbain, Caroline
A1 Trontelj, Martina
A1 Chen, Jingqiu
A1 Tang, Ningyu
LA English
PB Springer Science + Business Media B. V
YR 2018
UL https://www.ixtheo.de/Record/1785664204
AB 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 (GDP per capita) and micro-level (Z income). 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 (money makes people happy). Our theoretical model across three GDP groups offers new discoveries: In high GDP (rich) 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 (CPI) (risk aversion for gains of high probability) (Tang et al. 2015. doi:10.1007/s10551-015-2942-4). In low GDP (poor) 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.
K1 Economists/psychologist
K1 behavioral economics
K1 Global economic pyramid
K1 Cross-cultural
K1 International
K1 Corporate ethical values
K1 Satisfaction
K1 Corruption Perceptions Index/CPI
K1 GDP
K1 Prospect Theory
DO 10.1007/s10551-015-2980-y