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Front Cover
Monetary Wisdom: Monetary Aspirations Impact Decision-Making
Copyright
Contents
Contributors
Acknowledgment and Dedication
Introduction: Monetary wisdom: Crafting an inspirational, memorable, and practical theory and telling an interest ...
Monetary Wisdom: A definition
Connecting a rigorous scientific mind and a creative artistic brain
Basic constructs
The theoretical background of money and the meaning of money
Behavioral economics and Monetary Wisdom
Four types of measurement scales
When money talks, everyone listens
Measuring the attitude toward money
Incorporate contextualization
Becoming choice architects and ethical and moral decision-makers
Developing an inspirational, memorable, and practical theory
Time is money
Neural ballet
References
Section A: Money, monetary values, and motivation
Chapter 1: Money is power: The love of money and materialism among Czech university students*
Theory and hypotheses
Materialism
Temptation
Money attitude and love of money
Monetary wisdom
Monetary wisdom and materialism
College major
Gender
Method
Participants
Measurement
Results
Descriptive results
Confirmatory factor analysis
The love of money measure
The material values scale (materialism scale)
Common method variance
Monetary Wisdom (MW) with two factors of materialism
Modified MW with two indicators of factor success (materialism)
Modified MW across college majors
Modified MW across genders
Discussion
Theoretical contributions
Empirical contributions
Practical contributions
How does money make people happy?
Limitations
Conclusion
Appendix A
Scales and items in the theoretical model of Monetary Wisdom (MW)
The Love of Money Scale (money ethic scale)
The Material Value Scale (Materialism)
References
Chapter 2: Are you satisfied with your pay when you compare? It depends on your love of money, pay comparison standards, ...
Introduction
Theory and hypotheses
The love of money
Equity comparison
Income and pay equity comparison satisfaction
Across cultures: The US vs. Spain
Income and the love of money
The love of money and the pay equity comparisons standards
The pay equity comparisons standards and the pay equity comparison satisfaction
Method
Participants
Measures
Results
Step 1: Multigroup confirmatory factor analysis (MGCFA)
Step 2: Structural equation modeling (SEM) results
The whole sample
The US sample
The Spanish sample
Discussion
Conclusion
References
Section B: Monetary values, temptation, and dark consequences
Chapter 3: Falling or not falling into temptation? Multiple faces of temptation, monetary wisdom, and unethical intention ...
Theory and hypotheses
Temptation: Construct conceptualization
Relationships between constructs and measures (reflective vs. formative)
Unethical behavior intentions
Temptation to unethical behaviors
Monetary Wisdom (MW)
Monetary Wisdom (MW) as a mediator
Gender
Method
Results
The Temptation scale (reflective vs. formative)
Measurement invariance
Common method variance (CMV)
Our theoretical model
Reflective model
Formative model
Discussion
Theoretical contributions
Empirical contributions
Practical and actionable implications
Limitations
Conclusion
Appendix
The temptation scale
Antecedents of temptation
Monetary Wisdom (MW)
Affective motive of money
The behavioral stewardship of money
Cognitive meaning of money
Machiavellianism
Unethical behavior intentions (PUB)
References
Chapter 4: Temptation, monetary wisdom (the love of money attitudes), and environmental context on unethical intentions a ...
Theory and hypotheses
Study 1
Temptation
Unethical behavior intentions
The temptation to unethical behaviors (path 1)
Monetary Wisdom (MW)
Monetary Wisdom (MW) as a mediator
Culture
Method
Results
The temptation scale (reflective vs. formative)
Our theoretical model
Study 2
Experiment 1
Method
Results
Experiment 2
Method
Results
Comparisons of Experiment 1 and Experiment 2
Discussion
Theoretical contributions
Empirical contributions
Practical and actionable implications
Limitations
Conclusion
Appendix
Temptation
References
Chapter 5: Avaricious justice-seeking dishonesty-Aspiration, dissatisfaction, and low transparency incite cheating: The d ...
Introduction
Theory and hypotheses
Prospect theory
Attitude toward money
Priming experiments
Avaricious monetary aspiration
Pay satisfaction
Dishonesty-cheating
Transparency
Open public classrooms vs. opaque private cubicles
Age and gender
Methods
Participants
Transparency (open classrooms vs. private cubicles)
In Phase 1
In Phase 2
Manipulation of pay satisfaction
Part A
Part B
Avaricious monetary aspiration
Manipulation checks
Results
Baseline performance
Manipulation checks
Self-reported pay-for-performance
ANOVA (Phase 1 vs. Phase 2)
Phase 2
ANCOVA (2x2x2)
Money at stake
Discussion
Theoretical contribution
Practical contribution
Limitation
The COVID-19 pandemic
Conclusion
References
Chapter 6: Theory of monetary wisdom: Money attitudes predict religious values, making money, making ethical decisions, a ...
Theory and hypotheses
The teaching of business ethics
The bright side
The dark side
Monetary wisdom
Making money vs. making ethical decisions
Religiosity and the Ten Commandments
Monetary intelligence, materialism, emotional intelligence, and academic performance
Methods
Participants
Procedures and measures
Results
Confirmatory factor analysis
Common method variance (CMV)
Step 1
Course work
Personal values
Step 2
Course work
Personal values
Time 1 vs. Time 2
Step 3
Intrinsic religiosity and the Ten Commandments
Ethical decision-making and final course grade
Discussion
Theoretical contributions
Empirical implications
Practical implications
Limitations
Conclusion
Appendix
Ardent Monetary Aspirations
I. Affective Love of Money Motive
II. The Stewardship Behaviorf
III. Cognitive Meaning of Money
References
Chapter 7: Is the love of money the root of all evils? Income, the love of money, pay satisfaction, commitment, and uneth ...
Theory and hypotheses
The love of money to evils (unethical behavior)
Money (income) to evils (unethical behavior)
Income to the love of money
The love of money to pay satisfaction
Pay satisfaction to organizational commitment to unethical behavior
Job changes
Methods
Hong Kong
Participants
Measure
The love of money scale
The Evil scale
Income
Data analysis
Results
Descriptive statistics
Step 1: Confirmatory factor analysis (CFA) of all measures
Step 2: Testing the model using SEM
Discussion
Appendix A. Items of the love of money scale (LOMS)
References
Chapter 8: Intelligence vs. wisdom: Does ethics intervention enhance learning and virtue? Money, the love of money, Machi ...
Theory and hypotheses
The efficacy of business ethics training
Our theoretical model
The love of money
Unethical behavior
Machiavellianism
Income
Moderator
Across college majors (business vs. psychology)
Across genders
Methods
Background for the research site
Procedure
Measures
Definition (intelligence vs. wisdom)
Results
Harmans single-factor test (step 1)
Measurement model (step 2)
The effect of a single unmeasured latent method factor (step 3)
Effects of ethics intervention on unethical behavioral intentions
Discussion
Theoretical contribution
Practical implications
Limitation
Future research
Conclusion
Appendix
References
Chapter 9: Behavioral economics and Monetary Wisdom: The Enron Effect-Love of money, Corporate Ethical Values, Corruption ...
Theory and hypotheses
Money and money attitude
Money and its meaning
The love of money (LOM)
Dishonesty
The love of money and dishonesty
Corporate Ethical Values (CEV, Level 1)
Corruption Perceptions Index, CPI (Level 2)
High CPI entities
Low CPI entities
Methods
Sample and procedure
Measures
LOM
CEV
Dishonesty
CPI
Analysis
Results
Confirmatory factor analysis (CFA) results
Measurement invariance
Common method variance bias (CMV)
Cross-level analysis
Cross-level, three-way interaction effect
Magnitude
Intensity
Discussion
Theoretical implications
Empirical contributions
Practical implications
The Enron Effect
Limitations
Conclusion
References
Chapter 10: Behavioral economics and monetary wisdom: A cross-level analysis of monetary aspiration, pay (dis)satisfactio ...
Introduction
Theory and hypothesis
Prospect theory
Avaricious monetary aspiration
Corruption (dishonesty)
Monetary wisdom-Avaricious monetary aspiration and dishonesty
Research findings
Monetary wisdom: Definition
Pay satisfaction and pay dissatisfaction
Transparency-High vs. low probability of risk in the environmental context
The three CPI contexts
Methods
Procedure and participants
Measures
Results
Cross-level analysis
Results of three CPI groups
Three-dimensional visualization
Discussion
Theoretical contributions
Empirical contributions
Practical implications
The COVID-19 pandemic implications
Limitations
Conclusion
References
Section C: Leadership, creativity, and honesty
Chapter 11: Do leader and member perceptions of the LMX excite member creativity? The mediating role of employee positive ...
Theoretical background and hypothesesa
LMX and employee creativity
Positive emotion as a mediator
Methods
Participants, setting, and procedureb
Measures
Leader-member exchange (LMX)
Positive emotion
Employee creativity
Control variables
Results
Dimensionality and distinctiveness
Common method variance
Hypothesis testing
Discussion
Theoretical implications
Practical implications
Limitations and directions for future research
Conclusion
References
Chapter 12: Love of Money and unethical behavior intentions: Do perceptions of Authentic Supervisors´ Personal Integrity ...
Theory and hypotheses
The meaning of money
The money ethic scale
The love of money
Unethical behavioral intentions
Love of money and unethical behavioral intentions
Authentic supervisors personal integrity and character as a moderator
Honesty and integrity
Caring servants
Empower others by offering transparent help and professional development
Method
Panel studies
Participants and procedures
Measures
Results
Confirmatory factor analysis
Authentic supervisors´ personal integrity and character
Confirmatory factor analysis
Measurement invariance
Common method variance bias
Descriptive statistics
Regression results
Discussion
Implications
Limitation
Future research
Conclusion
Appendix A
References
Chapter 13: Does moral leadership enhance employee creativity? Employee identification with the leader and leader-member ...
Introduction
Theory and hypotheses
Creativity
Paternalistic leadership
Moral leadership and employee identification with leader
Moral leadership and leader-member exchange
Employee identification with the leader and employee creativity
Leader-member exchange and employee creativity
The mediation effects between moral leadership and employee creativity
Method
Sample and data collection
Measures
Moral leadership
Identification with leader
Leader-member exchange
Employee creativity
Control variables
Results
Validity analysis
Common method variance issue
Hypotheses testing
Descriptive statistics
Modeling and path analysis
Discussion
Theoretical implications
Managerial implications
Limitations and the directions for future research
Conclusion
Appendix
References
Chapter 14: Do victims of supervisor bullying suffer from poor creativity? Social cognitive and social comparison perspec ...
Theory and hypotheses
Creativity
Own abusive supervision, peer abusive supervision, and creativity
Creative self-efficacy as a mediator
Peer abusive supervision as a moderator
Own and peer abusive supervision and social comparison orientation
Method
Sample and procedure
Measures
Results
Confirmatory factor analysis and descriptive results
Common method variance
Testing our hypotheses
Discussion
Theoretical implications
Managerial implications
Limitations and future research directions
Conclusion
Compliance with Ethical Standards
References
Chapter 15: Do ethical leaders enhance employee ethical behaviors? Organizational justice and ethical climate as dual med ...
Introduction
Theory and hypotheses
Ethical leadership and employee ethical behaviors
The ethical climate as a mediator
Organizational justice as a mediator
Leaders moral attentiveness as a moderator
Method
Participants and procedure
Measurement
Results
Demographic profile
Items reliability, internal reliability, and convergent validity
Our theoretical model
Discussion
Theoretical implications
Managerial implications
Limitations and future research
Conclusion
References
Section D: Monetary Wisdom, well-being, global challenges, and implications
Chapter 16: Does interpersonal justice enhance organizational loyalty? A theory of justice,organizational citizenship beh ...
Introduction
Theory and hypotheses
Organizational justice
Organizational citizenship behavior (OCB)
Kyrgyzstan
Social exchange in the relationship between organizational justice and OCB
Procedural justice and OCB in Kyrgyzstan
Distributive justice and OCB in Kyrgyzstan
Interactional justice and OCB in Kyrgyzstan
Individualism in Kyrgyzstan
Individualism as a moderator of the organizational justice to OCB relationship
Individualism as a moderator of the distributive justice to OCB relationship
Individualism as a moderator of the interactional justice to OCB relationship
Methods
Sample and procedure
Measures
Results
Descriptive statistics
Confirmatory factor analysis (CFA) and common method variance (CMV)
Hierarchical regression analysis
Main effect of organizational justice on OCB
Individualism moderates the distributive justice to OCB relationship
Individualism moderates the interactional justice to OCB relationship
Discussion
Theoretical contributions
Empirical and managerial implications
Limitations and future research
Conclusion
References
Chapter 17: European airline cockpit and cabin crew well-being during the COVID-19 lockdown: Does union satisfaction have ...
Theory and hypotheses
Union and union satisfaction
Impact of the COVID-19 pandemic on the airline sector
Well-being in aviation (in times of lockdown)
The link between union satisfaction (in aviation) and well-being
Method
Study sample and data collection
Measures
Confounders
Statistical analyses
Results
Descriptive results
Relations among dependent variables
Linking demographic variables with study variables
Linking union satisfaction with dependent variables
Additional analyses
Discussion
Study limitations and directions for future research
Practical implications
Appendix
References
Chapter 18: The Matthew Effect in Monetary Wisdom*
Introduction
The Matthew Effect in the Holy Bible
What are the meanings of possessions/talents?
What are the implications?
The Matthew Effect in scientific researchb
The Matthew Effect at the individual level
The Matthew Effect at the corporate-industry level
The Matthew Effect at the global level-CSR
Agency theory
Tournament theory
Tournament theory at the individual-organization levels
Tournament theory at the country level (the US)
Tournament theory at the global level-CSR
Selected empirical studies on tournament theory
Other management theories
Urgency
Time is money
The Matthew Effect in monetary wisdom
God and Mammon
The meaning of money
The dark side of the Matthew Effect
The bright side of the Matthew Effect
Implications
Conclusion
References
Chapter 19: Detecting honest peoples lies in handwriting: The power of the Ten Commandments and internalized ethical values*
Graphology and handwriting analysis
A theoretical model of communication and detecting lies
The major principles of detecting lies
A case study
Conclusion
References
Chapter 20: Behavioral economics and Monetary Wisdom across 32 cultures: Good apples enjoy a good quality of life in good ...
Introduction
Theory and hypotheses
Construct conceptualization: Monetary Wisdom
Affective love of money motive
Stewardship behavior
Cognitive meaning
Pay satisfaction and life satisfaction
Control variables
Data analysis strategy
Method
Sample and procedure
Measures
Results
Descriptive statistics
Confirmatory factor analysis
Common method variance (CMV)
Reflective vs. formative models
Control variables
Across three GDP groups
Discussion
Theoretical contributions
Empirical contributions
Practical implications
Limitations
Conclusion
References
Chapter 21: Youth materialism and consumer ethics: Gen Z adolescents self-concepts (power and self-esteem) as dual mediat ...
Theory and hypotheses
Materialism
Consumer ethics, unethical consumer beliefs (UCB)
Materialism and UCB
Sense of power (public self) as a mediator
Materialism to sense of power
Sense of power to UCB
Self-esteem (private self) as a mediator
Materialism to self-esteem
Self-esteem to UCB
The culture as a moderator
French culture
Chinese culture
Culture moderates the two mediation effects
Method
Participants
Measures
Analytical strategy
Results
Confirmatory factor analysis (CFA)
Construct validity
Measurement invariance
Common method variance (CMV)
Results of hypotheses testing
Hypothesis 1 (materialism and UCB)
Hypothesis 2 (sense of power as a mediator)
Hypothesis 3 (self-esteem as a mediator)
Hypothesis 4 (interaction effect between culture and sense of power)
Hypothesis 5 (interaction effect between culture and self-esteem)
Second-stage moderated mediation effects
Discussion
Theoretical contributions
Practical implications
Limitations
Conclusion
References
Chapter 22: Monetary wisdoms practical implications-Does mindfulness excite ethical intentions via diminished avaricious ...
Theory and hypotheses
Mindfulness
Mindfulness and consumer ethics
Avaricious monetary attitudes
Mindfulness and monetary attitudes
Monetary attitudes and consumer ethics
Mindfulness-based stress reduction (MBSR) training as a moderator
Post-training duration and mindfulness practice
Method
Participants
Measurements
Results
Hypotheses testing
Mediation effect
Moderation effect
With MBSR training vs. without MBSR training
Post-MBSR training duration (``short-term´´ vs. ``long-term´´)
Long-term MBSR training participants (with practice vs. without practice)
Discussion
Theoretical contributions
Practical contributions
Limitations and future research
Conclusion
Appendix
Items and constructs of our major measures
References
Chapter 23: Consumer behavioral economics and monetary wisdom-A penny saved is a penny earned: Monetary intelligence and ...
Introduction
Theory and hypotheses
Behavioral economics and the $.99 vs $.00 preferences
Monetary Intelligence (MI) vs Emotional Intelligence (EI)
The attitude toward money
The love of money and monetary intelligence
Emotional Intelligence
Gender
Emotional attachment, cognitive overload, and preference reversal
Methods
Participants
Measures
Data analysis strategies
Results
The measurement model (MI and EI)
MANOVA results of MI and EI across genders
Study 1
Fig. 5: MI, EI, and 10 products and services in 6 categories
Fig. 5 Across genders: Figs. 6 (males) and 7 (females)
Study 2
Fig. 8: A simplified EI-EI model with seven (7) diamond rings
Fig. 9: With five (5) diamond rings and a cheaper option
Fig. 10 with five (5) diamond rings and a pricier alternative
Fig. 10 across genders: Figs. 11 (males) and 12 (females)
Fig. 13: Three (3) diamond rings
Discussion
Conclusion
Appendix A
Monetary intelligence (Tang et al., 2018a)
Emotional intelligence (Wong and Law, 2002)
The context of positive feelings
Choices for products and services
References
Index
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