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1 – 10 of over 35000Godfred Matthew Yaw Owusu, Rita Amoah Bekoe, Nana Adwoa Anokye Effah and Octavia Ama Serwaa Otchere
This paper aims to examine the attitude of accounting students towards money and their ethical perceptions, and ascertains whether ethical perception of students could be…
Abstract
Purpose
This paper aims to examine the attitude of accounting students towards money and their ethical perceptions, and ascertains whether ethical perception of students could be influenced by their attitudes towards money.
Design/methodology/approach
A survey method of research was adopted, and a set of questionnaires based on the money ethic scale (MES) and existing ethical scenarios was administered to the target respondents. The MES was subjected to an exploratory factor analysis to examine its dimensionality and, by means of a cluster analysis, the respondents were classified based on similarities in attitude towards money. The relationship between attitude towards money and ethical perception was ascertained by means of a multivariate analysis of variance (MANOVA) test.
Findings
The results suggest the respondents are generally ethically oriented and that the females are more ethical than males. Differences exist in terms of the attitude of respondents towards money and the MANOVA results show that money attitudes are good predictors of ethical perceptions of students.
Research limitations/implications
Findings of this study demonstrate that an understanding of individuals' attitude towards money may be an important way of predicting how they will behave when faced with ethical dilemmas.
Originality/value
The analysis makes an important contribution to prior literature by highlighting the effect of money attitude on ethical perception.
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Lee Soo Hoon and Vivien K.G. Lim
Examines the extent to which individuals’ attitudes towards money and work are affected by their country’s economic performance. A group of Singaporean youths’ attitudes towards…
Abstract
Examines the extent to which individuals’ attitudes towards money and work are affected by their country’s economic performance. A group of Singaporean youths’ attitudes towards money and work before and after the July 1997 Asian economic crisis is examined. A group of Thai youths’ attitudes towards money and work following the start of the economic crisis were also examined and compared with those of the post‐crisis Singaporean youth sample. By contrasting the attitudes of the Thais and Singaporeans, the results allow an assessment of people’s attitudes towards money and work given the different level of severity in economic conditions faced by the countries in Southeast Asia. In conclusion, recommendations are made concerning how to manage Thais and Singaporeans in the face of negative catastrophic economic conditions.
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Various research studies in the past have found biological gender to be a differentiator for money attitudes. However, the beliefs and attitudes that people have towards money can…
Abstract
Purpose
Various research studies in the past have found biological gender to be a differentiator for money attitudes. However, the beliefs and attitudes that people have towards money can also be the result of the gender socialisation, which may have a greater impact on how one relates to money. Since, gender is an important aspect for understanding financial choices and decisions, it becomes pertinent to learn as to which aspect of gender, the biological or the psychological, impact the money attitudes and beliefs that a person holds. The purpose of this paper is to address this issue.
Design/methodology/approach
This empirical work attempts to understand gender differences in money attitudes from the biological gender and psychological gender perspective. The Bem Sex Role Inventory (BSRI) and Tang's money ethic scale (MES) were used for this study. The hypotheses raised were tested on a sample of 224 respondents from India.
Findings
The results suggested that money attitudes can be better understood when seen from the lens of psychological gender and not biological gender. Further, androgyny individuals were found to exhibit more balance in their money attitude dimensions than masculine or feminine individuals.
Originality/value
Belief and attitudes towards money would impact how contented people are with the compensation they receive, their financial planning choices and also their financial well-being. This insightful study adds to the scant literature that exists on understanding money attitudes from psychological gender perspective and would pave the way for more work in this area.
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Srinivas Durvasula and Steven Lysonski
China is undergoing a radical change as the forces of industrialization and modernization transform its society. Money is taking on an increasingly important role, particularly…
Abstract
Purpose
China is undergoing a radical change as the forces of industrialization and modernization transform its society. Money is taking on an increasingly important role, particularly among young Chinese, as the Western ideals of individualism and hedonism thrive. The goal of this research is to understand attitudes towards money in China and how these attitudes affect elements of consumer behavior such as materialism and vanity.
Design/methodology/approach
The paper uses a well‐accepted scale (with several dimensions) to explore attitudes towards money. Research questions examine how the dimensions of attitudes towards money affect materialism and achievement vanity. The sample comprises 127 young Chinese consumers. Statistical results based on confirmatory factor analysis as well as path analysis are reported.
Findings
The findings clearly show that attitudes towards money in China are not monolithic; instead there are variations among young Chinese. Materialism is affected by the power‐prestige and anxiety dimensions, but unaffected by the distrust dimension of money attitudes. Achievement vanity is affected by the power‐prestige dimension of money attitudes.
Research limitations/implications
Future research could examine other developing countries and other generational consumer segments. Another future research topic is to develop a comprehensive model of money attitudes, materialism, vanity, compulsive buying, and their possible antecedents or moderators.
Practical implications
These findings offer insight into the mindset of young Chinese. Beliefs that money permits one to attain not only status and possessions, but also power and control over others are contributing to increased materialism and expressions of vanity among young Chinese. For marketers, the results imply that positioning products based on the possession of money and the use of this money to indulge hedonism may resonate well with young Chinese consumers. However, some of the relationships we found may cause concern to ethicists and consumer watchdogs because of the associated problems of compulsive buying and other problems which are prevalent in consumer societies.
Originality/value
So far, no study has examined whether money attitudes drive materialism and achievement vanity, especially among younger consumers in developing countries such as China.
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Kirti Goyal, Satish Kumar and Arvid Hoffmann
Prior work expresses concern about young people's rising debt and lack of financial preparedness. This study focuses on how financial socialization and psychological…
Abstract
Purpose
Prior work expresses concern about young people's rising debt and lack of financial preparedness. This study focuses on how financial socialization and psychological characteristics affect the personal financial management behavior (PFMB) of young professionals in India. The authors examine both the direct effect of these factors and the indirect effects through financial literacy and aforementioned psychological characteristics as mediators.
Design/methodology/approach
The authors develop a conceptual framework based on the extant literature and empirically test its hypotheses employing partial least squares structural equation modelling (PLS-SEM).
Findings
Attitude towards money, financial self-efficacy, financial risk tolerance, financial socialization through parental direct teaching and peers, and media are all positively associated with young professionals' PFMB, whereas external locus of control and procrastination are negatively associated with their PFMB. Almost all psychological characteristics partially mediate the association between financial socialization and PFMB. Finally, financial literacy plays a partially mediating role in the association between procrastination and PFMB as well as between financial socialization and PFMB.
Practical implications
This study helps regulators and policymakers understand PFMB among young professionals. Interventions should build on the positive role of financial socialization, cultivating a good attitude towards money and financial self-efficacy, and reducing reliance on an external locus of control and procrastination. This study also helps policymakers and financial educators develop societally beneficial personal finance programs.
Originality/value
This research investigates social, psychological and cognitive characteristics in a comprehensive framework to further the authors’ understanding of the topic of PFMB.
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Bruce Kirkcaldy, Adrian Furnham and Terence Martin
Several hundred German parents completed a questionnaire to assess their attitudes towards pocket money and economic socialisation. In addition trait competitiveness and…
Abstract
Several hundred German parents completed a questionnaire to assess their attitudes towards pocket money and economic socialisation. In addition trait competitiveness and occupational stress were measured. Demographic variables were less predictive of competitiveness compared to psychological/attitudinal factors. The more competitive oriented parents displayed a distinct monetary attitude profile: they were less liberal, more structured and budget‐oriented. They used money significantly more as a reinforcer for educational purposes, e.g. educational or scholarly success, and as an instrument to teach autonomy. Subjectively perceived occupational stress was determined by diverse socio‐demographic variables, although the stress‐demographic relationship was moderated by gender. Older fathers and men from a poor social‐economic background (as children) tended to show greater job‐related stress. Conversely, mothers from “superior” SES, with more siblings, and fewer children of their own, reported more occupational stress.
Ian Phau and Charise Woo
The purpose of this paper is to investigate money attitudes and credit card usage, between compulsive and non‐compulsive buyers, of young Australians. It also serves to validate…
Abstract
Purpose
The purpose of this paper is to investigate money attitudes and credit card usage, between compulsive and non‐compulsive buyers, of young Australians. It also serves to validate the money attitude scale (MAS) using an Australian sample.
Design/methodology/approach
Data were collected using a mall intercept method in a major shopping complex in Perth, Western Australia. A self‐administered questionnaire was distributed and recorded a response rate of 18 per cent.
Findings
Compulsive buyers are more likely to perceive money as a source of power and prestige. They are also more frequent users of credit cards and are more likely to bargain hunt. There are no differences between compulsive and non‐compulsive buyers for the dimensions of time retention, distrust, and anxiety of the MAS.
Research limitations/implications
The study has only captured young adult Australians and should not be generalized across other demographics and national consumers. Studies on compulsive behaviour of online shopping and a comparison between fashion and non‐fashion related variables could also be explored.
Practical implications
Firms should consider using advertising campaigns that portray images of status and prestige in order to appeal to young adults. They could utilize aggressive in‐store promotion and selling techniques and highlight the discount or best buy slogans. For the credit card companies and banks, word‐of‐mouth through family and friends are better promotional tools to attract users. Marketers and policy makers are recommended to incorporate consumer education programs for young adults to build skills to counter financial problems.
Originality/value
This is the first Australian study that examined money attitudes, credit card usage and compulsive behaviour. Further the MAS scale is validated with the addition of the “bargain hunting” variable.
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Gbolahan Gbadamosi and Patricia Joubert
This study aims to investigate perception of ethical and moral conduct in the public sector in Swaziland, specifically, the relationship among: money ethic, attitude towards…
Abstract
Purpose
This study aims to investigate perception of ethical and moral conduct in the public sector in Swaziland, specifically, the relationship among: money ethic, attitude towards business ethics, corruption perception, turnover intention, job performance, job satisfaction, and the demographic profile of respondents.
Design/methodology/approach
The study was a survey using self‐administered questionnaires. Using stratified sampling technique in selected organisations, usable data were collected from 83 public sector employees in Swaziland.
Findings
Results indicated significant relationship among money ethic, attitude towards business ethics, turnover intention and job performance. The importance of money as a motivator was also demonstrated. Respondents hold that civil servants' involvement in corruption is high and that bribery and corruption is widespread in Swaziland.
Research limitations/implications
The sample size was small and hence limits generalisation of findings, but provides preliminary information for a larger study. The need to enrich future studies with in‐depth follow‐up interviews was noted.
Practical implications
The respondents' perception of widespread corruption calls for a reinvigoration of government anti‐graft efforts and the need to promote ethical consciousness in the country.
Originality/value
This paper has demonstrated the importance of ethical awareness, the importance of money as a motivator and the state of corruption in another cultural setting – Swaziland.
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Emanuela Rinaldi and Elena Giromini
Explores the attitudes of Italian children to money, with reference to US research which indicates a significant difference between boys and girls. Tests five hypotheses relating…
Abstract
Explores the attitudes of Italian children to money, with reference to US research which indicates a significant difference between boys and girls. Tests five hypotheses relating to gender differences in respect to money: boys are more positive in their attitudes to it, girls would be uncomfortable talking about it, men rather than women are seen by children as economically successful, sons rather than daughters would try to emulate their fathers’ economic status, and these gender differences might increase through adolescence. Explains the methodology of the study, and relates the findings to Italian society and the Catholic religion. Contrasts the attitudes of Italian parents to boys and girls regarding money: boys are more likely to receive regular pocket money and be expected to achieve highly paid jobs, whereas girls tend to value family or more creative activities.
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While researching a recent money‐laundering compliance project, it became clear that, even after three years of practical exposure to the Money Laundering Regulations, there was…
Abstract
While researching a recent money‐laundering compliance project, it became clear that, even after three years of practical exposure to the Money Laundering Regulations, there was still a disparate cross‐section of attitudes towards the law and its implementation, among those men and women appointed to the role of Money Laundering Reporting Officers (MLROs). Recognising that it is the responsibility of these individuals, to ensure a willing and uniform compliance with the law on behalf of their employing institutions, it was felt that the time was right to conduct a survey, not of their direct understanding of the Regulations, of which it was accepted they would all have a good knowledge; but of their appreciation of some of the peripheral aspects of the rapidly developing impact of international money‐laundering law. The aim was to examine their attitudes towards specific aspects of ensuring the provision of good compliance, and to ascertain whether there were any other areas of compliance in which further training was particularly identified as being necessary.