Luigina Canova

THE LOVE OF MONEY IS THE ROOT OF ALL EVIL: PAY SATISFACTION AND CPI AS MODERATORS

By incorporating pay satisfaction at Level 1 and Corruption Perceptions Index (CPI) at Level 2, we investigated the relationship between the love of money and self-reported corrupt intent among 6,382 managers in 31 geopolitical entities across six continents. Our significant cross-level three-way interaction effect showed that for managers with high pay satisfaction, the intensity (slope) of the love of money to corrupt intent relationship was almost identical in high or low CPI entities but the former had the lowest magnitude of corrupt intent, whereas the latter had the highest. For those with low pay satisfaction, the slope was the steepest in high CPI entities, but was flat in the low CPI entities and the difference between the two was significant.

Monetary Intelligence and Behavioral Economics Across 32 Cultures: Good Apples Enjoy Good Quality of Life in Good Barrels

Abstract 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.

Verifica di un modello di previsione del comportamento di risparmio in studenti e non studenti

Aim of the present study is to test the validity of a prediction model for saving behavior based on the Model of Goal-directed Behaviour (MGB; Perugini e Bagozzi, 2001). A second aim is to test the invariance of the prediction processes in university students and non students. The research involved 241 students and 371 adults and has been carried out in two waves. The data have been analyzed by means of structural equation models. In each group, the hypothesized model shows a good fit to data and most of the predicted relations between constructs are significant and in the expected direction. The model explains 23% of the behavior variance for the students and 22% for the adults. The portion of variance of intention explained by antecedents variables is 39% for the adults and 59% for the students. The model invariance between the two groups was tested by means multi-sample procedure. The chi-square difference tests show that we cannot conclude that the prediction processes are statistically different between the two groups.