China has achieved economic prominence but damaged the natural environment. Can religions excite pro-environmental actions? Chinese religion encompasses Buddhism, Christianity, Islam, native Taoism, and indigenous folk beliefs (GuanDi and Mazu). We theorize that believers demonstrate more sustainable HOPE (Help Ourselves Protect the Environment) than non-believers. Religions with standardized and formal liturgy show more pro-environmental HOPE than those without it. We challenge the myth that the believers of Christianity and Islam display more sustainable HOPE than other faith. The 2013 Chinese General (...) Social Survey (involving 10,017 randomly selected participants across 28 provinces) revealed that 11.10% of them have faith. Believers display higher levels of HOPE than atheists, demonstrating the __religion__ effect. Among believers, native Taoism and Buddhism exhibit more ecological HOPE than other religions, supporting the __dogma__ effect in the Chinese culture. Religions with formalized liturgy demonstrate more pro-environmental HOPE than generalized folk beliefs—GuanDi and Mazu, validating the __liturgy__ effect. Females, married, and people with good income, education, health, and country-domicile—the haves—exhibit robust ecological HOPE. The rich get richer and greener. However, those who are older, males, urban residents, and the Han majority do not. We empirically demonstrate the Matthew Effect in Religious Social Responsibility: Religious faith facilitates believers’ pro-environmental behaviors—HOPE and ethical behaviors in China. (shrink)

Robert King Merton’s article published in Science popularized the Matthew Effect: “For to everyone who has, more will be given and he will grow rich; but from the one who has not, even what he has will be taken away”. The Matthew Effect prevails at the individual, organization-industry, and country-global levels. This interdisciplinary review connects the Holy Bible with agency theory, tournament theory, corporate social responsibility, prospect theory, behavioral economics, the psychology of money, and business ethics in the literature. I (...) expand the Matthew Effect, incorporate prospect theory and the love of money, and develop a multi-level theory of the Matthew Effect in Monetary Wisdoms: Individual decision-makers apply their deep-rooted values as a lens, frame the critical concerns in the immediate and omnibus contexts, and maximize expected utility and ultimate serenity-happiness across people, context, and time at the individual, organization-industry, and country-global levels. The rich serve God, enjoying the ultimate joy and happiness. The poor serve mammon, destroying their lives. The rich get richer. The poor get poorer. Scholars of business ethics and CSR must explore this phenomenon in future studies. (shrink)

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 dark side of monetary Intelligence and behavioral economics—dishonesty. Dishonesty, a risky prospect, involves cost–benefit analysis of self-interest. We frame good or bad barrels in the environmental context as a proxy of high or low probability of getting caught for dishonesty, respectively. We theorize: The magnitude and intensity of (...) the relationship between love of money and dishonest prospect may reveal how individuals frame dishonesty in the context of two levels of subjective norm—perceived corporate ethical values at the micro-level and Corruption Perceptions Index at the macro-level, collected from multiple sources. Based on 6382 managers in 31 geopolitical entities across six continents, our cross-level three-way interaction effect illustrates: As expected, managers in good barrels, mixed barrels, and bad barrels display low, medium, and high magnitude of dishonesty, respectively. With high CEV, the intensity is the same across cultures. With low CEV, the intensity of dishonesty is the highest in high CPI entities —the Enron Effect, but the lowest in low CPI entities. CPI has a strong impact on the magnitude of dishonesty, whereas CEV has a strong impact on the intensity of dishonesty. We demonstrate dishonesty in light of monetary values and two frames of social norm, revealing critical implications to the field of behavioral economics and business ethics. (shrink)

In Study 1, we test a theoretical model involving temptation, monetary intelligence (MI), a mediator, and unethical intentions and investigate the direct and indirect paths simultaneously based on multiple-wave panel data collected in open classrooms from 492 American and 256 Chinese students. For the whole sample, temptation is related to low unethical intentions indirectly. Multi-group analyses reveal that temptation predicts unethical intentions both indirectly and directly for male American students only; but not for female American students. For Chinese students, both (...) paths are non-significant. Love of money contributes significantly to MI for all students. In Study 2, using money as a temptation and giving them opportunities to cheat on a matrix task, most Chinese students (78.4 %) do not cheat in open classrooms; supporting survey and structural equation modeling (SEM) results in Study 1. However, students in private cubicles cheat significantly more (53.4 %) than those in open classrooms (21.6 %). Finally, students’ love of money attitude predicts cheating. Factor rich predicts the cheating amount, whereas factor motivator predicts the cheating percentage. Our results shed new light on the impact of temptation and love of money as dispositional traits, money as a temptation, and environmental context (public vs. private) on unethical intentions and cheating behaviors. (shrink)

Based on theory of planned behavior, we develop a theoretical model involving love of money (LOM), job satisfaction (attitude), coping strategies/responses (perceived behavioral control), work environment (subjective norm), and work-related behavioral intentions (behavioral intention). We tested this model using job satisfaction as a mediator and sector (public versus private), personal character (good apples versus bad apples), gender, and income as moderators in a sample of 515 employees and their managers in the Republic of Macedonia. For the whole sample, both coping (...) strategies and helpful work environment were related to high job satisfaction. The relationship between work environment and job satisfaction was the strongest link in all subsequent analyses. High LOM is associated with unfavorable work environment for employees in the private sectors and people with low income and is positively associated with coping strategies for bad apples. A favorable work environment was related to less corrupt intent for people in the public sectors, good apples, and with low income, but not for their counterparts. Coping strategies were related to high job satisfaction for males, but not for females. Our counterintuitive results showed that bad apples’ high LOM was related to low corrupt intent. Our theoretical model sheds new light and provides novel theoretical, empirical, and practical implications to Macedonian managers’ corrupt intent. (shrink)

We investigate the extent to which perceptions of the authenticity of supervisor’s personal integrity and character (ASPIRE) moderate the relationship between people’s love of money (LOM) and propensity to engage in unethical behavior (PUB) among 266 part-time employees who were also business students in a five-wave panel study. We found that a high level of ASPIRE perceptions was related to high love-of-money orientation, high self-esteem, but low unethical behavior intention (PUB). Unethical behavior intention (PUB) was significantly correlated with their high (...) Machiavellianism, low self-esteem, and low intrinsic religiosity. Our counterintuitive results revealed that the main effect of LOM on PUB was not significant, but the main effect of ASPIRE on PUB was significant. Further, the significant interaction effect between LOM and ASPIRE on unethical behavior intention provided profoundly interesting findings: High LOM was related to high unethical behavior intention for people with low ASPIRE, but was related to low unethical intention for those with high ASPIRE. People with high LOM and low ASPIRE had the highest unethical behavior intention; whereas those with high LOM and high ASPIRE had the lowest. We discuss results in light of individual differences, ethical environment, and perceived demand characteristics. (shrink)

Using a Solomon four-group design, we investigate the effect of a case-based critical thinking intervention on students’ critical thinking skills. We randomly assign 31 sessions of business classes to four groups and collect data from three sources: in-class performance, university records, and Internet surveys. Our 2 × 2 ANOVA results showed no significant between-subjects differences. Contrary to our expectations, students improve their critical thinking skills, with or without the intervention. Female and Caucasian students improve their critical thinking skills, but males (...) and non-Caucasian do not. Positive performance goals and negative mastery goals enhance and decrease improvements of their CTA scores, respectively. ACT and age are related to pre- and post-test. Gender is related to pre-test. GPA is related to post-test. Results shed light on the Pygmalion effect, the Galatea effect, ability, motivation, and opportunity as signals for human capital, and business ethics. (shrink)

Research suggests a direct negative relationship between peers’ unethical behavior and employees’ ethical intention. But several possible mechanisms might explain this relationship in more detail. For example, Machiavellianism is a personality trait characterized by interpersonal manipulation and the use of unethical means to achieve certain self‐interested ends, whether useful or pleasant. This article adopts an Aristotelian understanding of philia, related to three goods on which human relationships rest: useful, pleasant, and honest. We propose that Machiavellianism, a self‐interested, pragmatic personality orientation, (...) might explicate the relationship between peers’ unethical behavior and ethical intention. The results of a structural equation model applied to a sample of 436 banking employees in Spain reveals that Machiavellianism partially mediates the relationship between peers’ unethical behavior and employees’ ethical intention. We also find that with a greater level of peers’ unethical behavior, the negative effect of Machiavellianism on ethical intention increases, and that when peers’ unethical behavior is nonexistent, the negative effect of Machiavellianism on ethical intention disappears. These findings advance current literature by revealing that unethical peers can indirectly influence ethical intention, through shaping Machiavellianism. Our study is also the first to show that pairing high Machiavellians with ethical peers can help to cancel out the negative influence of Machiavellianism on ethical intention. (shrink)

The majority of traditional students enrolled at most colleges and universities are a part of what has been termed the Millennial Generation, also known as Generation Y, which typically describes the group of individuals born in most of the 1980s and 1990s. This cohort’s life has been shaped by corporate scandals, economic instability, and worldwide tragedies. Concurrently, business ethics has become a popular topic in the news within the last 2 decades due to the increase in the number of high-profile (...) business scandals. Unfortunately, this trend has also been accompanied by an increased number of reported incidents of academic dishonesty at many major universities. Two underresearched factors that may be related to academic dishonesty and cheating behavior are religiosity and spirituality. This article attempts to shed more light on the relationship between religious beliefs and unethical behavior, with a focus on millennial college students. It is posited that religiosity and spirituality influence an individual’s attitudes, views, decisions, and ultimately behaviors. The results of this study indicate that religiosity but not spirituality is a predictor of students’ attitudes toward cheating and cheating behavior. (shrink)

Mindfulness—the awareness of the present moment and experiences in daily life—contributes to genuine intrinsic and social-oriented values and curbs materialistic and hedonistic values. In the context of materialism, money is power. Avaricious individuals take risks and are likely to engage in dishonesty. Very little research has investigated the effects of mindfulness in reducing the avaricious monetary attitudes and enhancing ethical consumer beliefs. In this study, we theorize that mindfulness improves consumer ethics directly and indirectly by lowering avaricious monetary attitudes. To (...) test our theory, we collected data from 523 individuals with the Mindfulness-Based Stress Reduction training and 307 individuals without MBSR. The results of our whole sample support our theory. Three multiple-group confirmatory factor analyses reveal intriguing discoveries. First, with MBSR training, mindfulness excites consumer ethical beliefs directly and indirectly. Without training, trait mindfulness fails to reduce monetary attitudes—mindfulness training matters. Second, the power of MBSR training holds for participants completing the training within 1 year, but wears off after 1 year—the duration after training matters. Finally, after 1 year, the training retains its strength for those who practice mindfulness, but weakens its power for those who do not—practice matters. We shed light on mindfulness, monetary wisdom, and consumer ethics, in particular, and business ethics, in general. (shrink)

Can managers detect honest people’s lies in a handwritten message? In this article, I will briefly discuss graphology and a basic model of interpersonal communication. I will then develop a fundamental theoretical framework of eight principles for detecting lies based on the basic communication model, handwriting analyses, and the following assumptions: For most people, it is easier to tell the truth than to tell lies. This applies to handwritings also. When most honest people lie, they try to hide their stressful (...) emotions in the encoding process. As a consequence, they deviate from their own normal writing and violate their own personal moral standards. Interestingly enough, the art or science of detecting a lie in a handwritten sample is to focus not on what they write, but on how they write it. These 24 exhibits (cases) written in 11 languages—used in different parts of the world—help managers apply this important theoretical framework of interpersonal communication, understand the encoding process, pinpoint these sudden emotional changes, decode handwritten messages, unlock the secrets, reveal the message’s true meanings, and detect people’s lies. (shrink)

Youth materialism excites adolescents’ unethical consumer beliefs (UCB-dishonesty). We develop a second-stage moderated mediation model, investigate the relationships between materialism and Generation Z teenagers’ consumer ethics (UCB-dishonesty), and treat two self-concept mechanisms (power and self-esteem) as dual mediators and culture as a moderator (China vs. France). We theorize that materialism enhances power (public self) and reduces self-esteem (private self). French adolescents’ sense of power increases UCB more than their Chinese counterparts. Chinese teenagers’ self-esteem reduces UCB more than their French counterparts. (...) We challenge the assumption that the interaction effects between consumers’ self-concepts and UCB are the same across cultures. We offer the following discoveries based on 1,005 (409 Chinese and 596 French) adolescents. First, the measurement model of consumer ethics with four subconstructs is superior to the model with one overall construct. Second, a sense of power and self-esteem mediate the relationships between youth materialism and consumer ethics, creating two positive and negative paths for power and self-esteem, respectively. Third, French adolescents display a higher magnitude and positive intensity between adolescents’ power (public self) and UCB-dishonesty than their Chinese counterparts across all four subconstructs. Chinese teenagers illustrate a lower magnitude but a higher negative intensity between self-esteem and UCB than their French counterparts across three subconstructs, with one exception: Adolescents’ self-esteem has no impact on “no harm, no foul” across cultures. Neither buyers nor sellers experience substantial financial gains or losses. Finally, cultures moderate the second-stage mediation effects. Scholars must enhance adolescents’ self-esteem and curb their power to promote honesty. We offer implications for materialism, consumer ethics, self-concepts, and culture for consumers and retailers. (shrink)

Despite the long history of career research in the literature (Guerrier, 1987; Siu et al., 1997), researchers have largely neglected the dark sides of the antecedents and consequences of career amb...

Niccolò Machiavelli is credited with inspiring the MACH IV personality assessment instrument, which has been adopted widely in management, both public and private. The personality this instrument maps is manipulative, deceitful, immoral, and self-centred. The instrument emerged in 1970 and created a minor industry. There are at least eighty empirical studies in management that involved more than 14,000 subjects. Richard Christie, who created the scale, has said that it is derived from the works of Machiavelli. In a standard debriefing after (...) completing this scale, respondents would be told it concerns the Machiavellian personality. We argue that the Machiavellian personality in MACH IV has little, if anything, to do with Machiavelli, either the man or his works. If Machiavelli is alleged to be relevant to management, we argue that this personality assessment instrument does not demonstrate such relevance. To advance this case we first describe the development of the instrument, identifying some of the assumptions upon which it rests; then we assess each of its twenty items against Machiavelli’s texts. Wefind fewer than half of the items have even a tenuous connection with Machiavelli’s works, yet the instrument bears his name. Against this spurious Machiavelli we juxtapose another twenty passages from The Prince, showing a much more complex and subtle thinker than the one-dimensional cipher in the MACH IV scale. Machiavelli studies have done much to dispel the cloud of mythology around the man and his reputation, and we hope to do the same to MACHIV. In the name of intellectual honesty and sound scholarship, we urge management scholars to take note of this distortion of Machiavelli, and where possible address it, and that users of the MACH IV scale distinguish the man, Machiavelli, and his works from this instrument. (shrink)

Adolescents have increasing discretionary income, expenditures, and purchasing power. Inventory shrinkage costs $123.4 billion globally to retail outlets. Adolescents are disproportionately responsible for theft and shoplifting. Both parents and peers significantly influence adolescents’ monetary values, materialism, and dishonesty as consumers. In this study, we develop a theoretical model involving teenagers’ social attachment and their consumer ethics, treat adolescents’ money attitude in the context of youth materialism as a mediator, and simultaneously examine the direct and indirect paths. Results of 1018 adolescents (...) illustrate that social attachment discourages unethical beliefs directly, but encourages it indirectly through monetary values. Our multi-group analyses demonstrate a novel paradox: The correlation between parental and peer attachments is smaller in France than in China, but similar across gender. Parents contribute more than peers to social attachment in France, but both carry equal weight in China. There is a negative direct path for the Chinese sample and for girls. Indirectly, parental attachment prevents French teenagers’ unethical beliefs, whereas peer attachment promotes boys’ unethical intention, supporting the notion—bad company corrupts good morals. Across both culture and gender, monetary attitude excites dishonesty consistently for all adolescents. A negative direct path exists for Chinese boys only. Overall, social attachment reduces unethical beliefs. Parental and peer supports shape teenagers’ monetary intelligence and ethical or unethical decision making, differently, across culture and gender. We provide theoretical, empirical, and practical implications to ethical parenting, peer attachment, monetary values, and business ethics. (shrink)

We develop a theoretical model involving religiosity [intrinsic (I), extrinsic-social (E s), and extrinsic-personal (E p), Time 1], Machiavellianism (Time 2), and propensity to engage in unethical behavior (Time 2) to investigate direct and indirect paths. We collected two-wave panel data from 359 students who had some work experiences. For the whole sample, intrinsic religiosity (I) indirectly curbed unethical intentions through the absence of Machiavellianism, the bright side of religiosity. Both extrinsic-social (E s) and extrinsic-personal (E p) directly, while extrinsic-social (...) (E s) indirectly, exacerbated unethical intentions, the dark side of religiosity. Multiple-group analyses across gender, college major, and income showed that the bright side existed directly for low-income students, but indirectly for males and females, business majors, and low-income students. Our novel finding showed that E p undermined unethical intentions indirectly for females. For the dark side, E s incited unethical intentions directly for males, business students, and low-income individuals, but indirectly for females, psychology majors, and low-income people. The Machiavellianism–unethical intentions relationship was the strongest for high-income participants. Religiosity had the highest number of significant paths for low-income individuals and the strongest dark side for males and high-income students, but the highest bright outcome for females. Our novel, original findings foster theory development and testing, add new vocabulary to the conversation of religiosity and unethical intentions, and improve practice. (shrink)

Slight absolute changes in the Shanghai Stock Exchange Index (SHSE) corresponded to the city’s immediate increases in coronary heart disease deaths and stroke deaths. Significant fluctuations in the Shenzhen Stock Exchange Index (SZSE) corresponded to the country’s minor, delayed death rates. Investors deal with money, greed, stock volatility, and risky decision-making. Happy people live longer and better. We ask the following question: Who are the investors with the highest and most sustainable stock happiness, and why? Monetary wisdom asserts: Investors apply (...) their deep-rooted values (avaricious love-of-money aspiration and locus of control, Level 2) as a lens to frame critical concerns in the proximal-immediate (Shanghai Stock Exchange Index changes, Level 1) and the omnibus-distal contexts (domicile: city vs. country, Level 2) to maximize expected utility (portfolio changes, Level 1) and ultimate serenity (stock happiness, Level 1). We collected multilevel data—the longitudinal SHSE and 227 private investors’ daily stock happiness and portfolio changes for 36 consecutive trading days in four regions of China. Investors had an average liquid asset of $76,747.41 and $54,660.85 in stocks. This study is not a “one-shot” game with “nothing at stake.” We classified Shanghai and Beijing as the city and Shenzhen and Chongqing as the country. Our cross-level 3-D visualization reveals that regardless of SHSE volatility, investors with low aspiration, external control, and country domicile enjoy the highest and most sustainable stock happiness with minimum fluctuations. Independently, investors with low aspiration, external control, and country domicile tend to make fewer portfolio changes than their counterparts. Behaviorally, less is more, debunking the myth—risky decisions excite stock happiness. Our longitudinal study expands prospect theory, incorporates attitude toward money, and makes robust contributions to behavioral economics and business ethics. We help investors and ordinary citizens make happy, healthy, and wealthy decisions. Most importantly, the life you save may be your own. (shrink)

We revisit religiosity, gender, age, ethics education and experience as drivers of ethicality, while expanding prior research from Anglo-Saxon and Asiatic/Euro-Asiatic countries to a Latin European country, Portugal. We apply the Merchant instrument of attitudes towards earnings management, in a sample of Portuguese accounting students and alumni. We find no significant evidence of a positive association between religiosity and accountants’ judgments on earnings management. However, gender, age, education and experience are significant predictors of accountants’ judgments. The results are unchanged when (...) we control for the intent of earnings management. Females, older individuals and alumni judge accounting earnings management more harshly than males, younger individuals, and students. A higher level of accounting work experience induces accountants to judge accounting earnings management as a less ethically questionable practice. This finding is theoretically relevant because it underscores the necessity of taking people’s constraints in the workplace into consideration when studying ethical behavior in business contexts. The results are also practically relevant, as they highlight the importance of a systematic ethics education throughout the accountant’s life. (shrink)

Most studies investigating the relationship between cultural constructs and ethical perception have focused on individual- and societal-level values without much attention to other type of cultural constructs such as social beliefs. In addition, we need to better understand how social beliefs are linked to ethical perception and the level of analysis at which social beliefs may best predict ethical perceptions. This research contributes to the cross-cultural ethical perception literature by examining the relationship of individual-level social cynicism belief, one of five (...) universally endorsed social beliefs, together with individual social dominance orientation and the perception of unethical behavior. By means of two studies, we examine these relationships across societies that significantly differ on societal-level social cynicism belief. Using 371 business students from Russia and the U.S. in Study 1 and 268 professionals from Portugal and the U.S. in Study 2, we found that individual-level social cynicism belief was positively associated with social dominance orientation. Social dominance orientation, in turn, mediated the relationship between individual social cynicism belief and the perception of unethical behavior. Although we found significant societal-level differences in social cynicism belief in both studies, the relationships between individual-level social cynicism belief, social dominance orientation, and the perception of unethical behavior were structurally equivalent across societies in both studies, suggesting that societal-level differences did not significantly affect these relationships. Implications for cross-cultural business ethics research and practice are discussed. (shrink)

This study explores the effect of a short ethics intervention—a chapter of business ethics in a business course—on perceptions of business courses and personal values toward making money and making ethical decisions and Monetary Intelligence. Since attitudes predict intentions and behaviors, Monetary Intelligence, a form of social intelligence, is defined as the extent to which individuals monitor their own monetary motive, behavior, and cognition; apply the information to evaluate critical concerns and options; select strategies to achieve financial goals; and reach (...) ultimate success and subjective well-being. I theorize that the affective aspect of MI is unrelated to perceptions of “course work,” yet it is positively related to their “personal values” toward making money, but negatively related to making ethical decisions. Individuals with high MI have low interests in making money, but high levels of intrinsic religiosity and recall of the Ten Commandments and high interests in making ethical decisions and making the grade. Based on data from multiple panels and multiple sources, this study provides the following discoveries. Contrary to expectations, there are no differences in students’ perceptions of course work and their personal values toward making money and making ethical decisions between two measures—before and after the ethics intervention. Results of this study not only provide empirical supports for the bright side of theory of Monetary Intelligence but also reveal a new paradox—recall of the Ten Commandments is positively related to making ethical decisions, but negatively related to making money. Results illustrate important theoretical, empirical, and practical implications to the literature of money attitudes, religiosity, intrinsic motivation, and business ethics. (shrink)

We develop a theoretical model, explore the relationship between temptation (both reflective and formative) and unethical intentions by treating monetary intelligence (MI) as a mediator, and examine the direct (temptation to unethical intentions) and indirect (temptation to MI to unethical intentions) paths simultaneously based on multiple-wave panel data collected from 340 part-time employees and university (business) students. The positive indirect path suggested that yielding to temptation (e.g., high cognitive impairment and lack of self-control) led to poor MI (low stewardship behavior, (...) but high cognitive meaning) that, in turn, led to high unethical intentions (theft, corruption, and deception). Our counterintuitive negative direct path revealed that those who controlled their temptation had high unethical intentions. Due to the multiple faces of temptation (the suppression effect), maliciously controlled temptation (low cognitive impairment and high self control) led to deviant intentions. Subsequent multi-group analysis across gender (a moderator) reformulated the mystery of temptation: a negative direct path for males, but a positive indirect path for females. For males, the negative direct path generated a dark impact on unethical intentions; for females, the positive indirect path did not, but offered great implications for consumer behavior. Both falling “and” not falling into temptation led to unethical intentions which varied across gender. Our counterintuitive, novel, and original theoretical, empirical, and practical contributions may spark curiosity and add new vocabulary to the conversation regarding temptation, money attitudes, consumer psychology, and business ethics. (shrink)

Research suggests that attitudes guide individuals’ thinking and actions. In this study, we explore the monetary intelligence construct and investigate the relationships between a formative model of money attitudes involving affective, behavioral, and cognitive components and several sets of outcome variables—unethical intentions, intrinsic and extrinsic job satisfaction, and coping strategies. Based on 515 managers in the Republic of Macedonia, we test our model for the whole sample and also cross sector and gender. Managers’ negative stewardship behavior and positive cognitive meaning (...) of money define MI which, in turn, is related to unethical intentions. Positive cognition in the public sector and poor stewardship behavior in the private sector contribute to unethical intentions, respectively. Good stewards have higher intrinsic and lower extrinsic job satisfaction, those in the private sector, in particular. Affective motive and stewardship behavior are related to their stronger “approach” coping strategies and weaker “avoidance” coping strategies. Affective motive and stewardship behavior contribute to coping responses for managers in the public and private sectors, respectively. Further, the relationship between stewardship behavior and coping mechanisms exists for females, but not for males. We demonstrate that MI, a type of social intelligence, allows individuals to monitor their own emotions, behaviors, and cognitions and guides their thinking and actions. (shrink)

In this study, we develop a theoretical model of monetary intelligence (MI), explore the extent to which individuals’ meaning of money is related to the pursuit of materialistic purposes, and test our model using the whole sample and across college major and gender. We select the 15-item love of money (LOM) construct—Factors Good, Evil (Affective), Budget (Behavioral), Achievement, and Power (Cognitive)—from the Money Ethic Scale and Factors Success and Centrality and two indicators—from the Materialism Scale. Based on our data collected (...) from 330 university students in Czech Republic, we provide the following findings. First, our formative models are superior to our reflective models. Second, for the reflective model, money represents Power, Good, Achievement, and not Evil, in the context of materialism. Our formative model suggests that those who pursuit materialism cherish Achievement (vanity) but Budget their money poorly. Third, multi-group analyses illustrate that humanities students (62.4 % female) consider money as Evil and Budget their money poorly, while those in natural sciences (37.6 % female) do not. Further, men are obsessed with Achievement, whereas women do not Budget their money properly, suggesting reflective temptation for males and impulsive temptation for females. Our novel discoveries shed new lights on the relationships between LOM and materialism and offer practical implications to the field of consumer behavior and business ethics. (shrink)