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Income and Quality of Life: Does the Love of Money Make a Difference?

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  • T. Tang

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    Abstract

    This paper examines a model of income and quality of life that controls the love of money, job satisfaction, gender, and marital status and treats employment status (full-time versus part-time), income level, and gender as moderators. For the whole sample, income was not significantly related to quality of life when this path was examined alone. When all variables were controlled, income was negatively related to quality of life. When (1) the love of money was negatively correlated to job satisfaction and (2) job satisfaction was positively related to both income and quality of life, income was negatively related to quality of life for full-time, high-income, and male employees. When these two conditions failed to exist, income was not related to quality of life for part-time, median- or low-income, and female employees. This model provides new insights regarding the impact of the love of money and job satisfaction on the income–quality of life relationship. Copyright Springer Science+Business Media, Inc. 2007

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    File URL: http://hdl.handle.net/10.1007/s10551-006-9176-4
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    Bibliographic Info

    Article provided by Springer in its journal Journal of Business Ethics.

    Volume (Year): 72 (2007)
    Issue (Month): 4 (June)
    Pages: 375-393

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    Handle: RePEc:kap:jbuset:v:72:y:2007:i:4:p:375-393

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    Web page: http://www.springerlink.com/link.asp?id=100281

    Related research

    Keywords: income; quality of life; the love of money; job satisfaction; employment status; income level; gender; marital status;

    References

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    1. Cohen-Charash, Yochi & Spector, Paul E., 2001. "The Role of Justice in Organizations: A Meta-Analysis," Organizational Behavior and Human Decision Processes, Elsevier, vol. 86(2), pages 278-321, November.
    2. Ed Diener & Ed Sandvik & Larry Seidlitz & Marissa Diener, 1993. "The relationship between income and subjective well-being: Relative or absolute?," Social Indicators Research, Springer, vol. 28(3), pages 195-223, March.
    3. Belk, Russell W, 1985. " Materialism: Trait Aspects of Living in the Material World," Journal of Consumer Research, University of Chicago Press, vol. 12(3), pages 265-80, December.
    4. Yuh-Jia Chen & Thomas Tang, 2006. "Attitude Toward and Propensity to Engage in Unethical Behavior: Measurement Invariance across Major among University Students," Journal of Business Ethics, Springer, vol. 69(1), pages 77-93, November.
    5. Itzhak Harpaz, 1990. "The Importance of Work Goals: An International Perspective," Journal of International Business Studies, Palgrave Macmillan, vol. 21(1), pages 75-93, March.
    6. Richins, Marsha L. & Rudmin, Floyd W., 1994. "Materialism and economic psychology," Journal of Economic Psychology, Elsevier, vol. 15(2), pages 217-231, June.
    7. Michael Eid & Ed Diener, 2004. "Global Judgments of Subjective Well-Being: Situational Variability and Long-Term Stability," Social Indicators Research, Springer, vol. 65(3), pages 245-277, February.
    8. M. Evans & Jonathan Kelley, 2004. "Effect of family structure on life satisfaction: australian evidence," Social Indicators Research, Springer, vol. 69(3), pages 303-349, December.
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    Citations

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    Cited by:
    1. Thomas Tang & Hsi Liu, 2012. "Love of Money and Unethical Behavior Intention: Does an Authentic Supervisor’s Personal Integrity and Character (ASPIRE) Make a Difference?," Journal of Business Ethics, Springer, vol. 107(3), pages 295-312, May.
    2. Thomas Tang & Toto Sutarso, 2013. "Falling or Not Falling into Temptation? Multiple Faces of Temptation, Monetary Intelligence, and Unethical Intentions Across Gender," Journal of Business Ethics, Springer, vol. 116(3), pages 529-552, September.
    3. Gasiorowska, Agata, 2011. "Czy dla każdego większa ilość pieniędzy oznacza lepszą sytuację finansową? Postawy wobec pieniędzy a spostrzeganie własnego dochodu
      [Is more money always equal to higher financial comfort
      ," MPRA Paper 44433, University Library of Munich, Germany.
    4. Gąsiorowska, Agata, 2008. "The Relationship of Income And Money Attitudes To Subjective Assessment of Financial Situation," MPRA Paper 18746, University Library of Munich, Germany.
    5. Thomas Tang & Toto Sutarso & Grace Davis & Dariusz Dolinski & Abdul Ibrahim & Sharon Wagner, 2008. "To Help or Not to Help? The Good Samaritan Effect and the Love of Money on Helping Behavior," Journal of Business Ethics, Springer, vol. 82(4), pages 865-887, November.
    6. Gasiorowska, Agata, 2008. "Różnice indywidualne jako determinanty postaw wobec pieniędzy
      [Individual differences as determinants of money attitudes]
      ," MPRA Paper 42684, University Library of Munich, Germany.
    7. Elisaveta Sardžoska & Thomas Tang, 2009. "Testing a Model of Behavioral Intentions in the Republic of Macedonia: Differences Between the Private and the Public Sectors," Journal of Business Ethics, Springer, vol. 87(4), pages 495-517, July.
    8. Elisaveta Sardžoska & Thomas Tang, 2012. "Work-Related Behavioral Intentions in Macedonia: Coping Strategies, Work Environment, Love of Money, Job Satisfaction, and Demographic Variables," Journal of Business Ethics, Springer, vol. 108(3), pages 373-391, July.
    9. Gasiorowska, Agata, 2013. "Skala Postaw Wobec Pieniędzy SPP: Konstrukcja i walidacja narzędzia pomiarowego
      [Money Attitudes Questionnaire MAQ: Development and validation of measurement scale]
      ," MPRA Paper 46515, University Library of Munich, Germany.
    10. Gasiorowska, Agata, 2013. "Skrócona wersja Skali Postaw Wobec Pieniędzy SPP-25. Dobór pozycji i walidacja narzędzia
      [Short version of Money Attitudes Questionnaire. Items selection and scale validation]
      ," MPRA Paper 48169, University Library of Munich, Germany, revised Apr 2013.
    11. Yuh-Jia Chen & Thomas Tang, 2013. "The Bright and Dark Sides of Religiosity Among University Students: Do Gender, College Major, and Income Matter?," Journal of Business Ethics, Springer, vol. 115(3), pages 531-553, July.
    12. Thomas Tang & Yuh-Jia Chen, 2008. "Intelligence Vs. Wisdom: The Love of Money, Machiavellianism, and Unethical Behavior across College Major and Gender," Journal of Business Ethics, Springer, vol. 82(1), pages 1-26, September.

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