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Money Attitudes Comparison between Austrian and Albanian Students

Author

Listed:
  • Reinhard Furtner

    (University of Applied Sciences Burgenland, Eisenstadt, Austria; and University of Economics in Bratislava, Bratislava, Slovakia)

  • Elida Motro-Iljazi

    (University of Applied Sciences Burgenland, Eisenstadt, Austria; University of Economics in Bratislava, Bratislava, Slovakia; and Tirana Business University College, Tirana, Albania)

  • Eva Jančíková

    (University of Economics in Bratislava, Bratislava, Slovakia)

Abstract

Austria and Albania have substantial historical, cultural and economic differences. The purpose of this quantitative study was to compare money attitudes on the basis of the Money Attitudes Scale (MAS) between two samples of 98 Austrian and 80 Albanian students. Money attitudes and biographical data (gender, age, educational level, home university, nationality) were collected by an online questionnaire. The results were analyzed by descriptive (frequency tables, diagrams) and inferential (t-test for independent samples, effect size) statistical methods. Albanian students showed significantly stronger power and anxiety­oriented money attitudes while they focused less on the time­retention money dimension. No relevant differences were found regarding the distrust dimension. Furthermore, gender­related differences could be found. The study results thus provide a starting point for exploring and addressing the underlying causes of the identified differences. In addition, country-specific and gender-oriented business strategies (e.g. for marketing purposes) can be derived from the identified differences.

Suggested Citation

  • Reinhard Furtner & Elida Motro-Iljazi & Eva Jančíková, 2021. "Money Attitudes Comparison between Austrian and Albanian Students," Economic Research Guardian, Weissberg Publishing, vol. 11(1), pages 14-26, June.
    • Handle: RePEc:wei:journl:v:11:y:2021:i:1:p:14-26
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    References listed on IDEAS

    as
    1. Kavita Chavali & M. Prasanna Mohanraj, 2016. "Impact of Demographic Variables and Risk Tolerance on Investment Decisions: An Empirical Analysis," International Journal of Economics and Financial Issues, Econjournals, vol. 6(1), pages 169-175.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Money Attitudes; Biographical; Gender; MAS; Albania;
    All these keywords.

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • G51 - Financial Economics - - Household Finance - - - Household Savings, Borrowing, Debt, and Wealth

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