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

  • T. Tang

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    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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    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
    Contact details of provider: Web page: http://www.springerlink.com/link.asp?id=100281

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    1. 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.
    2. 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.
    3. 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.
    4. 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.
    5. 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.
    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. 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.
    8. 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.
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