GDP · Konu · Gümüşhane Üniversitesi

Sürdürülebilir Kalkınma Amaçları

Yazarlar

Yayınlar

Yeniden eskiye Eskiden yeniye

Kitap BölümüYalnız künye2024/r/gumushane/12757
Behavioral economics and Monetary Wisdom across 32 cultures: Good apples enjoy a good quality of life in good barrels
Tang, Thomas Li-Ping; Sutarso, Toto; Ansari, Mahfooz A.; Lim, Vivien Kim Geok; Teo, Thompson Sian Hin; Arias-Galicia, Fernando; Garber, Ilya E.; Chiu, Randy Ki-Kwan; Charles-Pauvers, Brigitte; Luna-Arocas, Roberto
Monetary Wisdom asserts that individuals apply their deep-rooted values (ardent monetary aspirations) to frame critical concerns in the immediate-proximal and omnibus-distal contexts and strategically maximize expected utility (achieve financial goals) and ultimate serenity (happiness). This study explores the bright side of Monetary Wisdom and behavioral economics, frames money attitude in the context of pay and life satisfaction, and controls money at the micro and individual level (Z income within each country) and the macro and national and global level (GDP per capita). 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 6 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 the Happiness construct (money makes people happy). For the whole sample, low motives, high stewardship behaviors, and high cognitions identify the latent Monetary Wisdom (MW), which, in turn, leads to higher pay satisfaction than life satisfaction. Results of our formative model challenge the notion that motives and cognitions are consistent in predict outcomes. Our theoretical model across three GDP groups (high, medium, and low GDP levels) offers additional innovative discoveries: In high GDP (rich) entities, “high income” not only reduces aspirations—“Rich, Motivator, and Power,” but also promotes stewardship behavior—“Factors Budget, Give/Donate, and Contribute” and cognitive meaning, “Factor Achievement.” After controlling income, we demonstrate the bright side of Monetary Wisdom: Low love of money motive but high stewardship behavior define Monetary Wisdom, which contributes to higher life satisfaction than pay satisfaction. “Good apples enjoy a 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 in the high probability context). In medium GDP countries, high income is negatively related to Factors Motivator (motive), Budget (behavior), and Power (cognition). Managers enjoy higher life satisfaction than pay satisfaction. However, in low GDP (poor) entities, high income is related to poor Budgeting skills and escalated Happiness. Interestingly, income leads to the notion of high Happiness (cognition) for managers in low GDP countries only. Managers experience equal satisfaction with pay and life. Results of Monetary Wisdom add a new vocabulary to the conversation of monetary aspirations, intelligence, income, GDP, happiness, subjective well-being, good and bad apples, good and bad barrels, corruption, and behavioral ethics.
İncele
Kitap BölümüYalnız künye2024/r/gumushane/12731
Behavioral economics and Monetary Wisdom: The Enron Effect—Love of money, Corporate Ethical Values, Corruption Perceptions Index (CPI), and dishonesty across 31 geopolitical entities
Tang, Thomas Li-Ping; Sutarso, Toto; Ansari, Mahfooz A.; Lim, Vivien Kim Geok; Teo, Thompson Sian Hin; Arias-Galicia, Fernando; Garber, Ilya E.; Chiu, Randy Ki-Kwan; Charles-Pauvers, Brigitte; Luna-Arocas, Roberto
Monetary Wisdom asserts that individuals apply their deep-rooted values (the love of money attitudes, avaricious monetary aspirations) to frame critical concerns in the immediate-proximal and omnibus-distal contexts and strategically select certain options to maximize expected utility and ultimate serenity across context, people, and time at the individual, organizational, and national-global levels. This study explores the dark side of decision-making, e.g., avaricious monetary aspirations and corruption (dishonesty). Corruption involves greed, money, and risky decision-making. It is a risky prospect, involving a 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: Two levels of the subjective norm—perceived Corporate Ethical Values at the micro level (CEV, Level 1) and Corruption Perceptions Index at the macro level (CPI, Level 2), collected from multiple sources, jointly impact the magnitude and intensity of the relationships between love of money and dishonesty. Based on 6382 managers in 31 geopolitical entities across 6 continents, our cross-level three-way interaction effect illustrates the following discoveries: As expected, managers in good barrels (high CEV/high CPI), mixed barrels (low CEV/high CPI or high CEV/low CPI), and bad barrels (low CEV/low CPI) display a low, medium, and high magnitude of dishonesty, respectively. Context matters. With high CEV, the intensity is the same across cultures. With low CEV, the intensity of dishonesty is the highest in high CPI entities (risk seeking in the high probability context)—the Enron Effect, but the lowest in low CPI entities (risk aversion in the low probability context). Interestingly, 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 norms, revealing critical implications to the field of business ethics. This chapter makes robust theoretical and practical contributions to Monetary Wisdom and business ethics.
AtıfScopus2OpenAlex1
İncele
MakaleAçık Erişim2018Scopus SJRQ1/r/gumushane/10701
Monetary Intelligence and Behavioral Economics: The Enron Effect-Love of Money, Corporate Ethical Values, Corruption Perceptions Index (CPI), and Dishonesty Across 31 Geopolitical Entities
Tang, Thomas Li-Ping; Sutarso, Toto; Ansari, Mahfooz A.; Lim, Vivien K. G.; Teo, Thompson S. H.; Arias-Galicia, Fernando; Garber, Ilya E.; Chiu, Randy Ki-Kwan; Charles-Pauvers, Brigitte; Luna-Arocas, Roberto
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 (corruption). 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 (dishonesty) may reveal how individuals frame dishonesty in the context of two levels of subjective norm-perceived corporate ethical values at the micro-level (CEV, Level 1) and Corruption Perceptions Index at the macro-level (CPI, Level 2), 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 (high CEV/high CPI), mixed barrels (low CEV/high CPI or high CEV/low CPI), and bad barrels (low CEV/low CPI) 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 (risk seeking of high probability)-the Enron Effect, but the lowest in low CPI entities (risk aversion of low probability). 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.
AtıfScopus86WoS50OpenAlex102
İncele
MakaleAçık Erişim2018Scopus SJRQ1/r/gumushane/10699
Monetary Intelligence and Behavioral Economics Across 32 Cultures: Good Apples Enjoy Good Quality of Life in Good Barrels
Tang, Thomas Li-Ping; Sutarso, Toto; Ansari, Mahfooz A.; Lim, Vivien Kim Geok; Teo, Thompson Sian Hin; Arias-Galicia, Fernando; Garber, Ilya E.; Chiu, Randy Ki-Kwan; Charles-Pauvers, Brigitte; Luna-Arocas, Roberto
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) . 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.
AtıfScopus62WoS37OpenAlex71
İncele
MakaleAçık Erişim2013Scopus SJRQ2/r/gumushane/13202
Testing for causality between the foreign direct investment, current account deficit, GDP and total credit: Evidence from G7
Akbas, Yusuf Ekrem; Senturk, Mehmet; Sancar, Canan
In this study, countries were analyzed between 1990 and 2011 in order to determine whether a causal relationship exists among current account deficit, GDP, foreign direct investment, and total credits of G7. Analysis took into account the cross-sectional dependence and was applied to test the causality among the variables form the panel. Firstly, panel unit root tests were used for determining stationary of variables. As a result of the panel unit root tests, it was found that GDP and foreign direct investment have a stationary structure and that total credits and current account deficit contain unit root. In order to see whether there is a long-term relationship among the variables or not, the panel co-integration test was used. As a result of the test, it was concluded that there is a co-integration relationship among the series. The possibility of a causal relationship was analyzed among the variables using the causality test developed by Elena Ivona Dumitrescu and Christophe Hurlin (2012). Results of the analysis showed a unidirectional causal relationship from current account deficit and foreign direct investment to GDP. Bidirectional causality was found between current account deficit and total credits. Finally, a unidirectional relationship was found from foreign direct investment to current account deficit and total credits.
AtıfScopus25WoS26OpenAlex63
İncele