Evidence that time perspective factors depend on the group: Factor analyses of the CFC and ZTPI scales with professional financial advisors

Abstract

The Consideration of Future Consequences (CFC) Scale (Strathman, Gleicher, Boninger, & Edwards, 1994) and the Zimbardo Time Perspective Inventory (ZTPI) (Zimbardo & Boyd, 1999) have been used in a large body of research examining the impact of time perspective on behavior across a variety of contexts. Both instruments were developed with factor analytic tools incorporating primarily college student samples. Some researchers have suggested that the dimensions of time perspective may be dependent on the group analyzed, but there is little research examining the factor structure of the CFC and ZTPI instruments in non-academic settings. The present study examines the factor structure of the CFC scale and two ZTPI scales (i.e., the Present-Hedonistic and Future scales) using confirmatory and exploratory factor analyses on a sample of professional financial advisors. The results show multiple dimensions of present and future time perspective beyond those previously found for both research instruments, and thus provide some evidence that time perspective factors vary among different populations.