Monetary Intelligence in Pakistan: The Effect of Wealth Attitude & Motives on Un-Ethical Intentions & Job Satisfaction with a Mediatory Role of Temptation Moderated by Demographics and Materialism

Abstract

Monetary Intelligence Hypothesis declares that people apply their money disposition to outline basic worries in the specific circumstance and deliberately select certain alternatives to accomplish money related objectives and extreme joy. In this study, we explored the monetary intelligence (MI) construct and explained how money attitudes involving affective (MI-A), behavioral (MI-B), and cognitive (MI-C) components affect Unethical Intentions and Job Satisfaction. For this, we proposed a theoretical framework thereby building upon Sardžoska & Tang (2015) model incorporating the cultural and behavioral effect of materialism and temptation respectively in a moderated mediatory structure. We hypothesize that MI constructs lead to both negative aspects of Unethical Intentions, namely 1. Theft, 2. Corruption, and 3. Deception, as well as a positive aspect of internal and external Job Satisfaction through the level of temptation. Moreover, Unethical Intentions also lead to lessen job satisfaction. We also proposed in model 2 that the effect of MI on Unethical Intentions, job satisfaction, and temptation are complemented by Age, income level, as well as materialistic culture. Empirical validity was established by conducting a survey using a close-ended questionnaire. Dataset was collected from 315employeesselected throughout Pakistan using the online submission process and physical forms and analyzed using confirmatory factor analysis and structured equation modeling. The results revealed that the components of money attitude (MI- A,B, and C), Unethical Intentions (corruption, theft, and deception), and job satisfaction (intrinsic and extrinsic) were linked to their respected formative constructs. On deeper analysis, the affective attitude has a negative effect on theft, but also lower intrinsic job satisfaction. Whereas Behavioural and Cognitive attitude seems to increase Unethical Intentions of corruption, theft, and deception. Behavioral attitude also seems to increase the temptation, however at the same time positively affects intrinsic and extrinsic job satisfaction. Moreover, temptation also increases all three unethical intentions. Hence Temptation seems to positively mediate the effect of MI-B on ethical intentions. The three factors Age, Income, and Materialism have been tested as moderators on MI w.r.t unethical intentions, Job satisfaction & Temptation. Among them, only Age seems to have a negative impact on temptations but positively complements the effect of MI on temptation. We show that MI permits people to screen their own feelings, practices, and perceptions and aids their thinking and activities. Our novel discoveries not only demonstrate the application of a new theory of monetary intelligence in a global context but also illustrate intra-personal, inter-personal, and differences in the pursuit of satisfaction in people’s lives.