Money attitudes survey of business students in Kazakhstan, Kyrgyzstan and Uzbekistan

Abstract

Purpose The purpose of this study is to analyze the money attitudes among students at English-language business schools in the transitioning Central Asian nations of the former USSR, namely, Kazakhstan, Kyrgyzstan and Uzbekistan. Design/methodology/approach The survey was carried out in 2017, using previously established measures of Love of Money survey questionnaire. Over 300 undergraduate students in English-language business degree programs in Kazakhstan, Kyrgyzstan and Uzbekistan participated in the survey. A few hypotheses were tested using three-way MANOVA to test the influence of three factors (country, gender and student years). In addition, post hoc analysis, and one- and two-way ANOVA methods were used for multiple comparisons. Findings The results showed evidence of increasing convergence among students who are farther along in the program. Some statistically significant differences were also found, mainly in regard to gender differences in money attitudes across countries and student levels. The results of statistical analysis suggest a need for further research on attitudes and values related to money in the modern nation states of Central Asia. Originality/value This study is one of first attempts to study the values and attitudes regarding money among the first generation of business students who were born and grew up after their respective countries gained independence. The findings imply the development of a relatively homogeneous labor pool for business organizations across regions that are characterized by increasing differentiation among countries within the region.

Is psychology of money a gendered affair? A scoping review and research agenda

“…Indeed, men are more likely to use money to show off supremacy, as a status symbol, and as a way to exert control and influence over other people. In the same vein, men tend to score higher on achievement and success dimensions of money attitudes, meaning that they look at money as a way to exhibit their fulfillment and to impress others (Bonsu, 2008; Lay & Furnham, 2018; Lemrová et al, 2014; Oleson, 2004; Tang & Gilbert, 1995; Tumendemberel et al, 2020), as well as a sign of wealth (Tang, 1993, 1995; Tynaliev & Erdener, 2019). Consistently, men tend also to view money as a means to make them feel more attractive and desirable (Furnham & Grover, 2020; Furnham & Horne, 2021).…”

“…The stronger attribution of money as a source of power and success is also associated with a greater male tendency to display obsession in thinking about money, viewing it as a sign of superiority and as a solution to all problems (e.g., Furnham, 1984; Oleson, 2004; Tumendemberel et al, 2020; Tynaliev & Erdener, 2019; Wilhelm et al, 1993). Men also display greater attachment and love toward money, which is associated with the degree of importance and value that individuals attribute to money, as well as the amount of money that they seek in their lives (e.g., Cunningham et al, 2012; Hanashiro et al, 2004; Tang et al, 2005; Walczak & Pieńkowska‐Kamieniecka, 2018).…”

Behavioral economics and monetary wisdom: A cross‐level analysis of monetary aspiration, pay (dis)satisfaction, risk perception, and corruption in 32 nations

“…For the past four decades, scholars worldwide have substantiated the notion of monetary wisdom, examining the relationships between this money construct and various positive and negative outcomes in more than 50 countries across six continents (Bloomberg, 2016; see Luna‐Arocas & Tang, 2015; Tang, Sutarso, Ansari, Lim, Teo, Arias‐Galicia, Garber, Chiu, Charles‐Pauvers, Luna‐Arocas, Vlerick, Akande, Allen, Al‐Zubaidi, Borg, Canova, et al, 2018). We include some selected countries and references, including under‐researched nations below: Canada, China, India, the Netherlands, the US (a 20‐country study, Bloomberg, 2016), the Czech Republic (Lemrová et al, 2014), Indonesia (Wicaksono & Urmsah, 2016), Kazakhstan, Kyrgyzstan, Uzbekistan (Tynalie & Erdener, 2019), Macedonia (Sardžoska & Tang, 2015), Pakistan (Chaudary et al, 2022), Sri Lanka (Wickramasinghe, 2022), Swaziland (Gbadamosi & Joubert, 2005), Thailand (Ariyabuddhiphongs & Hongladarom, 2011), Turkey (Süer et al, 2017), Uganda (Nkundabanyanga et al, 2011), UK (Wang & Krumhuber, 2017), Vietnam (Le & Kieu, 2019), and Zimbabwe (Mutipi, 2020).…”

To Concur or Conquer? Redirecting [Vocational] Accounting Education

“…There are several kinds of love that we talk about. Love of money (Huang et al, 2017;Tynaliev & Erdener, 2019) would enhance materialistic and calculative cultures. Thus, we should integrate the greatest love of all with [vocational] accounting education; love of God (in Islam this is known as mahabbatullah).…”