Personnel v human resource management

Phillips, Annie

doi:10.1201/9780367813932-14

Cited by 2 publications

(2 citation statements)

References 1 publication

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“…the Czech Republic, Egypt, Kazakhstan, Kyrgyzstan, Macedonia, Poland, Swaziland, Uganda, Uzbekistan and Vietnam (Tang, 1996(Tang, , 2021aTang et al, 2002;Tang et al, 2008a, b). For four decades, researchers have cited these constructs in textbooks: compensation (Gerhart, 2023), economic psychology (Furnham, 2014), human resource management (Gowan, 2022;Phillips, 2022), management (Bateman and Snell, 2013), organizational behavior (McShane and Von Glinow, 2021) and the news media (Authers, 2016;Bloomberg, 2016;Gillespie, 2016).…”

Section: Attitude Toward Money and Monetary Wisdommentioning

confidence: 99%

Investors’ financial aspirations excite investment decisions: current income, future inheritance expectations, and short-term and long-term decisions—The Matthew Effect in Pakistan’s emerging markets

Chaudary

Zafar²,

Tang³

2022

IJOEM

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PurposeFollowing behavioral finance and monetary wisdom, the authors theorize: Decision-makers (investors) adopt deep-rooted personal values (the love-of-money attitudes/avaricious financial aspirations) as a lens to frame critical concerns (short-term and long-term investment decisions) in the immediate-proximal (current income) and distal-omnibus (future inheritance) contexts to maximize expected utility and ultimate serenity across context, people and time.Design/methodology/approachThe authors collected data from 277 active equity traders (professional money managers and individual investors) in Pakistan’s two most robust investment hubs—Karachi and Lahore. The authors measured their love-of-money attitude (avaricious monetary aspirations), short-term and long-term investment decisions and demographic variables and collected data during Pakistan's bear markets (Pakistan Stock Exchange, PSX-100).FindingsInvestors’ love of money relates to short-term and long-term decisions. However, these relationships are significant for money managers but non-significant for individual investors. Further, investors’ current income moderates this relationship for short-term investment decisions but not long-term decisions. The intensity of the aspirations-to-short-term investment relationship is much higher for investors with low-income levels than those with average and high-income levels. Future inheritance moderates the relationships between aspirations and short-term and long-term decisions. Regardless of their love-of-money orientations, investors with future inheritance have higher magnitudes of short-term and long-term investments than those without future inheritance. The intensity of the aspirations-to-investments relationship is more potent for investors without future inheritance than those with inheritance. Investors with low avaricious monetary aspirations and without inheritance expectations show the lowest short-term and long-term investment decisions. Investors' current income and future inheritance moderate the relationships between their love of money attitude and short-term and long-term decisions differently in Pakistan's bear markets.Practical implicationsThe authors help investors make financial decisions and help financial institutions, asset management companies, brokerage houses and investment banks identify marketing strategies and investor segmentation and provide individualized services.Originality/valueProfessional money managers have a stronger short-term orientation than individual investors. Lack of wealth (current income and future inheritance) motivates greedy investors to take more risks and become more vulnerable than non-greedy ones—investors’ financial resources and wealth matter. The Matthew Effect in investment decisions exists in Pakistan’s emerging economy.

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Section: Attitude Toward Money and Monetary Wisdommentioning

confidence: 99%

Investors’ financial aspirations excite investment decisions: current income, future inheritance expectations, and short-term and long-term decisions—The Matthew Effect in Pakistan’s emerging markets

Chaudary

Zafar²,

Tang³

2022

IJOEM

View full text Add to dashboard Cite

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“…In addition, university professors have cited it in numerous editions of textbooks on compensation (Gerhart, 2023), organizational behavior (Colquitt et al, 2021; McShane & Von Glinow, 2021), human resource management (Gowan, 2022; Phillips, 2022), and the psychology of money (Furnham, 2014) and review articles (Kish‐Gephart et al, 2010; Mitchell & Mickel, 1999; Park et al, 2022), and the media (Authers, 2016; Gillespie, 2016). High avaricious love‐of‐money individuals have a high tolerance for financial risks (Tang et al, 2008), take high risks (Jia et al, 2013), and have a high awareness of the immediate environment (Chen et al, 2014).…”

Section: Theory and Hypothesismentioning

confidence: 99%

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

Tang

Özbek

et al. 2023

Business Ethics Env & Resp

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Corruption involves greed, money, and risky decision-making. We explore the love of money, pay satisfaction, probability of risk, and dishonesty across cultures. Avaricious monetary aspiration breeds unethicality. Prospect theory frames decisions in the gains-losses domain and high-low probability. Pay dissatisfaction (in the losses domain) incites dishonesty in the name of justice at the individual level. The Corruption Perceptions Index, CPI, signals a high-low probability of getting caught for dishonesty at the country level. We theorize that decision-makers adopt avaricious love-of-money aspiration as a lens and frame dishonesty in the gains-losses domain (pay satisfaction-dissatisfaction, Level 1) and high-low probability (CPI, Level 2) to maximize expected utility and ultimate serenity. We challenge the myth:Pay satisfaction mitigates dishonesty across nations consistently. Based on 6500 managers in 32 countries, our cross-level three-dimensional visualization offers the following discoveries. Under high aspiration conditions, pay dissatisfaction excites the highest-(third-highest) avaricious justice-seeking dishonesty in high (medium) CPI nations, supporting the certainty effect. However, pay satisfaction provokes the second-highest avaricious opportunity-seizing dishonesty in low CPI entities, sustaining the possibility effect-maximizing expected utility.Under low aspiration conditions, high pay satisfaction consistently leads to low dishonesty, demonstrating risk aversion-achieving ultimate serenity. We expand prospect theory from a micro and individual-level theory to a cross-level theory of monetary wisdom across 32 nations. We enhance the S-shaped Curve to three 3-D corruption surfaces across three levels of the global economic pyramid, providing novel insights into behavioral economics, business ethics, the environment, and responsibility.

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Personnel v human resource management

Cited by 2 publications

References 1 publication

Investors’ financial aspirations excite investment decisions: current income, future inheritance expectations, and short-term and long-term decisions—The Matthew Effect in Pakistan’s emerging markets

Investors’ financial aspirations excite investment decisions: current income, future inheritance expectations, and short-term and long-term decisions—The Matthew Effect in Pakistan’s emerging markets

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

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