ERIC Number: ED344126
Record Type: RIE
Publication Date: 1992-Apr
Reference Count: N/A
The Development of a Short Measure of the Money Ethic Scale.
Tang, Thomas Li-Ping
Money has a significant impact on people's motivation, behavior, and performance. A Money Ethic Scale (MES) was recently developed, by which the meaning of money was examined in a sample of 249 full-time employees in the United States. Six major factors (30 items) were identified using the MES scale: good, evil, achievement, respect, budget, and power. In the present study it was purposed to develop a short measure of the Money Ethic Scale. The two items with the highest item-total correlations were selected for each factor. Thus, 12 items were selected for the short MES scale. The correlations between the long MES and the short MES scales were examined using a sample of 688 subjects, including the original 249 subjects. It appears that the original factors: good, achievement, respect, and freedom/power were all combined into one major factor, success. Three factors were identified using the 12-item scale: success, budget, and evil. It is interesting to note that positive attitudes toward money and negative attitudes toward money are not on the same dimension or the same factor. People's positive attitudes toward money and negative attitudes toward money are two separate factors. Thus, the opposite of the notion that "money represents success" is not "money is evil." Future research should use this scale to examine people's attitudes toward money as related to their behavior, performance, and effectiveness in organizations. (Author/LLL)
Publication Type: Reports - Research; Speeches/Meeting Papers
Education Level: N/A
Authoring Institution: N/A
Note: Portions of this paper were presented at the Annual Convention of the Southwestern Psychological Association (38th, Austin, TX, April 16-18, 1992).