The Concurrent Validity of Money Metaphor Inventory

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The Concurrent Validity of Money Metaphor Inventory

By

MUOKWUE MARTIN E. M.

Department of Psychology,
Faculty of Social Sciences
Nnamdi Azikiwe University,
AWKA.

1.1 INTRODUCTION
Researchers have of recent turned their search light on the impact of money to human activities, especially as it concerns ethical issues about money. It is no doubt that we are really in the age of the economic man and money play a pivotal role on the day to day activities in the modern society.

This work therefore highlights the role of money especially as it concerns its metaphorical beliefs among male and female university students in southern Nigeria. Özgen and Bayoğlu(2005) share the same view with majority of Nigerians as to money being a symbol of status and achievement, often as a measure for human value and dignity. This view brings forward the issue of ethical beliefs about money, which equally stirs up different thought and reaction in people. Tang (2002) was of the opinion that one’s money ethic has a significant and direct impact on unethical behaviour. He further labeled money ethics as the ‘love of money’ and unethical behaviour as ‘evil’, thereby supporting the bible book of 1 Timothy 6:10, “The love of money is the root of all evil.”

Money has significant impacts on people’s motivation and their work-related behaviour in organizations (Lawler, 1981; Opsahl and Dunnette, 1966; Whyte, 1955). However, money isn’t everything and its meaning is in the eye of the beholder (McClelland, 1967). To some, money is a motivator (Lawler, 1981). However, Herzberg, Mausner, and Snyderman (1959) stated that money is a hygiene factor.

Tang et al (2002) has concluded that indeed the love of money is the root of all evil. However, understanding what money means to different people and how it influences their behaviour has been only minimally researched, or has been, at best, part of a broader perspective, such as in motivation theories or pay research

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