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Money Ethic Scale Part 4

Money Ethic Scale Part 4. Structural Equation Modeling. Propose a Model -- Strong Theory Indirect Path, Direct Path Examine all variables and paths in the Model simultaneously. Two-Step Procedure. Step 1: Confirmatory Measurement Model, Psychometric equivalence (CFA)

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Money Ethic Scale Part 4

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  1. Money Ethic Scale Part 4

  2. Structural Equation Modeling • Propose a Model -- Strong Theory • Indirect Path, Direct PathExamine all variables and paths in the Model simultaneously

  3. Two-Step Procedure Step 1: Confirmatory Measurement Model, Psychometric equivalence (CFA) Step 2: Sequential chi-square difference tests (SCDTs) (Anderson & Gerbing, 1988)

  4. EFA vs. CFA Exploratory Factor Analysis (EFA): Data Driven Confirmatory Factor Analysis (CFA): Theory DrivenFit between the model and the data

  5. Measurement Invariance Step 1: Configural Invariance: A simultaneous test of invariance between the two samples in the number of factors underlying the factor structures Step 2: Metric Invariance: A simultaneous test of invariance in factor loadings between the two samples in that the chi-square parameters are constrained to be equal between the two samples.

  6. Measurement Error The path from any construct to its measured variable (i.e., factor loading) equals the square root of the reliability of the measured variableThe amount of random error variable is the quantity one minus the reliability (Kenny, 1979; Williams & Hazer, 1986). Step 2

  7. Sequential chi-square difference tests 1. A saturated structural model (Confirmatory Measurement Model)(Model 1): All parameters are estimated2. A structural Model (Model 2): Researcher’s theoretical model of interest3. The Null structural model : All parameters are fixed at 0

  8. Squared Multiple Correlation Endogenous variables are those that have single-headed arrows pointing to them in the path diagram, and depend on other variables. A variable’s squared multiple correlation is the proportion of its variance that is accounted for by its predictors.

  9. MGCFA Two or more groups can be analyzed simultaneously in the model.US vs. SpainMale vs. Female

  10. Fit Index NFI, the Bentler-Bonett’s normed fit index RFI, Bollen’s relative fit index IFI, Bollen’s incremental fit index TLI, Tucker-Lewis index* CFI, Bentler’s comparative fit index* RMSEA,*Assess the improvement in the fit of a model relative to the baseline model0 –1, .90 or higher, adequate fit of model to data

  11. Thank You Danke Dankeshen Grazie Merci Muchas Gracias

  12. OCB Organizational Citizenship Behavior: Bateman & Organ, 1983; Organ, 1988; Organ & Ryan, 1995; Smith, Organ, & Near, 1983; OCB: Altruism Generalized Compliance (Conscientiousness)

  13. OCB Altruism: a class of helping behaviors aimed directly at specific persons Generalized Compliance (Conscientiousness): a good soldier or good citizen syndrome of doing things that are right and proper, for the sake of the system

  14. OCB Motives • A single undifferentiated helping motive (Cnaan & Goldberg-Glen, 1991) • A two-dimensional structure: • Altruistic, Instrumental (Allen & Rush, 1998; Eastman, 1994)

  15. OCB Motives 4. Altruistic, Egoistic (Frisch & Gerranrd, 1981) • Other-serving, Self-serving (Batson & Shaw, 1991) • Personal Value, Egoistic (Puckett & Wagner, 1996)

  16. OCB Motives Public Self vs. Private Self (Baumeister, 1986) Private Self-Serving Motives Public Other-Serving Motives

  17. Private Motives Impression Management Self-handicapping Social Exchange Receiver Characteristics

  18. Public Motives Concern for Organization Organizational Culture Concern for People Situational Variable

  19. OBSE Organizational members believe that they can satisfy their needs by participating in roles within the context of an organization (Pierce, Gardner, Cummings, & Dunham, 1989)

  20. OBSE As such, it is the self-perceived value that employees have of themselves within their employing organization.

  21. OBSE OBSE predicts both the Altruism and Conscientiousness dimensions of OCB in American and Mid-eastern cultures (Tang & Ibrahim, 1998)

  22. Money and OCB The lowest levels of helping behavior have been documented among participants assigned difficult goals and paid on the basis of goal attainment (Wright, George, Farnsworth, & McMahan, 1993)

  23. MES, Motives, OBSE, & OCB Whole .21 .42 Private Motives Altruism .46* -.18* .38 .65* MES Success OBSE .61* .00 .38 .07 .59* Public Motives Conscientiousness

  24. MES, Motives, OBSE, & OCB The US .21 .43 Private Motives Altruism .46* -.17* .37 .65* MES Success OBSE .61* .00 .37 .06 .59* Public Motives Conscientiousness

  25. MES, Motives, OBSE, & OCB Non-US .19 .69 Private Motives Altruism .43* -.15* .64 .83* MES Success OBSE .38* .02 .15 -.13* .78* Public Motives Conscientiousness

  26. MES, Motives, OBSE, & OCB The US .21 .43 Private Motives Altruism .46* -.17* .37 .65* MES Success OBSE .61* .00 .37 .06 .59* Public Motives Conscientiousness

  27. MES, Motives, OBSE, & OCB .24 Taiwan .58 Private Motives Altruism .49* -.02 .43 .76* MES Success OBSE .56* .16 .31 .40* .66* Public Motives Conscientiousness

  28. MES, Motives, OBSE, & OCB Poland .35 .34 Private Motives Altruism .59* .02 .29 .59* MES Success OBSE .27* .02 .07 .13 .54* Public Motives Conscientiousness

  29. MES, Motives, OBSE, & OCB Egypt .16 .93 Private Motives Altruism .39* -.26* .50 .96* MES Success OBSE .89* .01 .80 -.11 .64* Public Motives Conscientiousness

  30. Culture Free (etic) Paths 1. MES  Private Motives 2. Public Motives  OBSE  Altruism

  31. MES, Motives, OBSE, & OCB etic Private Motives Altruism * * MES Success OBSE * Public Motives Conscientiousness

  32. Materialism and Money Ethic In popular usage, materialism more often refers to a “devotion to material needs and desires (Oxford English Dictionary, 1989) The importance a consumer attaches to worldly possessions (Belk, 1985; p. 265)

  33. Materialism and Money Ethic The worship of things (Bredemeier & Toby, 1960, p. 77) 3 elements: 1. Acquisition Centrality 2. Acquisition as the pursuit of Happiness • Possession-defined Success (Richins & Dawson, 1990, 1992)

  34. Materialism and Money Ethic Materialism  Money Ethic Money Ethic  Materialism

  35. MES  Materialism .54* Materialism Age .74* -.14* Sex -.02 .03 MES -.17* Education

  36. Materialism  MES Age -.09* .01 Materialism -.04 Sex -.07 .57* Education .32 MES

  37. Discussion • Money is important for people in the USA and around the world. • Income has a significant impact on the American people’s Money Ethic endorsement. • Money can be used to attract, retain, and motivate employees.

  38. Discussion • American people who value money have high voluntary turnover regardless of their intrinsic job satisfaction. Money attitude (Money Ethic) has a significant impact on work-related attitudes and behavior. • Money Ethic Scale will be a useful tool for researchers and practitioners in HRM and OB fields.

  39. Thank You Danke Dankeshen Grazie Merci Muchas Gracias

  40. Money and the Agency Theory • Agency theory can be meaningfully used to analyze internal control relationships between allocators (principals) and those receiving allocations (agents). • It provides a theoretical framework to predict the basis of pay for “nonprogrammable” jobs, or jobs consisting of tasks that are difficult to structure and where incumbents enjoy extensive discretion (Gomez-Mejia & Balkin, 1992)

  41. Pay-Performance Linkage:190 Private Universities • Research Institutions • Doctorate-Granting I Institutions • Liberal-Arts Institutions • Expenditures • Type of Institution • Academic Reputation Ranking • Mid-point SAT Scores • Tang, Tang, & Tang

  42. University CEO Pay • Expenditures*** • Research/Doctoral** • Law, Business, Medical Schools* • Region • Reputation** • SAT, Year Founded • Faculty, Student • Tuition

  43. CEO Benefits • Expenditures*** • Research/Doctoral*** • Law, Business, Medical Schools • Region • Reputation** • SAT, Year Founded • Faculty, Student • Tuition*

  44. CEO Total Compensation • Expenditures*** • Research/Doctoral** • Law, Business, Medical Schools • Region • Reputation* • SAT, Year Founded • Faculty, Student • Tuition**

  45. Derek Bok (1993):The Cost of Talent • Do we compensate highly educated people in the United States in ways that serve the best interests of the nation? • Are some people paid too much and others too little? • What effect do differences in earnings have on the career choices of the talented? • Do we pay executives and professionals in ways that motivate them to work hard at the right things?

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