Jale Minibas - Poussard Özge Sahin

Galatasaray University Geneva University

Business Administration Dept. HEC

E-mail: jale.mp@free.fr

 

Social representations of money and bank:

Before, during and after the economic crisis

IAREP 2008

 

Conceptualization

Ecomonic knowledge

Ecomonic language

Social representions

related to economy

DefinitionsSocial representation:

remains the product and process of a mental activity by which a person or a group rebuild the reality they are faced with and assigns it a specific significance (Abric, 1987)

play a key role in the social relations dynamics understanding and explaining reality. It guides and also defines identity while placing a person or group in the social context (Abric, 1994)

Aim of the study

To understand what the crucial terms of money and bank represented in people’s mind in Turkey at three different economic periods: beforeduring and after the economic crisis.

Sampling

Data were collected in three different periods;

early 1999, just before economic crisis with 150 observations,

in the beginning of 2001 with 165 observations during the economic crisis

in early 2007 with 160 observations after economic crisis.

Analysis

Social representations was assessed by word association technique (evocation task, by Vergès & Bastounis, 2001).

Participants were asked to provide associations to “money” and “bank”.

Data analysis was conducted with the rank by frequency model.

BEFORE THE CRISIS DURING THE CRISIS AFTER THE CRISIS

Central nucleus

Necessary for living Power / being powerful

Necessary to reach their goals

PowerShopping/expenses

DebtHappiness

Power, Buying power/shopping

Have moneyEarn money/Life target

1st periphery

Happiness /pleasure/Buying powerBeing secure

Source of problems Disturb the personality

NeedsBank

Saving SecurityTo liveBills

NeedsSecurity

Well-being Recognition

Success

2nd periphery

Its lack is burdenIncome/work

ProsperityLoan / debt

Investment / capital

ProsperitySalary

Working Health Future

ProsperityHealthHope

Robbery /corruption Bank

3rd periphery

Bank Prestige Saving

Economics Budget

Class Discrimination Freedom

EconomyBudget

Economic crisis

LuxuryCar

TravelHouse buying

Loan/credit cardLottery/TV contests

Table 1. Social representations for money in three different periods

Findings

BEFORE THE CRISIS DURING THE CRISIS AFTER THE CRISIS

Central nucleus

Money,Service/facilitator/support

Saving Corruption / usurer

Investment

MoneySaving/investment

Earning with interestCorruption

Credit/credit cardDebt

Repayment difficultiesInterest payment

1st periphery

InterestLoan / debt

Queuing / stress sullen people

Loan/credit cardEarning money

CompetitionAdvertising

Dollar

MoneyMortgage

CarATM

Credit card counterfeitingExploitation

2nd periphery

Security Where we put money

MediatorWhere money grows

Safe Account

Bankrupted banksATM

AccountDismissals

Saving Euro

Banking take-over

3rd periphery

Credit card Resources / capital

OperationsDeposit currency

Economics ATM

Advertising

EconomySecurity

Queuing/waitingOffshore

Internet /online bankingPassword

Convenience Economy

Cellular phone bankingAccounting

FindingsTable 2. Social representations for bank in three different periods

ConclusionsThe evocations turn from saving into

expenses

These different periods affect the economic values.

Money, defined as a tool before the crisis became a goal after the crisis period and occupied a more important place in the peoples’ lives. While remaining as power symbol money has become a mean for recognition.