Social Capital and Individual Ethics: Evidence from Financial Adviser Misconduct

被引：4

作者：

Bai, John ^{[1
]}

Shang, Chenguang ^{[2
]}

Wan, Chi ^{[3
]}

Zhao, Yijia Eddie ^{[3
]}

机构：

[1] Northeastern Univ, DAmore McKim Sch Business, 360 Huntington Ave, Boston, MA 02115 USA

[2] Suffolk Univ, Sawyer Business Sch, 8 Ashburton Pl, Boston, MA 02108 USA

[3] Univ Massachusetts, Coll Management, 100 Williams T Morrissey Blvd, Boston, MA 02125 USA

来源：

JOURNAL OF BUSINESS ETHICS | 2022年 / 181卷 / 02期

关键词：

Social capital; Individual behavior; Financial advisers; Misconduct; GENDER-DIFFERENCES; TRUST; PARTICIPATION; FRAUD;

D O I：

10.1007/s10551-021-04910-4

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We show that social capital has a strong mitigating effect on financial adviser misconduct in the United States. Moreover, advisers who have committed misconduct are also more likely to relocate to counties with a relatively lower level of social capital than that of his previously residing county. These findings provide support for both the deterrence and displacement effects of social capital on financial adviser misconduct, and are robust to tests that address potential endogeneity concerns. Our results shed new light on social capital as an informal governing and monitoring mechanism against individual unethical behavior.

引用

页码：495 / 518

页数：24

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