Please use this identifier to cite or link to this item:
https://hdl.handle.net/10356/102643
Title: | Is fraud contagious? Coworker influence on misconduct by financial advisors | Authors: | Dimmock, Stephen G. Gerken, William C. Graham, Nathaniel P. |
Keywords: | Financial Misconduct DRNTU::Business::Finance Financial Advisors |
Issue Date: | 2018 | Source: | Dimmock, S. G., Gerken, W. C., & Graham, N. P. (2018). Is fraud contagious? Coworker influence on misconduct by financial advisors. The Journal of Finance, 73(3), 1417-1450. doi:10.1111/jofi.12613 | Series/Report no.: | The Journal of Finance | Abstract: | Using a novel data set of U.S. fi nancial advisors that includes individuals' employment histories and misconduct records, we show that co-workers influence an individual's propensity to commit financial misconduct. We identify co-workers' effect on misconduct using changes in co-workers caused by mergers of financial advisory firms. The tests include merger-fi rm fixed effects to exploit the variation in changes to co-workers across branches of the same fi rm. The probability of an advisor committing misconduct increases if his new co-workers, encountered in the merger, have a history of misconduct. This effect is stronger between demographically similar co-workers. | URI: | https://hdl.handle.net/10356/102643 http://hdl.handle.net/10220/47774 |
ISSN: | 0022-1082 | DOI: | 10.1111/jofi.12613 | Schools: | Nanyang Business School | Rights: | © 2018 The American Finance Association. All rights reserved. This paper was published in Journal of Finance and is made available with permission of The American Finance Association. | Fulltext Permission: | open | Fulltext Availability: | With Fulltext |
Appears in Collections: | NBS Journal Articles |
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File | Description | Size | Format | |
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Is Fraud Contagious Coworker Influence on Misconduct by Financial Advisors.pdf | 396.92 kB | Adobe PDF | View/Open |
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