Social capital and individual ethics: evidence from financial adviser misconduct
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....
| VerfasserInnen: | ; ; ; |
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| Medienart: | Elektronisch Aufsatz |
| Sprache: | Englisch |
| Verfügbarkeit prüfen: | HBZ Gateway |
| Journals Online & Print: | Lade...
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| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Veröffentlicht: |
Springer Science + Business Media B. V
2022
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| In: |
Journal of business ethics
Jahr: 2022, Band: 181, Heft: 2, Seiten: 495-518 |
| weitere Schlagwörter: | B
Financial advisers
B Social Capital B Misconduct B Individual behavior B G41 B Aufsatz in Zeitschrift B K42 |
| Online Zugang: |
Volltext (lizenzpflichtig) Volltext (lizenzpflichtig) |
| Zusammenfassung: | 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. |
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| ISSN: | 1573-0697 |
| Enthält: | Enthalten in: Journal of business ethics
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| Persistent identifiers: | DOI: 10.1007/s10551-021-04910-4 |