Prosociality and Risk Preferences in the Financial Sector

Max Deter ()

No 1075, SOEPpapers on Multidisciplinary Panel Data Research from DIW Berlin, The German Socio-Economic Panel (SOEP)

Abstract: Using large-scale data from the German Socio-Economic Panel (SOEP), this paper finds that financial professionals have a lower prosociality and riskier behavior than a control group. I interpret these findings using the person-organization fit theory, and thus, the compatibility between the employee’s personality and the prevailing culture in their organization. The financial sector attracts riskier individuals, but professionals become less prosocial in the sector. These attitudes are associated with behavioral consequences, and are mainly driven by male professionals in lower management.

Keywords: prosocial motivation; risk; financial sector; selection; socialization (search for similar items in EconPapers)
JEL-codes: D53 D64 D81 D90 M5 (search for similar items in EconPapers)
Pages: 19 p.
Date: 2020
New Economics Papers: this item is included in nep-cbe
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:diw:diwsop:diw_sp1075

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