Trustworthiness in the Financial Industry
Andrej Gill (),
Matthias Heinz (),
Heiner Schumacher () and
Matthias Sutter ()
Additional contact information
Andrej Gill: University of Mainz
Matthias Heinz: University of Cologne
Heiner Schumacher: KU Leuven
No 13583, IZA Discussion Papers from Institute of Labor Economics (IZA)
Abstract:
The financial industry has been struggling with widespread misconduct and public mistrust. Here we argue that the lack of trust into the financial industry may stem from the selection of subjects with little, if any, trustworthiness into the financial industry. We identify the social preferences of business and economics students, and follow up on their first job placements. We find that during college, students who want to start their career in the financial industry are substantially less trustworthy. Most importantly, actual job placements several years later confirm this association. The job market in the financial industry does not screen out less trustworthy subjects. If anything the opposite seems to be the case: Even among students who are highly motivated to work in finance after graduation, those who actually start their career in finance are significantly less trustworthy than those who work elsewhere.
Keywords: trustworthiness; financial industry; selection; social preferences; experiment (search for similar items in EconPapers)
JEL-codes: C91 G20 M51 (search for similar items in EconPapers)
Pages: 79 pages
Date: 2020-08
New Economics Papers: this item is included in nep-exp and nep-soc
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
http://ftp.iza.org/dp13583.pdf (application/pdf)
Related works:
Working Paper: Trustworthiness in the financial industry (2020) 
Working Paper: Trustworthiness in the Financial Industry (2020) 
Working Paper: Trustworthiness in the Financial Industry (2020) 
Working Paper: Trustworthiness in the Financial Industry (2020) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:iza:izadps:dp13583
Ordering information: This working paper can be ordered from
IZA, Margard Ody, P.O. Box 7240, D-53072 Bonn, Germany
Access Statistics for this paper
More papers in IZA Discussion Papers from Institute of Labor Economics (IZA) IZA, P.O. Box 7240, D-53072 Bonn, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Holger Hinte ().