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- Faculty Publications (5)
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- All HBS Web (10)
- Faculty Publications (5)
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10
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- February 2019
- Article
The Market for Financial Adviser Misconduct
By: Mark Egan, Gregor Matvos and Amit Seru
We construct a novel database containing the universe of financial advisers in the United States from 2005 to 2015, representing approximately 10% of employment of the finance and insurance sector. We provide the first large-scale study that documents the economy-wide...
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Keywords:
Financial Advisors;
Brokers;
Consumer Finance;
Financial Misconduct And Fraud;
FINRA;
Financial Institutions;
Crime and Corruption;
Organizational Culture;
Personal Finance;
Financial Services Industry
Egan, Mark, Gregor Matvos, and Amit Seru. "The Market for Financial Adviser Misconduct." Journal of Political Economy 127, no. 1 (February 2019): 233–295.
- May 2022
- Article
When Harry Fired Sally: The Double Standard in Punishing Misconduct
By: Mark Egan, Gregor Matvos and Amit Seru
We examine gender differences in misconduct punishment in the financial advisory industry. We find evidence of a “gender punishment gap”: following an incident of misconduct, female advisers are 20% more likely to lose their jobs and 30% less likely to find new jobs...
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Keywords:
Financial Advisers;
Brokers;
Gender Discrimination;
Consumer Finance;
Financial Misconduct And Fraud;
FINRA;
Financial Institutions;
Employees;
Crime and Corruption;
Gender;
Prejudice and Bias;
Personal Finance;
Financial Services Industry
Egan, Mark, Gregor Matvos, and Amit Seru. "When Harry Fired Sally: The Double Standard in Punishing Misconduct." Journal of Political Economy 130, no. 5 (May 2022): 1184–1248.
- Article
Corporate Culture and Analyst Catering
By: Joseph Pacelli
This study examines the relation between financial institutions’ corporate culture and the quality of analysts’ research services. Using data collected from the Financial Industry Regulatory Authority, I measure the weakness of financial institutions’ corporate culture...
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Keywords:
Analysts;
Corporate Culture;
Global Settlement;
Financial Institutions;
Organizational Culture;
Conflict of Interests;
Performance;
Quality
Pacelli, Joseph. "Corporate Culture and Analyst Catering." Journal of Accounting & Economics 67, no. 1 (February 2019): 120–143.
John Beshears
John Beshears is the Albert J. Weatherhead Jr. Professor of Business Administration in the Negotiation, Organizations & Markets Unit, teaching the second-year MBA course "Negotiation." He is also a research associate at the National Bureau of Economic Research.... View Details
John F. Batter
John Batter is a retired Litigation Partner in the Boston Office of Wilmer Cutler Pickering Hale and Dorr LLP where his practice focussed on on the defense of public and private companies and their directors and management against breach of fiduciary duty claims and... View Details
- 17 Dec 2018
- Research & Ideas
Women Receive Harsher Punishment at Work Than Men
from our findings that managers are necessarily aware of this bias,” he says. “It could be conscious or unconscious. Just seeing this information and being aware of the bias could help both men and women act more fairly.” After all, he notes, firms have access to the...
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- 12 Aug 2020
- Research & Ideas
Why Investors Often Lose When They Sue Their Financial Adviser
repealed the regulations shortly after they were introduced. Finra has considered measures to level the playing field, including letting parties eliminate more arbitrators and boosting arbitrators’ pay. Egan’s research suggests that those...
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- 21 Jul 2022
- Research & Ideas
Did Pandemic Stimulus Funds Spur the Rise of 'Meme Stocks'?
Authority (FINRA) trading information. In one analysis, the team used FINRA data to compare two groups of more than 500 stocks that retail investors likely targeted. To get a sense of timing, the researchers used US Treasury press...
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- 24 May 2017
- News
John J. Brennan, MBA 1980
1998 Named Chairman, Vanguard 2002 Publishes Straight Talk on Investing: What You Need to Know 2009 Retires from Vanguard 2009 Named head of FINRA Board of Governors 2012 Named Director, General Electric 2015 Elected Chair, University of...
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Keywords:
Susan Young
- 08 Jan 2018
- Research & Ideas
The Startling Percentage of Financial Advisors with Misconduct Records
apples, the industry as a whole doesn’t seem to keep them accountable. Resources for investors If consumers are concerned about the integrity of their advisor, Egan recommends that they look them up on BrokerCheck, a free, publicly accessible portal to the View Details