Misconduct in Financial Services: Differences across Organizations

Brown, Jennifer; Minor, Dylan

doi:10.2139/ssrn.2651907

Cited by 8 publications

(4 citation statements)

References 47 publications

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“…Unless all employees are cognizant of the existence of such policies and feel confident to exercise their right to appeal, these policies become ineffective and futile with the passage of time. Brown and Minor (2015) have discussed various malpractices among different organizations and state that financial misconduct at the workplace is a dishonorable act that leads an institution towards a diminished status and shameful notoriety. Broadly speaking financial frauds in universities may involve frauds by misuse of financial resources, false representation, failing to disclose information, and abuse of position.…”

Section: Considermentioning

confidence: 99%

Upholding Social Integrity in Higher Education Institutions

Dar

Asad²

2022

JoEED

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Higher education institutions as seats for higher learning are expected to maintainhigh standards of social integrity and embed the same in routine academic andsocial operations. For this it is first important to highlight the types of malpracticesthat negatively impact a work environment and identify their causes. Moreover, itis incumbent to seek viable solutions to ward off such degenerative practices. Oneof the solutions is to involve statutory bodies, develop and enforce whistleblowingpolicies across academic institutions so that academic or moral corruption can beunearthed and properly investigated. Moreover, such policies should safeguard theidentity of the whistleblowers and provide them with all kinds of organizationalprotection and security. Unless appropriate policy directions underlining strictand legal actions against the wrongdoers are not in place, such misconducts willcontinue to taint the image and integrity of academic institutions.

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Section: Considermentioning

confidence: 99%

Upholding Social Integrity in Higher Education Institutions

Dar

Asad²

2022

JoEED

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“…Yet, financial misconduct is not rare, even when there is a fiduciary duty towards investors. In financial markets fraud takes the form of dishonest schemes, promises of unrealistic returns, book cooking or favoritism (e.g., Cooper and Frank (2005); Mullainathan et al (2012); Piskorski et al (2015); Brown and Minor (2016); Pool et al (2016); Anagol et al (2017)). After building a large dataset of financial advisers in the United States from 2005 to 2015, Egan et al (2019) found that about seven percent of advisers have misconduct records, and this percentage goes up to 15 percent at some of the largest advisory companies.…”

Section: Introductionmentioning

confidence: 99%

The Way People Lie in Markets: Detectable vs. Deniable Lies

Tergiman

Villeval

2023

Management Science

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In a finitely repeated game with asymmetric information, we experimentally study how individuals adapt the nature of their lies when settings allow for reputation building. Although some lies can be detected ex post by the uninformed party, others remain deniable. We find that traditional market mechanisms, such as reputation, generate strong changes in the way people lie and lead to strategies in which individuals can maintain plausible deniability; people simply hide their lies better by substituting deniable lies for detectable lies. Our results highlight the limitations of reputation to root out fraud when a deniable lie strategy is available. This paper was accepted by Yan Chen, behavioral economics and decision analysis.

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“…Occupational fraud and professional misconduct are relatively widespread in market societies (for recent examples in the financial sector, see Cohn et al, 2014;Piskorski et al, 2015;Brown and Minor, 2016;Egan et al, 2019). An aggressive market culture together with a rise of competition between and within organizations are frequently evoked to explain the erosion of moral norms in occupational settings.…”

Section: Introductionmentioning

confidence: 99%