The Geography of Financial Misconduct

• 成果类型: Article
• 署名作者: Parsons, Christopher A.; Sulaeman, Johan; Titman, Sheridan
• 署名单位: University of Southern California; National University of Singapore; University of Texas System; University of Texas Austin
• 刊物名称: JOURNAL OF FINANCE
• ISSN/ISSBN: 0022-1082
• DOI: 10.1111/jofi.12704
• 发表日期: 2018
• 页码: 2087-2137
• 关键词: social norms; CORRUPTION; crime; GROWTH; COMPENSATION; FRAUD; IMPACT; matter; determinants; performance

摘要

Financial misconduct (FM) rates differ widely between major U.S. cities, up to a factor of 3. Although spatial differences in enforcement and firm characteristics do not account for these patterns, city-level norms appear to be very important. For example, FM rates are strongly related to other unethical behavior, involving politicians, doctors, and (potentially unfaithful) spouses, in the city.