Racial Disparities in Financial Complaints and the Role of Corporate Social Attitudes

• 成果类型: Article
• 署名作者: Hayes, Rachel M.; Jiang, Feng; Pan, Yihui; Tang, Huayi
• 署名单位: Utah System of Higher Education; University of Utah; State University of New York (SUNY) System; University at Buffalo, SUNY; Utah System of Higher Education; University of Utah; University of Kentucky
• 刊物名称: JOURNAL OF ACCOUNTING RESEARCH
• ISSN/ISSBN: 0021-8456
• DOI: 10.1111/1475-679X.12612
• 发表日期: 2025
• 页码: 1289-1333
• 关键词: economic scarcity; FIRM-PERFORMANCE; GENDER; women; DISCRIMINATION; RESPONSIBILITY; recession; culture; trust; RACE

摘要

Using consumer complaints filed with the Consumer Financial Protection Bureau as a measure for the quality of financial products and services, we present evidence of racial disparities in the service quality received by consumers. Consumers in high-minority communities file more complaints than those in low-minority communities, and the racial gap in financial complaints increased by more than 60% during the COVID-19 pandemic. Using a triple-difference approach, we establish the role of corporate social attitudes, reflected in, for example, inclusive promotion practices and diversity in leadership, in mitigating the complaint racial gap and its pandemic-period increase. Our results shed light on how inclusive corporate culture filters through an organization to benefit minority communities and underscore the effect of corporate social attitudes on important stakeholder outcomes.