TY  - RPRT
        AU  - Gill, Andrej
AU  - Heinz, Matthias
AU  - Schumacher, Heiner
AU  - Sutter, Matthias
        TI  - Trustworthiness in the Financial Industry
        PY  - 2020/Aug/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 13583
        UR  - https://www.iza.org/publications/dp13583
        AB  - 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.
        KW  - financial industry
KW  - selection
KW  - social preferences
KW  - trustworthiness
KW  - experiment
        ER  -