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The Distinctive Values of Bankers

Author

Listed:
  • Nava Ashraf
  • Oriana Bandiera
  • Alexia Delfino

Abstract

The banking sector is sometimes characterized by dysfunctional culture, but little is known about what values bankers hold. We gather data on employee values in a large multinational bank and measure alignment within the bank and with broader society. We find that bankers at the bottom of the hierarchy hold values that are mirrors of their societies, but the top-ranked bankers hold values that are most distinct from their countries. These distinctive values are those with the greatest impact on performance and potential for promotion, suggesting a possible trade-off between coherence within the organization and dissonance with society.

Suggested Citation

  • Nava Ashraf & Oriana Bandiera & Alexia Delfino, 2020. "The Distinctive Values of Bankers," AEA Papers and Proceedings, American Economic Association, vol. 110, pages 167-171, May.
    • Handle: RePEc:aea:apandp:v:110:y:2020:p:167-71
    DOI: 10.1257/pandp.20201065
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    File URL: https://doi.org/10.3886/E119842V1
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    Citations

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    Cited by:

    1. Deter, Max & van Hoorn, André, 2023. "Selection, socialization, and risk preferences in the finance industry: Longitudinal evidence for German finance professionals," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 106(C).
    2. Florian H. Schneider & Fanny Brun & Roberto A. Weber, 2024. "Sorting and wage premiums in immoral work," CEBI working paper series 24-12, University of Copenhagen. Department of Economics. The Center for Economic Behavior and Inequality (CEBI).
    3. Limbach, Peter & Rau, P. Raghavendra & Schürmann, Henrik, 2023. "The decline of trust across the U.S. finance industry," Journal of Economic Behavior & Organization, Elsevier, vol. 213(C), pages 324-344.

    More about this item

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • M51 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Firm Employment Decisions; Promotions

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