IDEAS home Printed from https://ideas.repec.org/a/spr/jbecon/v90y2020i8d10.1007_s11573-020-00973-3.html
   My bibliography  Save this article

Self-selection and socialisation effects of business and legal studies

Author

Listed:
  • Tim Rosengart

    (Universität der Bundeswehr München)

  • Bernhard Hirsch

    (Universität der Bundeswehr München)

  • Christian Nitzl

    (Universität der Bundeswehr München)

Abstract

To explore the effect of business and legal studies on the resolution of trade-offs between efficiency considerations and fairness concerns, we distributed a survey with three decision cases to freshman and senior business and law students. Our results show that business students, in direct comparison with subjects who study law, make decisions more in accordance with economic theory. Studying business administration leads to decisions that are based more on efficiency criteria, while legal education appears to lead individuals making decisions that are more based on social criteria. Our findings reveal the impact of self-selection and socialization effects on decision making. For business ethics education, this result matters because moral decision making can be influenced during studies.

Suggested Citation

  • Tim Rosengart & Bernhard Hirsch & Christian Nitzl, 2020. "Self-selection and socialisation effects of business and legal studies," Journal of Business Economics, Springer, vol. 90(8), pages 1127-1145, September.
    • Handle: RePEc:spr:jbecon:v:90:y:2020:i:8:d:10.1007_s11573-020-00973-3
    DOI: 10.1007/s11573-020-00973-3
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s11573-020-00973-3
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s11573-020-00973-3?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Jean-Luc Demeulemeester & Claude Diebolt, 2011. "Education and Growth: What Links for Which Policy?," Historical Social Research (Section 'Cliometrics'), Association Française de Cliométrie (AFC), vol. 36(4), pages 323-346.
    2. Luigi Guiso & Paola Sapienza & Luigi Zingales, 2006. "Does Culture Affect Economic Outcomes?," Journal of Economic Perspectives, American Economic Association, vol. 20(2), pages 23-48, Spring.
    3. Amélie Goossens & Pierre-Guillaume Méon, 2015. "The Belief that Market Transactions Are Mutually Beneficial: A Comparison of the Views of Students in Economics and Other Disciplines," The Journal of Economic Education, Taylor & Francis Journals, vol. 46(2), pages 121-134, April.
    4. Jeannette Brosig & Timo Heinrich & Thomas Riechmann & Ronnie Schöb & Joachim Weimann, 2010. "Laying off or Not? the Influence of Framing and Economics Education," International Review of Economic Education, Economics Network, University of Bristol, vol. 9(1), pages 44-55.
    5. Faravelli, Marco, 2007. "How context matters: A survey based experiment on distributive justice," Journal of Public Economics, Elsevier, vol. 91(7-8), pages 1399-1422, August.
    6. Walker & Brewer & Bozeman & Moon & Wu, 2013. "An Experimental Assessment of Public Ownership and Performance," Public Management Review, Taylor & Francis Journals, vol. 15(8), pages 1208-1228, November.
    7. Gorman, Raymond F & Kehr, James B, 1992. "Fairness as a Constraint on Profit Seeking: Comment," American Economic Review, American Economic Association, vol. 82(1), pages 355-358, March.
    8. Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard H, 1986. "Fairness and the Assumptions of Economics," The Journal of Business, University of Chicago Press, vol. 59(4), pages 285-300, October.
    9. Cipriani, Giam Pietro & Lubian, Diego & Zago, Angelo, 2009. "Natural born economists?," Journal of Economic Psychology, Elsevier, vol. 30(3), pages 455-468, June.
    10. Hair, Joe F. & Howard, Matt C. & Nitzl, Christian, 2020. "Assessing measurement model quality in PLS-SEM using confirmatory composite analysis," Journal of Business Research, Elsevier, vol. 109(C), pages 101-110.
    11. Larry Floyd & Feng Xu & Ryan Atkins & Cam Caldwell, 2013. "Ethical Outcomes and Business Ethics: Toward Improving Business Ethics Education," Journal of Business Ethics, Springer, vol. 117(4), pages 753-776, November.
    12. Christian Nitzl, 2018. "Management Accounting and Partial Least Squares-Structural Equation Modelling (PLS-SEM): Some Illustrative Examples," International Series in Operations Research & Management Science, in: Necmi K. Avkiran & Christian M. Ringle (ed.), Partial Least Squares Structural Equation Modeling, chapter 0, pages 211-229, Springer.
    13. Tim Rosengart & Bernhard Hirsch & Christian Nitzl, 2019. "The effects of legal versus business education on decision making in public administrations with a Weberian tradition," Business Research, Springer;German Academic Association for Business Research, vol. 12(2), pages 455-478, December.
    14. Jennifer Kunz & Stefan Linder, 2012. "Organizational Control and Work Effort -- Another Look at the Interplay of Rewards and Motivation," European Accounting Review, Taylor & Francis Journals, vol. 21(3), pages 591-621, March.
    15. Pfeffer, Jeffrey, 1997. "New Directions for Organization Theory: Problems and Prospects," OUP Catalogue, Oxford University Press, number 9780195114348.
    16. Nitzl, Christian, 2016. "The use of partial least squares structural equation modelling (PLS-SEM) in management accounting research: Directions for future theory development," Journal of Accounting Literature, Elsevier, vol. 37(C), pages 19-35.
    17. Ariel Rubinstein, 2006. "A Sceptic's Comment on the Study of Economics," Economic Journal, Royal Economic Society, vol. 116(510), pages 1-9, March.
    18. Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard, 1986. "Fairness as a Constraint on Profit Seeking: Entitlements in the Market," American Economic Review, American Economic Association, vol. 76(4), pages 728-741, September.
    19. Katrin Hummel & Dieter Pfaff & Katja Rost, 2018. "Does Economics and Business Education Wash Away Moral Judgment Competence?," Journal of Business Ethics, Springer, vol. 150(2), pages 559-577, June.
    20. Salvatore Rizzello, 1999. "The Economics of the Mind," Books, Edward Elgar Publishing, number 1900.
    21. Necmi K. Avkiran & Christian M. Ringle (ed.), 2018. "Partial Least Squares Structural Equation Modeling," International Series in Operations Research and Management Science, Springer, number 978-3-319-71691-6, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Miragaya-Casillas, Cristina & Aguayo-Estremera, Raimundo & Ruiz-Villaverde, Alberto, 2023. "University students, economics education, and self-interest. A systematic literature review," International Review of Economics Education, Elsevier, vol. 43(C).
    2. Nikša Alfirević & Koraljka Modić Stanke & Fabrizio Santoboni & Giuseppe Curcio, 2023. "The Roles of Professional Socialization and Higher Education Context in Prosocial and Pro-Environmental Attitudes of Social Science and Humanities versus Business Students in Italy and Croatia," Sustainability, MDPI, vol. 15(12), pages 1-14, June.
    3. Maite D. Laméris & Pierre-Guillaume Méon & Anne-Marie Prooijen, 2023. "What have we done?! The impact of economics on the beliefs and values of business students," Journal of Business Economics, Springer, vol. 93(3), pages 433-483, April.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Tim Rosengart & Bernhard Hirsch & Christian Nitzl, 2019. "The effects of legal versus business education on decision making in public administrations with a Weberian tradition," Business Research, Springer;German Academic Association for Business Research, vol. 12(2), pages 455-478, December.
    2. Ruske, René & Suttner, Johannes, 2012. "Wie (un-)fair sind Ökonomen? Neue empirische Evidenz zur Marktbewertung und Rationalität," CIW Discussion Papers 03/2012, University of Münster, Center for Interdisciplinary Economics (CIW).
    3. Ruske René & Suttner Johannes, 2012. "Wie (un-)fair sind Ökonomen? – Neue empirische Evidenz zur Marktbewertung und Rationalität / How (un-)fair are economists? New empirical evidence on market valuation and rationality," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 63(1), pages 179-194, January.
    4. Katrin Hummel & Dieter Pfaff & Katja Rost, 2018. "Does Economics and Business Education Wash Away Moral Judgment Competence?," Journal of Business Ethics, Springer, vol. 150(2), pages 559-577, June.
    5. Simon Niklas Hellmich, 2019. "Are People Trained in Economics “Different,†and if so, Why? A Literature Review," The American Economist, Sage Publications, vol. 64(2), pages 246-268, October.
    6. Süssmuth, Bernd & Gawellek, Bastian & Koenings, Fabian, 2021. "Economics education, childhood socialization, and the transmission of allocation preferences," International Review of Economics Education, Elsevier, vol. 38(C).
    7. Maité Laméris & Pierre-Guillaume Méon & Anne-Marie Van Prooijen, 2019. "What have we done? The impact of choosing and studying different academic disciplines on beliefs and values," Working Papers CEB 19-007, ULB -- Universite Libre de Bruxelles.
    8. Maite D. Laméris & Pierre-Guillaume Méon & Anne-Marie Prooijen, 2023. "What have we done?! The impact of economics on the beliefs and values of business students," Journal of Business Economics, Springer, vol. 93(3), pages 433-483, April.
    9. Amélie Goossens & Pierre-Guillaume Méon, 2015. "The Belief that Market Transactions Are Mutually Beneficial: A Comparison of the Views of Students in Economics and Other Disciplines," The Journal of Economic Education, Taylor & Francis Journals, vol. 46(2), pages 121-134, April.
    10. Cipriani, Giam Pietro & Lubian, Diego & Zago, Angelo, 2009. "Natural born economists?," Journal of Economic Psychology, Elsevier, vol. 30(3), pages 455-468, June.
    11. Konow, James, 1996. "A positive theory of economic fairness," Journal of Economic Behavior & Organization, Elsevier, vol. 31(1), pages 13-35, October.
    12. João Carlos Graça & João Carlos Lopes & Rita Gomes Correia, 2014. "Economics education: literacy or mind framing? Evidence from a survey on the social building of trust in Portugal," Working Papers Department of Economics 2014/20, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    13. Pfeifer, Christian, 2004. "Fairness und Kündigungen : eine theoretische und empirische Analyse (Fairness and layoffs * a theoretical and empirical analysis)," Zeitschrift für ArbeitsmarktForschung - Journal for Labour Market Research, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany], vol. 37(2), pages 127-145.
    14. Seligman, David A. & Schwartz, Barry, 1997. "Domain specificity of fairness judgments in economic transactions," Journal of Economic Psychology, Elsevier, vol. 18(6), pages 579-604, November.
    15. Fischer, Mira & Kauder, Björn & Potrafke, Niklas & Ursprung, Heinrich W., 2017. "Support for free-market policies and reforms: Does the field of study influence students' political attitudes?," European Journal of Political Economy, Elsevier, vol. 48(C), pages 180-197.
    16. Eli Spiegelman, 2021. "Embracing The Dark Side? Testing The Socialization Of A Maximizing Mindset," Economic Inquiry, Western Economic Association International, vol. 59(2), pages 740-761, April.
    17. Pfeifer, Christian, 2004. "Fairness und Kündigungen : eine theoretische und empirische Analyse (Fairness and layoffs * a theoretical and empirical analysis)," Zeitschrift für ArbeitsmarktForschung - Journal for Labour Market Research, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany], vol. 37(2), pages 127-145.
    18. Liying He & Kamisah Ismail, 2023. "Do staff capacity and performance-based budgeting improve organisational performance? Empirical evidence from Chinese public universities," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-16, December.
    19. René Ruske, 2015. "Does Economics Make Politicians Corrupt? Empirical Evidence from the United States Congress," Kyklos, Wiley Blackwell, vol. 68(2), pages 240-254, May.
    20. Scott C. Manley & Joseph F. Hair & Ralph I. Williams & William C. McDowell, 0. "Essential new PLS-SEM analysis methods for your entrepreneurship analytical toolbox," International Entrepreneurship and Management Journal, Springer, vol. 0, pages 1-21.

    More about this item

    Keywords

    University education; Self-selection; Socialisation; Economic decision making;
    All these keywords.

    JEL classification:

    • A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:jbecon:v:90:y:2020:i:8:d:10.1007_s11573-020-00973-3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.