Abstract
We use police records on individuals’ criminal activity to investigate whether personal experiences with financial misconduct spur white-collar crime. Experiences with financial misconduct derives from individuals with accounts in distressed banks where executives are prosecuted for misconduct. We show that individuals with such experiences are two to three times more likely to be convicted
of white-collar crime, compared to similar individuals with accounts in distressed banks where the financial supervisory authority did not press charges. Our results are driven by the extensive margin: the increase in white-collar crime is caused by individuals with no prior criminal record and appear to be motivated by a non-pecuniary channel.
of white-collar crime, compared to similar individuals with accounts in distressed banks where the financial supervisory authority did not press charges. Our results are driven by the extensive margin: the increase in white-collar crime is caused by individuals with no prior criminal record and appear to be motivated by a non-pecuniary channel.
| Original language | English |
|---|---|
| Publication date | 2020 |
| Number of pages | 63 |
| Publication status | Published - 2020 |
| Event | The 47th European Finance Association Annual Meeting. EFA 2020 - Virtual from The Aalto University School of Business, Helsinki, Finland Duration: 20 Aug 2020 → 21 Aug 2020 Conference number: 47 https://efa2020.efa-meetings.org/ |
Conference
| Conference | The 47th European Finance Association Annual Meeting. EFA 2020 |
|---|---|
| Number | 47 |
| Location | Virtual from The Aalto University School of Business |
| Country/Territory | Finland |
| City | Helsinki |
| Period | 20/08/2020 → 21/08/2020 |
| Internet address |
Keywords
- Financial misconduct
- Experiences
- White-collar crime
- Financial crisis
- Economics of crime
