{"id":15667,"date":"2024-10-07T07:57:13","date_gmt":"2024-10-07T12:57:13","guid":{"rendered":"https:\/\/uwm.edu\/business\/?post_type=tribe_events&#038;p=15667"},"modified":"2024-10-07T07:57:13","modified_gmt":"2024-10-07T12:57:13","slug":"salesman-manager","status":"publish","type":"tribe_events","link":"https:\/\/uwm.edu\/business\/event\/salesman-manager\/","title":{"rendered":"Death of a Salesman\u2019s Manager: Soft Information, Familiarity, and Misconduct in Financial Advisory Firms"},"content":{"rendered":"<p><em>Part of the Lubar Research Seminar Series<\/em><\/p>\n<p><em><strong>Speaker: Will Gerken, University of Kentucky<\/strong><\/em><\/p>\n<p>We investigate how increased information asymmetry between branch managers and financial advisors impacts advisor misconduct. Using branch manager deaths as exogenous shocks to the information environment, we employ difference-in-differences models with a matched advisor sample. We find a significant immediate decrease in advisor misconduct following a manager\u2019s death, which fades over time. This effect is stronger among advisors with longer tenure overlap, shared ethnicity, and more complex business activities. Our findings suggest that the soft information accumulated by branch managers \u2013 which reduces information asymmetry \u2013 may facilitate misconduct, challenging the notion that reduced information asymmetry inherently deters unethical behavior. These findings highlight the complex dual role of branch managers in ensuring compliance while driving revenue generation within firms.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Part of the Lubar Research Seminar Series Speaker: Will Gerken, University of Kentucky We investigate how increased information asymmetry between branch managers and financial advisors impacts advisor misconduct. Using branch manager deaths as exogenous shocks to the information environment, we &hellip;<\/p>\n","protected":false},"author":82,"featured_media":0,"template":"","meta":{"_tribe_events_status":"","_tribe_events_status_reason":"","_tribe_events_is_hybrid":"","_tribe_events_is_virtual":"","_tribe_events_virtual_video_source":"","_tribe_events_virtual_embed_video":"","_tribe_events_virtual_linked_button_text":"","_tribe_events_virtual_linked_button":"","_tribe_events_virtual_show_embed_at":"","_tribe_events_virtual_show_embed_to":[],"_tribe_events_virtual_show_on_event":"","_tribe_events_virtual_show_on_views":"","_tribe_events_virtual_url":"","footnotes":"","uwm_wg_additional_authors":[]},"tags":[],"tribe_events_cat":[63],"class_list":["post-15667","tribe_events","type-tribe_events","status-publish","hentry","tribe_events_cat-research-seminar-series","cat_research-seminar-series"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Lubar College of Business<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uwm.edu\/business\/event\/salesman-manager\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Death of a Salesman\u2019s Manager: Soft Information, Familiarity, and Misconduct in Financial Advisory Firms\" \/>\n<meta property=\"og:description\" content=\"Part of the Lubar Research Seminar Series Speaker: Will Gerken, University of Kentucky We investigate how increased information asymmetry between branch managers and financial advisors impacts advisor misconduct. 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