February 12, 2020

SOEP Brown Bag Seminar

Prosociality and Risk Preferences in the Financial Sector

Date

February 12, 2020
12:30 - 13:30

Location

Conference Room 33002c nn
DIW Berlin
Room 3.3.002c
Mohrenstraße 58
10117 Berlin

Speaker

Max Deter, University of Wuppertal
Using large-scale data from the German Socio-Economic Panel (SOEP), this paper finds that financial professionals have a lower prosociality and riskier behavior than a control group. I interpret these findings using the person-organization fit theory, and thus, the compatibility between the employee's personality and the prevailing culture in their organization. The financial sector attracts rather than socializes riskier and less prosocial professionals. These attitudes are associated with behavioral consequences, and are mainly driven by male professionals in lower management.