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Misconduct in Financial Services: Differences across Organizations

Listed author(s):
  • Jennifer Brown

    ()

    (Northwestern University)

  • Dylan Minor

    ()

    (Harvard Business School, Strategy Unit)

Registered author(s):

    We examine misconduct in financial services. We propose a theory in which experts extract surplus based on the value of their firm's brand and their own skills. Using sales complaint data for insurance agents, we find that agents working exclusively for large branded firms are more likely to be the subject of justified sales complaints, relative to smaller independent experts, despite doing substantially less business. In addition, more experienced experts attract more complaints per year.

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    File URL: http://www.hbs.edu/faculty/pages/download.aspx?name=16-022.pdf
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    Paper provided by Harvard Business School in its series Harvard Business School Working Papers with number 16-022.

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    Length: 37 pages
    Date of creation: Aug 2015
    Handle: RePEc:hbs:wpaper:16-022
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