AEA Papers and Proceedings
ISSN 2574-0768 (Print) | ISSN 2574-0776 (Online)
The Distinctive Values of Bankers
AEA Papers and Proceedings
vol. 110,
May 2020
(pp. 167–71)
Abstract
The banking sector is sometimes characterized by dysfunctional culture, but little is known about what values bankers hold. We gather data on employee values in a large multinational bank and measure alignment within the bank and with broader society. We find that bankers at the bottom of the hierarchy hold values that are mirrors of their societies, but the top-ranked bankers hold values that are most distinct from their countries. These distinctive values are those with the greatest impact on performance and potential for promotion, suggesting a possible trade-off between coherence within the organization and dissonance with society.Citation
Ashraf, Nava, Oriana Bandiera, and Alexia Delfino. 2020. "The Distinctive Values of Bankers." AEA Papers and Proceedings, 110: 167–71. DOI: 10.1257/pandp.20201065Additional Materials
JEL Classification
- D22 Firm Behavior: Empirical Analysis
- F23 Multinational Firms; International Business
- G21 Banks; Depository Institutions; Micro Finance Institutions; Mortgages
- L25 Firm Performance: Size, Diversification, and Scope
- M12 Personnel Management; Executives; Executive Compensation
- M14 Corporate Culture; Diversity; Social Responsibility
- M51 Personnel Economics: Firm Employment Decisions; Promotions