Research Seminar on Bank safety culture, risk taking and misconduct

We are pleased to invite you to the next Research Seminar with Shivam Agarwal  on 25^th January at 12 noon in TSI 210.
 
Abstract  
We examine how and to what extent a bank's culture influences that bank's misconduct. We find that banks with a growth-oriented risk-taking culture are more likely to receive enforcement actions whereas banks with a safety-oriented culture are less likely to receive enforcement actions. Our findings remain despite accounting for look ahead bias, measurement error and omitted variable bias. Using state-level culture measure as an instrument variable, we find evidence supporting a causal effect of corporate culture on misconduct in banks.
 
Biography
Shivam Agarwal