3 papers
econ.GN2026
Hiding in Good Times, Caught in Bad: Strategic Masking and the Delayed Detection of Financial Adviser Misconduct
Jun Honda
While financial misconduct in advisory services persists despite regulation, the demand-side of market discipline, specifically the timing of investor detection, remains a critical…
econ.GN2025
Career Incentives, Risk-Taking, and Sorting Dynamics: Evidence from Top Financial Advisers
Jun Honda
We examine how career concerns influence the behavior and mobility of financial advisers. Drawing on a uniquely comprehensive matched panel that combines employer-employee data wit…
econ.GN2025
Financial Adviser Misconduct and Labor Market Penalties: Uncovering Racial Disparities in the Absence of Gender Gaps
Jun Honda
Using a comprehensive matched employer-employee dataset for U.S. financial advisers from 2008 to 2018, we revisit established evidence on labor market penalties following financial…