Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/162446 
Year of Publication: 
2017
Series/Report no.: 
Working Paper No. 244
Publisher: 
University of Zurich, Department of Economics, Zurich
Abstract: 
In recent years, the banking industry has witnessed several cases of excessive risk-taking that frequently have been attributed to problematic professional norms. We conduct experiments with employees from several banks in which we manipulate the saliency of their professional identity and subsequently measure their risk aversion in a real stakes investment task. If bank employees are exposed to professional norms that favor risk-taking, they should become more willing to take risks when their professional identity is salient. We find, however, that subjects take significantly less risk, challenging the view that the professional norms generally increase bank employees' willingness to take risks.
Subjects: 
Risk culture
banking industry
experiment
JEL: 
G02
M14
C93
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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