The decline of trust across the U.S. finance industry
利用1978-2016年综合社会调查数据,发现金融从业者的普遍信任度下降幅度超过美国整体人口,且这一趋势在金融业各子行业和各级别中普遍存在。
We provide evidence on the evolution of generalized trust among finance professionals using data from the General Social Survey over the period 1978–2016. Accounting for demographic, regional, and socioeconomic characteristics, we document a significant decline in the level of trust among finance professionals relative to the decline of trust in the U.S. population. This decline is unique to the finance industry and is particularly strong in the early years of the sample when finance professionals initially exhibited a higher level of trust than the average American. The decline occurs across all subsectors in finance and at all hierarchy levels.