Impact of consumer perceptions of industry corruption on the choice to engage a financial advisor

Does gender matter?

Authors

  • Danielle D. Winchester North Carolina Agricultural and Technical State University, Willie A. Deese College of Business and Economics
  • Roland L. Leak North Carolina Agricultural and Technical State University, Willie A. Deese College of Business and Economics
  • Nicole R. McCoy North Carolina Agricultural and Technical State University, Willie A. Deese College of Business and Economics

DOI:

https://doi.org/10.61190/fsr.v30i3.3484

Keywords:

Perceived misconduct, Financial advice, Gender, Corruption

Abstract

Consumer perceptions of industry corruption influences with whom and how they are willing to engage. This study explores the intersection of financial advisors’ gender and consumers’ industry corruption perceptions on the likelihood of using a female advisor as females are perceived as more trustworthy and less prone to corruption than their male counterparts. Analyses reveal individuals prefer female advisors when corruption is low, but these preferences wane as corruption perceptions heighten. This suggests the interpersonal characteristics of females being more trustworthy and ethi- cal do not carry as much weight for consumers when they perceive the industry as corrupt.

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Published

2022-09-30

How to Cite

Winchester, D. D., Leak, R. L., & McCoy, N. R. (2022). Impact of consumer perceptions of industry corruption on the choice to engage a financial advisor: Does gender matter?. Financial Services Review, 30(3), 179–190. https://doi.org/10.61190/fsr.v30i3.3484

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Section

New Original Submission