Public concern about immigration and customer complaints against minority financial advisors

We examine the relation between public concern about immigration and customer complaints against minority financial advisors in the United States.We find that minority advisors are more likely to receive complaints in periods of high public concern about immigration than in other periods, relative t...

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Bibliographic Details
Main Authors: Law, Kelvin Kai Fung, Zuo, Luo
Other Authors: Nanyang Business School
Format: Journal Article
Language:English
Published: 2023
Subjects:
Online Access:https://hdl.handle.net/10356/164451
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author Law, Kelvin Kai Fung
Zuo, Luo
author2 Nanyang Business School
author_facet Nanyang Business School
Law, Kelvin Kai Fung
Zuo, Luo
author_sort Law, Kelvin Kai Fung
collection NTU
description We examine the relation between public concern about immigration and customer complaints against minority financial advisors in the United States.We find that minority advisors are more likely to receive complaints in periods of high public concern about immigration than in other periods, relative to their white colleagues from the same firm, at the same office location, and at the same point in time. This result holds for both complaints with merit and dismissed complaints and is more pronounced in counties where residents likely hold stronger anti-immigration views. We also find that minority advisors aremore likely to face regulatory actions or leave their firms after customer allegations in periods of high public concern about immigration than in other periods. Overall, our study provides descriptive evidence of a positive relation between public concern about immigration and customer dissatisfaction with minority advisors.
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spelling ntu-10356/1644512023-05-19T07:31:18Z Public concern about immigration and customer complaints against minority financial advisors Law, Kelvin Kai Fung Zuo, Luo Nanyang Business School Business::General Immigration Concern Minority Advisor We examine the relation between public concern about immigration and customer complaints against minority financial advisors in the United States.We find that minority advisors are more likely to receive complaints in periods of high public concern about immigration than in other periods, relative to their white colleagues from the same firm, at the same office location, and at the same point in time. This result holds for both complaints with merit and dismissed complaints and is more pronounced in counties where residents likely hold stronger anti-immigration views. We also find that minority advisors aremore likely to face regulatory actions or leave their firms after customer allegations in periods of high public concern about immigration than in other periods. Overall, our study provides descriptive evidence of a positive relation between public concern about immigration and customer dissatisfaction with minority advisors. Nanyang Technological University Published version K. K. F. Law acknowledges financial support from a Nanyang Technological University’s Start-Up Grant. L. Zuo acknowledges financial support from the Cornell SC Johnson College of Business and from University of Toronto Roger Martin Award for Emerging Leaders. 2023-01-25T08:35:56Z 2023-01-25T08:35:56Z 2022 Journal Article Law, K. K. F. & Zuo, L. (2022). Public concern about immigration and customer complaints against minority financial advisors. Management Science, 68(11), 8464-8482. https://dx.doi.org/10.1287/mnsc.2021.4283 0025-1909 https://hdl.handle.net/10356/164451 10.1287/mnsc.2021.4283 2-s2.0-85143423031 11 68 8464 8482 en Management Science © 2022 The Author(s). https://doi.org/10.1287/mnsc.2021.4283, used under a Creative Commons Attribution License: https://creativecommons.org/licenses/by/4.0/. application/pdf
spellingShingle Business::General
Immigration Concern
Minority Advisor
Law, Kelvin Kai Fung
Zuo, Luo
Public concern about immigration and customer complaints against minority financial advisors
title Public concern about immigration and customer complaints against minority financial advisors
title_full Public concern about immigration and customer complaints against minority financial advisors
title_fullStr Public concern about immigration and customer complaints against minority financial advisors
title_full_unstemmed Public concern about immigration and customer complaints against minority financial advisors
title_short Public concern about immigration and customer complaints against minority financial advisors
title_sort public concern about immigration and customer complaints against minority financial advisors
topic Business::General
Immigration Concern
Minority Advisor
url https://hdl.handle.net/10356/164451
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