BLOOMBERG - Aug 9 - That's the conclusion of a provocative new academic study that found a strong correlation between adultery and workplace misconduct by corporate executives and financial advisers. Finance professors at the University of Texas at Austin and Emory University examined users of Ashley Madison, a dating site for married people looking to have affairs, thanks to a computer hack in 2015 that exposed the names and personal data of ~30M users. CEOs and CFOs who had accounts were twice as likely to have engaged in a financial misstatement or be the focus of a class action securities lawsuit between 2008 and 2014. Cheating brokers were more likely to have black marks on their records maintained by the Financial Industry Regulatory Authority.
by Matt Robinson
See full article at Bloomberg
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