scholarly journals Racial Animosity and Black Financial Advisor Underrepresentation

2021 ◽  
Author(s):  
Jeffrey A. DiBartolomeo ◽  
Michael G. Kothakota ◽  
Elizabeth Parks-Stamm ◽  
Derek Tharp
Keyword(s):  
Ethnic Composition ◽  
Financial Advisors ◽  
Search Queries ◽  
Percentage Points ◽  
Financial Advisor ◽  
Google Search ◽  
Commercial Vendor ◽  
Estimate Lower

This study investigates whether racial animosity across metropolitan markets is associated with Black financial advisor underrepresentation. Using a dataset of all U.S. securities-licensed individuals (N = 642,543), we first estimate the racial and ethnic composition of the industry using an algorithm that accounts for name, gender, and location. Second, we use a dataset enhanced by a commercial vendor to restrict the analysis to only those identified as working as financial advisors (n = 237,435). Using racially charged Google search queries as a proxy for racial animosity, we find that greater racial animosity is associated with greater Black advisor underrepresentation. We estimate lower underrepresentation of 0.9 percentage points when comparing markets with the highest and lowest levels of animosity. For the average market with an estimated 11.4% Black advisor representation, an increase of 0.9 percentage points would represent a 7.9% increase in Black advisor representation.

scholarly journals Google, Tell Me. Is He Gay? Masculinity, Heterosexuality, and Gendered Anxieties in Google Search Queries about Sexuality

2021 ◽  
pp. 073112142110019
Author(s):  
Emma Mishel ◽  
Tristan Bridges ◽  
Mónica L. Caudillo
Keyword(s):  
Social Desirability ◽  
Google Trends ◽  
Social Desirability Bias ◽  
Same Sex ◽  
Search Queries ◽  
Sexual Identities ◽  
Google Search

It is difficult to gauge people’s acceptance about same-sex sexualities, as responses to questionnaires are prone to social desirability bias. We offer a new proxy for understanding popular concern surrounding same-sex sexualities: prevalence of Google searches demonstrating concern over gay/lesbian sexual identities. Using Google Trends data, we find that Google searches about whether a specific person is gay or lesbian show patterned bias toward masculine searches, in that such searches are much more frequently conducted about boys and men compared with girls and women. We put these findings into context by comparing search frequencies with other popular Google searches about sexuality and otherwise. We put forth that the patterned bias toward masculine searches illustrates support for the enduring relationship between masculinity and heterosexuality and that it does so on a larger scale than previous research has been able to establish.

Does financial advisor quality improve liquidity and issuer benefits in segmented markets? Evidence from the municipal bond market

2018 ◽  
Vol 30 (4) ◽  
pp. 440-458
Author(s):  
Kenneth Daniels ◽  
Jack Dorminey ◽  
Brent Smith ◽  
Jayaraman Vijayakumar
Keyword(s):  
Bond Market ◽  
Current Data ◽  
Financial Advisors ◽  
Municipal Bond ◽  
High Quality ◽  
Regression Estimate ◽  
Content Type ◽  
Financial Advisor ◽  
Revenue Bonds ◽  
The Impact

Purpose Using a unique sample of about 563,000 competitively bid municipal revenue bonds with financial advisors issued during the period 1998–2012, the purpose of this paper is to examine the role and influence of financial advisor quality in the municipal bond market. Design/methodology/approach The authors use a sample of about 563,000 competitively bid municipal revenue bonds with financial advisors issued during the period 1998–2012. The authors estimate a selection model where the authors identify the factors leading to the selection of a high-quality financial advisor. The authors then, using the inverse mills ratio from the first regression, estimate the association of high-quality advisor (and other factors) with the cost of borrowing. Findings The results suggest that high-quality financial advisors provide a credible signal to market participants about issue and issuer quality. This signal translates to a greater number of bids for issues that use high-quality financial advisors, resulting in improved liquidity and lower borrowing costs for these issues. The results also show that the beneficial effects obtained by using higher quality financial advisors are prevalent across all categories of issues such as for refunding and non-refunding issues, and for both insured and non-insured issues. The benefits are also generally observed for issues of most size categories. The results also suggest that the passage of the Dodd–Frank Act requiring mandatory registration of financial advisors and enhanced scrutiny has only increased the benefits to issuers from using higher quality financial advisors. Originality/value This paper differs from previous research in several important ways. First, the study is, to the authors’ knowledge, the first study that explores the relationship between financial advisor quality and liquidity in the municipal sector. The authors show using higher quality financial advisors enhances liquidity for the issues by attracting a significantly large number of bids. Second, the sample is exclusively comprised of competitively bid revenue issues all of which rely on financial advisors. This enables us to examine more unambiguously the influence of financial advisor quality, without the confounding effects of issues without financial advisors. Third, time coverage (1998–2012) and size of the sample (roughly 563,000 bond issues) enables us to conduct varied sub-sample analyses with greater power since the resulting sub-sample partitions themselves are of very large size. This provides better and additional insights into the role of financial advisor quality. The more current data when compared to prior research enables us to examine the impact of financial advisor quality inter-temporally with special attention devoted to the period after passage of the Dodd–Frank Act.

Google Search Queries About Neurosurgical Topics: Are They a Suitable Guide for Neurosurgeons?

2016 ◽  
Vol 90 ◽  
pp. 179-185 ◽  
Author(s):  
Anna C. Lawson McLean ◽  
Aaron Lawson McLean ◽  
Rolf Kalff ◽  
Jan Walter
Keyword(s):  
Search Queries ◽  
Google Search

scholarly journals Forecasting influenza in Hong Kong with Google search queries and statistical model fusion

PLoS ONE ◽  
2017 ◽  
Vol 12 (5) ◽  
pp. e0176690 ◽  
Author(s):  
Qinneng Xu ◽  
Yulia R. Gel ◽  
L. Leticia Ramirez Ramirez ◽  
Kusha Nezafati ◽  
Qingpeng Zhang ◽  
...  
Keyword(s):  
Hong Kong ◽  
Statistical Model ◽  
Model Fusion ◽  
Search Queries ◽  
Google Search

Factors influencing the choice of financial advisor by women stock investors in Punjab

2017 ◽  
Vol 59 (2) ◽  
pp. 192-201
Author(s):  
Mandeep Kaur ◽  
Tina Vohra
Keyword(s):  
Service Providers ◽  
Age Groups ◽  
Financial Advisors ◽  
Women Clients ◽  
Content Type ◽  
Financial Advisor ◽  
Investment Advisor ◽  
The Impact ◽  
Structured Questionnaire

Purpose The paper aims to attempt to identify the attributes that women look for in their financial advisor and to examine if the choice of attributes of a financial advisor among women investors in Punjab is the same across demographics. The understanding of the attributes that women want in their financial advisor will help the financial advisors to be mindful of the opportunities and the challenges they have to face while working with women investors. Studying the impact of demographics on the choice of the investment advisor would enable the service providers to provide women with services relevant to their unique and individual situations. Design/methodology/approach A pre-tested, well-structured questionnaire was constructed and administered personally, and the responses of 200 women investors were analyzed. The sum of the ranks assigned by women to various attributes determining the choice of a financial advisor was used to find out the most preferred attribute on the basis of which women choose their financial advisor. The Kruskal Wallis test was used to analyze the impact of demographics on the choice of the respondents. Findings The results of the study brought out that the friendliness of the financial advisor, and the quality of advice provided by them are preferred attributes determining the choice of a financial advisor. Along with this, the results also state that the preference for the attribute friendliness and quality of advice is not the same across age groups. The choice of attributes also varies according to the marital status of the respondents. Practical implications The current study will contribute toward a greater understanding of the attributes which are considered important by women while choosing their financial advisor. The study will help the financial advisors to cater to the needs of their women clients. Moreover, the study will also benefit women by bringing about a positive change in the attitude of the financial advisors in favor of them. The greater sensitization of the financial advisors toward their women clients would lead to greater stock market participation among women, thereby benefitting the society. Originality/value The paper is an attempt to identify the attributes that women look for in their financial advisor and to examine if the choice of attributes of a financial advisor among women investors in Punjab is the same across demographics or not. Therefore, the study contributes to the understanding of the investment behavior of women.

Factors Associated With Hiring and Firing Financial Advisors During the Great Recession

2019 ◽  
Vol 30 (2) ◽  
pp. 289-303
Author(s):  
Yuanshan Cheng ◽  
Charlene M. Kalenkoski ◽  
Philip Gibson
Keyword(s):  
Great Recession ◽  
Financial Services ◽  
Significant Loss ◽  
Economic Downturn ◽  
Financial Advisors ◽  
Net Worth ◽  
The Great Recession ◽  
Financial Advisor ◽  
Client Relationship ◽  
Hiring And Firing

From 2007 to 2009, the U.S. economy went through a deep economic downturn which is popularly known as the Great Recession. It resulted in a significant loss of wealth for many investors. While some investors sought the advice of financial advisors; others did not. This study examines the economic situation of households using the National Longitudinal Survey of Youth (NLSY) and analyzes the financial advisor–client relationship during the Great Recession to determine who fired or hired a financial advisor during this period. The results indicate that losing money, measured by a decrease net worth, was not the main reason why clients fired their financial advisor during the Great Recession. Interestingly, the results also show that experiencing a decrease in net worth was not the main reason why individuals pursued the services of a financial adviser during this period. Instead, current income and an increase in income were the primary factors that impacted the client–advisor relationship during the financial crisis. These results are consistent with consumer demand theory in which financial services are a normal good that people purchase less of when their income falls.

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