Michael Kirchler|Florian Lindner|Utz Weitzel
Rankings and Risk?Taking in the Finance Industry
abstract rankings omnipresent finance industry yet literature silent impact financial professionals behavior using labinthefield experiments 657 professionals lab experiments 432 students investigate rank incentives affect investment decisions find rank tournament incentives increase risktaking among underperforming professionals tournament incentives affect students rank effect robust experimental frame investment frame vs abstract frame payoff consequences return vs family return social identity priming private identity vs professional identity professionals gender gender differences among professionals