ETHICS VIOLATIONS - A SURVEY OF INVESTMENT ANALYSTS

The authors analyze the responses to a mail survey of securities analy sts who were asked about their ethical behavior and the ethical behavi or of people with whom they work. The findings show the types of ethic al violations that occur and the frequency with which they occur. The findings also show how respondents deal with observed violations of et hical behavior. All responses are analyzed to determine if differences exist between the responses of analysts having different characterist ics (gender, age, years of employment, and education), and differences in employment circumstances (firm size, firm type, buy side/sell side , U.S./Canada).