This paper discusses the most important factors that our research and the research of many others has shown can affect the integrity of third party monitoring and highlights some policy implications for regulators designing third party monitoring regimes. Download working paper hbs.edu faculty Pages item.aspx num Are the Best and Brightest Going into Finance Skill Development and Career Choice of MIT Graduates By Shu Pian ABSTRACT—Using detailed data on recipients of bachelor s degrees from MIT between and I examine the selection of students going into finance or science and engineering S E .
I find that academic achievement in college is negatively correlated with a propensity to take a job in finance and positively correlated with a propensity to pursue a graduate degree or taking a job in S E. This pattern is primarily driven by differences in skill development during college not by differences in academic qualifications at college entry. groups participate in different activities students who ultimately choose finance are Egypt WhatsApp Number List substantially more likely to be varsity sports leaders in high school they are also more likely to join fraternities and sororities a decision typically made at college entry. Sizable differences in academic performance begin in freshman year and persist throughout college.
The financial crisis which substantially reduced the availability of entry level positions in finance prompted some students with relatively low college entry qualifications to major in S E instead of management or economics and or to improve their academic performance. But there is no evidence that those with top qualifications changed their skill development in response to the crisis. Taken together the results demonstrate that the preferences and skills of graduates who pursue finance are not comparable to those of graduates who choose a career in S E.
