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.
