NEW DELHI : COVID-19 pandemic may lead to large-scale bankruptcies and induce growing unethical behaviour in the investment management industry, as per a survey.The survey, which covered more than 13,000 respondents, also noted that 39 per cent of CFA charterholders globally and 46 per cent in India expect large scale consolidation of firms.According to the global survey by CFA Institute, 42 per cent of Asia Pacific respondents predict large-scale bankruptcies, while 50 per cent expect that the crisis may induce growing unethical behaviour in the investment management industry (against a global response of 45 per cent).It found that close to 80 per cent of respondents think any recovery would be slow or stagnant in the short-term before.