David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Business Ethics Quarterly 18 (3):405-416 (2008)
Hedge funds are targets of mounting ethical criticism. The most salient focuses on their opacity. Hedge funds are structured to block transparency for strategic reasons: that is, they systematically deny information to their own investors and to governments in order to protect their competitive advantage, even though the information they hide holds tremendous significance for the interests of both groups. In this article I will detail the ethical allegations made against hedge funds, showing why their opacity creates intractable conflicts that cannot be resolved through government regulation. Sometimes opacity be regulated away; but with hedge funds I show why it cannot because of “regulatory recalcitrance.” In the end a form of voluntary moral coordination, a form of “microsocial contract” instituted as an industry standard, is required relief. In a word, the solution to hedge fund opacity is ethical
|Keywords||No keywords specified (fix it)|
|Categories||categorize this paper)|
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library|
References found in this work BETA
No references found.
Citations of this work BETA
Eleanor R. E. O.’Higgins (2010). Corporations, Civil Society, and Stakeholders: An Organizational Conceptualization. [REVIEW] Journal of Business Ethics 94 (2):157 - 176.
Edwina Pio (2011). Relational Well-Being and Wealth: Māori Businesses and an Ethic of Care. [REVIEW] Journal of Business Ethics 98 (1):153 - 169.
Philipp Bagus & David Howden (2013). Some Ethical Dilemmas of Modern Banking. Business Ethics 22 (3):235-245.
Similar books and articles
W. T. H. (1877). Frederic H. Hedge, D. D. Journal of Speculative Philosophy 11 (1):107 - 108.
William C. Johnson & Jennifer Marietta-Westberg (2009). The Distribution of IPO Holdings Across Institutional Mutual Funds. Journal of Business Ethics 90 (2):119 - 128.
Rob Bauer, Jeroen Derwall & Rogér Otten (2007). The Ethical Mutual Fund Performance Debate: New Evidence From Canada. [REVIEW] Journal of Business Ethics 70 (2):111 - 124.
Rocío Marco Crespo (2009). Spanish Mutual Fund Fees and Less Sophisticated Investors: Examination and Ethical Implications. Business Ethics 18 (3):224-240.
Karen L. Benson, Timothy J. Brailsford & Jacquelyn E. Humphrey (2006). Do Socially Responsible Fund Managers Really Invest Differently? Journal of Business Ethics 65 (4):337 - 357.
Todd Houge & Jay Wellman (2007). The Use and Abuse of Mutual Fund Expenses. Journal of Business Ethics 70 (1):23 - 32.
Mark S. Schwartz (2003). The "Ethics" of Ethical Investing. Journal of Business Ethics 43 (3):195 - 213.
Carl Ackermann & Tim Loughran (2007). Mutual Fund Incubation and the Role of the Securities and Exchange Commission. Journal of Business Ethics 70 (1):33 - 37.
Stephan der Waart van Gulivank (2009). Adaptive Fuzzy Logics for Contextual Hedge Interpretation. Journal of Logic, Language and Information 18 (3).
Added to index2009-01-28
Total downloads12 ( #128,611 of 1,101,575 )
Recent downloads (6 months)4 ( #81,941 of 1,101,575 )
How can I increase my downloads?