David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
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Journal of Business Ethics 81 (1):193 - 207 (2008)
The last years have seen a surge of scandals in financial intermediation. This article argues that the agency structure inherent to most forms of financial intermediation gives rise to conflicts of interest. Though this does not excuse scandalous behavior it points out market imperfections. There are four types of conflicts of interest: personal-individual, personal-organizational, impersonal-individual, and finally, impersonal-organizational conflicts. Analyzing recent scandals we find that all four types of conflicts of interest prevail in financial intermediation.
|Keywords||financial intermediation conflict of interests principal-agent theory|
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References found in this work BETA
John R. Boatright (2000). Conflicts of Interest in Financial Services. Business and Society Review 105 (2):201-219.
Thomas L. Carson (2004). Conflicts of Interest and Self-Dealing in the Professions. Business Ethics Quarterly 14 (1):161-182.
Arran Caza, Brianna A. Barker & Kim S. Cameron (2004). Ethics and Ethos: The Buffering and Amplifying Effects of Ethical Behavior and Virtuousness. [REVIEW] Journal of Business Ethics 52 (2):169-178.
Harvey S. James (2000). Reinforcing Ethical Decision Making Through Organizational Structure. Journal of Business Ethics 28 (1):43 - 58.
Andreas Georg Scherer, Guido Palazzo & Dorotheé Baumann (2006). Global Rules and Private Actors: Toward a New Role of the Transnational Corporation in Global Governance. Business Ethics Quarterly 16 (4):505-532.
Citations of this work BETA
James J. Angel & Douglas McCabe (2013). Ethical Standards for Stockbrokers: Fiduciary or Suitability? [REVIEW] Journal of Business Ethics 115 (1):183-193.
Ernest N. Biktimirov & Don Cyr (2013). Using Inside Job to Teach Business Ethics. Journal of Business Ethics 117 (1):209-219.
Leire San-Jose, Jose Luis Retolaza & Jorge Gutierrez-Goiria (2011). Are Ethical Banks Different? A Comparative Analysis Using the Radical Affinity Index. Journal of Business Ethics 100 (1):151 - 173.
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