David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Ezio Di Nucci
Jonathan Jenkins Ichikawa
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 Raymond Boatright (2008). Ethics in Finance. Blackwell Pub..
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Citations of this work BETA
Ernest N. Biktimirov & Don Cyr (2013). Using Inside Job to Teach Business Ethics. Journal of Business Ethics 117 (1):209-219.
James J. Angel & Douglas McCabe (2013). Ethical Standards for Stockbrokers: Fiduciary or Suitability? [REVIEW] Journal of Business Ethics 115 (1):183-193.
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.
Minzhi Wu, Mark Wilson & Yi Wu (forthcoming). Was the Global Settlement Effective in Mitigating Systematic Bias in Affiliated Analyst Recommendations? Journal of Business Ethics.
Angus Duff & Sandra Einig (2015). Debt Issuer: Credit Rating Agency Relations and the Trinity of Solicitude: An Empirical Study of the Role of Commitment. Journal of Business Ethics 129 (3):553-569.
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