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Ethics and behavior on the Russian commodity exchange

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Abstract

With tumultuous changes occurring in the former Soviet Union, a unique opportunity exists to examine the implications of unethical behavior in what is,de facto, a totally unregulated market. Recent legalization of commodity trading in Moscow carried with it no legal structure to ensure swift compliance with contract terms. This paper demonstrates that in the absence of legal remedies, a free marketplace appropriately punishes unethical conduct.

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Authors and Affiliations

  1. Department of Economics and Finance, Tennessee Technological University, College of Business, P.O. Box 5083, 38505, Cookeville, TN, USA

    Michael A. Kolosov, Deryl W. Martin & Jeffrey H. Peterson

Authors
  1. Michael A. Kolosov
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  2. Deryl W. Martin
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  3. Jeffrey H. Peterson
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Additional information

Michael A. Kolosov. Educated in engineering, Mr. Kolosov has published several articles in numerous trade and technical journals throughout the former Soviet Union. Currently, Mr. Kolosov is a floor trader for the Forum Brokerage Company on the Russian Commodity Exchange in Moscow.

Deryl W. Martin. Dr. Martin has presented his research at several regional and national conferences, and has previously published in theJournal of Economics and Business, theJournal of Financial and Strategic Decisions, theJournal of Business and Economic Perspectives, and theJournal of Business Ethics. He is currently Assistant Professor of Finance at Tennessee Technological University in Cookeville, TN.

Jeffrey H. Peterson. Dr. Peterson also has presented several papers at regional and national meetings and has published in theNew York State Economic Review and theJournal of Business Ethics. He is currently Assistant Professor of Finance at Saint Bonaventure University in Saint Bonaventure, NY.

Direct knowledge of the first author is the primary source of information for this article. Though figures quoted in this paper were accurate when written, we regret that the rate of change in Commonwealth society outpaces our ability to relate timely market data.

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Kolosov, M.A., Martin, D.W. & Peterson, J.H. Ethics and behavior on the Russian commodity exchange. J Bus Ethics 12, 741–744 (1993). https://doi.org/10.1007/BF00881387

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  • DOI: https://doi.org/10.1007/BF00881387

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