Journal of Business Ethics 156 (2):531-543 (2019)

Authors
Lisa Maria Herzog
University of Groningen
Abstract
The paper develops a responsibility-based account of professional ethics in banking. From this perspective, bankers have duties not only toward clients—the traditional focus of professional ethics—but also regarding the prevention of systemic harms to whole societies. When trying to fulfill these duties, bankers have to meet three challenges: epistemic challenges, motivational challenges, and a coordination challenge. These challenges can best be met by a combination of regulation and ethics that aligns responsibilities, recognition, and incentives and creates what Parsons has called “integrated situations”. Professional associations play an important role for this purpose, especially as spaces in which peer recognition is earned. But financial incentives equally need to be brought in line, for example, through deferred bonuses or claw backs. Such measures can create a new culture of accountability in banking.
Keywords No keywords specified (fix it)
Categories (categorize this paper)
ISBN(s)
DOI 10.1007/s10551-017-3562-y
Options
Edit this record
Mark as duplicate
Export citation
Find it on Scholar
Request removal from index
Revision history

Download options

PhilArchive copy


Upload a copy of this paper     Check publisher's policy     Papers currently archived: 65,657
External links

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

Responsibility for Justice.Iris Marion Young - 2011 - Oxford University Press USA.
After Virtue: A Study in Moral Theory.Samuel Scheffler - 1983 - Philosophical Review 92 (3):443.
Collectives' Duties and Collectivisation Duties.Stephanie Collins - 2013 - Australasian Journal of Philosophy 91 (2):231-248.

View all 18 references / Add more references

Citations of this work BETA

Moral Responsibility for Systemic Financial Risk.Jakob Moggia - 2019 - Journal of Business Ethics 169 (3):1-13.

View all 7 citations / Add more citations

Similar books and articles

The Global Banking Sector.Seumas Miller - 2018 - Business and Professional Ethics Journal 37 (1):13-44.
Professional Ethics.R. Subramanian - 2013 - Oxford University Press.
Integrity, Responsibility and Affinity: Three Aspects of Ethics in Banking.C. J. Cowton - 2002 - Business Ethics, the Environment and Responsibility 11 (4):393–400.
Integrity, Responsibility and Affinity: Three Aspects of Ethics in Banking.C. J. Cowton - 2002 - Business Ethics, the Environment and Responsibility 11 (4):393-400.
Utilitarianism and the Evolution of Ecological Ethics.Gary Varner - 2008 - Science and Engineering Ethics 14 (4):551-573.
Money Mathematics: Examining Ethics Education in Quantitative Finance.Jason West - 2012 - Journal of Business Ethics Education 9 (Special Issue):25-39.

Analytics

Added to PP index
2019-04-25

Total views
27 ( #411,540 of 2,462,368 )

Recent downloads (6 months)
9 ( #78,580 of 2,462,368 )

How can I increase my downloads?

Downloads

My notes