Finance Ethics Critical Issues in Theory and Practice

Ethics in Finance is a ground-breaking work in the emerging field of finance ethics. Beginning with examples of the scandals that have shaken public confidence in the ethics of Wall Street, this book explains the need for ethics in the personal conduct of finance professionals and the operation of financial markets and institutions. Provides a comprehensive overview of the ethical issues in finance. The discussion of ethical issues is framed in terms familiar to people in finance. Focus is on practical issues that confront people in all areas of finance and that arise in the developing government and industry regulation. Among the many sources are court cases, regulatory actions, and industry reports. The book contains an in-depth examination of the firm as a nexus of contracts and shareholder wealth maximization as the objective of the firm.

John R. Boatright, editor of this volume, draws together the contributions of distinguished scholars from a wide range of disciplines-including finance, economics, philosophy, management, and law-to present essential perspectives on various ethics issues facing the financial services industry. While providing a rigorous analysis of all the topics covered-from due diligence and insider trading to socially responsible investing, executive compensation, and more-the book focuses special attention on fairness in markets and the delivery of financial services, as well as the duties of fiduciaries and agents.