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Ethics in Finance, 2nd Edition

ISBN: 978-1-4443-2679-6
232 pages
December 2014, Wiley-Blackwell
Ethics in Finance, 2nd Edition (1444326791) cover image

Description

This second edition of the ground-breaking Ethics in Finance, is an up-to-date, valuable addition to the emerging field of finance ethics. Citing examples of the scandals that have shaken public confidence in the ethics of Wall Street, this text explains the importance of ethics the operation of financial institutions and in the personal conduct of finance professionals.
  • Focuses on practical issues that confront finance professionals and policy makers
  • Now includes discussion of issues in mutual funds and financial engineering, the independence of analysts at investment banks, and the bank’s responsibility for the conduct of its clients
  • Features a new chapter on conflicts of interest in financial services, expanded treatment of ethical issues in IPOs, and a new discussion about the discarding of pension funds
  • Cites examples of the scandals that have shaken public confidence in Wall Street
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Table of Contents

Preface to the First Edition.

Preface to the Second Edition.

Acknowledgments.

Abbreviations.

1. Financial Ethics: An Overview.

The Need for Ethics in Finance.

Ethics and Financial Markets.

The Financial Services Industry.

Individuals in Organizations.

2. Theoretical Perspectives in Finance.

Equity and Efficiency.

Fiduciaries, Agents, and Professionals.

Agency Theory.

Conflict of Interest.

3. Ethical Issues in Financial Services.

Sales Practices.

Churning, Twisting, and Flipping.

Arbitration.

Personal Trading.

Mutual Funds.

4. Ethical Issues in Investment Decisions.

Bank Lending Practices.

Socially Responsible Investing.

Relationship Investing.

Investment and the New Finance.

5. Ethics in Financial Markets.

Insider and Program Trading.

The Ethics of Bankruptcy.

Hostile Takeovers.

6. The Financial Theory of The Firm.

Traditional Theories.

The Contractual Theory.

The Objective of the Firm.

The Stakeholder Challenge.

Index

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Author Information

John R. Boatright is the Raymond C. Baumhart, S. J., Professor of Business Ethics and Professor of Management in the School of Business Administration at Loyola University Chicago. He is author of the textbook Ethics and The Conduct of Business, and editor of a casebook Cases in Ethics and the Conduct of Business. Boatright is a former president of the Society for Business Ethics, and he serves on the editorial boards of Journal of Business Ethics, Business Ethics Quarterly, and Business and Society Review. A graduate of the College of Wooster, he received his MA and PhD in Philosophy from the University of Chicago.
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New to This Edition

  • Now includes discussion of issues in mutual funds and financial engineering, the independence of analysts at investment banks, and the bank’s responsibility for the conduct of its clients
  • Features a new chapter on conflicts of interest in financial services, expanded treatment of ethical issues in IPOs, and a new discussion about the discarding of pension funds
See More

The Wiley Advantage

  • A comprehensive overview of ethical issues in finance
  • Focuses on practical issues that confront finance professionals and policy makers
  • Now includes discussion of issues in mutual funds and financial engineering, the independence of analysts at investment banks, and the bank’s responsibility for the conduct of its clients
  • Features a new chapter on conflicts of interest in financial services, expanded treatment of ethical issues in IPOs, and a new discussion about the discarding of pension funds
  • Cites examples of the scandals that have shaken public confidence in Wall Street
See More

Reviews

“In this new edition Boatright provides broad coverage of the topic, encompassing financial markets, the financial service industry, and investment decisions made by corporate personnel and individuals. Boatright clearly explains the ethical issues but does not take a position, since it is the individual's obligation to make the ethical choice. A volume for all readers concerned with financial decision making. Extensive notes and index. Highly recommended.” (Choice Reviews, December 2008)

“Ethics in Finance comprehensively analyzes important ethical issues in the field of finance. Boatright deftly melds theory and application by focusing on key concepts and practices. In so doing, he demonstrates the critical importance of ethics for this vital industry.”
–Thomas W. Dunfee, The Wharton School, University of Pennsylvania

“Boatright’s breadth of coverage is remarkable. He combines a clear presentation of the contractual theory of the firm, agency theory, and ethical reasoning as they apply to issues in today’s financial practices. There is much here for the professor as well as the student.”
–Lee A. Travis, University of Notre Dame

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