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Conflicts of interest in financial intermediation
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Palazzo, Guido and Rethel, Lena (2008) Conflicts of interest in financial intermediation. Journal of Business Ethics, Volume 81 (Number 1). pp. 193-207. doi:10.1007/s10551-007-9488-z
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Official URL: http://dx.doi.org/10.1007/s10551-007-9488-z
Abstract
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.
| Item Type: | Journal Article | ||||
|---|---|---|---|---|---|
| Subjects: | B Philosophy. Psychology. Religion > BJ Ethics H Social Sciences > HG Finance |
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| Divisions: | Faculty of Social Sciences > Politics and International Studies | ||||
| Library of Congress Subject Headings (LCSH): | Intermediation (Finance), Conflict of interests, Agency (Law) | ||||
| Journal or Publication Title: | Journal of Business Ethics | ||||
| Publisher: | Springer Netherlands | ||||
| ISSN: | 0167-4544 | ||||
| Official Date: | August 2008 | ||||
| Dates: |
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| Volume: | Volume 81 | ||||
| Number: | Number 1 | ||||
| Number of Pages: | 15 | ||||
| Page Range: | pp. 193-207 | ||||
| DOI: | 10.1007/s10551-007-9488-z | ||||
| Status: | Peer Reviewed | ||||
| Publication Status: | Published | ||||
| Access rights to Published version: | Restricted or Subscription Access |
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