Conflicts of interest in financial intermediation
Palazzo, Guido and Rethel, Lena (2008) Conflicts of interest in financial intermediation. Journal of Business Ethics, 81, (1), 193-207. (doi:10.1007/s10551-007-9488-z).
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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.
|Keywords:||financial intermediation, conflict of interests, principal-agent theory|
|Subjects:||H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
H Social Sciences > HF Commerce
B Philosophy. Psychology. Religion > BJ Ethics
|Divisions:||University Structure - Pre August 2011 > School of Social Sciences > Sociology and Social Policy
|Date Deposited:||12 May 2010 10:20|
|Last Modified:||22 Aug 2012 03:10|
|Contributors:||Palazzo, Guido (Author)
Rethel, Lena (Author)
|RDF:||RDF+N-Triples, RDF+N3, RDF+XML, Browse.|
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