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Conflicts of interest in financial intermediation

Palazzo, Guido and Rethel, Lena (2008) Conflicts of interest in financial intermediation Journal of Business Ethics, 81, (1), pp. 193-207. (doi:10.1007/s10551-007-9488-z).

Record type: Article


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.

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e-pub ahead of print date: 14 July 2007
Published date: August 2008
Keywords: financial intermediation, conflict of interests, principal-agent theory


Local EPrints ID: 151725
ISSN: 0167-4544
PURE UUID: eaed4728-6722-4114-9b19-215708475605

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Date deposited: 12 May 2010 10:20
Last modified: 18 Jul 2017 12:55

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Author: Guido Palazzo
Author: Lena Rethel

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