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- Publisher
- Springer Journals
- Copyright
- Copyright © 2007 by Springer Science+Business Media B.V.
- Subject
- Philosophy; Ethics; Business and Management, general; Management; Business Ethics; Quality of Life Research
- ISSN
- 0167-4544
- eISSN
- 1573-0697
- DOI
- 10.1007/s10551-007-9488-z
- Publisher site
- See Article on Publisher Site
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.
Journal
Journal of Business Ethics – Springer Journals
Published: Jul 14, 2007