Corporate Finance and Original Sin

Corporate Finance and Original Sin

The unique characteristics of the financial services industry present practitioners with challenging ethical demands. Of these, the potential for extraordinary monetary gain and the moral anesthesia resulting from the inward-looking nature of the profession conspire to hamstring effective regulation...

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Veröffentlicht in:Financial analysts journal 2006-05, Vol.62 (3), p.20-23
1. Verfasser: Bernstein, William J.
Format: Artikel
Sprache:eng
Schlagworte:
Banking regulation
Brokerage industry
Business ethics
Capital costs
Conflicts of interest
Costs
Ethics
Finance
Financial services
Industrial regulation
Investment management companies
Morality
Original sin
Perspectives
Portfolio management
Professional ethics
Professions
Self regulation
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Zusammenfassung:The unique characteristics of the financial services industry present practitioners with challenging ethical demands. Of these, the potential for extraordinary monetary gain and the moral anesthesia resulting from the inward-looking nature of the profession conspire to hamstring effective regulation by industry insiders. Effective control of the industry must come from outside the industry. The choice is between regulation by a private entity and regulation by a governmental body. [PUBLICATION ABSTRACT]
ISSN:0015-198X
1938-3312
DOI:10.2469/faj.v62.n3.4153