Finance Ethics Critical Issues in Theory and Practice

by Boatright, John R.

• ISBN13: 9780470499160
• ISBN10: 0470499168
• Edition: 1st
• Format: Hardcover
• Copyright: 2010-08-23
• Publisher: Wiley

Summary

Ethics in Finance is a ground-breaking work in the emerging field of finance ethics. Beginning with examples of the scandals that have shaken public confidence in the ethics of Wall Street, this book explains the need for ethics in the personal conduct of finance professionals and the operation of financial markets and institutions. Provides a comprehensive overview of the ethical issues in finance. The discussion of ethical issues is framed in terms familiar to people in finance. Focus is on practical issues that confront people in all areas of finance and that arise in the developing government and industry regulation. Among the many sources are court cases, regulatory actions, and industry reports. The book contains an in-depth examination of the firm as a nexus of contracts and shareholder wealth maximization as the objective of the firm.

Author Biography

John R. Boatright, editor of this volume, draws together the contributions of distinguished scholars from a wide range of disciplines-including finance, economics, philosophy, management, and law-to present essential perspectives on various ethics issues facing the financial services industry. While providing a rigorous analysis of all the topics covered-from due diligence and insider trading to socially responsible investing, executive compensation, and more-the book focuses special attention on fairness in markets and the delivery of financial services, as well as the duties of fiduciaries and agents.

Table of Contents

Overview	p. 1
Ethics in Finance	p. 3
Finance Theory	p. 21
Ethical Implications of Finance	p. 23
Behavioral Assumptions of Finance	p. 45
Efficiency and Rationality	p. 63
Returns, Risk, and Financial Due Diligence	p. 85
Reputational Risk	p. 103
Agency Theory	p. 125
The Financial Theory of the Firm	p. 143
Financial Markets	p. 161
Fairness in Financial Markets	p. 163
Regulation	p. 179
Insider Trading	p. 199
Derivative Contracts: Futures, Options, and Swaps	p. 223
Hedge Funds	p. 239
Sovereign Wealth Funds	p. 253
Financial Services	p. 273
Marketing of Financial Services	p. 275
Financial Codes of Ethics	p. 297
Banking	p. 325
Mutual Funds	p. 339
Pension Funds	p. 359
Insurance	p. 373
Responsible Investing	p. 393
Microfinance	p. 419
Financial Management	p. 435
Shareholder Wealth Maximization	p. 437
Earnings Management	p. 457
Investor Relations	p. 475
Risk Management	p. 495
Bankruptch	p. 509
Acquisitions, Mergers, and Takeovers	p. 531
Executive Compensation	p. 547
Boards of Directors	p. 565
Index	p. 585
Table of Contents provided by Ingram. All Rights Reserved.