A culture beyond repair? The nexus between ethics and sanctions in finance

Research output: Chapter in Book/Report/Conference proceedingChapter

Standard

A culture beyond repair? The nexus between ethics and sanctions in finance. / Cullen, J.P.

Just Financial Markets?: Finance in a Just Society. ed. / L. Herzog. Oxford University Press, 2017.

Research output: Chapter in Book/Report/Conference proceedingChapter

Harvard

Cullen, JP 2017, A culture beyond repair? The nexus between ethics and sanctions in finance. in L Herzog (ed.), Just Financial Markets?: Finance in a Just Society. Oxford University Press.

APA

Cullen, J. P. (2017). A culture beyond repair? The nexus between ethics and sanctions in finance. In L. Herzog (Ed.), Just Financial Markets?: Finance in a Just Society Oxford University Press.

Vancouver

Cullen JP. A culture beyond repair? The nexus between ethics and sanctions in finance. In Herzog L, editor, Just Financial Markets?: Finance in a Just Society. Oxford University Press. 2017

Author

Cullen, J.P. / A culture beyond repair? The nexus between ethics and sanctions in finance. Just Financial Markets?: Finance in a Just Society. editor / L. Herzog. Oxford University Press, 2017.

Bibtex - Download

@inbook{dae2dff6492c4538a93d8bdd7bc6181e,
title = "A culture beyond repair? The nexus between ethics and sanctions in finance",
abstract = "In the wake of the Great Financial Crisis and the attendant collapse of faith in market discipline, there has been a concerted attempt by regulators and state officials to address the perceived ethical deficit in banking. This chapter asks which form of approach has the best chance of success in encouraging bankers to act more responsibly. In particular, it discusses how law and regulation should be used to control socially excessive risk-taking, focusing on two key areas: the character of ?excessive? and socially suboptimal risk-taking in finance, which is often obfuscated, and the extent to which individual liability should be used to remedy the consequences of excessive risk-taking. It critical evaluates a variety of other approaches to this problem, focusing in particular on calls for the industry to introduce professional banking codes, which it rejects as based on conceptual misapprehensions.",
keywords = "Financial markets, excessive risk-taking, ethics and ethical failures, legal sanctions, UK law",
author = "J.P. Cullen",
note = "copyright 2017 Oxford University Press.",
year = "2017",
month = "5",
day = "18",
language = "English",
editor = "L. Herzog",
booktitle = "Just Financial Markets?: Finance in a Just Society",
publisher = "Oxford University Press",
address = "United States",

}

RIS (suitable for import to EndNote) - Download

TY - CHAP

T1 - A culture beyond repair? The nexus between ethics and sanctions in finance

AU - Cullen, J.P.

N1 - copyright 2017 Oxford University Press.

PY - 2017/5/18

Y1 - 2017/5/18

N2 - In the wake of the Great Financial Crisis and the attendant collapse of faith in market discipline, there has been a concerted attempt by regulators and state officials to address the perceived ethical deficit in banking. This chapter asks which form of approach has the best chance of success in encouraging bankers to act more responsibly. In particular, it discusses how law and regulation should be used to control socially excessive risk-taking, focusing on two key areas: the character of ?excessive? and socially suboptimal risk-taking in finance, which is often obfuscated, and the extent to which individual liability should be used to remedy the consequences of excessive risk-taking. It critical evaluates a variety of other approaches to this problem, focusing in particular on calls for the industry to introduce professional banking codes, which it rejects as based on conceptual misapprehensions.

AB - In the wake of the Great Financial Crisis and the attendant collapse of faith in market discipline, there has been a concerted attempt by regulators and state officials to address the perceived ethical deficit in banking. This chapter asks which form of approach has the best chance of success in encouraging bankers to act more responsibly. In particular, it discusses how law and regulation should be used to control socially excessive risk-taking, focusing on two key areas: the character of ?excessive? and socially suboptimal risk-taking in finance, which is often obfuscated, and the extent to which individual liability should be used to remedy the consequences of excessive risk-taking. It critical evaluates a variety of other approaches to this problem, focusing in particular on calls for the industry to introduce professional banking codes, which it rejects as based on conceptual misapprehensions.

KW - Financial markets

KW - excessive risk-taking

KW - ethics and ethical failures

KW - legal sanctions

KW - UK law

M3 - Chapter

BT - Just Financial Markets?: Finance in a Just Society

A2 - Herzog, L.

PB - Oxford University Press

ER -