Following the internationalisation, globalisation and deregulation
of the financial market over the last few decades, the financial
sector has evolved from a servicing industry into an initiating and
leading sector in the international industrialised economy. The
power of the financial sector, including Credit Rating Agencies,
determines the creditworthiness of companies and countries. Today's
financial sector dominates instead of serving the real economy,
which puts substantial pressure on all the agencies involved, not
least the banks, to make the profits that will drive economic
growth. As a result of this pressure, moral conduct in the
financial sector has been put under severe strain. This book
examines the experience of the recent financial crisis and argues
that a firmer ethical grounding for the financial sector is
required to prevent the crisis being repeated. The book offers a
model for making judgements on financial markets, institutions and
products. The model is built on seven major criteria which are
examined in depth: Justice, Nature, Sustainability, Legality, Risk
and Return, the Stakeholder model and Monism. This
multidisciplinary approach integrates philosophy, economics and law
to arrive at a new normative approach to financial ethics. This
book is a must-read for finance students at academic levels but
also for professionals in the financial sector, who can be helped
by implementing the model of NFE in solving financial dilemmas.
|Country of origin:
||Routledge Frontiers of Political Economy
||10 January 2017
||Electronic book text
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