1st Edition

Ethics, Misconduct and the Financial Services Industry
Towards a Theory of Moral Business

  • Available for pre-order. Item will ship after December 28, 2020
ISBN 9780367618667
December 28, 2020 Forthcoming by Routledge
152 Pages 14 B/W Illustrations

USD $160.00

Prices & shipping based on shipping country


Book Description

This book explores how ethics and the moral context of business has evolved historically in the influential management theories and concepts. It looks at how managerial thought accommodates morality, values and ethics and demonstrates the emerging patterns of ethical conduct to illustrate how moral aspects of management and organizational practice can become peripheral.

The author examines a diverse range of data sources such as the most seminal books in management and academic papers published in the mainstream academic literature. The readings selected in the process are subject to critical analysis and are complemented by an exploratory study of the financial services industry, based on semi-structured in-depth interviews. The novelty of the proposed approach comes firstly from consolidation of many perspectives such as management, organization studies or business anthropology rather than focusing on one particular sub-discipline, secondly, using a mixed methodology, combining literature reviews with empirical, exploratory research based on interviews and thirdly from including a narrative context in the analysis and proposed future theory framework.

The book will appeal to students, researchers and scholars who teach ethics in the field of economics or business. It will prove useful in advancing the theory and research on moral management. It will appeal to management practitioners and be helpful in creating business practices fostering moral sensitivity. Those interested in setting future development directions may find the proposed consolidation of theoretical and empirical evidence useful for the design of future policies.

Table of Contents

List of Figures

List of Tables



1. Traps for a moral management

1.1 Moral management against commercial ethics

1.2 Rigour of efficiency

2. What makes management moral

2.1 Behaving individuals

2.2 Prevailance of common interest and emotional control

2.3 A threat of gradual justification of self-interest

2.4 Dominant features of moral management

3. Organized morality

3.1 Morality as contract

3.2 Corporation as a moral vehicle

3.3 Corporate leadership relieving laymen ignorance

3.4 Good or bad managers in a workplace

3.5 Organization conditioning morality

4. Dominant narratives – relativizing a moral imperative

4.1 Rise of business ethics and dominating utilitarian undertones

4.2 A rule of market

4.3 Moral markets

4.4 A limited liability morality

5 More compliance less moralizing. A case of financial services

5.1 The context of the financial crisis

5.2 Morality outside of a day-to-day practice?

5.3 A danger of systemic dysfunctionalities and centrality of the regulatory doctrine

5.4 Future avenues

6. A possibility of a moral theory

6.1 Challenges

6.2 A narrative theory of moral business.

6.3. Moral vagueness of the rule of organizing?




General method

Financial services study - method and data collection

Considered influential papers

Themes in key management and organization conferences


View More



Barbara Fryzel is an economist and Associate Professor of Management at Jagiellonian University in Krakow. She is a laureate of the Foundation for Polish Science for the post-doc fellowship at University College London as well as a management practitioner with business development and corporate advisory experience in multinational firms. Her research interests cover corporate social responsibility, behavioural ethics and organizational culture.


"The book aims at developing a new analytical as well as historical framework for understanding and enhancing our corporate civilization. Barbara sets out her vision of moral behaviour and discusses the changes needed to using business as a force for good. Managers need to embrace a sense of purpose beyond making profits and to find new business opportunities to meet society’s needs.

The emerging proposal advocated by the Author is to favour the transition from Corporate Social Responsibility to Corporate Civil Responsibility. Companies, in fact, are not purely private associations, rather they are little governments created by the State legislation to advance public ends.

Barbara provides corporate executives clear evidence that taking ethics not just as a constraint to their behaviour, but as an argument of their objective function constitutes the surest path to success, especially in such turbulent times as the present ones. This is a book for the realist with conscience." — Stefano Zamagni, Professor of economics,University of Bologna and SAIS Europe, Johns Hopkins University