Ethics, Misconduct and the Financial Services Industry : Towards a Theory of Moral Business book cover
1st Edition

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

ISBN 9780367618711
Published August 1, 2022 by Routledge
152 Pages 14 B/W Illustrations

FREE Standard Shipping
USD $48.95

Prices & shipping based on shipping country


Book Description

This book explores how ethics and the moral context of business have evolved

historically in inf luential 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 semistructured in-depth interviews. The uniqueness of the

proposed approach comes first from the consolidation of many perspectives

such as management, organization studies, and business anthropology rather

than focusing on one particular subdiscipline; second, from using a mixed

methodology, combining literature reviews with empirical, exploratory research

based on interviews; and third from including a narrative context in the

analysis and proposed future theory framework.

This book will appeal to students, researchers, and scholars who teach ethics

in the fields of economics or business. It is useful for advancing theory and

research on moral management and as a resource for management practitioners

looking to create business practices fostering moral sensitivity. Those interested

in setting future development directions may also find the proposed

consolidation of theoretical and empirical evidence valuable 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 postdoc fellowship at the 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