New Financial Ethics: A Normative Approach (Hardback) book cover

New Financial Ethics

A Normative Approach

By Aloy Soppe

© 2017 – Routledge

230 pages | 31 B/W Illus.

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pub: 2016-12-09
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Description

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 pres - sure 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.

Table of Contents

PART I Introduction

1 The growing role of financial ethics

2 Positioning new financial ethics

3 Financial ethics in law

PART II Economic playing field

4 Financial markets and ethics

5 Financial ethics and the role of the company

PART III The new financial ethics model

6 Fundamentals for new financial ethics

PART IV Applications

7 Applications of new financial ethics

About the Author

Aloy Soppe is an Associate Professor of Financial Ethics at the School of Law of the Erasmus University in Rotterdam, Netherlands.

About the Series

Routledge Frontiers of Political Economy

In recent years, there has been widespread criticism of mainstream economics. This has taken many forms, from methodological critiques of its excessive formalism, to concern about its failure to connect with many of the most pressing social issues. This series provides a forum for research which is developing alternative forms of economic analysis. Reclaiming the traditional 'political economy' title, it refrains from emphasising any single school of thought, but instead attempts to foster greater diversity within economics.

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Subject Categories

BISAC Subject Codes/Headings:
BUS000000
BUSINESS & ECONOMICS / General
BUS008000
BUSINESS & ECONOMICS / Business Ethics