Warren Buffet Philosophy

ETHICS IN FINANCE

DISCUSS THE ROLE AND IMPORTANCE OF ETHICS IN FINANCE IN LIGHT OF THE RECENT SPATE OF CORPORATE SCANDALS AND THE FINANCIAL CRISIS OF 2008. PARTICULAR REFERENCE IS TO BE MADE TO THE CASE PRO

TABLE OF CONTENTS

i. ABSTRACT............................................................................................................

1. INTRODUCTION.................................................................................................. 1

2. BACKGROUND AND NATURE OF ETHICS.................................................... 1

3. ROLE OF ETHICAL BEHAVIOUR IN FINANCE.............................................. 2

4. THE ECLECTIC UTILITARIAN FRAMEWORK OF ETHICS.......................... 2

5. THE CASE AGAINST ETHICS IN FINANCE.................................................... 3

6. CASES OF ETHICAL VIOLATIONS IN RECENT FINANCE HISTORY........ 4

6.1. ENRON...................................................................................................... 4

6.2. WORLDCOM............................................................................................ 6

6.3. 2008 FINANCIAL CRISIS........................................................................ 7

7. IMPORTANCE OF ETHICS IN FINANCE 9

7.1 SHAPING LEADERSHIP AND PROFFESIONALISM........................... 9

7.2 PROMOTING TRANSPARENCY............................................................ 10

7.3 ENCOURAGING SUSTAINABILITY...................................................... 10

8. CONCLUSION AND RECOMENDATIONS...................................................... 11

9. BIBLIOGRAPHY................................................................................................... I - III

APPENDIX 1: THE ECLECTIC UTILITARIAN FRAMEWORK......................... IV

ABSTRACT

Ethics is a complex concept which has been the focus of many debates for the past three millennia. The complexity of the concept of ethics is magnified by its...