By Paul Kofman and Clare Payne
From the marble trading floors of Wall Street to the dirt floor of a microfinance lender in rural Sumatra, finance touches everybody's lives. From small personal loans to collateralised debt obligations, it promises solutions for a better, more prosperous future. But not much in life is guaranteed, and financial outcomes may not match consumer expectations. When trust between practitioners and their clients is undermined it threatens the very fabric of our financial system. The result can be personal disappointment, but the financial crisis of 2007-08 highlighted how we can all be affected when economies are jeopardised by financial mismanagement. A Matter of Trust explores how the finance sector can stand as a true profession and provides a practical guide to make everyday business decisions in an ethically sound way.
Relevant Links
- "Fast-changing technology and some dubious business practices are eroding customer and public trust, especially in the finance sector. Paul Kofman suggests some remedies." - short opinion piece by Kofman in Global Focus (EFMD Business Magazine), 18 October 2018
- "How Banks Can Address the 'Trust Deficit'", 18-minute radio interview with Kofman and another panelist at ABC
About Paul Kofman and Clare Payne
Paul Kofman is Dean of the Faculty of Business and Economics at the University of Melbourne. His research interests and publications are in quantitative and behavioural finance and the regulation of financial markets. He was one of the founding directors of the ARC-funded Financial Integrity Research Network. With his colleague Clare Payne, Paul introduced one of the first online subjects at The University of Melbourne, 'Ethics in Finance'. With his colleague Sean Pinder, Paul also designed and developed the first Coursera MOOC specialisation, 'Essentials of Corporate Financial Analysis and Decision Making', in partnership with BNY Mellon.
Clare Payne is a globally recognised leader for her work in ethics in finance and commitment to social issues. She is a World Economic Forum Young Global Leader and has been recognised by the Australian Financial Review and Westpac as one of their 100 Women of Influence. Clare is a former employment lawyer and an accomplished marathon swimmer.
