By John R. Boatright

Ethics in Finance by John Boatright
Editions:Paperback: € 35.90
ISBN: 978-1-118-61582-9
Pages: 296
ePub: € 32.99
ISBN: 978-1-118-78926-1

The third edition of Ethics in Finance presents an authoritative and wide-ranging examination of the major ethical issues in finance. This new edition has been expanded and thoroughly updated with extensive coverage of the recent financial crisis and the very latest developments within the financial world.

  • Substantially updated new edition with nearly 40% new material, including sections on credit cards, mortgage lending, microfinance, risk management, derivatives, and securitization
  • Includes coverage and references to the recent financial crisis and the very latest developments within the financial world
  • Focuses on the practical issues that confront finance professionals, policy makers, and consumers of financial services
  • Cites examples of the scandals that have shaken public confidence in Wall Street and world financial markets
  • Includes numerous examples throughout to illustrate the concepts and issues described within the text

About John R. Boatright

John R. BoatrightJohn R. Boatright is the Raymond C. Baumhart, S.J., Professor of Business Ethics in the Quinlan School of Business at Loyola Universi­ty Chicago, and Director of the Baumhart Center for Social Enterprise and Responsibility. He is the author of the book Ethics and the Conduct of Business (2012) and the editor of Finance Ethics: Critical Issues in Theory and Practice (Wiley, 2010). He is a past President of the Society for Business Ethics, and he serves on the editorial boards of Business Ethics Quarterly, Journal of Business Ethics, and Business and Society Review. He received his PhD in philosophy from the University of Chicago.

Reviews:Lee A. Tavis on Business Ethics Quarterly wrote:

"The finance literature tends to ignore rights (other than the right to property) or justice-based arguments, while ethicists consider and soundly reject the finance determination for shareholder control. [...] This is the breach into which Boatright steps, and not with an exploratory manuscript, but with a textbook. [...] Boatright takes seriously the theories relevant to the allocation of financial resources in our society. He crisply describes financial theory and fits the ethical issues into that construct. This work deals with a wide range of finance, from the behavior of financial markets, to the ethical issues in the management of financial services, to financial management. It fills an important niche in the finance literature. To my knowledge, there is no other book with this approach or breadth of coverage. [...] His is the first extended attempt to incorporate ethical considerations into the way we teach finance, using a collaborative rather than a confrontational approach. The book's strength is in addressing specific practices in financial markets and services. Boatright's detailed coverage of the United States law, its application, and ethical issues as distinct from the law is unique. An interesting yet challenging part of the text is Boatright's analysis of the arguments for shareholder control and the maximization of shareholder wealth. His treatment is carefully balanced with the point and counterpoint approach. However, readers will find themselves diagraming the argument and being left with a less than satisfactory conclusion. For finance faculty interested in the ethical implications of the field, this book is an important contribution in terms of its breadth of coverage as well as the extent and balance of its argument. As a step in the development of his Moral Market Model, Boatright positions ethical considerations within the financial view of the business enterprise. Boatright's theory may be an effective way of gaining ethical access into the rigidity of financiancial models and curriculum."

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Table of Contents of Ethics in Finance

  1. Finance Ethics: An Overview
  • The Need for Ethics in Finance
  • The Field of Finance Ethics
  1. Fundamentals of Finance Ethics
  • A Framework for Ethics
  • Agents, Fiduciaries, and Professionals
  • Conflict of Interest
  1. Ethics and the Retail Customer
  • Sales Practices
  • Credit Cards
  • Mortgage Lending
  • Arbitration
  1. Ethics in Investment
  • Mutual Funds
  • Relationship Investing
  • Socially Responsible Investing
  • Microfinance
  1. Ethics in Financial Markets
  • Fairness in Markets
  • Insider Trading
  • Hostile Takeovers
  • Financial Engineering
  1. Ethics in Financial Management
  • The Corporate Objective
  • Risk Management
  • Ethics of Bankruptcy
  • Corporate Governance