Including ethics in banking and finance programs: teaching “we shouldn’t win at any cost”

2016 ◽  
Vol 58 (1) ◽  
pp. 94-111 ◽  
Author(s):  
Grainne Oates ◽  
Roshanthi Dias
Keyword(s):  
Design Methodology ◽  
Global Financial Crisis ◽  
Content Type ◽  
Course Content ◽  
Banking And Finance ◽  
Moral Failure ◽  
Global Banking ◽  
The Global Financial Crisis ◽  
Ethics Courses ◽  
Australian Universities

Purpose – The purpose of this paper is to identify whether ethics is incorporated into the curriculum in postgraduate banking and finance programmes. There is growing concern that moral failure preceded the global financial crisis with waves of ethical scandals overwhelming the global banking industry highlighting a lack of integrity. Consequently, banking and financial institutions have received much criticism for focusing on higher financial returns that bring personal rewards with significant costs to the majority of society. Design/methodology/approach – The population for this study is Australian universities offering banking and finance postgraduate programs. The data for this study were collected from information available on university websites. The study uses content analysis to examine course content in 897 courses offered within banking and finance programmes. Findings – Findings reveal that 809 (90 per cent) out of 897 courses do not incorporate ethics into banking and finance programmes. Most of the 88 courses incorporating ethics as include the course as “core”, with a relatively small number offering ethics as an “elective”. Only a few courses were offered as stand-alone ethics courses. It appears from the information available that little focus is given to assessment of ethics. Originality/value – This is the first study to explore whether ethics is featured in postgraduate banking and finance programmes.

How firms borrow in international bond markets

2018 ◽  
Vol 26 (1) ◽  
pp. 135-169
Author(s):  
Alberto Fuertes ◽  
Jose María Serena
Keyword(s):  
Emerging Economies ◽  
Design Methodology ◽  
Choice Behavior ◽  
Global Financial Crisis ◽  
Securities And Exchange Commission ◽  
Bond Markets ◽  
Data Set ◽  
Content Type ◽  
Parametric Analyses ◽  
The Global Financial Crisis

Purpose This paper aims to investigate how firms from emerging economies choose among different international bond markets: global, US144A and Eurobond markets. The authors explore if the ranking in regulatory stringency –global bonds have the most stringent regulations and Eurobonds have the most lenient regulations – leads to a segmentation of borrowers. Design/methodology/approach The authors use a novel data set from emerging economy firms, treating them as consolidated entities. The authors also obtain descriptive evidence and perform univariate non-parametric analyses, conditional and multinomial logit analyses to study firms’ marginal debt choice decisions. Findings The authors show that firms with poorer credit quality, less ability to absorb flotation costs and more informational asymmetries issue debt in US144A and Eurobond markets. On the contrary, firms issuing global bonds – subject to full Securities and Exchange Commission requirements – are financially sounder and larger. This exercise also shows that following the global crisis, firms from emerging economies are more likely to tap less regulated debt markets. Originality/value This is, to the authors’ knowledge, the first study that examines if the ranking in stringency of regulation – global bonds have the most stringent regulations and Eurobonds have the most lenient regulations – is consistent with an ordinal choice by firms. The authors also explore if this ranking is monotonic in all determinants or there are firm-specific features which make firms unlikely to borrow in a given market. Finally, the authors analyze if there are any changes in the debt-choice behavior of firms after the global financial crisis.

Corporate governance, the GFC and independent directors

2015 ◽  
Vol 30 (4/5) ◽  
pp. 324-346 ◽  
Author(s):  
Belinda Rachael Williams ◽  
Simone Bingham ◽  
Sonia Shimeld
Keyword(s):  
Corporate Governance ◽  
Design Methodology ◽  
Global Financial Crisis ◽  
Good Governance ◽  
Board Composition ◽  
Content Type ◽  
Effective Governance ◽  
Analysis Techniques ◽  
The Global Financial Crisis ◽  
Made In

Purpose – The purpose of this study is to understand how board composition and independent non-executive director (INED) disclosures have changed in light of the global financial crisis (GFC) from an accountability perspective. Design/methodology/approach – Content analysis techniques were undertaken on a random sample of 75 publicly listed companies across two time periods, 2005 and 2010. Findings – The findings highlighted increased INED board membership and increased skill and experience disclosure across all board positions, with the most significant increase being the INED position. The results support the notion that firms are attempting to restore their accountability relationships post-GFC through more transparent mechanisms of governance. However, concerns are also raised in the way individual companies are meeting the ASX Corporate Governance independence requirements. Research limitations/implications – The results raise questions as to whether firms have implemented these changes to ensure effective governance and accountability responsibilities, or simply to give the appearance of good governance. Originality/value – Little attention has been given in the literature to the characteristics of INEDs and whether board changes have been made in the wake of corporate and financial crises. The findings from this study contribute to an understanding of board composition and disclosures pre- and post-GFC.

Taking the ethical lead

2020 ◽  
Vol 34 (4) ◽  
pp. 37-39
Keyword(s):  
Financial Crisis ◽  
Oil Spill ◽  
Design Methodology ◽  
Reading Time ◽  
Global Financial Crisis ◽  
Content Type ◽  
Lehman Brothers ◽  
Pertinent Information ◽  
The Global Financial Crisis ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds his/her own impartial comments and places the articles in context. Findings Take any financial or environmental scandal perpetrated by a major company – and unfortunately, there are quite a few to choose from – and people will tend to remember what went wrong and some of the fallout from the scandal, but it is unlikely they will know much about why something went wrong. For example, people will remember that Lehman Brothers went bust during the global financial crisis (GFC) in 2008 and can picture its employees leaving its offices with Iron Mountain boxes. They will also perhaps remember the Exxon Valdez oil spill in Alaska in 1989, and the devastation it caused the local wildlife. But does anyone remember exactly why these events occurred? Practical implications This paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Fostering entrepreneurship: the crucial role of monitoring schemes

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Gabriel Gomes da Cunha ◽  
Paulo Arvate
Keyword(s):  
Design Methodology ◽  
Global Financial Crisis ◽  
Content Type ◽  
Monitoring Design ◽  
The Difference ◽  
Regression Kink Design ◽  
The Global Financial Crisis ◽  
Entrepreneurial Activities ◽  
Positive Results

PurposeThe purpose of this paper is to investigate the effect of government-led programs on the engagement of individuals in entrepreneurship.Design/methodology/approachThe authors worked with government-led programs of 16 European countries between 2003 and 2014 and were able to benefit from the 2008 natural experiment (i.e. the global financial crisis) to produce a robust investigation using a regression kink design (RKD).FindingsThe work shows that government-led programs that are designed to include monitoring schemes can significantly increase individuals' engagement in opportunity-driven entrepreneurship. The authors found that monitoring schemes do not have the same relevance for necessity-driven entrepreneurship. Therefore, the authors believe the difference occurs because monitoring design avoids problems related to moral hazard and adverse selection when it comes to individuals choosing whether to participate (or not) in government-led programs.Originality/valueWhile it is important for governments to provide an enabling environment for entrepreneurship, this study showed that not all types of public program have positive results. In fact, it has been demonstrated that poorly-designed programs can actually decrease the likelihood of individuals engaging in entrepreneurial activities. The efficiency of programs is substantially improved, however, when they are designed to include monitoring schemes.

Three rules for strategy at Deloitte Consulting

2015 ◽  
Vol 32 (1) ◽  
pp. 35-37
Keyword(s):  
Decision Making ◽  
Financial Crisis ◽  
Design Methodology ◽  
Reading Time ◽  
Global Financial Crisis ◽  
Business Leaders ◽  
Content Type ◽  
Pertinent Information ◽  
The Global Financial Crisis ◽  
Practical Implications

Purpose – This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach – This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings – A lot has been written of the consequences of the global financial crisis (GFC) in the late 2000s – who was to blame, who should have seen it coming, who didn’t see it coming and who claimed to have predicted it years later. Such speculation has contributed to what might be termed a “global crisis of confidence”, as all the established rules went out of the window. Business leaders didn’t know who to trust any more, and decision-making suddenly got a lot more difficult as a result. Practical implications – The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value – The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

scholarly journals Global banking after the GFC: lessons for India

2015 ◽  
Vol 7 (2) ◽  
pp. 196-204
Author(s):  
Andy Mullineux
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
State Ownership ◽  
Structural Reform ◽  
Market Failures ◽  
Eurozone Crisis ◽  
Content Type ◽  
Keynote Presentation ◽  
Global Banking ◽  
The Global Financial Crisis

Purpose – This paper is based on a keynote presentation at the 2nd Pan IIM World Management Conference hosted by the Indian Institute of Management (IIM) in Kozhikode (IIMK) in November 2014. Design/methodology/approach – This paper draws lessons from the “Global” Financial Crisis for the governance, regulation and structural reform of banking, as well as monetary policy in a globalising financial system. Lessons are also drawn from the Eurozone Crisis, the Asian Financial Crisis and China. Findings – This paper concludes that the appropriate extent of state ownership of banks and the process for reducing it, while also recapitalising banks, along with the development of capital markets, should be an integral part of India’s wider structural reform programme. Originality/value – The paper provides lessons for India with regard to banking and economic growth, financial sector development and addressing market failures in small- and medium-sized enterprises and infrastructural finance.

Out of the ordinary

2020 ◽  
Vol 34 (4) ◽  
pp. 33-35
Keyword(s):  
Organizational Development ◽  
Design Methodology ◽  
Reading Time ◽  
Global Financial Crisis ◽  
Environmental Concerns ◽  
Content Type ◽  
Development Path ◽  
Pertinent Information ◽  
The Global Financial Crisis ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds his/her own impartial comments and places the articles in context. Findings Are we entering the next stage of organizational development? It could be argued that the learning organization, by necessity, follows macroeconomic and wider environmental concerns, and certainly the first 20 years of the 2000s has seen a thirst for growth through unregulated markets quelled following the global financial crisis (GFC). The search for new growth after that readjustment does, however, seem at odds with the need for a more sustainable development path. If markets still require growth, but organizations are less able to produce it, what is the next stage? It is hard to argue that it will have to factor in the so-called “VUCA” environment. Practical implications This paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Wellbeing and the workplace

2017 ◽  
Vol 25 (4) ◽  
pp. 38-40
Keyword(s):  
Design Methodology ◽  
Global Financial Crisis ◽  
Content Type ◽  
Work From Home ◽  
Pertinent Information ◽  
Increase Productivity ◽  
The One ◽  
The Global Financial Crisis ◽  
Improved Technology ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings The concept of wellbeing is all the rage following the ravages of the Global Financial Crisis, and step-change in people’s view of work-life balance on the one hand and how enhancing employees’ contentment can increase productivity on the other. This, coupled with much-improved technology such as Skype, and greater access to super fast broadband means that connectivity across regions, countries and internationally has allowed many more workers to work from home regularly and maintain greater contact with family and friends. As a result, wellbeing is no longer viewed by firms as a luxury but rather a necessity. Practical implications The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Legislative and regulatory responses to the global financial crisis from within the United Kingdom

2014 ◽  
Vol 21 (2) ◽  
pp. 124-148 ◽  
Author(s):  
Graeme Baber
Keyword(s):  
United Kingdom ◽  
Financial Crisis ◽  
Design Methodology ◽  
Global Financial Crisis ◽  
The European Union ◽  
Content Type ◽  
The United Kingdom ◽  
Economic Statistics ◽  
The Global Financial Crisis ◽  
The Uk

Purpose – The purpose of this paper is to report and review the legislative and regulatory responses to the global financial crisis (GFC) from within the United Kingdom (UK). Design/methodology/approach – The paper observes aspects of the effect of the GFC within the UK, using economic statistics and institutional case studies. It summarises the laws that the European Union (EU) and the UK have produced in the wake of the crisis and recommends approaches to be taken from this point. Findings – The regulators are putting in place a comprehensive, integrated framework, much of which is sensible in its content. However, this structure will be insufficient to re-establish the effective operation of the financial sector, unless firms comply with the rules and a “relationship culture” is developed. Research limitations/implications – It is not yet clear how the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) will perform and coordinate. Originality/value – The paper presents a comprehensive review of relevant EU and UK legislation, thereby bringing readers up to date with the situation in the UK.

Teaching introductory macroeconomics during the Greek financial crisis

2019 ◽  
Vol 46 (8) ◽  
pp. 1032-1045
Author(s):  
John Marangos
Keyword(s):  
Financial Crisis ◽  
Design Methodology ◽  
Global Financial Crisis ◽  
Recent Survey ◽  
Content Type ◽  
Economic Theories ◽  
Eclectic Approach ◽  
Personal Experiences ◽  
Perceptions Of Teaching ◽  
The Global Financial Crisis

Purpose The purpose of this paper is to determine how including the Greek financial crisis in teaching introductory macroeconomics benefits students. Design/methodology/approach The methodology is based on the responses of a recent survey administered to students at a university in Greece. Findings An eclectic approach that distinguishes various economic theories and methodologies, mainly neoclassical and Keynesian, can provide a pedagogical way of teaching introductory macroeconomics, allowing students to use their everyday personal experiences in determining the most “suitable” theory in explaining the crisis. Originality/value To the author’s knowledge, such an exercise of discovering students’ perceptions of teaching an introductory macroeconomics Substitute with course during the global financial crisis has not yet been attempted.

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