Conflicts of Interest in Financial Intermediation

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Serval ID
serval:BIB_9AEF9858F24E
Type
Article: article from journal or magazin.
Collection
Publications
Institution
Title
Conflicts of Interest in Financial Intermediation
Journal
Journal of Business Ethics
Author(s)
Palazzo G., Rethel L.
ISSN
0167-4544
Publication state
Published
Issued date
2008
Peer-reviewed
Oui
Volume
81
Number
1
Pages
193-207
Language
english
Abstract
The last years have seen a surge of scandals in financial intermediation. This article argues that the agency structure inherent to most forms of financial intermediation gives rise to conflicts of interest. Though this does not excuse scandalous behavior it points out market imperfections. There are four types of conflicts of interest: personal-individual, personal-organizational, impersonal-individual, and finally, impersonal-organizational conflicts. Analyzing recent scandals we find that all four types of conflicts of interest prevail in financial intermediation.
Keywords
Financial intermediation, Conflict of interests, Principal-agent theory
Web of science
Open Access
Yes
Create date
29/11/2007 9:11
Last modification date
01/10/2019 7:18
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