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Reputational Penalties in Financial Markets: An Ethical Mechanism?
Series
Issues in business ethics
ISBN
978-94-007-4070-9
Type
book section
Date Issued
2011
Author(s)
Engelen, Peter-Jan
Editor(s)
Vandekerckhove, Wim
Leys, Jos
Alm, Kristian
Scholtens, Bert
Signori, Silvana
Schäfer, Henry
Abstract
Responsible investment (RI) and responsible corporate behaviour received a lot of attention during the last decade in the corporate social responsibility (CSR) literature (McWilliams and Siegel 2001, 2006). After the U.S. and European financial markets were being troubled in the early 2000s by several major scandals like Enron, Worldcom, Tyco and Parmalat, financial ethics received a lot of attention by the public as well. Irresponsible corporate behaviour can occur in different ways such as corruption, market abuse, fraud, insider trading, ecological harm, racial or sexual discrimination. Examples include foreign briberies to get supply contracts (Volkswagen), insider trading ahead of a profit warning (EADS), lower salaries for female employees (Wal-Mart), and worker’s conditions in Indonesia (Nike).
Language
English
HSG Classification
contribution to scientific community
Refereed
No
Book title
Responsible Investment in Times of Turmoil
Publisher
Springer
Publisher place
Dordrecht
Number
Vol. 31
Start page
55
End page
74
Pages
20
Subject(s)
Division(s)
Eprints ID
244777