Financial Ethics —— A Positivist Analysis

----- 财政伦理：实证分析

ISBN: 9780195305968 出版年：2011 页码：152 Aragon, George A Oxford University Press

PREFACE I 1. NORMATIVE AND POSITIVE APPROACHES TO FINANCIAL ETHICS 1-1 1.1 A WORKING DEFINITION OF FINANCIAL ETHICS 1-1 1.2 FINANCIAL ETHICS AND BUSINESS ETHICS 1-3 1.3 ORGANIZATION OF THE BOOK 1-7 2. FINANCIAL ETHICS AS A FIELD OF STUDY 2-1 2.1 INEVITABLE INTERCONNECTIONS BETWEEN FINANCE AND ETHICS 2-1 2.1.1 THE EXPANDING DOMAINS OF ECONOMICS AND ETHICS 2-2 2.1.2 THE EVOLUTION OF FINANCIAL ECONOMIC RESEARCH 2-4 2.1.3 FINANCIAL SCANDALS 2-6 2.1.4 INVESTOR ACTIVISM 2-8 2.2 EVIDENCE OF ACADEMIC INTEREST IN FINANCIAL ETHICS 2-9 2.3 CHALLENGES TO THE INTEGRATION OF ETHICS AND FINANCE 2-11 2.4 THE FINANCE IS VALUE-FREE ARGUMENT 2-12 2.5 FRAMEWORK FOR FINANCIAL ETHICS 2-14 2.6 CONCLUSION 2-16 3. ELEMENTS OF A POSITIVE FINANCIAL ETHICS 3-1 3.1 ETHICAL EXPECTATIONS AND ECONOMIC VALUE 3-1 3.2 ETHICAL RISK 3-2 3.3 ETHICAL RISK AND PERFECT COMPETITION 3-4 3.4 ETHICAL RISK AND IMPERFECT COMPETITION 3-5 3.5 POSITIVE FINANCIAL ETHICS: AN ILLUSTRATION FROM GAME THEORY 3-5 3.6 HOW VARIATION IN ETHICAL EXPECTATIONS MAY AFFECT THE TRUST GAME 3-8 3.6.1 GROUP SIZE 3-10 3.6.2 INTRINSIC MOTIVATIONS 3-11 3.7 CONCLUSION 3-12 4. THE ETHICAL TECHNOLOGIES OF FINANCE 4-1 4.1 INTRODUCTION 4-1 4.2 FINANCIAL ETHICAL TECHNOLOGIES 4-1 4.3 OVERVIEW OF ETHICAL TECHNOLOGIES 4-2 4.4 INSTRUMENTAL ETHICAL TECHNOLOGIES 4-4 4.5 PROCEDURAL TECHNOLOGIES 4-10 4.6 EXPRESSIVE TECHNOLOGIES 4-16 4.7 ETHICAL TECHNOLOGIES IN THE CONCEPT OF DISCRIMINATING ALIGNMENT 4-18 4.8 CONFLICTS AMONG THE ETHICAL TECHNOLOGIES 4-19 4.9 CONCLUSION 4-20 5. STUDIES ON THE INCIDENCE OF EXPROPRIATION 5-1 5.1 ETHICAL RISKS AND CAPITAL MARKETS 5-1 5.2 ECONOMIC PERFORMANCE ACROSS COUNTRIES 5-1 5.2.1 SOVEREIGN EXPROPRIATION RISK 5-3 5.2.2 TRUST AND EXPROPRIATION RISK 5-6 5.3 ETHICAL RISKS AND CORPORATE FINANCE 5-7 5.3.1 EXPROPRIATION RISK ACROSS COUNTRIES 5-7 5.3.2 EXPROPRIATION RISK ACROSS FIRMS 5-9 5.4 INTRA-SHAREHOLDER EXPROPRIATION 5-13 5.4.1 "SHARKING" AND "TUNNELING" 5-13 5.4.2 MULTIPLE SHARE CLASSES 5-17 5.4.3 "GREENMAIL" 5-18 5.4.4 INSIDER TRADING 5-19 5.5 EXPROPRIATION FROM OTHER STAKEHOLDERS 5-19 5.5.1 EXPROPRIATION FROM EMPLOYEES 5-20 5.5.2 EXPROPRIATION FROM MARKETS 5-21 5.6 SUMMARY 5-25 6. FINANCIAL RESEARCH RELATING TO TRUST 6-1 6.1 TRUSTWORTHINESS 6-1 6.2 TRUST AND THE PRISONER'S DILEMMA GAME 6-2 6.3 TRUST AND GROUP SIZE 6-8 6.4 TRUST AND PRINCIPAL-AGENT RELATIONSHIPS 6-13 6.5 CONCLUSION 6-15 REFERENCES 1