RT Article
T1 Conflicts of Interest in Financial Intermediation
JF Journal of business ethics
VO 81
IS 1
SP 193
OP 207
A1 Palazzo, Guido 1968-
A1 Rethel, Lena
A2 Rethel, Lena
LA English
YR 2008
UL https://ixtheo.de/Record/1785630776
AB 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.
K1 principal-agent theory
K1 conflict of interests
K1 financial intermediation
DO 10.1007/s10551-007-9488-z