RT Article
T1 The Collapse of a European Bank in the Financial Crisis: An Analysis from Stakeholder and Ethical Perspectives
JF Journal of business ethics
VO 102
IS 2
SP 169
OP 191
A1 Fassin, Yves
A1 Gosselin, Derrick
A2 Gosselin, Derrick
LA English
YR 2011
UL https://ixtheo.de/Record/1785642642
AB Fortis, the leading Benelux financial group, had been a success story of successive mergers of bank and insurance companies, with leadership in corporate social responsibility (CSR). One year after the acquisition of the major Dutch financial conglomerate ABN AMRO, the global financial crisis caused the collapse of the Fortis group. The purpose of this article is to use the case study of Fortis’s recent fall as a basis for reflective considerations on the financial crisis, from stakeholder and ethical perspectives. A selected number of key events of the history of the dramatic crisis at Fortis will be analysed from different ethical frameworks. Special consideration will be given to fairness of communication, shareholder activism and conflicts of interests of CEO’s mergers opportunities. A confrontation between the CSR policy and the reality raises the fundamental questions why the powerful CSR guidelines and ethical principles did not help in the assessment of the risks.
K1 Acquisition
K1 CEO
K1 shareholder activism
K1 collapse
K1 Financial Crisis
K1 Bank
K1 Business Ethics
K1 Stakeholder
K1 CSR
DO 10.1007/s10551-011-0812-2