Ethics in Finance

Abstract

The subject of finance ethics can be conveniently divided into four parts: finance theory, financial markets, financial services, and financial management. Finance ethics as an academic field is concerned with the moral issues that arise in each of these four areas and with the moral norms that apply to the activities that take place in them. Much of the activity of finance takes place in markets, in which currencies, commodities, and financial instruments, such as stock, bonds, futures, options, swaps, and derivatives, are traded. The fundamental ethical requirement of financial markets is that they be ‘fair’. The most commonly adopted means for ensuring fairness in markets is government regulation, although a significant degree of industry- and firm-level self-regulation is also employed in finance. The participants in financial markets are most commonly individuals and institutional investors, such as banks, insurance companies, mutual funds, and pension funds. Controlled Vocabulary Terms Finance ethics; Financial management applications; Financial market; financial services

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