Palgrave Macmillan Studies in Banking and Financial Institutions

Ethics in Banking

The Role of Moral Values and Judgements in Finance

Authors: Villa, Jes

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  • ISBN 978-1-137-34028-3
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About this book

The solution to the uninhibited lending that was commonplace before the financial crisis has been to introduce tighter regulation to ensure robustness within banks. However, this solution has overlooked the underlying problem of ethical failure in the industry. In the wake of numerous bank collapses, many survivors continue in unprincipled conduct because ethical virtues have not been instilled. This book investigates the ethical basis of banking practice. It explores the conflict between the interests of banks and their customers, and how this conflict plays out in relation to the lending policies and fee structures of banks. Where such lending policies have a significant effect on banks, their customers and a range of stakeholders, the author investigates the views of leading bankers on their lending practices. The author then goes on to debate the events of the global financial crisis from a moral perspective, and argues that ethical failure triggered the American sub-prime calamities which have devastated homeowners and the global economy. The book argues that American banks and regulators both operated on the erroneous supposition that the quest after extreme profits would be restrained by free market forces. Where banks have a central role and importance in all commerce and hence in all societies, the author concludes by revealing a set of virtues that are necessary for banks to espouse moral conduct. He suggests that these virtues can be embedded through leadership and cultural change, with the aim of developing an account of the virtues appropriate to bankers and banking.

About the authors

Jes Villa has held various professional positions in investment banking in New York, Chicago, Asia, and Australia, and rose to hold Chief Executive and Managing Director positions in various firms specialising in corporate finance and private equity. He received an MBA from Wharton School, University of Pennsylvania, USA. He obtained a PhD in Philosophy and Ethics from University of Tasmania, Australia / Ludwig-Maximilians-Universität, University of Munich, Germany. He now lectures at Weihenstephan-Triesdorf University of Applied Sciences in Munich, Germany.

Table of contents (8 chapters)

Table of contents (8 chapters)

Buy this book

eBook 101,14 €
price for Spain (gross)
  • ISBN 978-1-137-34028-3
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover 124,79 €
price for Spain (gross)
  • ISBN 978-1-137-34340-6
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
  • The final prices may differ from the prices shown due to specifics of VAT rules

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Bibliographic Information

Bibliographic Information
Book Title
Ethics in Banking
Book Subtitle
The Role of Moral Values and Judgements in Finance
Authors
Series Title
Palgrave Macmillan Studies in Banking and Financial Institutions
Copyright
2015
Publisher
Palgrave Macmillan UK
Copyright Holder
Jes Villa
eBook ISBN
978-1-137-34028-3
DOI
10.1057/9781137340283
Hardcover ISBN
978-1-137-34340-6
Series ISSN
2523-336X
Edition Number
1
Number of Pages
XI, 212
Topics