Category Archives: Culture

Are Judges Like Umpires? Political Affiliation and Corporate Prosecutions

By | February 27, 2020

Courtesy of Todd A. Gormley, Mahsa Kaviani, and Hosein Maleki The outcomes of corporate prosecutions can devastate even the largest multinational corporations and set long-lasting judicial precedents that affect how businesses operate.  For example, the 2002 guilty verdict against Arthur Andersen (AA), one of the “Big 5” accounting firms with over 28,000 employees, resulted in… Read More »

Restructuring the Personal-Public Gain Relationship: A Solution to the Battle Between Personal and Societal Interests

By | January 17, 2020

Courtesy of Kanksha Mahadevia Ghimire The United Nations Environment Programme issued a bulletin in 2013 highlighting the prevalent existence of corruption (fraud, bribery, abuses of power, etc.) in emissions trading, specifically the European Union’s Emissions Trading Scheme (EU ETS). Corruption undermines the emissions trading mechanism and weakens its chances to act as an effective incentive… Read More »

Ethical Finance as a Systemic Challenge: Risk, Culture, and Structure

By | August 14, 2018

Courtesy of Saule T. Omarova Lately, there has been no shortage of scandals involving fraudulent, predatory, and otherwise ethically unacceptable behavior on the part of large financial institutions. Much of this behavior was also directly implicated in the generation of unsustainable levels of risk in the financial system, which led to the global financial crisis… Read More »