The Reasons of Ethics in the Current Competitive Context of Banking

Autor: Francesco Minnetti
Rok vydání: 2004
Předmět:
Zdroj: SSRN Electronic Journal.
ISSN: 1556-5068
DOI: 10.2139/ssrn.2087690
Popis: The scenario that characterises the Italian financial system is that of intermediaries who increasingly expand and diversify their business and of increasingly integrated and competitive markets. In this framework, it is necessary to make some observations on the matter and reasons behind ethics, also in light of some recent matters that have shaken the Italian equity markets. As we know, the banks’ asset of reputation is indispensable in order to maintain and develop profitable relationships with the operators, and is based on the capacity to answer their financial needs in the best possible way. Beyond the need for a far-reaching legislation that is consistent with the new scenario, it is also necessary to take a further step forward, setting the goal of creating a corporate culture inspired by ethics. In this way, in addition to ensuring clearer, more complete information about the risks taken by clients when purchasing financial products, it is also necessary to draw up and divulge a code of ethics that can be viewed as the first, important step towards building an ethical company.
Databáze: OpenAIRE