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The financial crisis of 2007-2009 was one in which many financial services firms participated in shortsighted and unethical behavior. About $11 trillion in household wealth were lost, 26 million Americans lost their jobs, and 4.5 million could not afford their mortgages These events and statistics show the prevalent lack of ethical leadership in the financial services sector. The problem addressed in this study is the lack of leadership ethics and its relationship to organizational success within the financial services industry. The purpose of this quantitative correlational study was to determine the relationship and test the predictive strength between corporate supervisors' use of key ethical variables and organizational success. Responsibility, respect, fairness, and honesty were the predictor variables and organizational success was the criterion variable. One hundred and thirty six corporate supervisors from financial services sector in New York and Washington, D.C completed the survey questionnaires. The results of the study indicated that the four predictor variables have a significant and positive relationship with the criterion variable. The strongest relationship among the predictors and criterion variables were found between corporate supervisors' use of respect (r = 0.676, p< .001), corporate supervisors' use of honesty (r = 0.653, P |
