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2008
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Financial intermediation Interests, Conflict of Conflicts of interest Conflict of interests (Public office) Conflict of interests (Agency) Conflict of interestCiter ce document
G. Palazzo et al., « Conflicts of Interest in Financial Intermediation », Serveur académique Lausannois, ID : 10.1007/s10551-007-9488-z
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Résumé
The last years have seen a surge of scandals in financial intermediation. This article argues that the agency structure inherent to most forms of financial intermediation gives rise to conflicts of interest. Though this does not excuse scandalous behavior it points out market imperfections. There are four types of conflicts of interest: personal-individual, personal-organizational, impersonal-individual, and finally, impersonal-organizational conflicts. Analyzing recent scandals we find that all four types of conflicts of interest prevail in financial intermediation.