Description : This collection explores the subject of conflicts of interest. It investigates how to manage conflicts of interest, how they can affect well-meaning professionals, and how they can limit the effectiveness of corporate boards, undermine professional ethics, and corrupt expert opinion. Legal and policy responses are considered, some of which (e.g. disclosure) are shown to backfire and even fail. The results offer a sobering prognosis for professional ethics and for anyone who relies on professionals who have conflicts of interest. The contributors are leading authorities on the subject in the fields of law, medicine, management, public policy, and psychology. The nuances of the problems posed by conflicts of interest will be highlighted for readers in an effort to demonstrate the many ways that structuring incentives can affect decision making and organizations' financial well-being.
Description : The fifth report in this series focuses on conflicts of interest that arise when a firm combines multiple lines of business, creating multiple interests. Conflicts between research and underwriting in investment banking and between auditing and consulting in accounting firms are investigated, as are the problems that arise from rating agencies providing consulting services and from universal banks combining commercial and investment banking.In the recent stock market collapse, confidence in the financial industry was shaken by numerous scandals. Beginning with Enron in 2001, scandals brought about the demise of prominent financial figures, damaged the reputation of premiere firms and destroyed the global accounting giant Arthur Andersen. Central to this crisis was the exploitation of conflicts of interest. Research analysts at investment banks were found to be distorting information at the behest of underwriting departments eager to promote new issues. Auditors appeared to sanction misleading accounting in order to gain business for the consulting side of their firms. Policy response in the United States was quick. Large fines were levied and regulators compelled the separation of financial security function, constraining financial conglomerates.But are these new regulations and safeguards adequate protection? What costs do they impose on the industry? This fifth title in the ICMP/CEPR series of Geneva Reports on the World Economy examines the problem of conflicts of interest in the financial system. Conflicts of interest lead to a decrease in information that makes it harder for the system to provide savers wit the accurate, essential information that induces them to provide credit to borrowers. This study focuses on conflicts of interest that arise when a firm combines multiple lines of business, creating multiple interests. Conflicts between research and underwriting in investment banking and between auditing and consulting in accounting firms are investigated, as are the problems that arise from rating agencies providing consulting services and from universal banks combining commercial and investment banking.Determining the appropriate remedy for a conflict is a challenge because the elimination of conflicts may also eliminate benefits from economies of scope. This study examines five generic remedies: market discipline, regulation for increased transparency, supervisory oversight, separation of financial activities by function, and socialization of the collection and distribution of information. The authors apply this framework to assess critically the Sarbanes-Oxley Act and the Global Settlement between American regulators and investment banks.
Description : The notion of conflict of interest is more relevant today than ever. Ethical sensitivities about the relationship between professionals and those they serve is a source of constant debate. This book sets a new standard for work on this perennial topic, collecting a set of practical essays by top applied ethicists on a wide variety of professions and occupations. Some conflicts of interest arise because a profession takes on many roles while serving one goal; others take on one role but serve multiple goals. Some conflicts are internal to the profession; others (such as family or business connections) are external. The essays in this volume address such diverse conflicts in a comprehensive way, in an attempt to make useful comparisons across professions. Containing fifteen original chapters by noted scholars of applied ethics, this volume systematically explores professions including law, medicine, journalism, engineering, financial services, anthropology, film, physical therapy, and literary criticism. An introductory chapter surveys and contextualizes work on the topic, while the concluding chapter offers us a new way to compare conflicts of interest across professions and occupations. Conflict of Interest in the Professions will be of great practical interest to scholars of applied ethics and law, as well as to professionals in the fields discussed
Description : Conflicts of interest arise naturally in all walks of life, particularly in business life. As general and indeed inevitable phenomena, conflicts of interest should not be prohibited but properly managed. This book presents indepth analysis of such management in three areas of corporate governance where the conflict-of-interest problems are particularly acute: executive compensation, financial analysis, and asset management. ""Conflicts of Interest"" presents the results of a two-year-long research project bringing together academics and practitioners in both law and finance from Europe and the.
Description : This guide provides directors with a concise, straightforward aid to director's thinking: practical assistance for a practical job. This publication is intended to help directors identify the boundaries between legal conflicts and ethical ones, to know what questions to ask, and to recognise problems in the making.
Description : Conflict of interest allegations have become a prominent part of the landscape of political and public sector ethics in Australia and overseas. The arena of policing has not been immune from this problem and this book is based on unique and unfettered access to ten years of internal investigation files held by Victoria Police. Through detailed analysis of actual complaint cases it gives the reader a comprehensive map by which to chart the particular kinds of interests involved, the nature of conflicts with official police duties, and the particular contexts from which conflicts of interest emerge. The book examines conflicts of interest across the private and public realm of the everyday lives of police officers. The author outlines how the problem of conflict of interest is an important aspect of police ethics, arguing that recognition of, and accountability for, conflict of interest may be a significant element in preventing upstream police misconduct and corruption. Conflict of Interest in Policing seeks to provide a conceptual and practical understanding of how integrity and trust must be integrated into the profession of policing through processes of active responsibility, rather than more traditional passive obedience to prescriptive rules.
Description : As in all periods of swift economic development and political upheaval, our era of globalization has brought corruption and conflicts of interest into the spotlight. This comprehensive study highlights the difficulties of devising global legislative an
Description : An interdisciplinary and international study addressing conflict of interest in different spheres and at different levels of governance.
Description : In the isolated Nebraska Territories, Craig Conor s world is shattered by the murder of his parents and the disappearance of his younger brother. The search for his brother and the truth about his parents will eventually place him in greater danger as he finds himself face to face with murderous outlaws and he is caught in the middle of the first great conflict between north and south. His only hope may lie in a Texas Ranger searching for justice himself.