Ethics in finance : case studies from a woman's life on Wall Street / Kara Tan Bhala.
Tan Bhala, Kara, author.
2023
HG103 .T36 2023
Available Online

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Title Ethics in finance : case studies from a woman's life on Wall Street / Kara Tan Bhala.
Author Tan Bhala, Kara, author.
Edition Second edition.
ISBN 9783031344015 (electronic bk.)
3031344014 (electronic bk.)
3031344006
9783031344008
DOI https://doi.org/10.1007/978-3-031-34401-5
Published Cham : Palgrave Macmillan, [2023]
Language English
Description 1 online resource
Other Standard Identifiers 10.1007/978-3-031-34401-5 doi
Call Number HG103 .T36 2023
Dewey Decimal Classification 174.4
Summary Ethics in Finance earned five major awards: winner of the Business Book Awards (UK) 2022, and the Goody Business Book Awards 2022; silver medal winner, Global Book Awards 2022; bronze medal winner, Axiom Business Book Awards 2022; and finalist, International Book Awards (US) 2022. The book comprises multiple finance and ethics case studies. The second edition adds video summaries to each chapter. The purpose of the book is twofold. First, the case studies teach readers how to evaluate and determine resolutions to ethical issues in finance. Second, the reader enjoys a journey with the author, a woman, through her years working in finance. The case studies focus on ethical issues in finance which the author encountered over nearly a 30-year career in the industry. There are 10 cases extracted from different sectors of finance. This broad range is a consequence of the authors experience from almost all sides of the business: the buy side, the sell side, equity research in Asia, equity sales, mutual funds, hedge funds, the finance academy, and consulting. Each case study has an engaging narrative describing the background, transactions, players, and ethical issues. The ethical issue is analyzed and resolved using appropriate theories of moral philosophy. Descriptions and analyses are rigorous yet comprehensible, approachable, and entertaining. Apart from ethics determinations, the material in the book describes and explains a variety of specific, and even complex, financial transactions. Each case explains the roles of various players involved. In this way, readers learn about the work involved in different finance positions, from investment bankers and equity traders, to portfolio managers and equity analysts. Readers also get an understanding of major financial transactions and activities such as IPOs, secondary offerings, equity trading, and equity valuations. The book will appeal to the general reader, finance practitioners, college and high school students, and lecturers who can use it to supplement courses in finance or business ethics. Kara Tan Bhala is President and Founder of Seven Pillars Institute for Global Finance and Ethics (USA), the worlds only independent think tank for research, education, and promotion of financial ethics. She was an Honorary Research Fellow at Queen Mary University of London, and is a Jury Member for the Ethics and Trust in Finance Global Prize (Switzerland) and US Ambassador for the Transparency Task Force (UK). She has nearly 30 years of global finance experience through working on Wall Street. Dr. Tan Bhala has five degrees across three disciplines: a Bachelors (City, University of London) and Masters in Business (Oxford University), Masters in Liberal Studies (New York University), and Masters and PhD in Philosophy (University of Kansas). She has lived in the worlds major money centres, and currently resides in Kansas City. She is a member of Americas Council on Foreign Relations and Englands Royal Society for Asian Affairs.
Note Includes index.
Access Note Access limited to authorized users.
Source of Description Description based on online resource; title from digital title page (viewed on July 13, 2023).
Available in Other Form Print version: 9783031344008
Ethics in finance.
Linked Resources Online Access
Record Appears in Online Resources > Ebooks
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Intro
Praise for Ethics in Finance
About this Book
About the Author
Acknowledgments
Contents
Preface to Second Edition
Introduction
1 Plantation Adventure Case Study
The Story: A Reverie of Somerset Maugham1
Ethics Issue: Honesty in Equity Research
Conflict of Interest
Ethics Analysis: Honesty and Integrity Are Virtues
Aristotle
Virtue Ethics
Right Action: Write It as You See It
Notes
2 Bangkok Misadventure Case Study
The Story: A Sordid Request-To Do or Not to Do?
Ethics Issue: Friedman and Free Markets

The Friedman Argument: There's No Need for Ethics
The Free Market Argument
The Career Suicide Argument
Ethics Analysis: Free Markets, Market Failures, and Values
Right Action: Values in Finance
Notes
3 Hong Kong Hike Case Study
The Story: The Pressure to Perform
Ethics Issue: Cheating Our Way Up
Ethics Analysis: What Would Kant Say?
Right Action: Stay Calm and Carry on Ethically
Notes
4 Mutual Fund Fun Case Study
The Story: Quick Money at Others' Expense
Trading in and Out in 24 Hours
A Drag on Performance
Ethics Issues: Duty and Fairness

Ethics Analysis: What Would Socrates Do?
Fiduciary Duty
Justice as Fair Treatment
Right Action: Engage in Transparency and Fairness
Notes
5 High Finance Gender Inequity Case Study
The Story: An Inner Sanctum for Men Only
Ethics Issues: Gender Exclusion, Gender Discrimination
Ethics Analysis: All Theories Say Gender Discrimination Is Wrong
Justice as Fairness
Rights and Kantian Ethics
Natural Law Theory
Utilitarianism
Feminist Ethics
Right Action: Stand Up for Women's Rights
Notes
6 Hedge Fund Edge Case Study

The Story: Pushing the Edge to Get an Edge
Ethics Issue: Insider Information
Ethics Analysis: Why Insider Trading Is Unethical
Fairness
Fiduciary Duty
Utilitarian Assessment
Positive Outcomes
Negative Outcomes: Applying Behavioral Economics to Insider Trading
Right Action: Don't Be Seduced by the Money
Notes
7 Hedge Fund Harassment Case Study
The Story: Hedge Fund Boss Behaving Badly
Verbal Abuse
Tasks Unrelated to Work
A Hostile Work Environment
Ethics Issue: Maltreatment of Employees
Ethics Analysis: It's About Human Dignity

Right Action: Your Money or Your Life
Individuals
Organizations
Notes
8 Whistleblowing Consultant Case Study
The Story: Whistleblowing or No Good Deed Goes Unpunished
Ethics Issue: Whistleblowing
Ethics Analysis: To Whistleblow or Not, That Is the Question
Right Action: Consider Options Rationally, Then If You Can or Must, Whistleblow
Notes
9 Finance Academy Gender Inequity Case Study
The Story: Gender Discrimination in the Finance Academy
The Meeting
My Complaint
Ethics Issue: Systemic Gender Discrimination, Implicit Bias

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