تضاد منافع و انضباط بازار در میان شرکت های خدمات مالی
|کد مقاله||سال انتشار||مقاله انگلیسی||ترجمه فارسی||تعداد کلمات|
|5183||2004||16 صفحه PDF||سفارش دهید||11189 کلمه|
Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)
Journal : European Management Journal, Volume 22, Issue 4, August 2004, Pages 361–376
Very recent reports on Maxwell Communications Corporation and Enron clearly underlined a single important weakness in the behaviour of corporations and financial markets –– the exploitation of conflicts of interest. Although potential conflicts of interest are a fact of life among financial firms, they can only come to flower when competition is not perfect and when markets are not fully transparent. Since underlying market imperfections are systematic even in highly developed financial systems, causing agency problems, it is essential that the problem of conflict-of-interest exploitation is addressed through improved transparency and market discipline if public confidence in financial markets is not to be repeatedly shaken.This paper explores conflicts of interest in wholesale and retail financial markets, and in financial firms. It reviews existing regulatory measures and rating agencies as well as internal controls, and recommends strengthening of measures to prevent conflict exploitation.