Do wealth managers understand codes of conduct and their ethical dilemmas?: lessons from an online survey
How do wealth managers understand and comply with the social norms embedded in banks' codes of conduct (CoC), and how do they cope with ethical dilemmas? Do they have a tendency after the global financial crisis to prioritize banks’ financial security over clients' interests? To answer the...
| Κύριοι συγγραφείς: | ; |
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| Τύπος μέσου: | Ηλεκτρονική πηγή Άρθρο |
| Γλώσσα: | Αγγλικά |
| Έλεγχος διαθεσιμότητας: | HBZ Gateway |
| Journals Online & Print: | Φόρτωση...
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| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Έκδοση: |
Springer
2024
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| Στο/Στη: |
Journal of business ethics
Έτος: 2024, Τόμος: 189, Τεύχος: 3, Σελίδες: 553-572 |
| Άλλες λέξεις-κλειδιά: | B
Honesty
B Client interest B ethical dilemmas B Εταιρική διακυβέρνηση B G41 B G21 B Aufsatz in Zeitschrift B G34 B Financial security B Social norms B code of conduct B Online survey |
| Διαθέσιμο Online: |
Volltext (kostenfrei) Volltext (kostenfrei) |
| Σύνοψη: | How do wealth managers understand and comply with the social norms embedded in banks' codes of conduct (CoC), and how do they cope with ethical dilemmas? Do they have a tendency after the global financial crisis to prioritize banks’ financial security over clients' interests? To answer these and related questions, we conduct a nonincentivized online survey with wealth management employees of the Swiss legal entity of a large multinational bank. We propose a method to estimate the comprehension and the level of expected adherence to the CoC principles that we test with our sample. We further show that framing questions under the label of "Financial Security" increased response accuracy and that employees' honesty helped guide their decision-making toward integrity in ethical dilemmas. Thus, in addition to validating a method for testing the level of CoC comprehension and the expected adherence to its principles, our study is among the first to show that in the wealth management business, honesty and social injunctive norms defined in the bank’s CoC reinforce one another. |
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| ISSN: | 1573-0697 |
| Περιλαμβάνει: | Enthalten in: Journal of business ethics
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| Persistent identifiers: | DOI: 10.1007/s10551-023-05372-6 |