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| Author: | Fassin, Y. Gosselin, D. |
| Title: | The collapse of a European bank in the financial crisis: an analysis from stakeholder and ethical perspectives |
| Journal: | Journal of Business Ethics
2011 : AUG II, VOL. 102:2, p. 169-191 |
| Index terms: | Europe financial crises banking case studies stakeholders business ethics chief executive officers corporate responsibility social responsibility |
| Freeterms: | CSR acquisitions |
| Language: | eng |
| Abstract: | Due to global financial crisis, the leading Benelux financial group called the Fortis group collapsed. This article aims at using the case study of Fortis's fall as a basis for reflective considerations on the financial crisis, from stakeholder and ethical perspectives. A selected number of key events of the crisis' history at Fortis are herein analyzed from different ethical frameworks with special attention given to fairness of communication, shareholder activism and interest conflicts of CEO's mergers opportunities. A confrontation btw. the CSR policy and the reality raises fundamental questions why the powerful CSR guidelines and ethical principles did not help in the risk assessment. |
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