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1. Business and Professional Ethics Journal: Volume > 32 > Issue: 3/4
Randi L. Sims Antecedents and Consequences of Collective Fraud: A Study of the United States Residential Real Estate Market Boom and Bust
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This paper examines the collective fraudulent behaviors taking place during the residential real estate bubble in the United States from 2002 to 2006 and the influence of others’ choices on decision making leading to a herd mentality. The antecedents of collective fraud are discussed in terms of the sociological theory behind human herding and the fraudulent behaviors during the real estate bubble are examined. Using archival witness testimony as a primary basis for analysis, this paper argues that without widespread collective fraud, the bubble may not have developed and the herd mentality may have dissipated without the consequences of financial disaster. The aim of an analysis of this nature is to offer a plausible explanation of some of the preconditions to the event under study.
2. Business and Professional Ethics Journal: Volume > 32 > Issue: 3/4
David Rönnegard, N. Craig Smith Shareholders vs. Stakeholders: How Liberal and Libertarian Political Philosophy Frames the Basic Debate in Business Ethics
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The “basic debate” in business ethics between shareholder theory and stakeholder theory has underlined the field since its inception, with wide ranging normative, descriptive, and instrumental arguments offered on both sides. We maintain that insofar as this is primarily a normative debate, clarity can be brought by elucidating how it is framed by the political philosophies of liberalism and libertarianism.With liberalism represented by John Rawls’s theory of justice and libertarianism represented by the ideas of Milton Friedman and Robert Nozick, and (separately) Edward Freeman, the paper shows that both liberalism and libertarianism can be interpreted to justify shareholder and stakeholder theory respectively. The debate between shareholder theory and stakeholder theory is framed by liberal and libertarian justifications that hinge primarily on whether and to what extent one should have exogenous or endogenous safeguards on corporate behavior. Accordingly, political philosophy turns out to be highly relevant to both business ethics and corporate governance, not because the corporation resembles the state, but because of the potential safeguards placed on the corporation by the state.
3. Business and Professional Ethics Journal: Volume > 32 > Issue: 3/4
Maretno A. Harjoto, Hoje Jo Do Thinkers Lead Doers?: The Causal Relation between CSR and Reputation of Analysts and Brokerage Houses
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This study examines whether reputable analysts and brokerage houses as thinker-driven middlemen led corporations (doers) to engage in CSR by investigating the causal relation between CSR and analysts and brokerage houses’ reputations. While theory of information asymmetry predicts that corporations with higher level of CSR tend to attract more reputable analysts and brokerage houses such that they can disseminate valuable information to outside investors, the social pressure theory expects corporations, which receive coverage from more reputable analysts and brokerage houses, tend to have higher CSR. Our findings suggest that CSR activities per se do not attract experienced analysts and reputable brokerage houses. Instead, we find that corporations which are covered by more experienced analysts and reputable brokerage houses tend to increase their CSR activities, indirectly supporting the social pressure hypothesis based on thinker-led-doer model. In addition, we find that corporations tend to have higher CSR strengths, lower CSR concerns, and increased CSR components of diversity and product when they are covered by more reputable analysts and brokerage houses. We interpret these findings are supportive of the social pressure hypothesis, rather than the information asymmetry hypothesis.
4. Business and Professional Ethics Journal: Volume > 32 > Issue: 3/4
C. Richard Panico Naked Leadership: Lead to Win Hearts and Minds
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Trust in leadership is at all all-time low and the impact on organizational behavior and performance cannot be ignored or denied. As leaders, there is a way for you to reverse this trend. You can decide to establish and sustain trust in the workplace—by getting naked—not in the physical sense, but from the perspective of being authentic and transparent. Earning the trust and loyalty of those you are privileged to lead lays the groundwork for a high performing, motivated, and, engaged culture . . . a definitive competitive advantage. Needless to say, culture is always a reflection of our leadership values and behavior. Through our words, decisions, and behavior, the culture is “sculpted.” In every case, culture is created either by intentional design or by default. If you aspire to make a profound, positive, and sustaining impact on your organization, the hearts and minds of those you lead must be earned. In a world and time where corruption, deceit, and ethical lapses are commonplace, we’ve never had a greater need for trusted, ethical leaders. If you choose to be a trusted leader, you have the opportunity to differentiate yourself and your organization and enjoy a sustainable competitive advantage while making the world a better place.
5. Business and Professional Ethics Journal: Volume > 32 > Issue: 3/4
Joanne B. Ciulla Dressing Up Naked Leadership
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This paper is a commentary on C. Richard Panico’s article “Naked Leadership: Lead to Win Hearts and Minds.” The relationship between academic and practitioner literature on leadership is symbiotic. Both approaches have their limitations. Academic theories may be impractical and practitioner’s ideas are sometimes anecdotal and highly contextual. Yet, as the paper demonstrates, the two literatures can overlap in interesting ways.
6. Business and Professional Ethics Journal: Volume > 32 > Issue: 3/4
Notes on Contributors
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7. Business and Professional Ethics Journal: Volume > 32 > Issue: 3/4
Volume 32 (2013) Index
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