IDEAS home Printed from https://ideas.repec.org/p/hhb/hastba/2004_012.html
   My bibliography  Save this paper

Financial Mentality beyond Good and Evil

Author

Listed:
  • Norberg, Peter

    (Dept. of Business Administration, Stockholm School of Economics)

Abstract

The tacit morality plays a vital part of a culture. A particular morality is caused by the fact that particular social forces are needed to keep financial markets together. The mentality of financial markets has causes in the particular working conditions. A particular set of values of actors is likely to make financial markets work. Which morality is formed? Abstract greed and the invisible hand play a part. Digitalisation promotes an amoral mentality, irresponsibility and estrangement. The superman of Nietzsche perceives that acts beyond good and evil disembed financial institutions. Brokers and traders often have training in neo-classical economics, promoting certain personal convictions. Brokers neglect dimensions of ethics beyond explicit rules.

Suggested Citation

  • Norberg, Peter, 2004. "Financial Mentality beyond Good and Evil," SSE/EFI Working Paper Series in Business Administration 2004:12, Stockholm School of Economics, revised 31 Oct 2005.
    • Handle: RePEc:hhb:hastba:2004_012
    as

    Download full text from publisher

    File URL: http://swoba.hhs.se/hastba/papers/hastba2004_012.pdf
    File Function: Complete Rendering
    Download Restriction: no
    File URL: http://swoba.hhs.se/hastba/papers/hastba2004_012.table1.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Keith Weigelt & Colin Camerer, 1988. "Reputation and corporate strategy: A review of recent theory and applications," Strategic Management Journal, Wiley Blackwell, vol. 9(5), pages 443-454, September.
    2. Fama, Eugene F, 1970. "Efficient Capital Markets: A Review of Theory and Empirical Work," Journal of Finance, American Finance Association, vol. 25(2), pages 383-417, May.
    3. Kracher, Beverly & Corritore, Cynthia L., 2004. "Is There a Special E-Commerce Ethics?," Business Ethics Quarterly, Cambridge University Press, vol. 14(1), pages 71-94, January.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sascha Raithel & Manfred Schwaiger, 2015. "The effects of corporate reputation perceptions of the general public on shareholder value," Strategic Management Journal, Wiley Blackwell, vol. 36(6), pages 945-956, June.
    2. Brower, Jacob & Kashmiri, Saim & Mahajan, Vijay, 2017. "Signaling virtue: Does firm corporate social performance trajectory moderate the social performance–financial performance relationship?," Journal of Business Research, Elsevier, vol. 81(C), pages 86-95.
    3. Anna Blajer-Gołębiewska, 2021. "Individual corporate reputation and perception of collective corporate reputation regarding stock market investments," PLOS ONE, Public Library of Science, vol. 16(9), pages 1-21, September.
    4. David M. Ritzwoller & Joseph P. Romano, 2019. "Uncertainty in the Hot Hand Fallacy: Detecting Streaky Alternatives to Random Bernoulli Sequences," Papers 1908.01406, arXiv.org, revised Apr 2021.
    5. Shazia Ghani, 2011. "A re-visit to Minsky after 2007 financial meltdown," Post-Print halshs-01027435, HAL.
    6. Steininger, Lea & Hesse, Casimir, 2024. "Buying into new ideas: The ECB’s evolving justification of unlimited liquidity," Department of Economics Working Paper Series 357, WU Vienna University of Economics and Business.
    7. Christiane Goodfellow & Dirk Schiereck & Steffen Wippler, 2013. "Are behavioural finance equity funds a superior investment? A note on fund performance and market efficiency," Journal of Asset Management, Palgrave Macmillan, vol. 14(2), pages 111-119, April.
    8. Cagli, Efe Caglar & Taskin, Dilvin & Evrim Mandaci, Pınar, 2019. "The short- and long-run efficiency of energy, precious metals, and base metals markets: Evidence from the exponential smooth transition autoregressive models," Energy Economics, Elsevier, vol. 84(C).
    9. Andrew Weinbach & Rodney J. Paul, 2009. "National television coverage and the behavioural bias of bettors: the American college football totals market," International Gambling Studies, Taylor & Francis Journals, vol. 9(1), pages 55-66, April.
    10. Plantinga, Andrew J. & Provencher, Bill, 2001. "Internal Consistency In Models Of Optimal Resource Use Under Uncertainty," 2001 Annual meeting, August 5-8, Chicago, IL 20712, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    11. Growitsch Christian & Nepal Rabindra & Stronzik Marcus, 2015. "Price Convergence and Information Efficiency in German Natural Gas Markets," German Economic Review, De Gruyter, vol. 16(1), pages 87-103, February.
    12. Oxelheim, Lars & Rafferty, Michael, 2005. "On the static efficiency of secondary bond markets," Journal of Multinational Financial Management, Elsevier, vol. 15(2), pages 117-135, April.
    13. Baoqiang Zhan & Shu Zhang & Helen S. Du & Xiaoguang Yang, 2022. "Exploring Statistical Arbitrage Opportunities Using Machine Learning Strategy," Computational Economics, Springer;Society for Computational Economics, vol. 60(3), pages 861-882, October.
    14. Shi, Huai-Long & Zhou, Wei-Xing, 2022. "Factor volatility spillover and its implications on factor premia," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 80(C).
    15. Gaio, Luiz Eduardo & Stefanelli, Nelson Oliveira & Pimenta, Tabajara & Bonacim, Carlos Alberto Grespan & Gatsios, Rafael Confetti, 2022. "The impact of the Russia-Ukraine conflict on market efficiency: Evidence for the developed stock market," Finance Research Letters, Elsevier, vol. 50(C).
    16. Anastasios Evgenidis & Stephanos Papadamou, 2021. "The impact of unconventional monetary policy in the euro area. Structural and scenario analysis from a Bayesian VAR," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(4), pages 5684-5703, October.
    17. Nuruddeen Usman & Kodili Nwanneka & Nduka, 2023. "Announcement Effect of COVID-19 on Cryptocurrencies," Asian Economics Letters, Asia-Pacific Applied Economics Association, vol. 3(3), pages 1-4.
    18. Olayemi O Adu & Blessing O Idakwoji, 2024. "Commodity Market Efficiency - New Evidence From the Russia-Ukraine War," Energy RESEARCH LETTERS, Asia-Pacific Applied Economics Association, vol. 5(2), pages 1-6.
    19. Tihana Škrinjarić, 2019. "Time Varying Spillovers between the Online Search Volume and Stock Returns: Case of CESEE Markets," IJFS, MDPI, vol. 7(4), pages 1-30, October.
    20. Carol Alexander & Anca Dimitriu, 2003. "Equity Indexing: Conitegration and Stock Price Dispersion: A Regime Switiching Approach to market Efficiency," ICMA Centre Discussion Papers in Finance icma-dp2003-02, Henley Business School, University of Reading.

    More about this item

    Keywords

    abstract greed; amorality; disembeddedness; financial markets; the invisible hand;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hhb:hastba:2004_012. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Helena Lundin (email available below). General contact details of provider: https://edirc.repec.org/data/erhhsse.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.