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Financial Transaction and Fiduciary Obligation: Ethics, Economics or Commingled Commitment?

Financial transactions and fiduciary obligations are simply intertwined. Fiduciaries are subject to the principle of fidelity. It appears, at times at least, public trust in fiduciary commitments is declining as a result of fiduciaries’ selective reporting of financial events and the existence of co...

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Main Authors: Palliam, Romila, Lee, Caldwell, Ghosh, Dilip K.
Format: Article
Language:English
Published: UUM Press 2012
Subjects:
HG Finance
Online Access:http://repo.uum.edu.my/25003/1/IJBF%209%204%202012%201%2027.pdf
http://repo.uum.edu.my/25003/
http://ijbf.uum.edu.my/index.php/previous-issues/148-the-international-journal-of-banking-and-finance-ijbf-vol-9-no-4-2012
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spelling my.uum.repo.250032018-10-25T00:21:43Z http://repo.uum.edu.my/25003/ Financial Transaction and Fiduciary Obligation: Ethics, Economics or Commingled Commitment? Palliam, Romila Lee, Caldwell Ghosh, Dilip K. HG Finance Financial transactions and fiduciary obligations are simply intertwined. Fiduciaries are subject to the principle of fidelity. It appears, at times at least, public trust in fiduciary commitments is declining as a result of fiduciaries’ selective reporting of financial events and the existence of conflicts when fiduciaries have selfish motives: motives being not always to maximize the trusting party’s value. It is the agency problem. This work attempts to enunciate that commitments and fiduciary obligations emanating from initial financial transactions are not to be violated or ignored as a matter of policy or practice. The questions that arise are: Should a fiduciary be obliged to guarantee a certain outcome for the counter-party, and should a fiduciary be held accountable to a certain type of outcome? We examine what the guidelines are or should be put in place. Initially, under the garb of some socio-religions edicts-cum-dicta, and then under the well-known economic analytics, we make our points and move the view to the forefront. UUM Press 2012 Article PeerReviewed application/pdf en http://repo.uum.edu.my/25003/1/IJBF%209%204%202012%201%2027.pdf Palliam, Romila and Lee, Caldwell and Ghosh, Dilip K. (2012) Financial Transaction and Fiduciary Obligation: Ethics, Economics or Commingled Commitment? International Journal of Banking and Finance (IJBF), 9 (4). pp. 1-27. ISSN 1675-7227 http://ijbf.uum.edu.my/index.php/previous-issues/148-the-international-journal-of-banking-and-finance-ijbf-vol-9-no-4-2012
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Institutionali Repository
url_provider http://repo.uum.edu.my/
language English
topic HG Finance
spellingShingle HG Finance
Palliam, Romila
Lee, Caldwell
Ghosh, Dilip K.
Financial Transaction and Fiduciary Obligation: Ethics, Economics or Commingled Commitment?
description Financial transactions and fiduciary obligations are simply intertwined. Fiduciaries are subject to the principle of fidelity. It appears, at times at least, public trust in fiduciary commitments is declining as a result of fiduciaries’ selective reporting of financial events and the existence of conflicts when fiduciaries have selfish motives: motives being not always to maximize the trusting party’s value. It is the agency problem. This work attempts to enunciate that commitments and fiduciary obligations emanating from initial financial transactions are not to be violated or ignored as a matter of policy or practice. The questions that arise are: Should a fiduciary be obliged to guarantee a certain outcome for the counter-party, and should a fiduciary be held accountable to a certain type of outcome? We examine what the guidelines are or should be put in place. Initially, under the garb of some socio-religions edicts-cum-dicta, and then under the well-known economic analytics, we make our points and move the view to the forefront.
format Article
author Palliam, Romila
Lee, Caldwell
Ghosh, Dilip K.
author_facet Palliam, Romila
Lee, Caldwell
Ghosh, Dilip K.
author_sort Palliam, Romila
title Financial Transaction and Fiduciary Obligation: Ethics, Economics or Commingled Commitment?
title_short Financial Transaction and Fiduciary Obligation: Ethics, Economics or Commingled Commitment?
title_full Financial Transaction and Fiduciary Obligation: Ethics, Economics or Commingled Commitment?
title_fullStr Financial Transaction and Fiduciary Obligation: Ethics, Economics or Commingled Commitment?
title_full_unstemmed Financial Transaction and Fiduciary Obligation: Ethics, Economics or Commingled Commitment?
title_sort financial transaction and fiduciary obligation: ethics, economics or commingled commitment?
publisher UUM Press
publishDate 2012
url http://repo.uum.edu.my/25003/1/IJBF%209%204%202012%201%2027.pdf
http://repo.uum.edu.my/25003/
http://ijbf.uum.edu.my/index.php/previous-issues/148-the-international-journal-of-banking-and-finance-ijbf-vol-9-no-4-2012
_version_ 1644284198846988288
score 13.211869

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