Ethics in Finance

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Kara Tan Bhala is the President and Founder of Seven Pillars Institute for Global Finance and Ethics, USA, the world's only independent think tank for research, education, and promotion of financial ethics. She is an Honorary Research Fellow at Queen Mary University of London, UK. Dr. Tan Bhala has a rare combination of professional training and extensive experience in both global finance and moral philosophy. She has nearly 30 years of experience in global finance, much of which was gained through working on Wall Street. She has been a sell-side equity analyst, a sell-side equity sales person, a buy-side equity analyst, a portfolio manager, and a lecturer in finance. For 18 years she ran her own international financial markets consulting firm. Dr. Tan Bhala has five degrees across three disciplines: a Bachelors (City, University of London, UK) and Masters (Oxford University, UK) in Business, a Masters in Liberal Studies (New York University, USA), and a Masters and PhD in Philosophy (University of Kansas, USA). She has lived and worked in London, Oxford, Singapore, Hong Kong, New York, Washington DC., and currently resides in Kansas City. She is a member of the Council on Foreign Relations, USA, and the Royal Society for Asian Affairs, UK.

IntroductionChapter 1 Plantation Adventure Case Study1.1 Chapter 1 The Story: A Reverie of Somerset Maugham1.2 Chapter 1 Ethics Issue: Honesty in Equity Research1.3 Chapter 1 Ethics Analysis: Honesty and Integrity are Virtues1.4 Chapter 1 Right Action: Write it as You See it

Chapter 2 Bangkok Misadventure Case Study
2.1 Chapter 2 The Story: A Sordid Request - to Do or Not to Do?
2.2 Chapter 2 Ethics Issue: Friedman and Free Markets
2.3 Chapter 2 Ethics Analysis: Free Markets, Market Failures and Values
2.4 Chapter 2 Right Action: Values in Finance

Chapter 3 Hong Kong Hike Case Study
3.1 Chapter 3 The Story: The Pressure to Perform
3.2 Chapter 3 Ethics Issue: Cheating Our Way Up
3.3 Chapter 3 Ethics Analysis: What Would Kant Say?
3.4 Chapter 3 Right Action: Keep Calm and Carry on Ethically

Chapter 4 Mutual Fund Fun Case Study
4.1 Chapter 4 The Story: Quick Money at Others' Expense
4.2 Chapter 4 Ethics Issues: Duty and Fairness
4.3 Chapter 4 Ethics Analysis: What Would Socrates Do?
4.4 Chapter 4 Right Action: Engage in Transparency and Fairness    

Chapter 5 High Finance Gender Inequity Case Study
5.1 Chapter 5 The Story: An Inner Sanctum for Men Only
5.2 Chapter 5 Ethics Issue: Gender Exclusion, Gender Discrimination
5.3 Chapter 5 Ethics Analysis: All Theories Say Gender Discrimination is Wrong
5.4 Chapter 5 Right Action: Stand Up for Women's Rights

Chapter 6 Hedge Fund Edge Case Study
6.1 Chapter 6 The Story: Pushing the Edge to Get an Edge
6.2 Chapter 6 Ethics Issue: Insider Information
6.3 Chapter 6 Ethics Analysis: Why Insider Trading is Unethical
6.4 Chapter 6 Right Action: Don't Be Seduced by the Money

Chapter 7 Hedge Fund Harassment Case Study
7.1 Chapter 7 The Story: Hedge Fund Boss Behaving Badly
7.2 Chapter 7 Ethics Issue: Maltreatment of Employees
7.3 Chapter 7 Ethics Analysis: It's About Human Dignity
7.4 Chapter 7 Right Action: Your Money or Your Life

 Chapter 8 Whistleblowing Consultant Case Study

8.1 Chapter 8 The Story: Whistleblowing or No Good Deed Goes Unpunished
8.2 Chapter 8 Ethics Issue: Whistleblowing
8.3 Chapter 8 Ethics Analysis: To Whistleblow or Not, that is the Question
8.4 Chapter 8 Right Action: Consider Options Rationally, Then if you Can or Must, Whistleblow

Chapter 9 Finance Academy Gender Inequity Case Study
9.1 Chapter 9 The Story: Gender Discrimination in the Finance Academy
9.2 Chapter 9 Ethics Issue: Systemic Gender Discrimination, Implicit Bias
9.3 Chapter 9 Ethics Analysis: Fair Treatment and Rights
9.4 Chapter 9 Right Action: Speak Up and Garner Support

Chapter 10 Finance Academy Ideological Bias Case Study
10.1 Chapter 10 The Story: Fear of Allowing Different Perspectives
10.2 Chapter 10 Ethics Issue: Exclusion Based on Ideology
10.3 Chapter 10 Ethics Analysis: Making Finance Theories Better
10.4 Chapter 10 Right Action: Allow Other Ideas, Improve Finance Theory

"It's up to every one of us to bring about the change we want to see, and reading this book is a good way to start." (Robin Powell, moneymarketing.co.uk, December 2, 2021)

“It’s up to every one of us to bring about the change we want to see, and reading this book is a good way to start.” (Robin Powell, moneymarketing.co.uk, December 2, 2021)