Roman Tomasic
The Role of Trust in Maintaining the Resilience of Financial Markets
Tomasic, Roman; Akinbami, Folarin
Authors
Folarin Akinbami
Abstract
The Global Financial Crisis (GFC) threatened to bring world financial markets to a halt. It is now coming to light that in the run-up to, and at the height of, the GFC, investment banks and other participants in the financial markets acted unethically as well as imprudently. This article takes a closer look at this unethical behaviour and the way in which it constitutes a failure of trust. The article defines trust and outlines why it is important in the regulation of financial markets. It then looks at three examples of breakdowns or failures of trust in the run-up to the financial crisis. The article concludes by arguing that trust is important in commercial relationships at both the intra-firm level (the relations between the different constituents of the firm) and the inter-firm level (the relations between the firm and other firms).
Citation
Tomasic, R., & Akinbami, F. (2011). The Role of Trust in Maintaining the Resilience of Financial Markets. Journal of Corporate Law Studies, 11(2), 369-394. https://doi.org/10.5235/147359711798110628
Journal Article Type | Article |
---|---|
Publication Date | Oct 1, 2011 |
Deposit Date | Oct 18, 2011 |
Publicly Available Date | Mar 15, 2012 |
Journal | Journal of Corporate Law Studies |
Print ISSN | 1473-5970 |
Electronic ISSN | 1757-8426 |
Publisher | Taylor and Francis Group |
Peer Reviewed | Peer Reviewed |
Volume | 11 |
Issue | 2 |
Pages | 369-394 |
DOI | https://doi.org/10.5235/147359711798110628 |
Keywords | Trust, Global Financial Crisis, Progressive corporate law, Financial innovation, Moral hazard, Too big to fail, Creative accounting. |
Public URL | https://durham-repository.worktribe.com/output/1504466 |
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