Ethics, Culture and Higher Purpose in Banking: Post-Crisis Governance Developments

International Journal of Central Banking

33 Pages Posted: 20 Apr 2020 Last revised: 18 Sep 2020

See all articles by Anjan V. Thakor

Anjan V. Thakor

Washington University, Saint Louis - John M. Olin School of Business; European Corporate Governance Institute (ECGI)

Date Written: March 14, 2020

Abstract

This paper examines the roles of ethics, culture, and higher purpose in banking, defining these concepts and discussing how they are related. Developments in these areas since the financial crisis are discussed in the context of governance in banking. The theoretical and empirical research on ethics, culture and purpose is reviewed, including a discussion of a framework for diagnosing bank culture. The paper closes with a discussion of the regulatory policy implications of the review.

Keywords: corporate governance, ethics, culture , higher purpose

JEL Classification: G20. G21, G28

Suggested Citation

Thakor, Anjan V., Ethics, Culture and Higher Purpose in Banking: Post-Crisis Governance Developments (March 14, 2020). International Journal of Central Banking, Available at SSRN: https://ssrn.com/abstract=3554121 or http://dx.doi.org/10.2139/ssrn.3554121

Anjan V. Thakor (Contact Author)

Washington University, Saint Louis - John M. Olin School of Business ( email )

One Brookings Drive
Campus Box 1133
St. Louis, MO 63130-4899
United States

European Corporate Governance Institute (ECGI) ( email )

c/o the Royal Academies of Belgium
Rue Ducale 1 Hertogsstraat
1000 Brussels
Belgium

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