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The collapse of a European bank in the financial crisis: an analysis from stakeholder and ethical perspectives

Yves Fassin UGent and Derrick Gosselin UGent (2011) JOURNAL OF BUSINESS ETHICS. 102(2). p.169-191
abstract
Fortis, the leading Benelux financial group, had been a success story of successive mergers of bank and insurance companies, with leadership in corporate social responsibility (CSR). One year after the acquisition of the major Dutch financial conglomerate ABN AMRO, the global financial crisis caused the collapse of the Fortis group. The purpose of this article is to use the case study of Fortis's recent fall as a basis for reflective considerations on the financial crisis, from stakeholder and ethical perspectives. A selected number of key events of the history of the dramatic crisis at Fortis will be analysed from different ethical frameworks. Special consideration will be given to fairness of communication, shareholder activism and conflicts of interests of CEO's mergers opportunities. A confrontation between the CSR policy and the reality raises the fundamental questions why the powerful CSR guidelines and ethical principles did not help in the assessment of the risks.
Please use this url to cite or link to this publication:
author
organization
year
type
journalArticle (original)
publication status
published
subject
keyword
shareholder activism, collapse, CEO, acquisition, TAKEOVERS, CORPORATE SOCIAL PERFORMANCE, BUSINESS, TOP, COMPENSATION, TRANSACTIONS, COOPERATION, OWNERSHIP, MANAGEMENT, financial crisis, bank, business ethics, stakeholder, CSR, PREMIUMS
journal title
JOURNAL OF BUSINESS ETHICS
J. Bus. Ethics
volume
102
issue
2
pages
169 - 191
Web of Science type
Article
Web of Science id
000293746600001
JCR category
ETHICS
JCR impact factor
0.963 (2011)
JCR rank
14/47 (2011)
JCR quartile
2 (2011)
ISSN
0167-4544
DOI
10.1007/s10551-011-0812-2
language
English
UGent publication?
yes
classification
A1
copyright statement
I have transferred the copyright for this publication to the publisher
id
1203485
handle
http://hdl.handle.net/1854/LU-1203485
date created
2011-04-06 13:29:06
date last changed
2012-07-30 09:17:51
@article{1203485,
  abstract     = {Fortis, the leading Benelux financial group, had been a success story of successive mergers of bank and insurance companies, with leadership in corporate social responsibility (CSR). One year after the acquisition of the major Dutch financial conglomerate ABN AMRO, the global financial crisis caused the collapse of the Fortis group. The purpose of this article is to use the case study of Fortis's recent fall as a basis for reflective considerations on the financial crisis, from stakeholder and ethical perspectives. A selected number of key events of the history of the dramatic crisis at Fortis will be analysed from different ethical frameworks. Special consideration will be given to fairness of communication, shareholder activism and conflicts of interests of CEO's mergers opportunities. A confrontation between the CSR policy and the reality raises the fundamental questions why the powerful CSR guidelines and ethical principles did not help in the assessment of the risks.},
  author       = {Fassin, Yves and Gosselin, Derrick},
  issn         = {0167-4544},
  journal      = {JOURNAL OF BUSINESS ETHICS},
  keyword      = {shareholder activism,collapse,CEO,acquisition,TAKEOVERS,CORPORATE SOCIAL PERFORMANCE,BUSINESS,TOP,COMPENSATION,TRANSACTIONS,COOPERATION,OWNERSHIP,MANAGEMENT,financial crisis,bank,business ethics,stakeholder,CSR,PREMIUMS},
  language     = {eng},
  number       = {2},
  pages        = {169--191},
  title        = {The collapse of a European bank in the financial crisis: an analysis from stakeholder and ethical perspectives},
  url          = {http://dx.doi.org/10.1007/s10551-011-0812-2},
  volume       = {102},
  year         = {2011},
}

Chicago
Fassin, Yves, and Derrick Gosselin. 2011. “The Collapse of a European Bank in the Financial Crisis: An Analysis from Stakeholder and Ethical Perspectives.” Journal of Business Ethics 102 (2): 169–191.
APA
Fassin, Y., & Gosselin, D. (2011). The collapse of a European bank in the financial crisis: an analysis from stakeholder and ethical perspectives. JOURNAL OF BUSINESS ETHICS, 102(2), 169–191.
Vancouver
1.
Fassin Y, Gosselin D. The collapse of a European bank in the financial crisis: an analysis from stakeholder and ethical perspectives. JOURNAL OF BUSINESS ETHICS. 2011;102(2):169–91.
MLA
Fassin, Yves, and Derrick Gosselin. “The Collapse of a European Bank in the Financial Crisis: An Analysis from Stakeholder and Ethical Perspectives.” JOURNAL OF BUSINESS ETHICS 102.2 (2011): 169–191. Print.