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

Yves Fassin UGent and Derrick Gosselin UGent (2011) Working paper : faculty of economics and business administration. 2011(726).
abstract
The collapse process of Fortis’s during 2008 - 2009 is taken as a basis for reflective considerations from strategy perspectives, stakeholder, ethical and corporate governance perspectives. These perspectives are relevant since Fortis group was internationally recognized as an example of good and leading practice in the field of CSR. Additionally most literature on causes of irresponsibility is in the fields of economics, and specifically the economics of market failure. The business ethics literature tends “not to address explanatory questions about the causes of CSR breaches”. The Fortis case focuses on a short history with a selected number of key events. The study provides an overall strategic analysis from corporate governance perspectives. Major issues in the corporate governance literature are applied to or confronted with the Fortis case, especially the role of the board in strategy. This analysis is complemented with some specific issues as the problematic of CEO remuneration and the role of egos. This governance analysis reveals inconsistencies between law and corporate governance, and tensions between the law and ethics. We conclude with some lessons for corporate governance and corporate strategy.
Please use this url to cite or link to this publication:
author
organization
year
type
misc (editorialMaterial)
publication status
published
subject
keyword
Banking, Corporate, Governance, Fortis., Business Ethics, Stakeholder Management, Strategy, CSR, Corporate Social Responsibility
in
Working paper : faculty of economics and business administration
volume
2011
issue
726
pages
56 pages
publisher
Ghent University
place of publication
Ghent, Belgium
OTHER
D/2011/7012/31
language
English
UGent publication?
yes
classification
V
copyright statement
I have retained and own the full copyright for this publication
id
1851822
handle
http://hdl.handle.net/1854/LU-1851822
date created
2011-07-04 10:31:34
date last changed
2011-07-04 13:20:37
@misc{1851822,
  abstract     = {The collapse process of Fortis{\textquoteright}s during 2008 - 2009  is taken as a basis for reflective considerations from strategy perspectives, stakeholder, ethical and corporate
governance perspectives. These perspectives are relevant since Fortis group was internationally recognized as an example of good and leading practice in the field of CSR. Additionally most literature on causes of irresponsibility is in the fields of economics, and specifically the economics of market failure. The business ethics literature tends {\textquotedblleft}not to address explanatory questions about the causes of CSR breaches{\textquotedblright}. The Fortis case focuses on a short history with a selected number of key events. The study provides an overall strategic analysis from corporate governance perspectives. Major issues in the corporate governance literature are applied to or confronted with the Fortis case, especially the role of the board in strategy. This analysis is complemented with some specific issues as the problematic of CEO remuneration and the role of egos. This governance analysis reveals inconsistencies between law and corporate governance, and tensions between the law and ethics. We conclude with some lessons for corporate governance and corporate strategy.},
  author       = {Fassin, Yves and Gosselin, Derrick},
  keyword      = {Banking,Corporate,Governance,Fortis.,Business Ethics,Stakeholder Management,Strategy,CSR,Corporate Social Responsibility},
  language     = {eng},
  number       = {726},
  pages        = {56},
  publisher    = {Ghent University},
  series       = {Working paper : faculty of economics and business administration},
  title        = {The collapse of a European bank in the financial crisis: an analysis from strategic, stakeholder, ethical and governance perspectives},
  volume       = {2011},
  year         = {2011},
}

Chicago
Fassin, Yves, and Derrick Gosselin. 2011. “The Collapse of a European Bank in the Financial Crisis: An Analysis from Strategic, Stakeholder, Ethical and Governance Perspectives.” Working Paper : Faculty of Economics and Business Administration. Ghent, Belgium: Ghent University.
APA
Fassin, Y., & Gosselin, D. (2011). The collapse of a European bank in the financial crisis: an analysis from strategic, stakeholder, ethical and governance perspectives. Working paper : faculty of economics and business administration. Ghent, Belgium: Ghent University.
Vancouver
1.
Fassin Y, Gosselin D. The collapse of a European bank in the financial crisis: an analysis from strategic, stakeholder, ethical and governance perspectives. Working paper : faculty of economics and business administration. Ghent, Belgium: Ghent University; 2011.
MLA
Fassin, Yves, and Derrick Gosselin. “The Collapse of a European Bank in the Financial Crisis: An Analysis from Strategic, Stakeholder, Ethical and Governance Perspectives.” Working paper : faculty of economics and business administration 2011 : n. pag. Print.