Comparing Financial Scandals as a Tool for Ethics Discussions in a Graduate Finance Course

Abstract

In recent years, business education has increasingly included a focus on ethical issues in general, and financial integrity in particular. Part of the catalyst for this increased emphasis has been the regrettable availability of a large number of serious, well-publicized instances of actions ranging from questionable to fraudulent.
Fortunately, some of these same episodes provide excellent fodder for careful analysis and thought-provoking classroom discussion of the ethical obligations of financial managers in particular, and indeed of managers in general. This paper discusses the development of a strategy for encouraging students to consider carefully the implications of decisions regarding ethical decision-making. It is hoped that through this process, students will develop a greater appreciation of the need to think critically and independently regarding accusations of impropriety.