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1. Journal of Business Ethics Education: Volume > 9 > Issue: Special Issue
Parmendra Sharma, Eduardo Roca, Ken McPhail The Global Financial Crisis and Reinventing the Business School
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2. Journal of Business Ethics Education: Volume > 9
John Hooker In This Volume
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education research articles
3. Journal of Business Ethics Education: Volume > 9
Margaret Brunton, Gabriel Eweje Teaching Ethics: The Role of Culture in Ethical Perceptions
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This paper reports research carried out in a New Zealand university to revisit the question of whether national culture influences the perceptions of business students about ethical dimensions in somewhat ambiguous cases. Although this study demonstrated mixed results, the identified patterns in the data provide useful insight into the perceptions of diverse cultural groups. There are two main findings. First, the study provides an example which demonstrates that althoughHofstede’s (1991) dimensions of individualism and collectivism illustrate important differences, using these dimensions without consideration of the micro-context within geographical borders may result in variable outcomes. Second, the qualitative data revealed greater variability within cultures than would have been the case using purely quantitative data. Despite the similarity of the educational qualification these students receive, their perceptions of ethical and moral dilemmas in workplace scenarios do vary, primarily explained as an appeal to a deontological or teleological rationale, within as well as between cultural cohorts. Such insight into cultural differences is an integral component for those educators involved in curriculum development in the future.
4. Journal of Business Ethics Education: Volume > 9 > Issue: Special Issue
Ross Guest The Case for Integrating Accounting, Finance, and Economics in Teaching the GFC Through a Problem-Based Learning Approach
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This paper argues that a key lesson of the GFC of 2008-9 is that our “silo” approach to the disciplines of accounting, finance, and economics (AFE) has not equipped students to deal with complex real world problems such as global financial crises. Such real world problems are interdisciplinary in their causes, effects, and solutions. The paper discusses elements of each of the AFE disciplines that are essential for understanding the GFC, and why courses in economics and finance that seek to address the GFC as a topic need to integrate ideas from these three disciplines. A problem-based learning (PBL) approach is offered as a way forward, through at least one capstone course in a business/commerce degree that brings together the strands from a range of commerce/business disciplines in a case study approach. The paper offers an outline of such a PBL approach to the GFC.
5. Journal of Business Ethics Education: Volume > 9 > Issue: Special Issue
Jason West Money Mathematics: Examining Ethics Education in Quantitative Finance
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The field of quantitative analysis is often mistaken to be a discipline free from ethical burdens. The quantitative financial analyst or “quant” profession holds a position of significant responsibility as the keeper of mathematical models used in complex derivative security pricing and risk management. Despite this responsibility very few postgraduate programs address the teaching of ethics and professional standards in their curriculum, and the credibility of the profession has suffered as a result of several high-profile financial losses. Some of these failures could have been avoided and their impacts diminished if ethical considerations were integrated with quantitative method. Appropriate development in ethics education for quants is needed to identify points in the decision-making process where ethical questions can arise, and to explain how quants can protect stakeholders from the costs of unethical behaviour. An approach to ethics education needs to be flexible and allow for different methods to infuse ethical coverage into the course. Such an approach will go some way towards aligning the profession with other specialisations in banking and avoid the need for complex and unnecessary regulation.
education research articles
6. Journal of Business Ethics Education: Volume > 9
Ying Han Fan, Gordon Woodbine, Glennda Scully, Ross Taplin Accounting Students’ Perceptions of Guanxi and Their Ethical Judgments
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A cross sectional study of a sample of Australian accounting students during 2011 is used to test whether the relationship concept of guanxi is accepted as a social networking concept across cultures. While favour-seeking guanxi appears to be equally important across cultural groups (as a universal set of values), its negative variant, rent-seeking guanxi continues to be sanctioned to a greater extent by students holding temporary visas from Mainland China. Contrary to the findings of Fan, Woodbine, and Scully (2012) involving Chinese auditors, this study of Australian and Chinese students did not identify favour-seeking guanxi as a factor influencing ethical judgment, whereas rent-seeking guanxi was strongly significant as a predictor of judgment making for Australian students. Major concerns are expressed about the need to sensitize Chinese students to make them more aware of unethical practices prevalent in their home country. These findings have significant implications for educators delivering ethics courses to cohorts that include international students as well as the professional bodies involved in designing development programs.
7. Journal of Business Ethics Education: Volume > 9 > Issue: Special Issue
Richard I. Copp Teaching Finance in the Post-GFC Environment: Quomodo hic habetur, et Quo hinc?
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Despite criticism in the wake of the GFC, history shows that theory and curricula adapt to rectify any disconnects between theory, curricula, and practice. Finance theory unquestionably has antecedents in economics, accounting, legal theory, and psychology. Some theoretical developments—including the moral hazard consequences of limited liability—have yet to filter through to many texts and curricula, which also omit explanations of uncertainty; incomplete and (sub)optimal contracting; contagion; and behavioural finance. Student learning outcomes could be enhanced if universities, perhaps in a final year, cross-disciplinary “capstone” course, empowered students to understand the financial documentation evidencing sophisticated transactions; map relevant cash flows and wealth transfers; and recognise Ponzi schemes, the ethics of stakeholder wealth transfers, the conditions for contagion, and incentives for adverse selection and moral hazard in practice.
education research articles
8. Journal of Business Ethics Education: Volume > 9
Shireenjit Johl, Beverley Jackling, Grace Wong Ethical Decision-Making of Accounting Students: Evidence from an Australian Setting
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This study investigates accounting students’ ethical decision-making judgments and behavioral intentions. The Multidimensional Ethics Scale (MES) was used to measure the extent to which a hypothetical behavior was consistent with three moral criteria (Moral Equity, Relativism and Contractualism). The study specifically tests the differences in ethical decision-making between students who have been exposed to a dedicated ethics unit of study compared with students who have not studied ethics. The influences of culture and gender on students’ ethical decision-making are also addressed in the study. Ethical decision-making was assessed via three case studies describing moral dilemmas that an individual, business or professional person might face. The results provide support for the MES and the value added from incorporating a dedicated ethical decision-making unit in the accounting curriculum. The results also support prior evidence of gender bias and the impact of cultural differences on ethical decision-making.
9. Journal of Business Ethics Education: Volume > 9 > Issue: Special Issue
Jacqueline M. Drew, Michael E. Drew Who Was Swimming Naked When the Tide Went Out? Introducing Criminology to the Finance Curriculum
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Finance programs around the world have been revising their curricula following the Global Financial Crisis (GFC). While much of the debate has centred on the dominance of scientific and quantitative pedagogical approaches to finance education in business schools, one of the most egregious aspects uncovered during the deleveraging of the financial system was the scale and scope of finance crime and financial fraud (including the Madoff scandal, described as the largest Ponzi scheme in history). This paper argues that those “on the inside”, the professionals within the finance industry, have a central role to play in safeguarding the ethics and integrity of financial markets. It is our conjecture that prevention and earlier detection of finance crime and financial fraud may be addressed, in part, by better educating finance professionals about these issues. We posit that the enormity of illegal activity uncovered in the wake of the GFC demands, as a matter of priority, the integration of criminological and criminal justice theory into the finance curriculum.
10. Journal of Business Ethics Education: Volume > 9 > Issue: Special Issue
Richard I. Copp, Victor Wong Ethics Education for Finance Students Following the GFC
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University finance curricula have been criticized in the financial press in the wake of the GFC for ignoring the ethical dimensions of financial decision-making in practice. Many practitioners experience moral dilemmas about whether the broader “public interest” objectives of legal or accounting regulation, for example, should at times be sacrificed in favour of fulfilling an inconsistent upper management objective. Moreover, many propositions in finance are both positive and normative. For example, financial maxima and optima can be discussed only for a given distribution of wealth between relevant parties: shareholder wealth can be maximized, but only subject to a “given” constraint determined by the ethical norms of the society in which the firm operates. Assuming students’ sensitivity to ethical issues can be enhanced, ethics should be embedded within finance curricula, together with a final year, capstone course on “Ethical Investing” in the degree.
education research articles
11. Journal of Business Ethics Education: Volume > 9
Nhung T. Nguyen, M. Tom Basuray, Donald Kopka, Donald McCulloh Moral Awareness in Business Ethics Education: An Empirical Investigation
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In this study, a U.S. Mid-Atlantic university’s business ethics education program was assessed as part of the assurance of learning assessment using a sample of one hundred and thirty upper level undergraduate business students. Across three moral dilemmas, i.e., Accounting, Finance and Human Resource Management, Jones’ (1991) issue contingent ethical decision-making model received considerable support. Both moral awareness and moral judgment were found to be related to moral intent. A focus in moral awareness in business ethics curriculum was recommended as a result of lying being viewed as acceptable by a majority of respondents in the Human Resource Management scenario. Implications for business ethics education were discussed.
12. Journal of Business Ethics Education: Volume > 9 > Issue: Special Issue
Zoltan Murgulov Simulated Trading Environment as a Learning Tool in Corporate Finance
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This research explores the application of an innovative learning approach by using trading simulation tutorials to reinforce the conventional learning styles in a corporate finance subject at postgraduate level. The majority of surveyed students perceive that their learning experience has been significantly enhanced through simulated trading tutorials. The post-trading survey shows students also indicate feeling more confident to self-monitor their learning. Furthermore, themajority of students feel able to recognise ethical issues in relation to trading in securities. This research highlights some potentially negative effects if trading simulations were to be used in isolation without providing students with a solid background in ethics. This issue is even more relevant in the post Global Financial Crisis environment. If carefully designed and implemented, trading simulations have a potential to mitigate some potentially negative effects of the use of technology and be an effective and inclusive teaching tool.
education research articles
13. Journal of Business Ethics Education: Volume > 9
Edward R. Balotsky Just How Much Does Business Ethics Education Influence Practitioner Attitudes? An Empirical Investigation of a Multi-Level Ethical Learning Model
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The impact of business ethics education on socially responsible practitioner behavior is not a new concern. A sizable extant literature base questions pedagogies used and outcomes achieved by the few early studies done in this area. Ensuing research has not produced definitive answers; measurement, methodological, and generalizability issues are prevalent due to the fragmented nature of most work. Given little pre-existing structure, an empirically-based model is needed which both sheds more awareness on the ethics education-business conduct relationship and quantifies the degree of change that the education caused. This study operationalizes a multi-level ethical learning model. Using a survey administered at the start and end of an MBA ethics course,subsequent exploratory factor analysis, a matched t-test of pre and post-course mean scores, and an effect size calculation utilizing the Cohen’s d statistic, the existence of varying degrees of change in ethical outlook after formal ethics education is supported. Model enhancements and the potential for longitudinally following ethical learning from the classroom to the workplace are discussed.
14. Journal of Business Ethics Education: Volume > 9 > Issue: Special Issue
Mark Brimble, Brian Murphy Past, Present, and Future: The Role of Tertiary Education in Supporting the Development of the Financial Planning Profession
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The importance of financial advice for individuals is difficult to refute, however the degree to which the financial planning industry has been able to provide this to date is in debate. As a result, the industry, which is still in its infancy, has been subject to rapid growth, various controversies and regulatory intervention. The Global Financial Crisis (GFC) has contributed to the pace of this change with increased client, regulatory and self scrutiny as a result of the heightened dissatisfaction with advice outcomes. The coalescence of these factors has led to significant internal and external changes within the industry, resulting in the apparent commitment to becoming a profession. This paper will examine the implication of this agenda for tertiary education in relation to the role it could play to support the development of the financial planning profession. The paper achieves this by (1) reviewing the background to the financial planning industry and the move towards professionalism; (2) discussing current developments in the industry; (3) establishing the role of tertiary education and (4) assessing the role that tertiary education has played in supporting the financial planning sector. We argue that tertiary education has a critical role to play, however it is yet to achieve this. This study will be useful for those in both the managerial and operational/ academic elements of tertiary education in terms of providing considered avenues for engagement in this discipline. Indeed, if the paper provokes debate and discussion in tertiary education around the nation then we would consider our task complete.
education research articles
15. Journal of Business Ethics Education: Volume > 9
Aditya Simha, Josh P. Armstrong, Joseph F. Albert Attitudes and Behaviors of Academic Dishonesty and Cheating—Do Ethics Education and Ethics Training Affect Either Attitudes or Behaviors?
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Academic dishonesty and cheating by students has become endemic in higher education. In this article, we conducted a study on undergraduate business students (n = 162) to examine the impact of business ethics education and ethics training on student attitudes towards academic dishonesty as well as their cheating behaviors. We found that business ethics education in conjunction with business ethics training had a positive impact on students’ attitudes towardsacademic dishonesty and cheating; however there was no significant impact of either business ethics education or training on actual cheating behaviors. In our discussion we suggest some implications of our findings, and make some suggestions about future research directions.
16. Journal of Business Ethics Education: Volume > 9
Peter Seele, Katrin Seele Standalone, Curricular Infusion or Generic Skills in Business Ethics Education? An Overview and Evaluation of Extracurricular Studium Generale Programs in Austria, Germany, and Switzerland
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17. Journal of Business Ethics Education: Volume > 9
Linda L. Brennan, Robert D. Perkins Can Virtual Mentors Add Value to Business Ethics Education? A Case-Based Exploratory Study
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We examine the educational benefits of a virtual mentor program used to supplement classroom teaching of ethics, by connecting students with business practitioners through computer-mediated communications. Virtual mentoring can be a valuable and inexpensive way to extend the classroom lectures and discussion with real-world perspectives. In addition, it can serve additional purposes for students, such as learning how to develop a relationship with a mentor, and improving application of ethical concepts in practical situations. Is this potential realistic for business ethics education? Based on a cross-case comparison of several virtual mentoring application and student satisfaction ratings, our findings establish that perspective and confidence increased in students’ transfer of ethical concepts and applying ethical judgment to business situations. Based on these experiences we suggest guidelines to individuals who teach business ethics, regarding the value of using a virtual mentor program, including practical lessons about implementing virtual mentors programs.
teaching articles
18. Journal of Business Ethics Education: Volume > 9
Claus Strue Frederiksen The Presentation of Utilitarianism within the Field of Business Ethics
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This article presents a discussion of the presentation of utilitarianism in textbooks and research articles within the field of business ethics. My objective is twofold. First, I will demonstrate that the presentation of utilitarianism, by a substantial number of prominent business ethicists, is characterized by a lack of precision and includes faulty descriptions. In this regard, I focus on presentations of utilitarianism in relation to distributive principles and on the demanding nature of utilitarianism. Second, I will demonstrate that these imprecise and faulty presentations result in a misguided critique of utilitarianism and dubious conclusions within the field of business ethics. Here, I will discuss and reject conclusions regarding utilitarianism and its relation to capitalism, theclaim that utilitarianism is not much more sophisticated than a simple majority vote and that utilitarianism is in accordance with harmful actions such as bribery and child labor.
19. Journal of Business Ethics Education: Volume > 9
Yusuf M. Sidani, Jon Thornberry A Problem-Based Learning Approach to Business Ethics Education
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There are several challenges associated with traditional business ethics education. While case studies have been used extensively in ethics education, such use can be complemented by using Problem Based Learning (PBL). PBL represents a pedagogy employing more collaborative tools that involve students more extensively in the learning process. A well-designed teaching approach based on PBL can have significant positive impact on students’ learning. This paper supplies a representative teaching interaction based on PBL, and discusses the implications of its structure. Introducing PBL is challenging and comes with significant costs as faculty members have to be trained, roles have to be exchanged, powers have to be relinquished, and learning materials have tobe written. We conclude that PBL is suitable for an ethics course as most ethical situations require introspection, reflection, discovery, and concern for other viewpoints, all of which can be facilitated in a PBL environment.
20. Journal of Business Ethics Education: Volume > 9
Katherina Glac, Christopher Michaelson What is a Good Answer to an Ethical Question?
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Instructors of business ethics now have a wealth of cases and other pedagogical material to draw on to contribute to achieving ethics learning goals now required at most business schools. However, standard ethics case pedagogy seems to provide more guidance regarding the form and process for getting to a good answer than on the ethical content of the answer itself. Indeed, instructors often withhold their own judgments on what is a good answer so as not to indoctrinate students with the instructor’s views. To answer our question on what is a good answer to an ethical question, we asked three master teachers of business ethics to share their perspectives on a good answer. Their answers revealed stark differences—regarding the starting point of business ethics, the purpose of business, prioritization of analytical disciplines, and research methods—but also a common thread demanding that a good answer articulates a student's own moral voice. Moral voice is a genuine expression of an individual’s considered moral judgment that is reflective of personal values and cognizant of professional expectations. Cultivating the expression of moral voice goes beyond formal and theoretical proficiency to overcome human tendencies toward idealism, insincerity, and rationalization. Moral voice does not by itself fill the gap in business ethics pedagogy on the content of a good answer, but it demands that students support an answer that they can genuinely believe in while encouraging instructors to cultivate in their students sincerity and engagement, conscience, and a sense of self that are indispensable to genuine ethical commitment.