Corporate Governance Crisis Caused by Lack of Business Ethics
Organizational Behavior Analysis of LIBOR Scandal
- 10.2991/aebmr.k.211117.003How to use a DOI?
- Fraud prevention; LIBOR scandal; morality; leadership; responsibility
Firstly, based on the fraud of Barclays Bank in the LIBOR manipulation incident, this paper analyzes the role of behavioral and psychological factors such as morality, the principle of reciprocity, conformity and obedience to authority in misconduct. Secondly, it analyzes the internal culture of commercial banks and the external culture of the overall financial industry under the background of the event, as well as the role of social structure and informal social relations in LIBOR fraud at that time. Finally, according to the personal point of view, this paper puts forward the responsibilities of individuals, organizations and governments in preventing fraud, and puts forward measures to prevent fraud such as LIBOR manipulation from these three levels.
- © 2021 The Authors. Published by Atlantis Press International B.V.
- Open Access
- This is an open access article under the CC BY-NC license.
Cite this article
TY - CONF AU - Haoran Xu PY - 2021 DA - 2021/11/30 TI - Corporate Governance Crisis Caused by Lack of Business Ethics BT - Proceedings of the International Conference on Management, Business, and Technology (ICOMBEST 2021) PB - Atlantis Press SP - 17 EP - 25 SN - 2352-5428 UR - https://doi.org/10.2991/aebmr.k.211117.003 DO - 10.2991/aebmr.k.211117.003 ID - Xu2021 ER -