Journal of Business Ethics 99 (S1):93-109 (2011)

Authors
Joseph Petrick
Pennsylvania State University (PhD)
Abstract
The author identifies the major micro-, meso-, and macro-level financial risk shifting factors that contributed to the Great Global Recession and how the absence of a compelling moral vision of responsible financial risk management perpetuated the economic crisis and undermined the recovery by blind reliance upon insufficiently accountable bailouts. The author offers a new theoretical model of Sustainable Stakeholder Capitalism by exercising moral imagination which inclusively and moderately balances four multi-level factors: types of capitalism, moral theories, human nature drives, and credit risk profiles. Finally, the author recommends micro-, meso-, and macro-level practical reforms to prevent a recurrence of the current economic freefall, to re-create systemic global financial institution integrity, and to promote responsible risk management for sustainable global prosperity for current and future generations
Keywords Sustainable Stakeholder Capitalism (SSC)  System integrity capacity  Moral imagination  Responsible financial risk management
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DOI 10.1007/s10551-011-1157-6
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References found in this work BETA

World Poverty and Human Rights.Thomas Pogge - 2002 - Ethics and International Affairs 19 (1):1-7.

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Citations of this work BETA

Moral Responsibility for Systemic Financial Risk.Jakob Moggia - 2019 - Journal of Business Ethics 169 (3):1-13.
Moral Responsibility for Systemic Financial Risk.Jakob Moggia - 2019 - Journal of Business Ethics 169 (3):461-473.

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