Switch to: References

Add citations

You must login to add citations.
  1. Do brokers act in the best interests of their clients? New evidence from electronic trading systems.Annilee M. Game & Andros Gregoriou - 2014 - Business Ethics: A European Review 25 (2):187-197.
    Prior research suggests brokers do not always act in the best interests of clients, although morally obligated to do so. We empirically investigated this issue focusing on trades executed at best execution price, before and after the introduction of electronic limit-order trading, on the London Stock Exchange. As a result of limit-order trading, the proportion of trades executed at the best execution price for the customer significantly increased. We attribute this to a sustained increase in the liquidity of stocks as (...)
    Download  
     
    Export citation  
     
    Bookmark   1 citation  
  • Ethical Standards for Stockbrokers: Fiduciary or Suitability? [REVIEW]James J. Angel & Douglas McCabe - 2013 - Journal of Business Ethics 115 (1):183-193.
    What are the ethical obligations of the sellers of financial products to their customers? Stockbrokers in the U.S. have a legal and ethical requirement to recommend only “suitable” investments to their customers. This is a fairly weak standard. Currently, there are proposals to raise the standard to a fiduciary one in which the recommendations would have to be in the best interests of the clients. Brokers sell solutions to financial problems. Similar to an auto mechanic or a doctor, the product (...)
    Download  
     
    Export citation  
     
    Bookmark   3 citations  
  • A Worldwide Examination of Exchange Market Quality: Greater Integrity Increases Market Efficiency.Michael J. Aitken, Frederick H. de B. Harris & Shan Ji - 2015 - Journal of Business Ethics 132 (1):147-170.
    We develop a framework for assessing security market quality, relating five elements of market design to three metrics of market integrity and two metrics of market efficiency. We empirically implement this integrity–efficiency MQ framework by testing a hypothesis that trade-based ramping manipulation at the close raises execution costs on 24 security markets worldwide. Estimating a simultaneous equations model of ramping incidence, spreads, and the probability of deploying real-time surveillance, we show that quoted bid-ask spreads are positively related to the incidence (...)
    Download  
     
    Export citation  
     
    Bookmark   3 citations