2013
DOI: 10.2478/revecp-2013-0004
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The Impact of the Financial Crisis on Business Ethics in the Banking Sector: A Case Study from Slovakia

Abstract: Abstract:The importance of ethical standards for financial markets is based on the purpose of commercial banks and other financial institutions which operate with money of others. Besides significant economic implications, the financial crisis has also revealed considerable lack of moral values in commercial banking, which has been reflected by a very unscrupulous approach of bankers to their clients. The crisis has also caused a fundamental turnaround in public opinions on commercial banking and increased the… Show more

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Cited by 3 publications
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“…For example, after crisis, service quality appeared to have improved in the case of both Islamic and conventional banks, which probably could be the outcome of lost business and market share during GFC times forcing these banks to care more for the customers. The increased global attention on the financial system and lack of decency in relation to customers after the GFC is highlighted by Belás (2013), who also states the importance of customer satisfaction for commercial banks. Moreover, conventional banks appeared to be more reliant on lending activities, hinting at comparatively higher intermediation in their case after the recent crisis.…”
Section: Resultsmentioning
confidence: 99%
“…For example, after crisis, service quality appeared to have improved in the case of both Islamic and conventional banks, which probably could be the outcome of lost business and market share during GFC times forcing these banks to care more for the customers. The increased global attention on the financial system and lack of decency in relation to customers after the GFC is highlighted by Belás (2013), who also states the importance of customer satisfaction for commercial banks. Moreover, conventional banks appeared to be more reliant on lending activities, hinting at comparatively higher intermediation in their case after the recent crisis.…”
Section: Resultsmentioning
confidence: 99%