2003•Journal of Xiamen UniversityRequires access
Ethics in Financial Institutions and Financial Market Efficiency
Zhao Xiang
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Abstract
Although the financial market efficiency and equity sometimes turn out to be contradictory policy goals, fundamentally, equity is the prerequisite of efficiency. With financial products and financial transactions going increasingly technological, under the entrustment of agents between investors and financial institutions, the ethics in financial institutions will become an important determinant not only in financial market equity but also in financial market efficiency.