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The dictionary of the Royal Spanish Academy defines the ethics as "The part of the philosophy that deals with the morality and the obligations of man". The financial trader Abelardo Gonzalez says that ethical behavior and actions of financial professionals is important. The errors and mistakes in the management of their actions due to poor ethical behavior, end their professional careers and credibility of themselves and of the company.
A study carried out by students of the financial area of the UNAM mentioned that ethics has a priority to set general principles that serve to guide people's conduct. The ethic of the finance executive is a key element for performance. Not having the right values in the economy has generated corrupt practices, causing great damage, which in occasions has affected the world.
This study proposes some values which finance should take into consideration, so that the development of its activities are carried out within a framework of legality and responsibility. These values are:
- Equality: impartiality and fair treatment among associates, clients and partners, which must have the same opportunities in the same circumstances. Treat your co-workers or classmates well, regardless of social status, sexual preference, gender, among other things.
- Commitment: It is the growth of the clients and partners, in relation to improvement of their quality of life, fulfilling each one to his given word. For example: To comply with the stipulated verbally, without having to be in writing to be fulfilled. You will be honest and discreet with the accounting issues of each of your clients.
- Efficacy: operations must be effective, to achieve the goal of providing professional services with quality and a good level of satisfaction in the service provided. Make the right decisions to achieve the company goals without relying solely on the "boss".
- Efficiency: Do everything you need to get the business plan, within the right means, the correct management and ideal resources, providing adequate services and quality.
- Transparency: all the actions carried out by the company must have it, as a basis for the truth so that the operations are seen clearly, evident, avoiding the lack of honesty. All accounting must be accounted for, no altered numbers, made up financial statements. Once discrepancies are discovered, the company and the financier lose credibility.
Taking into account that honesty, fairness, professionalism, diligence, loyalty, transparency, confidentiality, fairness and fair treatment should be the main value of the people involved. These are the principles of the ethics of a financial executive, in order to generate behaviors that reflect good habits and virtues.
Content in this edit is translated from the existing Spanish Wikipedia article at [[:es: Ética financiera]]; see its history for attribution.
References:
- Beowne William, García Agustina, Hernández Erika, Martínez Celeste, Mascote Gabriela, Uribe José Carlos. “Las finanzas y la relación con la ética”. UNAM. Recuperado de http://es.scribd.com/doc/4992651/Las-Finanzas-y-La-Etica
- González Abelardo. La ética financiera, medio de creación de valor del agente financiero independiente. Recuperado de http://www.asesoresfinancierosindependientes.com/La-etica-financiera-medio-de-creacion-de-valor-del-agente-financiero-independiente_a52.html