Finance

Teaching Ethics in the Introductory Finance Course

David C. Hyland, Ph.D.
Mentors: Bob Ahuja, Ph.D. (Finance), Philip W. Glasgo, DBA (Marketing)

Acknowledgements

Thanks to the following: the Xavier Jesuit Community for providing funds that helped with this project, mentors Bob Ahuja and Phil Glasgo, Dana Tindall for technological support that made it possible for more student involvement, Paul Fiorelli for organizing the Teaching Business Ethics Seminar in the Summer of 2005 that provided several good ideas, Ed Waldvogel and Dan Quible for speaking to my class, Marianne Jennings for useful resources and Debra Mooney for her encouragement and support.

Idea

In an era of recent corporate scandals, it may be beneficial for Business Departments to spend more time discussing ethical issues. Students may be confronted with social and individual ethical issues when they are working in a corporate environment. If they have been exposed to situations and discussed the consequences of those situations in a classroom setting, they may be better equipped to handle an ethical situation if it arises. Placing this in the context of Jesuit Education and Pedagogy this project attempts to:

1. Develop responsible citizens who are sensitive to the needs of our times
2. Pay special attention to values, ethical issues and the development of moral character
3. Inspire graduates to change society and the world for the better.

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Insider Trading Teaching Case: Owens-Corning Fiberglas

Abstract

This case illustrates a situation that could be faced by an employee with access to sensitive information about their company. The case provides information about what insider trading is and the legal ramifications involved. In addition it provides a good setting to discuss the meaning of accounting practices such as write-offs, market efficiency and how investors incorporate knowledge into stock prices. Although the case is set in 1992, the situation is timeless. Owens-Corning went through Chapter 11 in 2000 so stock price information on Owens- Corning is difficult to obtain. Therefore, students do not have easy access to the end result of the case. The case is suitable for undergraduates and graduates.

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