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JOURNAL OF LEADERSHIP, ACCOUNTABILITY AND ETHICS
An Analysis of the Lehman Brothers Code of Ethics and the Role
It Played in the Firm
Author(s): Betsy Stevens, Scott Buechler
Citation: Betsy Stevens, Scott Buechler, (2013) "An Analysis of the Lehman Brothers Code of Ethics and the Role It Played in the Firm," Journal of Leadership, Accountability and Ethics, Vol. 10, Iss. 1, pp. 43 - 57
Article Type: Research paper
Publisher: North American Business Press
Abstract:
Effective corporate ethical codes must be communicated in organizations and assimilated into their
cultures. When they exist as separate entities outside the culture or are communicated ineffectively, they
can fail to function as key strategic documents. The ethical code from Lehman Brothers investment bank
was analyzed using two different methodologies. Results showed the code was clear in communicating
facts and information, but was not strong in transformational and visionary aspects that might assist
company during a crisis. The study revealed that the culture at Lehman was not tied to the code and it did
not play a significant role in the organization.
