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A Framework for Implementing a Twin Peak Financial Regulatory Model: Institutional Logics Theoretical Perspective

Author

Listed:
  • Pumela Msweli

    (University of South Africa, School of Business Leadership, South Africa)

  • Dexter L. Ryneveldt

    (University of South Africa, School of Business Leadership, South Africa)

Abstract

This paper examines the institutionalisation of the Financial Services Regulations Act, in South Africa which gave effect to a Twin Peaks Financial Regulation Model. The aim of the paper is to introduce an institutional logics framework that financial services institutions may use to identify enabling and disabling institutional assumptions, principles and values that lead to a successful institutionalisation of a Twin Peaks Financial Regulatory Model in a developmental state. Institutional logics, a strand of institutional theory, is the lens through which this paper examines the institutionalisation of the Twin Peaks regulatory regime in South Africa. South Africa is the only country in the African continent that has implemented the Twin Peaks regulatory Model; and is one of only 38 OECD countries that implemented the Twin Peaks model. The paper critiques the societal and institutional considerations that shaped the development of the Twin Peaks Model in South Africa.

Suggested Citation

  • Pumela Msweli & Dexter L. Ryneveldt, 2023. "A Framework for Implementing a Twin Peak Financial Regulatory Model: Institutional Logics Theoretical Perspective," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 153-161, August.
    • Handle: RePEc:ovi:oviste:v:xxiii:y:2023:i:1:p:153-161
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    References listed on IDEAS

    as
    1. Michael C. Jensen, 2010. "Value Maximization, Stakeholder Theory, and the Corporate Objective Function," Journal of Applied Corporate Finance, Morgan Stanley, vol. 22(1), pages 32-42, January.
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    More about this item

    Keywords

    financial services regulation; Twin Peaks model; institutional theory; institutional logics; societal logics;
    All these keywords.

    JEL classification:

    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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