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Risk culture in financial organisations: an interim report

Author

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  • Ashby, Simon
  • Palermo, Tommaso
  • Power, Michael

Abstract

This report which was published by CARR and the University of Plymouth, explores the issue of how financial institutions are increasingly investing in programmes to understand and manage their risk cultures. Despite near universal agreement that the organisational risk culture of banks and other financial institutions (BOFIs) played a major role in the global financial crisis this report has found that there is still no clear consensus on how such risk cultures can be effectively managed.

Suggested Citation

  • Ashby, Simon & Palermo, Tommaso & Power, Michael, 2012. "Risk culture in financial organisations: an interim report," LSE Research Online Documents on Economics 47488, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:47488
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    File URL: http://eprints.lse.ac.uk/47488/
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    Cited by:

    1. Cormac Bryce & Thorsten Chmura & Rob Webb & Joel Stiebale & Carly Cheevers, 2019. "Internally Reporting Risk in Financial Services: An Empirical Analysis," Journal of Business Ethics, Springer, vol. 156(2), pages 493-512, May.
    2. Meghan Leaver & Tom W. Reader, 2016. "Non-technical skills for managing risk and performance in financial trading," Journal of Risk Research, Taylor & Francis Journals, vol. 19(6), pages 687-721, June.
    3. LametK.Maika & Kevin Wachira, 2020. "Effects of organizational culture on strategy implementation in water boards in Kenya," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 9(4), pages 15-28, July.
    4. Patrick John Ring & Cormac Bryce & Ricky McKinney & Rob Webb, 2016. "Taking notice of risk culture -- the regulator’s approach," Journal of Risk Research, Taylor & Francis Journals, vol. 19(3), pages 364-387, March.
    5. Baldan, Cinzia & Geretto, Enrico & Zen, Francesco, 2014. "Managing Banking Risk with the Risk Appetite Framework: a Quantitative Model for the Italian Banking System," MPRA Paper 59504, University Library of Munich, Germany.
    6. Peter McCormack & Jonathan Deacon, 2017. "Can trust be restored to high-street banking: A 20-year challenge?," Cogent Business & Management, Taylor & Francis Journals, vol. 4(1), pages 1366284-136, January.
    7. Jennifer Kunz & Mathias Heitz, 2021. "Banks’ risk culture and management control systems: A systematic literature review," Journal of Management Control: Zeitschrift für Planung und Unternehmenssteuerung, Springer, vol. 32(4), pages 439-493, December.
    8. Mouna Hazgui & Marion Brivot, 2022. "Debating Ethics or Risks? An Exploratory Study of Audit Partners’ Peer Consultations About Ethics," Journal of Business Ethics, Springer, vol. 175(4), pages 741-758, February.
    9. Andrea Caragliu & Chiara F. Del Bo & Karima Kourtit & Peter Nijkamp, 2016. "The winner takes it all: forward-looking cities and urban innovation," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 56(3), pages 617-645, May.
    10. Leaver, Meghan & Reader, Tom W., 2017. "Safety culture in financial trading: an analysis of trading misconduct investigations," LSE Research Online Documents on Economics 69210, London School of Economics and Political Science, LSE Library.
    11. Christin Richter, 2014. "Development of a Risk Culture Intensity Index to Evaluate the Financial Market in Germany," Proceedings of FIKUSZ '14, in: Pál Michelberger (ed.),Proceedings of FIKUSZ '14, pages 237-248, Óbuda University, Keleti Faculty of Business and Management.

    More about this item

    JEL classification:

    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General

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