Banks’ risk culture and management control systems: A systematic literature review

Journal of Management Control - Tập 32 - Trang 439-493 - 2021
Jennifer Kunz1, Mathias Heitz1
1Chair for Controlling, Augsburg University, Augsburg, Germany

Tóm tắt

Over ten years of a debate about the best ways to make banks safer have led to the conclusion that improving their risk culture is one venue to achieve this goal. Consequently, different disciplines discuss topics related to risk culture from varying methodological angles. This effort of many scholars provides a rich basis of theoretical and empirical evidence to guide business practice and improve regulation. However, the application of many approaches and methods can result in fragmentation and loss of a comprehensive perspective. This paper strives to counteract this fragmentation by providing a comprehensive perspective focusing particularly on the embeddedness of risk culture into banks’ management control systems. In order to achieve this goal, we apply a systematic literature review and interpret the identified findings through the theoretical lens of management control research. This review identifies 103 articles, which can be structured along three categories: Assessment of risk culture, relation between risk culture and management controls (with the subcategories embeddedness of risk culture in overall management control packages, risk culture and cultural controls, risk culture and action controls, risk culture and results controls, as well as risk culture and personnel controls) and development of banks’ risk culture over time. Along these categories the identified findings are interpreted and synthesized to a comprehensive model and consequences for theory, business practice and regulation are derived.

Tài liệu tham khảo

Acrey, J. C., McCumber, W. R., & Nguyen, T. H. T. (2011). CEO incentives and bank risk. Journal of Economics and Business, 63(5), 456–471.

Almandoz, J. (2014). Founding teams as carriers of competing logics: When institutional forces predict banks’ risk exposure. Administrative Science Quarterly, 59(3), 442–473.

Anthony, R. N. (1965). Planning and control systems: A framework for analysis. Harvard University.

Ashraf, B. N., Zheng, C., & Arshad, S. (2016). Effects of national culture on bank risk-taking behavior. Research in International Business and Finance, 37, 309–326.

Australian Prudential Regulation Authority (APRA) (2016). Risk culture. Information paper.

Awrey, D., Blair, W., & Kershaw, D. (2013). Between law and markets: Is there a role for culture and ethics in financial regulation. Delaware Journal Corporate Law, 38, 191.

Balstad, M. T., & Berg, T. (2019). A long-term bibliometric analysis of journals influencing management accounting and control research. Journal of Management Control, 1–24.

Bannier, C. E., Feess, E., & Packham, N. (2013). Competition, bonuses, and risk-taking in the banking industry. Review of Finance, 17(2), 653–690.

Barry, T. A., Lepetit, L., & Tarazi, A. (2011). Ownership structure and risk in publicly held and privately owned banks. Journal of Banking & Finance, 35(5), 1327–1340.

Barry, T. A., Tarazi, A., & Wachtel, P. (2019). Falling under the control of a different type of owner: Risk-taking implications for Banks. Applied Economics, 51(8), 831–847.

Basel Committee for Banking Supervision [BCBS] (2015). Corporate governance principles for banks. Bank for International Settlement. http://www.bis.org/bcbs/publ/d328.htm. Accessed 17 August 2018.

Bebchuk, L. A., Cohen, A., & Spamann, H. (2010). The wages of failure: Executive compensation at Bear Stearns and Lehman 2000–2008. Yale Journal on Regulation, 27, 257.

Bedford, D. S., & Malmi, T. (2015). Configurations of control: An exploratory analysis. Management Accounting Research, 27, 2–26.

Berger, A. N., Imbierowicz, B., & Rauch, C. (2016). The roles of corporate governance in bank failures during the recent financial crisis. Journal of Money, Credit and Banking, 48(4), 729–770.

Berry, A. J., Broadbent, J., & Otley, D. (1995). Approaches to control in the organizational literature. In: Berry, A. J., Broadbent, J., & Otley, D. (eds.). Management Control - Theories, Issues and Practices, Chapter 2, 17–26.

Bhagat, S., & Bolton, B. (2014). Financial crisis and bank executive incentive compensation. Journal of Corporate Finance, 25, 313–341.

Bhagat, S., Bolton, B., & Romano, R. (2014). Getting incentives right: Is deferred bank executive compensation sufficient? Yale Journal on Regulation, 31, 523.

Bisbe, J., & Otley, D. (2004). The effects of the interactive use of management control systems on product innovation. Accounting, Organizations and Society, 29(8), 709–737.

Bolton, P., Mehran, H., & Shapiro, J. (2015). Executive compensation and risk taking. Review of Finance, 19(6), 2139–2181.

Bonner, S. E., Hesford, J. W., Van der Stede, W. A., & Young, S. M. (2006). The most influential journals in academic accounting. Accounting, Organizations and Society, 31(7), 663–685.

Bott, J., & Milkau, U. (2018). Risk culture and the role model of the honorable merchant. Journal of Risk and Financial Management, 11(40), 1–11.

Brown, K., Jha, R., & Pacharn, P. (2015). Ex ante CEO severance pay and risk-taking in the financial services sector. Journal of Banking & Finance, 59, 111–126.

Bruce, J. R. (2014). Risky business: How social psychology can help improve corporate risk management. Business Horizons, 57(4), 551–557.

Bushman, R. M., Davidson, R. H., Dey, A., & Smith, A. (2018). Bank CEO materialism: Risk controls, culture and tail risk. Journal of Accounting and Economics, 65(1), 191–220.

Buyl, T., Boone, C., & Wade, J. B. (2019). CEO narcissism, risk-taking, and resilience: An empirical analysis in US commercial banks. Journal of Management, 45(4), 1372–1400.

Cardinal, L. B., Sitkin, S. B., & Long, C. P. (2010). A configurational theory of control. In S. B. Sitkin, L. B. Cardinal, & K. M. Bijlsma-Frankema (Eds.), Organizational control (pp. 51–79). Cambridge University Press.

Carretta, A., Farina, V., & Schwizer, P. (2017). Risk culture and banking supervision. Journal of Financial Regulation and Compliance, 25(2), 209–226.

Cerasi, V., & Oliviero, T. (2015). CEO compensation, regulation, and risk in banks: Theory and evidence from the financial crisis. International Journal of Central Banking, 11(3), 241–297.

Chen, C. R., Steiner, T. L., & Whyte, A. M. (2006). Does stock option-based executive compensation induce risk-taking? An analysis of the banking industry. Journal of Banking & Finance, 30(3), 915–945.

Cheng, I.-H., & HongScheinkman, H. J. A. (2015). Yesterday´s heroes: Compensation and risk at financial firms. The Journal of Finance, 70(2), 839–879.

Chenhall, R. H. (2003). Management control system design within its organizational context: Findings from contingency-based research and directions for the future. Accounting, Organizations and Society, 28(2–3), 127–168.

Chenhall, R. H. (2005). Integrative strategic performance measurement systems, strategic alignment of manufacturing, learning and strategic outcomes: An exploratory study. Accounting, Organizations and Society, 30(5), 395–422.

Chenhall, R. H., Hall, M., & Smith, D. (2017). The expressive role of performance measurement systems: A field study of a mental health development project. Accounting, Organizations and Society, 63, 60–75.

Cohen, M. S. (2015). Governance as the driver of culture change and risk management. Journal of Risk Management in Financial Institutions, 8(4), 347–357.

Cohn, A., Fehr, E., & Maréchal, M. A. (2014). Business culture and dishonesty in the banking industry. Nature, 516, 86–89.

Cohn, A., Fehr, E., & Maréchal, M. A. (2017). Do professional norms in the banking industry favor risk-taking? The Review of Financial Studies, 30(11), 3801–3823.

Cole, S., Kanz, M., & Klapper, L. (2015). Incentivizing calculated risk-taking: Evidence from an experiment with commercial bank loan officers. Journal of Finance, 70(2), 537–575.

Cordery, C. (2007). NAB´s ‘Annus Horribilis’: Fraud and corporate governance. Australian Accounting Review, 17(2), 62–70.

Cox, P., & Soobiah, D. (2018). An empirical investigation into the corporate culture of UK listed banks. Journal of Financial Regulation and Compliance, 26(1), 120–134.

Dellaportas, S., Cooper, B. J., & Braica, P. (2007). Leadership, culture and employee deceit: The case of the National Australia Bank. Corporate Governance: An International Review, 15(6), 1442–1452.

Drennan, L. T. (2004). Ethics, governance and risk management: Lessons from Mirror Group Newspapers and Barings Bank. Journal of Business Ethics, 52, 257–266.

Drummond, H. (2002). Living in a fool´s paradise: The collapse of Barings Bank. Management Decision, 40(3), 232–238.

Eastburn, R. W., & Sharland, A. (2017). Risk management and managerial mindset. The Journal of Risk Finance, 18(1), 21–47.

European Banking Autority [EBA] (2017). Final Report: Guidelines on internal governance under directive 2013/36/ EU. https://www.eba.europa.eu/documents/10180/1972987/Final+Guidelines+on+Internal+Governance+%28EBA-GL-2017-11%29.pdf. Accessed 24 April 2018.

Fahlenbrach, R., & Stulz, R. M. (2011). Bank CEO incentives and the credit crisis. Journal of Financial Economics, 99(1), 11–26.

Fichter, R. (2018). Do the right thing! Developing ethical behavior in financial institutions. Journal of Business Ethics, 151(1), 69–84.

Financial Stability Board [FSB] (2014). Guidance on supervisory interaction with financial institutions on risk culture. A Framework for Assessing Risk Culture. http://www.fsb.org/2014/04/140407/. Accessed 26 April 2018.

Fortin, R., Goldberg, G. M., & Roth, G. (2010). Bank risk taking at the onset of the current banking crisis. Financial Review, 45(4), 891–913.

Fritz-Morgenthal, S., Hellmuth, J., & Packham, N. (2016). Does risk culture matter? The relationship between risk culture indicators and stress test results. Journal of Risk Management in Financial Institutions, 9(1), 71–84.

Furlong, W., Crossan, M., Gandz, J., & Crossan, L. (2017). Character’s essential role in addressing misconduct in financial institutions. Business Law International, 18(3), 199–223.

Galbraith, J. R. (1973). Designing complex organizations. Addison Wesley.

Gande, A., & Kalpathy, S. (2017). CEO compensation and risk-taking at financial firms: Evidence from U.S. federal loan assistance. Journal of Corporate Finance, 47, 131–150.

Ganon, M. W., Donegan, J., & Rotondo, G. (2017). Embedding values in corporate culture: Applying Schein´s organizational theory to Lehman Brothers. International Journal of Business & Applied Sciences, 6(1), 20–33.

García-Romero, A., Santín, D., & Sicilia, G. (2016). Another brick in the wall: A new ranking of academic journals in Economics using FDH. Scientometrics, 107(1), 91–101.

Gendron, Y., Brivot, M., & Guénin-Paracini, H. (2016). The construction of risk management credibility within corporate boardrooms. European Accounting Review, 25(3), 549–578.

Gontarek, W. (2016). Risk governance of financial institutions: The growing importance of risk appetite and culture. Journal of Risk Management in Financial Institutions, 9(2), 120–129.

Gooneratne, T. N., & Hoque, Z. (2013). Management control research in the banking sector: A critical review and directions for future research. Qualitative Research in Accounting & Management, 10(2), 144–171.

Grabner, I., & Moers, F. (2013). Management control as a system or a package? Conceptual and empirical issues. Accounting, Organizations and Society, 38(6–7), 407–419.

Griffin, D., & Varey, C. A. (1996). Towards a consensus on overconfidence. Organizational Behavior and Human Decision Processes, 65(3), 227–231.

Guo, L., Jalal, A., & Khaksari, S. (2015). Bank executive compensation structure, risk taking and the financial crisis. Review of Quantitative Finance and Accounting, 45(3), 609–639.

Hagendorff, J., & Vallascas, F. (2011). CEO pay incentives and risk-taking: Evidence from bank acquisitions. Journal of Corporate Finance, 17(4), 1078–1095.

Hambrick, D. C. (2007). Upper Echelons Theory: An update. The Academy of Management Review, 32(2), 334–343.

Handorf, W. C. (2015). Bank risk management, regulation and CEO compensation after the Panic of 2008. Journal of Banking Regulation, 16(1), 39–50.

Harzing, A. W. (2018). Journal quality list. https://harzing.com/resources/journal-quality-list. Accessed 24 January 2018.

Hashagen, J., Harman, N., Conover, M., & Sharma, J. (2009). Risk management in banking: Beyond the credit crisis. The Journal of Structured Finance, 15(1), 92–103.

Hirshleifer, D., Low, A., & Teoh, S. H. (2012). Are overconfident CEOs better innovators? The Journal of Finance, 67(4), 1457–1498.

Holland, J. (2010). Banks, knowledge and crisis: A case of knowledge and learning failure. Journal of Financial Regulation and Compliance, 18(2), 87–105.

Holland, J. (2019). Bank top management teams, disclosure, learning, survival and failure – 1990–2017. Qualitative Research in Financial Markets, 11(1), 31–59.

Houston, J. F., & James, C. (1995). CEO compensation and bank risk: Is compensation in banking structured to promote risk taking? Journal of Monetary Economics, 36(2), 405–431.

Iannotta, G., Nocera, G., & Sironi, A. (2007). Ownership structure, risk and performance in the European banking industry. Journal of Banking & Finance, 31(7), 2127–2149.

Illiashenko, P., & Laidroo, L. (2020). National culture and bank risk-taking: Contradictory case of individualism. Research in International Business and Finance. https://doi.org/10.1016/j.ribaf.2019.101069

Institute of International Finance [IIF] (2009). Reform in the financial services industry: Strengthening practices for a more stable system: The report of the IIF steering committee on implementation.

Institute of Risk Management [IRM] (2012). Risk culture. Under the microscope. Guidance for boards.

Iqbal, J., & Vähämaa, S. (2019). Managerial risk-taking incentives and the systemic risk of financial institutions. Review of Quantitative Finance and Accounting, 53(4), 1229–1258.

Jackson, P. (2015). Understanding risk culture and its challenges. Banking Perspective, 2, 48–54.

John, K., Saunders, A., & Senbet, L. W. (2000). A theory of bank regulation and management compensation. The Review of Financial Studies, 13(1), 95–125.

Kanagaretnam, K., Lim, C. Y., & Lobo, G. J. (2014). Influence of national culture on accounting conservatism and risk-taking in the banking industry. The Accounting Review, 89(3), 1115–1149.

Kanagaretnam, K., Lobo, G. J., Wang, C., & Whalen, D. J. (2019). Cross-country evidence on the relationship between societal trust and risk-taking by banks. Journal of Financial and Quantitative Analysis, 3, 54(1), 275–301.

Kane, E. J. (2016). A theory of how and why Central-Bank culture supports predatory risk-taking at megabanks. Atlantic Economic Journal, 44(1), 51–71.

Kaplan, R. S., & Norton, D. P. (1992). The balanced scorecard – Measures that drive performance. Harvard Business Review, 70(1), 71–79.

Kolm, J., Laux, C., & Lóránth, G. (2016). Bank regulation, CEO compensation, and boards. Review of Finance, 21(5), 1901–1932.

Kwan, S. H. (2004). Risk and return of publicly held versus privately owned banks. Economic Policy Review, 10(2), 97–107.

LaBriola, J. (2019). Risky Business: Institutional logics and risk taking at large U.S. commercial banks. Social Science Quarterly, 100(1), 389–404.

Lawrence, P. R., & Lorsch, J. W. (1967). Organization and environment. Harvard University.

Liff, R., & Wahlström, G. (2018). Usefulness of enterprise risk management in two banks. Quantitative Research in Accounting & Management, 15(1), 124–150.

Lim, C. Y., Woods, M., Humphrey, C., & Seow, J. L. (2017). The paradoxes of risk management in the banking sector. The British Accounting Review, 49(1), 75–90.

Llewellyn, D. T. (2014). Reforming the culture of banking: Restoring trust and confidence in banking. Journal of Financial Management, Markets and Institutions, 2(2), 221–235.

Lo, A. W. (2016). The Gordon Gekko Effect: The role of culture in the financial industry. Economic Policy Review, 22(1), 17–42.

Lui, A. (2015). Greed, recklessness and/or dishonesty? An investigation into the culture of five UK banks between 2004 and 2009. Journal of Banking Regulation, 16(2), 106–129.

Malmi, T., & Brown, D. A. (2008). Management control systems as a package – Opportunities, challenges and research directions. Management Accounting Research, 19(4), 287–300.

McConnell, P. J. (2013). A risk culture framework for systemically important banks. Journal of Risk and Governance, 3(1), 24–68.

McConnell, P. J. (2014). Strategic risk management – A tale of two strategies. Journal of Risk and Governance, 3(2), 1–11.

Merchant, K. A., & Van der Stede, W. A. (2017). Management control systems: Performance measurement, evaluation and incentives. (4th), FT Prentice Hall, Harlow.

Mihet, R. (2013). Effects of culture on firm risk-taking: A cross-country and cross-industry analysis. Journal of Cultural Economics, 37(1), 109–151.

Mikes, A. (2009). Risk management and calculative cultures. Management Accounting Research, 20(1), 18–40.

Mikes, A. (2011). From counting risk to making risk count: Boundary-work in risk management. Accounting, Organizations and Society, 36(4–5), 226–245.

Minhat, M., & Abdullah, M. (2016). Bankers’ stock options, risk-taking and the financial crisis. Journal of Financial Stability, 22, 121–128.

Minto, A. (2016). The spirit of the law over its letter: The role of culture and social norms in shielding cooperative banks from systemic shocks. Law and Financial Markets Review, 10(1), 16–26.

Mongiardino, A., & Plath, C. (2010). Risk governance at large banks: Have any lessons been learned? Journal of Risk Management in Financial Institutions, 3(2), 116–123.

Mourouzidou-Damtsa, S., Milidonis, A., & Stathopoulos, K. (2019). National culture and bank risk-taking. Journal of Financial Stability, 40, 132–143.

Mundy, J. (2010). Creating dynamic tensions through a balanced use of management control systems. Accounting, Organizations and Society, 35(5), 499–523.

Muñiz, B. F., Montes Peón, J. M., & Vázquez Ordás, C. J. (2020). Misconduct and risk climate in banking: Development of a multidimensional measurement scale. Global Policy, 11(1), 73–83.

Nguyen, D. D., Nguyen, L., & Sila, V. (2019). Does corporate culture affect bank risk-taking? Evidence from loan-level data. British Journal of Management, 30, 106–133.

Palermo, T., Power, M., & Ashby, S. (2017). Navigating institutional complexity: The production of risk culture in the financial sector. Journal of Management Studies, 54(2), 154–181.

Palvia, A., Vähämaa, E., & Vähämaa, S. (2015). Are female CEOs and chairwomen more conservative and risk averse? Evidence from the banking industry during the financial crisis. Journal of Business Ethics, 131(3), 577–594.

Pan, Y., Siegel, S., & Wang, T. Y. (2017). Corporate risk culture. Journal of Financial and Quantitative Analysis, 52(6), 2327–2367.

Perrow, C. B. (1970). Organizational analysis: A sociological view. Tavistock.

Power, M. (2009). The risk management of nothing. Accounting, Organizations and Society, 34(6–7), 849–855.

Power, M., Ashby, S., & Palermo, T. (2013). Risk culture in financial organisations: CARR-analysis of risk and regulation. A research report. London School of Economics, London.

Quinn, R. E., & Rohrbaugh, J. (1983). A spatial model of effectiveness criteria: Towards a competing values approach to organizational analysis. Management Science, 29(3), 363–377.

Rad, A. (2016). Risk management-control system interplay: Case studies of two banks. Journal of Accounting & Organizational Change, 12(4), 522–546.

Rattaggi, M. L. (2017). Regulatory reform in banking 10 years after the financial crisis. Journal of Risk Management in Financial Institutions, 10(3), 296–302.

Ritzberger, K. (2008). A ranking of journals in economics and related fields. German Economic Review, 9(4), 402–430.

Roy, A. (2008). Organization structure and risk taking in banking. Risk Management, 10(2), 122–134.

Saunders, A., Strock, E., & Travlos, N. G. (1990). Ownership structure, deregulation, and bank risk taking. The Journal of Finance, 45(2), 643–654.

Schäffer, U., Nevries, P., Fikus, C., & Meyer, M. (2011). Is finance research a “normal science”? A bibliometric study of the structure and development of finance research from 1988 to 2007. Schmalenbach Business Review, 63(2), 189–225.

Schein, E. H. (1990). Organizational culture. American Psychologist, 45(2), 109–119.

Schein, E. H. (2010). Organizational culture and leadership. Jossey-Bass.

Schnatterly, K., Clark, B. B., Howe, J., & DeVaughn, M. L. (2019). Regulatory and governance impacts on bank risk-taking. Risk Management, 21(2), 99–122.

Schneider, B., Ehrhart, M. G., & Macey, W. H. (2013). Organizational climate and culture. Annual Review of Psychology, 64, 361–388.

Sheedy, E. (2016). Risk culture in Australian banks: Does size matter? JASSA, 4, 4–10.

Sheedy, E., & Griffin, B. (2018). Risk governance, structures, culture, and behavior: A view from the inside. Corporate Governance: An International Review, 26(1), 4–22.

Sheedy, E. A., Griffin, B., & Barbour, J. P. (2017). A framework and measure for examining risk climate in financial institutions. Journal of Business and Psychology, 32(1), 101–116.

Sheedy, E., Zhang, L., & Tam, K. C. H. (2019). Incentives and culture in risk compliance. Journal of Banking & Finance. https://doi.org/10.1016/j.jbankfin.2019.105611

Sinha, V. K., & Arena, M. (2018). Manifold conceptions of the internal auditing of risk culture in the financial sector. Journal of Business Ethics, 1–22.

Sleesman, D. J., Conlon, D. E., McNamara, G., & Miles, J. E. (2012). Cleaning up the big muddy: A meta-analytic review of the determinants of escalation of commitment. Academy of Management Journal, 55(3), 541–562.

Sleesman, D. J., Lennard, A. C., McNamara, G., & Conlon, D. E. (2018). Putting escalation of commitment in a context: A multilevel review and analysis. Academy of Management Annals, 12(1), 178–207.

Srivastav, A., & Hagendorff, J. (2016). Corporate governance and bank risk-taking. Corporate Governance: An International Review, 24(3), 334–345.

Staw, B. M. (1976). Knee-deep in the big muddy: A study of escalating commitment to a chosen course of action. Organizational Behavior and Human Performance, 16(1), 27–44.

Staw, B. M. (1981). The escalation of commitment to a course of action. Academy of Management Review, 6(4), 577–587.

Staw, B. M., & Fox, F. V. (1977). Escalation: The determinants of commitment to a chosen course of action. Human Relations, 30(5), 431–450.

Stein, M. (2000). The risk taker as shadow: A psychoanalytic view of the collapse of Barings Bank. Journal of Management Studies, 37(8), 1215–1229.

Stonham, P. (1996a). Whatever happened at Barings? Part one: The lure of derivatives and collapse. European Management Journal, 14(2), 167–175.

Stonham, P. (1996b). Whatever happened at Barings? Part two: Unauthorised trading and the failure of controls. European Management Journal, 14(3), 269–278.

Stulz, R. M. (2008). Risk management failures: What are they and when do they happen? Journal of Applied Corporate Finance, 20(4), 39–48.

Stulz, R. M. (2015). Risk-taking and risk management by banks. Journal of Applied Corporate Finance, 27(1), 8–18.

Stulz, R. M. (2016). Risk management, governance, culture, and risk taking in banks. Economic Policy Review, 22(1), 43–59.

Sullivan, R. J., & Spong, K. R. (2007). Manager wealth concentration, ownership structure, and risk in commercial banks. Journal of Financial Intermediation, 16(2), 229–248.

Thakor, A. (2016). Corporate culture in banking. Economic Policy Review, 22(1), 5–16.

Thanassoulis, J. (2012). The case for intervening in bankers’ pay. The Journal of Finance, 67(3), 849–895.

Thompson, J. D. (1967). Organizations in action: Social science bases of administrative theory. McGraw-Hill.

Tranfield, D., Denyer, D., & Smart, P. (2003). Towards a methodology for developing evidence-informed management knowledge by means of systematic review. British Journal of Management, 14(3), 207–222.

Wahlström, G. (2009). Risk management versus operational action: Basel II in a Swedish context. Management Accounting Research, 20(1), 53–68.

Walter, S., & Narring, F. (2020). How can supervisors and banks promote a culture of strong governance and ethical behavior? Journal of Risk Management in Financial Institutions, 13(2), 145–154.

Webster, J., & Watson, R. T. (2002). Analysing the past to prepare for the future: Writing a literature review. MIS Quarterly 26(2), xiii-xxiii.

Wood, A., & Lewis, A. (2018). Risk culture development and its impact: The case of the Caribbean Development Bank. International Journal of Business and Economic Development, 6(1), 18–37.

Young, B. (2011). Leadership and high-reliability organizations: Why banks fail. The Journal of Operational Risk, 6(4), 67–87.

Yusuf, I. A., Amadi, A. N., & Salaudeen, M. B. (2020). Effects of risk culture and appetite on effective risk management in Nigerian banks: Case study of United Bank for Africa Plc. Academic Journal of Economic Studies, 6(2), 81–87.

Zalewska, A. (2016). A new look at regulating bankers’ remuneration. Corporate Governance: An International Review, 24(3), 322–333.

Thông tin
Thông tin xuất bản

Journal of Management Control

Tập 32

439-493

Thông tin tác giả