Internally reporting risk in financial services: an empirical analysis

Bryce, C., Chmura, T. ORCID: 0000-0001-7476-2030, Webb, R., Stiebale, J. and Cheevers, C., 2017. Internally reporting risk in financial services: an empirical analysis. Journal of Business Ethics. ISSN 0167-4544

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The enduring failure of financial institutions to identify and deal with risk events continues to have serious repercussions, whether in the form of small but significant losses or major and potentially far-reaching scandals. Using a mixed-methods approach that combines an innovative version of the classic dictator game to inform prosocial tendencies with the survey-based Theory of Planned Behaviour, we examine the risk-escalation behaviour of individuals within a large financial institution. We discover evidence of purely selfish behaviour that explains the lack significance in pressure to adhere to the Subjective Norms of colleagues around intention to report risks. A finding that has potentially important implications for efforts to instil a high-error management climate and incentivise risk reporting within organisations where risk, if ignored or unchecked, could ultimately have consequences that extend far beyond the institutions themselves.

Item Type: Journal article
Publication Title: Journal of Business Ethics
Creators: Bryce, C., Chmura, T., Webb, R., Stiebale, J. and Cheevers, C.
Publisher: Springer
Date: 26 April 2017
ISSN: 0167-4544
3530Publisher Item Identifier
Rights: © The Author(s) 2017.
Divisions: Schools > Nottingham Business School
Record created by: Linda Sullivan
Date Added: 24 Apr 2018 10:08
Last Modified: 24 Apr 2018 10:08

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