The Risk of Risk Management Systems

Banks take very large risks by consistently herding in the same perilous directions while believing they are safe and unique. This book presents a risk management framework to understand conformity and deviance within investment banks and other large organizations. It suggests that some groups understand the dynamics of this conformity to their advantage. This requires a deeper understanding of the risk in risk management. Fraudsters can game the system to their advantage legally and illegally; therefore risk managers must understand the interplay of multiple logics in order to govern and m

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Year of publication:	2013
Authors:	Vit, Gregory B.
Publisher:	Hoboken : Taylor and Francis
Subject:	Finanzdienstleistung \| Financial services \| Risikomanagement \| Risk management \| Bankrisiko \| Bank risk
Description of contents:	Table of Contents [external.dandelon.com]

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Extent:	Online-Ressource (160 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	Description based upon print version of record Cover; Half Title; Title Page; Copyright Page; Dedication; Table of Contents; Foreword; Acknowledgments; 1. The Problem of Conformity in Financial Organizations; Retrospective and Prospective Explanations; The Override of Numbers: A Dynamic View; Two Events: Social Override of Numbers and Crash; Cheerleaders and Models; 2. The Holistic Risk Management Model (HRMM): Understanding Multiple Logics: Economic, Social and Ideological; Alternative Risk Management Models; Conclusion; 3. Institutional Risk Management: Case 1: The Canadian Banking Paradigm; Chapter Summary Financial Service Industry Mismanagement: Institutionalization and Conformist StrategyThe Institutional Fortress Model of Mismanagement; The Canadian Banking Institutional Fortress: A Financial Services Industry Application; Further Defenses: Institutional Arrangements and Norms Within the Canadian Banking Industry; The Canadian Bankers' Association; Favorable Legislation; Favorable Informal Norms; Implications for Financial Services Industry Mismanagement; External Factors; Internal Factors; Conclusion; 4. Contrarian Risk Management and Fraud: Case 2: The Parmalat Fraud; Chapter Summary Multiple Logics of Conformity and Contrarianism: The Problem with Investment Banks and BankersThe Problem of Conformity; Paramalat: "Collective Madness of Banks"; Common Appreciative Systems Within Investment Banks; Institutional Theory: Organizational Field and Appreciative System Conformity; Configuration Theory: Configurations and Appreciative System Conformity; Financial Mania Theory: Conformity within the Bubble Phase of a Financial Mania; Enfolding Financial Mania Theory into Institutional and Configurational Logics; Conclusion 5. Evolutionary Risk Management: Case 3: The National Australia Bank FraudChapter Summary; Introduction; The Eco-logical View; The Socio-logical View; The Ideo-logical View; Organizational Conformity andContrarianism: An Appreciative Systemof Eco-logics, Socio-logics and Ideo-logics; Contrarian and Conformist Appreciative Systems and Risk; Implications for Governance Theorists and Practitioners; 6. Evolutionary Risk Management: Case 4: The Gaspesia Project Fiasco; Chapter Summary; The Gaspesia Project Failure; Prior Research on Project Escalation of Commitment; Method Historical Background: The Chandler Gaspe Mill, Quebec, CanadaThe Gaspesia Mega-project Mega-failure; The Three Logics; Rational Risk Management; Eco-logic Deviation No. 1: No Arms-Length Deep-Pocketed Private Sector Project Sponsor(s); Eco-logic Deviation No. 2: Unproven Technology; Eco-logic Deviation No. 3: Midstream Change of Project Scope and Project Engineers; Evolutionary Risk Management; Institutional Risk Management; Judicious Risk Management; Discussion; Conclusion; 7. Contrarian Risk Management: Case 5: The UBS Sub-prime Meltdown and Case 6: The Société Générale Fraud Chapter Summary Cover; Half Title; Title Page ; Copyright Page; Dedication; Table of Contents; Foreword; Acknowledgments; 1. The Problem of Conformity in Financial Organizations; Retrospective and Prospective Explanations; The Override of Numbers: A Dynamic View; Two Events: Social Override of Numbers and Crash; Cheerleaders and Models; 2. The Holistic Risk Management Model (HRMM): Understanding Multiple Logics: Economic, Social and Ideological; Alternative Risk Management Models; Conclusion; 3. Institutional Risk Management: Case 1: The Canadian Banking Paradigm; Chapter Summary
ISBN:	978-0-415-50984-8 ; 978-0-415-50985-5 ; 978-1-136-44596-5 ; 978-0-415-50984-8
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011829148