For two decades, risk management has been gaining ground in banking, despite a series of corporate failures, large-scale losses, regional crises, and a worldwide financial crisis that have been cast as risk-management failures. Power (2004a) explained this with his model of the cyclical...

In this study, we examine transformations in the influence of risk managers in two large UK banks over a period of six years. Our analysis highlights that a process we term toolmaking, whereby experts create, articulate and shape tools that embody their expertise, is central to the way in which...

This case enables students to simulate a risk management workshop based on the description of an innovative capital project in the energy sector. Students will discuss, assess, and vote on the riskiness of the Smart Meters project and experience the dynamics of a risk workshop.Learning...

Enterprise risk management (ERM) has recently emerged as a widespread practice in financial institutions. It has been increasingly codified and encrypted into regulatory, corporate governance and organisational management blueprints. A burgeoning literature of regulatory and practitioner texts...

Making sense of operational risk practices in the financial services sector is a challenge. There is a temptation to explain the wide variety of approaches as a characteristic of the early stage of development in which the genre resides. Based on the evidence of three case studies, this paper...

Governments, investors, and consumers have stepped up pressure on publicly listed companies to face up to climate risks and to reduce carbon emissions. At the same time, the pressure to deliver financial results remains strong. Based on research on 19 European carbon-intensive corporations in...