This book posits that banks, by conforming to the actions and standards of other banks, actually run high risks. It presents a framework that uses four packages of constructs and organizational logic to understand conformity and deviance within investment banks and other large organizations. Featuring eight case studies of massive risk mismanagement, it walks the reader through the four conceptual perspectives on risk that might explain why and how economic rationality was overridden by social forces. By understanding conformity and deviance, groups within organizations will be better equipped…mehr
This book posits that banks, by conforming to the actions and standards of other banks, actually run high risks. It presents a framework that uses four packages of constructs and organizational logic to understand conformity and deviance within investment banks and other large organizations. Featuring eight case studies of massive risk mismanagement, it walks the reader through the four conceptual perspectives on risk that might explain why and how economic rationality was overridden by social forces. By understanding conformity and deviance, groups within organizations will be better equipped to manage risk and go against the tides of conformity to their advantage.
Gregory B. Vit, Ph.D. is Associate Professor (Clinical) of Strategy and Organization at McGill University's Desautels Faculty of Management where he teaches Strategy, Managing Innovation and Entrepreneurship. Professor Vit's industry experience spans three decades and includes working as Vice President with the Bank of America's Global Corporate and Investment Banking Group where he specialized in international capital raising and corporate finance. He also worked as a financier in sales and structuring at TD Securities Inc.'s Capital Markets and Derivative Products Group Desk. Professor Vit is also director of the Dobson Centre for Entrepreneurial Studies at McGill University where he continues to research and write about entrepreneurial financial fraudsters within large organizations.
Inhaltsangabe
@Selected Contents: Introduction 1. The Problem of Conformity in Financial Organizations 2. The Holistic Risk Management Model-HRMM 3. Institutional Risk management Case 1: The Canadian Banking Paradigm 4. Contrarian Risk Management Case 2: The Parmalat Fraud 5. Evolutionary Risk Management Case 3: The National Bank of Australia Fraud 6. Evolutionary Risk Management Case 4: The Gaspesia Private-Public Partnership Fiasco 7. Contrarian Risk Management Case 5: The UBS Sub-Prime Meltdown Case 6: The SocGen Fraud 8. Conclusions Regarding the Risk in Risk Management
@Selected Contents: Introduction 1. The Problem of Conformity in Financial Organizations 2. The Holistic Risk Management Model-HRMM 3. Institutional Risk management Case 1: The Canadian Banking Paradigm 4. Contrarian Risk Management Case 2: The Parmalat Fraud 5. Evolutionary Risk Management Case 3: The National Bank of Australia Fraud 6. Evolutionary Risk Management Case 4: The Gaspesia Private-Public Partnership Fiasco 7. Contrarian Risk Management Case 5: The UBS Sub-Prime Meltdown Case 6: The SocGen Fraud 8. Conclusions Regarding the Risk in Risk Management
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