WorldCat Linked Data Explorer

Turtle N-Triple JSON-LD RDF/XML HTML Contact Us Home

http://worldcat.org/entity/work/id/2553498639

The Gordon Gekko effect : the role of culture in the financial industry

Culture is a potent force in shaping individual and group behavior, yet it has received scant attention in the context of financial risk management and the recent financial crisis. I present a brief overview of the role of culture according to psychologists, sociologists, and economists, and then present a specific framework for analyzing culture in the context of financial practices and institutions in which three questions are answered: (1) What is culture?; (2) Does it matter?; and (3) Can it be changed? I illustrate the utility of this framework by applying it to five concrete situations -- Long Term Capital Management; AIG Financial Products; Lehman Brothers and Repo 105; Société Générale's rogue trader; and the SEC and the Madoff Ponzi scheme--and conclude with a proposal to change culture via "behavioral risk management."

Open All Close All

type

about

contributor

creator

description

http://schema.org/description

  • "Culture is a potent force in shaping individual and group behavior, yet it has received scant attention in the context of financial risk management and the recent financial crisis. I present a brief overview of the role of culture according to psychologists, sociologists, and economists, and then present a specific framework for analyzing culture in the context of financial practices and institutions in which three questions are answered: (1) What is culture?; (2) Does it matter?; and (3) Can it be changed? I illustrate the utility of this framework by applying it to five concrete situations-Long Term Capital Management; AIG Financial Products; Lehman Brothers and Repo 105; Société Générale's rogue trader; and the SEC and the Madoff Ponzi scheme-and conclude with a proposal to change culture via "behavioral risk management.""
  • "Culture is a potent force in shaping individual and group behavior, yet it has received scant attention in the context of financial risk management and the recent financial crisis. I present a brief overview of the role of culture according to psychologists, sociologists, and economists, and then present a specific framework for analyzing culture in the context of financial practices and institutions in which three questions are answered: (1) What is culture?; (2) Does it matter?; and (3) Can it be changed? I illustrate the utility of this framework by applying it to five concrete situations -- Long Term Capital Management; AIG Financial Products; Lehman Brothers and Repo 105; Société Générale's rogue trader; and the SEC and the Madoff Ponzi scheme--and conclude with a proposal to change culture via "behavioral risk management.""@en

name

http://schema.org/name

  • "The Gordon Gekko effect : the role of culture in the financial industry"@en
  • "The Gordon Gekko Effect The Role of Culture in the Financial Industry"

workExample