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Appears in Collections:Accounting and Finance Journal Articles
Peer Review Status: Refereed
Title: Internally Reporting Risk in Financial Services: An Empirical Analysis
Author(s): Bryce, Cormac
Chmura, Thorsten
Webb, Rob
Stiebale, Joel
Cheevers, Carly
Keywords: Risk escalation
Dictator game
Error management climate
Issue Date: May-2019
Citation: Bryce C, Chmura T, Webb R, Stiebale J & Cheevers C (2019) Internally Reporting Risk in Financial Services: An Empirical Analysis. Journal of Business Ethics, 156 (2), pp. 493-512.
Abstract: 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.
DOI Link: 10.1007/s10551-017-3530-6
Rights: © The Author(s) 2017 This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (, which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made.
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