Safety Culture in Financial Trading: An Analysis of Trading Misconduct Investigations
High-profile failures in financial trading have led to interest in how the culture of the industry produces risky and unethical behaviours among traders. Yet, there is no established theoretical framework for studying this: we apply safety culture theory to examine ten recent high-profile trading mi...
| Κύριος συγγραφέας: | |
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| Άλλοι συγγραφείς: | |
| Τύπος μέσου: | Ηλεκτρονική πηγή Άρθρο |
| Γλώσσα: | Αγγλικά |
| Έλεγχος διαθεσιμότητας: | HBZ Gateway |
| Journals Online & Print: | Φόρτωση...
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| Interlibrary Loan: | Interlibrary Loan for the Fachinformationsdienste (Specialized Information Services in Germany) |
| Έκδοση: |
2019
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| Στο/Στη: |
Journal of business ethics
Έτος: 2019, Τόμος: 154, Τεύχος: 2, Σελίδες: 461-481 |
| Άλλες λέξεις-κλειδιά: | B
Culture measurement
B Financial trading B Ρύθμιση B Risk-taking B Safety culture B Failure |
| Διαθέσιμο Online: |
Volltext (kostenfrei) |
| Σύνοψη: | High-profile failures in financial trading have led to interest in how the culture of the industry produces risky and unethical behaviours among traders. Yet, there is no established theoretical framework for studying this: we apply safety culture theory to examine ten recent high-profile trading mishaps investigated by the UK financial regulator. The results show that the dimensions of safety culture (e.g. Management Commitment to Safety, Systems and procedures) used to understand organisational accidents in domains such as aviation also explain failures in Risk Management within financial trading organisations. This counters narratives focusing on traders who are unethical ‘rule breakers’, and emphasises the value of a systemic approach, whereby safety culture theory is used to explain why risky behaviours in financial trading occur. Safety culture therefore provides a conceptual basis for further research on risky and unethical behaviours in financial trading, alongside providing insights for possible intervention. |
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| ISSN: | 1573-0697 |
| Περιλαμβάνει: | Enthalten in: Journal of business ethics
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| Persistent identifiers: | DOI: 10.1007/s10551-017-3463-0 |