Abstract
This chapter is about the relationship between business and risk culture in financial institutions. A conceptual model is elaborated, which links the main lines of research and the relevant variables. There are three categories of business-related determinants of risk culture: structural, contingent and evolutionary factors. The structural variables are embedded in the nature of the business: the activities performed and their embedded risks, the nature and role of customers, the economics of business. The contingent variables are external; they affect different businesses in a different way (e.g. market competitiveness, regulation, organisational systems).The evolutionary variables have contributed to the weakening of the risk culture in all businesses. As an example, the case of “the rise and fall of risk culture in investment banking” is analysed.
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Di Antonio, M. (2017). Risk Culture in Different Bank Businesses. In: Risk Culture in Banking. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-57592-6_3
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DOI: https://doi.org/10.1007/978-3-319-57592-6_3
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