Risk Culture and the Role Model of the Honorable Merchant

  title={Risk Culture and the Role Model of the Honorable Merchant},
  author={J{\"u}rgen Bott and Udo Milkau},
The current discussion about a “risk culture” in financial services was triggered by the recent series of financial crises. The last decade saw a long list of hubris, misconduct and criminal activities by human beings on a single or even a collective basis in banks, in the industry or in the whole economy. As a counter-reaction, financial authorities called for a guidance by a “new” risk culture in financial institutions based on a set of abstract, formal, and normative governance processes… CONTINUE READING
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