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Article
Publication date: 23 November 2016

Cristina Vladu, Andrei Novac, Adrian Preda and Robert G. Bota

275

Abstract

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Mental Illness, vol. 8 no. 2
Type: Research Article
ISSN: 2036-7465

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Article
Publication date: 2 February 2015

Jim Rooney and Suresh Cuganesan

The purpose of this study is to examine how managers in financial institutions satisfy themselves of the effectiveness of risk mitigation strategy and management control. It…

2382

Abstract

Purpose

The purpose of this study is to examine how managers in financial institutions satisfy themselves of the effectiveness of risk mitigation strategy and management control. It studies the co-opting of accounting tools within a single financial institution case study, examining the recursive and emergent characteristics of risk management practice.

Design/methodology/approach

Adopting a field study approach within the strategy-as-practice perspective, the paper provides insights into the role of actor perceptions of risk and accounting as a calculative practice in the adaptive enactment of risk strategy.

Findings

Results highlight the interactions between risk management strategy, management controls and actor interests at Lehman Brothers. The actions and reactions of risk management decision-makers such as Executive Committee and Board members are examined to better understand the role of accounting and leadership.

Research limitations/implications

Results of this study may not be generalised beyond this single case study.

Practical implications

The paper emphasises that concern for the social relations and the performative interests of actors in a risk management network needs to be understood and considered in accounting research. It is argued that the market prices of tradable financial asset will continue to be opaque without these insights.

Originality/value

This study explores an under-researched topic in the accounting literature in examining how management controls are affected by and, in turn, affect risk strategising.

Details

Managerial Auditing Journal, vol. 30 no. 2
Type: Research Article
ISSN: 0268-6902

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Article
Publication date: 1 December 2005

L.A.A. Van den Berghe and Tom Baelden

Throughout the world, reform initiatives have been set up to fix perceived and actual corporate governance shortcomings. One of the proposed remedies has been to improve the

6240

Abstract

Purpose

Throughout the world, reform initiatives have been set up to fix perceived and actual corporate governance shortcomings. One of the proposed remedies has been to improve the independence of the board of directors. The main purpose of this paper is to examine the issue of independence as one element to improve board effectiveness. In doing this, the focus is mainly on the monitoring role, and to a lesser extent on the strategic role of the board of directors.

Design/methodology/approach

A comparison of the definitions of independence provided by the corporate governance codes and recommendations reveals that they approach the concept of independence mainly from a formal point of view, where independence equals being in a position free of any possible conflicts of interest. It is stated that this approach does not capture all the aspects of independence and that independence cannot be an end in itself. Instead of emphasising independence, the paper hypothesises that, to ensure board effectiveness, a board of directors is needed which, among other things, vigilantly monitors the company and pursues an objective decision‐making process.

Findings

Without neglecting the importance of other elements in achieving this two‐fold goal, the paper highlights the need for directors to have the “right attitude”. To achieve this, three conditions have to be jointly fulfilled: each director should have the ability as well as the willingness to be a critical thinker, with an independent mind, however, the environment should also be such as to facilitate directors to display this attitude.

Originality/value

These three factors – ability, willingness and environment – are discussed in depth and integrated into a tentative framework for evaluating the chance that a given director will display this attitude. As such, this paper is of value both for practitioners as academics and will mostly affect their understanding of the concept of independence.

Details

Corporate Governance: The international journal of business in society, vol. 5 no. 5
Type: Research Article
ISSN: 1472-0701

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