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 New ESRC research unveiled at Henley Business School reveals Financial Sector wants to change its governance culture- New ESRC research unveiled at Henley Business School reveals Financial Sector wants to change its governance culture
- November 19, 2010
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An innovative research project funded by the Economic and Social Research Council (ESRC) today announced its results at the annual Henley Reputation Conference. The 15 month 'Governance Beyond the Boardroom' project found that financial sector workers themselves want a change of governance culture to avoid another credit crunch and return the sector to economic prosperity.
Based on new theoretical modelling, 21 in-depth interviews with financial sector workers from Chairmen of major banks to traders, and two seminars with leading academics and practitioners, the project's key findings were:
1. The role of the subagent (i.e. an employee outside the boardroom) is vital in understanding why the existing regulatory structure failed to prevent the disasters at Northern Rock, RBS, HBoS, and other banks in the period 2007-9.
2. There are 10 drivers of governance cu...
- View more at: http://www.1888pressrelease.com/new-esrc-research-unveiled-at-henley-business-school-reveals-pr-257620.html
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