The Politics of Financial Risk, Audit and Regulation

A Case Study of HBOS

Business & Finance, Business Reference, Business Law, Business Ethics
Cover of the book The Politics of Financial Risk, Audit and Regulation by Atul K. Shah, Taylor and Francis
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Atul K. Shah ISBN: 9781351857079
Publisher: Taylor and Francis Publication: August 8, 2017
Imprint: Routledge Language: English
Author: Atul K. Shah
ISBN: 9781351857079
Publisher: Taylor and Francis
Publication: August 8, 2017
Imprint: Routledge
Language: English

The biggest corporate failure ever in British history occurred in 2008 with very little forewarning. The management of HBOS, a major national bank with a long history of prudence prior to the merger in 2001, were allowed to act incompetently. Auditors and regulators failed to act, ignoring a key senior whistleblower, and the ‘competitive’ stock market failed to spot management failure in time.

This book is the first academic study of this collapse, uncovering some surprising evidence on the power and politics of large financial institutions. It details the processes and degrees to which financial challenge and regulation are undermined by this power. The research exposes a pro-active process of regulatory risk management by these institutions; the ease with which auditors and regulators can be captured; and how politicians and investors can be all too happy to hop on the stock market and management spin ride – with other people’s money. The study questions the ideology and politics which supported and encouraged the management hubris, raising profound questions about the ‘politics’ of the academic disciplines of banking, finance and accounting today, and the theories they underpin.

This account of management gone wrong is essential reading for students, researchers and professionals involved in banking, finance, credit infrastructure, economics and management studies.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

The biggest corporate failure ever in British history occurred in 2008 with very little forewarning. The management of HBOS, a major national bank with a long history of prudence prior to the merger in 2001, were allowed to act incompetently. Auditors and regulators failed to act, ignoring a key senior whistleblower, and the ‘competitive’ stock market failed to spot management failure in time.

This book is the first academic study of this collapse, uncovering some surprising evidence on the power and politics of large financial institutions. It details the processes and degrees to which financial challenge and regulation are undermined by this power. The research exposes a pro-active process of regulatory risk management by these institutions; the ease with which auditors and regulators can be captured; and how politicians and investors can be all too happy to hop on the stock market and management spin ride – with other people’s money. The study questions the ideology and politics which supported and encouraged the management hubris, raising profound questions about the ‘politics’ of the academic disciplines of banking, finance and accounting today, and the theories they underpin.

This account of management gone wrong is essential reading for students, researchers and professionals involved in banking, finance, credit infrastructure, economics and management studies.

More books from Taylor and Francis

Cover of the book Business Cycles and Depressions by Atul K. Shah
Cover of the book British Generalship during the Great War by Atul K. Shah
Cover of the book Self-Reflexive Journalism by Atul K. Shah
Cover of the book The Formation of Islamic Law by Atul K. Shah
Cover of the book Law and Society in East Asia by Atul K. Shah
Cover of the book Explaining Science's Success by Atul K. Shah
Cover of the book Contested Sudan by Atul K. Shah
Cover of the book Synoptic and Dynamic Climatology by Atul K. Shah
Cover of the book Dying Empire by Atul K. Shah
Cover of the book A Fair Day’s Wage for a Fair Day’s Work? by Atul K. Shah
Cover of the book Recipes for Science by Atul K. Shah
Cover of the book Globalization: Causes and Effects by Atul K. Shah
Cover of the book Routledge Philosophy GuideBook to Frege on Sense and Reference by Atul K. Shah
Cover of the book Giordano Bruno and the Geometry of Language by Atul K. Shah
Cover of the book The Author by Atul K. Shah
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy