Behind the Scenes — Management, Risk and Compliance

Jesper Blomberg, Hans Kjellberg and Karin Winroth
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Jesper Blomberg: Stockholm School of Economics
Hans Kjellberg: Stockholm School of Economics
Karin Winroth: Södertörn University

Chapter 8 in Marketing Shares, Sharing Markets, 2012, pp 156-180 from Palgrave Macmillan

Abstract: Abstract In previous chapters, representatives of the four expert groups have often described themselves as entrepreneurs, suggesting that their work is like having ‘a business of their own, within the business’. The image they convey is one of competent professionals being given considerable leeway concerning how to plan and conduct their work. The focus is said to be on delivering (financial) results rather than on following specific procedures. They also suggest that this state of affairs is conducive to high performance in situations where you need to respond quickly and flexibly to external changes and adjust to the specific needs of your clients. As part of this characterization, managerial activity is regularly downplayed, for example: ‘as long as we deliver, they do not interfere’. This description of investment banking practices is hardly unique for our study and has led some observers to characterize investment banks as ‘self-designing organizations’, emphasizing the entrepreneurial facet of the experts’ work (e.g. Eccles and Crane, 1988).

Keywords: Risk Manager; Credit Risk; Investment Banking; Compliance Function; Bonus System (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-36162-1_8

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DOI: 10.1057/9780230361621_8

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