EconPapers    
Economics at your fingertips  
 

Evidence on post-financial crisis corporate culture in UK listed banks

Paul Cox () and Diandra Soobiah ()
Additional contact information
Paul Cox: University of Birmingham
Diandra Soobiah: National Employment Savings Trust

Journal of Banking Regulation, 2018, vol. 19, issue 2, 149-159

Abstract: Abstract This paper reports findings from investor engagement into corporate culture at UK listed banks. In 2014 and 2015 interviews with bank practitioners revealed the following seven elements as fundamental to improving bank culture; simplification of the business, corporate purpose, organisational culture, staff in the business, customer experience, board balance, and focus and engagement by the Chair of the board. The study designed baselines to capture where banks are in absolute and relative terms in relation to the seven elements. Culture performance over the 24 months of the study was examined. Banks that made most improvement during the investigation activated culture predominantly within the business by empowering the department most apt to handle it. Centring the culture programme within the business was associated with a focus on the middle and the grassroots level of the organisation. Banks that made least improvement activated culture principally ‘from the top’. Centring the culture programme at the top was associated with a focus on control, conformance, and structure. The finding of relatively greater performance when culture programmes were activated within the business contrasts sharply with recommendations from regulators and conventional wisdom that the establishment of corporate culture is necessarily a top-down exercise.

Keywords: Banks; Conduct; Culture; Metrics; Measures; Investment management; Pension funds (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed

Downloads: (external link)
http://link.springer.com/10.1057/s41261-017-0042-3 Abstract (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:jbkreg:v:19:y:2018:i:2:d:10.1057_s41261-017-0042-3

Ordering information: This journal article can be ordered from
http://www.springer.com/finance/journal/41261/PS2

Access Statistics for this article

Journal of Banking Regulation is currently edited by Dalvinder Singh

More articles in Journal of Banking Regulation from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla ().

 
Page updated 2018-06-23
Handle: RePEc:pal:jbkreg:v:19:y:2018:i:2:d:10.1057_s41261-017-0042-3