| Description |
1 online resource : text file, PDF |
| Contents |
Cover; Half Title; Title Page; Copyright Page; Dedication; Table of Contents; Foreword; Acknowledgements; 1. Introduction; Ethics, Values and Financial Power; Finance Literature and Teaching; Nature of Money and Finance; Fiction and Financialisation; Taking It Personally; Academic Culture, Incentives and Professional Politics; About HBOS; Research Methodology; Inspiration for This Book; 2. About HBOS; History; Purpose and Mission; Finance Theory and Practice; Short-Termism; Transactional Banking; Boardroom Dancing and Hubris; HBOS Annual Reports; Corporate Governance |
|
Challenge and Accountability3. The Politics of Risk Management; Risk Management at HBOS; Removing the Risk of Challenge; Independent Risk Monitoring -- Non-executive Directors, the FSA, Auditors and Financial Markets; The Politics of Risk Judgement and Response; Risk Ignorance and Denial -- British Political Climate and the Financial Sector: 2001-8; Conclusion and Implications for Future Research; 4. The Chemistry of Audit Failure; Theoretical Framework; Research Method; HBOS and KPMG -- A Strategic Partnership; KPMG'S Role in Sacking of the HBOS Risk Whistleblower; Audit Negligence and Bias |
|
KPMG and the Regulators -- Collusion to DeceiveProfessional Scepticism: (Not) Challenging the Client; Professional Chameleons -- Pro-Active Regulatory Risk Management; Professional Ethics, Conduct and Revolving Doors; Political Insurance -- A Cover for Audit Negligence?; KPMG Response to Our Findings -- Contradictions Galore; Conclusions and Implications for Future Research; 5. Regulatory Failure; Strategy and Enforcement; Regulatory Challenge; Research Method; People and Power; Whistleblower Paul Moore; KPMG -- Independent Regulators? |
|
Kicking It All into the Long Grass -- The Financial Reporting Council (FRC)Andrew Tyrie MP -- Political Challenger; Conclusion and Implications for Regulatory Enforcement; 6. Findings and Implications for Finance Teaching and Research; Bibliography; Index |
| Summary |
"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."--Provided by publisher |
| Subject |
HBOS plc -- History
|
| SUBJECT |
HBOS plc. fast (OCoLC)fst01783794 |
| Subject |
Banks and banking -- Risk management -- Case studies
|
|
Banks and banking -- State supervision -- Case studies
|
|
Bank failures -- Great Britain -- Case studies
|
|
BUSINESS & ECONOMICS -- Business Ethics.
|
|
BUSINESS & ECONOMICS -- Business Law.
|
|
BUSINESS & ECONOMICS -- Finance.
|
|
Bank failures.
|
|
Banks and banking -- State supervision.
|
|
Great Britain.
|
| Genre/Form |
Case studies.
|
|
History.
|
| Form |
Electronic book
|
| ISBN |
9781315228754 |
|
1315228750 |
|
