Table Of ContentPALGRAVE MACMILLAN STUDIES IN
BANKING AND FINANCIAL INSTITUTIONS
SERIES EDITOR: PHILIP MOLYNEUX
Risk Culture
in Banking
Alessandro Carretta, Franco Fiordelisi,
Paola Schwizer
Palgrave Macmillan Studies in Banking and
Financial Institutions
Series editor
Philip Molyneux
Bangor University
Bangor
UK
The Palgrave Macmillan Studies in Banking and Financial Institutions
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Alessandro Carretta · Franco Fiordelisi
Paola Schwizer
Risk Culture in
Banking
Alessandro Carretta Paola Schwizer
University of Rome Tor Vergata University of Parma
Rome, Italy Parma, Italy
Franco Fiordelisi
University of Rome III
Rome, Italy
and
Middlesex Business School
London, U.K
Palgrave Macmillan Studies in Banking and Financial Institutions
ISBN 978-3-319-57591-9 ISBN 978-3-319-57592-6 (eBook)
DOI 10.1007/978-3-319-57592-6
Library of Congress Control Number: 2017940616
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Contents
1 Introduction 1
Alessandro Carretta, Franco Fiordelisi and Paola Schwizer
Part I General View: Theory & Tools
2 Risk Culture 11
Alessandro Carretta and Paola Schwizer
3 Risk Culture in Different Bank Businesses 31
Marco Di Antonio
4 Risk Culture in the Regulation and Supervision
Framework 73
Alessandro Carretta and Paola Schwizer
5 Internal Controls and Risk Culture in Banks 97
Doriana Cucinelli
v
vi Contents
6 People First: Risk Culture Swings into Action 125
Daniele A. Previati
7 Measuring and Assessing Risk Culture 155
Nicola Bianchi and Franco Fiordelisi
8 The Impact of Risk Culture on Bank Reputation 177
Giampaolo Gabbi, Mattia Pianorsi and Maria Gaia Soana
9 Watchdog or Pet Dog: What Is the Role of Media in
Shaping Banks’ Risk Culture? 195
Vincenzo Farina, Lucrezia Fattobene and Elvira
Anna Graziano
Part II Good practices, Experiences, Field & Empirical Studies
10 Influence of National Culture on Bank Risk-taking
in the European System 215
Candida Bussoli
11 Risk-Taking of the European Banks in CEECs:
The Role of National Culture and Stake
Vs Shareholder View 241
Federica Sist and Panu Kalmi
12 Banks’ Risk Culture in Residential Mortgage
and Cross-Selling Policies: Evidence from
the Euro Area 259
Umberto Filotto, Claudio Giannotti, Gianluca
Mattarocci and Xenia Scimone
13 Supporting an Effective Risk Culture in Private
Banking/Wealth Management 285
Paola Musile Tanzi
Contents vii
14 Attitude Toward Risk and Financial Literacy
in Investment Planning 307
Gianni Nicolini, Tommy Gärling, Anders Carlander and
Jeanette Carlsson Hauff
15 Bank Credit Risk Management and Risk Culture 321
Doriana Cucinelli and Arturo Patarnello
16 Credit Rating Culture 349
Giacomo De Laurentis
17 Accounting Conservatism and Risk Culture 387
Alessandro Mechelli and Riccardo Cimini
18 Role of Internal Audit on Risk Culture 403
Fabio Arnaboldi and Caterina Vasciaveo
Index 431
Contributors
Fabio Arnaboldi holds a degree in Economics from the Bocconi
University in Milan, Italy. He joined Credito Italiano in 1990.
From 1990 to 1996 he worked in business area, and in 1997 he was
appointed Responsible for Credit Strategies and policies having the
responsibility of developing the credit risk internal models. In 2006,
he moved in Audit to develop monitoring activities as Responsible for
Audit Monitoring and Methodologies department. Back in risk area as
responsible for Group Risks Controls Department from 2011 to 2013,
he became Head of Country Italy Audit at the end of 2014.
Nicola Bianchi is currently a Ph.D. student in Finance and Banking at
Tor Vergata University of Rome, Italy. He is the author of different
papers on Risk Culture in Banking; his research interests include
corporate governance in banks, text analysis and NPLs.
Candida Bussoli is an Associate Professor of Financial Markets and
Institutions at LUM Jean Monnet University in Casamassima in
Bari, Italy, where she is head Professor of the courses in economics and
management of financial institutions, corporate banking, economics
of financial intermediaries, securities markets and asset management.
ix
x Contributors
Candida is also a member of the faculty of the international Ph.D. in
the economics and management of natural resources. She graduated
with honours in Accounting and Business Administration from the
University of Rome La Sapienza and holds a Master in Tax Law and
Corporate Tax Accounting from the LUISS Guido Carli University in
Rome, Italy and received her Ph.D. in Economics of Corporations
and Financial Intermediaries at the G. D’Annunzio University in
Chieti, Italy. Her research interests include financial systems’ regula-
tion, financial innovation and consolidation, bank-firm relationship,
corporate governance, trade credit.
Anders Carlander Ph.D., is currently a postdoc researcher at the
Department of Psychology, University of Gothenburg, Sweden. He is
also affiliated with the Centre for Finance, at the School of Business,
Economics, and Law, University of Gothenburg. He holds degrees in
both business and psychology and has a Ph.D. in psychology. The topic
of his dissertation was trust in financial institutions and banks. His
main research interests are judgment and decision making, risk, behav-
ioral finance and personality. He is currently involved in a number of
interdisciplinary research projects but he will soon conduct his own
research in a newly awarded research project investigating perceived risk
in delegated stock portfolios.
Alessandro Carretta is Full Professor in Economics and Management
of Financial Intermediation and former Director of the Ph.D. Program
in Banking and Finance at University of Rome Tor Vergata (Italy). He
has been teaching Banking and Finance for more than 35 years, being
formerly at the Universities of Urbino, Lecce and Milan Bocconi.
Fellow at Bocconi School of Management. His main research interests
relate to banking management, focusing on banking groups and diver-
sification, regulation and control, corporate governance, and culture
and organizational change in banks. He has published widely, having
produced more than 150 books and articles in academic journals. Past
President of the Italian Academy of Management (AIDEA), he is a
member of the committees and boards of several journals, research bod-
ies and financial and academic institutions.
