Knyght, P. R., Kakabadse, N. K., Kouzmin, A. and Kakabadse, A. P. (2011) When rules and principles are not enough: insiders' views and narratives on the global financial crisis. Journal of Change Management. 11(1), pp. 45-67. 1469-7017, online 1479-1811.
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Abstract:
Much has been written about Wall Street and the global financial crisis (GFC). From a fraudulent derivatives market to a contestable culture of banking bonuses, culpability has been examined within the frames of American praxis, namely that of American exceptionalism. This study begins with an exploratory analysis of non-US voices concerning the nature of the causes of the GFC. The analysis provides glimpses of the globalized extent of assumptions shared, but not debated within the globalization convergence of financial markets as the neo-liberal project. Practical and paradigmatic tensions are revealed in the capture of a London-based set of views articulated by senior financial executives of financial service organizations, the outcomes of which are not overly optimistic for any significant change in praxis within the immediate future.
Uncontrolled Keywords:
Global financial crisis; bonus culture; financial markets; princes of industry
Subjects:
Creators:
Knyght, P. R., Kakabadse, N. K., Kouzmin, A. and Kakabadse, A. P.
Publisher:
Taylor & Francis
Faculties, Divisions and Institutes:
Date:
2011
Date Type:
Publication
Page Range:
pp. 45-67
Journal or Publication Title:
Journal of Change Management
Volume:
11
Number:
1
Language:
English
ISSN:
1469-7017, online 1479-1811
Status:
Published / Disseminated
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