| 1. |
- Jönsson, Sten, 1940, et al.
(författare)
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Learning Banks
- 2015
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Ingår i: HRM Workshop, Personal- och ledningsfrågor i en global värld. Handelshögskolan vid Göteborgs universitet, 4-5 mars 2015.
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Konferensbidrag (övrigt vetenskapligt/konstnärligt)
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| 2. |
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Kassaflödet i en bank rapporteras olämpligt idag! Ett förslag till förändring
- 2015
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Samlingsverk (redaktörskap) (övrigt vetenskapligt/konstnärligt)abstract
- Vi vill med denna bok skapa debatt om de senaste årtiondens utveckling inom redovisningen, särskilt bankers kassaflödesanalys. När förslag till redovisningsrekommendationerna för kassaflödesanalys presenterades av FASB (Financial Accounting Standard Board) och IASB (International Standard Board) var banker kraftiga motståndare till rekommendationerna. I strävan efter att åstadkomma jämförbarhet mellan olika branscher beviljades inte något undantag för banker. Konsekvensen har blivit en kassaflödesanalys, som ger banker ett minimalt signalvärde och som inte används. Produktion av information som både är oanvändbar och som inte används är förstås både kostsamt och kontraproduktivt. Vi har skrivit denna debattbok för att vi vill väcka debatt om denna problematiska situation. Vi föreslår i boken en enkel kassaflödesmodell som kan användas av banker (och andra företag). Om förslaget används får bankledning, ägare och andra intressenter ett signalvärde.
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| 3. |
- Liff, Roy, 1951, et al.
(författare)
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Failed crisis communication: The Northern Rock Bank case
- 2018
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Ingår i: Accounting, Auditing & Accountability Journal. - 0951-3574. ; 31:1, s. 237-260
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Tidskriftsartikel (refereegranskat)abstract
- Abstract Purpose: Although granted funding from government agencies, Britain’s Northern Rock (NR) Bank experienced a depositors’ bank run in 2007. This study explores bank managers’ and the Triparties’ communications, in their failed attempt to reassure depositors during the crisis. Design/methodology/approach: The paper is based on content analysis of information given to depositors by bank managers and the Triparties via mass media. The theoretical concepts of rituals and masking were utilized. Findings: Results suggest that nonfinancial reporting supersedes financial reporting. Rather than hidden losses, bank regulators’ and politicians’ discussions of emergency funding for NR was the crucial incident signaling “something going on”. Even positive statements by prominent organizational actors may have signaled serious problems that compromised NR’s “business as usual” stance. Practical implications: Collective action manifested in a bank run is triggered by reasons other than numbers in financial reporting. The research results indicate a need to consider how regulatory authorities act during financial crises. Originality/value: Previous studies concluded that sensegivers must be consistent in framing communication to sensemakers. Sensemaking requires that the crisis communication is also consistent in the sensemakers’ framing. Because it is difficult for sensegivers to reshape the collective sensemakers’ frame, successful crisis communication requires that sensegivers change their comummication to match the sensemakers’ frame, including symbolic actions. Additionally, a bank run is characterized first by loss of trust in financial reporting; second, in nonfinancial reporting; and, finally, in the sensegiving actor: a domino effect.
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| 4. |
- Liff, Roy, 1951, et al.
(författare)
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Managers' assessment of thin and thick trust: The importance of benevolence in interbank relations
- 2017
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Ingår i: Scandinavian Journal of Management. - : Elsevier BV. - 0956-5221. ; 33:3, s. 151-161
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Tidskriftsartikel (refereegranskat)abstract
- This qualitative interview study investigates managers’ ongoing relationships in inter-organisational banks, examining how they assess trust in their counterparts and how they decide if the relationship should continue. In normal times, formal information can assess thin trust – the ability and integrity of their counterparts. In times of impending crisis, senior bank managers rely on the evaluation of thick personal trust: benevolence. To be a trustworthy party in a financial crisis, benevolence must be established between counterpart banks before the crisis. Benevolence is a redundant component of trust in normal times, but extremely important during a crisis. Lack of benevolence established in normal times may, in fact, be at least partially responsible for the fragility of interfirm agreements and alliances.
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| 5. |
- Liff, Roy, 1951, et al.
(författare)
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The relevance of valuation principles in a financial crisis: senior bank managers' evaluations of other banks on the interbank market.
- 2018
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Ingår i: International Journal of Critical Accounting. - 1757-9848 .- 1757-9856. ; 10:5, s. 363-379
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Tidskriftsartikel (refereegranskat)abstract
- This article examines senior bank managers' evaluations of other banks in the interbank market during times of financial crisis. We conclude that the fair value principle demands greater awareness of the need for reputational monitoring, evaluation by thick trust and scepticism towards numbers. Monitoring during crisis includes neither historical cost nor fair value numbers, because numbers are distrusted. Consequently, valuation principles may not explain contagion effects during crisis.
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| 6. |
- Liff, Roy, 1951, et al.
(författare)
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Usefulness of Enterprise Risk Management in two banks
- 2018
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Ingår i: Qualitative Research in Accounting & Management/Emerald. - 1176-6093. ; 15:1, s. 124-150
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Tidskriftsartikel (refereegranskat)abstract
- The purpose is to investigate how the management control system, the bank’s control package, influences opinion about the usefulness of risk measurement (RM) in different control contexts before and after a financial crisis, in order to understand what influences the usefulness of Enterprise RM (ERM) manifested in RM. The study is based on semi-structured interviews in 2000–2010, with senior bank managers of two international banks (Bank A and Bank B) – both ranking among the top 100 in the world, but differing structurally and culturally. The two banks took opposite trajectories. Bank A went from high to low expectations of usefulness; Bank B went from low to high expectations. The different attitudes towards RM exhibited by Bank A and Bank B are explained by differences in their control packages, manifested by technocratic control and socio-ideology. This study reveals that there are not merely different degrees of RM usage in the two banks, but that they also show two diverting trajectories. Given this finding, the significance of the organization structure and its control packages (especially the alignment between these two factors) is analysed to find a plausible explanation for the different experiences of senior managers towards the usefulness of RM. This study contributes to ERM research and to the contingency theory of management accounting.
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| 7. |
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| 8. |
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| 9. |
- Wahlström, Gunnar, 1966
(författare)
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Meetings between analysts and corporate managers in Sweden: why do they exist?
- 2010
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Ingår i: International Journal of Critical Accounting 2010. - 1757-9848. ; 2:4, s. 437-457
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Tidskriftsartikel (refereegranskat)abstract
- The purpose of this article is, from the perspective of the financial analyst working in Sweden, to explain why financial analysts and managers hold private meetings. In the study, 25 financial analysts have been interviewed using a semi-structured approach. The findings reveal that the primary determinant of the fair value of a business and/or its shares or stock is based on the gut feeling of financial analysts. This, in turn, is based on years of experience, knowledge about the company, industry specialisations and so forth. Financial quantification achieved by the application of models and statistics plays a minor role and although it is not used for determining valuations, it does have applications in terms of rationalising, validating and justifying valuation assessment. To bolster their gut feelings analysts need person-to-person meetings with corporate managers. Both parties use such meetings to influence valuation assessment.
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| 10. |
- Wahlström, Gunnar, 1966
(författare)
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Numbers and meetings between financial analysts and corporate managers
- 2013
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Ingår i: International Journal of Management Practice. - 1477-9064. ; 6:4, s. 363-373
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Tidskriftsartikel (refereegranskat)abstract
- Abstract: One function for financial analysts is to provide recommendations ‘crowned’ with a price for the share in the future. Financial analysts have several sources of information, and in the literature, meetings between financial analysts and corporate managers have been exposed as the most important source of information. The purpose of this paper is to describe and explain those meetings. The findings are grounded on 25 unstructured interviews with the highest-ranking financial analysts in Sweden. The findings prove that financial analysts are bound to communicate their results in numbers; but as their quantitative models are problematic, the financial analysts become dependent on face-to-face discussions with managers. Consequently, financial analysts depart from the statistically deductive models learnt at universities and the analysts put their efforts in personal contacts with the managers. In conclusion, for financial analysts, ‘talk’ become more useful than computing numbers through quantitative models.
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| 11. |
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| 12. |
- Wahlström, Gunnar, 1966
(författare)
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Risk in practice – senior bank managers at work
- 2009
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Ingår i: International Journal of Critical Accounting. - 1757-9848. ; 1:3, s. 287-305
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Tidskriftsartikel (refereegranskat)abstract
- This article advances this critique of risk measurement by providing evidence on the risks senior bank managers perceive as the greatest threats to their organisations. The data is collected through semi-structured interviews with senior bank managers from all the listed banks in Sweden. The perceived risks relate to the interviewees' positions in the banks. Risks also emerge unexpectedly and are difficult to measure. This situation is due to the working conditions of senior bank managers who work in a challenging, unstable and unplanned context; when one problem is solved, attention is immediately channelled to the next. Under stable conditions, measured risks are regarded as manageable and controllable. However, based on the criticism of risk measurement explored in the literature, it is plausible that risk measurement information provides senior bank managers with a false sense of security. Thus, when the operational contexts are altered, such as during financial crises, risk measurement emerges as a problem requiring the attention of senior bank managers.
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| 13. |
- Wahlström, Gunnar, 1966
(författare)
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The use of multidimensional information in credit decisions: a study from the inside of a successful bank
- 2021
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Ingår i: International Journal of Economics and Accounting. - 2041-868X .- 2041-8698. ; 11:2, s. 135-154
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Tidskriftsartikel (refereegranskat)abstract
- Abstract: This study explores credit decisions in a bank that, according to Standard and Poor, is one of the largest in the world in terms of assets and that Moody's has described as one of the least likely banks in the world to default. This study reveals that local credit officers, who were geographically close to their customers, had great freedom in credit decisions, regardless of the size of the loan. Larger credit decisions must be confirmed by headquarters. Once confirmed, the local officer handled the credit further. Freedom for local credit officers worked as a device to motivate to work beyond the formal system of risk measurement, to seek complex information in their face-to-face meetings with customers. The described approach to credit decisions was set by strict control through the use of numbers, as top management could step in if middle managers or local credit officers were incompetent.
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| 14. |
- Wahlström, Gunnar, 1966
(författare)
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Views from the regulated: financial analysts and insider information
- 2012
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Ingår i: International Journal of Managerial and Financial Accounting. - 1753-6715. ; 4:3, s. 272-290
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Tidskriftsartikel (refereegranskat)abstract
- The abuse of insider information has the potential to destroy confidence in companies, which may erode company market values and, ultimately, destabilise societies. This article presents original information, acquired through 25 semi-structured interviews, about financial analysts’ attitudes towards the use of insider information. Although much of the literature asserts that the role of professional associations in the regulatory function has decreased, the article proposes reinforcing the role of such associations as a way of addressing the problem of regulating the abuse of insider information. The article poses the question: How can the role of associations in financial regulation be reinforced? The main conclusion, supported by the theoretical framework, is that the problems of insider information abuse are best solved in a public debate initiated by the relevant associations. Such a public debate could lead to greater awareness of the problems, to possible solutions and to improved professional conduct. Ultimately, social order may be better enforced and maintained. Thus, in this way, the role of associations themselves may be strengthened.
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| 15. |
- Wahlström, Gunnar, 1966
(författare)
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When and why do collective heuristics perform well? The case of the interbank market
- 2018
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Ingår i: International Journal of Critical Accounting. - 1757-9848 .- 1757-9856. ; 10:3/4, s. 224-240
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Tidskriftsartikel (refereegranskat)abstract
- This study explains how senior bank managers in two of the worlds' 100 greatest banks act and react on the interbank market. Interviews with senior managers revealed that top management was continuously monitoring other banks. As a crisis appeared to be unfolding, top executives took a step forward and withdrew credit to certain other banks, sidestepping the formal hierarchical credit process used in normal times. This behaviour enabled fast action - a necessity in time-limited crises. Their fast action meant that the two banks had none of the losses experienced in other banks during the global financial crisis of 2007-2009.
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| 16. |
- Wahlström, Gunnar, 1966
(författare)
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Worrying but accepting new measurements: the case of Swedish bankers and operational risk
- 2006
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Ingår i: Critical perspectives on accounting. - 1045-2354. ; 17:4, s. 493-522
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Tidskriftsartikel (refereegranskat)abstract
- This article examines the question of users’ acceptance of measures that they regard as problematic. The question is investigated in the context of the new capital accord issued by the Basel Committee. The Basel Committee has issued a new capital accord governing banks’ regulatory capital. Most countries around the world support the accord. In the new accord, operational risk is given particular emphasis and in this study the behavioural implications associated with operational risk are critically identified. The empirical evidence is grounded on a unique body of 23 unstructured interviews with senior managers from all (four) listed banks in Sweden. The interviewees raised serious concerns regarding the measurement of operational risk and their critique was of such magnitude that the future of the accord could be at stake. On the other hand, the interviewees identified several advantages with the new accord and it can be concluded that the interviewees supported the accord and its conception of operational risk. The question then arises as to why both the accord and the concept of operational risk are supported in spite of such serious criticism. Arguably, the Basel Committee uses persuasive methods of communication in the accord itself and in supporting documents that present the accord as both reliable and necessary. This manner of communication, which ignores potential criticisms, functions so as to silence possible alternatives.
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| 17. |
- Wahlström, Niklas, et al.
(författare)
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Composition and structure of cell wall ulvans recovered from Ulva spp. along the Swedish west coast
- 2020
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Ingår i: Carbohydrate Polymers. - : Elsevier BV. - 0144-8617 .- 1879-1344. ; 233
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Tidskriftsartikel (refereegranskat)abstract
- The cell wall polysaccharide ulvan was isolated from two species of the seaweed Ulva collected along the Swedish west coast. Acidic extraction was benchmarked against hot water extraction with enzymatic purification and against commercial ulvan. Extracted ulvan contained 11–18 % g/g of ash, some protein (up to 1.3 % g N/g) but minimal colored impurities. The ulvans had high molecular weights (660,000–760,000 g/mol) and were composed of 77–79 % g/g carbohydrates, mainly rhamnose, xylose, glucose, glucuronic acid, and iduronic acid. The extraction protocol and the ulvan source strongly impact the molecular weight and the chemical composition. Acidic extraction caused almost complete desulfation of the isolated ulvan while the other method preserved a significant degree of SO3 substituents. Elemental analysis of ash remaining after thermal degradation showed presence of common mineral elements such as Na, Ca, Mg, Al, and K, but none of the heavy metals Pb, Hg, or As.
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