Bank corporate governance in Australia: Is there a conflict between the existing corporate culture and the Anglo-Saxon model of corporate governance?

Erick Outa, Shawgat Kutubi

    Research output: Contribution to journalComment/debatepeer-review

    Abstract

    This article identifies bank governance deficit as a contributor to the misconduct identified in the recent Banking Royal Commission into misconduct in banks, superannuation, and financial services in Australia. Literature review has been conducted to identify the key issues of theory, frameworks, sources of corporate governance (CG), CG models, board skills, and age as factors in CG. The analysis finds that some of the governance requirements are well in place in Australia, the apparent failure of CG not being able to constrain misconduct in banks remains a puzzle. We question whether Anglo-Saxon model of short-termism has permeated bank organization culture beyond fixation. We suggest various opportunities for further research to try to narrow the gap between governance deficit and conduct in the banking sector.

    Original languageEnglish
    Pages (from-to)145-150
    Number of pages6
    JournalThe Journal of Corporate Accounting & Finance
    Volume32
    Issue number1
    Early online date22 Oct 2020
    DOIs
    Publication statusPublished - Jan 2021

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