How not to police financial services. Balanced scorecards don't work for bankers
- Written by Elizabeth Sheedy, Professor - Risk governance, culture, remuneration, Macquarie University
References
- ^ Australian Prudential Regulation Authority (www.apra.gov.au)
- ^ financial services royal commission (theconversation.com)
- ^ Strengthening Prudential Requirements for Remuneration (www.apra.gov.au)
- ^ bad behaviour is more easily tolerated (papers.ssrn.com)
- ^ dropped 24% (papers.ssrn.com)
- ^ net promoter score (www.netpromoter.com)
- ^ restaurant meals (www.netpromotersystemblog.com)
- ^ own incentives and preferences (www.aaajournals.org)
- ^ despite poor behaviour (www.abc.net.au)
- ^ favouritism, collusion and extortion (www.sciencedirect.com)
- ^ multitask principal-agent (heinonline.org)
- ^ There's no evidence behind the strategies banks are using to police behaviour and pay (theconversation.com)
- ^ held back for multiple years (theconversation.com)
- ^ Confiscate their super. If it works for sports stars, it could work for bankers (theconversation.com)
Authors: Elizabeth Sheedy, Professor - Risk governance, culture, remuneration, Macquarie University