Publikationstyp: Konferenz: Paper
Art der Begutachtung: Keine Begutachtung
Titel: Financial resilience of hybrid organizations : the case of OECD central banks
Autor/-in: Fuchs, Sandro
Horni, Pascal
Brüesch, Caroline
Angaben zur Konferenz: Congress of the International Institute of Administrative Sciences, Tunis, Tunisia, 25-29 June 2018
Erscheinungsdatum: 2018
Sprache: Englisch
Fachgebiet (DDC): 332.1: Banken
Zusammenfassung: There is little doubt that the great financial crisis (GFC) that started in 2007 has substantially changed central banking. Central banks (CBs) were forced to undertake financial interventions that were larger and financially riskier than any previously undertaken. Such interventions have led CBs balance sheets – together with the corresponding underlying risks – expand to record levels. Such interventions have undoubtedly intensified the debate about central bank equity and financial resilience. If the public wants to finds reasons for criticism, then an easy target may be central bank (negative) equity, and more generally, central bank financial resilience. Overall, the financial strength and resilience of CBs have come under closer academic, political and also public scrutiny. Despite closer scrutiny, there exists surprisingly little academic work concerning the role and importance of central bank financial resilience. This paper will complement limited academic research with respect to central bank financial resilience and aims to establish a comprehensive framework to manage and govern financial resilience through combining operational and institutional aspects of CB. Based on the established theoretical resilience framework, we aim to analyze and measure the resilience of all 36 OECD central banks, by scrutinizing CB legislative frameworks and financial statements in order to elaborate different roles, targets and managing aspects of CB financial resilience. First results show a heterogeneous landscape of CB financial resilience and that the consequences of weak financial resilience might be underestimated significantly. The paper reveals the need to establish a recognized practice guideline, to govern and monitor CB financial resilience.
Volltext Version: Publizierte Version
Lizenz (gemäss Verlagsvertrag): Lizenz gemäss Verlagsvertrag
Departement: School of Management and Law
Organisationseinheit: Institut für Verwaltungs-Management (IVM)
Enthalten in den Sammlungen:Publikationen School of Management and Law

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