Financial resilience of hybrid organizations : the case of OECD central banks

Fuchs, Sandro; Horni, Pascal; Brüesch, Caroline

Publication type:	Conference paper
Type of review:	No review
Title:	Financial resilience of hybrid organizations : the case of OECD central banks
Authors:	Fuchs, Sandro Horni, Pascal Brüesch, Caroline
Conference details:	Congress of the International Institute of Administrative Sciences, Tunis, Tunisia, 25-29 June 2018
Issue Date:	2018
Language:	English
Subject (DDC):	332.1: Banks
Abstract:	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.
URI:	https://digitalcollection.zhaw.ch/handle/11475/10330 https://app.oxfordabstracts.com/events/243/submissions/33139/question/12359/programme-builder/download
Fulltext version:	Published version
License (according to publishing contract):	Licence according to publishing contract
Departement:	School of Management and Law
Organisational Unit:	Institute of Public Management (IVM)
Appears in collections:	Publikationen School of Management and Law

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Fuchs, S., Horni, P., & Brüesch, C. (2018). Financial resilience of hybrid organizations : the case of OECD central banks. Congress of the International Institute of Administrative Sciences, Tunis, Tunisia, 25-29 June 2018. https://app.oxfordabstracts.com/events/243/submissions/33139/question/12359/programme-builder/download

Fuchs, S., Horni, P. and Brüesch, C. (2018) ‘Financial resilience of hybrid organizations : the case of OECD central banks’, in Congress of the International Institute of Administrative Sciences, Tunis, Tunisia, 25-29 June 2018. Available at: https://app.oxfordabstracts.com/events/243/submissions/33139/question/12359/programme-builder/download.

S. Fuchs, P. Horni, and C. Brüesch, “Financial resilience of hybrid organizations : the case of OECD central banks,” in Congress of the International Institute of Administrative Sciences, Tunis, Tunisia, 25-29 June 2018, 2018. [Online]. Available: https://app.oxfordabstracts.com/events/243/submissions/33139/question/12359/programme-builder/download

FUCHS, Sandro, Pascal HORNI und Caroline BRÜESCH, 2018. Financial resilience of hybrid organizations : the case of OECD central banks. In: Congress of the International Institute of Administrative Sciences, Tunis, Tunisia, 25-29 June 2018 [online]. Conference paper. 2018. Verfügbar unter: https://app.oxfordabstracts.com/events/243/submissions/33139/question/12359/programme-builder/download

Fuchs, Sandro, Pascal Horni, and Caroline Brüesch. 2018. “Financial Resilience of Hybrid Organizations : The Case of OECD Central Banks.” Conference paper. In Congress of the International Institute of Administrative Sciences, Tunis, Tunisia, 25-29 June 2018. https://app.oxfordabstracts.com/events/243/submissions/33139/question/12359/programme-builder/download.

Fuchs, Sandro, et al. “Financial Resilience of Hybrid Organizations : The Case of OECD Central Banks.” Congress of the International Institute of Administrative Sciences, Tunis, Tunisia, 25-29 June 2018, 2018, https://app.oxfordabstracts.com/events/243/submissions/33139/question/12359/programme-builder/download.