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Int. J. Financial Stud. 2016, 4(4), 20; doi:10.3390/ijfs4040020

Operational Risk Management in Financial Institutions: A Literature Review

Area Finance and Banking, Department of Business Administration, Economics, and Law, University of Oldenburg, D-26111 Oldenburg, Germany
Academic Editor: Nicholas Apergis
Received: 27 July 2016 / Revised: 30 September 2016 / Accepted: 3 October 2016 / Published: 19 October 2016
View Full-Text   |   Download PDF [740 KB, uploaded 19 October 2016]   |  

Abstract

Following the three-pillar structure of the Basel II/III framework, the article categorises and surveys 279 academic papers on operational risk in financial institutions, covering the period from 1998 to 2014. In doing so, different lines of both theoretical and empirical directions for research are identified. In addition, this study provides an overview of existing consortia databases and other publicly available sources on operational loss that may be incorporated into empirical research, as well as in risk measurement processes by financial institutions. Finally, this paper highlights the research gaps in operational risk and outlines recommendations for further research. View Full-Text
Keywords: Basel framework; operational risk; risk management; risk indicators Basel framework; operational risk; risk management; risk indicators
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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Pakhchanyan, S. Operational Risk Management in Financial Institutions: A Literature Review. Int. J. Financial Stud. 2016, 4, 20.

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Int. J. Financial Stud. EISSN 2227-7072 Published by MDPI AG, Basel, Switzerland RSS E-Mail Table of Contents Alert
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