The dynamics of organizational collapse: The case of Barings Bank

The Dynamics of Organizational Collapse: The Case of Barings Bank

Volumn , Issue , 2008, Pages 1-143

  Drummond, Helga ^a  

^a UNIVERSITY OF LIVERPOOL MANAGEMENT SCHOOL   (United Kingdom)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84916944921     PISSN: None     EISSN: None     Source Type: Book    
DOI: 10.4324/9780203932773     Document Type: Book

References (231)

1. Abolafia, M. Y. and Kilduff, M. (1988) 'Enacting market crisis: the social construction of a speculative bubble', Administrative Science Quarterly, 33, 177-93.
2. Allison, G. and Zelikow, P. (1999) Essence of Decision: Explaining the Cuban Missile Crisis, New York: Longman.
3. Arnold, P. J. and Sikka, P. (2001) 'Globalization and the state-profession relationship: the case the bank of Credit and Commerce International', Accounting Organizations and Society, 26, 475-99.
4. Auger, P. (2001) The Death of Gentlemanly Capitalism, Harmondsworth: Penguin.
5. Bachrach, P. and Baratz, M. S. (1963) 'Decisions and non-decisions: an analytical framework', American Political Science Review, 57, 632-42.
6. Banaji, M. R. and Greenwald, A. G. (1995) 'Implicit gender stereotyping in judgements of fame', Journal of Personality and Social Psychology, 68, 181-98.
7. Banaji, M. R., Bazerman, M. H. and Chugh, D. (2003) 'How (un)ethical are you?', Harvard Business Review, 81(12), 56-64.
8. Barley, S. R. (1983) 'Semiotics and the study of occupational and organizational cultures', Administrative Science Quarterly, 28, 393-413.
9. Barley, S. R. (1986) 'Technology as an occasion for structuring: evidence from observations of CT scanners and social order of radiology departments', Administrative Science Quarterly, 31, 78-108.
10. Barley, S. R. and Tolbert, P. S. (1997) 'Institutionalization and structuration: studying the links between action and institution', Organization Studies, 18, 93-118.
11. Barnard, C. (1938) The Functions of the Executive, Cambridge, MA: Harvard University Press.
12. Barrett, M. and Walsham, G. (1999) 'Electronic trading and work transformation in the London insurance market', Information Systems Research, 10, 1-22.
13. Bazerman, M. H. (2001) Judgement in Managerial Decision-Making, New York: Wiley.
14. Bazerman, M. H. (2005) 'Conducting influential research: the need for prescriptive implications', Academy of Management Review, 30(1), 25-31.
15. Bazerman, M. H., Beekun, R. I. and Schoorman, F. D. (1982) 'Performance evaluation in a dynamic context: a laboratory study of the impact of the prior commitment to the ratee', Journal of Applied Psychology, 67, 873-76.
16. Bazerman, M. H., Morgan, K. P. and Lowenstein, G. F. (1997) 'The impossibility of auditor independence', Sloan Management Review, 38(4), 89-94.
17. Bazerman, M. H., Moore, D. A., Tetlock, P. E. and Tanlu, L. (2006) 'Reports of solving the conflicts of interest in auditing are highly exaggerated', Academy of Management Review, 31(1), 43-49.
18. Becker, H. S. (1960) 'Notes on the concept of commitment', American Journal of Sociology, 66, 32-40.
19. Bingham, The Right Honourable Lord Justice (1992) Inquiry into the Supervision of The Bank of Credit and Commerce International, London: HMSO.
20. Blau, P. M. (1956) Bureaucracy in Modern Society, New York: Random.
21. Board of Banking Supervision (1995) Report of the Inquiry into the Circumstances of the Collapse of Barings, London: HMSO.
22. Bowen, M. G. (1987) 'The escalation phenomenon reconsidered: decision dilemmas or decision errors', Academy of Management Review, 12, 52-66.
23. Braverman, H. (1974) Labour and Monopoly Capital, New York: Monthly Review Press.
24. Brockner, J. (1992) 'The escalation of commitment to a failing course of action: toward theoretical progress', Academy of Management Review, 17, 39-61.
25. Brockner, J. and Houser, G. B. (1986) 'Escalation of commitment to an ineffective course of action: the effective of feedback having negative implications for self-identity', Administrative Science Quarterly, 31, 109-26.
26. Brockner, J., Rubin, J. Z. and Lang, E. (1981) 'Face-saving and entrapment', Journal of Experimental Social Psychology, 17, 68-79.
27. Brockner, J., Shaw, M. C. and Rubin J. Z. (1979) 'Factors affecting withdrawal from an escalating conflict: quitting before it's too late', Journal of Experimental Social Psychology, 17, 492-503.
28. Brown, A. D. (2005) 'Making sense of the collapse of Barings Bank', Human Relations, 58, 1579-604.
29. Brown, R. H. (1977) A Poetic for Sociology, Cambridge: Cambridge University Press.
30. Brown, R. H. (1978) 'Bureaucracy as praxis: toward a political phenomenology of formal organizations', Administrative Science Quarterly, 23, 365-82.
31. Brown, R. H. (1989) Social Science as Civic Discourse, Chicago, IL: University of Chicago Press.
32. Burrell, G. and Morgan, G. (1979) Sociological Paradigms and Organizational Analysis, Chicago, IL: University of Chicago Press.
33. Cameron, K. S. and Quinn, R. E. (1988) 'Organizational paradox and transformation', in R. E. Quinn and K. S. Cameron (eds) Paradox and Transformation: Toward a Theory of Change in Organization and Management, Cambridge, MA: Ballinger.
34. Caminiti, S. (1987) 'He put the kick back into Coke', Fortune, 26 October, 48.
35. Chiasson, M. and Saunders, C. (2005) 'Reconciling diverse approaches to opportunity research using the structuration theory', Journal of Business Venturing, 20, 747-67.
36. Chief Medical Officer (2006) Good Doctors, Safer Patients: Report by the Chief Medical Officer, London: Department of Health.
37. Clegg, S. R. (1989) 'Radical revisions: power discipline and organizations', Organization Studies, 10, 97-115.
38. Crozier, M. (1964) The Bureaucratic Phenomenon, London: Tavistock.
39. Dalton, M. (1959) Men Who Manage, New York: Wiley.
40. Dandridge, T. C., Mitroff, I. and Joyce, W. F. (1980) 'Organizational symbolism: a topic to expand organizational analysis', Academy of Management Review, 5, 77-82.
41. Deal, T. and Kennedy, A. (1988) Corporate Culture: The Rites and Rituals of Corporate Life, Harmondsworth: Penguin.
42. Deming, E. (1986) Out of the Crisis, Cambridge: Cambridge University Press.
43. Downs, A. (1967) Inside Bureaucracy, Boston, MA: Little, Brown.
44. Drummond, H. (1994) 'Escalation in organizational decision-making: a case of recruiting an incompetent employee', Journal of Behavioral Decision Making, 7, 43-55.
45. Drummond, H. (1996) Escalation in Decision-Making: The Tragedy of Taurus, Oxford, Oxford University Press.
46. Drummond, H. (1998a) 'Go and say "we're shutting": ju jitsu as a metaphor for analysing resistance', Human Relations, 51, 1-19.
47. Drummond, H. (1998b) 'Is escalation always irrational?', Organization Studies, 19, 911-29.
48. Drummond, H. (2001) The Art of Decision Making: Mirrors of Imagination, Masks of Science, Chichester: Wiley.
49. Drummond, H. (2004) 'See you next week? A study of entrapment in a small business', International Small Business Journal, 22, 487-502.
50. Drummond, H. and Chell, E. (2002) 'Life's chances and choices, a study of entrapment in career decisions with reference to Becker's side bets theory', Personnel Review, 30, 186-202.
51. Dunegan, K. J. (1993) 'Framing, cognitive models and image theory: toward an understanding of a glass half full', Journal of Applied Psychology, 78, 419-503.
52. Economist (1995a) 'The collapse of Barings: a fallen star', The Economist, 4 March, 19-21.
53. Economist (1995b) 'Baring not quite all', The Economist, 22 July, 66.
54. Economist (1995c) 'Who lost Barings?', The Economist, 22 July, 16.
55. Edelman, M. (1971) Politics as Symbolic Action, Chicago, IL: Markham.
56. Eichenwald, K. (2005) Conspiracy of Fools, New York: Broadway.
57. Etzioni, A. (1968) The Active Society, New York: Free Press.
58. Evans, H. (1983) Good Times, Bad Times, London: Weidenfeld & Nicolson.
59. Fay, S. (1982) Beyond Greed, New York: Viking.
60. Fay, S. (1996) The Collapse of Barings, London: Arrow.
61. Feldman, M. S. (2000) 'Organizational routines as a source of continuous change', Organization Science, 41, 611-29.
62. Fennell, D. (1988) Investigation into the King's Cross Underground Fire, Cm 499, Report for the Department of Transport, London: HMSO.
63. Festinger, L. (1957) A Theory of Cognitive Dissonance, Evanston, IL: Row, Peterson.
64. Financial Times (1991) Behind Closed Doors - BCCI: The Biggest Bank Fraud in History, London: Financial Times.
65. Forlani, D. and Mullins, J. W. (2000) 'Perceived risks and choices in entrepreneurs' new venture decisions', Journal of Business Venturing, 15, 305-22.
66. Fox, F. and Staw, B. M. (1979) 'The trapped administrator: the effects of job insecurity and policy resistance upon commitment to a course of action', Administrative Science Quarterly, 24, 449-71.
67. Gapper, J. (1997) 'Sharp rebuke and three year ban for Barings' risk chief ', Financial Times, 12 March.
68. Gapper, J. and Denton, N. (1996) All that Glitters: The Fall of Barings, London: Hamish Hamilton.
69. Gapper, J. and Pirie, M. (2005) 'The human lesson of Nick Leeson's fraud', Financial Times, 17 February.
70. Ghoshal, S. and Moran, P. (1996) 'Bad for practice: a critique of the transaction cost theory', Academy of Management Review, 21(1), 13-47.
71. Gibbs, R. W. (1993) 'Process and products in making sense of tropes', in A. Ortony (ed.) Metaphor and Thought, Cambridge: Cambridge University Press.
72. Giddens, A. (1979) Central Problems in Social Theory, London: Macmillan.
73. Giddens, A. (1984) The Constitution of Society, Cambridge: Polity.
74. Giddens, A. (1995) Politics, Sociology and Social Theory, Cambridge: Polity.
75. Gladwell, M. (2000) The Tipping Point, London: Abacus.
76. Goffman, E. (1967) Interaction Ritual: Essays on Face-to-Face Behaviour, New York:Pantheon.
77. Greener, I. (2006) 'Nick Leeson and the collapse of Barings Bank: socio-technical networks and the "rogue-trader"', Organization, 13, 421-41.
78. Griffiths, M. D. (1990) 'The cognitive psychology of gambling', Journal of Gambling Studies, 6, 31-43.
79. Habermas, J. (1988) On the Logic of the Social Sciences, Cambridge, MA: MIT Press.
80. Habermas, J. (1992) Postmetaphysical Thinking, Cambridge: Polity.
81. Hall, M. J. B. (1995) A Review of the Board of Banking Supervision's Inquiry into the Collapse of Barings, Loughborough University Banking Centre Research Paper, 92/95, Loughborough, UK.
82. Hardin, G. (1968) 'The tragedy of the commons', Science, 162, 1243-48.
83. Hatch, M. (1999) 'Exploring the empty spaces of organization: how improvisational jazz helps re-describe organization studies', Organization Studies, 20, 75-101.
84. Hedberg, B. and Jonsson, S. (1977) 'Strategy formulation as a discontinuous process', International Studies of Management and Organization, 7, 88-109.
85. Herr, M. (1977) Dispatches, London: Picador.
86. Hirschheim, R. and Newman, M. (1991) 'Symbolism and information systems development:myth metaphor and magic', Information Systems Research, 2, 29-62.
87. Hobson, D. (1991) The Pride of Lucifer, London: Mandarin.
88. Hofstede, G. (1994) Culture in Organizations, London: HarperCollins.
89. Hoyos, C., Michaels, A. and Parker, A. (2004a) 'Regulators dig deeper into Royal Dutch/Shell's problems', Financial Times, 25 August, 21.
90. Hoyos, C., Michaels, A. and Parker, A. (2004b) 'Shell was warned on reserves in 2000', Financial Times, 25 August, 1.
91. Janis, I. L. (1982) Groupthink, London: Houghton Mifflin.
92. Janis, I. L. (1989) Crucial Decisions: Leadership in Policy and Crisis Management, New York: Free Press.
93. Janney, J. J. and Dess, G. G. (2004) 'Can real-options analysis improve decision-making? Promises and pitfalls', Academy of Management Executive, 18, 60-75.
94. Jelinek, M., Smircich, L. and Hirsch, P. (1983) 'Introduction: a code of many colours', Administrative Science Quarterly, 28, 331-38.
95. Kahneman, D. and Tversky, A. (1972) 'Subjective probability: a judgement of representativeness', Cognitive Psychology, 3, 430-54.
96. Kahneman, D. and Tversky, A. (1979) 'Prospect theory: an analysis of decision under risk', Econometrica, 47, 263-91.
97. Kahneman, D. and Tversky, A. (1982) 'The psychology of preferences', Scientific American, 246, 162-70.
98. Keiser, A. (1987) 'From asceticism to administration of wealth. Medieval monasteries and the pitfalls of rationalization', Organization Studies, 8, 103-23.
99. Kerr, N. L. and Tindale, R. S. (2003) 'Group performance and decision-making', Annual review of Psychology, 55, 623-55.
100. Knights, D. and Roberts, J. (1982) 'The power of organization or the organization of power?', Organization Studies, 3, 47-63.
101. Kramer, K. R. (1998) 'Re-visiting the Bay of Pigs and Vietnam decisions 25 years later:how well has the groupthink hypothesis stood the test of time?', Organizational Behavior and Human Decision Processes, 73, 236-71.
102. Kuhn, T. S. (1970) The Structure of Scientific Revolutions, Chicago, IL: University of Chicago Press.
103. Kynaston, D. (1994) The City of London: A World of its Own, 1815-1890, London: Chatto & Windus.
104. Kynaston, D. (2001) The City of London: (Vol. IV) A Club No More, 1945-2000, London:Chatto & Windus.
105. Lammers, C. J. (1988) 'The inter-organizational control of an occupied country', Administrative Science Quarterly, 33, 438-57.
106. Langer, E. J. (1983) The Psychology of Control, Beverly Hills, CA: Sage.
107. Lapierre, D. and Moro, J. (1997) Five Past Midnight in Bhopal, London: Simon and Schuster.
108. Larsen, P. T. (2005a) 'Barings - 10 years on', Financial Times, 19 February, 3.
109. Larsen, P. T. (2005b) 'Rogue traders still pose a threat', Financial Times, 21 February, 22.
110. Laudon, K. C. and Laudon, J. P. (1999) Essentials of Management Information Systems, Englewood Cliffs, NJ: Prentice Hall.
111. Leeson, N. with Whitley, E. (1997) Rogue Trader, London: Warner.
112. McCarthy, A. M., Schoorman, F. D. and Cooper, A. C. (1993) 'Reinvestment decisions by entrepreneurs - rational decision making or escalation of commitment', Journal of Business Venturing, 8, 9-24.
113. Mackintosh, J. (2001) 'City imposes life ban on Flaming Ferraris', Financial Times, 27 July.
114. McLean, B. and Elkind, P. (2003) The Smartest Guys in the Room, New York:Portfolio.
115. Manning, P. K. (1979) 'Metaphors of the field: varieties of organizational discourse', Administrative Science Quarterly, 24, 660-67.
116. March, J. G. (1981) 'Footnotes to organizational change', Administrative Science Quarterly, 26, 563-77.
117. Mars, G. (1982) Cheats at Work: An Anthropology of Workplace Crime, London: Allen & Unwin.
118. Mechanic, D. (1962) 'Sources of power of lower participants in complex organizations', Administrative Science Quarterly, 7, 349-64.
119. Meglino, B. M. and Korsgaard, M. A. (2004) 'Considering rational self-interest as a disposition:organizational implications of other orientation', Journal of Applied Psychology, 89, 946-59.
120. Merton, R. K. (1936) 'The unanticipated consequences of purposive social action', American Sociological Review, 1, 894-904.
121. Merton, R. K. (1948) 'The self-fulfilling prophecy', Antioch Review, 8, 193-210.
122. Merton, R. K. (1957) Social Theory and Social Structure, New York: Free Press.
123. Meyer, J. W. and Rowan, B. (1978) 'Institutionalized organizations: formal structure as myth and ceremony', American Journal of Sociology, 83, 340-63.
124. Miller, D. (1992) The Icarus Paradox, New York: Harper.
125. Ministry for Finance, Singapore (1995) Barings Futures (Singapore) Pte Ltd: The Report of the Inspectors Appointed by the Minister for Finance. Singapore: Ministry for Finance.
126. Mintzberg, H. (1993) 'Crafting strategy', in H. Mintzberg and J. B. Quinn (eds) The Strategy Process, Englewood Cliffs, NJ: Prentice Hall.
127. Moon, H. (2001) 'The two phases of conscientiousness: duty and achievement striving in escalation of commitment dilemmas', Journal of Applied Psychology, 86, 533-40.
128. Moon, H., Hollenbeck, J. R., Humphrey, S. E. and Maue, B. (2003) 'The tripartite model of neuroticism and the suppression of depression and anxiety within an escalation of commitment dilemma', Journal of Personality, 71, 347-67.
129. Moore, D. A., Tetlock, P. E., Tanlu, L. and Bazerman, M. H. (2006) 'Conflicts of interest and the case of auditor independence: moral seduction and strategic issue cycling', Academy of Management Review, 31(1), 10-29.
130. Morgan, G. (1980) 'Paradigms, metaphors and puzzle solving in organizations', Administrative Science Quarterly, 25, 605-22.
131. Morgan, G. (1983) 'More on metaphor: why we cannot control tropes in administrative science', Administrative Science Quarterly, 28: 601-07.
132. Morgan, G. (1990) 'Paradigm diversity in organizational research', in J. Hassard and D. Pym (eds) The Theory and Philosophy of Organizations, London: Routledge.
133. Morgan, G. (1996) Images of Organization, London: Sage.
134. Morgan, G., Frost, P. J. and Pondy, L. R. (1983) 'Organizational symbolism', in L. R. Pondy, P. J. Frost, G. Morgan and T. C. Dandridge (eds) Organizational Symbolism, London: JAI Press.
135. National Commission on Terrorist Attacks (2004) The 9/11 Commission Report: Final Report of the National Commission on Terrorist Attacks upon the United States, New York: Norton.
136. Neustadt, R. E. and May, E. R. (1986) Thinking in Time: The Uses of History for Decision-Makers, New York: Free Press.
137. O'Neill, S. and McGrory, D. (2006) The Suicide Factory: Abu Hamza and the Finsbury Park Mosque, London: Harper.
138. Orlikowski, W. J. (1996) 'Improvising organizational transformation over time: a situated change perspective', Information Systems Research, 7, 63-92.
139. Ouchi, W. G. (1980) 'Markets, bureaucracies and clans', Administrative Science Quarterly, 25, 129-41.
140. Pascale, R. T. and Athos, A. G. (1982) The Art of Japanese Management, Harmondsworth:Penguin.
141. Perrow, C. (1984) Normal Accidents: Living with High Risk Technologies, New York: Basic Books.
142. Peters, T. J. (1978) 'Symbols, patterns and settings: an optimistic case for getting things done', Organizational Dynamics, 7, 2-23.
143. Peters, T. J. and Waterman, R. H. (1982) In Search of Excellence: Lessons from America's Best-Run Companies, New York: Harper & Row.
144. Pettigrew, A. M. (1972) The Politics of Organizational Decision-Making, London: Tavistock.
145. Pettigrew, A. M. (1979) 'On studying organizational cultures', Administrative Science Quarterly, 24, 570-640.
146. Pfeffer, J. (1977) 'The ambiguity of leadership', Academy of Management Review, 2, 104-12.
147. Pfeffer, J. (1981) 'Management as symbolic action: the creation and maintenance of organizational paradigms', in L. L. Cumings and B. M. Staw (eds) Research in Organizational Behavior, Greenwich, CT: JAI Press.
148. Pfeffer, J. (1992) Managing with Power: Politics and Influence in Organizations, Boston, MA: Harvard Business School Press.
149. Pfeffer, J. and Fong, C. T. (2005) 'Building organization theory from first principles: the self-enhancement motive and understanding power and influence', Organization Science, 16, 372-88.
150. Pharo, C. (1995) 'Leeson's boss at Barings quizzed', The Sun, 1 March, 1 and 7.
151. Platt, J. (1973) 'Social traps', American Psychologist, 28, 641-51.
152. Power, M. (1997) The Audit Society, Oxford: Oxford University Press.
153. Rawnsley, J. (1996) Going for Broke: Nick Leeson and the Collapse of Barings Bank, London: HarperCollins.
154. Ray, C. A. (1986) 'Corporate culture: the last frontier of control', Journal of Management Studies, 23, 287-99.
155. Reich, C. (1980) 'The confessions of Siegmund Warburg', Institutional Investor, March, 167-201.
156. Riley, P. (1983) A structurationist account of political culture', Administrative Science Quarterly, 28, 414-37.
157. Ritzer, G. (1993) The McDonaldization of Society, London: Pine Forge Press.
158. Ross, J. (1997) 'Rogue Trader: How I Brought Down Barings Bank and Shook the Financial World, by Nick Leeson, Boston: Little Brown, 1996', Academy of Management Review, 22, 1006-10.
159. Ross, J. and Staw, B. M. (1986) 'Expo 86: an escalation prototype', Administrative Science Quarterly, 31, 379-91.
160. Ross, J. and Staw, B. M. (1993) 'Organizational escalation and exit: lessons from the Shoreham nuclear power plant', Academy of Management Journal, 36, 701-32.
161. Rubin, J. Z. and Brockner, J. (1975) 'Factors affecting entrapment in waiting situations: the Rosencrantz and Guildenstern effect', Journal of Personality and Social Psychology, 31, 1054-63.
162. Rudolph, J. W. and Repenning, N. R. (2002) 'Disaster dynamics: understanding the role of quantity in organizational collapse', Administrative Science Quarterly, 47, 1-29.
163. Salancik, G. R. (1977) 'Commitment is too easy', Organizational Dynamics, 6, 62-80.
164. Salancik, G. R. and Pfeffer, J. (1977) 'Who gets power - and how they hold on to it: a strategic contingency model of power', Organizational Dynamics, 5, 2-21.
165. Sarason, V., Dean, T. and Dillard, J. F. (2006) 'Entrepreneurship as the nexus of individual and opportunity', Journal of Business Venturing, 21, 286-305.
166. Schaubroeck, J. and Williams, S. (1993) 'Type A behaviour pattern and escalating commitment', Journal of Applied Psychology, 5, 862-67.
167. Schoorman, F. D. (1988) 'Escalation bias in performance appraisals: an unintended consequence of supervisor participation in hiring decisions', Journal of Applied Psychology, 73, 58-62.
168. 'Secretary of State's case against Mr Baker', In the High Court of Justice Chancery Division, 3 March 1998.
169. 'Secretary of State's case against Mr Gamby', In the High Court of Justice Chancery Division, 3 March 1998.
170. 'Secretary of State's case against Mr Tuckey', In the High Court of Justice Chancery Division, 3 March 1998.
171. Shaw, M. E. (1981) Group Dynamics, New York: McGraw-Hill.
172. Simons, D. J. and Chabris, C. F. (1999) 'Gorillas in our midst: sustained inattentional blindness for dynamic events', Perception, 28, 1059-74.
173. Sitkin, S. B. and Pablo, A. L. (1992) 'Re-conceptualizing the determinants of risk behaviour', Academy of Management Review, 17, 9-39.
174. Sitkin, S. B. and Weingart, L. R. (1995) 'Determinants of risky decision-making behaviour:a test of the mediating role of risk perceptions and propensity', Academy of Management Journal, 38, 1573-93.
175. Smircich, L. (1983) 'Concepts of culture and organizational analysis', Administrative Science Quarterly, 28, 339-58.
176. Smith, A. (1983) The Wealth of Nations, Harmondsworth: Penguin.
177. Starbuck, W. H. (1983) 'Organizations as action generators', American Sociological Review, 48, 91-102.
178. Starbuck, W. H. (1993) 'Keeping a butterfly and elephant in a house of cards: the elements of exceptional success', Journal of Management Studies, 30, 885-921.
179. Starbuck, W. H. and Millken, F. J. (1988) 'Challenger: fine-tuning the odds until something breaks', Journal of Management Studies, 25, 319-40.
180. Staw, B. M. (1976) 'Knee-deep in the big muddy: a study of escalating commitment to a chosen course of action', Organizational Behaviour and Human Performance, 16, 27-44.
181. Staw, B. M. (1981) 'The escalation of commitment to a course of action', Academy of Management Review, 6, 577-87.
182. Staw, B. M. (1997) 'Escalation research: an update and appraisal', in Z. Shapira (ed.) Organizational Decision Making, Cambridge: Cambridge University Press.
183. Staw, B. M. and Hoang, H. (1995) 'Sunk costs in the NBA: why draft order affects playing time', Administrative Science Quarterly, 40, 474-94.
184. Staw, B. M. and Ross, J. (1987) 'Behaviour in escalation situations: antecedents, prototypes and solutions', in L. L. Cummings and B. M. Staw (eds) Research in Organization Behaviour, London: JAI Press.
185. Staw, B. M., Sandelands, L. E. and Dutton, J. E. (1981) 'Threat rigidity effects in organizational behavior: a multi-level analysis', Administrative Science Quarterly, 26, 501-24.
186. Stein, M. (2000) 'The risk-taker as shadow: a psychoanalytic view of the collapse of Barings', Journal of Management Studies, 37, 1215-59.
187. Sterba, R. L. A. (1978) 'Clandestine management in the imperial Chinese bureaucracy', Academy of Management Review, 3, 67-78.
188. Stern, C. (1997) Dr Iain West's Casebook, London: Warner.
189. Stonham, P. (1996a) 'Whatever happened at Barings? Part One: The lure of derivatives and collapse', European Management Journal, 14(2), 167-75.
190. Stonham, P. (1996b) 'Whatever happened at Barings? Part Two: Unauthorised trading and the failure of controls', European Management Journal, 14(2), 269-78.
191. Stoppard, T. (1967) Rosencrantz and Guildenstern are Dead, London: Faber & Faber.
192. Tait, N. (2005) 'Bank refused to settle BCCI case', Financial Times, 5 October.
193. Taylor, F. W. (1947) Scientific Management, New York: Harper & Row.
194. Taylor, S. E. (1980) Positive Illusions, New York: Basic Books.
195. Teger, A. I. (1980) Too Much Invested to Quit: The Psychology of the Escalation of Conflict, New York: Pergamon.
196. Treasury Committee (1996a) Barings Bank and International Regulation: Minutes of Evidence, 15 May, London: HMSO.
197. Treasury Committee (1996b) Barings Bank and International Regulation: Minutes of Evidence, 10 June 1996, London: HMSO.
198. Treasury Committee (1996c) Barings Bank and International Regulation: Minutes of Evidence, 23 July, London: HMSO.
199. Treasury Committee (1996d) Barings Bank and International Regulation: Minutes of Evidence, Mr Hopkins and Mr Baker, 23 July, London: HMSO.
200. Uzzi, B. (1997) 'Social structure and competition in inter-firm networks: the paradox of embeddedness', Administrative Science Quarterly, 42, 35-67.
201. Uzzi, B. (1999) 'Embeddedness in the making of financial capital', American Sociological Review, 64, 481-505.
202. Watson, T. (1994) In Search of Management: Culture Chaos and Control in Managerial Work, London: Routledge.
203. Watzlawick, P. (1976) How Real is Real? New York: Norton.
204. Watzlawick, P. (1988) Ultra-solutions, or, How to Fail Most Successfully, New York: Norton.
205. Watzlawick, P. (1993) The Situation is Hopeless but not Serious, New York: Norton.
206. Watzlawick, P., Weakland, J. H. and Fisch, R. (1974) Change: Principles of Problem Formation and Resolution, New York: Norton.
207. Weber, M. (1947) The Theory of Economic and Social Organization, Oxford: Oxford University Press.
208. Wechsberg, J. (1967) The Merchant Bankers, London: Weidenfeld & Nicolson.
209. Weick, K. E. (1979) The Social Psychology of Organizing, Reading, MA: Addison-Wesley.
210. Weick, K. E. (1985) 'Cosmos vs chaos: sense and nonsense in electronic contexts', Organizational Dynamics, 14, 50-64.
211. Weick, K. E. (1988) 'Enacted sense making in organizations', Journal of Management Studies, 25, 305-17.
212. Weick, K. E. (1990) 'The vulnerable system: an analysis of the Tenerife air disaster', Journal of Management, 6, 571-93.
213. Weick, K. E. (1993) 'The collapse of sense-making in organizations: the Mann Gulch disaster', Administrative Science Quarterly, 38, 628-52.
214. Weick, K. E. (1995) Sense Making in Organizations, Beverly Hills, CA: Sage.
215. Whyte, G. (1986) 'Escalating commitment to a course of action: a re-interpretation', Academy of Management Review, 11, 311-21.
216. Whyte, G. (1991a) 'Diffusion of responsibility: effects on the escalation tendency', Journal of Applied Psychology, 76, 408-15.
217. Whyte, G. (1991b) 'Decision failures: why they occur and how to prevent them', Academy of Management Executive, 5, 23-32.
218. Whyte, G., Saks, A. M. and Hook, S. (1997) 'When success breeds failure: the art of selfefficacy in escalating commitment to a losing course of action', Journal of Organizational Behaviour, 18, 415-32.
219. Wilkins, A. L. and Ouchi, W. G. (1983) 'Efficient cultures: exploring the relationship between culture and organizational performance', Administrative Science Quarterly, 28, 468-81.
220. Williamson, O. E. (1975) Markets and Hierarchies: Analysis and Anti-trust Implications, New York: Free Press.
221. Williamson, O. E. (1981) 'The economics of organization: the transaction cost approach', American Journal of Sociology, 87, 548-77.
222. Williamson, O. E. (1991) 'Comparative economic organization: the analysis of discrete structural alternatives', Administrative Science Quarterly, 36, 269-96.
223. Willmott, H. (1993) 'Strength is ignorance; slavery is freedom: managing culture in modern organization', Journal of Management Studies, 30, 515-52.
224. Wilson, D. C., Hickson, D. J. and Miller, S. (1996) 'How organizations can over-balance:decision overreach as a reason for failure', American Behavioral Scientist, 39, 995-1010.
225. Wing, R. L. (1988) The Tao of Power, London: Thorsons.
226. Wong, K. F. E. (2005) 'The role of risk in making decisions under escalation situations', Applied Psychology: An International Review, 54, 584-607.
227. Wrong, D. H. (1979) Power: Its Forms, Bases and Uses, Oxford: Basil Blackwell.
228. Yates, J. F. and Stone, E. R. (1992) 'Risk appraisal', in J. F. Yates (ed.) Risk-Taking Behavior, New York: Wiley.
229. Zander, M. (1982) Making Groups Effective, San Francisco, CA: Jossey Bass.
230. Zardkoohi, A. (2004) 'Do real options lead to escalation of commitment?', Academy of Management Review, 29, 111-19.
231. Ziegler, P (1988) The Sixth Great Power: Barings 1762-1929, London: Collins.