We document that a centralization decision-making culture of global banks affects the transmission of shocks from parent banks to their subsidiaries. Using a novel measure of integration culture of multinational banking conglomerates based on the prevalence of a language of power and authority in financial reports, we find that subsidiaries of banks with a relatively more autocratic integration culture cut …

(Image credit: Image source: Shutterstock/violetkaipa) It’s no secret that technology is fundamentally changing the way we work. Communication has been transformed by instant messaging apps, new security measures have been introduced to keep data safe, and tech innovations are proving cost-effective for many. Automation through technology is placing productivity and efficiency at the heart of organisations everywhere, and embracing it …