Document Type : Scientific research
Authors
1 Soran Rashidi, PhD student in Finance-Financial Law, science and research branch, Islamic Azad University, Tehran, Iran.
2 Seyed Mohammadreza Miri Lavasani ,Assistant professor, department of management environmental, Faculty of natural resources and environment, science and research branch, Islamic Azad University, Tehran ,Iran .
3 Mehdi Montazer, Assistant Professor, Private Law, Faculty of Human Sciences, Damavand Branch, Islamic Azad University , Tehran, Iran.
Abstract
The purpose of this study is to identify legal risks in the banking industry and provide a model for managing these risks. In this regard, the research method is integrated (qualitative and quantitative). The qualitative part of the research was conducted using foundational data theory and through semi-structured in-depth interviews with 15 banking experts through purposive sampling. The results of the three stages of open, central and selective coding in the qualitative part state that the formation of legal risks is a function of causal conditions, background conditions and intervention. Based on this, as a result of these interactions, three general forms of risk were identified, including strategic legal risks, operational legal risks, and transactional legal risks. These risks have adverse consequences, including financial crimes, weakening of public relations, prosecution, increased financial losses, violation of laws and regulations, and decreased customer satisfaction. The quantitative part of the research was also done with the partial least squares approach. The statistical sample in the quantitative section is 100 managers and employees of the banking sector. Based on this, the designed model has been approved in the qualitative section. Therefore, according to the 17 identified strategies for managing these risks, it is concluded that by recognizing and managing legal risks in the banking sector, it is possible to prevent adverse consequences and financial losses for banks.
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