New Horizons in Management series
Edited by Janice Langan-Fox and Cary Cooper
17 Stress among financial dealers in the City of London Howard Kahn and Cary L. Cooper For professionals in today’s financial markets, stress and its relationship to performance have become more crucial than ever. On the one hand, evidence indicates that work stress is generally increasing . . . On the other hand, professional, and especially financial, workers may be particularly prone to mental stress. (Oberlechner and Nimgade, 2005, p. 285) Oberlechner and Nimgade quote many examples of research that ‘clearly point to the possible negative effects of work stress among traders’. In this chapter, we shall look at the few reported studies of stress in the City of London, ways in which organizations can prevent and manage stress, other studies that may be of value to financial institutions in the City, and recommendations for future research. The first major study of stress among dealers in the City of London was carried out by Kahn and Cooper (1993). Before their study, the majority of publications were concerned with the operation of the financial markets, financial economics and the effects of the introduction of computers. The aim of Kahn and Cooper’s study was to examine the occupational stressors operating on those working in the financial institutions of the City of London. They were not concerned with any relationship between stress and performance. They surveyed the health of employees working in the UK clearing banks, in the London International Financial Futures Exchange, and in merchant banks and foreign-owned banks, employed in buying and selling currency,...
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