How to Avoid Corporate Scandals and White Collar Crime

Ethical Problems in Companies
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Ethical Problems in Companies > Best Practices > How to Avoid Corporate Scandals and White Collar Crime

How to Avoid Corporate Scandals and White Collar Crime
Jaap de Jonge, Management Consultant, Netherlands
I must have written it a dozen times by now: short term value creation (listening too much to financial markets and greedy investors) is a sign of poor leadership, is also the reason behind most white collar crimes and resulting corporate scandals, and was even the reason behind the last economic downturns. White-collar crimes include things like bribery, cheating, embezzlement, fraud, money laundering. Recently there have been corporate scandals at Alstom, Odebrecht, Petrobras, Rolls-Royce, Siemens, Telia, Teva Pharmaceutical, VimpelCom, Volkswagen, etc. New research by Prof. Healy and Prof. Serafeim confirms that the root causes of these white-collar crimes and following corporate scandals isn't ineffective regulations nor compliance systems, but weak leadership and a flawed corporate culture. A culture in which making the short-term numbers trumps any concerns about how the targets are met. Not much seems to have changed since Marianne Jennings' excellent 2006 book "". While (...) Read more? Sign up for free
 

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