Documents misconduct 9 results

"A wave of financial irregularity in the USA in 2001–2 culminated in the Sarbanes–Oxley Act. A worldwide stockmarket bubble burst over this same period, with the actual market decline being proportionately more severe in Europe. Yet, no corresponding wave of financial scandals involving a similar level of companies occurred in Europe. Given the higher level of public and private enforcement in the USA for securities fraud, this contrast seems perplexing. This paper submits that different kinds of scandals characterize different systems of corporate governance. In particular, dispersed ownership systems of governance are prone to the forms of earnings management that erupted in the USA, but concentrated ownership systems are much less vulnerable. Instead, the characteristic scandal in such systems is the appropriation of private benefits of control. This paper suggests that this difference in the likely source of, and motive for, financial misconduct has implications both for the utility of gatekeepers as reputational intermediaries and for design of legal controls to protect public shareholders. The difficulty in achieving auditor independence in a corporation with a controlling shareholder may also imply that minority shareholders in concentrated ownership economies should directly select their own gatekeepers."

"L'histoire vraie de l'essence plombée, une entreprise commerciale triste et sordide, rejoindrait tranquillement et sans faire de bruit les oubliettes de l'histoire si on laissait les capitaines d'industrie en faire à leur guise. Mais l'heure est venue de raconter cette histoire. Les aventuriers de l'essence plombée ont pollué le monde, à grande échelle, pour leur profit et, dans le même temps, ils ont servi de modèle aux industries de l'amiante, du nucléaire, du tabac et des pesticides, comme à d'autres acteurs économiques sans foi ni loi, en se cachant derrière le paravent de l'incertitude scientifique afin d'échapper à l'évidence accablante que leurs produits sont dangereux. "Jamie Lincoln Kitman. Publiée dans le magazine The Nation en 2000, l'enquête de Jamie Lincoln Kitman retrace un aspect largement ignoré de l'histoire économique et industrielle du XXe siècle : l'introduction délibérée du plomb dans l'essence et les manigances des grands groupes automobiles pour imposer son usage et dissimuler au public sa dangerosité pour l'homme et l'environnement. Intrigues, manipulations, ententes secrètes, pressions, chantages et procès se succèdent tout au long du siècle jusqu'à l'interdiction récente de l'essence plombée aux Etats-Unis et dans l'Union européenne. Mais l'histoire n'est pas finie car les industriels continuent de vendre en toute connaissance de cause leur produit dans les pays en voie de développement. "

"This article analyzes the main neutralization techniques used in car manufacturers' sustainability reports to disclose on the Dieselgate scandal. We conduct a conventional qualitative content analysis of 72 sustainability reports, covering the period 2013-2017, from 15 car manufacturers that were accused of unethical behaviors related to the measurement of diesel vehicle pollutant emissions. We then present a framework based on four configurations of neutralization techniques, namely, “head in the sand,” “self-proclaimed green leadership,” “wait and see,” and “start of a new era.” We describe that the manufacturers used heterogeneous neutralization techniques. Furthermore, the sustainability reports analyzed are relatively opaque and disconnected from the accusations made against the companies, which are widely reported by external sources. This article contributes to the emerging literature on the defensive impression management practices used to rationalize corporate misconduct in this area."