Business Commons^™

Money Laundering In The United States: A Review Of Current Regulations And Threats, Grace Hutchinson

Senior Honors Theses

Money laundering is the act of hiding illegally obtained money in the financial system. There are three stages of money laundering: placing, layering, and integration. In the United States, the Bank Secrecy Act, monitored by the Financial Crimes Enforcement Network (FinCEN), requires companies to establish an anti-money laundering (AML) compliance program and to exercise customer due diligence as preventative measures. The US government can detect money laundering through Suspicious Activity Reports, Currency Transaction Reports, and whistleblower tips. However, AML threats and vulnerabilities such as Professional Money Launderers, cryptocurrency, and the global art market allow criminals to continue to launder money …

Arbitrating Corruption, Rachel Brewster

Faculty Scholarship

One of the most controversial issues in international investment law is how arbitral panels should deal with investments tainted by corruption at their inception. The current practice of investment arbitrators is to refuse to hear investors’ claims when bribery allegations are substantiated. A recent wave of scholarship has attacked this “corruption defense,” arguing that the practice unfairly harms investors and encourages governments to maintain corrupt practices. This Essay responds to that scholarship, arguing that the current approach is the best policy choice on balance. The Essay analyzes three core policy questions at the heart of the debate: Would eliminating the …

Tracking The Donor Dollar: A Critical Examination Of Ngo Impact, Joshua Werth

Senior Honors Theses

Non-governmental organizations (NGOs) comprise the backbone of civilization. Whether intended or not, governments fail to improve social situations, financial standings, and spirituality comprehensively. NGOs attempt to cover these areas. From Angola to Zambia, countless NGOs exist around the world; however, many fail due to a misplaced focus internally on the annual donations received rather than externally on the disenfranchised. Additionally, even if NGOs manage to stay afloat, they will need help procuring funds and then distributing those resources with the most effective impact for the impoverished. The honors thesis proposed will attempt to determine more effective impact measurements for NGOs, …

The Landscape Of Public Procurement Research: A Bibliometric Analysis And Topic Modelling Based On Scopus, Abderahman Rejeb, Karim Rejeb, Andrea Appolloni, Yasanur Kayikci, Mohammad Iranmanesh

Research outputs 2022 to 2026

Purpose: The purpose of this study is to investigate the structure and dynamics of academic articles relating to public procurement (PP) in the period 1984–2022 (up to May). The researchers also intend to analyse how this knowledge domain has grown since 1984. Design/methodology/approach: A bibliometric analysis was carried out to examine the existing state of PP research. Based on 640 journal articles indexed in the Scopus database and written by 1,247 authors over nearly four decades, a bibliometric analysis was conducted to reveal the intellectual structure of academic works pertaining to PP. Findings: Findings reveal that PP research from Scopus …

How Can Blockchain Contribute To Developing Country Economies? A Literature Review On Application Areas, Tom Gillpatrick, Semra Boğa, Oncel Aldanmaz

Business Faculty Publications and Presentations

Blockchain technology originally finding applications in Fintech and supply chain management is rapidly expanding applications to other industries as well as the public sector. “Blockchain has been compared to the invention of the internet and its comprehensive impact on almost every industry.” R. Beck and B. Markey-Towler (2017) A recent study by PWC (2020) found that, “Blockchain technology has the potential to boost global gross domestic product by $1.76 trillion USD over this decade.” It has been argued that the digital revolution has favored more developed nations and that has helped create a “digital divide” with less developed nations. Business …

Escaping From The Dilemma Of Corporate Bribery, Singapore Management University

Perspectives@SMU

CUHK research finds firms located in regions with more corruption cases protect themselves by speeding the recognition of bad news and delaying the recognition of good news

How Does Corruption Affect Small And Medium Sized Businesses In Ukraine?, Anastasiia Imedidze

English Language Institute

Corruption is an impediment to the growth of both Ukrainian businesses (especially small and medium sized) and foreign investors. In the poster discussed the main obstacles that may face entrepreneurs in Ukraine.

The Challenge Of Tribal Relations In Chad: Impacts On Socioeconomic Development, Adoum K. Ey Moussa

Antioch University Dissertations & Theses

The multitude of different tribes in Africa is what makes the continent rich and diverse. At the same time, this diversity, when combined with self-centered and exclusive behaviors, can yield detrimental impact on the economy and society. This dissertation examined tribalism, defined as favoritism based on kinship, and its impacts on socioeconomic development on the Republic of Chad. Specially, this research investigated tribalism and its direct and indirect influence on corruption, human capital potential, social justice, and socioeconomic development in Chad. This mixed-methods study comprised a two-phase design. The first phase was mainly a quantitative survey that was administered to …

A Review Of The Literature On Corruption In Healthcare Organizations, Vincenzo Sforza, Riccardo Cimini, Alessandro Mechelli, Taryn Vian

Nursing and Health Professions Faculty Research and Publications

This paper provides a systematic and bibliometric review of 80 research articles on corruption in healthcare published in peer-reviewed journals between 2006 and 2017. Findings suggest that the number of studies has increased over time with a focus on low- and middle-income countries; academic researchers have published papers in a large variety of journals and have investigated different types of corruption with various methodologies. The interest is especially focused on low- and middle-income countries where corrupt behaviors are more common. The paper suggests future research directions to a dynamic research community to facilitate anticorruption actions by public authorities.

Political Connections And The Value Of Cash Holdings, Yuanto Kusnadi

Research Collection School Of Accountancy

This study examines how political connections influence the value of cash holdings in an international setting. The main finding reveals that political connections are not associated with the value of cash holdings in the overall sample. However, further analysis demonstrates that political connections are negatively associated with the value of cash holdings for firms inemerging markets and in countries with high levels of corruption. Moreover, the negative valuation of cash holdings is driven by firms that are connected through large shareholders. Overall, the findings provide new insights into the value relevance of cash holdings, especially for politically connected firms.

Venezuela's Collapsed Economy And The Resulting Effect On International Business With The United States, Sarah Caldwell

Senior Honors Theses

This thesis explores the current economic and political state of Venezuela, as well as the factors that contributed to the nation’s present challenges. By evaluating current information regarding international relations and international business affiliations, this study investigates and summarizes how Venezuela’s current instability has affected the country’s trade relations with the United States. The research found in this thesis demonstrates that the actions of Venezuela’s government have severely injured international business relations with multi-national firms operating out of the United States.

"Gatekeepers" Are Vital Participants In Anti-Money-Laundering Laws And Enforcement Regimes As Permission-Less Blockchain-Based Transactions Pose Challenges To Current Means To "Follow The Money", Sarah Jane Hughes

Articles by Maurer Faculty

Two phenomena dominate reports about blockchain-based transactions—that they will disrupt and displace legacy banking, securities, and trade intermediaries, and that they present new or greater opportunities for hiding proceeds of crimes or corruption. This essay does not deal with the former topic. Rather, the organizers of the symposium at George Mason University’s Antonin Scalia School of Law asks me to consider the latter question. It proved to be a tough assignment.

This essay looks at the separate questions of (1) the degree to which permission-less blockchain transactions will disrupt current anti-money laundering (AML) regimes and enforcement efforts, and (2) what …

Corruption And Doing Business In Emerging Markets, Nicholas A. Lash, Bala Batavia

School of Business: Faculty Publications and Other Works

Corruption is a serious international problem with many damaging effects particularly in emerging market countries. We investigated to what degree overregulation and inadequate legal institutions contributed to corruption of small and medium-sized enterprises (SME) in emerging markets. Unlike other studies, we used data from the World Bank?s Doing Business annual series which provides indicators of the regulatory and legal environments facing SME. We had three major research questions. (1) Which government obstacles to conducting business in the form of overregulation and inadequate legal institutions contribute most to corruption? (2) Which are more closely linked to corruption, excessive regulations or weak …

Corruption In The Bidding, Construction, And Organization Of Mega-Events: An Analysis Of The Olympics And World Cup, Victor Matheson, Daniel Schwab, Patrick Koval

Economics Department Working Papers

In the processes required to host a sports mega-event, corruption has been prevalent on numerous occasions, leading to unnecessary costs becoming the ultimate responsibility of a host government’s taxpayers. Little progress has been made in the prevention of such behavior. In this chapter, we examine the history of corruption in sports mega-events, namely the Olympics and World Cup, to identify parts of the bidding and preparation processes that are vulnerable to illicit behavior. We propose potential solutions to be implemented at various levels in order to prevent further corruption.

Factors Affecting Access To Finance Of Small And Medium Enterprises (Smes) Of Bangladesh, Mohammed Chowdhury, Zahurul Alam

Graduate School of Business Publications and Research

This study addresses the issues that impede SMEs of Bangladesh in obtaining finance from the financial institutions. To accomplish our goals we collected data from a sample of 86 SMEs to investigate the problems and suggest policy recommendations. We collected data by directly interviewing the respondents with the help of a questionnaire for self-guidance. We also used secondary data for this purpose. Findings revealed that the size and age of the firms, education and skills of the owners, and unfavorable credit terms such as high interest rates, lack of collateral security, corruption by bank officials etc. are some of the …

Enforcing The Fcpa: International Resonance And Domestic Strategy, Rachel Brewster

Faculty Scholarship

The Foreign Corrupt Practices Act (“FCPA”), which bans corporations from offering bribes to foreign government officials, was enacted during the Watergate era’s crackdown on political corruption but remained only weakly enforced for its first two decades. American industry argued that the law created an uneven playing field in global commerce, which made robust enforcement politically unpopular. This Article documents how the executive branch strategically under- enforced the FCPA, while Congress and the President pushed for an international agreement that would bind other countries to rules similar to those of the United States. The Article establishes that U.S. officials ramped up …

Assessment Of And Outlook On China's Corruption And Anticorruption Campaigns: Stagnation In The Authoritarian Trap, Shaomin Li

Management Faculty Publications

Since the beginning of China's economic reform in the late 1970s, corruption has been progressing alongside of economic growth. In 2012, when Xi Jinping took power, he waged the largest and longest anticorruption campaign known in the history of the Chinese Communist Party. This study provides an assessment on his campaign and projects an outlook on the future of corruption and anticorruption in China. The author argues that China will enter into an "authoritarian trap," in which the authoritarian power enables the state to effectively carry out the economic reform and achieve economic growth, while suppressing the demand for the …

The Volkswagen Scandal, Britt Blackwelder, Katerine Coleman, Sara Colunga-Santoyo, Jeffrey S. Harrison, Danielle Wozniak

Robins Case Network

Volkswagen is one of the largest automobile manufacturers in the world. For years the company has focused on producing attractive and environmentally friendly automobiles, and recent initiatives have included a project to reduce CO² production, along with advertisements claiming lower emission of greenhouse gases. The world was shocked to hear that Volkswagen had been producing diesel engines for its cars that were able to trick emissions testing equipment. The engines were producing many times the EPA standards for emissions, yet they passed emission tests. This case provides detailed information about the scandal as well as information about the history, …

Kpmg Global Anti Bribery And Corruption: Rising To The Challenge In The Age Of Globalization, Themin Suwardy, Poh Sun Seow, Pan, Gary

Research Collection School Of Accountancy

Corruption continues to corrode the global economy, 18 years after member governments of the Organization for Economic Co-operation and Development (OECD) signed a convention1 that establishes legally binding standards to criminalize the bribery of public officials. Since then, a growing number of governments have passed anti-bribery and corruption (ABC) laws. The U.S. is no longer the lone policeman on the beat; the UK and other European governments have implemented anti-corruption regulations too, as have emerging economies including China and Brazil.

Despite tougher enforcement of regulations to combat bribery and corruption, illicit payments to counter-parties continue to burden economies, diverting resources …

Political Connections And Firm Value: Evidence From The Regression Discontinuity Design Of Close Gubernatorial Elections, Quoc-Anh Do, Yen Teik Lee, Bang D. Nguyen

Research Collection Lee Kong Chian School Of Business

Using the regression discontinuity design of close gubernatorial elections in the U.S., we identify a significant and positive impact of the social networks of corporate directors and politicians on firm value. Firms connected to elected governors increase their value by 3.89%. Political connections are more valuable for firms connected to winning challengers, for smaller and financially dependent firms, in more corrupt states, in states of connected firms’ headquarters and operations, and in closer, smaller, and active networks. Post-election, firms connected to the winner receive significantly more state procurement contracts and invest more than do firms connected to the loser.

If You Can’T Take The Heat: Cultural Beliefs About Questionable Conduct, Stigma, Punishment, And Withdrawal Among Mexican Police Officers, Jorge A. Gonzalez, Lorena R. Pérez-Floriano

Management Faculty Publications and Presentations

We introduce the concept of cultural beliefs about questionable conduct, and examine how these beliefs interact with stigma consciousness to influence punishment and two withdrawal behaviors: turnover and absenteeism. We used a sample of Mexican police officers in a border city and implemented a mixed method design, paying attention to the national, occupational, and organizational context of this setting. We conducted a qualitative phase to explore the prevalence and meaning of occupational stigma and four cultural beliefs about questionable conduct: greed, toughness, wariness, and savvy. The results of this phase helped us develop a context-relevant measure of cultural beliefs about …

Good Girl, Bad Boy: Corrupt Behavior In Professional Tennis, Michael Jetter, Jay K. Walker

Economics Faculty Publications

This paper identifies matches on the male and female professional tennis tours in which one player faces a high payoff from being "on the bubble" of direct entry into one of the lucrative Grand Slam tournaments, while their opposition does not. Analyzing over 378,000 matches provides strong evidence for corrupt behavior on the men's tour, as bubble players are substantially more likely to beat better ranked opponents when a win is desperately needed. However, we find no such evidence on the women's tour. These results prevail throughout a series of extensions and robustness checks, highlighting gender differences regarding corrupt and …

Imperatives In Informal Organizational Resource Exchange In Central Europe, David Jancsics

Publications and Research

This paper challenges the mainstream social scientific approach that emphasizes “moral inferiority” in corruption and bribery in Central and Eastern Europe. We argue that in many cases, people participate in informal organizational resource exchanges not because of immorality or greed but rather because of powerful external forces. By using the case of contemporary Hungary to support this argument, this paper provides a systematic analysis of such imperatives. The findings of 50 in-depth qualitative interviews suggest that two main imperatives can be distinguished; macro-level social and meso-level organizational forces. Macro-level forces may be linked to historical paths, Hungary's socialist and pre- …

“Decentralization Dilemma In Indonesia: Does Decentralization Breed Corruption?”, Glenys Kirana

Independent Study Project (ISP) Collection

Given the pervasiveness of corruption, collusion and nepotism during Suharto’s rule (1967-1998), many people assume that the Reformasi era (1998-present) would introduce a new wave of liberal democratic values, which would consequently reduce corruption in Indonesia. This paper seeks to look at the changes in people’s socio-political incentives to corrupt given the changes in political and legal structure, analyzing it in the context of its contribution to Indonesia’s socio-economic development. Specifically, it centers on how decentralization has affected corruption in the regional districts, legislative, judiciary, and other civil society groups. It is the prominence of the corruption issue in the …

Does Corruption Promote Emigration? An Empirical Examination, Arusha Cooray, Friedrich Schneider

Faculty of Business - Papers (Archive)

This paper empirically investigates the relationship between corruption and the emigration of those with high, medium and low levels of educational attainment. The empirical results indicate that as corruption increases the emigration rate of those with high levels of educational attainment also increases. The emigration rate of those with middle and low levels of educational attainment, however, increases at initial levels of corruption and then decreases beyond a certain point. Splitting the sample by income inequality suggests that increased inequality reduces the ability to emigrate. The policy conclusion is, that government actions should focus on controlling corruption, which in turn …

Organisational Culture And Workplace Corruption In Government Hospitals, Ma. Regina M. Hechanova, Isabel Melgar, Patrick Z. Falguera, Mario Villaverde

Psychology Department Faculty Publications

This study examines corruption attitudes and norms in government hospitals in the Philippines. It tests a culture-building model that advocates communication of desired values, leadership role modelling, employee role modelling, alignment of systems and structures, training and evaluation, and reinforcement. Results reveal components that influence corruption attitudes and norms. Communication predicted individual attitudes or acceptability of corrupt acts. Leadership, systems, and controls predicted the prevalence of corrupt acts. Employee role modelling predicted both acceptability of and the prevalence of corrupt acts. In addition, there is a positive relationship between individual attitudes and organisation norms reinforcing the dyadic relationship between the …

Interdisciplinary Perspectives On Corruption, David Jancsics

Publications and Research

Corruption has become one of the most popular topics in the social scientific disciplines. However, there is a lack of interdisciplinary communication about corruption. Models developed by different academic disciplines are often isolated from each other. The purpose of this paper is to review several major approaches to corruption and draw them closer to each other. Most studies of corruption fall into three major categories: (i) rational-actor models where corruption is viewed as resulting from cost/benefit analysis of individual actors; (ii) structural models that focus on external forces that determine corruption; and (iii) relational models that emphasize social interactions and …

Do Political Instability, Terrorism, And Corruption Have Deterring Effects On Tourism Development Even In The Presence Of Unesco Heritage? A Cross-Country Panel Estimate, Ghialy Choy Lee Yap, Shrabani Saha

Research outputs 2013

This article evaluates the effects of political instability, terrorism, and corruption on tourism development, particularly UNESCO-listed heritage destinations. Using a fixed-effects panel data analysis for 139 countries over the period 1999-2009, the result reveals that a one-unit increase in political instability decreases tourist arrivals and tourism revenue between 24% and 31% and 30% and 36%, respectively. Furthermore, in the presence of heritage, terrorism has negative effects on tourism demand even though its effect is lower than that of political instability. However, the study shows that an increase in corruption index would not have an adverse influence on tourist arrival numbers, …

Bank Connection, Corruption And Collateral In China, Xiaofei Pan, Gary Tian

Faculty of Business - Papers (Archive)

Using a sample of China's listed entrepreneurial firms, we investigate the relationship between bank connection, corruption and collateral requirements. We find that when a firm is connected with banks, collateral requirements are significantly lower. We also find that bank connection is the channel through which corruption is exercised to benefit those firms with favoured loan terms. Our analysis further reveals that bank connection and corruption have jointly improved bank lending efficiency. However, these positive effects become weaker with government intervention in the form of an economic stimulus package. We argue that in an emerging market, bank connection facilitates rent seeking …

Slides: Sources Of Electrical Energy For Those Who Are Remote And Poor, Frank Barnes

2012 Energy Justice Conference and Technology Exposition (September 17-18)

Presenter: Dr. Frank Barnes, Distinguished Professor, Electrical, Computer, and Energy Engineering, University of Colorado

24 slides