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1 – 5 of 5The purpose of this study is to highlight the unquantifiable importance that the UK Bribery Act (UKBA) has invigorated into commercial interactions of both natural and legal…
Abstract
Purpose
The purpose of this study is to highlight the unquantifiable importance that the UK Bribery Act (UKBA) has invigorated into commercial interactions of both natural and legal persons. This repealed all previous anti-corruption and bribery legislation in the UK. It has brought enhanced circumspection into how businesses are to be conducted with the emphasis being placed on adhering to level playing dimensions amongst the participants. The “Organisation for Economic Cooperation and Development (OECD) Pressure” can be rightly attributed to be a galvanizing ingredient that helped to propel the enactment. The UK is, perhaps, now seen as a global leader as far as anti-bribery matters are concerned with the incorporation of robust restraints glaringly introduced into the Act that has demonstrated positive emissions.
Design/methodology/approach
This study relies on both the primary and secondary legal documents in the analysis. These documents include but not limited to the Holy Bible, UKBA 2010, OECD Bribery Convention 1997, Foreign Corrupt Practices Act 1977 and case law. It is doctrinal in outlook.
Findings
There is a conspicuous indication that the Act has jolted commercial organisations to be very careful in the way they conduct their businesses in order not to fall foul of the Act. Compliance has improved tremendously. It should not be ruled out that the Act can still be tinkered with given the reactions that it has generated since coming into force.
Research limitations/implications
This study gives the policymakers an enhanced hope to be able to plan for economic growth in the knowledge that the Act is there to act as a buffer against bribery that will eventually, depending on the quantum, could lead to money laundering. This is a negative to the economy.
Originality/value
The originality of this study is embedded on the fact that the emissions that the Act has introduced should be acknowledged and adhered to irrespective of the negatives that may be attributed to the Act.
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The purpose of this paper is to bring to the fore that soft laws should be taken very seriously because they have demonstrated their importance in helping to reduce corruption and…
Abstract
Purpose
The purpose of this paper is to bring to the fore that soft laws should be taken very seriously because they have demonstrated their importance in helping to reduce corruption and money laundering. Liberalisation of the markets and globalisation, undoubtedly, enabled the increase in the volume of commercial and economic interactions among natural and legal persons. As a result, the generation of profits and losses are noticeable. However, it became evident that some of the actors involved in corruption endeavour to dock the regulatory radars by way of laundering their illicit wealth. It is as a result of this, that the authorities reacted to checkmate this by way of fashioning out legislations that have cross-border and national characteristics. However, it was as a result of the inadequacies noticeable in the Conventions and their inability to contain the malaise that the soft laws surfaced to fill the lacunae to help dampen the momentum of corruption and money laundering. These significant soft laws include but not limited to the Financial Action Task Force (FATF), Organisation of Economic Development and Cooperation (OECD), Basel Committee on Banking Supervision (BCBS), Wolfsberg Group (WG) and International Chamber of Commerce (ICC). Although reservations were raised as to the composition of their decision-making apparatus, it is evident that countries still adhere to their pronouncements by way of adaptation, and they have made significant contributions in reducing corruption and money laundering.
Design/methodology/approach
This paper relies on primary legal documentations such as but not limited to the Financial Action Task Force, Basel Committee on Banking Supervision, Organisation of Economic Cooperation and Development, Wolfsberg Group, International Chamber of Commerce, the United Nations Convention on Corruption 2003, the Foreign Corrupt Practices Act 1977 and the United Kingdom Bribery Act 2010.
Findings
There is undoubtedly glaring indications that soft laws have made very significant impact to slow down the level of corruption and money laundering in many polities. It is evidently clear that most countries usually adapt the nuances of these laws into their domestic legislations in order not to be frozen out from the financial and economic activities of the dominant wider members. Evidentially, some of these countries may have been excluded from the core decision-making apparatus of the organisations with particular reference to mostly the developing countries. On the whole, the soft laws are a welcome relief in view of the impact that they have made.
Research limitations/implications
This paper is addressed to policy makers who are concerned on the negative implications of the scourge of money laundering and corruption. They should continue to inculcate the emissions that usually come from soft laws when formulating their policies in planning for economic growth.
Originality/value
The originality of this paper lies on the fact that it is essential that we awaken the importance of soft laws in containing the malaise as it has become evident that excuses have been made that it was forced on some of the recipient participants.
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The purpose of this paper is to readily bring to the fore, the vital dimension that the Bretton Woods Institutions, exemplified by both the International Monetary Fund (IMF) and…
Abstract
Purpose
The purpose of this paper is to readily bring to the fore, the vital dimension that the Bretton Woods Institutions, exemplified by both the International Monetary Fund (IMF) and the World Bank, has brought into the global economic template to dampen the momentum of corruption and money laundering through the impact of their activities in less developed countries (LDCs). The original mandate of the two institutions was to address the balance of payments and developmental issues of countries as a result of the devastating effects of the Second World War. However, this could not be achieved in an atmosphere engulfed with corruption and money laundering. As a result, it became necessary for them to intervene albeit through direct or indirect mechanisms demonstrated by the use of soft law bodies such as Basel Committee on Banking Supervisors (BCBS) and Financial Action Task Force (FATF).
Design/methodology/approach
This paper relies on primary legal documentations such as BCBS, FATF, articles of both IMF and World Bank to mention but a few in the analysis. The paper is doctrinal.
Findings
There is undoubtedly glaring indications that through the efforts of both IMF and the Bank, tremendous inroad has been made in LDCs in modulating the tempo of the malaise.
Research limitations/implications
This paper is addressed to the authorities that are concerned about the scourge of the malaise and the impact to pay more attention to the mechanisms of soft laws used by the Bretton Woods Institutions to get their anti-corruption message through in LDCs.
Originality/value
This lies on the fact that the efforts of both IMF and the Bank have awakened the importance that should be attached to some soft laws in curtailing the issues.
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This paper aims to examine the concept of corruption and dirty money. Corruption is amorphous and lacks a congruent definition. It is mainly divided into public and private…
Abstract
Purpose
This paper aims to examine the concept of corruption and dirty money. Corruption is amorphous and lacks a congruent definition. It is mainly divided into public and private corruption. This divide, is unnecessary, given the fact that both cause incalculable damage to the markets and lager society. Globalisation has necessitated liberalisation and resulted in amalgamating both public and private ventures. This, as a result, has made it more difficult to stick to this. Pronouncements from International Chamber of Commerce (ICC) and the Law Commission’s attitude not to segregate between private and public bribery prior to the legislation of United Kingdom Bribery Act 2010, has added greater impetus to the debate. Attempts to quantify the amount of corruption and money laundering, has equally, hit a dead end. The figures being bandied about are all estimates or “guesstimates” that cannot stand the empirical test. As a result, the conjectures have strong potentials to continue for a longer time. The purpose of this paper is to bring to the fore the need to jettison the long-held perception that public and private corruption should be seen in different lights.
Design/methodology/approach
This paper relies substantially on both primary and secondary sources in the analysis.
Findings
Indicatively, the facts tilt towards the conclusion that it is impossible to actually ascertain the quantifiable amount of money that is involved in corruption and the money laundering process. It is an illusion.
Originality/value
The paper provides the platform that the time is ripe for both public and private corruption to be seen as the same thing, as they both unleash catastrophic consequences on society. The issues of globalisation and liberalisation make this inevitable.
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Fabian Onyekachi Ugwu, Ernest Ike Onyishi, Okechukwu O. Anozie and Lawrence Ejike Ugwu
In this paper, the impact of customer incivility on work engagement was investigated. The authors also explored whether supervisor positive gossip and workplace friendship…
Abstract
Purpose
In this paper, the impact of customer incivility on work engagement was investigated. The authors also explored whether supervisor positive gossip and workplace friendship prevalence moderated the impact of customer incivility on work engagement in the Nigerian context.
Design/methodology/approach
The authors used a time-lagged design to collect data from 258 frontline casual dining restaurant employees across city centers in South-eastern Nigeria who completed Time 1 and Time 2 paper surveys after a one-month interval.
Findings
Structural equation modeling (SEM) revealed that while customer incivility was negatively lx`inked to work engagement, supervisor positive gossip and workplace friendship prevalence were positively linked to work engagement. It was also found that both supervisor positive gossip and workplace friendship prevalence moderated the negative connection between customer incivility and work engagement.
Practical implications
One proactive way to forestall the negative impact of customer incivility on work engagement is for managers to devise approaches to decrease the impact of uncivil customer behaviors, such as developing an atmosphere that engenders friendship and speaking positively to subordinates about other employees' work behaviors.
Originality/value
Although increased scholarly attention has been paid to workplace incivility, customer incivility has not been sufficiently addressed. Earlier research on workplace gossip is influenced by the widely-held belief that gossip is often negative, with far less attention given to the sunny side of gossip. This study is one of the earliest efforts to examine the moderating roles of supervisor positive gossip and workplace friendship prevalence in the negative link between customer incivility and work engagement in the hospitality industry.
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