Increasing Firm Value Through Detection and Prevention of White-Collar Crime

Abstract

White-collar crime can cost a company from 1 per cent to 6 per cent of annual sales, yet little is known about the organisational conditions that can reduce this cost. I find that the role of block holders, boards of directors or CEO compensation have little impact on fraud occurrence. Instead, operational governance, including clarity of policies and procedures, formal cross-company communication and performance-based pay for both the board and employees, significantly reduces the likelihood of a crime being committed. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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