Article2021

Remediation of the challenges of reporting corporate scandals in governance

14 citations0/0 files storedInternational Journal of Ethics and Systems

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Ethics in Business and Education Corporate Governance and Financial Management Governance, Compliance, and Sustainability

Abstract

Purpose The barrage of corporate scandals has become pervasive such that it collapsed high-profile organizations worldwide. Prior studies show that reporters of corporate scandals encounter a number of challenges which discourages them from disclosing wrongful acts to appropriate authorities to effect action. Thus, this study aims to examine the remediation of the challenges of reporting corporate scandals in governance. Design/methodology/approach The study used cross-sectional survey design. Primary data was obtained from 400 employees of selected organizations and analyzed using descriptive statistics, correlation and regression techniques in Statistical Package of Social Science. Findings The results confirm that reporters of corporate scandals are confronted with challenges such as victimization, fear, suspension/dismissal, sideline and high power distance. However, these challenges can be remediated through award, code of conduct, free expression, participation/consultation and safeguard regulations to encourage and protect reporters of corporate scandals. Practical implications The findings imply that there should be an award scheme for reporters, and this must be made known to all employees. Furthermore, code of conduct for employees should include reporting of scandals together with its associated benefits and sanctions. Also, organizations would have to practice consultative/participatory governance system to minimize the effect of high power distance. Finally, regulations should be enacted and enforced to safeguard reporters of corporate scandals. Originality/value This research consolidated the challenges associated with reporting corporate scandals and provides remedies to curtail such challenges so as to encourage employees to report corporate scandals.

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References

1996Whistle-Blowing: Myth and Reality 2005The Role of Ethical Ideology in Workplace Deviance 2007Cultural Orientation and Attitudes Toward Different Forms of Whistleblowing: A Comparison of South Korea, Turkey, and the U.K.2005The Influence of Confucian Ethics and Collectivism on Whistleblowing Intentions: A Study of South Korean Public Employees 2003Culture and Whistleblowing An Empirical Study of Croatian and United States Managers Utilizing Hofstede's Cultural Dimensions 2008Confucian culture and whistle‐blowing by professional accountants: an exploratory study 2008Wrongdoing, Whistle-Blowing, and Retaliation in the U.S. Government 2003Corporate Scandal and the Theory of the Firm

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