Blue-Collar Crime and Finance

Bernales, Alejandro; Beuermann, Diether; Cumming, Douglas J.; Olid, Christian

doi:10.1016/j.intfin.2022.101732

Cited by 3 publications

(3 citation statements)

References 71 publications

(63 reference statements)

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“…Increased levels of corruption in government organs increase white-collar crimes. Bernales et al (2023), having studied the reputational and persistent costs of blue-collar crime, state that blue-collar crime might be systematically correlated with other internal crimes such as white-collar crimes or leaks about fraudulent activities. They argue that a firm paid bribes to public officials to obtain public services in a timely fashion because bribery is a type of white-collar crime.…”

Section: Discussionmentioning

confidence: 99%

“…Schoultz and Flyghed (2020) point out the importance of corporate structures to deter crimes within organisations. Bernales et al (2023) find that white-collar crimes affect the performance and growth of firms. Bhattacharya and Marshall (2012), having studied a sample of all top management who were indicted for illegal insider trading in the USA for trades during the period 1989-2002, find that indictments are concentrated in the "richer" strata after controlling for firm size, industry, firm growth opportunities, executive age, the opportunity to commit illegal insider trading and the possibility that regulators target the "richer" strata.…”

Section: Introductionmentioning

confidence: 97%

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Structural deterrents of combating white-collar money laundering in emerging economies: evidence from Sri Lanka

Jayasekara

Perera

Ajward

2023

JMLC

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Purpose The purpose of this paper is to discuss how agency conflicts between people and main government organs affect the combatting ability of white-collar money laundering in an emerging economy. Design/methodology/approach This paper uses a qualitative design under the philosophy of interpretivism. The case study research strategy is used inductively to investigate how structural limitations affect white-collar money laundering. Findings This study reveals that serious agency conflicts exist between public and main government organs which are detrimental to the rights of people to enjoy a crime-free society. First agency conflict of people and legislature intensifies as a result of limited understanding of the legislature and failure to take precautionary actions to develop an anti-money laundering and countering the financing of terrorism (AML/CFT) regime with evolving global standards. This delay has resulted in identifying Sri Lanka as a deficient AML/CFT regime twice. The second conflicts arise between people and the executive which is a serious conflict due to misuse of statutory power and failure to perform duties. The independence and integrity of administrative authorities who perform executive functions were inherent problems of implementing a sound AML/CFT regime. Lack of monitoring, nonavailability of an independent audit and inappropriate reporting channels were other encouraging factors of administrative organs to misuse statutory power. The third conflict between people and the judiciary was not intensified because the function was not so exposed to create agency conflicts. After all, an adequate number of cases had not proceeded to the judiciary due to inherent limitations as a result of intensified first two agency conflicts. The agency conflicts have intensified over the years and AML/CFT regime has been ineffective as a result of limited influence and understanding of the principal, people. Therefore, the principal has to influence the agents to make reforms in the AML/CFT regime to make the country a white-collar crime-free country. Research limitations/implications This study uses a case study strategy to assess the context of Sri Lanka as an emerging economy. It is recommended to take into consideration the contextual facts when the findings are applied to other jurisdictions. Originality/value This paper is an original work of the authors which discusses how agency conflicts arise between people and three main government organs in implementing a sound AML/CFT regime in Sri Lanka as an emerging economy.

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Section: Discussionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 97%

Structural deterrents of combating white-collar money laundering in emerging economies: evidence from Sri Lanka

Jayasekara

Perera

Ajward

2023

JMLC

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“…Reward-based crowdfunding can be considered the main form of crowdfunding, whereby backers will actively participate in the product-development process along with investment (Pinkow, 2023). For developing countries, crowdfunding is increasingly becoming a major source of funding for entrepreneurs to start and grow their own businesses (Alsagr et al, 2023; Bagheri et al, 2019; Gama et al, 2023). According to World Bank projections, the crowdfunding investment amount in China is expected to reach between $46 billion and $50 billion by 2025.…”

Section: Introductionmentioning

confidence: 99%

Rational or Impulsive? Early Backers’ Investment Behavior in Agri-Food Crowdfunding from 4P–4C Perspectives

2023

SAGE Open

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Lack of funds and poor agricultural-product sales are the main problems that limit agricultural development, which can be well solved by agri-food crowdfunding. How to attract more backers to invest in the early stage of a project is extremely crucial for agri-food crowdfunding. Using a unique sample comprising 1,136 agri-food crowdfunding campaigns on Crowdfunding Net, among the most influential crowdfunding platforms in China, a model is constructed that includes the five dimensions of people, product, promotion, cost, and convenience. Drawing on the classic 4P and 4C marketing theories, multiple regression analysis is used to examine the mechanism through which a project’s presentation information influences the number of early backers. The results reveal that the factors in the three dimensions of people, product, and convenience positively impact the number of early backers in agri-food crowdfunding. In contrast, the cost-dimension factor is negatively related to the number of early backers. The promotion-dimension factors fail to pass the significance test. Additionally, the number of first-day backers partially moderates the effect of the initiator category, investment threshold, and lottery on the number of early backers. The effects of the trademark registration and number of reward categories on the number of early backers are completely moderated by the number of first-day backers. The evidence also shows that early backers’ rational investment decisions are based on reliable information and lucrative rewards. The research conclusions offer practical enlightenment for initiators, crowd-funding platforms, and regulators in the agri-food crowdfunding industry.

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Network linkages between housing prices and crime risk: evidence from 26 regions in Türkiye

Yıldız,

Shahzad

2024

Crime Law Soc Change

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Blue-Collar Crime and Finance

Cited by 3 publications

References 71 publications

Structural deterrents of combating white-collar money laundering in emerging economies: evidence from Sri Lanka

Structural deterrents of combating white-collar money laundering in emerging economies: evidence from Sri Lanka

Rational or Impulsive? Early Backers’ Investment Behavior in Agri-Food Crowdfunding from 4P–4C Perspectives

Network linkages between housing prices and crime risk: evidence from 26 regions in Türkiye

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