Introduction: White-Collar and Corporate Crime in Asia

Abstract

In this introduction to this special issue of the Journal we broadly consider the problem of white-collar and corporate crime in Asia. Official reports from China show the pervasiveness of current problems and the inherent dangers underlying continued economic growth and reforms. We also consider evidence bearing on the idea that Japan's remarkably low rate of common crime is likely eclipsed by the level of white-collar and corporate crime, and briefly discuss the institutionalization of economic crime in South Korea. Issues related to the lack of study of white-collar and corporate lawbreaking in Asia are also addressed. Finally, we introduce the papers and topics of this special issue, which include comparative research on cybercrime, the enforcement of intellectual property violations, accounting fraud, financial crime, and offenses in the mutual fund industry.Keywords White-collar crime . Corporate crime . Financial fraud . Comparative criminologyThe worst global financial crisis in history serves as a backdrop to this special issue of the Journal. The specter of white-collar and corporate crime looms large as countries throughout the world grapple with depressed economic conditions that have their roots in the home loan industry and the irresponsible and often criminal behavior of Wall Street financiers. Subprime mortgages were marketed to less than creditworthy borrowers. Many of these loans were based on fraudulent financial information regarding purchasers' income and assets. They were packaged into complex securities and derivatives, and were offloaded throughout the world. Insurance on these securities in the form of credit default swaps (CDSs) constituted counter bets which were bought for pennies on the dollar. When the original loans inevitably went bad, a financial maelstrom reverberated throughout the global economy. The effects on the Asia-Pacific region included reduced demand for many of the area's major exports, particularly tourism, manufacturing, and commodities.

Authentic leader and internal whistleblowers: testing a dual mediation mechanism

“…Unethical practices were often discussed especially in organizational governance practices for several decades. It will hurt public confidence and hinder economic growth (Pontell and Geis, 2010). Whistleblowing has recognized by scholars and practitioners as an effective way to prevent and stop unethical practices in the organization (Cheng et al , 2017; Fredin et al , 2018; Liu et al , 2016).…”

Corporate crime control in China: an observation from culture perspective

“…With the open-door policy and a deepening integration of China’s economy into the world economy, China has become an important player in the world economy, and meanwhile, a magnet for corporate crime. For example, in 2005, the Chinese government reported that there were 240 major criminal violations in China’s state-owned commercial banks in the first half of that year, accounting for one-third of the country’s total bank scandals and a total loss of ¥1.6bn (US$198m) (Pontell and Geis, 2010).…”