Drawing on the implementation of the compliance management guidelines issued by China's SASACs, we construct a quasi-natural experiment to examine the impact of the implementation of these guidelines on the investment efficiency of SOEs. The investment efficiency of SOEs is significantly...

onstitutions as the formal foundation of a country's legal and political system have important economic and political effects. Yet, we still know little about why constitutions set effective constraints on politicians in some societies, while being largely disregarded in others. Here, we ask if...

Performance evaluation frameworks are essential for monitoring and enhancing the performance of state-owned enterprises (SOEs). Nonetheless, the existing frameworks exhibit particular deficiencies in delivering a comprehensive assessment of SOE performance or facilitating significant...

The Ethics and Compliance Committee (hereafter "ECC" or "Committee") is established pursuant to Art. 11.4 ofthe Rules of Procedure ofthe European Investment Bank (hereafter the "EIB orthe "Bank"). It shall exercise all powers attributed to it.

EFCA promotes the highest common standards for the control, inspection and surveillance under the Common Fisheries Policy (CFP). The purpose of the European Fisheries Control Agency is to ensure a high, uniform and effective level of control, inspection and compliance with the rules of the...

EFCA promotes the highest common standards for the control, inspection and surveillance under the Common Fisheries Policy (CFP). The purpose of the European Fisheries Control Agency is to ensure a high, uniform and effective level of control, inspection and compliance with the rules of the...

This study examines the emerging sustainability of metaverse ecosystems, which combine multiple virtual and augmented reality spaces where users interact. ESG criteria, which align with the Sustainable Development Goals and promote economic and financial sustainability, represent best practice...

Constitutions as the formal foundation of a country's legal and political system have important economic and political effects. Yet, we still know little about why constitutions set effective constraints on politicians in some societies, while being largely disregarded in others. Here, we ask if...

The Ethics and Compliance Committee rules and makes decisions on any conflict of interest of any member and former member (during their cooling-off period) of the Board of Directors or the Management Committee. The Committee provides opinions on any conflict of interest of a member or an...

The EIB Group Compliance Functions, composed of the EIB and EIF Compliance Functions, regularly adapt their policies, practices and systems in line with the EIB and EIF risk appetite frameworks, market trends, the regulatory landscape and best practice. Compliance is considered throughout the...

Die Frage, ob und inwieweit Unternehmen für rechts- oder regelwidriges Verhalten ihrer Lieferanten im Bereich der Nachhaltigkeit haften, gewinnt vor dem Hintergrund zunehmender regulatorischer Anforderungen und wachsender gesellschaftspolitischer Erwartungen an Bedeutung. Die vorliegende...

The principle of subsidiarity requires decisions to be taken at the lowest practical level of government without, however, jeopardising mutually beneficial cooperation at the supranational level. Recent decades have seen efforts to strengthen the subsidiarity principle in EU law, including the...

The security of critical ICT infrastructure is very important because it is directly related to the safety and lives of the people, and a successful cyber-attack can cause catastrophic damage. According to Korean laws, all critical ICT infrastructures are required to confirm the implementation...

Corporate ethics and corruption have garnered academic attention in recent decades. This study aims to gain insight into the relationship between ethical commitment and corruption and examine the moderating effect of Shariah compliance on this relationship. This study used 453 Malaysian...

This report is part of a series of regular reports published by the Eurosystem's Advisory Group on Market Infrastructures for Securities and Collateral (AMI-SeCo) covering the progress made in defining and assessing compliance with the standards included in the Single Collateral Management...

Digital platforms, now ubiquitous intermediaries in the modern economy, claim to uphold governance rules to ensure a level playing field for their participants. However, there is limited research exploring whether digital platforms fulfill this claim. Furthermore, the antecedents and...

Traditional top-down tax gap assessments identify the size of a tax gap, but not its origins. By extracting more granular information from top-down tax gap assessments, and combining this information with compliance risk management (CRM) techniques, it is possible to: improve the accuracy of CRM...

Approximately sixty percent of German goods exports are transported via sea freight. The international shipping industry is dominated by firms registered in offshore centers with little transparency. Criminals feel invited to abuse these opaque constructions for laundering their illegally...

This research investigated the behavior related to compliance with information security policy in the Yemeni banking sector by using the protection motivation theory (PMT). While PMT has been a prominent framework in understanding information security compliance, previous research has produced...

Objective: To analyse and evaluate compliance risk management in organisations operating in the transport-forwarding-logistics (TFL) sector. Research Design & Methods: A comparative analysis of the social reports of TFL companies submitted from 2019 to 2023, considering the issues of compliance...

We examine the use and usefulness of systematic compliance management in research institutes using a survey of leaders of German research institutes and expert interviews. While only a quarter of the surveyed leaders report that they have an explicit compliance management system, they report to...

This paper examines how the application of Stakeholder Theory and legal design can enhance corporate compliance with regulatory requirements, particularly within Environmental, Social, and Governance (ESG) frameworks. By utilizing visual aids, design patterns, plain language, and human-centered...

The EIB Group Compliance Activity Report for 2023 describes the EIB Group Compliance Functions' organisational set-up, activities, ongoing work to further strengthen the policy framework and the management of the risks under their remit. It also describes the EIB Compliance Function's foreseen...

This report is part of a series of regular reports published by the Eurosystem's Advisory Group on Market Infrastructures for Securities and Collateral (AMI-SeCo) covering the progress made in defining and assessing compliance with the standards included in the Single Collateral Management...

Targeted financial sanctions are routinely used to combat financial crime. As they are endorsed by the United Nations and the Financial Action Task Force, the vast majority of jurisdictions have established regulatory frameworks that make provision for targeted financial sanctions. These...

This study examines the effect of a pollution liability insurance mandate on corporate environmental compliance in Shenzhen, China. We employ a triple differences design, comparing electroplating and circuit board manufacturing firms, mandated to purchase insurance, to industries and a...

Ownership type, legal system evolution and their interaction significantly affect the incentives and behaviors of independent directors. We use the 2019 Securities Law revision as an exogenous shock to examine how state-owned enterprises (SOEs) versus non-SOEs and their independent directors...

A bonus on the fine in response to the defendant running a corporate compliance program is superfluous because working leniency programs provide all the incentives necessary to implement efficient compliance. Others opposed to such a bonus argue that unreduced fines are sufficient to incentivize...

Small and medium-sized enterprises, or "SMEs," play a major role in global economic development. This Guide aims to provide SMEs with a useful framework for developing effective Integrity Compliance Programs, or "ICPs," tailored to their own business models, budgets, and risk profiles. It...

This report is part of a series of regular reports published by the Eurosystem's Advisory Group on Market Infrastructures for Securities and Collateral (AMI- SeCo) covering the progress made in defining and assessing compliance with the standards included in the Single Collateral Management...