Exploring Corporate Compliance - New Perspectives on how Companies Deal with Regulatory Requirements

Zwerenz, Christian (2019) Exploring Corporate Compliance - New Perspectives on how Companies Deal with Regulatory Requirements. DBA thesis, University of Gloucestershire. doi:10.46289/BUSF4856

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Abstract

Arguing that a new perspective is needed to understand how companies deal with regulation, the study follows a constructivist approach to grounded theory as advocated by Charmaz (2006) in order to explore compliance behaviour. The setting of the study is the asset management industry in Germany and the UK. A series of in-depth interviews with members of an elite of senior experts in the field of compliance was used to generate the data that form the basis for this empirical enquiry. The study includes a literature review, which presents an overview of all major schools of thought in the area of compliance-related research in general and with a specific focus on corporate compliance. While the literature review does not intend to develop any hypothesis, it illustrates different approaches that researchers in the field of corporate compliance have used: One group aims to understand what motivates compliance behaviour and another group aims to define what compliance behaviour actually means. These two approaches have informed the data analysis and have led to findings related to what motivates compliance behaviour and how compliance behaviour actually looks in regulated firms. In particular, the study has enhanced the Nielsen-Parker Holistic Compliance Model, by introducing a new Holistic Model of Motivational Forces. This new model shows that economic and social motives are mainly external forces, while normative motives are important internal forces. Furthermore, it will be illustrated, which internal and external stakeholders are mainly influenced by the various forces. In addition, the study opens “the black box of compliance behaviour” within asset management firms and provides a deep insight into how these companies deal with regulatory requirements. A commonly found compliance management system, which aims to overcome principal/agent-problems will be discussed and it will be argued that this system is prone to internal conflicts of interest. Ultimately, the study provides a new perspective on compliance behaviour of regulated companies, which can help practitioners, regulators and policymakers to develop new and better ways to ensure compliance.

Item Type: Thesis (DBA)
Thesis Advisors:
Thesis AdvisorEmailURL
Kaufman, Rudihkaufman@glos.ac.ukhttps://www.glos.ac.uk/staff/profile/rudi-kaufman/
Simpson, Colincsimpson@glos.ac.ukUNSPECIFIED
Uncontrolled Keywords: Corporate compliance; Corporate regulatory requirements; Asset management industry; Germany; United Kingdom;
Subjects: H Social Sciences > HG Finance
Divisions: Schools and Research Institutes > Gloucestershire Business School
Research Priority Areas: Applied Business & Technology
Depositing User: Susan Turner
Date Deposited: 22 Jul 2021 11:39
Last Modified: 02 Aug 2021 11:18
URI: http://eprints.glos.ac.uk/id/eprint/9986

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