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Article
Publication date: 6 March 2017

Kamil Omoteso and Hakeem Yusuf

The purpose of this paper is to contend that the dominant voluntarism approach to the accountability of transnational corporations (TNCs) is inadequate and not fit-for-purpose…

21129

Abstract

Purpose

The purpose of this paper is to contend that the dominant voluntarism approach to the accountability of transnational corporations (TNCs) is inadequate and not fit-for-purpose. The authors argue for the establishment of an international legal mechanism for securing the accountability of TNCs, particularly in the context of developing countries with notoriously weak governance mechanisms to protect all relevant stakeholders.

Design/methodology/approach

The study adopts insights from the fields of management and international law to draw out synergies from particular understandings of corporate governance, corporate social responsibility and international human rights. The challenges to governance in developing countries with regard to securing the accountability of TNCs are illustrated with the Nigerian experience of oil-industry legislation reform.

Findings

The specific context of the experiences of developing countries in Africa on the operations of TNCs particularly commends the need and expedience to create an international legal regime for ensuring the accountability of TNCs.

Originality/value

Mainstream research in this area has focused mainly on self and voluntary models of regulation and accountability that have privileged the legal fiction of the corporate status of TNCs. This paper departs from that model to argue for an enforceable model of TNC’s accountability – based on an international mechanism.

Details

critical perspectives on international business, vol. 13 no. 1
Type: Research Article
ISSN: 1742-2043

Keywords

Content available
Book part
Publication date: 18 April 2011

Abstract

Details

Governance in the Business Environment
Type: Book
ISBN: 978-0-85724-877-0

Content available
Article
Publication date: 6 March 2009

Maria Aluchna

541

Abstract

Details

Social Responsibility Journal, vol. 5 no. 1
Type: Research Article
ISSN: 1747-1117

Content available
Book part
Publication date: 17 July 2014

Abstract

Details

Ethics, Governance and Corporate Crime: Challenges and Consequences
Type: Book
ISBN: 978-1-78350-674-3

Content available
Book part
Publication date: 17 July 2014

Abstract

Details

Ethics, Governance and Corporate Crime: Challenges and Consequences
Type: Book
ISBN: 978-1-78350-674-3

Content available
Book part
Publication date: 4 March 2015

Abstract

Details

Neo-Transitional Economics
Type: Book
ISBN: 978-1-78441-681-2

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