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Article
Publication date: 8 February 2021

Camillus Abawiera Wongnaa, Michael Nyarko, Monica Addison and Dadson Awunyo-Vitor

A key strategy in the policy of saw millers and artisanal millers supplying the domestic market with legal and sustainable lumber is the transformation of chainsaw operators into…

Abstract

Purpose

A key strategy in the policy of saw millers and artisanal millers supplying the domestic market with legal and sustainable lumber is the transformation of chainsaw operators into legal artisanal millers to stop the production of illegal timber and supply only authorized wood to local trade points. The challenge, however, is how to develop the concept of its viability and acceptability to the chainsaw operators. Specifically, existing and potential investors’ knowledge about the possible costs and revenue is non-existent. This study aims to examine the financial and economic viability of the artisanal timber milling (ATM) business in rural Ghana.

Design/methodology/approach

Using data from three operational artisanal milling companies in Ghana, net present value, internal rate of return, profitability index and payback period were used in analyzing the viability of artisanal timber milling.

Findings

The results showed that the ATM business is financially and economically viable, attractive and profitable.

Social implications

ATM business has the potential to create more jobs in the timber industry, reduce illegalities in the forestry sector and improve the living standard of individuals used by the sector.

Originality/value

As part of ATM’s medium and long-term strategies, the study encourages stakeholders to consider assisting existing and potential actors who have the passion to venture into this business to acquire concessions and financial support from financial institutions.

Details

Journal of Enterprising Communities: People and Places in the Global Economy, vol. 16 no. 2
Type: Research Article
ISSN: 1750-6204

Keywords

Article
Publication date: 1 March 1999

Marie McKendall, Carol Sánchez and Paul Sicilian

This paper examined the effects of corporate governance structures on the incidence of corporate illegality by analyzing the relationship between environmental violations and…

Abstract

This paper examined the effects of corporate governance structures on the incidence of corporate illegality by analyzing the relationship between environmental violations and several dimensions of corporate board structure. Results demonstrated that the value of stock owned by corporate officers and directors was positively and significantly associated with serious environmental violations. Outsider dominance, joint CEO‐Chairpersons, social responsibility committees, and attorneys on boards were not significantly related to corporate illegal behavior. The control variables of size, industry profitability, firm profitability, and industry concentration were all significantly related to environmental violations. The findings involving board structure cast doubt on the efficacy of many popular corporate governance reform proposals.

Details

The International Journal of Organizational Analysis, vol. 7 no. 3
Type: Research Article
ISSN: 1055-3185

Open Access
Book part
Publication date: 16 August 2023

Meropi Tzanetakis and Stefan A. Marx

This chapter examines how darknet drug marketplaces operate within platform capitalism. While capitalist power relations remain underexplored in research on digital drug markets…

Abstract

This chapter examines how darknet drug marketplaces operate within platform capitalism. While capitalist power relations remain underexplored in research on digital drug markets, the analysis shows that the basic foundation of cryptomarkets relies on the infrastructure of platform capitalism. The authors use the concept of platform capitalism to explore cryptomarkets in an ideology-critical way. Platforms are infrastructure for the mediation of buyers and vendors; however, they are designed to extract data on the activities of their users. Platform capitalism refers to the process by which the vast collection of user data feeds into the accumulation of capital. The authors use a dialectical method to examine the constellation of digital drug platforms by disclosing a threefold contradiction: state control and self-regulation; visibility and concealment; and legality and illegality. The analysis reveals that darknet drug platforms make a profit not only from the trade of illicit drugs and the collection of user data, but also based on the illegal status of drugs, the associated ideology, and the closed ecology of darknet platforms. Power relations in cryptomarkets thereby mimic those observed in platform capitalism in general. Finally, the authors discuss the implications of platform capitalism for online drug markets.

Details

Digital Transformations of Illicit Drug Markets: Reconfiguration and Continuity
Type: Book
ISBN: 978-1-80043-866-8

Keywords

Article
Publication date: 16 June 2023

Madeleine Pullman, Lucy McCarthy and Carlos Mena

This pathway paper offers research guidance for investigating illegal supply chains as they increasingly threaten societies, economies and ecosystems. There are implications for…

Abstract

Purpose

This pathway paper offers research guidance for investigating illegal supply chains as they increasingly threaten societies, economies and ecosystems. There are implications for policy makers to consider incorporating supply chain expertise.

Design/methodology/approach

The authors’ work is informed by the team's previous and ongoing studies, research from fields such as criminology, investigative journalism and legal documents.

Findings

Illegality occurs in many supply chains and consists in multiple forms. Certain sectors, supply chain innovations, longer supply chains, and heterogeneous regulations and enforcement exacerbate illegal activities. But illegal activity may be necessary for humanitarian, religious or nationalistic reasons. These areas are under explored by supply chain researchers.

Research limitations/implications

By encouraging supply chain academics to research in this area as well as form collaborative partnerships outside of the discipline, the authors hope to move the field forward in prevention as well as learning from illegal supply chains.

Practical implications

Practitioners seek to prevent issues like counterfeiting with their products as well as fraud for economic and reputational reasons.

Social implications

Governments strive to minimise impacts on their economies and people, and both governments and NGOs attempt to minimise the negative social and environmental impacts. Policy makers need supply chain researchers to evaluate new laws to prevent enabling illegality in supply chains.

Originality/value

As an under-explored area, the authors suggest pathways such as partnering with other disciplines, exploring why these supply chains occur, considering other data sources and methodologies to interdict illegality and learning from illegal supply chains to improve legal supply chains.

Details

International Journal of Operations & Production Management, vol. 44 no. 1
Type: Research Article
ISSN: 0144-3577

Keywords

Article
Publication date: 17 February 2012

Mohamad Jamal Zeidan

The purpose of this paper is to examine the effects of corporate illegality on financial performance within the banking industry, in order to assess whether the regulatory…

1567

Abstract

Purpose

The purpose of this paper is to examine the effects of corporate illegality on financial performance within the banking industry, in order to assess whether the regulatory framework is effective in curbing violations.

Design/methodology/approach

The operating performance of 84 publicly traded US banks that were subject to enforcement actions from US regulatory authorities over a 20‐year period were examined. Performance of each violating bank was analyzed several quarters after each violation and compared to a performance benchmark of non‐violating competitors.

Findings

Contrary to prior studies that show a negative effect of illegality on performance, the results of this investigation failed to show any significant and sustained effect of enforcement actions. This could be due to the unique situation of the banking industry. Nevertheless, the degree of impact depended on firm attributes, as smaller and riskier firms were affected more than others.

Research limitations/implications

The paper is restricted to the US market, which is characterized by a special regulatory framework. Future research could investigate the issue in other markets. Also, this study does not differentiate with respect to the type of violation or seriousness of offense. Future studies could control for those issues.

Practical implications

The results of this study shed some insight on the effectiveness of regulations in the banking industry and suggest that regulators and policy makers should tighten‐up the sanctions and speed‐up the process.

Originality/value

This paper differs from other studies that investigate the effect of illegality on financial performance by focusing on a single and highly regulated industry that has unique characteristics.

Details

Journal of Financial Regulation and Compliance, vol. 20 no. 1
Type: Research Article
ISSN: 1358-1988

Keywords

Article
Publication date: 19 October 2012

Dmitry Khanin and Raj V. Mahto

Companies vary in their attitudes toward regulatory (ethics) risk. The purpose of this study is to assess how regulatory risk‐averse, risk neutral and risk seeking companies…

1192

Abstract

Purpose

Companies vary in their attitudes toward regulatory (ethics) risk. The purpose of this study is to assess how regulatory risk‐averse, risk neutral and risk seeking companies employ distinct managerial risk and slack accumulation strategies and differ in their auditor scores and bankruptcy risk.

Design/methodology/approach

The authors test their hypotheses using the GAO‐assembled database of financial restatements that allows contrasting voluntary restaters (firms that restated without being prompted either by external auditors or the SEC) and forced restaters (firms requested to restate by the SEC or external auditors). The paper uses logistic regression for comparing different groups of firms to test the hypotheses.

Findings

The results of the data analysis mostly supported the hypotheses. The findings suggest that a firm's attitude towards regulatory risk is associated with organizational slack (available and potential), risk (managerial and organizational), and auditor's rating.

Research limitations/implications

Some limitations of the study are: use of cross sectional data does not allow testing causal effects, relying on GAO office for categorizing firms in different regulatory category introduces the possibility of bias in analysis, and use of only North American firms in the sample limits the generalizability of the findings.

Practical implications

Firms' attitudes toward regulatory risk and their respective risk and slack management strategies could be used to detect fraud early on before such firms transgress from the realm of legality to borderline legality and illegality.

Originality/value

Some contributions of the study are: it shows that a firm's fraud tendency or regulatory risk behavior is associated with the type of slack accumulated and available in the firm, regulatory risk‐averse companies take less managerial and bankruptcy risks, and earn higher evaluations from auditors, it demonstrates that regulatory risk‐averse companies differ from regulatory risk neutral companies.

Details

International Journal of Accounting & Information Management, vol. 20 no. 4
Type: Research Article
ISSN: 1834-7649

Keywords

Article
Publication date: 17 October 2008

Michelle Berzins and Francesco Sofo

The purpose of this paper is to show that cartel conduct is a common example of non‐compliance with competition laws and, in order to generate insight and lessons regarding

Abstract

Purpose

The purpose of this paper is to show that cartel conduct is a common example of non‐compliance with competition laws and, in order to generate insight and lessons regarding aspects of corporate governance, two areas of cartel behaviour are to be analysed. The first is the extent to which employees of organisations were aware of the seriousness and illegality of their cartel conduct, and the second is the extent to which determining bodies acknowledged the presence or absence of compliance strategies within corporations being prosecuted for cartel conduct.

Design/methodology/approach

A measurement matrix devised from the literature was used as a methodological framework through which content analysis was conducted to explore whether cartel offenders were aware of the illegality of their behaviour and whether the presence or absence of compliance strategies was acknowledged by the court. In total, 69 publicly available investigatory outcomes sourced from 11 different jurisdictions were analysed.

Findings

The findings suggest a need for competition regulators to educate and raise the awareness of business people to improve understanding of the deleterious effects of cartels and of the provisions of relevant legislation in order to achieve better corporate governance and observance of enacted laws.

Originality/value

In 71 per cent of matters examined, cartel participants were found to be aware of the illegality of their behaviour and, whilst 45 per cent of Australian companies had no compliance programme in place to begin with, some other companies had established compliance programmes which were blatantly ignored by employees.

Details

Corporate Governance: The international journal of business in society, vol. 8 no. 5
Type: Research Article
ISSN: 1472-0701

Keywords

Article
Publication date: 1 February 2000

John C. Cross and Bruce D. Johnson

Attempts to theorize the relationship between the informal and the illegal sectors of the economy. States that there are significant behavioural similarities. Proposes an emergent…

Abstract

Attempts to theorize the relationship between the informal and the illegal sectors of the economy. States that there are significant behavioural similarities. Proposes an emergent paradigm based on dual labour market theory to explain the similarites and differences in order to guide future research in each area. Applies the theory to the production and marketing of crack cocaine and shows how the model helps us to understand issues of exploitation and risk makagement within the drug market.

Details

International Journal of Sociology and Social Policy, vol. 20 no. 1/2
Type: Research Article
ISSN: 0144-333X

Keywords

Article
Publication date: 1 April 2004

Georgios I. Zekos

Investigates the differences in protocols between arbitral tribunals and courts, with particular emphasis on US, Greek and English law. Gives examples of each country and its way…

9284

Abstract

Investigates the differences in protocols between arbitral tribunals and courts, with particular emphasis on US, Greek and English law. Gives examples of each country and its way of using the law in specific circumstances, and shows the variations therein. Sums up that arbitration is much the better way to gok as it avoids delays and expenses, plus the vexation/frustration of normal litigation. Concludes that the US and Greek constitutions and common law tradition in England appear to allow involved parties to choose their own judge, who can thus be an arbitrator. Discusses e‐commerce and speculates on this for the future.

Details

Managerial Law, vol. 46 no. 2/3
Type: Research Article
ISSN: 0309-0558

Keywords

Open Access
Article
Publication date: 11 July 2017

Pietro Saitta

The purpose of this paper is to explore the links between “informal economies” and the concept of “resistance.” The author argues that the petty illegalities of the dominated and…

1985

Abstract

Purpose

The purpose of this paper is to explore the links between “informal economies” and the concept of “resistance.” The author argues that the petty illegalities of the dominated and subaltern classes should be seen in their connections to the illegalism of the élites and the state. Within this framework, the informal economy is seen as both the outcome of a set of material conditions aiming at the subordinated inclusion of entire classes of citizens, and the mark of the willingness by these same subalterns to evade the bonds imposed on them by the legislations and the social hierarchies.

Design/methodology/approach

A review of the ethnographical and socio-economical literature on the issue of informality, accompanied by ex-post reflections on pertinent studies conducted in the past by the researcher.

Findings

Against the dominant public rhetoric, the informal economy is here seen as a particular space of enactment by the dominated and subalterns aimed at self-producing paradoxical forms of inclusion within social contexts characterized by barriers to access integration within mainstream society. It is argued that in consideration of the power relations that structure the “field,” researchers themselves become part of the struggle counterpoising individuals and institutions, and should thus make a choice among the clashing parties.

Originality/value

The paper draws on a vast body of literature that appears to go in the same direction. However, it radicalizes the instances proposed by previous authors and studies, and draws conclusions concerning the nature of the object and the ethics of research, that are opposed to the prevalent approaches to the subject.

Details

International Journal of Sociology and Social Policy, vol. 37 no. 7/8
Type: Research Article
ISSN: 0144-333X

Keywords

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