scholarly journals Human resource reporting: Implications for corporate governance

2021 ◽  
Vol 5 (5) ◽  
pp. 26-36
Author(s):  
Hugh Grove ◽  
Maclyn Clouse ◽  
Tracy Xu

The major research question of this study is how boards of directors can monitor human resource reporting, especially with emerging reporting requirements from the U.S. Securities and Exchange Commission (SEC) for all domestic and foreign public companies listed on U.S. stock exchanges. Boards can develop advising and monitoring practices to help their companies meet the SEC’s human capital reporting requirements, as shown by the following topics discussed and analyzed in this paper: criticisms of the modernization of Regulation S-K by using principle-based versus rules-based disclosures; a way forward on the modernization of Regulation S-K; sustainability accounting standards; human resource accounting; board responsibility for white-collar crime risk; and collegiality conundrums. We find that a possible way forward in modernizing human capital reporting would be to combine a rules-based approach with a principles-based approach. We recommend boards to closely follow the United Nation’s Sustainable Development Goals and create opportunities to steer their companies towards a sustainable future. We also research the newly developed accounting standards to address human resource risks and promote sustainable human capital reporting. In addition, we identify the strategies for boards to monitor the risk of white-collar crime and highlight the balance between collegiality and effectiveness in the boardroom. Future research could use case studies and interviews of company boards to investigate how they have developed strategies and procedures to facilitate human resource management and reporting

2017 ◽  
Vol 18 (3) ◽  
pp. 41-43
Author(s):  
Bradley J. Bondi ◽  
Charles A. Gilman ◽  
Kimberly C. Petillo-Décossard ◽  
John J. Schuster ◽  
Sara Ortiz

Purpose To explain a recent US Securities and Exchange Commission (SEC) administrative proceeding targeting a broker-dealer as part of the Commission’s continuing efforts to enforce anti-money laundering (AML) regulations and reporting. Design/methodology/approach This article explores the factual and legal contours of a specific SEC administrative proceeding to better understand the affirmative steps the Commission expects of financial service providers as it relates to AML activities and reporting. Findings Given the SEC’s current enforcement focus, it is critical that financial institutions conduct their activities with a clear understanding of the AML regulations, investigatory expectations and related reporting requirements associated with the provision of brokerage and advisory services to US clients and customers. Originality/value This article highlights the SEC’s continuing interest in broker-dealer AML policies and compliance and provides analysis from experienced lawyers with expertise in financial services, securities and white collar crime.


Author(s):  
Michael Levi

White-collar crime has not developed in a linear way as an academic subject. Its definition remains contested, between those who consider that, when deciding on the boundaries of what we can explain, we cannot depart far from the decisions of criminal courts and, at the other extreme, those who substitute “social harm” for “crime” and see the theoretical task as explaining why criminal justice reacts far more severely to the less socially harmful acts. Most scholars are somewhere closer to the legalistic view, except that they substitute convictability for conviction, though convictability may be disputable except where there is a Deferred Prosecution Agreement or an agreed statement by the corporation. Individual, organizational, and cultural explanations of white-collar offenses are considered and are complementary, depending on the research question to be explored. Incomplete or distorted datasets are commonplace, but the increasing number of life course studies of white-collar criminality show that serious white-collar (and organized crime) offending typically has a later onset than other crimes. This may be due to established professionals being recruited as ‘enablers,’ and/or that a certain maturity is necessary to act as a credible borrower or investment intermediary, depending on the crime. An important dimension of white-collar crime explains the decisions about formal and informal social control as ways of dealing with misconduct. These decisions range from detailed analysis of individual cases and patterns in a financial and/or industrial/service sector to macro explanations such as intentional or neglectful police/prosecutor resource starvation and protection of elites in neo-liberal societies. Some of the strategies are affected by whether regulator/regulatee relationships are repeat players progressing up the regulatory pyramid, or whether they are outsiders or intentional harm-doers, who may be less likely to be deterred or reformed by engagement with the regulators.


2016 ◽  
Vol 57 (3) ◽  
pp. 385-415 ◽  
Author(s):  
Arjan Reurink

AbstractDespite the ubiquity of illegality in today’s financial markets and the questions this raises with regard to the social legitimacy of today’s financial industry, systematic scrutiny of the phenomenon of financial crime is lacking in the field of sociology. One field of research in which the illegal dimensions of capitalist dynamics have long taken center stage is the field of white-collar crime research. This article makes available to economic sociologists an overview of the most important conceptual insights generated in the white-collar crime literature. In doing so, its aim is to provide economic sociologists with some orientation for future research on financial crime. Building on the insights generated inwccliterature, the article concludes by suggesting a number of promising avenues for future sociological research on the phenomenon of illegality in financial markets.


2021 ◽  
Vol 10 (2, special issue) ◽  
pp. 258-268
Author(s):  
Hugh Grove ◽  
Maclyn Clouse ◽  
Tracy Xu

The major research question of this paper is to analyze climate change risk as a challenge to corporate governance. Climate action failure was the environmental risk most frequently listed in the top ten country risks. It also becomes a major reason that many companies are taking their own initiatives on climate change action which poses an imminent challenge for corporate governance as boards of directors track and assess such initiatives by their own companies. Boards can play a key role in guiding their organizations into the next new normal in the wake of global pandemic, economic disruptions, and ongoing climate change problems. This paper identifies and studies the corporate governance risks and opportunities related to global climate change risk and provides recommendations to boards of directors. The major sections of this paper are global climate change risks, corporate climate change pledges, climate-related financial disclosures, major topics in the Global Climate Change report, whether companies are ready to manage major climate change risks and opportunities, climate-related investment benchmarks, and conclusions. Future research could investigate this climate change risk challenge with case studies or empirical studies.


2019 ◽  
pp. 1110-1132
Author(s):  
Marko Kesti ◽  
Jaana Leinonen ◽  
Antti Syväjärvi

The objectives of the article are, to illustrate the complex dimensions of the relationship between human capital management and organizational performance and to provide insight into new methods for organization development. Methods are a combination of several research areas, including system intelligence, tacit signals, quality of the working life index and the theory of human capital production function. This article presents a holistic approach of multi-disciplinary research that emphasizes the complexity of HRM-Performance and explains why, in some cases, human resource development increases business performance, and in other cases not. Development complexity is more difficult when organizational performance is measured by monetary value. The article presents human capital intangible assets' connection to monetary scorecards using human capital production function, which explains and also makes it possible to predict human resource development payback. This article's methods form a skeleton for future research and give fundamentals for effective organization human capital performance development.


Author(s):  
Marko Kesti ◽  
Jaana Leinonen ◽  
Antti Syväjärvi

The objectives of the article are, to illustrate the complex dimensions of the relationship between human capital management and organizational performance and to provide insight into new methods for organization development. Methods are a combination of several research areas, including system intelligence, tacit signals, quality of the working life index and the theory of human capital production function. This article presents a holistic approach of multi-disciplinary research that emphasizes the complexity of HRM-Performance and explains why, in some cases, human resource development increases business performance, and in other cases not. Development complexity is more difficult when organizational performance is measured by monetary value. The article presents human capital intangible assets' connection to monetary scorecards using human capital production function, which explains and also makes it possible to predict human resource development payback. This article's methods form a skeleton for future research and give fundamentals for effective organization human capital performance development.


2021 ◽  
Vol 5 (1) ◽  
pp. 22-30
Author(s):  
Hugh Grove ◽  
Maclyn Clouse ◽  
Tracy Xu

The major research question of this paper is how boards of directors’ practices and performance can facilitate the new finance focus on sustainable, long-term value creation. This new finance focus presents opportunities to strengthen corporate performance which enhances the gatekeeper role of boards of directors in helping both shareholders and stakeholders. The following topics are discussed and analyzed in this paper: potential examples, strategic analysis, sustainability analysis, and the circular economy. We discovered several guiding principles based on previous literature, regulatory proposals, and industry practices. Effective boards of directors need to be engaged in sustainable strategy formation and make sure long-term sustainable value creation continues to develop and does not erode. They need to have relevant industry knowledge, diverse expertise, and a proclivity for thinking independently in both good times and bad times, such as the coronavirus pandemic. They also need to develop a clear understanding of sustainable business strategies and how long-term value is created and driven through innovation and the deployment of resources. In addition, we find that boards can assess and monitor ways to measure and manage long-term value creators and drivers and encourage their companies to become involved in the circular economy with its $4.5 trillion investment opportunities. Future research could use case studies and board interviews to investigate boards of directors’ practices and performance, concerning how boards have helped develop strategies and procedures to facilitate this new finance focus on long-term sustainable value creation.


Author(s):  
Andreas Schneider

This research paper contributes to the literature of deterrence theory in general, and in particular with respect to white-collar crime, offering valuable inside by using a unique data set of fraud and violation of trust incidents for Paraguay. Descriptive evidence show a clear and continuous misallocation of funds and human capital, and therefore providing less efficient services for the public. Regression analysis suggests that clearance rate exerts a highly significant effect in deterring fraud but results are not clear for violation of trust incidents. Despite the limitations of available data, results confirm deterrence theory in Paraguay. However, to more than two-thirds of victims, not even the attempt was made to seek justice. As a side-result, it seems that a soft on crime strategy, induced from the former German penal code, has led to an increasing share of pre-trial diversion and therefore enhancing white-collar crimes like fraud and violation of trust due to impunity.


2005 ◽  
Vol 8 (4) ◽  
pp. 62-78 ◽  
Author(s):  
Annette D. Beresford ◽  
Christian Desilets ◽  
Sandra Haantz ◽  
John Kane ◽  
April Wall

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