- Deterioration in values and integrity has moved up to a corporate level.
- Managers, in their pursuit of profits, tend to take advantage of the lag in supervisory oversight.
- Tricking the regulator becomes a corporate game.
- As margins become thinner and competition gets fiercer, banks give regulations a go by. This was proved in the LIBOR fixing scandal as also in the money laundering charges against some international banks like HSBC,
- Changing CEOs do not change work cultures - they are profit seeking corporations looking for shareholder rather than stakeholder value additions.
- As supervisors are obsessed with fine tuning their innumerable speeches, the corporations nicely cover up the tracks on misdeeds.
- Company values and ethics take a rear seat as market dynamics stall a company.
- Over riding purpose veers around to monetary results in line with the share holders expectations.
Views expressed are academic expressions.
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