Compliance and Corporate Performance: The Impact of Compliance Coordination on Corporate Performance
The term compliance has been used and discussed extensively among the business community in the past years. The number of laws, codes, and standards has increased continuously. Sanctions for corporations, managers and employees have been toughened. Firms are faced with a large number of obligatory and voluntary compliance standards. Based on economic and managerial theories, Dirk Pupke discusses the relationship between compliance and corporate performance. He derives coordination mechanisms and concludes that the hybrid compliance approach is the best way for companies to deal with these challenges. The empirical study conducted by the author brings additional insights into the topic and based on the scope of international enterprises confirms the anticipated benefits of a hybrid compliance approach. This work is an innovative study of compliance and its impact on corporate performance. It brings a structured approach to compliance and offers unique results on compliance management. It is an essential reading for researchers and students in the fields of finance and management, and gives interesting insights to compliance managers.
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achieve agent AMR Research analyzed audit Basel II behaviour business processes chapter COBIT communication completely compliance activities compliance coordination approach compliance costs compliance framework compliance function compliance level compliance officer compliance organization compliance process compliance program compliance regulations compliance requirements compliance responsibilities compliance standards Compliance strategy includes Compliance tools comply components coordination form coordination mechanisms corporate governance corporate performance COSO decision defined definition effectiveness efficient Elements Explanation employees ensure example explanatory variables external performance factor analysis Figure firm’s firms forms of coordination HIPAA hybrid compliance approach hypothesis identified impact on corporate implementation increase investors means monitoring and reporting non-compliance OOOOOO organizational structure policies positive influence PricewaterhouseCoopers problem procedures regulatory response variable risk management Sarbanes-Oxley Act SEC listed shows significant specific stakeholders Strategy objectives sustainment phase Table targets term compliance thesis transaction costs transaction-cost theory univariate Williamson WpHG