Corruption in least developed countries and ESG (responsible) investment: Standard Chartered Bank in Nepal

IF 2 Q2 BUSINESS, FINANCE

Journal of Financial Regulation and Compliance Pub Date : 2024-02-29 DOI:10.1108/jfrc-07-2023-0112

Tim Gocher, Wen Li Chan, Jayalakshmy Ramachandran, Angelina Seow Voon Yee

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引用次数: 0

Abstract

Purpose

This study aims to explore the effects of responsible international investment in a least developed country (LDC) on ethics and corruption in the local industry. While investment growth in least developed countries (LDCs) is essential to meet the United Nations Sustainable Development Goals, international investment in LDCs poses challenges, including corruption. The authors explore perspectives from relevant stakeholders on the influence, if any, on an LDC’s banking sector, of investment in the LDC by a multinational bank with an environmental, social and governance focus – using a case study of Standard Chartered Bank (SCB) in Nepal.

Design/methodology/approach

The authors conducted thematic analysis on: focus groups with current and former SCB Nepal management; semi-structured interviews with Nepal banking regulator representatives; senior staff from SCB global divisions; and management of other commercial banks in Nepal.

Findings

Knowledge transfer, organisational enablers and constructive international competition contributed to the dissemination of best practices within the Nepal banking sector, supporting the notion of beneficial spill-over effects of multinationals on LDC host countries.

Practical implications

Practical insights will aid LDC governments, international businesses, investment funds and donor organisations seeking to invest in/assist LDCs with economic development.

Originality/value

To the best of the authors’ knowledge, this may be the first case study on ethics and anti-corruption practices of a multinational bank in a LDC. Through a practice-driven focus, the authors provide “on-the-ground” insights to better understand the complex nature of corruption.

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最不发达国家的腐败与 ESG（负责任）投资：渣打银行在尼泊尔

目的本研究旨在探讨在最不发达国家（LDC）进行负责任的国际投资对当地行业道德和腐败的影响。虽然最不发达国家的投资增长对实现联合国可持续发展目标至关重要，但对最不发达国家的国际投资也带来了包括腐败在内的挑战。作者通过对渣打银行（SCB）在尼泊尔的案例研究，探讨了相关利益相关者对一家以环境、社会和治理为重点的跨国银行在最不发达国家的投资对该最不发达国家银行业的影响（如果有的话）的观点。设计/方法/途径作者对以下方面进行了专题分析：与渣打银行尼泊尔现任和前任管理层进行的焦点小组讨论；与尼泊尔银行业监管机构代表、渣打银行全球各部门高级职员以及尼泊尔其他商业银行管理层进行的半结构化访谈。研究结果知识转让、组织推动因素和建设性的国际竞争促进了最佳实践在尼泊尔银行业的传播，支持了跨国公司对最不发达国家东道国产生有益溢出效应的概念。通过对实践的关注，作者提供了 "实地 "见解，以更好地理解腐败的复杂本质。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Financial Regulation and Compliance BUSINESS, FINANCE-

CiteScore

2.60

自引率

11.10%

发文量

期刊介绍： Since its inception in 1992, the Journal of Financial Regulation and Compliance has provided an authoritative and scholarly platform for international research in financial regulation and compliance. The journal is at the intersection between academic research and the practice of financial regulation, with distinguished past authors including senior regulators, central bankers and even a Prime Minister. Financial crises, predatory practices, internationalization and integration, the increased use of technology and financial innovation are just some of the changes and issues that contemporary financial regulators are grappling with. These challenges and changes hold profound implications for regulation and compliance, ranging from macro-prudential to consumer protection policies. The journal seeks to illuminate these issues, is pluralistic in approach and invites scholarly papers using any appropriate methodology. Accordingly, the journal welcomes submissions from finance, law, economics and interdisciplinary perspectives. A broad spectrum of research styles, sources of information and topics (e.g. banking laws and regulations, stock market and cross border regulation, risk assessment and management, training and competence, competition law, case law, compliance and regulatory updates and guidelines) are appropriate. All submissions are double-blind refereed and judged on academic rigour, originality, quality of exposition and relevance to policy and practice. Once accepted, individual articles are typeset, proofed and published online as the Version of Record within an average of 32 days, so that articles can be downloaded and cited earlier.