Criminological and socioeconomic aspects of corporate delinquency: A 21st century perspective

Abstract

This study examines the growing concern of corporate delinquency in securities markets through an interdisciplinary approach, incorporating insights from sociological jurisprudence, criminology, and economic principles. Deploying a qualitative methodology, the research involves a comparative analysis of landmark case studies such as Enron, Wirecard, and Yes Bank, along with existing legal frameworks to identify systemic weaknesses in corporate governance and regulatory enforcement. The authors discuss theories like the Fraud Triangle, General Strain Theory, and Locke’s social contract theory inter alia, delving into the psychological and sociological factors driving white-collar crimes. The findings reveal significant gaps in accountability mechanisms, which facilitate corporate delinquency that erode societal trust in capitalism and economic stability. The authors advocate for the integration of stronger regulatory mechanisms and incorporation of technology such as blockchain, to bolster investor confidence and mitigate the socio-economic impact of corporate crimes. By following a multidisciplinary framework, the research contributes to the evolving discourse on economic criminology and corporate governance.