Venerdì, 6 dicembre - ore 15:00 - Aula 3F (DEM)

Abstract

This seminar focuses on ethics and business, with a special emphasis on non-compliance. Discussion will follow on a conceptual analysis of ethical guidelines and laws in place to govern business sector, and promote good governance. The enactment of these laws resulted after numerous scandals, namely the Lockheed (USA) case of 1976 and Enron (USA) in 2003. The aftermath of these scandals had a number of consequences, including legal ramifications, regulatory reforms and most significantly, led to a rethinking of corporate governance practices globally. These regulatory reforms have been tightly drafted with success in some countries as far as their implementation is concerned. But in other countries, despite the enactment of laws and policies, these were not successfully implemented. One such case study is that of ‘State Capture’, in South Africa (2016-2023)

State capture describes a form of corruption in which businesses and political leaders conspire to influence a country’s decision-making process to further their own interests. As modern democracies have legislation to prevent this from happening, state capture focuses on ‘weakening those laws, and neutralizing any agencies that enforce them.’ (Innes; 2019)

 This seminar also explores the infiltration of state capture into the South African economic and political environment; the dire consequences thereof and provides recommendations to mitigate its negative effects on the government.