Legitimacy and Regulatory Compliance

Justice Tankebe ()
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Justice Tankebe: University of Cambridge

Chapter Chapter 2 in Financial Compliance, 2019, pp 47-65 from Springer

Abstract: Abstract A number of highly-publicised corporate unethical behaviours, such as those associated with the 2008 financial crisis, have led to new regulations and the strengthening of existing regulations. However, as criminologists have shown, the question of securing compliance is complex, and that rule-breaking is a constant risk in all human organisations. Yet, they also show a number of mechanisms that help to understand and to explain why people sometimes comply with rules in particular situations. The purpose of this chapter is to explore the role of legitimacy as a mechanism for compliance. Legitimacy, the discussion shows, is best viewed as a continuous dialogue, and that building and sustaining legitimacy requires the lawful, fair, and effective use of authority in everyday decisions. A review of research evidence shows that legitimacy matters for encouraging compliance with laws and regulations.

Keywords: Legitimacy; Dialogue; Audience legitimacy; Legitimacy fracking; Procedural justice (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-14511-8_2

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DOI: 10.1007/978-3-030-14511-8_2

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