Compliance Management As Neo-Liberal Strategy in China

Wednesday, 18 July 2018: 08:47
Oral Presentation
Jaeyoun WON, Yonsei University, South Korea
Fen DAI, Yonsei University, Republic of Korea
This paper discusses local-global dynamics of neo-liberal complicance management strategy in China by investigating a case of "A" transnational enterprise in China. The notorious GlaxoSmithKline plc bribery scandal in 2013 pushed the issues of corruption in China to the highest point and disclosed a series of misconducts in violation of compliance management. China has a long history of practicing "guanxi" on business relationship, which is based upon reciprocity, emotional feelings, and personalized networks. However, recently, a series of compliance regulations and rule of law have been established in post-socialist China. In particular, the Foreign Corrupt Practices Act (FCPA) is grudally into public's vision with several bribery cases. Based upon qualitative data from transnational enterprise "A", this paper attempts to examine the local adaptation of global compliance management tactics.