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    Accountability of transnational corporations in the developing world: The case for an enforceable international mechanism.

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    Authors
    Omoteso, Kamil
    Yusuf, Hakeem O.
    Affiliation
    Coventry University
    University of Birmingham
    Issue Date
    2017-03-06
    
    Metadata
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    Abstract
    Purpose: This paper contends that the dominant voluntarism approach to the accountability of Transnational Corporations (TNCs) is inadequate and not fit-for-purpose. It argues for the establishment of an international legal mechanism for securing the accountability of TNCs particularly in the context of developing countries with notoriously weak governance mechanisms to protect all relevant stakeholders. Design/methodology/approach: The study adopts insights from the fields of management and international law to draw out synergies from particular understandings of corporate governance, corporate social responsibility and international human rights. The governance challenges in developing countries with regard to securing the accountability of TNCs is illustrated with the Nigerian experience of oil-industry legislation reform. Findings: The specific context of the experiences of developing countries in Africa on the operations of TNCs particularly commends the need and expedience to create an international legal regime for ensuring the accountability of TNCs. Originality/value: Mainstream research in this area has focused mainly on self and voluntary models of regulation and accountability that have privileged the legal fiction of the corporate status of TNCs. This article departs from that model to argue for an enforceable model of TNC accountability based on an international mechanism.
    Citation
    Omoteso, K & Yusuf, HO 2017, 'Accountability of Transnational Corporations in the Developing World: The Case for an Enforceable International Mechanism' Critical Perspectives on International Business, vol. 13, no. 1, pp. 54-71. DOI: 10.1108/cpoib-08-2014-0040
    Journal
    Critical perspectives on international business
    URI
    http://hdl.handle.net/10545/623141
    DOI
    10.1108/cpoib-08-2014-0040
    Additional Links
    http://www.emeraldinsight.com/doi/10.1108/cpoib-08-2014-0040
    https://pureportal.coventry.ac.uk/en/publications/accountability-of-transnational-corporations-in-the-developing-wo-2
    Type
    Article
    Language
    en
    ISSN
    1742-2043
    ae974a485f413a2113503eed53cd6c53
    10.1108/cpoib-08-2014-0040
    Scopus Count
    Collections
    Derby Business School

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