Legal and Illegal Money Flows: Challenges and Opportunities
birgit burbock
Guest Editor
fh Joanneum University of Applied Sciences, Austria
birgit.burboeck@fh-joanneum.at
https://doi.org/10.26493/1854-4231.12.299-300
Let us get straight to the point: it is easy to see that 'corruption' is a rather a very broad concept denoting as illegal money flow which cannot be expressed meaningfully by a single number. Since almost every country is confronted with different types of corruption and shadow economy, the importance of the topic is undeniable. Therefore, this special issue is trying to approach legal and illegal money flows from different perspectives.
In the first paper, Dirk-Hinnerk Fischer proposes a set of tools to give control organizations like central banks more insights into the market of digital currencies. Shadow banking, digital currencies and distributed ledger-based systems are growing on a daily basis, while the regulatory response is in its early development. Hence, a new, original and specialized form of electronic money, so called 'Monetary Tracking' which is traceable through the markets is proposed.
The second paper is written by Erika Jaki, Endre Mihaly Molnar, and Walter Gyorgy The purpose of this paper is to evaluate the Hungarian government's participation and intervention on the Hungarian's venture capital market. The main characteristics of start-up companies and market failures that might lead to government intervention include asymmetric information, high transaction costs and the positive externalities in the economy. By analysing relevant studies, the authors are showing that indirect government intervention can have positive and negative effects on the venture capital market.
Maria Kostritsa and Inken Sittler are analysing the influence on voluntary tax compliance by replicating the structural model of Jimenez and Iyer (2016). In this model, it is assumed that one's moral standards and perceived fairness directly influence voluntary tax compliance while social norms and trust in governments have an indirect impact on tax compliance via influencing personal norms and perceived fairness.
management 12 (4): 375-389
Birgit Burböck
The fourth paper written by Gabriela De La Torre Campos, Katharina Radler, and Bramantio Utomo Saptoadi examines in how far different wage levels in the private purchasing sector relate to the level of corruptibility. In an experiment, the participants took the role of employees of a purchasing department of a multinational enterprise. Their analysis shows that the wage level cannot be associated with the level of corruptibility.
According to Zaman and Faiz-Ur-Rahim (2009), existing paradigms of measuring 'corruption' should be assessed carefully with regard to the object of measurement. Burbock, Macek, Vuckovic, Lipar and Bojnec observed the development of the changes in the methodology of the Global Corruption Barometer of Transparency International in detail and collected data for their research in Austria and Slovenia. Within their analysis, they focused in particular on the perception of corruption in the public sector. The results show that the level of corruption differs significantly between Austria and Slovenia, and gender differences are largely not significant.
At last, I want to thank all the reviewers for doing such a great job. Each of them were from different international universities and facilitated the reviewing process tremendously. A special thank goes to Alen Ježovnik and Štefan Bojnec for their great support and the opportunity to give room for this controversial topic.
References
Zaman, A., and Faiz-Ur-Rahim. 2009. 'Corruption: Measuring the Un-measurable.' Humanomics 25 (2): 117-26.
Jimenez, P., and G. Iyer. 2016. 'Tax Compliance in a Social Setting: The Influence of Social Norms, Trust in Government, and Perceived Fairness on Taxpayer Compliance.' Advances in Accounting 34:17-26.
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