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OECD Business and Finance Outlook 2019

Strengthening Trust in Business

image of OECD Business and Finance Outlook 2019

The OECD Business and Finance Outlook is an annual publication that presents unique data and analysis on the trends, both positive and negative, that are shaping tomorrow’s world of business, finance and investment. Using analysis from a wide range of perspectives, this year’s edition considers the importance of public trust in business and finance, offering a conceptual approach to understanding facets of trust in finance, investment and business with respect to economic value, fairness and integrity of conduct, as well as alignment with societal values. The Outlook provides an assessment of factors that contributed to a deterioration of trust during the Global Financial Crisis; reviews recent developments that could contribute to a renewed erosion of trust; and, offers policy considerations to help strengthen public trust in business and finance.

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Trust and corporate liability

A key pillar of trust in business is the belief that companies conduct their operations —at a minimum—in compliance with the law. This chapter investigates this premise and finds that companies will be more likely to prevent crime and to cooperate in the detection and resolution of cases if the law provides compelling incentives for them to do so. Legal systems change slowly but Parties to the Anti-Bribery Convention have made significant progress over the last 20 years in creating such incentives and are continuing to build the legal frameworks needed to enforce laws covering economic crime.The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use of such data by the OECD is without prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements in the West Bank under the terms of international law.*

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