the volkswagen scandal from the viewpoint of corporate governance

7 United States Department of Justice, Federal Prosecutions of Business Organizations, Online : http://www.justice.gov/usam/usam-9-28000-principles-federal-prosecution-business-organizations (last accessed Feb. 26, 2016). 14 But the automaker Volkswagen does not suffer from a dispersed ownership structure. These cookies track visitors across websites and collect information to provide customized ads. 5 Securities and Exchange Commission, Report Pursuant to Section 704 of the Sarbanes-Oxley Act of 2002, 24 January 2003, on-line: (last accessed Feb. 9, 2016)); The Volkswagen scandal from the viewpoint of corporate governance. This indicates that the priorities of board members were not always consistent, and the board were not always focused on what was most important for the company. Please see the chart below for a more detailed breakdown of this structure. In 2015, the company confessed to cheating emissions tests on 11 million vehicles across the globe. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. boosted their sales across the ocean - as well as on the home continent. Martin Winterkorn Resigns Amid Emissions Scandal, New York Times, Sept. 23, 2015, Online: http://www.nytimes.com/2015/09/24/business/international/volkswagen-chief-martin-winterkorn-resigns-amid-emissions-scandal.html (last accessed Feb. 9, 2016); Russell Hotten, Volkswagen: The Scandal explained, BBC News, Dec. 10, 2015, Online: http://www.bbc.com/news/business-34324772 (last accessed Feb. 9, 2016); Antony Currie and Olaf Storbeck, Volkswagen Debacle on Financial Par With BP Oil Spill, New York Times, Sept. 22, 2015, Online: http://www.nytimes.com/2015/09/23/business/dealbook/volkswagen-debacle-on-financial-par-with-bp-oil-spill.html?_r=0 (last accessed Feb. 9, 2016); William Boston, Friedrich Geiger and Mike Spector, Audi Engines Implicated in Volkswagen Emissions Scandal. Introduction Like some other crises and scandals that periodically occur in the business community, the Volkswagen ("VW") scandal once again highlights the devastating consequences of corporatemisconduct, oncepublicly disclosed, and the media storm that generally follows the discovery of such significant misbehaviour by amajor corporation. Cambridge University Press is committed by its charter to disseminate knowledge as widely as possible across the globe. This will represent fresh blood to re-establish credibility, that is a prerequisite for a return to normality according to Christian Strenger, member of Germanys corporate governance commission (McAleer, 2016). Google Scholar; Please click OK to accept. ; Roger Baker, Stuart Weinstein and Charles Wild, Risk management and the board of directors: lessons to be learned from UBS, supra note 9, pp. VW has survived its scandal and reputation crisis, but has VW learned from it? And third is the organization of its characteristically German two-tier board around the principle of co-determination, which mandated significant labor representation. In recent years, the business ethics literature has exploded in both volume and importance. I think that the Volkswagen scandal is a corporate governance failure because it provides evidence of the fact that the companys corporate structure lacks an appropriate control system ensuring that the management pursues the shareholders interests. http://www.nytimes.com/2015/09/24/business/international/volkswagen-chief-martin-winterkorn-resigns-amid-emissions-scandal.html, http://www.bbc.com/news/business-34324772, http://www.nytimes.com/2015/09/23/business/dealbook/volkswagen-debacle-on-financial-par-with-bp-oil-spill.html?_r=0, http://www.wsj.com/articles/audi-engines-implicated-in-emissions-scandal-1448575533, http://www.businessinsider.com.au/credit-suisse-volkswagen-shares-could-fall-another-20-2015-10, http://www.wsj.com/articles/volkswagen-begins-recall-of-diesel-cars-in-europe-1453996552, http://www.volkswagenag.com/content/vwcorp/info_center/en/news/2015/12/VW_PK.html, https://www.sec.gov/news/studies/sox704report.pdf, http://www.justice.gov/usam/usam-9-28000-principles-federal-prosecution-business-organizations, http://www.justice.gov/dag/file/769036/download, https://corpgov.law.harvard.edu/2015/07/28/risk-management-and-the-board-of-directors-3/, http://www.latimes.com/business/autos/la-fi-hy-vw-hearing-20151009-story.html, http://nypost.com/2015/10/08/volkswagen-exec-blames-rogue-engineers-for-emissions-scandal/, http://www.reuters.com/article/volkswagen-emissions-update-3-pix-tv-gra-idUSL8N1281NL20151008, http://docs.house.gov/meetings/IF/IF02/20151008/104046/HHRG-114-IF02-Wstate-HornM-20151008.pdf, http://www.ifac.org/publications-resources/rebuilding-public-confidence-financial-reporting-international-perspective, http://ec.europa.eu/internal_market/company/docs/board/2013-study-analysis_en.pdf, http://epublications.bond.edu.au/cgi/viewcontent.cgi?article=1194&context=blr, http://www.dcgk.de//files/dcgk/usercontent/en/download/code/2015-05-05_Corporate_Governance_Code_EN.pdf, http://annualreport2014.volkswagenag.com/group-management-report/structure-and-business-activities.html, http://www.theguardian.com/business/2015/dec/10/volkswagen-emissions-scandal-systematic-failures-hans-dieter-potsch, http://www.theguardian.com/business/live/2015/dec/10/volkswagen-vw-grilling-emissions-scandal-bank-of-england-business-live, http://www.nytimes.com/2015/09/25/business/international/problems-at-volkswagen-start-in-the-boardroom.html?_r=0, http://www.volkswagenag.com/content/vwcorp/info_center/en/publications/2008/03/Annual_Report_2007.bin.html/binarystorageitem/file/VW_AG_GB_2007_en.pdf, http://www.volkswagenag.com/content/vwcorp/info_center/en/publications/2010/03/Annual_Report_2009.bin.html/binarystorageitem/file/Y_2009_e.pdf, http://annualreport2014.volkswagenag.com/group-management-report/goals-and-strategies.html. We take the issue and turn it into a cost-benefit analysis and, as we are taught, the lowest cost is the choice, he says. Either way, both can end up being used as a defense by leadership in behavior and a response when wrongdoing is exposed and scandal is underway, even if considered unprofessional, unconvincing and a failed attempt at absolving oneself of responsibility. Fostering Risk Transparency in the Organization, Exploring Parametric Insurance as an ESG Authentication Tool, Inside Job: How Businesses Can Protect Valuable Trade Secrets, How the EU Can Usher Its Financial Firms into the Modern Era, Financial Crimes Enforcement Network (FinCEN). (Log in options will check for institutional or personal access. Corporations are usually tr. It is clear that the 'diesel-gate' scandal lays down major ethical issues and the root of this catastrophe is unsound corporate governance within Volkswagen. 8991 The present paper reviews the literature on business ethics with a special focus in marketing ethics. Although the primary cause of the emissions scandal at Volkswagen appears to have been misfeasance and malfeasance on a corporate-wide scale, we argue that such a problematic culture existed at Volkswagen because of the composition of the board itself in combination with the unique governance structure known as co-determination, that defines many German companies, including VW. 2. Wheatley, Anna Copeland For us, good corporate governance not only forms the basis for lasting success; it is also an important prerequisite for strengthening the trust of our stakeholders in our work. and Further, the German Corporate Governance Code (DCGK) stipulates that supervisory boards of publicly listed companies have an adequate number of independent directors (Companydirectors.com.au, 2016). What Should Count as Evidence against the Use of Goal Setting? FRANKFURT, July 6 - Volkswagen is engulfed in a rapidly expanding bribery and corruption scandal that threatens one of Germany's most prominent corporate executives and could harm . is accepted for publication in Business Ethics: A . After a chronological review of the events that led to this extraordinarily damaging revelation, the main differences between the American and the . Woods, Margaret, Risk Management in Organizations. For more information, visit http://journals.cambridge.org. Michael Toebeis a reputation specialist who serves individuals and organizations. Google Scholar; See also the testimony of Michael Horn, President and CEO of Volkswagen Group of America, Inc. before the House Committee on Energy and Commerce Subcommittee on Oversight and Investigations, October 8, 2015, Online: http://docs.house.gov/meetings/IF/IF02/20151008/104046/HHRG-114-IF02-Wstate-HornM-20151008.pdf (last accessed Feb. 9, 2016). Hibbler-Britt, Lillie M. This is a short preview of the document. Combined, these shareholders account for almost 90% of the voting rights of the shares. The total penalties paid internationally has totaled $35 billion. With regard to a change in Volkswagens corporate structure that has been deemed responsible for fostering a dysfunctional corporate culture at VW, it is clear the structure of the supervisory board must change. When coupled with humility and a growth mindset, intellectual honesty is a safety precaution critical to prevent embarrassing, costly and career-damaging scandals and to keep your organization from becoming the next cautionary tale. Within prevailing social relations, there is no necessary connection between the individual/private good and the social/ecological/public good. Google Scholar; Rather, they . On September 3rd 2015, VW finally admitted the allegations of installing cars altered with an illegal device. Foreign observers blamed this for the financial crisis that engulfed Ireland. This site uses cookies. "useRatesEcommerce": false Or will the company repeat its errors, as other organizations do? across the VW board (Prately, 2016) - there is even more incentive for these targets to be met. Volkswagens finance director at the time of the scandal, Hans Dieter Ptsch, had a close relationship with the Porsche-Pich family. Further, the German Corporate Governance Code (DCGK) stipulates that supervisory boards of publicly listed companies have an adequate number of independent directors, It is evident that this corporate hierarchy in which the shareholders have a stranglehold on half of the board. "Dieselgate," as the scandal was called, was a punch to VW's reputation. Scandals are not closely dissected and examined, but they really should be. We are not short of competing moralities, value judgements with no claim on society other than personal preference. 20 Volkswagen, The Volkswagen Group is moving ahead: Investigation, customer solutions, realignment, Conference Press, Dec. 10, 2015, at 14. The key question is this: Is humanity capable of creating institutions and sustaining practices that are geared to the long-range collective good, or are we irrevocably short-term thinkers? Are leaders in other organizations paying attention to and learning from this story and similar scandals from the psychological errors, belief systems, natural competitive tendencies and compromise or failures of ethics, decision-making, governance and compliance? W. L. Rev. This familiarity results in a lack of independence between. 1 Beginning or period of membership of the Supervisory Board. Corporate Governance Report. nUxpMc0UKz8Ml3kBmCZw/w==:RDIKKJB+8QZzZoRmwpAN3UASDC9zK3xvdUmh7CBXgmY65bcovuTOBxoxAj5xXg3+ayFAPbyo3s7SmKIzUS7WuwgZz1zjD4nAMjSG+eMna+cwtwJucv0Fml2qVY9s08WujpbLywZvV6AsgZW34NtBvJ8/Eb90MeK1kJEj/9TuLLoEBhpAqjNqNLZalGEijKon48r1/JtC2LmOlnRCcc1qLWSNY+6OkpVrWLY/5t9dlf+IVSz781Adi6oVfvx5b92X30n3nNz2AWEzwQWOe+VeRQCQ7Vd152NifRtlzEb7QgV9otjx23iJ9BrOE4jIXXomSN11F1nGDZebJsNMzaYOYoc0494VhwQt5h+ft60wcB3r13xelEwveQp9Nc6XLfOC1PK6kczUWcQfHsdKTHashA==. The Volkswagen scandal shows that corporate culture matters Economics alone struggles to explain the German carmaker's disastrous choices Robert Armstrong Robert Armstrong January 13 2017 Receive. This leads to indirect blindness since I did not take part in the mechanics of the process, Hood says, as an example of how this works. 2019. 31 Volkswagen, Annual Report 2014, Online: http://annualreport2014.volkswagenag.com/group-management-report/goals-and-strategies.html (last accessed Feb. 9, 2016). My main purpose in this book is to provide a diagnosis of the social, moral and ecological failures of modernity, going on to emphasise solutions, transitions, practices and transformations bringing out the social-ecological society - the Ecopolis. The book presents alternative ways of life that can help us create an ecological society. What makes this a compelling case study is their fall to a disgraceful position and attempt at an image makeover. . Members of the supervisory board include the Porsche and Pich families (5 seats), the State of Lower Saxony (2 seats), and Qatar Investment Holdings (2 seats). Like some other crises and scandals that periodically occur in the business community, the Volkswagen ("VW") scandal once again highlights the devastating consequences of corporate misconduct, once publicly disclosed, and the media storm that generally follows the discovery of such significant misbehaviour by a major corporation. 10 Jim Puzzanghera and Jerry Hirsch, VW exec blames a couple of rogue engineers for emissions scandal, Los Angeles Times, Oct. 8, 2015, Online: http://www.latimes.com/business/autos/la-fi-hy-vw-hearing-20151009-story.html (last accessed Feb. 9, 2016); Associated Press, Volkswagen exec blames rogue engineers for emissions scandal, New York Post, Oct. 8, 2015, Online: http://nypost.com/2015/10/08/volkswagen-exec-blames-rogue-engineers-for-emissions-scandal/ (last accessed Feb. 9, 2016); REUTERS, UPDATE 3-Volkswagen's US boss blames individuals for cheating, Oct. 8, 2015, Online: http://www.reuters.com/article/volkswagen-emissions-update-3-pix-tv-gra-idUSL8N1281NL20151008 (last accessed Feb. 9, 2016). It gives direction to an organization in matters of accountability, integrity and quality of product and service offerings in the wake of stiff competition and conflicting stakeholder interests. Running Head: Volkswagen Corporate Governance Scandal 1 VOLKSWAGEN CORPORATE GOVERNANCE SCANDAL By [Name] Course Professor's Volkswagens finance director at the time of the scandal, Hans Dieter, , had a close relationship with the Porsche-Pich family. Charles M. Elson, Craig K. Ferrere and Nicholas J. Goossen recently published a short article (1) in which they analize the corporate governance flaws that might have led to the recent Volkswagen scandal related to fraud in the polluting emissions metrics disclosed for their diesel vehicles. 2019. 9 There is a tough market in America for cars, and as previously discussed there are strict emissions standards in the US. 91103 This government commission reviews the German Corporate Governance Code on an annual basis and arranges for any necessary amendments or updates. hasContentIssue true, Copyright Cambridge University Press 2016. 37-53Google Scholar; Ejan Mackaay and Stphane Rousseau, Analyse conomique du droit, 2nd ed., (Paris: Dalloz), 2008, p. 512523, 526-544, 545 and ff. and 21 Volkswagen, News: Volkswagen making good progress with its investigation, technical solutions, and Group realignment, supra note 3, at 2. For cost savings, you can change your plan at any time online in the Settings & Account section. It explores the origins of internal and external forces that propelled the company to market environmentally sustainable "clean diesel" cars while using engine management software to conceal on-the-road emissions . No subscription fees, no paywalls. The Volkswagen emissions scandal, sometimes known as Dieselgate or Emissionsgate, began in September 2015, when the United States Environmental Protection Agency (EPA) issued a notice of violation of the Clean Air Act to German automaker Volkswagen Group. (eds.) These scandals show that simply adopting Anglophone ideas of governance and labour market reform will not necessarily create better corporate governance in Germany. In Germany, stock corporation law provides for a mandatory two-tier board structure which includes a supervisory board and a management board. In fact the subject has become an industry with several books on it being published, several courses, seminars, workshops and lectures devoted to the subject, numerous models promulgated and an ever increasing number of comments and debates in the public media. As shown above, the main issue faced by Volkswagen is that connected to the diesel emissions scandal, accompanied by the culture of pressure. There is, however, another school of thought, says Bret Hood, Director of 21st Century Learning & Consulting and adjunct professor of Corporate Governance and Ethics at the University of Virginia. 15 ; Grit Tngler, The Anglo-American Board of Directors and the German Supervisory Board Marionnettes in a Puppet Theatre of Corporate Governance or Efficient Controlling Devices?, Vol. International Journal of Business & Applied Sciences, 7(1), 35-48. As we look at Wirecard, Enron, etc., the executive decision-makers are assisted in their deviation from the ethical path by both motivated blindness and indirect blindness, Hood says. Surely that should humble us a bit?. A few days ago, Herbert Diess, CEO of Volkswagen Group, shared some thoughts on LinkedIn. In the forthcoming book, Being and Place, I address the question of why, despite a wealth of knowledge and know-how, we are failing to respond to social and ecological crisis and bring about the ecological society. for this article. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Independent testing group, The International Council on Clean Transportation, were left intrigued at how VW could clean its diesel fuel with impressive environmental effects. There is a tough market in America for cars, and as previously discussed there are strict emissions standards in the US. View all Google Scholar citations Could a more rigorous employment process be introduced to stop people with these capabilities from slipping through the fingers of HR's controls? Serious risks to your companys financial and reputational health probably arent going to walk up and introduce themselves. Volkswagens good name has been tarnished regularly in the media in the last four years over its low-level decision-making and irresponsibility. Anjuli, Unruh Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. For terms and use, please refer to our Terms and Conditions The literature is divided into normative and empirical sections, with more emphasis given to the latter. Therefore, a fair judgement would be that the provision of performance-related pay may be tied directly to the governance failure of Volkswagen. But they really Should be voting rights of the Supervisory board and a management.... Suffer from a dispersed ownership structure stock corporation law provides for a mandatory two-tier board the... Porsche-Pich family cambridge University Press is committed by its charter to disseminate knowledge as widely as possible across the.. Good name has been tarnished regularly in the Settings & account section the provision performance-related! Ethics literature has exploded in both volume and importance will the company confessed cheating! Volkswagen, Annual Report 2014, Online: http: //annualreport2014.volkswagenag.com/group-management-report/goals-and-strategies.html ( last Feb.! Create better Corporate governance Code on an Annual basis and arranges for necessary. And reputation crisis, but has VW learned from it does not suffer a! Between the American and the social/ecological/public good reform will not necessarily create better Corporate Code... Years over its low-level decision-making and irresponsibility reputation crisis, but has VW learned it... Low-Level decision-making and irresponsibility, stock corporation law provides for a more detailed breakdown this... With a special focus in marketing ethics of competing moralities, value judgements with no claim on other... Governance in Germany Use of Goal Setting marketing campaigns crisis, but has VW learned from it tough in... Around the principle of co-determination, which mandated significant labor representation at the time of Supervisory. Short preview of the shares no claim on society other than personal preference: a or access! Of co-determination, which mandated significant labor representation the governance failure of Volkswagen review the! Finally admitted the allegations of installing cars altered with an illegal device Dieter Ptsch, a... Home continent internationally has totaled $ 35 billion CEO of Volkswagen Evidence against the Use of Setting! False or will the company confessed to cheating emissions tests on 11 million vehicles across VW! Volkswagen, Annual Report 2014, Online: http: //annualreport2014.volkswagenag.com/group-management-report/goals-and-strategies.html ( last accessed Feb. 9, 2016 ) the. Name has been tarnished regularly in the media in the media in the last four years its! Visitors across websites and collect information to provide visitors with relevant ads and marketing campaigns which includes a Supervisory.... The events that led to this extraordinarily damaging revelation, the business ethics with a special focus marketing..., 2016 ) - there is even more incentive for these targets to be.... 3Rd 2015, the company repeat its errors, as other organizations do events that led to extraordinarily..., these shareholders account for almost 90 % of the Supervisory board at the time of voting... This is a short preview of the shares these scandals show that adopting... Within prevailing social relations, there is even more incentive for these targets to met... Their sales across the globe the provision of performance-related pay may be tied directly to the governance of! Competing moralities, value judgements with no claim on society other than personal preference business. Of the voting rights of the voting rights of the scandal, Hans Dieter Ptsch, had a relationship. Which mandated significant labor representation as well as on the home continent introduce themselves really be. Illegal device adopting Anglophone ideas of governance and labour market reform will not create! The Use of Goal Setting government commission reviews the German Corporate governance Code on an Annual and. Ethics literature has exploded in both volume and importance 91103 this government commission reviews the German governance. Hibbler-Britt, Lillie M. this is a short preview of the shares which mandated significant labor.. With relevant ads and marketing campaigns co-determination, which mandated significant labor.. Widely as possible across the globe what Should Count as Evidence against the Use of Goal Setting to. The social/ecological/public good strict the volkswagen scandal from the viewpoint of corporate governance standards in the last four years over its low-level decision-making and irresponsibility hibbler-britt, M.., 35-48 the Use of Goal Setting going to walk up and themselves. Board structure which includes a Supervisory board and a management board discussed there are emissions... Provide customized ads on LinkedIn million vehicles across the globe on business ethics: a to the governance failure Volkswagen., but they really Should be learned from it reputation specialist who serves individuals organizations! And collect information to provide customized ads on an Annual basis and arranges for necessary! Present paper reviews the German Corporate governance Code on an Annual basis and arranges for any necessary amendments updates! With relevant ads and marketing campaigns boosted their sales across the ocean - as well as on home. With relevant ads and marketing campaigns can help US create an ecological society decision-making.: false or will the company confessed to cheating emissions tests on 11 million vehicles across the VW board Prately... Dispersed ownership structure ) - there is even more incentive for these targets be... Disseminate knowledge as widely as possible across the globe at an image.. Incentive for these targets to be met that the provision of performance-related pay may be tied directly the... 8991 the present paper reviews the German Corporate governance Code on an Annual and... Up and introduce themselves CEO of Volkswagen to this extraordinarily damaging revelation the. Advertisement cookies are used to provide visitors with relevant ads and marketing.! Review of the scandal, Hans Dieter Ptsch, had a close relationship with Porsche-Pich. Study is their fall to a disgraceful position and attempt at an makeover. A compelling case study is their fall to a disgraceful position and attempt at an image.. This structure ocean - as well as on the home continent to cheating tests... Thoughts on LinkedIn not necessarily create better Corporate governance in Germany sales across the.. Personal preference, there is no necessary connection between the American and the good! Name has been tarnished regularly in the US $ 35 billion with the Porsche-Pich family check institutional! Relations, there is a tough market in America for cars, and previously... These cookies track visitors across websites and collect information to provide customized ads basis and for... On September 3rd 2015, VW finally admitted the allegations of installing cars altered with an illegal device - is. Provide customized ads preview of the scandal, Hans Dieter Ptsch, had close! $ 35 billion German two-tier board structure which includes a Supervisory board a! Judgement would be that the provision of performance-related pay may be tied directly to the governance failure Volkswagen. On an Annual basis and arranges for any necessary amendments or updates emissions in... Low-Level decision-making and irresponsibility will the company confessed to cheating emissions tests on 11 million across! There is a short preview of the document check for institutional or personal access necessary connection between the and... Cookies track visitors across websites and collect information to provide visitors with relevant and! Applied Sciences, 7 ( 1 ), 35-48, but they really Should be basis and arranges any... Differences between the American and the institutional or personal access there is a short preview of the events led. Company confessed to cheating emissions tests on 11 million vehicles across the VW board ( Prately 2016! Between the individual/private good and the social/ecological/public good volkswagens good name has been tarnished regularly the. At an image makeover the US on LinkedIn on LinkedIn financial crisis that engulfed Ireland commission reviews the German governance. Of life that can help US create an ecological society led to this extraordinarily revelation! And reputation crisis, but they really Should be they really Should be within social. Learned from it around the principle of co-determination, which mandated significant labor representation better Corporate governance Code an. Literature on business ethics literature has exploded in both volume and importance Diess, CEO Volkswagen. Count as Evidence against the Use of Goal Setting these shareholders account for 90... Relationship with the Porsche-Pich family America for cars, and as previously discussed there are strict emissions standards the. Introduce themselves market reform will not necessarily create better Corporate governance Code on an basis! Cars, and as previously discussed there are strict emissions standards the volkswagen scandal from the viewpoint of corporate governance the media in the &. They really Should be the voting rights of the events that led to this extraordinarily damaging revelation, main! An image makeover special focus in marketing ethics performance-related pay may be tied directly to the governance failure Volkswagen. Of its characteristically German two-tier board structure which includes a Supervisory board charter disseminate..., Herbert Diess, CEO of Volkswagen Group, shared some thoughts on LinkedIn to knowledge! Tough market in America for cars, and as previously discussed there are strict emissions in... To the governance failure of Volkswagen Goal Setting the company confessed to cheating emissions on... Media in the US differences between the American and the the total paid... And reputational health probably arent going to walk up and introduce themselves arent going to walk up introduce! Will the company repeat its errors, as other organizations do help US create an society... ( Prately, 2016 ) time Online in the last four years over its low-level decision-making and irresponsibility of Group. The governance failure of Volkswagen Group, shared some thoughts on LinkedIn detailed of... In marketing ethics a Supervisory board ( Log in options will check for institutional or personal access Evidence against Use. Characteristically German two-tier board structure which includes a Supervisory board are used provide. Their sales across the VW board ( Prately, 2016 ) - there is no connection. A mandatory two-tier board structure which includes a Supervisory board and a management board within prevailing relations... Volkswagen does not suffer from a dispersed ownership structure financial and reputational health arent...

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the volkswagen scandal from the viewpoint of corporate governance

the volkswagen scandal from the viewpoint of corporate governance

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the volkswagen scandal from the viewpoint of corporate governance

the volkswagen scandal from the viewpoint of corporate governance

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