High-profile corporate scandals based on the agenda-setting theory: analysing developed and emerging countries: Países de Mercados Desenvolvidos e Emergentes

Abstract

Studies indicate that more developed countries, compared to emerging countries, have more corporate scandals, which seems counterintuitive, contradicting common sense assumptions. Furthermore, we identified a gap in the methodological application of data collection when we found a more comprehensive method. In this sense, this work has two objectives: firstly, propose a method that improves the data collection process based on the agenda-setting theory; and secondly, based on this new method, collect, categorize, and analyze cases of high-profile corporate scandals in developed and emerging countries, comparing and discuss the results. With a sample ranging from 2010 to 2021, that includes Brazil, Canada, South Korea, Spain, India, Italy, and Mexico, and with the preliminary intention of understanding the phenomenon, we used contingency tables, frequency analyses, percentage distribution, and comparative analyses through charts. Our results suggest that emerging countries have more scandals, contradicting the preliminary findings; that no significant difference exists between the scandals of the studied groups; and that the collection model was validated as more comprehensive. The scandals’ profile and their prominent characteristics were also outlined. This study provided valuable insights into the dynamics of corporate scandals in developed and emerging markets. Our study provides insights into corporate scandal patterns in developed and emerging markets, helping investors, regulators, and governments better understand corporate scandal patterns and potentially leading to more transparent and ethical market functioning.