Unravelling corporate crimes within listed companies: a multi-case study of selected South African and German companies

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dc.contributor.advisorMupangavanhu, Brighton
dc.contributor.advisorThabane, Tebello
dc.contributor.advisorLouw, Michelle
dc.contributor.authorYingwane, Themba Trevor
dc.date.accessioned2026-07-09T08:49:11Z
dc.date.available2026-07-09T08:49:11Z
dc.date.issued2026
dc.date.updated2026-07-09T08:48:19Z
dc.description.abstractThis study offers critical insight into the influence of director–shareholder relationships on the emergence of corporate criminogenic practices, with particular reference to the Steinhoff, Volkswagen, and Wirecard cases. It further interrogates the potential of shareholder activism as a mechanism for curtailing such practices. The study employs a doctrinal methodology, systematically analysing case law, statutory frameworks, and governance structures in relation to the selected case studies. The research also adopts a quasi-hybrid approach, integrating both meta-analysis and case-law analysis derived from doctrinal and qualitative methodologies, respectively. The study demonstrated that Steinhoff, Volkswagen, and Wirecard managers engaged in criminogenic practices autonomously, without shareholders' influence. This phenomenon was primarily influenced by micro-drivers such as avarice, pathogenic narcissistic characters, and intricate corporate structures, as well as macro-drivers such as unfavourable relationships with stakeholders, ambiguous regulations, and auditors' deficient scepticism. Accordingly, the injurious managerialism culture further enabled managers to pursue profit maximisation without regard for consequences, to appease shareholders, as highlighted by the annual report syndrome. Similarly, the involvement of the majority shareholders on the supervisory board or as CEO potentially compromised their oversight role and moral judgement, as accentuated by shareholder risk theory. Moreover, the study found that shareholder activism can contribute to curtailing corporate criminogenic practices, especially when they apply decisive shareholder activism. These results make a unique contribution to the existing knowledge within corporate law and governance (including shareholder activism), corporate crime, compliance, and ethics literature. The study further sparks a discourse on the potential of shareholder activism in curtailing corporate criminogenic practices.
dc.identifier.apacitationYingwane, T. T. (2026). <i>Unravelling corporate crimes within listed companies: a multi-case study of selected South African and German companies</i>. (). University of Cape Town ,Faculty of Law ,Department of Commercial Law. Retrieved from http://hdl.handle.net/11427/43526en_ZA
dc.identifier.chicagocitationYingwane, Themba Trevor. <i>"Unravelling corporate crimes within listed companies: a multi-case study of selected South African and German companies."</i> ., University of Cape Town ,Faculty of Law ,Department of Commercial Law, 2026. http://hdl.handle.net/11427/43526en_ZA
dc.identifier.citationYingwane, T.T. 2026. Unravelling corporate crimes within listed companies: a multi-case study of selected South African and German companies. . University of Cape Town ,Faculty of Law ,Department of Commercial Law. http://hdl.handle.net/11427/43526en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Yingwane, Themba Trevor AB - This study offers critical insight into the influence of director–shareholder relationships on the emergence of corporate criminogenic practices, with particular reference to the Steinhoff, Volkswagen, and Wirecard cases. It further interrogates the potential of shareholder activism as a mechanism for curtailing such practices. The study employs a doctrinal methodology, systematically analysing case law, statutory frameworks, and governance structures in relation to the selected case studies. The research also adopts a quasi-hybrid approach, integrating both meta-analysis and case-law analysis derived from doctrinal and qualitative methodologies, respectively. The study demonstrated that Steinhoff, Volkswagen, and Wirecard managers engaged in criminogenic practices autonomously, without shareholders' influence. This phenomenon was primarily influenced by micro-drivers such as avarice, pathogenic narcissistic characters, and intricate corporate structures, as well as macro-drivers such as unfavourable relationships with stakeholders, ambiguous regulations, and auditors' deficient scepticism. Accordingly, the injurious managerialism culture further enabled managers to pursue profit maximisation without regard for consequences, to appease shareholders, as highlighted by the annual report syndrome. Similarly, the involvement of the majority shareholders on the supervisory board or as CEO potentially compromised their oversight role and moral judgement, as accentuated by shareholder risk theory. Moreover, the study found that shareholder activism can contribute to curtailing corporate criminogenic practices, especially when they apply decisive shareholder activism. These results make a unique contribution to the existing knowledge within corporate law and governance (including shareholder activism), corporate crime, compliance, and ethics literature. The study further sparks a discourse on the potential of shareholder activism in curtailing corporate criminogenic practices. DA - 2026 DB - OpenUCT DP - University of Cape Town KW - Corporate Governance KW - Criminogenic Practices KW - Compliance KW - Directors KW - Ethics KW - Shareholder Activism KW - Agency Theory KW - Shareholder Primacy LK - https://open.uct.ac.za PB - University of Cape Town PY - 2026 T1 - Unravelling corporate crimes within listed companies: a multi-case study of selected South African and German companies TI - Unravelling corporate crimes within listed companies: a multi-case study of selected South African and German companies UR - http://hdl.handle.net/11427/43526 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/43526
dc.identifier.vancouvercitationYingwane TT. Unravelling corporate crimes within listed companies: a multi-case study of selected South African and German companies. []. University of Cape Town ,Faculty of Law ,Department of Commercial Law, 2026 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/43526en_ZA
dc.language.isoen
dc.language.rfc3066eng
dc.publisher.departmentDepartment of Commercial Law
dc.publisher.facultyFaculty of Law
dc.publisher.institutionUniversity of Cape Town
dc.subjectCorporate Governance
dc.subjectCriminogenic Practices
dc.subjectCompliance
dc.subjectDirectors
dc.subjectEthics
dc.subjectShareholder Activism
dc.subjectAgency Theory
dc.subjectShareholder Primacy
dc.titleUnravelling corporate crimes within listed companies: a multi-case study of selected South African and German companies
dc.typeThesis / Dissertation
dc.type.qualificationlevelDoctoral
dc.type.qualificationlevelPhD
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