Economic and legal basis of implementation of compliance in business processes of enterprises

The study uses special legal methods: formal legal methods for classifying the main features of the compliance phenomenon, comparative legal methods for comparing compliance regulations in different countries, and logical and legal methods for improving legal regulation of compliance as a means of the economic well-being of enterprises.

AN EMPIRICAL STUDY OF THE EFFECTIVENESS OF THE USE OF COMPLIANCE IN THE COUNTRIES OF THE WORLD

The authors of the article grouped countries of the world to summarise the patterns and main trends in the use of compliance in different countries using cluster analysis tools.

Cluster analysis allows us to substantiate the trends in the development of compliance in countries of the world based on multidimensional data. The study proposes the following hypothesis: since any model determines certain rules for the development of business processes of enterprises and predicts trends in the development of the national economy, the application of clustering results will help enterprises in making management decisions on the selection of strategic partners and mitigating threats to economic security.

Countries are divided into clusters based on data generated from official statistics, recognised international ratings and indices.

The objects of classification for the cluster analysis of the effectiveness of compliance were the OECD countries, China and Ukraine.

The author's research methodology is based on a variety of types of compliance and their corresponding global indices: Corruption Perceptions Index (CPI) Transparency International, `Corruption Perceptions Index' (Transparency International, 2022) <https://www.transparency.org/en/cpi/2022> accessed 15 October 2023. for anti-corruption compliance, Global Organized Crime Index (GOCI) Global Initiative, `Global Organized Crime Index' (Global Initiative, 2023)

<https://globalinitiative.net/initiatives/odndex/?f_article_type=article&f_region=&f_crime_type=&f_ content_type=&f_publication_type> accessed 15 October 2023. for criminal law compliance, Environmental subindex Legatum Prosperity Index (EsLPI) Legatum Institute, The 2023 Legatum Prosperity Index™: A tool for transformation (16th edn, Legatum Institute Foundation 2023) <https://www.prosperity.com/download_file/view_inline/ 4789> accessed 15 October 2023. for environmental compliance,

Basel Anti-Money Laundering Index (Basel AML Index) Basel Institute on Governance, Basel AML Index 2022: Ranking money laundering and terrorist financing risks around the world (11th edn, Basel Institute on Governance 2022) <https://index.baselgovernance.org/download> accessed 15 October 2023. for financial compliance, Social Progress Index (SPI) Social Progress Imperative, `Social Progress Index 2022: Executive Summary' (Social Progress Imperative, 2023) <https://www.socialprogress.org/global-index-2022overview> accessed 15 October 2023. for labour compliance.

Anti-Corruption Compliance

CPI was chosen by the authors of the article to compare countries in terms of the effectiveness of anti-corruption compliance. Transparency International (n 59). The CPI measures perceived corruption in the public sector in 180 countries and territories and is based on surveys of experts and businesspeople. The CPI is based on 13 independent data sources and uses a scale from 0 to 100 points, where 0 points mean a high level of corruption and 100 points mean zero tolerance for corruption.

Despite the joint efforts and numerous achievements, the CPI in 2022 reflects the enormous scale of corruption in countries around the world. For eleven years in a row, the global average has remained unchanged at 43 out of 100 points. More than two-thirds of countries (68%) had CPI scores below 50. The lion's share of countries (90%) had a stable CPI level.

A study of the correlation between CPI and GDP per capita for OECD countries, China, and Ukraine revealed a significant relationship between these indicators according to Chaddock's scale (the coefficient of determination was 0.5327) (Fig. 1).

Fig. 1. Paired regression of the dependence of the level of economic development on the CPI of OECD countries, China and Ukraine, 2022

Fig. 1, ibid. Built by the authors based on the CPI in 2022.: Countries with strong institutions and a well-functioning democracy top the ranking. However, it should be noted that the CPI for 2022 showed that efforts to fight corruption as a priority area of anti-corruption programmes are not effective enough, which did not contribute to the improvement of the CPI in more than half of the countries.

In 2022, Denmark topped the CPI ranking with a score of 90. It is followed by Finland and New Zealand with 87 points. The high CPI scores in these countries are due to successful anti-corruption practices, a key element of anti-corruption compliance. Ukraine (33 points) and Mexico (31 points) had the worst scores in 2022 among the analysed countries, which placed them at the bottom of the ranking. The reason for this is the underdeveloped culture of anti-corruption compliance in these countries.

Fig. 1 clearly shows that countries are divided into three groups. The first and second groups consist of highly developed countries. The average group level of the CPI was points for Ireland and Norway, which were in the first group. The second group includes the largest number of countries studied - 29, 78.4% of the total analytical data set. The average level of the CPI for the second group of countries was 72.8 points. The average level of GDP per capita in the second group was more than twice as low as in the first group, amounting to USD 5,530. The third group includes six developing countries, including Ukraine. The average CPI for the third group of countries was points, almost half as much as for the second group. A similar trend can be observed for the average GDP per capita. In the third group, GDP per capita averaged USD 25855, more than twice as low as the corresponding indicator for the second group of countries.

CRIMINAL AND LAW COMPLIANCE

In the context of the study, the authors propose using the GOCI as a basis for substantiating the effectiveness of countries' use of criminal law compliance. Global Initiative (60). The GOCI is a multidimensional tool that assesses the level of crime and resilience to organised crime in three key pillars - criminal markets, criminal actors and resilience to organised crime. The GOCI uses a scale from 0 to 10 points, where 0 points represent the highest level of resilience to organised crime and 10 points represent the lowest level of resilience.

A study of the correlation between GOCI and GDP per capita for OECD countries, China and Ukraine, revealed a weak relationship between these indicators (the coefficient of determination was 0.2156) (Fig. 2). ibid. Built by the authors based on the GOCI in 2022.

Fig. 2. Paired regression of the dependence of the level of economic development on the GOCI of OECD countries, China and Ukraine, 2022

Fig. 2 also shows that countries are divided into three groups:

the first group (Ireland and Norway) with an average GOCI score of 4.5 points;

the second group of countries (30 OECD countries) - 4.7 points;

the third group (less developed OECD countries, China and Ukraine) - 7.0 points.

The data obtained suggests that the more efficiently the country's enterprises use the tools of criminal legal compliance, the higher the level of economic security and the level of economic well-being of the country.

Environmental Compliance

The effectiveness of using environmental compliance tools was substantiated with the help of EsLPI. Legatum Institute (n 61). The EsLPI measures the environmental aspects of the environment and the level of environmental protection. The EsLPI uses a scale from 0 to 100 points, where 0 points means the lowest level of use of environmental compliance instruments, and 100 points means the highest level of use. `Index Methodology' (The Legatum Centre for National Prosperity Home of the Legatum Prosperity Index™, 2023) <https://www.prosperity.com/about/methodology> accessed 15 October 2023.

A study of the correlation between EsLPI and GDP per capita for OECD countries, China, and Ukraine revealed a weak relationship between these indicators (the coefficient of determination was 0.2807) (Fig. 3). Built by the authors based on the EsLPI in 2022: Legatum Institute (n 61).

Fig. 3. Paired regression of the dependence of the level of economic development on the EsLPI of OECD countries, China and Ukraine, 2022

Fig. 3 also shows that countries are divided into three groups according to the level of efficiency of environmental compliance. The countries of the first group, Ireland and Norway, obtained an average EsLPI score of 71 points. The 29 OECD countries in the second group received 69.8 points. The six countries that formed the third group received 54.2 points.

The grouping results indicate that countries with high economic prosperity use environmental compliance instruments more effectively.

Financial Compliance

Basel AML Index is used to substantiate the effectiveness of countries' use of financial compliance instruments. Basel Institute on Governance (n 62). The Basel AML Index is a generalised composite indicator determined by the Basel Institute on Governance to identify and assess the risks of corruption in the financial sector, the involvement of a country in money laundering, and the financing of terrorism. It is measured on a scale from 0 to 10 points, where 0 points indicate minimal financial risks and 10 points are the maximum value of these risks. The Basel AML Index rating is based on five sub-indices: the quality of the anti-money laundering and counter-terrorist financing system (65%), corruption and bribery risks (10%), financial transparency and standards (10%), public transparency and accountability (5%), and political and legal risks (10%).

A study of the correlation between the Basel AML Index and GDP per capita in OECD countries, China and Ukraine, revealed a weak relationship between these indicators (the coefficient of determination was 0.2026) (Fig. 4). ibid. Built by the authors based on the Basel AML Index in 2022.

Fig. 4. Paired regression of the dependence of the level of economic development on the Basel AML Index of OECD countries, China and Ukraine, 2022

By visualising the pairwise regression of the dependence of a country's economic development level on the Basel AML Index (Fig. 4), the authors have identified three groups of countries. The first group traditionally includes two of the most developed countries (Ireland and Norway), with an average Basel AML Index score of 3.75 points in the group. The second group includes 30 OECD countries with an average Basel AML Index score of 3.91 points. The third group was formed by countries whose financial systems are most vulnerable to the risks of money laundering, terrorist financing and related crimes (China, Turkey, Mexico, Ukraine and Colombia). The average Basel AML Index score for the third group was 5.37 points.

Thus, more effective use of financial compliance tools ensures the minimisation and elimination of the risk of corruption and the country's involvement in money laundering and terrorist financing.

Labour Compliance

The Social Progress Index (SPI) has been used to substantiate the effectiveness of implementing labour compliance elements by countries around the world. Social Progress Imperative (n 63). The SPI is a multifunctional tool for measuring a country's social performance across 60 indicators. The SPI uses a scale from 0 to 100 points, where 0 points mean a low level of labour compliance efficiency, and 100 points mean a high level of application of this tool.

The study of the correlation between the SPI and the level of GDP per capita in the countries under study revealed a moderate relationship between these indicators (the coefficient of determination was 0.4722) (Fig. 5). ibid. Built by the authors based on the SPI in 2022.

Fig. 5. Paired regression of the level of economic development of a country on the SPI of OECD countries, China and Ukraine, 2022

Fig. 5 clearly shows that the countries are divided into three groups. The first and second groups consist of highly developed countries. In particular, the first group includes two countries (Norway and Ireland) with an average SPI score of 89.2 points. Norway became the leader in the SPI in 2022 with a score of 90.7 points. The second group includes 30 of the 37 countries surveyed, with an average SPI score of 86.1 points. The third group includes five developing countries, including Ukraine. Ukraine is the leader among the countries in the third group, scoring 74.17 points. The average SPI level for the third group of countries was 69.4 points.

All the above makes it possible to state the importance and leading role of labour compliance in ensuring the economic security of enterprises through the fair and responsible application of compliance policies by staff and management.

Clustering of the Countries of the World

The clustering of countries by the degree of use of compliance types in the business processes of enterprises was carried out in the Statistica software with the construction of a dendrogram using the Ward method (Fig. 6). Built by the authors in Statistica based on the CPI, GOCI, EsLPI, Basel AML Index, SPI in 2022: Transparency International (n 59); Global Initiative (60); Legatum Institute (n 61); Basel Institute on Governance (n 62); Social Progress Imperative (n 63). The developed dendrogram allows us to identify and summarise countries in which the degree of efficiency of using compliance tools in all priority areas is similar. This allows business structures to identify safer strategic partners and countries to implement and develop compliance policies to ensure economic security.

The dendrogram (Fig. 6) and Tab. 2 show that countries belong to a certain cluster, which allowed us to identify these clusters as:

countries with a high level of compliance effectiveness, which include 18 highly developed countries that actively implement compliance at all levels of economic entities and in all priority areas, countries with an average level of compliance effectiveness, which include 14 countries where compliance is implemented in a fragmented manner (for some types of compliance), countries with a low level of compliance effectiveness, including 5 countries where compliance is at the initial stage of implementation.

Identifying country clusters allows for a deeper understanding of the specifics of the use of compliance tools in countries with different levels of compliance culture. It also identifies challenging and promising areas for the development of compliance for different classification groups of countries and becomes the basis for compliance programmes, etc.

The cluster analysis conducted only for the OECD countries, China and Ukraine cannot claim to be complete, but it should be recognised as satisfactory, especially given the fact that countries with quite different economic development characteristics were selected, which can be considered the basis for clusters joined by other countries of the world. The hierarchical cluster formation procedure ensures that such extended clusters will be formed automatically around the clusters already built around the most representative countries.

Tab. 2 presents statistical metrics (Euclidean distances between the resulting clusters and average values) for each of the studied predicates of the formed clusters. Compiled and calculated by the authors in Statistica 12 based on the CPI, GOCI, EsLPI, Basel AML Index, SPI in 2022: Transparency International (n 59); Global Initiative (60); Legatum Institute (n 61); Basel Institute on Governance (n 62); Social Progress Imperative (n 63).

Table 2. Results of cluster analysis

Tab. 2 shows that the clusters differ most in terms of the CPI prediction, followed by the EsLPI and that the average for the SPI is insignificantly different.

Thus, the clustering of the OECD countries, China and Ukraine, allowed us to identify common features in the effectiveness of compliance tools in the following priority areas: anti-corruption, criminal law, environmental, financial and labour compliance. Clustering is only the first step in strengthening the economic security of countries. Identification of common features in the use of compliance in different countries is the basis for forming a set of mechanisms to improve compliance programmes and accelerate the economic development of these countries.

VALIDITY OF THE RESULTS OF THE STUDY ON THE EFFECTIVENESS OF COMPLIANCE IMPLEMENTATION IN EASTERN EUROPEAN COUNTRIES

According to the results of the cluster analysis (Table 2), almost all of the Eastern European countries under study, unfortunately, belong only to the cluster of «countries with an average level of compliance effectiveness» (the second cluster). This is because they are OECD and EU countries with economies in transition. However, due to the active implementation of international standards of compliance control in the business processes of companies, the Euclidean distances between the countries under study and those with a high level of compliance efficiency (the first cluster) are rapidly decreasing.

Fig. 6 shows that Eastern European countries such as Poland, the Czech Republic and Slovakia formed a subcluster in the second cluster by statistical metrics, which indicates common features in the use of compliance tools, which is not always highly effective in the context of economic security. This encourages these countries to develop reform programmes with the same focus on implementing universal supranational compliance practices.

Ukraine is one of the Eastern European countries. The dendrogram (Fig. 3) and (Tab. 2) show that Ukraine belongs to the cluster of «countries with a low level of compliance efficiency». This is because almost the entire period of independent Ukraine's existence has been characterised by permanent reforms of both the public administration with its insufficiently effective judicial system and the systems of state healthcare, education, etc. and the economic sector, which suffers from shadowing and oligarchisation. Amelicheva (n 9) 8. The convergence of Ukrainian legislation with EU legislation, OECD international instruments, and regulations of other developed partner countries such as the United States and the United Kingdom, including on compliance issues, is also too slow.

The Russian aggression has become a catalyst for large-scale operational risk for most companies, which includes, in particular: 1) business continuity risk (losses associated with material damage, losses associated with intangible assets, personnel-related losses, lost income (profit) or lost profits, losses associated with the loss of investment opportunities);

2) the risk of interaction with third parties, jeopardising contracts, delivery times, and cybersecurity of companies. If realised, this risk may result in both loss of services/goods and default; 3) cyber risk has become even more relevant in times of war due to ideological motives, making it more difficult to track the target of an attack; 4) the risk of financial crime due to export controls and bans, and the scrutiny of regulators. This risk is particularly relevant to the financial sector. The risk of corporate fraud in companies also remains relevant, as in any crisis, some people will want to take advantage of the situation and make money. Companies should continue to review their processes, such as those related to charitable contributions, financial assistance, procurement, etc. Kateryna Safronenko, `The Role of Compliance in Wartime: The Main Directions of Compliance Activities in Ukraine' (KPMG, 2 August 2022) <https://kpmg.com/ua/uk/blogs/home/posts/ 2022/08/rol-komplayensu-pid-chas-viyny.html> accessed 15 October 2023.

As the situation in Ukraine is changing very rapidly amid the armed aggression of the Russian invaders, compliance must be as flexible and responsive as possible to help businesses cope with threats in times of turbulence. The areas on which the compliance function should focus will depend on the business area. However, the above risks should be considered by all companies regardless of industry, with more attention paid to anticorruption, financial, criminal, labour and environmental compliance.

Ukraine needs to develop a National Programme on State Support for the Implementation of Compliance by Small and Medium-Sized Enterprises for 2024-2029 and adopt it as a law. This programme should include state measures to introduce compliance in small and medium-sized businesses in the above priority areas.

The process of Ukraine's accession to the OECD is currently important for overcoming corruption and establishing sustainable and secure economic relations with the member states of this well-known global organisation. To do so, Ukraine needs to ratify the 1997 OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions. `“The process of Ukraine's integration to the OECD is important not only for overcoming corruption but also for ensuring peace in the world”, - Head of the NACP Oleksandr Novikov' (National Agency on Corruption Prevention, 30 August 2022) <https://nazk.gov.ua/en/the-process-of-ukraine-s- integration-to-the-oecd-is-important-not-only-for-overcoming-corruption-but-also-for-ensuring- peace-in-the-world-head-of-the-nacp-oleksandr-novikov/> accessed 15 October 2023.

The author's approach to studying the effectiveness of the implementation of compliance tools using mathematical calculations and probabilistic and graphical methods allowed us to diagnose the countries of Eastern Europe and determine their belonging to certain clusters by the level of compliance implementation effectiveness. This allows these countries to develop compliance policies aimed at ensuring economic security.

CONCLUSIONS

All the above leads to the following conclusions.

The transnationalisation of global economic relations necessitates introducing modern tools in enterprises that minimise legal, economic and reputational risks and promote the establishment of sustainable and fair business relations. Among these tools, compliance is currently the most effective and influential.

The study highlights the essence and purpose of business process compliance and its growing role. It also identifies external and internal factors and trends that can harm the economic security of an enterprise.

Based on the synergistic approach, the author establishes that the definition of `compliance' is inconsistent with conceptual and categorical apparatuses of economic and legal sciences. The legal and economic nature of this category is not clearly defined and has not been studied by scholars. In jurisprudence, this concept tends to be related to the conceptual apparatus of labour, civil, commercial, corporate, criminal, administrative, and environmental law, which confirms its multidimensional and multifunctional nature in legal discourse. In the economy, compliance has also enriched the categorical apparatus of many sciences and is actively used as an effective means of implementing measures to ensure the economic security of any socio-economic systems (enterprises, industries, regions, countries, etc.), and contributes to strengthening the economic goodwill of any country and its business structures that understand its value and share the principles of integrity.

The authors evaluate the effectiveness of applying the leading types of compliance (anticorruption, criminal law, environmental, financial, and labour) in the economies of OECD and other countries.

As a result of the empirical study of the pairwise correlation of the indices corresponding to the leading types of compliance and GDP per capita, it was proved that the level of GDP per capita in the entire analytical array of countries was significantly influenced by the Corruption Perceptions Index (the coefficient of determination was 0, 5327), moderate influence - Social Progress Index (coefficient of determination - 0.4722), weak influence - Environmental subindex Legatum Prosperity Index (coefficient of determination - 0.2807), weak influence - Global Organised Crime Index (coefficient of determination - 0.2156), weak influence - Basel AML Index (coefficient of determination - 0.2026).

Based on the cluster analysis of OECD countries, China and Ukraine, three clusters of countries were identified by the effectiveness of compliance. Countries with a high level of compliance effectiveness, including Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Iceland, Japan, the Netherlands, Norway, Sweden, Switzerland, the United Kingdom, the United States and the United States, formed the first cluster. These countries focus their policies on actively using compliance tools at all levels, in all priority areas, and on developing and implementing joint compliance programmes. The second cluster includes the following countries: Chile, Czech Republic,

Greece, Hungary, Israel, Italy, Korea, the Baltic States, Poland, Portugal, Slovakia, Slovenia, Spain, Spain and Hungary, which use compliance tools in a fragmented manner. The third cluster was formed by countries with a low level of compliance effectiveness, which includes the following countries: China, Colombia, Mexico, Turkey, and Ukraine, where compliance is still in its infancy.

It is substantiated that to strengthen the political will of governments, especially in developing countries, to extend compliance into the national business environment, to develop a national strategic document on the phased implementation of the compliance system in business processes of enterprises, an international instrument of general action (in the form of a UN Convention) should be developed, which will facilitate more active implementation of all types of compliance by governments.

Considering the limited financial resources of small and medium-sized businesses, especially in developing countries, it is proposed that governments provide small and medium-sized businesses with the opportunity to master compliance through business incubators on favourable terms, based on ISO 37301:2021 `Compliance Management System - Requirements with Guidelines for Use'.

It is recommended that the profession of `compliance officer' (compliance manager) be in the classification of professions at the national level. This profession directly relates to the internal/external control of the organisation's activities, allocating certain labour functions and competencies inherent in the compliance system.

It is proposed that Ukraine develop a National Programme to Support the Implementation of Compliance by Small and Medium-Sized Enterprises for 2024-2029 and adopt it as a law. This programme should include state measures aimed at implementing compliance in small and medium-sized businesses in the above priority areas.

The process of Ukraine's accession to the OECD is currently important for overcoming corruption and establishing sustainable, secure economic relations with the member states of this well-known global organisation. For this purpose, Ukraine needs to ratify the 1997 OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions.

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