Proceedings of the 2024 4th International Conference on Enterprise Management and Economic Development (ICEMED 2024)

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The Legal Responsibilities of Multinational Corporations in Developing Countries

Authors
Kongming Zhou1, *
1Aquinas International Academy, 3200 Guasti Rd, Suite 100, Ontario, CA, 91761, USA
*Corresponding author. Email: zhoukongming@syswork.cn
Corresponding Author
Kongming Zhou
Available Online 2 September 2024.
DOI
10.2991/978-94-6463-506-5_29How to use a DOI?
Keywords
Multinational Corporations (MNCs); Developing Countries; Legal Responsibilities
Abstract

In the current age of globalisation, Multinational Corporations (MNCs) have expanded their operations to a multitude of developing countries, bringing with them a host of legal responsibility issues. This paper examines the expansive activities of MNCs over several decades and their profound effects on developing nations. It highlights the inadequacies within the legal and regulatory frameworks of these countries, which often fail to protect the rights of workers and consumers adequately. The paper provides an analysis of the systemic shortcomings that have allowed MNCs to operate with relatively fewer constraints in developing markets. Furthermore, it proposes a suite of strategies and recommendations designed to fortify legal compliance and ethical business conduct. These recommendations underscore the need for a concerted effort among MNCs, governments, civil societies, and international organizations to build a truly free-market system that is grounded in legal responsibilities and conducive to sustainable development. Such collaborative actions are imperative for the protection of essential rights, including labour rights, environmental preservation, and consumer protection, ensuring that all stakeholders benefit from equitable economic growth.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2024 4th International Conference on Enterprise Management and Economic Development (ICEMED 2024)
Series
Advances in Economics, Business and Management Research
Publication Date
2 September 2024
ISBN
978-94-6463-506-5
ISSN
2352-5428
DOI
10.2991/978-94-6463-506-5_29How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Kongming Zhou
PY  - 2024
DA  - 2024/09/02
TI  - The Legal Responsibilities of Multinational Corporations in Developing Countries
BT  - Proceedings of the 2024 4th International Conference on Enterprise Management and Economic Development (ICEMED 2024)
PB  - Atlantis Press
SP  - 252
EP  - 264
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-506-5_29
DO  - 10.2991/978-94-6463-506-5_29
ID  - Zhou2024
ER  -