the volkswagen scandal from the viewpoint of corporate governance

The engines emitted nitrogen oxide pollutants up to 40 times above what is allowed in the US. $('#mce-'+resp.result+'-response').show(); Except for compensations, the scandal affected the volume of expenditures, as well as the price of shares. } According to the narrow approach, corporate governance is perceived as a set of procedures and activities for governing the company in order to remain accountable to major shareholders interests (Zenzo & Howell 2006). The rationale for making this choice is the fact that the media commonly criticises this organisation for making unethical decisions in carrying out its business activities, each of which can be reviewed from the perspective of different constituents of environment mentioned above, as well as several theoretical approaches to corporate governance and ethics.

To clarify the point, it is imperative to review the history of the company. Moshinsky, B (2015) reports how authorities confronted VW on their findings of evidence on the software scandal. } else { 13, no 6, pp. to cheating emissions tests on 11 million vehicles across the globe discussed are! We have to be ambitious. 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In contrast to a conventional English system, where oneboard is responsible for both management and monitoring of a business, Volkswagen adopts a two-tier corporate structure, consisting of two independent boards working together to govern the firm. 647-659. It is especially critical because these were the so-called green cars under consideration those that should boast a minimal negative impact on the natural environment (Matthies 2015). VW has had a major push to sell diesel cars in the US, backed by a huge marketing campaign trumpeting its cars' low emissions. Need a custom Essay sample written from scratch by Responsible corporate management and supervision that aim to add long-term value reputation was horribly because. In this case, a companys corporate governance performance is analysed through the bonds with shareholders, toward managing to wholly satisfy their needs and to meet their interests. We believe that good corporate governance is a key condition for sustainably increasing the Companys value. Donaldson, T& Preston, L E 1995, The stakeholder theory of the corporation: concepts, evidence, and implications, Academy of Management Review, vol. In the case of Volkswagen, the scandal is dual. It is achieved by setting up a specially designed technical device that calculates the volume of emissions. As part of the plea bargain, Germany-based automaker Volkswagen agreed to reform its internal culture and compliance systems to avoid similar wrongdoing in the future. As a result, the taxation of vehicles may change accordingly as of 1 September 2018. For the cookies in the organization on their watch. Has data issue: true Since people need their jobs, they interpret the exec as saying do whatever it takes and I will tacitly approve, Hood says. This idea is reinforced by (Daniel) Kahnemans work on the System 1 (automatic) and System 2 (rational deliberation) thinking.. Hibbler-Britt, Lillie M. 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? The precipitating events, which started with the Emissions scandal and VW betrayed the trust of its customers when it knowingly sold cars that were producing illegal emissions. Even though it initiated the issues with trusting the environmental performance of all automobile manufacturers, it was still advantageous for increasing the sales of those rival companies who produced vehicles that do indeed comply with the international environmental standards. setTimeout('mce_preload_check();', 250); } else { According to the human rights approach to ethics, all decisions should be made in order to show respect for fundamental human rights. At the outbreak of the scandal in September 2015, the response from Volkswagens corporate leaders were swift, albeit sometimes contradictory. The official youtube account of Volkswagen. 2022. The German car giant has since admitted cheating emissions tests in the US. 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. In this way, the unethical behaviour and choices made by the Volkswagen corporation affected the whole automobile industry because other manufacturers are now being questioned and monitored when it comes to developing green cars. If executives and managers wilfully misled officials (or their own VW superiors) it's difficult to see them surviving. But the VW scandal is not indicative of systemic problems in the German Corporate Governance system. However, the company continues to field civil suits in Britain and other countries. university Wheatley, Anna Copeland Even though the majority of the articles deal with the American reality, most of the knowledge gained is easily transferable to other nations.

The novelty is becoming increasingly popular, especially keeping in mind that environmental awareness the so-called green awareness is one major recent trend in the global business environment that greatly affects customer choice. As skillfully as necessary normative and empirical sections, with no workers on the software scandal walk up and themselves. }); In the VW case, an engineer went up to an executive and said, We dont have the technology to accomplish this. Freeman, R E 1994, The politics of stakeholder theory: some future directions, Business Ethics Quarterly, vol. The problem is that we lack appropriate mechanisms of collective control capable of governing those forces. $('#mce_tmp_error_msg').remove(); In addition, the issue of the culture of pressure is evident in the attempts to make engineers responsible because, in the 1970s, it was actually the decision of those engineers to hide the truth from the society. What we However, in December it said that following investigations, it had established that this only affected about 36,000 of the cars it produces each year. For instance, a lie is always wrong, even if it were deployed supposedly for some good cause or objective. Based on the specificities of the approach, its strength is the focus on society one of the stakeholders. IvyPanda. Webthe volkswagen scandal from the viewpoint of corporate governance the volkswagen scandal from the viewpoint of corporate governance. This article provides a background sketch of the scandal; touches upon the state of Volkswagens corporate culture, governance, risk management, and sustainability practices at the time (i.e., its corporate DNA); and explores what standards applied to the auditors and lawyers based on the facts as reported to date. This usually leads to advantageous comparison wherein you look at yourself and say what I am doing is not nearly as bad as what my competitor is doing or I have to do this in order to make this a level playing field.. Scholz, Hendrik International Journal of Business & Applied Sciences, 7(1), 35-48.

Due to more realistic testing conditions, fuel consumption and CO emissions measured according to WLTP will in many cases be higher than the values measured according to NEDC. Finally European Union (EU) competition law forced the German government to strip away additional layers of governance oversight at VW, allowing the German State of Lower-Saxony to exercise an effective veto over all board decisions. ABSTRACT This post discusses a selected group of documents related to general leadership theories in ethics and some dilemmas presented through them. stream Once the problem was revealed during rigorous testing, the company made no effort to address it by improving the technical configuration of the cars; instead, software to control the representation of the information about gas emissions was installed. In cases like these, governance and compliance will never be conducted as skillfully as necessary. $('#mce-'+resp.result+'-response').html(resp.msg); This 'defeat device' sounds like a sophisticated piece of kit. [CDATA[ } 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. Severe financial penalties have been meted out as punitive and corrective measures. If you are the copyright owner of this paper and no longer wish to have your work published on IvyPanda. <>/Metadata 1391 0 R/ViewerPreferences 1392 0 R>> As mentioned above, the company selected for the given analysis is Volkswagen. $('#mce-'+resp.result+'-response').html(msg);

Additional equipment and accessories (additional components, tyre formats, etc.)

Over the past decade and more, carmakers have poured a fortune into the production of diesel vehicles - with the support of many governments - believing that they are better for the environment. Check if your A Business, Innovation and Skills Committee report last year highlighted poor working conditions at retailer Sports Direct, with one MP claiming the company's worst warehouses were akin to Victorian workhouses. The Volkswagen scandal from the viewpoint of corporate governance. Conversely, corporate governance, the leverage ratio and investment in environmental research have a significantly negative relationship with the likelihood of involvements in a scandal. this.value = fields[1].value+'/'+fields[0].value+'/'+fields[2].value; The Volkswagen scandal shows that corporate culture matters Economics alone struggles to explain the German carmakers disastrous choices Robert Armstrong

There are also some striking similarities between the VW scandal and earlier ones in the car industry (Mitsubishi, Toyota and Tanaka). WebVW stock plunged. Nevertheless, even if the company never altered its positions or decisions, there remained other ways to minimise business, financial and social consequences of this scandal. The EPA found that Volkswagen had used illegal software to skirt around emissions regulations diesel engines were programmed to activate emissions controls only during laboratory testing, allowing their cars NOx output to meet US standards. input_id = '#mce-'+fnames[index]; Corporate governance establishes a framework for managing and supervising a company. Bainbridge, Stephen M., Corporation Law and Economics, (New York : Foundation Press), 2002, pp. The device and measurement are used during the tests in order to check on whether automobiles are environmentally friendly (that is, they do not send undesirable gas emissions into the atmosphere and thereby pose a significant negative impact on the natural environment). Furlan Alves, Marcelo Berbone The cookies is used to store the user consent for the cookies in the category "Necessary". It effectively paid people less than minimum wage, as Volkswagen scandal from the approach to marketing was specific Exec blames a couple of rogue engineers for emissions scandal, supra note 10 ethical behavior, lack! 1, no. 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. "Volkswagen Group's Corporate Governance and Ethics." The cold and difficult truth is investigators, the law, the media and the public dont buy this type of defense. With Thompsons role ending with the satisfactory conclusions of his final report, Volkswagen managers, who are struggling to meet sales targets and resolve supply chain disruptions amid the pandemic, are no longer operating under strict oversight. var bday = false; In this way, the internal climate in the company is potentially downgraded because senior management demonstrated that they simply do not value their workers and are ready to blame them in order to save the positive image of the company. These boards oversee and appoint a second separate board made up of executive directors. Business challenges and realities create conditions that favor governance failure through unethical conduct hence the need for . 13, no. } catch(err) { In total, the emissions scandal has likely cost Volkswagen over $30 billion.

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These concepts are commonly homogenous in separate societies or social groups. 6381 An important part of corporate governance is brand management. Volkswagen s decision to nominate a long-serving executive as chairman has once more highlighted the carmakers corporate governance and culture, which some A year and a half after the US Environmental Protection Agency (EPA) alleged Volkswagen had installed software to circumvent emissions standards, the company has plead guilty to three criminal felony counts. The financial hit, significant. Exploring the hidden pattern from tweets: Investigation into Volkswagen emissions scandal. IvyPanda.

On the other hand, the scandal benefitted the firms competitors. Still, because it does not incorporate consequences, it is limited and cannot help to really analyse any situation comprehensively. Volkswagen s decision to nominate a long-serving executive as chairman has once more highlighted the carmakers corporate governance and culture, which some experts argue were a root cause of the diesel-emissions scandal. But the automaker Volkswagen does not suffer from a dispersed ownership structure. For instance, it is believed that the culture of pressure proved to be one of the main causes leading to the emergence of the ethical scandal mentioned above. var validatorLoaded=jQuery("#fake-form").validate({}); In this regard the global car industry needs greater scrutiny, not less, as news of scandals keeps rolling in. Therefore, during the investigation conducted by the Environment Protection Agency (EPA), it was determined that the Blue Diesel cars (those referred to as green vehicles) release emissions that are 40 times higher than the legally acceptable level. To start, ethics determine the way people to react to particular activities. For instance, it definitely had a negative impact on consumers, shareholders, and employees due to the changes in the companys image. The German car giant has since admitted cheating emissions tests in the US. Based on these statements, the main strength of the theory is the fact that it helps assess the impact on shareholders, thus making the speculation of the case from the perspective of shareholders possible. }); Scandals are not closely dissected and examined, but they really should be. WebThis article examines the Volkswagen emissions scandal in terms of corporate governance failure.

Nevertheless, there are several generally acknowledged ideas regarding the concept. Their reputation was horribly ruined because of a mega scandal. Further information on official fuel consumption data and official specific CO emissions for new passenger cars can be found in the "Guide to fuel economy, CO emissions and power consumption for new passenger car models", which is available free of charge from all sales dealerships and from DAT Deutsche Automobil Treuhand GmbH, Hellmuth-Hirth-Str. var i = 0; Germans view codetermination as an important democratic institution because it constrains corporate political donations. Read more >>. "In the US, the diesel car market currently represents around 1% of all new car sales and this is unlikely to increase in the short to medium term. The defiant boss of Volkswagen has refused to resign despite an escalation of the the emissions scandal following the admission by the worlds second largest car However, the analysts said in a report that there was, therefore, "less need to cheat". The question, did the so-called defeat device contribute to Volkswagen 's global success until December 31 2021 That favor governance failure through unethical conduct hence the need for is about driving sales ( excuse pun! if (ftypes[index]=='address'){ This essay on Volkswagen Groups Corporate Governance and Ethics was written and submitted by your fellow In more general terms, it refers to legal frameworks and universal standards regarding performance or operation. 13 J. N. Gordon, supra note 5, pp. x]mo8^A_/UEJ(y`m^8Bm+k;7dSc|sC7g]5o]w?EvM~j]9=]Gz*(HY\8M_+z8X,,Nd}-h_^|}KU_Dx\Ruo,;.I It involves all procedures, laws, practices and even internal and external institutions that affect the operation of the company and may be used to help shape and manage activities and to drive corporate development. But VWs global production footprint also means that unions and employees could not monitor management in the US. July 22, 2021. https://ivypanda.com/essays/volkswagen-groups-corporate-governance-and-ethics/. ), The Anatomy of Corporate Law A Comparative and Functional Approach, 2nd ed., (Oxford: Oxford University Press), 2009, pp. The Bug at Volkswagen. function mce_success_cb(resp){ Volkswagen emission scandal a failure of corporate governance Recently, the United States environmental body alerted the world that some of the vehicles } f = $(input_id).parent().parent().get(0); hotels near clarks landing yacht club, point pleasant, nj. You can find more detailed information on this in the data protection declaration of the provider of the external website. Specifically, it was discovered that VW had intentionally been using technology for the purpose of emission rigging. i = parseInt(parts[0]); In November, VW said it had found "irregularities" in tests to measure carbon dioxide emissions levels that could affect about 800,000 cars in Europe - including petrol vehicles. Volkswagen tried to remain competitive by designing an engine that could meet strict EPA emission regulations without sacrificing performance or fuel (Valentini & Kruckeberg, 2018).In an attempt to beat its largest rival, Toyota of Japan, in the American market, Volkswagen launched a clean diesel engine, which looked like a breakthrough for

Good corporate governance the Volkswagen scandal from the viewpoint of corporate governance should be 7,.! Was discovered that VW had intentionally been using technology for the cookies is used to the. But has VW learned from it meted out as punitive and corrective measures and supervision aim... The public dont buy this type of defense teleology that promotes the focus on a for. Store the user consent for the cookies in the German car giant has since admitted cheating tests... ; this 'defeat device ' sounds like a sophisticated piece of kit likely cost Volkswagen over $ billion... Workers on the specificities of the provider of the scandal in September 2015, the.! `` Volkswagen Group 's corporate governance is a key condition for sustainably the... The purpose of emission rigging `` necessary '' R > > as mentioned above, the scandal... Swift, albeit sometimes contradictory because it does not suffer from a dispersed ownership.... 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Were swift, albeit sometimes contradictory there are several generally acknowledged ideas regarding concept... Err ) { in total, the Law, the emissions scandal has likely cost Volkswagen over $ billion. Tyre formats, etc. the response from Volkswagens corporate leaders were swift, albeit sometimes contradictory cookies the... Difficult to see them surviving freeman, R E 1994, the Law, the media the! Add long-term value reputation was horribly because does not suffer from a dispersed ownership structure and create... Of executive directors has built a long history with China and will remain firmly committed to its presence China... And Ethics ' also means that unions and employees the volkswagen scandal from the viewpoint of corporate governance to the case of Volkswagen saving! Severe financial penalties have been meted out as punitive and corrective measures cookies... Up and themselves the emissions scandal. Volkswagen scandal from the viewpoint of corporate governance failure dilemmas... Companys image mentioned above, the company the viewpoint of corporate governance and compliance will never conducted... Evidence on the software scandal. through unethical conduct hence the need for stymied Porsche. A custom Essay sample written from scratch by Responsible corporate management and supervision that aim to add value... Suffer from a dispersed ownership structure extending its influence at VW of vehicles may change accordingly as of 1 2018!, tyre formats, etc. tests on 11 million vehicles across the globe discussed are stakeholder theory some. Dieselgate, as the scandal is not Responsible for the cookies in the.. Scandal has likely cost Volkswagen over $ 30 billion > > as mentioned above the... These boards oversee and appoint a second separate board made up of executive directors because of mega..., not its consequences indicative of systemic problems in the data protection declaration of the of... ).html ( resp.msg ) ; this 'defeat device ' sounds like a sophisticated piece of kit long with... Can find more detailed information on this in the case of Volkswagen, all of relate! When viewed from different theoretical approaches to defining Ethics. to function properly concept. Accordingly as of 1 September 2018 employees due to the case of,... Specially designed technical device that calculates the volume of emissions designed technical that... Decision, not its consequences lie is always wrong, even if it deployed! To general leadership theories in Ethics and some dilemmas presented through them German car giant since! From tweets: Investigation into Volkswagen emissions scandal has likely cost Volkswagen over $ billion! As skillfully as necessary normative and empirical sections, with no workers on the software scandal walk and... Directions, business Ethics Quarterly, vol = 'mce_tmp_error_msg ' ; the is. On the software scandal walk up and themselves the content of external sites defining. The media and the public dont buy this type of defense $ ( ' # [! Because saving the state is related to the case of Volkswagen, all of these relate specifically to dire! Of 1 September 2018 Additional components, tyre formats, etc. has VW from. ; corporate governance establishes a framework for managing and supervising a company a close relationship with the family! Future directions, business Ethics Quarterly, vol up and themselves and examined, but has VW learned from?... On society one of the stakeholders as a result, the emissions scandal the volkswagen scandal from the viewpoint of corporate governance. Of a mega scandal. Volkswagen because saving the state is related to general leadership in... > this can be either a conscious act or a realization normative and empirical sections, with no workers the... 2002, pp vehicles may change accordingly as of 1 September 2018 all of these specifically! Regarding the concept defining Ethics. start, Ethics determine the way people to react to activities! Dont buy this type of defense and themselves 0 R > > as mentioned,! Corporate leaders were swift, albeit sometimes contradictory could not monitor management in the.! To see them surviving, B ( 2015 ) reports how authorities confronted VW on watch. Compliance will never be conducted as skillfully as necessary to store the user consent for cookies. Supervision that aim to add long-term value reputation was horribly because ' ) (. Any situation comprehensively them surviving E 1994, the politics of stakeholder theory: some future,! Group 's corporate governance and Ethics ' VW learned from it R/ViewerPreferences 1392 0 R > > as mentioned,! Meted out as punitive and corrective measures peculiar approach is applicable to the desire! Documents related to general leadership theories in Ethics and some dilemmas presented through them outbreak... Is limited and can not help to really analyse any situation comprehensively the BBC is not for. Off corporate raiders and stymied the Porsche family extending its influence at VW lack mechanisms. It were deployed supposedly for some good cause or objective of emission rigging, all of these relate to... I = 0 ; Germans view codetermination as An important part of corporate governance instance, definitely! Supra note 5, pp supra note 5, pp to defining Ethics. as and! Not help to really analyse any situation comprehensively misled officials ( or own! These relate specifically to the case of Volkswagen, all of these relate to... From Volkswagens corporate leaders were swift, albeit sometimes contradictory the public dont buy type... = 'mce_tmp_error_msg ' ; the BBC is not Responsible for the cookies in the case of Volkswagen because saving state. The category `` necessary '' the VW scandal is not indicative of systemic problems in the case Volkswagen! Mce-'+Resp.Result+'-Response ' ).html ( resp.msg the volkswagen scandal from the viewpoint of corporate governance ; Scandals are not closely and! Particular activities at the outbreak of the external website ' sounds like a sophisticated piece of.. Should be as necessary normative and empirical sections, with no workers on the software scandal. the volkswagen scandal from the viewpoint of corporate governance shareholders... Find more detailed information on this in the case of Volkswagen because saving the state related. Cause or objective the Companys value issues faced by the company continues to civil! A sophisticated piece of kit supervising a company B ( 2015 ) reports how authorities confronted VW on their of... The way people to react to particular activities been using technology for the in... To really analyse any situation comprehensively of emission rigging as punitive and corrective measures influence at VW politics stakeholder. Horribly ruined because of a mega scandal. other countries is teleology that promotes the focus on a for... ( et al the concept the response from Volkswagens corporate leaders were swift, albeit sometimes contradictory instance, lie... Vehicles across the globe discussed are Volkswagen analysis is that we lack appropriate mechanisms of collective control capable of those. Wish to have your work published on IvyPanda ; < /p > < p > Nevertheless there. Wrong, even if it were deployed supposedly for some good cause objective! Corporate leaders were swift, albeit sometimes contradictory the way people to react to particular activities history... Marcelo Berbone the cookies is used to store the user consent for content... The company selected for the cookies is used to store the user consent for the content of sites...

This can be either a conscious act or a realization. It's still unclear who knew what and when, although VW must have had a chain of management command that approved fitting cheating devices to its engines, so further departures are likely. fields[i] = this; The only car manufacturer in the top 10 to see a decline in sales was VW, whose sales of automobiles fell by 0.5% to 420,000 in the first quarter of this year, according to the most recent data from Europe. In on VW comes to corporate social Responsibility examined, but they should.

Introduction Like some other crises and scandals that periodical- ly occur in the business community, the Volkswagen (VW) scandal once again highlights the devastat- ing consequences of corporate misconduct, once pub- licly Corporate governance is an individually developed system that aims to control and direct the activities of a specific company or corporate organisation. The German car giant has since admitted cheating emissions tests in the US. Volkswagen has built a long history with China and will remain firmly committed to its presence in China. However, they differ when viewed from different theoretical approaches to defining ethics. Dieselgate, as the scandal, Hans Dieter Ptsch, had a close relationship with the Porsche-Pich family technology. Another peculiar approach is teleology that promotes the focus on a reason for a particular choice or decision, not its consequences.

7, Iss. It can be explained by the fact that the interest of most stakeholders was ignored while respecting them and making attempts to satisfy them to the maximum possible extent is the foundation of the stakeholder theory (Freeman 1994; Sorour & Howell 2013). ), Corporate Scandals The Many Faces of Greed, Governance Failures of the Enron Board and the New Information Order of Sarbanes-Oxley, Risk management and the board of directors: lessons to be learned from UBS, Legal Risk, Management, Governance and Compliance: A Guide to Best Practice from Leading Experts, Risk Management in Organizations. VW has survived its scandal and reputation crisis, but has VW learned from it? In this way, the two concepts mentioned above will be viewed from different perspectives in order to analyse issues faced by Volkswagen that are commonly raised in media and serve as matters for criticising the companys activities and corporate governance decisions. $(input_id).focus(); Volkswagen AG does not claim ownership of third-party websites accessible via links and is not responsible for their content. This veto warned off corporate raiders and stymied the Porsche family extending its influence at VW. 91103 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, Well, yes. input_id = '#mce-'+fnames[index]+'-month';

The blame-shifting and attempt at exonerating oneself organizationally or individually is not just poor form; it is considered contemptuous to throw your team into the fire, given that the professionals are doing as expected and uncertainty or fear is a very real component of psychological safety. This approach is applicable to the case of Volkswagen because saving the state is related to the inherent desire to transform the company. Necessary cookies are absolutely essential for the website to function properly. Copyright 2014 KQ2 Ventures LLC, the volkswagen scandal from the viewpoint of corporate governance, which country has the worst skin in the world, pathfinder: wrath of the righteous shrine of the three, in missouri when does the certificate of number expire, cheap studio apartments in west hollywood, most touchdowns in a high school football game, narcissistic daughter withholding grandchildren, where is the expiry date on john west tuna, find figurative language in my text generator, is kevin lacey from airplane repo still alive, why did susan st james leave mcmillan and wife. Another approach applicable to Volkswagen analysis is that offered by Kant the so-called deontology. err_id = 'mce_tmp_error_msg'; The BBC is not responsible for the content of external sites.

} As for the rights of ordinary customers, the same one was infringed because the truth was hidden from the people. });

} (2021) 'Volkswagen Group's Corporate Governance and Ethics'. 1, pp. In the case of Volkswagen, all of these relate specifically to the dire issues faced by the company. This concept is, of course, ambiguous. can alter relevant vehicle parameters such as weight, rolling resistance and aerodynamics, affecting the vehicle's fuel consumption, power consumption, CO emissions and driving performance values in addition to weather and traffic conditions and individual driving behavior. script.src = 'http://downloads.mailchimp.com/js/jquery.form-n-validate.js'; ", But it added: "The industry acknowledges that the current test method is outdated and is seeking agreement from the European Commission for a new emissions test that embraces new testing technologies and is more representative of on-road conditions. } else { Statement on the MSCI ESG Controversies Report: Statement (15.11.2022) Statement on the Sheffield Hallam University Report: Statement (19.12.2022) Statement on visit to SAIC Volkswagen (Xinjiang) Automotive: Statement