Critical Analysis of the Whistleblower Incentives and ProtectionProfessor’s Name Student’s Name Course TitleDate ContentsList of Figures. 5Introduction. 6Background Information. 6Cognate (Finance) 7Problem Statement 7Purpose of the Study. 8Research Questions. 8Relationship of the Research Questions to Problem Statement 9Nature of the Study. 10Methodology. 11Design. 11Fixed, Flexible, and Mixed Method Designs. 12Appropriateness of flexible design in this research?. 12Qualitative research methods. 13Interviews. 14Case study. 14Methods for Triangulation. 14Appropriateness of the Single Case Study. 15Research Framework. 15Research Framework Diagram.. 16Research Framework Concepts. 17Research Framework Theories. 17Maslow’s Motivational Theory. 17Transformational Leadership Theory; 17McClelland’s need theory; 18Research Framework Actors. 18Leaders. 18Followers; 18Accountants; 18Research Framework Variables. 19Leadership style; 19Intrinsic motivation; 19Whistleblower demographic; 19Variables to Include Critical Analysis. 20Related Studies. 20Anticipated and Discovered Themes. 20Summary. 21Definition of Terms. 21Assumptions, Limitations, Delimitations. 22Significance of the Study. 23Reduction of Gaps in the Literature. 24Implications for Biblical Integration. 24Relationship to Cognate. 24Summary. 25Conclusion. 25References: 26List of FiguresFigure 4.1 conceptual framework diagram…………………….………………………….15IntroductionWhistleblower incentives and protection refers to the monetary reward as well as protection which the United States Government offers to the individuals who expose certain wrongdoings in the community more especially in government institutions. The Federal law requires the government to reward the whistleblowers a certain percentage of money that is recovered following their tips of exposing the wrongdoing acts. This percentage may go up to 30 percent of the total recovered money. In this paper, I will critically analyze whether Whistleblower Incentives and Protection are ways of applying investment banking incentives to control management unethical and illegal practices. And maybe are the whistleblowers rewarded accordingly in terms of security and money.Background InformationWhistleblower incentives and protection rights are clearly stated per the federal laws. The main reason for having such laws is to promote transparency and motivate people to shun unethical behavior in various professions. Corruption is the main vice that is targeted by whistleblower incentives and protection. Federal laws require government agencies to provide maximum security to a whistleblower in the process of investigating a vice and even after the culprits have been apprehended. More so, it is required by law that the whistleblower gets a certain amount of the recovered resources. Whistleblower incentives and protection services have promoted the war against corruption, especially in government institutions. However, the same laws and incentives have not been effectively applied in various private sectors, including the banking sector, (Lee & Turner, 2017). Cognate (Finance)Effective incentives and protection services for whistleblowers in various financial institutions are lacking. As a result, corruption is rampant in the general finance sector. The majority of companies lose a lot of resources annually due to unethical practices in their finance departments. For instance, money laundering and tax evasion practices are common among the finance departments of various companies. Incentives and protection services in the finance departments are less effective compared to other departments especially in the private sector, (Gupta & Chaudhary, 2017). Managers and their subordinate staff are less empowered to report unethical practices. The finance sector is very important both to the government and to private corporations. It is essential to formulate effective incentive and protection laws, as well as policies, that apply to the finance departments of any company.Problem StatementAccording to Andon, et al., (2018), Lack of whistleblower incentives and protection makes it difficult for whistleblowers to report wrongdoing, as they feel insecure. This is also supported by Ballan, (2017) who stated that the current whistleblowing system is not effective and therefore does not provide the basis for investigation of corruption cases and any misconduct within a company. Also, according to Keith, Todd & Oliver, (2016) the managers are not empowered to sanction employees involved in unethical behaviors because of lack of whistleblower incentives. A recent study by Keith, Todd & Oliver, (2016) stated that the finance department in any organization is a very critical area that can determine the overall performance of an organization. Failure to provide whistleblower incentives and protection to finance staff makes it difficult for them to report unethical behaviors.Purpose of the StudyThe purpose of this study is to come up with a reliable approach that can be utilized to apply incentives and protection laws in finance departments. This can be achieved by critically analyzing the applicability of the existing incentive and protection laws in the financial sector, specifically in investment banking. This study will attempt to fill the existing knowledge gaps by analyzing the factors that affect the applicability of incentives and protection laws in finance departments. The financial sector is very complex and any change can have a significant effect on the global economy. As such, it is necessary to formulate effective laws that can deter vices such as money laundering and other fraudulent activities within the investment banking sector, (Gupta & Chaudhary, 2017). The analysis will focus on identifying the role of whistleblowers in the investment banking sector. This study hopes to build on the existing information about the incentives and protection laws and their applicability in various sectors. Research QuestionsIt’s important to note that integrity and corruption-free environment can be enhanced if specifically, the involved organizations are audited or watched from another third party which may or may not from within the organization. The third-party in this case is the whistleblower. This critical analysis takes into consideration the general facets of whistleblowing, before analyzing it from within the investment banking sector. More importantly, the main aim of this paper is intended to explore the answers to the following questions; 1. What role do whistleblowers play in curbing unethical behavior? 2. What are the underlying incentives that instigate whistleblowing?3. Why has the finance department failed to provide these incentives and protection for the whistleblowers? How has the finance department failed to provide incentives and protection to the whistleblowers? How does the finance department plan to address this issue?4. What are the effects of legislation that encourage or aim to protect whistleblowers?Should the same legislative incentives operate within the investment-banking sector considering the volatility of stock exchange markets across the world and the impact of psychology on the investment decisions made?Relationship of the Research Questions to Problem StatementResearch Question 1.This will help understand the exact role that whistleblowers play in shaping ethics by reporting any kind of wrongdoing, misconduct and unethical behaviors. The research aims to address the problem of whistleblowers not being given enough incentives and protection. To understand this problem, it is necessary to understand what role these whistleblowers play in a company and why it is very important. Research Question 2.This question will enable the researcher to understand the kind of incentives and protection that instigate whistleblowers. Protection could be in the form of financial benefits or legal protection.Research Question 3.This question will enable the researcher to dig deep into the possible causes of failure by the finance department to provide these incentives and protection. This will enable the researcher to understand to whom the finance department reports and thus understand whether the problem is within the finance department or those to whom the department is answerable. This will enable the researcher to understand exactly how the finance department has failed the whistleblowers. It will also shed more light on the exact grievances of the whistleblowers. This will explain the failure on the part of the finance department in this research. Also, it will look at the approach the finance department aims at using to address this problem. Also, the researcher will know if the finance department plans to offer a solution to this issue and how. This research question addresses the failure of the finance department to provide incentives and protection to the whistleblowers. It also aims at providing a solution to the problem.Research Question 4.This question aims to enable the researcher to give information concerning whistleblowing in both public and private institutions, with a special concentration on investment banking. Also, the history of whistleblowing, the laws governing it, its benefits to the organization including both its theoretical and conceptual framework. From the research, the reader would be able to know about whistleblowing in corporations including the whistle blower’s incentives and protection.Nature of the StudyThis study aims at analyzing the factors that affect the implementation of incentives and protection laws in finance departments. More so, the study will conclude by providing recommendations about how various companies can effectively apply incentives and protection laws in their finance departments to curb vices such as corruption. As such, it is necessary to adopt an approach that does not only promotes the research process but can also accommodate unforeseen changes that may arise in the process, (Gaus, 2017). Therefore, a qualitative approach to research will be used for this study. Qualitative data will be collected through interviews. All stakeholders in the finance department will be engaged in the interviews to ensure that the study captures all the necessary information. The research will adopt the most appropriate approach to ensure that the research questions are answered in the findings. This study will adopt a flexible approach that can accommodate findings that are not anticipated or captured in the research questions. MethodologyThis research study will be conducted with a flexible design using qualitative methods specifically; a single case study design will be used. This will be the best approach for this research since the research addresses why whistleblowers are not given adequate incentives and protection. This study does not only aim at identifying the reasons for not providing these incentives and protection. As part of the recommendations, the researcher hopes to come up with a solution drawn from the findings of the research. The solution should be that of a relief to whistleblowers. The findings of this research may, however, change the course of this research and that is why a flexible research design will be used (Walliman, 2017).DesignThe purpose of the research design is usually to assist the researcher use the findings of the study to address the problem stated in their research and the best way possible. It is, therefore, necessary that the researcher think critically about the information they want to get from the research and how they will use it to solve the problem. Failure to this, the findings of the research will be weak and will not be convincing enough (Gaus, 2017).Fixed, Flexible, and Mixed Method DesignsFixed research design is mainly used when conducting quantitative research. The research can either be experimental, quasi, or semi-experimental. Statistical analysis methods such as correlation analysis and regression models are used to interpret the relationship between variables in fixed research designs. On the other hand, flexible research design is commonly used in qualitative research while mixed research design includes some aspects of both fixed and flexible research. A mixed method approach is best applicability in a case where the researcher hopes to obtain more accurate results that are verifiable. Appropriateness of flexible design in this research?A flexible design is a research design, which allows the researcher to get feedback from his research. This feedback may end up changing the course of the experiment. This research design allows the researcher to analyze their target more closely thus saving on time and resources. This means that the researcher gets answers sooner than when using other designs. However, this design allows the possibility of bias in selection. The main aim of this research is to address the problem of whistleblowers not being given enough incentives and protection. It will also address the failure of the finance department to provide whistleblowers with necessary incentives and protection. At the end of this research, the researcher should be able to give recommendations that will involve a solution to the problem. If the researcher cannot offer a solution to this problem, they would have failed in their research (Gaus, 2017).Qualitative research methodsQualitative research methods are those methods that are used to collect non-numeric data. This data is used to interpret the meaning of a concept and understand the concept better. Through studying a given population, this research method uses non-numeric data to determine the relationship of cause between the parties involved. Qualitative research methods help the researcher to obtain answers as to why a certain problem exists. The problem of whistleblowers not being given incentives and protection could involve several parties. The problem could be with the government, that is, the policymakers who dictate how companies work. Alternatively, the problem could be with the finance department as stated in the research problem. The whole management of the company could be the issue or the whistleblowers themselves. Maybe they are demanding more than the companies can offer (Gaus, 2017).This research is, therefore, requires that non-numeric data be collected from all the parties involved. The researcher has to look at the role of each party involved. This way they will be able to determine the cause of the problem. See if whistleblowers are important in a company if a company can manage without them. Also, look at all the possible causes of the failure to pay the incentives to know where the problem lies. The researcher should be able to approach the problem from all possible angles to come up with accurate findings. Several research methods can be applied to qualitative research. They may include the methods and tools that will be used in the research. These methods influence the results of the research and once again, the researcher should be careful when selecting the methods to use in their study. In this research, interviewing will be a convenient method since the research will be carried out in one selected company and not many people will be involved (Walliman, 2017).InterviewsTo ensure that reliable information is gathered from the financial department, an interview will be scheduled with the head of the finance department in the case study company. The company’s policymakers will also be interviewed to this effect. This is because there are not many people involved here. Interviews will enable the researcher to probe further in case the information given is not satisfactory.Case studyThis is a research method that involves a deep investigation of a single person or group selected for certain research. It could be either descriptive or explanatory. This research aims at analyzing the failure of the finance department to provide incentives and protection for whistleblowers. This could, therefore, be best described as an explanatory case study since it aims at answering the question ‘why?’ This research will be carried out in a selected company; the researcher will conduct a deep study on the problem stated. The researcher will collect data on the failure of the finance department in providing incentives and protection for whistleblowers in the selected company. Methods for TriangulationAny research that adopts more than one approach requires an appropriate triangulation method. Triangulation involves harmonizing the findings obtained from several sources that were analyzed using different research methods, (Walliman, 2017). This study will mainly be qualitative thus numerous triangulation methods are not necessary. However, the research findings and conclusions will be based on interviews and observations from the selected company. This means that more than one set of data will be available for analysis in the research. The first analysis will be conducted on the exiting theoretical information that is available for review. A second analysis will be conducted to deduce crucial information from the interviews and the specific case study. Therefore, this study will adopt interpretivism and critical theory methods as the most appropriate triangulation methods. The two methods will effectively enable the researcher to triangulate the findings from different sources to come up with a reasonable conclusion as well as appropriate recommendations. Appropriateness of the Single Case StudyEverything that pertains to the requirements of this research will be collected from one company selected by the researcher for this study (Ridder, 2017). Using one company for the research will enable the researcher to conduct comprehensive research on the matter without having to move from one company to the other. This will also ensure that the sample selected for this research is not too large. Thus, the researcher will be able to save on time and resources.Research FrameworkTo arrive at the most effective solution regarding the offering of incentives as well as protection to the whistleblowers and how it will enhance the eradication of wrongdoing in the investment banking institutions, a step by step analysis of the most appropriate strategies must be visualized in form of a schematic research framework. This research framework vividly illustrates the structure of the research plan besides helping the researcher in formulating the relevant research question which is in line with our research statement above. All the research concepts, as well as the assumed correlations between these concepts, are illustrated in the research framework. Research Framework DiagramFrom the diagram below, it’s clear that the solution regarding the incentives and protection of the whistleblowers starts by looking at the various theories to which will contribute to their motivation. From the theories then various variables are considered before looking at the various concepts and how they relate. Finally, the actors where the whistleblowers are ends the cycle of incentives and protection of the whistleblowers via their satisfaction.Figure 4.1 conceptual framework diagramResearch Framework ConceptsWhistleblower; this is an individual who exposes the activities that are deemed not correct, unethical in both private and public sectors. They may feel insecure or harassed by the superiors since they don’t trust their operations (Andon et al., 2018).Moral responsibility; refers to the status of morally deserving punishment, blame, praise or reward for omissions or acts neglected or performed per the moral obligation of an individual. The whistleblowers are moral agents and they face different problems that account for the moral obligation (Ballan, 2017).External Whistleblowing; entails the reporting of unethical actions to outside law enforcement individuals like the police. Any wrong action within the organization is reported by the whistleblowers. It’s important to note that, the Whistle-Blowers Protection Act, 2011 was developed to protect whistleblowers from being victimized (Keith, Todd & Oliver, 2016).Research Framework TheoriesMaslow’s Motivational Theory; this theory indicates that Motivation is a result of an attempt by an individual to fulfill the five main basic needs (Acevedo, 2018). This need can create pressure that can influence the behavior of a person like the provision of psychological, social, esteem as well as safety needsTransformational Leadership Theory; this theory focuses on how leaders can create positive and valuable change among their followers or those that they lead. It also focuses on increasing compliance by giving benefits and rewards (Banks et al., 2016).McClelland’s need theory; this theory acknowledges the fact that needs are acquired or learned depending on the events people go through in their culture and environment. Individuals behave differently depending on their needs. For instance, the need for achievement involves strive to succeed and the drive to excess based on set standards (Jaquays & Thompson, 2018). The need for power focuses on the desire to make an impact on people’s lives, the urge to influence others and the desire to change the way people perceive things. While the need for affiliation involves the urge to develop strong relationships with people and maintain them. Research Framework ActorsLeaders; leaders can play an important role in shaping the behaviors of their followers towards whistleblowing. They must exhibit legitimate management behavior and moral conduct within an organization. Therefore, leaders can encourage whistleblowing in an organization by acting as role models. The leaders must also have good interpersonal skills between their followers. The whistleblowers are also considered good ambassadors by the leaders of their businesses. Followers; followers are expected to whistleblow whenever there is misconduct or unethical behavior in an organization. They also ensure that there is maximum compliance with organization policies. By them whistleblowing, they prevent catastrophic incidents in the organizations. They can also play a significant role in saving money for an organization and preventing disaster. Accountants; their role is to ensure there is complete compliance to finance and accounting policies within an organization. They also act as whistleblowers and report any misconduct within their department, hence helping an organization to combat any illegal operations by uncovering corruption cases.Research Framework VariablesLeadership style; transformational leadership is style is very effective in providing protection and incentives for whistleblowers. The transformational leaders exhibit idealized influence, intellectual stimulation, individualized consideration and inspirational motivation (Banks et al., 2016). Such leaders are risk-takers, critical thinkers, daring, inspiring and visionary as they collaborate as well as support their followers in performing their daily activities. Intrinsic motivation; one of the main reasons why whistleblowers engage in whistleblowing is that they possess an intrinsic sense of integrity and justice. According to Lee & Turner (2017), Whistleblowers brave the moist frightening situations when their reputation, security, and careers are put on the line and they seek to hold people who have been involved in unethical practices accountable for their actions. Whistleblower demographic; this refers to organizational tenure, age, and gender that can influence whistleblowing within an organization. Many researches indicate that women are more ethical in behavior and judgment as compared to men. Either senior employees are also more committed and have higher levels of organizational power as new employees do not understand the culture of the organization and may, therefore, be less concerned in whistleblowing (Gupta & Chaudhary, 2017). Variables to Include Critical AnalysisA variable refers to a specific factor that is being observed for changes in the variable itself or its influence on a different factor in research. Some of the variables to be considered in the critical analysis of this study include the financial value of the incentives offered to whistleblowers as well as the type of protection services extended. The study hopes to identify the financial value of an incentive that is more captivating for whistleblowers. The critical analyses will also involve an evaluation of the identified value compared to the financial resources being recovered from corruption or fraud in various finance departments. Related StudiesSome research has been conducted in the past on the applicability and effectiveness of government-provided incentives. A study conducted by Lee & Turner, (2017). Analyzes the effect of government-administered rewards whistleblowing in various companies. Federal laws on incentives and protection for whistleblowers have not effectively promoted whistleblowing in private corporations. In another research conducted by Andon et.al. (2018) it was discovered that employees have varied perceptions about whistleblowing and the incentives offered to promote whistleblowing. The majority of employees in various companies are concerned about the kind of reward they receive and whether it is worth taking a risk. As such, it is necessary to revisit the incentives policies to ensure that the rewards promised to whistleblowers are relevant to them. Anticipated and Discovered ThemesSome of the themes that are anticipated in the study include ethical leadership, mutual trust, and social welfare. Ethical leadership manifests through the kind of action taken by leaders to support whistleblowing in their organizations. Mutual trust must be developed among all stakeholders in the finance sector to ensure that whistleblowers understand its relevance from a common perspective. Finally, the main goal of encouraging whistleblowing is to safeguard and promote social justice and social welfare in society. SummaryIn summary, the process of incentives and protection of the whistleblowers entails the interrelationship of the various theories which regards the motivation of the workers who are specifically the whistleblowers in this case. It’s from the theories that the various variables, concepts as well as actors do interact with each other to achieve the best conditions for the whistleblowers. An environment that encourages whistleblowing can best be created by implementing laws that are considerate of all factors and stakeholders involved. Definition of TermsSome of the key terms that may be affected by ambiguity in this study include;Whistleblower; Refers to the person who raises concerns about an unethical practice in the finance department. Whistleblowers serve as primary sources of information about a certain issue that would otherwise go unnoticed. Incentive; An incentive is a form a reward, mostly monetary, promised to any person who takes an initiative to perform a specified task. In this study, an incentive refers to the monetary reward promised to whistleblowers who report fraudulent activities and corruption.Protection; Protection refers to extra security services offered as a reward and surety to whistleblowers as a reward for their bold actions of reporting unethical practices. Variable; The term variable in this study has been used to refer to motivation, leadership style and the demographic factors of the whistleblowers. These variables are the specific aspects that will be analyzed to identify how a change in each affects the implementation of incentives and protection laws in finance departments. Framework; The term framework in the context of this study has been used to refer to the theoretical map that portrays the relationship between theories, variables, concepts, and actors analyzed in the research process.Demographic; Demographic factors include the age and gender of the whistleblowers in the context of this study. Such factors can affect the reception of different rewards offered as incentives. Assumptions, Limitations, DelimitationsThis study is not without several assumptions; some of the assumptions made include;1. The interviewees engaged in the study provided accurate information that is not affected by personal bias. The information captured from the interviews, therefore, is accurate and reliable for the study. 2. The specific company that is used for the case study has organizational structure that is common for all companies. As such, the findings and conclusion made from the case study would be similar even when a different company is used for the case study.3. The study is based on the assumption that the sample size selected is neither small nor large for the research process. It is assumed that the sample size is a true representation of the general population; finance departments in various companies. This study is also affected by several limitations and delimitations. Some of the limitations and delimitations encountered include; 1. Insufficient financial resources limited to this study. The research was conducted based on a case study of one company and a few interviewees to avoid incurring high costs. As such, lack of enough finances limited the scope of the study.2. The study was delimited to only finance departments of companies based in highly-populated cities. This delimitation limited the study to a particular set of demographic factors and excluded some that are not found in the cities. 3. Some level of bias arising from the flexible study approach may limit the accuracy of the findings and conclusions made in this study.Significance of the StudyThe study will be very useful to policymakers as well as individual employees, especially finance professionals in various companies. The existing laws on incentives and protection for whistleblowers are not effective in the finance departments. Most of the studies that have been conducted in the past have not comprehensively captured the aspect of implementing incentives and protection laws in the finance sector. This study provides an in-depth analysis of the factors that affect the effectiveness of the laws in various companies. Also, the study will be useful to finance employees as well as leaders who seek to promote whistleblowing in their companies. Reduction of Gaps in the LiteratureThis study will effectively reduce the knowledge gaps that are currently affecting the formulation and implementation of relevant incentives and protection policies and laws. Currently, there are no laws formulated to be exclusively implemented in the finance sector. This study will shed some light and recommend an action that should be taken to fill the existing gaps in literature. Many companies lack incentives and protection policies for whistleblowers because they do not understand the relevance. Implications for Biblical IntegrationThe Bike is used by Christians to teach good morals and doing what is right. Corruption and fraud are vices that even the bible rebukes and calls upon Christians to act as whistleblowers. According to Leviticus 19:17, “Do not hate your brother in your heart. Rebuke your neighbor frankly so that you will not share in his guilt,” This biblical phrase supports whistleblowing to eliminate the guilt that arises from a failure to take action. This study builds more on this analogy to inform the general public, corporate leaders, as well as the government on the need to implement incentives and protection laws across all sectors.Relationship to CognateFraud and corruption activities are common in the finance departments in various companies. Various measures that have been implemented in the past have had little or no effect on these vices leading to massive losses of financial resources. As such, it is important to consider a different approach that motivates the perpetrators to behave differently. Offering incentives and protection to whistleblowers can attract even the corrupt and fraudulent employees. This means that a small portion of the financial resources that would be lost is used to ensure the finance professionals operate ethically. SummaryIn summary, it is essential to identify the key terms, limitations and delimitations, biblical integration and significance of the study to the general public as well as key stake holders in the finance sector. This study highlights the various ways in which relevant policies and laws can be implemented to promoted whistleblowing in various companies, especially in the finance departments. Whistleblowing is not only justified in the bible but it must also be justified by its goal to promote social welfare and justice in society. ConclusionIn conclusion, the work of the whistleblowers is very fatal in the fight against corruption as well as grabbing the public resources in all the private and public sectors. However, for the whistleblowers to effectively do their work, they must be rewarded accordingly in comparison with the work they do. They endanger their life to expose fatal information concerning wrongdoings which requires a good motivation strategy to them. 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