Mitigating bribery risks to strengthen the corporate social responsibility in accordance with the ISO 37001

Lenka Veselovská, Ján Závadský and Zuzana Závadská

Corporate Social Responsibility and Environmental Management, 2020, vol. 27, issue 4, 1972-1988

Abstract: The main aim of this research is to develop an innovative Bribery Risk Index (BRI) to measure organization's level of bribery risk in accordance with the ISO 37001 to strengthen the corporate social responsibility and to verify it under the conditions of selected enterprises. The value of this paper is mainly in providing a possible tool to handle the problem of bribery that has not been successfully solved. The ISO 37001 provides general areas where bribery risks could originate in organization, but it does not provide a specific list of risk factors. It is up to companies to create such risk factors, and this paper provides a possible solution to this challenge by creating a complex list of bribery risk factors and incorporating them into one indicator—the BRI. As such, the proposed BRI is an original approach to assessing an organization's level of bribery risk. The results were achieved through four case studies. The first step was risk management application for bribery risk analysis according to ISO 37001. Findings were used to create a list of criteria with specific importance and consequently the creation of a BRI. The proposed index can also serve to compare organizations' levels of bribery risk regardless of their size and serve in bribery prevention because it identifies the areas in the enterprise where the risk of bribery can be significant and can affect the ability of the organization to perform its functions for its stakeholders.

Date: 2020
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https://doi.org/10.1002/csr.1909

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Persistent link: https://EconPapers.repec.org/RePEc:wly:corsem:v:27:y:2020:i:4:p:1972-1988

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