How to Discover and Avoid Corruption in Companies

Caspar Hauenschild
Additional contact information
Caspar Hauenschild: St.Gobain Isover G+H AG

A chapter in Corporate Ethics and Corporate Governance, 2007, pp 149-156 from Springer

Abstract: Abstract It all started in the late 90s. Allegations of corruption led to the resignation of the team of EU-Commissioners under Jacques Delors. The International Olympic Committee (IOC) had to investigate corruption inside their prominent delegates. Presidents of a significant number of countries — from the Philippines to Kenya — were forced out of office because of charges of bribery and corruption. Even the crash of the total economies in Asia and Russia in 1998 was to some extent related to the tradition of nepotism and the culture of bribery and corruption. In 2002 also the crash of Argentina — 45 years ago among the top 5 richest countries of the world — was argued as being the result of a culture of bribery and corruption — widely spread in the upper and medium class. All this caused poverty and destruction of still rather weak social welfare systems. The middle class was completely wiped out and the wealthier people moved more funds to offshore-financial-centers or even completely left their ailing home countries. The collapse of Enron, WorldCom and Parmalat was also attributed to corrupt business practices and caused heavy losses for shareholders and thousands of pensioners. Last but not least thousands of people lost their jobs.

Keywords: Business Ethic; Corporate Culture; International Olympic Committee; Soccer Match; Risk Management System (search for similar items in EconPapers)
Date: 2007
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-540-70818-6_12

Ordering information: This item can be ordered from
http://www.springer.com/9783540708186

DOI: 10.1007/978-3-540-70818-6_12

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().