Anti-corruption: Transparency in private sector Corporate Governance - Essay Example

Only on StudentShare

Extract of sample
Anti-corruption: Transparency in private sector Corporate Governance

Finally, the paper concludes stating the concepts and benefits of Transparency in Corporate Governance in tackling and abolishing corruption from the corporate scenario.
One of the worst issue the current world faces is "corruption". This causes obstacles to the overall development of a country as well as it creates a negative impact on the weak communities which hampers the society at large. Thus there emerged a need to fight away this evil of corruption and "Anti-corruption" policies, strategies and practices evolved. (The Global Impact) Traditional ways of beating up corruption was through reforming public administration and public finance management. But as time passed by and with the emergence of technologies and businesses, corruption too expanded its evil effects which even included the internal political system to relationship among core state institutions, interaction between the states and firms, and even the relationship between the state and civil society. This paper aims at the Anti-corruption activities done within competitive private sector.
The impact of corruption in private sector hampers economic growth, disturbs competition and causes serious legal and goodwill damages. It could also be very expensive as far as a multinational business is concerned. The World Bank has stated that "bribery has become a $1 trillion industry." (The Global Impact)
Different entities such as, Org ...
Download paper


The paper aims at focusing on the Private Sector Corporate Governance and its Transparency which acts as a sword against corruption. The study takes into account the concept of anti-corruption, explains the same and proceeds with the impact of corruption and anti-corruption steps taken in the private sector…
Author : dinozieme

Related Essays

World Bank Anti-Corruption
Across several studies it has been shown that one standard deviation above the mean of corruption lowers investment rates by approximately three points, and lowers the average growth by almost one point per year (Kaufmann & Vicente, 2005). The World Bank (WB) seeks to monitor corruption across aided projects and developing nations (WB, 2006 a, b). To enable this to occur, the WB employs a multi-disciplinary staff with almost half of its employees located in country offices, who actively contribute to international policy formation (WB, 2006b).
4 pages (1004 words) Essay
Corporate Corruption: Causes and Reactions
Executives are charged with criminal offenses, politicians rush to propose new legislation, and the country tends to forget the root causes of corruption, and the public policies that make such corruption possible, until new cases inevitably emerge.
7 pages (1757 words) Essay
Corporate governance .
They endorse organization plan, come up with directional policy, appoint supervise and pay senior executives they sure transparency of the firm to its authorities and owners. (McCahery, Moreland, Reinboag, Raaijmakers. 2002, 2)
12 pages (3012 words) Essay
It would not be possible to create a global corporate governance code
Over the several years ago, the major issue in corporate governance is a convergence' that has attracting many scholars and commentators in business field. The main reasons behind this approach are; the trend of globalization across the world and financial scandals that happened in many countries globally1.
20 pages (5020 words) Essay
The corruption and greed that came with power of absolute control through economy also played it pivotal role in the gradual deterioration.
81 pages (20331 words) Research Proposal
The Transparency in Corporate Governance
Shareholders and investors are being defrauded and deceived on the real status of earning and expenses within the firm through financial statements that are not entirely accurate. Such failures of corporate governance have produced a negative impact on investor confidence and made them question the integrity of information that is provided in the financial statements of a corporate entity.1 The development of corporate governance codes has as its primary objective, the restoration and increase of investor confidence through increased accountability and transparency in corporations2. Effective...
40 pages (10040 words) Essay
Critically examine the problem of corruption in the practice of mediation and arbitration of international disputes
ower and “are vulnerable to abuse for private gain” with detrimental consequences for “stakeholders and society more broadly”.4While corruption is most often associated with bribery, corruption can occur by other means such as fraud, procurement of a specific outcome, conflicts of interests, improper enrichment and other dishonest mechanisms.5
6 pages (1506 words) Essay
Got a tricky question? Receive an answer from students like you! Try us!