The Moral Compass of Companies : Business Ethics and Corporate Governance as Anti-Corruption Tools

This publication targets private sector stakeholders who want to reduce a company s risk and vulnerability to corruption. It aims to provide guidance and recommendations for integrating ethics programs into corporate governance mechanisms to safeguard against corruption. Anti-corruption attitudes have changed significantly over the past two decades. Corruption is no longer regarded as a subject to be avoided and is now widely condemned for its damaging effect on countries, industries, governments, and the livelihoods of individual citizens. More importantly, the view of the private sector in the corruption equation is changing. Companies are no longer viewed only as facilitators of corruption - they are increasingly recognized as victims and a valuable source of working solutions, and anti-corruption efforts seen as integral to good corporate governance, Predictable, competitive, and fair economic environments free of corruption are central to sustainable business, economic growth and national development. It has been an easier task to raise this awareness than to reduce the corrosive effects of corruption, especially its worst manifestation of state capture. And though the challenge defies simple solutions, significant progress is being made. Today we have in place numerous international conventions and global collective action initiatives that set higher standards of transparency and accountability in corporate and public governance. More importantly, such standards are buttressed by a growing convergence of ethical values that set the tone for 'doing the right thing' in both the public and private sectors.

Bibliographic Details

Main Author:	Sullivan, John D.
Format:	Working Paper biblioteca
Language:	English en_US
Published:	International Finance Corporation, Washington, DC 2009-02-15
Subjects:	ABUSE, ABUSES, ACCOUNTABILITY, ACCOUNTING, ANTI-BRIBERY, ANTI-CORRUPTION, ANTI-CORRUPTION ACTIONS, ANTICORRUPTION, ANTICORRUPTION STRATEGY, ASSETS, AUDITORS, AUTHORITY, BANKS, BEST PRACTICE, BEST PRACTICES, BIDDING, BOARD MEMBER, BOARD MEMBERS, BOARD RESOLUTION, BOARDS OF DIRECTORS, BPI, BRIBE, BRIBE PAYERS, BRIBE PAYERS INDEX, BRIBERY CONVENTION, BRIBERY OF FOREIGN PUBLIC OFFICIALS, BRIBES, BUSINESS ASSOCIATIONS, BUSINESS CLIMATE, BUSINESS COMMUNITY, BUSINESS ENVIRONMENT, BUSINESS ETHICS, BUSINESS OPERATIONS, BUSINESS ORGANIZATIONS, BUSINESS STRATEGY, BUSINESS TRANSACTIONS, CEOS, CHAMBER OF COMMERCE, CITIZENS, CITIZENSHIP, CIVIL SOCIETY, CO-OPERATIVES, COALITIONS, CODES OF CONDUCT, COLLAPSES, COLLECTIVE, COLLECTIVE ACTION, COMBATING BRIBERY, COMMERCIAL TRANSACTIONS, COMPANY, CONFIDENCE, CONFLICTS OF INTEREST, CONSENSUS, CONTROLLING CORRUPTION, CORPORATE BEHAVIOR, CORPORATE CITIZENSHIP, CORPORATE CODES, CORPORATE COLLAPSES, CORPORATE ETHICS, CORPORATE GOVERNANCE, CORPORATE GOVERNANCE CODES, CORPORATE GOVERNANCE LAW, CORPORATE GOVERNANCE MECHANISMS, CORPORATE GOVERNANCE PRINCIPLES, CORPORATE GOVERNANCE STANDARDS, CORPORATE LAW, CORPORATE OPPORTUNITIES, CORPORATE SCANDALS, CORPORATE SECTOR, CORPORATE SOCIAL RESPONSIBILITY, CORPORATE STAKEHOLDERS, CORPORATION, CORPORATIONS, CORRUPT, CORRUPT PRACTICES, CORRUPTION ACTS, CORRUPTION COSTS, CORRUPTION PERCEPTION, CORRUPTION PERCEPTION INDEX, CORRUPTION PERCEPTIONS, CORRUPTION PERCEPTIONS INDEX, CPI, CRIMINAL, CRIMINAL SANCTIONS, DECISION MAKING, DECISION-MAKING, DEMOCRACIES, DEMOCRACY, DEMOCRATIC DEVELOPMENT, DEMOCRATIC GOVERNANCE, DEMOCRATIC INSTITUTIONS, DISCLOSURE, DISCRETION, DISCRIMINATION, DOMESTIC INVESTORS, DUE CARE, DUE DILIGENCE, ECONOMIC GROWTH, EDUCATIONAL INSTITUTIONS, EMBEZZLEMENT, ETHICAL BEHAVIOR, ETHICAL CODE, ETHICAL STANDARDS, ETHICS, EXTORTION, FEDERAL SENTENCING COMMISSION, FIDUCIARY DUTIES, FIGHT AGAINST CORRUPTION, FIGHTING CORRUPTION, FINANCIAL BENEFITS, FINANCIAL CRISIS, FINANCIAL PERFORMANCE, FOREIGN CORRUPT PRACTICES, FOREIGN CORRUPT PRACTICES ACT, FRAUD, FREEDOM OF INFORMATION, GLOBAL CORPORATE GOVERNANCE, GOOD CORPORATE GOVERNANCE, GOOD GOVERNANCE, GOVERNANCE DIMENSIONS, GOVERNANCE GUIDELINE, GOVERNANCE GUIDELINES, GOVERNANCE SYSTEMS, GOVERNMENT INTERVENTION, GOVERNMENT OFFICIALS, GOVERNMENT REVENUES, HUMAN RIGHTS, IMPROVING GOVERNANCE, INCOME, INDEPENDENT OVERSIGHT, INDIVIDUAL COMPANY, INDIVIDUALS, INFORMAL SECTOR, INITIATIVE, INSIDER TRADING, INSTITUTIONAL CAPACITY, INSTITUTIONAL FRAMEWORK, INSTITUTIONAL INVESTORS, INSTITUTIONALIZED CORRUPTION, INTEGRITY, INTERNATIONAL BUSINESS, INTERNATIONAL BUSINESS TRANSACTIONS, INVESTIGATION, JUDICIARY, JUSTICE, KICKBACKS, LARGE COMPANY, LAWYERS, LEADERSHIP, LEGAL FRAMEWORK, LEGAL REQUIREMENTS, LEGAL SYSTEM, LEGISLATION, LEGITIMACY, LIABILITY, LIMITED, LOBBYING, MANAGERS, MARKET ECONOMIES, MARKET ECONOMY, MEDIA, MINISTER, MONEY LAUNDERING, MULTINATIONAL, NATIONAL DEVELOPMENT, NATIONAL ECONOMY, NATIONAL LAW, NATIONAL LAWS, NATIONS, NONGOVERNMENTAL ORGANIZATIONS, PARTNERSHIP, PER CAPITA INCOME, PERSONAL GAIN, PERSONS, POLITICAL DEVELOPMENT, POOR GOVERNANCE, PRIME MINISTER, PRIVATE ENTERPRISE, PRIVATE GAIN, PRIVATE SECTOR DEVELOPMENT, PRIVATE SECTOR GROWTH, PROCUREMENT, PROCUREMENT LAWS, PROFESSIONAL ETHICS, PROPERTY RIGHTS, PROSECUTION, PROXY, PUBLIC OPINION, REGULATORY FRAMEWORK, REGULATORY REQUIREMENTS, REMEDY, RULE OF LAW, RULES OF CONDUCT, SAFE HAVENS, SANCTIONS, SCANDAL, SCANDALS, SENTENCING GUIDELINES, SHAREHOLDER, SHAREHOLDER VALUE, SHAREHOLDERS, SMALL BUSINESS, SMALL BUSINESSES, SOCIETIES, STAKEHOLDER, STAKEHOLDERS, STOCK EXCHANGE, SUBSIDIARY, SYSTEMIC CORRUPTION, TELEVISION, TRANSITION ECONOMIES, TRANSPARENCY, VESTED INTERESTS, WHISTLE­ BLOWING, WHOLE COMPANY, WORLDWIDE GOVERNANCE INDICATORS, YOUTH,
Online Access:	http://documents.worldbank.org/curated/en/2009/02/10358456/moral-compass-companies-business-ethics-corporate-governance-anti-corruption-tools http://hdl.handle.net/10986/23980
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