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Corporate Governance and Corruption: Ethical Dilemmas of Asian Business Groups

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  • Marie Rama

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Abstract

This study looks at how the corporate governance of family-owned business groups, the most dominant form of private sector organising in Asia, deals with different forms of corruption during the course of common business transactions. As a part of an ethnographic study conducted in 2007 to look at the impact of corporate governance reforms in the Philippines, one of the emergent themes from the study was the presence of significant corruption in the business environment of the country. A total of 40 semi-structured interviews were conducted with board members from business groups and senior public sector officials supplemented by document analysis of media articles and other text and participant observation. Using Rose-Ackerman’s typology of petty and grand corruption, results show the dilemmas faced when trying to operate within the precepts of corporate governance whilst dealing with the practical reality of corruption in public sector institutions. The results of the study provide empirical evidence into corruption’s impact on Asian business groups and contribute to knowledge on the links between strong institutions and the efficacy of corporate governance. Copyright Springer Science+Business Media B.V. 2012

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File URL: http://hdl.handle.net/10.1007/s10551-011-1142-0
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Bibliographic Info

Article provided by Springer in its journal Journal of Business Ethics.

Volume (Year): 109 (2012)
Issue (Month): 4 (September)
Pages: 501-519

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Handle: RePEc:kap:jbuset:v:109:y:2012:i:4:p:501-519

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Web page: http://www.springerlink.com/link.asp?id=100281

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Keywords: Corporate governance; Business groups; Corruption; Dictatorship; Post-Dictatorship; Institutions; Philippines; Rose-Ackerman;

References

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  1. Xiaohui Xin & Thomas K. Rudel, 2004. "The Context for Political Corruption: A Cross-National Analysis," Social Science Quarterly, Southwestern Social Science Association, vol. 85(2), pages 294-309.
  2. Indermit Gill & Homi Kharas, 2007. "An East Asian Renaissance : Ideas for Economic Growth," World Bank Publications, The World Bank, number 6798, July.
  3. Sato, Yuri, 1993. "The Salim Group in Indonesia: the development and behavior of the largest conglomerate in Southeast Asia," The Developing Economies, Institute of Developing Economies, Japan External Trade Organization(JETRO), vol. 31(4), pages 408-441, December.
  4. Marleen Dieleman & Wladimir M. Sachs, 2008. "Coevolution of Institutions and Corporations in Emerging Economies: How the Salim Group Morphed into an Institution of Suharto's Crony Regime," Journal of Management Studies, Wiley Blackwell, vol. 45(7), pages 1274-1300, November.
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  7. Michael N. Young & Mike W. Peng & David Ahlstrom & Garry D. Bruton & Yi Jiang, 2008. "Corporate Governance in Emerging Economies: A Review of the Principal-Principal Perspective," Journal of Management Studies, Wiley Blackwell, vol. 45(1), pages 196-220, 01.
  8. Mara Faccio, 2006. "Politically Connected Firms," American Economic Review, American Economic Association, vol. 96(1), pages 369-386, March.
  9. Fisman, Raymond & Khanna, Tarun, 2004. "Facilitating Development: The Role of Business Groups," World Development, Elsevier, vol. 32(4), pages 609-628, April.
  10. Seraphim Voliotis, 2011. "Abuse of Ministerial Authority, Systemic Perjury, and Obstruction of Justice: Corruption in the Shadows of Organizational Practice," Journal of Business Ethics, Springer, vol. 102(4), pages 537-562, September.
  11. Marcouiller, Douglas & Young, Leslie, 1995. "The Black Hole of Graft: The Predatory State and the Informal Economy," American Economic Review, American Economic Association, vol. 85(3), pages 630-46, June.
  12. Tarun Khanna & Yishay Yafeh, 2007. "Business Groups in Emerging Markets: Paragons or Parasites?," Journal of Economic Literature, American Economic Association, vol. 45(2), pages 331-372, June.
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Cited by:
  1. Edmund Byrne, 2014. "Towards Enforceable Bans on Illicit Businesses: From Moral Relativism to Human Rights," Journal of Business Ethics, Springer, vol. 119(1), pages 119-130, January.

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