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How to Discover and Avoid Corruption in Companies

In: Corporate Ethics and Corporate Governance

Author

Listed:
  • Caspar Hauenschild

    (St.Gobain Isover G+H AG)

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.

Suggested Citation

  • Caspar Hauenschild, 2007. "How to Discover and Avoid Corruption in Companies," Springer Books, in: Walther Ch Zimmerli & Markus Holzinger & Klaus Richter (ed.), Corporate Ethics and Corporate Governance, pages 149-156, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-70818-6_12
    DOI: 10.1007/978-3-540-70818-6_12
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