The Role of Multinational Companies in Corrupt Practices: The Case of Nigeria.
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Date
2011
Authors
Otusanya, J.O
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Abstract
A number of studies and reports have associated corruption with the misuse of public office
for private financial gain, but these studies have rarely examined in detail a major vehicle for
bribery and corruption. This paper argues that some corporations are willing to increase their
profits through indulging in bribery, corruption and money-laundering, which has a tendency
to degrade the governing system in the developing country. The paper locates the role of
MNCs within the broader dynamics of global capitalism to argue that the continued drive for
higher profits and competitive advantages at almost any cost is not constrained by rules, laws
and even regulatory action. The paper uses publicly available data to show that MNCs are the
engines of corrupt practices in Nigeria. Evidence is provided to show that in pursuit of higher
profits, MNCs have designed novel schemes to circumvent laws and regulations. The paper
seeks to explore and demonstrate the intensification of the role of MNCs in anti-social
practices in a developing country, even though this role is in contradiction of the claims of
MNCs to be socially responsible and accountable.
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Keywords
Bribery , Multinational companies , Capitalism , Financial corruption
Citation
Otusanya, O.J (2011), The Role of Multinational Companies in Corrupt Practices: The Case of Nigeria. International Journal of Critical Accounting, vol.3 (2-3)