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Corporate Social Responsibility of Multinational Corporations in Developing Countries

Corporate Social Responsibility of Multinational Corporations in Developing Countries Perspectives on Anti-Corruption

Author: Adefolake O. Adeyeye
Publisher: Cambridge University Press
ISBN: 9781107013629
Published In: May 2012
Format: Hardback , 246 pages
Jurisdiction: International ? Disclaimer:
Countri(es) stated herein are used as reference only

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The increasing importance of CSR means that companies must consider multi-stakeholder interests as well as the social, political, economic, environmental and developmental impact of their actions. However, the pursuit of profits by multinational corporations has led to a series of questionable corporate actions and the consequences of such practices are particularly evident in developing countries. Adefolake Adeyeye explores how CSR has evolved to aid the anti-corruption campaign. By examining voluntary rules applicable for curbing corruption, particularly bribery and analysing the domestic and extra-territorial laws of Nigeria, United Kingdom and the United States for holding corporations liable for bribery, she assesses the adequacy of international law's approach towards corporate liability for bribery and explores direct corporate responsibility for international corruption. The roles of corporate governance, global governance and civil liability in curbing corporate corrupt practices are given special focus.

• Fresh perspective on avenues for eliminating corruption, especially in developing countries, will appeal to those interested in exploring alternatives to anti-corruption campaigns which focus on governments and governmental mechanisms

• Offers insights into how corporate governance, global governance and international law impact CSR and international corruption

• Makes clear how binding and non-binding rules can curb international corruption

Preface	ix
Table of international agreements, charters, conventions, declarations and treaties	xi
Table of statutes and ordinances	xii
Table of cases	xiii
List of acronyms and abbreviations	xvi
Introduction	1
Part I Corporate social responsibility and anti-corruption	5
1 Corporate social responsibility	7
Definition and scope of CSR	7
Do corporations have broad responsibilities?	8
Is CSR beyond rules or subject to voluntary or mandatory rules?	11
Are universal standards of CSR evolving?	12
Global changes to CSR	15
Legal awareness of the need for CSR	15
The ‘spotlight effect’	22
Legal action	25
Corporate awareness of the importance of CSR	34
Conclusion	39
2 Anti-corruption as a CSR standard	41
What is corruption?	42
Multinational corporations and international corruption	44
Selected voluntary rules and impacts	49
Transparency International’s Business Principles for Countering Bribery (TI Business Principles)	49
World Economic Forum Partnering against Corruption Principles for Countering Bribery (PACI Principles)	51
International Chamber of Commerce Rules of Conduct and Recommendations for Combating Extortion and Bribery (ICC Rules)	54
Selected mandatory rules and impacts	56
United Kingdom	57
United States	63
Nigeria	66
Usefulness of extraterritorial laws for curbing international corruption	70
Conclusion	73
Part II Special focus on mechanisms for curbing international corruption from a CSR perspective	75
3 Global governance	77
What is global governance?	78
Global governance and corruption	79
Reform and strengthening of institutions for curbing corruption	79
Co-ordination of anti-corruption collaborative efforts	85
Regulation and control of global governance through the use of global administrative law	92
Classification of global governance	93
Multiplicity of actors	94
Global governance challenges	95
Impact of global governance on developing countries	97
Conclusion	102
4 International law	104
Curbing international corruption	105
Regional laws	107
The Organization of American States Inter-American Convention against Corruption (Inter-American Convention)	107
Council of Europe Criminal Law Convention on Corruption	110
African Union Convention on Preventing and Combating Corruption (AU Convention)	113
Multiregional laws	115
The Organization for Economic Co-operation and Development Convention on Combating Bribery of Foreign Public Officials in International Business Transactions (OECD Anti-Bribery Convention)	115
The UN Convention against Corruption (UNCAC)	126
Direct corporate responsibility under international law	128
Model of international corporate responsibility	133
Unintended consequences of international corporate responsibility	139
Conclusion	145
5 Civil remedies	147
Corruption and the enforceabilty of international contracts	148
Enforcement of foreign arbitral awards tainted with bribery	148
International commercial arbitration and the validity of international contracts tainted with bribery	153
Private rights of action for damages by victims of corruption	162
Private actions against corrupt competitors in international commerce	163
Conclusion	166
6 Corporate governance	168
What is corporate governance?	169
Corporate governance and corruption	171
International corruption and the use of shareholder derivative suits	174
Derivative suits in the US	175
Derivative suits in the UK	186
Role of institutional investors in curbing international corruption	189
Effect of Ruggie’s framework	192
Conclusion	193
7 Implications of selected anti-corruption mechanisms in the context of developing countries and CSR	194
The relevance of CSR for anti-corruption campaigns in developing countries	195
The need for a multipronged approach	196
Conclusion	197
Bibliography	198
Index	217