Firms, Corruption and Other Forms of Undesirable Behaviour

Evgenii Kruk, B.Sc.

Master's thesis

Abstract:

Free market allows society to choose different opportunities of creating value and generating revenues in many different ways. No matter in what field a person is a professional – he or she has to act according to high ethical and professional standards in order to stay on line with prosperous society, economics, and environment. But some entities, businesses, and institutions fail when facing ethical dilemmas and use their power and assets for creating fake values, mis-auditing, reporting false numbers, making fraudulent investments and behave themselves in other destructive and misleading ways. This research has been comprehensively conducted to reach following goals: to define corruption and corrupted behaviour in corporate terms, to define reasons and motives of unethical conduct, to demonstrate examples of corrupted way of business dealing in financial industry, to introduce methods and procedures that might be useful in fighting and preventing unethical and unprofessional behaviour. On the other hand thesis demonstrates two examples of responsible way of business conduct and successful implementation of anti-corruption strategies. Its aim and core value is about combating with bribery, corrupted decision-making processes and unethical behaviour. Companies’ anti-corruption strategy are related to business ethics, anti-bribery and corruption, preventing tax evasion, data protection, whistleblowing, bullying and harassment, fair treating of customers. All of those areas are introduced in order to demonstrate example of bright corporate environment with more opportunities for creating value for everybody.

Abstract:

Free market allows society to choose different opportunities of creating value and generating revenues in many different ways. No matter in what field a person is a professional – he or she has to act according to high ethical and professional standards in order to stay on line with prosperous society, economics, and environment. But some entities, businesses, and institutions fail when facing ethical dilemmas and use their power and assets for creating fake values, mis-auditing, reporting false numbers, making fraudulent investments and behave themselves in other destructive and misleading ways. This research has been comprehensively conducted to reach following goals: to define corruption and corrupted behaviour in corporate terms, to define reasons and motives of unethical conduct, to demonstrate examples of corrupted way of business dealing in financial industry, to introduce methods and procedures that might be useful in fighting and preventing unethical and unprofessional behaviour. On the other hand thesis demonstrates two examples of responsible way of business conduct and successful implementation of anti-corruption strategies. Its aim and core value is about combating with bribery, corrupted decision-making processes and unethical behaviour. Companies’ anti-corruption strategy are related to business ethics, anti-bribery and corruption, preventing tax evasion, data protection, whistleblowing, bullying and harassment, fair treating of customers. All of those areas are introduced in order to demonstrate example of bright corporate environment with more opportunities for creating value for everybody.

Keywords

#Corruption, #Corporate values, #Compliance, #Ethics, #Ethical Standards, #Corporate Culture, #Corporate Fraud, #Ethical Management, #Misconduct, #Professional and ethical standards, #Competence

Language used: English

Date on which the thesis was submitted / produced: 15. 10. 2020

Thesis defence

• Date of defence: 3. 11. 2020
• Supervisor: doc. Mgr. Ing. Petr Wawrosz, Ph.D.
• Reader: Ing. Petr Mach, Ph.D.

University of Finance and Administration

Master programme / field:
Economics and Management / Business Management and Corporate Finance