Cui bono? Corruptors and the corrupted – Corporate governance and corruption: the roles and responsibilities of the private sector.

This chapter looks at the role played by the private sector in corruption. It introduces the incidence of private sector corruption around the world and the consequences that this can have for effective government. The chapter provides an overview of international efforts to combat corruption through multilateral frameworks. It discusses the way companies are directed and controlled and can mitigate the chances of a company engaging in corrupt conduct. The chapter also discusses the main issues and responsibilities of the private sector when it comes to ‘undue influence’ in the corporate lobbying of politicians and the ‘revolving door’ of personnel moving between the private and public sectors. It shows that while lobbying and revolving-door politics may be legal in most countries, the two often closely related corporate practices may constitute a form of ‘political corruption’ that causes more harm than good.