The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu The leading online blog in the fields of corporate governance and financial regulation. Sat, 06 Jun 2026 11:30:34 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.8 https://corpgov.law.harvard.edu/wp-content/uploads/2024/02/cropped-photography-4-e1706898544564-1-32x32.png Business Ethics in Emerging Markets and Investors’ Expectations Standards – The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu 32 32 Business Ethics in Emerging Markets and Investors’ Expectations Standards https://corpgov.law.harvard.edu/2013/01/19/business-ethics-in-emerging-markets-and-investors-expectations-standards/?utm_source=rss&utm_medium=rss&utm_campaign=business-ethics-in-emerging-markets-and-investors-expectations-standards https://corpgov.law.harvard.edu/2013/01/19/business-ethics-in-emerging-markets-and-investors-expectations-standards/#comments Sat, 19 Jan 2013 15:20:49 +0000 http://blogs.law.harvard.edu/corpgov/?p=38951?d=20150113134015EST Posted by George Dallas, F&C Management Ltd., on Saturday, January 19, 2013
Editor's Note:

George Dallas is Director of Corporate Governance at F&C Investments. This post is based on an article by Mr. Dallas that first appeared in the International Corporate Governance Network’s 2012 Yearbook.

Ethics is in origin the art of recommending to others the sacrifices required for cooperation with oneself.” Bertrand Russell

Since the publication of its Statement and Guidance on Anti-Corruption Practices in 2009, the ICGN has actively advocated the fight against bribery and corruption as a fundamental component of the corporate governance agenda. The Statement and Guidance takes a global perspective, making clear that anticorruption is a priority in all markets.

But is it appropriate to set the same standards for anticorruption in all jurisdictions, particularly in emerging markets, where many underlying conditions are different and where bribery and corruption are particularly acute in both the public and private sectors? This was the question posed as the main discussion point at ICGN’s “Town Hall” meeting on business ethics in its June 2012 conference in Rio de Janeiro. Meeting participants, from a range of developed and emerging markets, expressed a resounding consensus that investors should not compromise their standards on anticorruption in emerging markets, even if corruption may be a more deep-rooted problem. However, while absolute standards on anticorruption should remain undiluted — beginning with a “zero tolerance” position — there may be different anticorruption strategies to apply in emerging markets, reflecting economic, cultural and legal differences.

(more…)

]]> https://corpgov.law.harvard.edu/2013/01/19/business-ethics-in-emerging-markets-and-investors-expectations-standards/feed/ 1