Fighting corruption: A theoretical articulation of the themes of social responsibility, corporate governance, and agency theory

Abstract

Objective: Corruption, seen as the abuse or misuse of power or trust for one's benefit instead of the purpose for which that power or trust was granted, has caused problems for many countries and the principles of Social Responsibility through the models of Carroll and Schwartz and Corporate Governance (have been pointed out in the literature as a mitigating agent of this problem. On the other hand, other research indicates the need to be cautious when guided by the mentality of the Agency Theory, which defends it as a neutral and sufficient instrument to mitigate corruption problems. Method: This study consists of a theoretical essay based on a bibliographical survey that exposes the themes of Corruption, Social Responsibility, Corporate Governance, and Agency Theory. It surveys the different definitions, lines of research, lines of thought, supporting theories, dualities, and conflicts around the mainstream. Results: The study's justification is centered on the perception that while studies have empirically tested the relationship between corruption and countries' accounting environments, only some have dedicated themselves to critically reflecting on the knowledge produced about this relationship. Originality/Relevance: In the context presented, a good governance structure is recommended for effective administration and management in anti-corruption bodies. The principles of Corporate Governance and Social Responsibility, which are Transparency (disclosure), Accountability, and Fairness, align with the principles of Agency Theory, which are mainly related to ethics and morality in interpersonal relationships in organizations. Theoretical/methodological contributions: This contribution is intended to reflect on the need for organizations to contribute to the fight against corruption in their relations and to the realization of a socially responsible administration through Corporate Governance and Agency Theory, with consonance between the objectives of shareholders and agents in an intermittent fight against corruption.