Corruption Is The Act Or Effect Of Giving Or Receiving A Thing Of Value?

Corruption Is The Act Or Effect Of Giving Or Receiving A Thing Of Value?

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It is defined in the online Oxford dictionary as “dishonest or fraudulent conduct by those in power, typically involving bribery”.
Another definition of corruption is “the act or effect of giving or receiving a thing of value, in order that a person do or omit to do something, in violation of a formal or implicit rule about what that person ought to do or omit to do, to the benefit of the person who gives the thing of value or a third party”. (Argandona, 2005):
These definitions emphasize the following features of corruption (Argandona, 2005):
• It is an action, an omission, or an attempt to do such action.
• It consists of giving and receiving.
• It involves the exchange of something of value.
• It is done by an individual holding a position of power/authority
• It is in violation of a formal or implicit rule.
• The rule or agreement requires that the person who does or omits to do should always act in accordance with certain interests inherent in her post or position.
James Neelankavil classifies the causes of corruption into three main areas:
1. environmental variables
2. individual variables
3. firm related variables
i) Ambiguous laws and regulations
ii) Poor enforcement of property rights and the rule of law
iii) The overall culture of governance also plays an important role in corruption
Inequalities of Power and Wealth
4. Consequences of corruption
Corruption takes place in industrialized countries, developing countries and less developed countries and seems to have been accepted as no more than a cost of doing business in many countries. As a result, corruption was identified as one of the greatest obstacles to social and economic development of nations. The effects of corruption are felt in monetary terms from a b...

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... Companies: The use of Facilitating Payments, in Journal of Business Ethics, 60, 251-264
Nwabuzor, A., (2005). Corruption and Development: New Initiatives in Economic Openness and Strengthened Rule of Law, in Journal of Business Ethics, 59; 121-138
Dr Heather M., (2013). Corruption,Politics and Development: The Role of the World Bank. Palgrave Macmillan.
Arnold J. H., and Michael J., (2011). Political Corruption: Concepts and Contexts. Transaction Publishers.
Mr. Moses M., (2013). Conceptualising Corruption. Article retrieved from
Wrong, M. (2014, May 6). Everyone is corrupt in Kenya, even grandmothers. Retrieved from
Transparency International. (2014). Overview of corruption and anti-corruption. Retrieved from
The Star Newspaper

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