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The Most Vulnerable Macroeconomic Environment
46% of executives in Greece believe that corruption is prevalent in the country, according to Ernst & Young's 15th Global Fraud Survey. However, this percentage is significantly lower than last year, so it was 81%.
As Associate Partner and Head of the Investigation Department on Financial Fraud and Commercial Litigation in Greece, Yannis Drakoulis, Ethics, Corruption and Fraud Remain for Greece and the World, a Challenge for companies. He added that Greece's performance is improving but continues to approach emerging market levels
Dr Drakulis mentioned in particular that only 8% of Greek respondents responded positively to the situation. whether this had been noted a case of major fraud in their business in the last two years, lower than the global scale (11%). Indeed, it is one of the weakest in research in countries like China, Ireland and Sweden (8%).
According to the survey results, the percentage of executives who consider corruption prevalent in Greece in our country (46%) remains significantly higher than other European economies and developed it is moving towards emerging market levels. It should be noted that, in six European countries, the estimates of the frameworks on the extent of the corruption phenomenon were higher than those of Greece: in the Czech Republic (56%), Bulgaria (60%), Slovakia and Hungary (66%), Italy (68%) and Cyprus (80%). Nevertheless, Greece has higher or similar percentages with countries and regions such as Saudi Arabia (46%), Indonesia (42%), India (40%), the Middle East (38%) and Romania (34%). ), and Turkey (32%).
Cash is the most common practice
The EU survey also examined forms of bribes or bribes ready to accept the leaders of the EU. 39; businesses. As a widespread practice, the cash payment is highlighted, with 13% of the sample in the world saying that this would justify this practice if it helped his company survive a period of economic recession. In Greece, the corresponding rate is significantly higher at 20% compared to 5% in Western Europe and 6% in developed countries. The only European countries with a higher figure in this question are Slovakia and Cyprus (44%).
On the contrary, business leaders in Greece seem less receptive to other forms of corruption: 6% would justify personal gifts or counterfeit financial data, against respectively 11% and 5% in the # 39; sample set, while only 4% would accept corruption in the form of entertainment or hospitality, compared with 21% in the total sample
The most macroeconomic environment great threat
Itisan researchers, but participants identify the biggest threats to their business. In Greece, the most popular answer was the macroeconomic environment (48% versus 42% of the total sample and 45% in emerging markets), suggesting that Greeks are still concerned about the growth prospects of the Greek economy. Here are the changes in the regulatory environment (38% in Greece and 43% in the total sample) and cyberattacks (32% and 37%, respectively)
The survey reveals a contradiction between The widespread badumption that corruption remains widespread perception that companies have taken the necessary steps to solve the problem. Thus, 59% of the sample (68% in Greece) considers that "his company has a specialized approach based on risk, depending on the specificities of the country, the industry and the activity some thirds". At the same time, 78% of the total (94% in Greece) believe that there are clear penalties for those who do not comply with the company policy, while 57% at the same time. International (58% in Greece) were sanctioned
At the same time, executives seem to adequately understand the benefits that accrue to a company that proves that it behaves with integrity. The main benefits, according to the participants, are the image formed by the customers (72% at the international level, 90% in Greece), public perception (62% at the international level, 73% in Greece), the performances successful commercials (59%, 63% in Greece) and shareholder perception (52% internationally, 63% in Greece)
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