1 TotalEnergies EP Nigeria; Lagos, Nigeria.
2 ExxonMobil, Lagos, Nigeria.
3 Department of Business Administration, Faculty of Administration and Management, Rivers State University, Nigeria.
4 Department of Mechanical Engineering, University of Ibadan, Nigeria.
Research Article
World Journal of Advanced Research and Reviews, 2024, 24(01), 1901-1912
Received on 08 September 2024; revised on 21 October 2024; accepted on 23 October 2024
This review examines the role of anti-corruption initiatives in driving innovation and growth within the energy sector, with a particular focus on emerging markets. As global demand for energy continues to rise, the imperative for ethical and transparent business practices grows stronger. This study synthesizes current literature on anti-corruption measures, transparency initiatives, and their impacts on competitive advantage in the energy industry. Through a comprehensive analysis of case studies and empirical research, we identify several key mechanisms through which transparency can foster innovation and drive growth. These include enhanced stakeholder trust, improved access to capital, attraction of top talent, and the creation of an ethical corporate culture that encourages innovation. Our findings suggest that successful anti-corruption initiatives in the energy sector require a nuanced understanding of local contexts, strong leadership commitment, and the strategic use of technology. The review also highlights the potential of open data platforms and blockchain technology in facilitating transparency and compliance. By identifying key factors contributing to successful anti-corruption efforts and their subsequent impacts on innovation and growth, this study provides valuable insights for policymakers, industry leaders, and researchers working towards a more transparent and innovative energy sector. Future research directions are proposed to further explore the long-term impacts and scalability of these initiatives across different market contexts.
Anti-Corruption; Energy Sector; Transparency; Innovation; Competitive Advantage; Emerging Markets
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Wasiu Abiola Owoola, Babatunde Alaba Olaniyo, Okwe Daniel Obeka and Sakiru Folarin Bello. Competitive advantages of transparency: How anti-corruption initiatives can drive innovation and growth in the energy sector. World Journal of Advanced Research and Reviews, 2024, 24(1), 1901-1912. Article DOI: https://doi.org/10.30574/wjarr.2024.24.1.3242