CorruptionCorruption and inEthical thought specific briberyBribery are as old as human history. Correspondingly, a large amount of academic literature has been focusing on these concepts. Yet, the effects of corruptionCorruption are still intensely debated. This chapter intends to shed some light on the practice of briberyBribery, exploring the implications from a business ethical perspectiveBusiness ethical perspective. After discussing the main reasons often given for engaging in acts of briberyBribery, we focus specifically on the argument of increasing businessBusiness performance and the dilemma of market competition, first applying a traditionalTraditional economic approach. There, we show that the apparently positive effects of briberyBribery are often merely short-term, resulting from underestimating the probability of detection as well as the costs inferred when the bribeBribe is detected. However, and in a second step, such purely economic argument is critically analyzed because it tends to neglect the wider impacts, especially on the legitimacyLegitimacy of businessesBusiness. In this context, we emphasize that to sustain such businessBusiness legitimacyLegitimacy, complianceCompliance management is not sufficient. Rather, stakeholderStakeholders expectations concerning the good conduct of businessBusiness must be respected. These ethical considerations lead us to conclude that an increased focus on legitimacy managementLegitimacy management should be considered, transcending simple complianceCompliance management approaches.