This is a very interesting question and I guess the answers are as various as the reasons to set up corporate blogs.
Sponsored reviews are great means to monetize blogs and websites but in terms of credibility… you’ll find yourself on shaking ground. As a corporate blogger you want to have the support of high authority bloggers and they are not very fund of sponsored reviews. Not because they do not monetize their blogs, but because they have other sources of income and they’ve came up with some “ethical” standards that say that any paid review is “unethical.”
In the end, ethics are a matter of perspective. Radio and TV ads are as annoying as online ads, yet no one complains. Have you ever heard someone saying “TV commercials are unethical?” Or: “I do not trust TV stations that broadcast commercials?”
Bloggers need a way to make up for their time, especially those who bring something valuable to the online community. I am not talking here about scrapper blogs, but about unique content, unique ideas, unique design. Yet corporate blogs do lose credibility when money is involved. Sponsored reviews work just for personal or freelance blogs.
To make a long story short: no! Corporate blogs should NOT publish sponsored reviews.
As a corporation, you could monetize your blog by publishing affiliate ads and ads by Google (including Google referral ads). These are customary and generally accepted. All these ads should be clearly identified as “sponsored.” Everything else will just hurt your credibility, traffic, linking opportunities and rankings.