TITLE:
Implementing Strategic Management via Code of Ethics: A Quantitative Research on Private Sector in Greece
AUTHORS:
Evangelia Pappa, John Filos, Alexandros Garefalakis, Panagiotis Kyriakogkonas
KEYWORDS:
Strategic Management, Code of Ethics, Business Ethics, Corporate Governance, Accounting Principles, Best Practices
JOURNAL NAME:
Theoretical Economics Letters,
Vol.12 No.4,
August
19,
2022
ABSTRACT: Code of ethics is a substantially important tool of
strategic management ensuring sound accounting and non-accounting corporate governance. It
exists as a written text articulating a bundle of rules, principles and
standards developed to curb unethical decisions. The effective use of a
value-based code of ethics safeguards integrity and transparency and preserves
trust and loyalty between a business and its stakeholders (investors,
customers, partners, and employees). Much empirical research has been done on
the codes of ethics, but a few studies have explored employee’s attitude and
perception regarding two
crucial dimensions of code of ethics. Thus, the aim of the study is to analyze
the code implementation strength and the code embeddedness. The first one
refers to the degree to which code is communicated within the business and the
other is the extent to which code is integrated into the business culture.
Primary data was obtained using a thirteen-item questionnaire from 2.408
employees working in different industries in Greece. Friedman’s test was used
to rank-ordering the measures for each questionnaire item and factor
analysis explore and categorize the crucial factors of code of ethics. The
findings presented have both policy implications and practical contributions.