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題 名 | Ethical Behavior and Corporate Financial Performance |
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作 者 | Hess, Dan W.; | 書刊名 | Academy of Taiwan Business Management Review |
卷 期 | 3:3 2007.12[民96.12] |
頁 次 | 頁65-71 |
分類號 | 494.7 |
關鍵詞 | |
語 文 | 英文(English) |
英文摘要 | The unethical behavior of corporations has garnered headlines in recent years. This behavior has resulted in significant negative economic consequences for various stakeholders. The purpose of this paper is to explore the link between corporate ethical behavior and various measures of financial performance. In a rational world unethical behavior prior to being exposed might enhance financial performance. However, once exposed, declining financial performance would be expected. Using a sample of most and least admired companies identified by Fortune Magazine, the results show that declining financial performance occurs in the three years subsequent to the exposure of unethical behavior. However, contrary to the hypothesis, in the three years prior to the exposure no financial benefits were obtained as a result of the unethical behavior. |
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