| Author: | Donker, H. Poff, D. Zahir, S. |
| Title: | Corporate values, codes of ethics, and firm performance: A look at the Canadian context |
| Journal: | Journal of Business Ethics
2008 : OCT II, VOL. 82:3, p. 527-537 |
| Index terms: | business ethics company performance Canada models |
| Freeterms: | values |
| Language: | eng |
| Abstract: | This empirical study presents two new models based on corporate (here as: corp.) ethics. The 1st model numerically quantifies the corp. value index (CV-Index) based on a set of predefined parameters. The 2nd model estimates the market-to-book (as: m-to-b.) values of equity in relation to the CV-Index with other parameters. These models are applied to Canadian companies listed on the Toronto Stock Exchange (TSX). There is found statistically significant evidence that corp. values (CV-Index) positively correlates with firm performance. The results are even more significant for firms with low m-to-b. values. It is suggested that corp. ethics is vital for management, employees, share- and stakeholders, and the community as a whole. |
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