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| Author: | Rebello, M. Noe, T. |
| Title: | The dynamics of business ethics and economic activity |
| Journal: | American Economic Review
1994 : JUN, VOL. 84:3, p. 531-547 |
| Index terms: | BUSINESS ETHICS ECONOMICS AMERICA |
| Language: | eng |
| Abstract: | The authors model the agency relationship between managers and investors. Through socialization, ethical managers develop internalized norms which prevent them from acting opportunistically. Unethical managers lack these norms. Higher ethical standards on the part of managers increase economic activity in the short run. However, increased economic activity increases opportunities to profit from unethical behavior, eroding ethical standards over the long run. |
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