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| Author: | Rodriguez-Dominguez, L. Gallego-Alvarez, I. Garcia-Sanchez, I.M. |
| Title: | Corporate governance and codes of ethics |
| Journal: | Journal of Business Ethics
2009 : DEC (I), VOL 90:2, p. 187-202 |
| Index terms: | business ethics corporate responsibility corporate governance board of directors objectives stakeholders managers |
| Language: | eng |
| Abstract: | In theory, outside members in Boards of Directors are in a better position than insiders to protect and further the interests of all stakeholders due to their experience and their sense of moral and legal obligations. Female directors also tend to be more sensitive to ethics according to several past studies. This paper aims to determine the effect of these characteristics of the Board in terms of promoting and hindering the creation of a code of ethics. The findings show that a great number of female directors does not necessarily lead to more ethical companies. Moreover, entrenchment of upper-level management, generating a divergence between the ethical interests of owners and managers. |
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