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| Author: | Hofmann, E. Hoelzl, E. Kirchler, E. |
| Title: | A comparison of models describing the impact of moral decision making on investment decisions |
| Journal: | Journal of Business Ethics
2008 : SEP III, VOL. 82:1, p. 171-187 |
| Index terms: | ethics investments decision making theories models behavioural science economics |
| Language: | eng |
| Abstract: | A plenty of models can be applied to explain moral behaviour. This study tests the suitability of (a) multiple attribute utility theory (MAUT), (b) theory of planned behaviour, and (c) issue-contingent model of ethical decision making in organizations. In an experimental setting, over 140 participants traded company shares in a computerized asset market. Over 12 periods, companies varied in morality (i.e. treatment of employees) and in profitability (i.e. expected dividends per share). Participants' bids and asks for shares were recorded. It is indicated that moral considerations influence decisions on investments, controlling for profit. Differences btw. the three models are discussed. |
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