Concerning evaluation of ethics impact on national economy's competitiveness Online publication date: Wed, 01-Apr-2020
by Maria Bakumenko; Anatoliy Sigal
International Journal of Risk Assessment and Management (IJRAM), Vol. 23, No. 1, 2020
Abstract: This study aims to evaluate the impact of the ethical behaviour of firms on a national economy's competitiveness, based on data given in Global Competitiveness Reports. The firm is a complex open dynamic socio-economic system. Firms' sustainable development is impossible without a good reputation. In its decision making, the firm must comply with the code of ethics. The introduction of new technologies and innovations can result in extra risks and threats for the firm's external environment. Firms shall do no harm to their external environment. The firm's ethical behaviour contributes to preservation of its competitiveness and, accordingly, to its safety. The research paper constructs several models (linear equations) of dependence between the ethical behaviour of firms and the Global Competitiveness Index. We checked the constructed models for adequacy using an F-test. Our findings testify to a rather strong impact of the ethical behaviour of firms on national economies' competitiveness globally.
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