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Title: Concerning evaluation of ethics impact on national economy's competitiveness

Authors: Maria Bakumenko; Anatoliy Sigal

Addresses: Department of Business Informatics and Mathematical Simulation, Institute of Economics and Management, V.I. Vernadsky Crimean Federal University, Sevastopolskaya Str. 21/4, Simferopol, 295015, Russia ' Department of Business Informatics and Mathematical Simulation, Institute of Economics and Management, V.I. Vernadsky Crimean Federal University, Sevastopolskaya Str. 21/4, Simferopol, 295015, Russia

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.

Keywords: firm; complex system; ethics; evaluation; corporate reputation; corporate safety; competitiveness; sustainable development; national economy; advanced technologies; risk; threat; decision making; firm’s ethical behaviour; EBF; Global Competitiveness Index; GCI.

DOI: 10.1504/IJRAM.2020.106164

International Journal of Risk Assessment and Management, 2020 Vol.23 No.1, pp.80 - 105

Received: 17 Nov 2018
Accepted: 30 Mar 2019

Published online: 25 Mar 2020 *

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