Title: Corporate responsibilities and values in codes of ethics: an exploratory study of the Global Fortune companies
Authors: Ebru Saygılı; Yucel Ozturkoglu; Omer Ozturkoglu
Addresses: Department of International Trade and Finance, Yasar University, Izmir, Turkey ' Department of International Logistics Management, Yasar University, Izmir, Turkey ' Department of Business Administration, Yasar University, Izmir, Turkey
Abstract: This study aims to develop a common language for code of ethics (CofE) statements and explore whether Global Fortune companies have expanded their CofE statements by including all stakeholder responsibilities and universal values. The results of the exploratory factor analysis demonstrated that even though compliance and other first-generation CSR were the dominant concepts, second- and third-generation stakeholders were included in the first factor which was named as core values and responsibilities. In the four-factor model with 30 sub-factors, the second factor was community issues, the third factor was internal conduct and the fourth factor was employee rights. The findings indicated the complete presence of trustworthiness, citizenship and respect values whereas responsibility, fairness and caring values can be improved in CofE statements. Further, due to the dynamic nature of CofE companies should give more importance to new concepts like risks, fair dealing, fair competition, industry issues, training and education.
Keywords: codes of ethics; codes of conduct; corporate values; exploratory factor analysis; corporate responsibilities; Global Fortune companies.
European Journal of International Management, 2022 Vol.18 No.1, pp.76 - 101
Received: 21 Sep 2018
Accepted: 26 Mar 2019
Published online: 04 Jul 2022 *