The Impact of Codes of Ethics on Decision Making: Some Insights from Information Economics [Book Review]
David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
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Journal of Business Ethics 48 (4):365-379 (2003)
Although it is suggested that an important role for codes of ethics is to influence decision making, the little research into the impact of codes of ethics on decisions finds little impact. Insights from information economics help to explain this. If an individual will select the action that a code of ethics indicates to be ethical in the absence of a code, then expressing that position in a code of ethics will have no impact on the action chosen. Even if the individual will select the action that a code of ethics indicates to be unethical in the absence of a code, the presence of a statement in the code of ethics must cause the individual's beliefs to change enough so that he or she changes actions. This can be a fairly high obstacle. Enforcement provisions can increase the likelihood that an individual will select the action that a code of ethics indicates to be ethical. There are limits, however, as to how effective enforcement provisions can be. Therefore, although there may be other important goals for a code of ethics, having an impact on decision making is one that is often difficult to achieve
|Keywords||Philosophy Ethics Business Education Economic Growth Management|
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Citations of this work BETA
Muel Kaptein & Mark S. Schwartz (2008). The Effectiveness of Business Codes: A Critical Examination of Existing Studies and the Development of an Integrated Research Model. [REVIEW] Journal of Business Ethics 77 (2):111 - 127.
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Ahmet Ekici & Sule Onsel (2013). How Ethical Behavior of Firms is Influenced by the Legal and Political Environments: A Bayesian Causal Map Analysis Based on Stages of Development. [REVIEW] Journal of Business Ethics 115 (2):271-290.
Han Donker, Deborah Poff & Saif Zahir (2008). Corporate Values, Codes of Ethics, and Firm Performance: A Look at the Canadian Context. [REVIEW] Journal of Business Ethics 82 (3):527 - 537.
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