Corporate Values, Codes of Ethics, and Firm Performance: A Look at the Canadian Context

Journal of Business Ethics 82 (3):527-537 (2008)

In this empirical study, we present two new models that are corporate ethics based. The first model numerically quantifies the corporate value index (CV-Index) based on a set of predefined parameters and the second model estimates the market-to-book values of equity in relation to the CV-Index as well as other parameters. These models were applied to Canadian companies listed on the Toronto Stock Exchange (TSX). Through our analysis, we found statistically significant evidence that corporate values (CV-Index) positively correlated with firm performance. The results are even more significant for firms with low market-to-book values. Our empirical findings suggest that corporate ethics is vital for management, employees, shareholders, stakeholders, and the community at large. In addition, we have tested and confirmed five hypotheses that are used to illustrate corporate ethics behavior and performance.
Keywords codes of ethics  corporate values  ethical values  firm performance
Categories (categorize this paper)
DOI 10.1007/s10551-007-9579-x
Edit this record
Mark as duplicate
Export citation
Find it on Scholar
Request removal from index
Revision history

Download options

Our Archive

Upload a copy of this paper     Check publisher's policy     Papers currently archived: 46,282
External links

Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
Through your library

References found in this work BETA

Business codes of multinational firms: What do they say?Muel Kaptein - 2004 - Journal of Business Ethics 50 (1):13-31.

View all 16 references / Add more references

Citations of this work BETA

View all 13 citations / Add more citations

Similar books and articles

Corporate Governance Mechanisms and the Performance of Small-Cap Firms in Canada.Lorne N. Switzer & Catherine Kelly - 2006 - International Journal of Business Governance and Ethics 2 (s 3-4):294-328.
Board Structure and Performance in an Emerging Economy: Turkey.Nisan Selekler-Goksen & Abdulmecit Karatas - 2008 - International Journal of Business Governance and Ethics 4 (2):132-147.
A Code of Ethics for Corporatecode of Ethics.Mark S. Schwartz - 2002 - Journal of Business Ethics 41 (1-2):27 - 43.


Added to PP index

Total views
60 ( #146,659 of 2,285,987 )

Recent downloads (6 months)
9 ( #107,196 of 2,285,987 )

How can I increase my downloads?


My notes

Sign in to use this feature