Virtue Ethics, Corporate Sustainability, and Tax Disclosure: Evidence From Global Fortune 500

Chiara Mio, Silvia Panfilo and Francesco Scarpa

Business Strategy and the Environment, 2025, vol. 34, issue 6, 7033-7051

Abstract: Drawing on virtue ethics, this paper explores how corporate virtues influence sustainability performance and whether this, in turn, affects tax disclosure. Using a sample of 339 companies from the 2021 Fortune Global 500 list, our findings indicate that corporate virtues significantly drive sustainability performance. Furthermore, companies with higher sustainability performance are more likely to include tax disclosures in their sustainability reports. The findings suggest that tax transparency is not merely a compliance‐driven practice but a reflection of a company's commitment to the common good. By positioning tax disclosure as an extension of corporate virtues, this research enriches the discourse on sustainability reporting, offering valuable insights for policymakers, investors, and corporate leaders striving to align business success with societal impact.

Date: 2025
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