Exploring Ethical Business in Central Europe: Leaders’ Values and Perspectives on Good Practices

Áron Perényi, Christopher Selvarajah, Janusz Tanas, Zuzana Tučková, Anna Odrowaz-Coates, Brigitta Tóth-Bozó and Martina Minarova
Additional contact information
Áron Perényi: Swinburne Business School, Swinburne University of Technology, Melbourne VIC 3122, Australia
Christopher Selvarajah: Swinburne Business School, Swinburne University of Technology, Melbourne VIC 3122, Australia
Janusz Tanas: Peter Faber Business School, Australian Catholic University, East Melbourne VIC 3002, Australia
Zuzana Tučková: Faculty of Logistics and Crisis Management, Tomas Bata University in Zlín, Studentské nám., 1532 Uherské Hradiště, Czech Republic
Anna Odrowaz-Coates: Social Pedagogy Department, Maria Grzegorzewska University in Warsaw, 02-353 Warsaw, Poland
Brigitta Tóth-Bozó: Department of Economics, Budapest University of Technology and Economics, Magyar tudósok körútja 2., 1111 Budapest, Hungary
Martina Minarova: Faculty of Economics, Matej Bel University, 974 01 Banská Bystrica, Slovakia

Sustainability, 2020, vol. 12, issue 2, 1-30

Abstract: Weaknesses in the institutional environment of Central Europe challenge the sustainability of economic development. Institutional theory stipulates that institutions drive economic development, and institutions are configured by individual values and practices. The World Governance Indicators, the Corruption Perception Index, and the Doing Business Indicators indicate weaknesses in the institutional environments of the Visegrád countries. This paper explores the micro level perspective of institutions, focusing on values and practices, in terms of leadership and ethics. A survey of 868 private and public sector managers from Czech Republic, Hungary, Poland, and Slovakia provides evidence that leadership practices and ethical values are congruent, suggesting a positive influence on the institutional environment. The results also provide evidence for the presence of the gap, spanning between the micro and the macro level factors affecting sustainable economic development. These results imply that a bottom-up view of sustainable economic development is more suitable to the Central European context, and promotion of sustainable economic development needs to focus on the micro level factors.

Keywords: sustainable economic development; institutions; leadership; ethics; Central Europe (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:12:y:2020:i:2:p:670-:d:309603

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