Business ethics, company value and ownership structure
Sami Gharbi () and
Additional contact information
Mehdi Mili: University of Bahrain (Bh)
Sami Gharbi: University of Jendouba (Tn)
Journal of Management & Governance, 2019, vol. 23, issue 4, No 8, 973-987
Abstract This paper examines the effect of ethical performance on the value of a company and the attractiveness of its stocks for major owners; institutional investors and insiders. Using the Ethisphere® Institute Ethics Quotient to distinguish between ethical and unethical companies, results show that good ethical performance enhanced company value for a sample of 240 large US companies. Furthermore, strong evidence is found that institutional investors are attracted to ethical companies, but that insiders do not show any investment preferences based on the ethical performance of a company.
Keywords: Business ethics; Corporate social responsibility; Ownership structure; Institutional ownership; Insider ownership (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
http://link.springer.com/10.1007/s10997-019-09475-z Abstract (text/html)
Access to full text is restricted to subscribers.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:kap:jmgtgv:v:23:y:2019:i:4:d:10.1007_s10997-019-09475-z
Ordering information: This journal article can be ordered from
http://www.springer. ... 29/journal/10997/PS2
Access Statistics for this article
Journal of Management & Governance is currently edited by Lino Cinquini
More articles in Journal of Management & Governance from Springer, Accademia Italiana di Economia Aziendale (AIDEA) Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla ().