Codes of Ethics and the Economic Results of Companies

Abstract

The goal of this paper is to determine how widespread the presence of a code of ethics is and the possiblerelationship between the presence of a code of ethics in Czech companies and the positive economic results of those companies over the last five years. The number of companies that are introducing ethical management continues to growglobally, including inthe Czech Republic. A code of ethics is a tool with which to determine the ethical infrastructure of a company, as well as manage it. However,expert opinions on the possible economic impact of ethical management differ considerably. Astatistical analysis of the results obtained from aquestionnaire surveyconducted among a sample of 297 companiesshowedthat the presence of a code of ethics,or a lack thereof, has no demonstrable impact onthe economic results of a company regardless ofits size.

Keywords

• Code of ethics
• economic impact
• prosperity
• management
• company
• ethical.