Business ethics, company value and ownership structure

被引：0
|
作者：
Mehdi Mili
Sami Gharbi
Frédéric Teulon
机构：
[1] University of Bahrain (Bh),College of Business Administration
[2] University of Jendouba (Tn),Faculty of Law, Economics and Business
[3] IPAG Business School (Fr),undefined
来源：
Journal of Management and Governance | 2019年 / 23卷
关键词：
Business ethics; Corporate social responsibility; Ownership structure; Institutional ownership; Insider ownership;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
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.
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页码：973 / 987
页数：14
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