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Informal Institutions in the Corporate Governance System in Russia

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  • Piotr Wajszczyk

    (Łódź University of Technology, Poland)

Abstract

Various scholars of ethics and economics conduct research on the best modes of decision making which guarantee good outcome and moral behaviour of the individuals involved. Either of the modes considered, rules with regulations or discretion and judgment, find applicability in diversified professional circumstances. The paper investigates how discretion can be used in professional activity by using the Aristotelic-Thomistic framework. Results indicate that such a framework can be used by engineers in their working environments and by other working professionals with the main proposition that only in discretionary decision making is the person able to take full responsibility for the outcomes and to premeditate their moral worth in conscience before resolving to commit the act itself.

Suggested Citation

  • Piotr Wajszczyk, 2016. "Informal Institutions in the Corporate Governance System in Russia," Annales. Ethics in Economic Life, University of Lodz, Faculty of Economics and Sociology, vol. 19(4), pages 113-121, December.
    • Handle: RePEc:ann:journl:v:19:y:2016:i:4:p:113-121
    as

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    References listed on IDEAS

    as
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    6. Piotr Wajszczyk, 2015. "Discretion in Professional Practice and in Engineering Ethics," Annales. Ethics in Economic Life, University of Lodz, Faculty of Economics and Sociology, vol. 18(4), pages 129-136, December.
    7. Stéphanie Arnaud & David Wasieleski, 2014. "Corporate Humanistic Responsibility: Social Performance Through Managerial Discretion of the HRM," Post-Print hal-01369795, HAL.
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    9. Yan, Yanni & Chong, Chan Yan & Mak, Simon, 2010. "An exploration of managerial discretion and its impact on firm performance: Task autonomy, contractual control, and compensation," International Business Review, Elsevier, vol. 19(6), pages 521-530, December.
    10. Einat, Tomer, 2008. "Sentencing rationales, judicial discretion, and the practice of criminal fines in Israel," Journal of Criminal Justice, Elsevier, vol. 36(5), pages 444-452, September.
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    14. Howard Kunreuther & Mark Pauly, 2006. "Rules Rather Than Discretion: Lessons from Hurricane Katrina," NBER Working Papers 12503, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    personalistic professionalism in engineering ethics; discretion; human decision making; conscience; truth;
    All these keywords.

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure

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