IDEAS home Printed from https://ideas.repec.org/a/ers/ijebaa/vxy2022i1p111-124.html
   My bibliography  Save this article

Market Ethic and Morality Transformation in Emerging Economies

Author

Listed:
  • Fuan Li

Abstract

Purpose: The integration of transitional economies into the global economic system has led to unprecedented economic growth and prosperity in developing countries. In the meantime, moral degradation, inequities of wealth, corruption, and environmental deterioration are endemic of those countries. The present study aims to examine the role of market ethic in economic reform and morality transformation in transitional economies. Design/Methdology/Approach: The economic reform undertaken in the largest transitional economy in the world is analyzed to reveal the critical role of market ethic in economic transition, and the importance of embracing ethics of justice in morality transformation. Findings: The results show that market ethic is critical to the success of economic reform and that morality of justice is essential for regulating market force and providing the ethical foundation of the market. The findings of this study should enhance our understanding of the role of market ethic in economic reform and the importance of justice in transforming morality. Practical Implications: This study should provide important guidance and invaluable insights for business managers as well as policy makers in emerging economies. Originality value: The findings demonstrate that adopting a market economic system inevitably leads to changes in beliefs, values and ethical norms. Embracing ethics of justice is key to successful morality transformation in emerging economies.

Suggested Citation

  • Fuan Li, 2022. "Market Ethic and Morality Transformation in Emerging Economies," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 111-124.
    • Handle: RePEc:ers:ijebaa:v:x:y:2022:i:1:p:111-124
    as

    Download full text from publisher

    File URL: https://www.ijeba.com/journal/752/download
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Fuan Li & Xingyuan Wang & Rajiv Kashyap, 2019. "Socially Responsible Practice and CSR Orientation of Chinese Managers: The Role of Confucian Ethics and Confucian Dynamism," Sustainability, MDPI, vol. 11(23), pages 1-13, November.
    2. Jerry Evensky, 2005. "Adam Smith's Theory of Moral Sentiments: On Morals and Why They Matter to a Liberal Society of Free People and Free Markets," Journal of Economic Perspectives, American Economic Association, vol. 19(3), pages 109-130, Summer.
    3. M. Hashmi & Amal Damanhouri & Divya Rana, 2015. "Evaluation of Sustainability Practices in the United States and Large Corporations," Journal of Business Ethics, Springer, vol. 127(3), pages 673-681, March.
    4. Hanafin, John J., 2002. "Morality and the Market in China: Some Contemporary Views," Business Ethics Quarterly, Cambridge University Press, vol. 12(1), pages 1-18, January.
    5. Po Ip, 2009. "The Challenge of Developing a Business Ethics in China," Journal of Business Ethics, Springer, vol. 88(1), pages 211-224, April.
    6. Rajshekhar G. Javalgi & La Toya M. Russell, 2018. "International Marketing Ethics: A Literature Review and Research Agenda," Journal of Business Ethics, Springer, vol. 148(4), pages 703-720, April.
    7. Yan Li & Fiona Yao & David Ahlstrom, 2015. "The social dilemma of bribery in emerging economies: A dynamic model of emotion, social value, and institutional uncertainty," Asia Pacific Journal of Management, Springer, vol. 32(2), pages 311-334, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Shujun Chao & Shanyong Wang & Haidong Li & Shu Yang, 2023. "The power of culture: Does Confucian culture contribute to corporate environmental information disclosure?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(5), pages 2435-2456, September.
    2. WANG Jifu & GUPTA Vipin & LYBOLT Liza & WANG Xiuli, 2022. "Corrected Game Model In Csr: Mnc Strategies And Chinese Practice," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 17(3), pages 269-287, December.
    3. Catherine Le Roux & Marius Pretorius, 2016. "Conceptualizing the Limiting Issues Inhibiting Sustainability Embeddedness," Sustainability, MDPI, vol. 8(4), pages 1-22, April.
    4. Shafer, William E., 2008. "Ethical climate in Chinese CPA firms," Accounting, Organizations and Society, Elsevier, vol. 33(7-8), pages 825-835.
    5. Kelly Z. Peng, 2017. "Responding to emotions in China: Gender differences and the emotion-job outcome relationship," Asia Pacific Journal of Management, Springer, vol. 34(2), pages 443-460, June.
    6. Feng Zhang & Haina Zhang & Geoffrey G. Bell, 2021. "Corporate religiosity and individual decision on conducting entrepreneurial activity: The contingent effects of institutional environments in China," Asia Pacific Journal of Management, Springer, vol. 38(3), pages 955-978, September.
    7. Aki Tomizawa & Li Zhao & Geneviève Bassellier & David Ahlstrom, 2020. "Economic growth, innovation, institutions, and the Great Enrichment," Asia Pacific Journal of Management, Springer, vol. 37(1), pages 7-31, March.
    8. Hope Osayantin Aifuwa, 2020. "Sustainability Reporting And Firm Performance In Developing Climes: A Review Of Literature," Copernican Journal of Finance & Accounting, Uniwersytet Mikolaja Kopernika, vol. 9(1), pages 9-29.
    9. Dmitry A. Ruban & Natalia N. Yashalova & Vladimir A. Ermolaev, 2021. "Is Environment a Strategic Priority of the Leading Energy Companies? Evidence from Mission Statements," Sustainability, MDPI, vol. 13(4), pages 1-18, February.
    10. Stimel, Derek & Sekerka, Leslie E., 2018. "Play fair! Innovating internal self-regulation in the market for profit," Business Horizons, Elsevier, vol. 61(1), pages 115-124.
    11. William Shafer & Kyoko Fukukawa & Grace Lee, 2007. "Values and the Perceived Importance of Ethics and Social Responsibility: The U.S. versus China," Journal of Business Ethics, Springer, vol. 70(3), pages 265-284, February.
    12. Hannes Hofmann & Christian Busse & Christoph Bode & Michael Henke, 2014. "Sustainability‐Related Supply Chain Risks: Conceptualization and Management," Business Strategy and the Environment, Wiley Blackwell, vol. 23(3), pages 160-172, March.
    13. Subramaniam Ananthram & Christopher Chan, 2016. "Religiosity, spirituality and ethical decision-making: Perspectives from executives in Indian multinational enterprises," Asia Pacific Journal of Management, Springer, vol. 33(3), pages 843-880, September.
    14. Nick Lee & Amanda Beatson & Tony Garrett & Ian Lings & Xi Zhang, 2009. "A Study of the Attitudes Towards Unethical Selling Amongst Chinese Salespeople," Journal of Business Ethics, Springer, vol. 88(3), pages 497-515, October.
    15. Cristina López-Duarte & Marta M. Vidal-Suárez & Belén González-Díaz, 2018. "The early adulthood of the Asia Pacific Journal of Management: A literature review 2005–2014," Asia Pacific Journal of Management, Springer, vol. 35(2), pages 313-345, June.
    16. Carey, Peter & Liu, Li & Qu, Wen, 2017. "Voluntary corporate social responsibility reporting and financial statement auditing in China," Journal of Contemporary Accounting and Economics, Elsevier, vol. 13(3), pages 244-262.
    17. Gregory Wolcott, 2018. "The Rehabilitation of Adam Smith for Catholic Social Teaching," Journal of Business Ethics, Springer, vol. 149(1), pages 57-82, April.
    18. Fuming Jiang & Tatiana Zalan & Herman H. M. Tse & Jie Shen, 2018. "Mapping the Relationship Among Political Ideology, CSR Mindset, and CSR Strategy: A Contingency Perspective Applied to Chinese Managers," Journal of Business Ethics, Springer, vol. 147(2), pages 419-444, January.
    19. Kit-Chun Lam & Guicheng Shi & Guicheng Shi, 2008. "Factors Affecting Ethical Attitudes in Mainland China and Hong Kong," Journal of Business Ethics, Springer, vol. 77(4), pages 463-479, February.
    20. Johan Graafland & Hugo Smid, 2014. "Does Corporate Social Responsibility Really Make a Difference? An Explorative Analysis for Chinese Companies," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 22(2), pages 102-124, March.

    More about this item

    Keywords

    Economic reform; transitional economies; market ethic; morality of justice; moral transformation.;
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ers:ijebaa:v:x:y:2022:i:1:p:111-124. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Marios Agiomavritis (email available below). General contact details of provider: https://ijeba.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.