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Corporate ethical policies: evidence from large firms in Chile

Author

Listed:
  • Pezoa, Alvaro E.
  • Quiroga, Bernardo F.

Abstract

This study explores the current status of corporate ethical policies in the large-size firms currently operating in Chile and focus on the edition of formal documents on corporate ethics by means of a survey sent to the companies whose manning table exceeds 350 employees (460 firms), using for this selection the 2005 Directorio ITV de Empresas en Chile (ITV Directory of Corporations in Chile). The results obtained from the 116 responses received reveal that almost 60% of the firms possess ethics corporate documents; that in general there is consensus about the need to bear in mind the ethical conduct in the personnel selection, promotion and bonuses; and that generally a greater proportion of foreign firms have documents on ethics, as compared with the domestic firms. Likewise, a statistical verification was performed –whose results are only extrapolated to the large-size firms– on the correlation between possession of formal ethics documents and performance (measured as the value of 2005 sales), which had positive results and was statistically significant; at the same time, evidence was found, although somewhat weaker, to support the hypothesis of statistically positive correlation between such documents possession and the number of employees.

Suggested Citation

  • Pezoa, Alvaro E. & Quiroga, Bernardo F., 2007. "Corporate ethical policies: evidence from large firms in Chile," MPRA Paper 22424, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:22424
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    References listed on IDEAS

    as
    1. Fernando Lefort & Eduardo Walker, 2000. "Ownership And Capital Structure Of Chilean Conglomerates:Facts And Hypotheses For Governance," Abante, Escuela de Administracion. Pontificia Universidad Católica de Chile., vol. 3(1), pages 3-27.
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    More about this item

    Keywords

    Corporate ethical documents; Business ethics policy; Codes of conduct; Chile;
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other
    • M54 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Labor Management

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