The impact of a shift in organizational role on ethical perceptions: A comparative study

This study investigates ethical decision-making by considering the differences in ethical judgments between undergraduate business and MBA students on selected ethical issues facing employees and managers of today's businesses. The study further investigates differences in ethical judgments between undergraduates and MBAs in terms of a perceived position as an employee or as a manager. The findings indicate that undergraduate students tend to be more ethical than MBA students and that both groups tend to be more ethical when they perceive themselves as managers rather than employees. The authors discuss the implications for both business practitioners and educators.Shohreh A. Kaynama is Associate Professor of Marketing in the School of Business and Economics at Towson State University in Baltimore, Maryland. She earned a Ph.D. in Marketing and the Decision Sciences. Dr. Kaynama has published extensively in numerous National and International proceedings. Her area of research is strategic marketing, consumer behavior, applications of computers and decision sciences in marketing and global marketing. Louise W. Smith is Professor of Marketing in the School of Business and Economics at Towson State University in Baltimore, Maryland. Dr. Smith's main professional interest is consumer behavior. Dr. Smith's articles have appeared in the Journal of Public Policy & Marketing, Journal of Health Care Marketing, Journal of Marketing Education, Journal of Services Marketing, and Journal of Consumer Marketing among others. Algin B. King is Professor of Marketing in the School of Business and Economics at Towson State University in Baltimore, Maryland. He has served on the Faculties of seven universities, publishing numerous articles in National Professional Meetings Proceedings and scholarly journals including Journal of Euro-Marketing, Atlantic Economic Journal. In addition he has served as a business consultant to numerous business firms.     

Consumer complaint handling in an advanced developing economy: An empirical investigation

The purpose of this article is to examine consumer protection, complaint, and statisfaction/dissatisfaction behaviors in developing countries with special reference to an advanced developing country — Turkey. The study was designed to describe consumer complaint handling issues in urban Turkey. It tries to explain consumer behavior differences along five consumer product categories as to the frequency and manner of consumer complaining behavior and suggests insights into the effectiveness of consumer complaint handling policies in Turkey. It is maintained that the study results are also applicable to other developing countries which are at a similar level of socio-economic and technological development.Erdener Kaynak, Ph.D. is currently a Professor of Marketing at the School of Business Administration of The Pennsylvania State University at Harrisburg, Middletown, Pennsylvania. Dr. Kaynak has served as a business consultant and training adviser to a number of Turkish, Canadian, Dutch, American, Peruvian, Yugoslavian, and international organizations. A prolific author, he has published over one hundred articles in refereed scholarly and professional journals as well as being the author or co-author of thirteen books. Dr. Kaynak is also Executive Editor ofInternational Business Press (IBP), an imprint of the Haworth Press Inc. of New York, London, and Sydney. In this capacity, in addition to being responsible for the international business book series, he edits several international marketing journals.Orsay Kucukemiroglu is presently an Assistant Professor of Business Administration at the Pennsylvania State University, York Campus, York, Pennsylvania. He holds a B.S. degree in Economics, an M.A. in Statistics, and an M.Sc. in Business Administartion and Operations Research. He also holds a CPA designation in the Communwealth of Pennsylvania. Mr. Kucukemiroglu has published articles in such journals asDecision Sciences, International Journal of Bank Marketing, Journal of Professional Services Marketing as well as presenting papers before various learned societies in North America and in Europe.Yavuz Odabasi is Professor of Marketing and Director of the Vocational Training School of Anadolu University in Eskisehir, Turkey. A graduate of Turkish and U.S. universities, Dr. Odabasi was a faculty member at Erciyes University before joining his current university. He has published articles in such journals asService Industries Journal, International Journal of Bank Marketing as well as publishing in Turkish academic and professional journals.     

Exploring the structure of ethical attributions as a component of the consumer decision model: The vicarious versus personal perspective

The managerial ethics literature is used as a base for the inclusion of Ethical Attribution, as an element in the consumer's decision process. A situational model of ethical consideration in consumer behavior is proposed and examined for Personal vs. Vicarious effects. Using a path analytic approach, unique structures are reported for Personal and Vicarious situations in the evaluation of a seller's unethical behavior. An attributional paradigm is suggested to explain the results. Joel Whalen is an Assistant Professor of Marketing at DePaul University, Chicago. He has published articles in Psychology & Marketing, Journal of Business Research, and Journal of Business Ethics. His research has been published in the proceedings of the American Marketing Association's Micro-Computers in Marketing Conference; Atlantic Marketing Association; the American Marketing Association Conference on Culture and Sub-Cultural Influences; Northeast Decision Science Institute, Southern Marketing Association, and Decision Sciences Institute. Robert E. Pitts, is Professor and Chair of the Department of Marketing and the Director of the Kellstadt Center for Marketing Analysis and Planning at DePaul University. He served as a member of the faculty of Jacksonville State University, the University of Notre Dame and the University of Mississippi. Dr. Pitts' research has appeared in numerous publications including the Journal of Marketing, Journal of Bank Research, Journal of Advertising, Journal of Consumer Research, Journal of Marketing Education, Journal of Business Research, Journal of Social Psychology, Southern Economic Review, Journal of Travel Research, Journal of Behavioral Economics, The Mid-South Journal of Economics, Psychology and Marketing, Marketing and Media Decisions and Journal of Insurance Issues and Practices. Dr. Pitts is the editor of Personal Values and Consumer Psychology (Lexington Publishers, and co-author of Bank Marketing, A Guide to Strategic Planning, and Effective Bank Marketing Issues, Techniques and Application. Over the past decade, Dr. Pitts has served as a consultant to such firms as General Motors Corporation, Congolium Corp-Kinder Division, National Standard Steel Corp, WalMart Corp Training Programs, Illinois State Chamber of Commerce and Council of State Chambers of Commerce. John K. Wong teaches International Marketing Management and Consumer Behavior at DePaul University. He served as a member of the faculty of the University of Missouri at Columbia and Washington State University. Dr. Wong's research has appeared in numerous publications including the International Marketing Review, Journal of Business Research, Journal of Ambulatory Care Management, International Journal of Bank Marketing and the proceedings of the American Marketing Association, Association for Consumer Research, Academy of Marketing Science, Academy of International Business and Pan-Pacific Business Association.     

Employers' pay practices and potential responses to “comparable worth” litigation an identification of research issues

Comparable worth is a controversial compensation strategy. In this paper, research issues that arise when employers perform point-based job evaluations, but deviate from them because of market factors, are discussed. Greater research attention to the actual operation of markets and to the consequences of conflicts in equity perceptions is encouraged. Marcia P. Miceli is Associate Professor of Management and Human Resources at Ohio State University. Her research interests are in the areas of compensation administration, professional dissent and whistle-blowing, and employee selection and recruitment. Her previous works in these areas have been published in Academy of Management Review, Administrative Science Quarterly, Journal of Applied Psychology, and Journal of Business Ethics. John D. Blackburn is Associate Professor at the College of Business at Ohio State University. He has won the Best Article Award — American Business Law Journal. He is the co-author (with Julius Getman) of Labor Relations: Law, Practice and Policy. Stephen L. Mangum is Assistant Professor of Management and Human Resources at Ohio State University. His research has been in the areas of economic development, employment and training programs, pay equity, and military manpower and has appeared in such journals as Journal of Development Economics, Journal of Collective Negotiations in the Public Sector, Armed Forces and Society and Challenge. He is author (with Dr. C. Y. Hsieh) of A Search for Synthesis in Economic Theory (New York: M. E. Sharpe, 1986).An earlier version of this paper was presented at a meeting of the Academy of Management. The authors thank Jerry Greenberg and Arnon Reichers for their helpful comments on an earlier draft.     

Ethics,Income and Religion

This paper investigates the relationship between ethics and income among individuals of different religions in the HKSAR of China. The presence of both traditional Chinese religion and Christianity from the West makes our study particularly interesting. The content of ethical beliefs varies with religion and thus the effect of ethics on income may also vary across religion. Furthermore, a reverse causal relationship may run from income to ethics. Since culture and taste affect the consumption behavior of a person, depending on the religion of the person, a person with a higher income may or may not like to ‘acquire’ more ethics. Our empirical results find that there is indeed a simultaneous relationship between income and being ethical so that a single equation estimation of income on ethics and vice versa generates biased estimates. Using a two-stage instrumental variable estimation, our study finds that being ethical contributes to higher income for Christians and the non-religious group, but lowers it for people of traditional Chinese religion. On the other hand, an increase in income increases the likelihood of a person’s being ethical for both Christians and the people of traditional Chinese religion, but reduces it for the non-religious group. Dr. Kit-Chun LAM is Professor in Economics Department of the Hong Kong Baptist University. She is also Guest Professor in the Centre for Business Ethics of the Shanghai Academy of Social Sciences, China. Her work has appeared in the Journal of Business Ethics, Journal of Labor Economics, Journal of Comparative Economics, Canadian Journal of Economics, Economica and Labour Economics. Dr. Bill Hung is Associate Professor in Economics Department of the Hong Kong Baptist University. His work has appeared in the Journal of International Money and Finance, Journal of Business Finance and Accounting, Pacific-Basin Finance Journal, Atlantic Economic Journal, Asia Pacific Journal of Management, etc.     

The association between corporate social-responsibility and financial performance: The paradox of social cost

It is generally assumed that common stock investors are exclusively interested in earning the highest level of future cash-flow for a given amount of risk. This view suggests that investors select a well-diversified portfolio of securities to achieve this goal. Accordingly, it is often assumed that investors are unwilling to pay a premium for corporate behavior which can be described as socially-responsible.Recently, this view has been under increasing attack. According to the Social Investment Forum, at least 538 institutional investors now allocate funds using social screens or criteria. In addition, Alice Tepper Marlin, president of the New York-based Council on Economic Priorities has recently estimated that about $600 billion of invested funds are socially-screened (1992). MOSES L. PAVA is Associate Professor of Accounting and the Alvin Einbender Chair in Business Ethics at the Sy Syms School of Business, Yeshiva University. His research interests include financial reporting and business ethics. He has recently published articles in the Journal of Accountancy, Management Accounting, The Financial Executive, and Journal of Applied Business Research. His first book, The Shareholder's Use of Corporate Annual Reports, was published in 1993. JOSHUA KRAUSZ is Gershon and Merle Stern Professor of Banking and Finance at the Sy Syms School of Business, Yeshiva University. His research interests are in the areas of financial analysis, ethics and social responsibility, financial accounting, options and derivatives, price behavior, capital budgeting and taxation. He has published in The Review of Economics and Statistics, The Oxford Bulletin of Economics and Statistics, Accounting Horizons, Applied Economics, The Journal of Extractive Industries Accounting, and The Mid-Atlantic Journal of Business.     

Characteristics and practices of “Christian-based” companies

There is a sizeable group of self-described Christian companies which have declared their belief in the successful merging of biblical principles with business activities. As these companies have become more visible, an increasing number of anecdotal newspaper and magazine articles about these companies have appeared. Surprisingly, no rigorous research has been conducted prior to our recent study. This article provides national estimates of the size and predominant characteristics of self-identified Christian companies. In addition, the study investigated the types of relationships these companies maintained with their employees, customers, communities, and suppliers.Nabil Ibrahim is an Assistant Professor of Business Administration at Augusta College, Augusta, Georgia. He has published articles, case studies, and professional papers in the areas of business policy and strategy.Dr. Leslie W. Rue is Professor of Management in the College of Business Administration at Georgia State University. He is the author of over forty articles, cases, and papers that have appeared in academic and practitioner journals. He has coauthored eight textbooks in the field of management.Dr. Patricia P. McDougall is an Assistant Professor of Management at Georgia State University. Her research focuses primarily on new venture strategies and international entrepreneurship and has been published in several academic journals. Dr. G. Robert Grenne is an Associate Professor of Management at Old Dominion University, Norfolk, Virginia where he teaches strategic management and entrepreneurship. He is a Contributing Editor to Spiritual Fitness in Business and has published articles in various academic and practitioner journals.     

The ethics of psychoactive ads

Many of today's ads work by arousing the viewer's emotions. Although emotion-arousing ads are widely used and are commonly thought to be effective, their careless use produces a side-effect: the psychoactive ad. A psychoactive ad is any emotion-arousing ad that can cause a meaningful, well-defined group of viewers to feel extremely anxious, to feel hostile toward others, or to feel a loss of self-esteem. We argue that, because some ill-conceived psychoactive ads can cause harm, ethical issues must arise during their production. Current pretesting methods cannot identify the potentially psychoactive ads; therefore, we offer some tentative guidelines for reducing the number of viewers harmed by psychoactive ads.No professional, be he doctor, lawyer, or manager, can promise that he will indeed do good for his client. All he can do is try. But he can promise that he will not knowingly do harm.... Peter F. Drucker, Management ... [C]oncern for consumer welfare includes an obligation to critically evaluate all marketing techniques that have indeterminant psychological effects. Spence and Moinpour, 1972, p. 43 Dr. Michael R. Hyman is an Assistant Professor of Marketing at the University of Houston — Clear Lake. He is a member of the American Marketing Association, Institute for Management Science, Academy of Marketing Science, Southern Marketing Association, and World Future Society. His work has appeared in the Journal of Marketing, Journal of Business Research, Journal of Retailing, Business Horizons, and several AMA national proceedings. His current research interests include foundations research and philosophical analyses in marketing. Dr. Richard Tansey is an Instructor of Marketing at the University of Wisconsin — Green Bay. He has his Ph.D. in history from the University of Texas, at Austin, Texas. He received his B.A. in philosophy from the University of West Florida. He minored in philosophy of history and psycho-history while earning his Ph.D. He received a Woodrow Wilson graduate fellowship in philosophy in 1971–1972. His work has appeared in Business Horizons.     

An empirical examination of three machiavellian concepts: Advertisers vs. the general public

This paper examines the perceived ethics of advertisers and the general public relative to three ethical concepts. Based on the survey findings, it can be concluded that with regard to the ethically-laden concepts of manipulation, exploitation, and deviousness, advertisers are perceptually as ethical as the general public. The research also clarifies some of the differences between ethics and Machiavellianism.John P. Fraedrich is an Assistant Professor of Marketing at Southern Illinois University at Carbondale. Dr. Fraedrich's teaching and research interests are primarily in the areas of business ethics, international channels, strategy, and theory. His recently completed dissertation was entitled Philosophy Type Interaction in the Ethical Decision Making Process of Retailers. O. C. Ferrell is the Distinguished Professor of Marketing and Business Ethics in the Fogelman College of Business and Economics at Memphis State University. Dr. Ferrell is the author of articles in the Journal of Marketing, Journal of Marketing Research, Journal of Business Research, Journal of the Academy of Marketing Science, Journal of Advertising, Journal of Risk and Insurance, Journal of Consumer Affairs, Journal of Health Care Marketing, as well as others. He is co-author of Marketing: Concepts and Strategies, 6th ed., Marketing Strategy and Plans, 3rd ed., and Business. William M. Pride is a Professor of Marketing at Texas A&M University. Dr. Pride's teaching and research interests are primarily in the areas of consumer behavior, promotion, and advertising. He has written several books and has published numerous articles in a variety of journals including the Journal of Marketing, Journal of Marketing Research, Journal of Retailing, and the Journal of Advertising.     

An M-sector,N-group behavioral model of self-employment

A behavioral model is developed to determine the number of self-employed individuals in an economy characterized by different production sectors and social groups of which the individuals differ by their risk-aversion, their evaluation of job characteristics other than income, their expected managerial ability, the variance of their managerial ability and their productive performance as employee. The model leads to a linear complementarity problem that can be solved by the Lemke-algorithm. The 1-sector, n-group model and the m-sector, 2-group model are singled out for an extensive comparative static analysis.The research reported in this paper is part of the project Economics of Political Decision-making of the University of Amsterdam. We acknowledge the financial support obtained from the Ministry of Economic Affairs by way of the Research Institute for Small and Medium-Sized Business. We are grateful to M. A. Keyzer and an anonymous referee for useful comments and suggestions. We further acknowledge the comments by P. S. A. Renaud, A. R. Thurik, A. J. M. Kleijweg, and participants in the 1987 meeting of the European Economic Association and the 1987 Econometric Society European Meeting (both in Copenhagen) on an earlier version of this paper. All errors and omissions remain our responsibility.     

Business ethics: Conflicts,practices and beliefs of industrial executives

This paper presents the responses of 118 executives to a mail survey which examined their views of business ethics and various business practices. In addition to identifying various sources of ethical conflict, current business practices are also examined with respect to how ethical or unethical each is believed to be. Results are also presented which outline executive responses to four ethical business situations. Overall conclusions to the study are outlined, as well as future research needs.Scott J. Vitell is Assistant Professor of Marketing at the University of Mississippi. His most important publications include A General Theory of Marketing Ethics (1986) (with Shelby D. Hunt) and Marketing's Contribution to Economic Development: A Look at the Last 30 Years (1985) (with Van R. Wood). Troy A. Festervand is an Associate Professor of Marketing at the University of Mississippi. Dr. Festervand obtained his Ph.D. in 1980 from the University of Arkansas. His publications have appeared in the Akron Business and Economic Review, Journal of Small Business Management, and elsewhere. He is active in a number of organizations and a frequent participant at professional meetings.     

Thinking and Acting Outside the Neo-classical Economic Box: Reply to McMurtry

This paper responds to Professor John McMurtry, primarily to his critique (Journal of Business Ethics, Vol. 44, 2003) of my recent book, Economics as Moral Science (Springer-Verlag, 2001). Although agreeing with my attribution of a moral a priorism to orthodox or neo-classical economics, McMurtry takes issue with my conversion thesis, that ana priori, ethically committed theory can be transformed into a testable empirical science of actual behaviour through the application of institutional constraints to individual motivations. McMurtry views such a thesis as logically possible but morally abhorrent. In so doing, he ascribes a version of economic determinism to me which, he claims, leads me to mistakenly understand the neo-classical paradigm as circumscribing the boundaries of reality itself and thereby entrenching the life-destructive values presupposed by this paradigm. I reject such a reading of Economics as Moral Science and explain the manner in which it is inconsistent both with the theoretical substance and practical agenda of my work. I propose that the irreducible basis of disagreement remains one wherein I believe that a more radical reform of the capitalist market order is mandatory to establish more defensible moral ideals than does McMurtry. My reply closes by recommending a constitutional partitioning of material goods such that we may more securely act outside the ethical constraints of neo-classical theoryBernard Hodgson is Professor of Philosophy at Trent University in Peterborough, Ontario, Canada. He received his B.A. (Philosophy and Economics) from the University of Toronto and his Ph.D. (Philosophy) from the University of Western Ontario. Dr. Hodgson has been a Visiting Fellow at the University of Cambridge and, recently, has been the author of Economics as Moral Science (Springer-Verlag, 2001), and the editor of The Invisible Hand and the Common Good (Springer-Verlag, 2004)     

Risk,commitment, and project abandonment

This article deals briefly with the most loathsome of business topics — the admission of failure. Rather than actively encouraging project Anti-champions, many organizations experiencing financial duress inadverdently stifle opposing opinion. In some cases recognition is delayed until it is too late. This is unfortunate since failure can be managed like any other business situation. Companies with CEOs that foster open communications between finance and operations are more likely to avoid escalating commitment to failed projects.Prudence is a rich, ugly old maid courted by incapacity. William Blake Mike Devaney is Associate Professor of Finance at South-East Missouri State University. His primary research interest is real estate finance. He has published in the Journal of the American Real Estate and Urban Economics Association, Journal of Real Estate Research, and The Appraisal Journal to name a few. He also enjoys writing on popular business myth and has published on this subject in Business and Society Review as well as others.     

The individual investor in securities markets: An ethical analysis

In this paper we consider whether one type of individual investor, which we call at risk investors, should be denied access to securities markets to prevent them from suffering serious financial harm. We consider one kind of paternalistic justification for prohibiting at risk investors from participating in securities markets, and argue that it is not successful. We then argue that restricting access to markets is justified in some circumstances to protect the rights of at risk investors. We conclude with some suggestions about how this might be done.Robert E. Frederick is Assistant Professor of Philosophy at Bentley College and Assistant Director of the Center for Business Ethics. Before coming to Bentley College he worked at a large financial institution for nine years, where he was Vice President for Administrative Services. Dr. Frederick has authored or co-authored over fifteen articles and has co-edited four books. He has consulted on business ethics for several major corporations. W. Michael Hoffman is the founding Director of the Center for Business Ethics, and Professor and Chair of the Department of Philosophy at Bentley College, Waltham, MA. He was President of the Society for Business Ethics in 1989. He has authored or edited ten books, including Business Ethics: Readings and Cases in Corporate Morality (McGraw-Hill, 1984; 1990) and published over thirty articles. He has consulted on business ethics for many major corporations and institutions of higher learning, and he serves on the board of several journals.     

New Firm Formation and Regional Economic Development: An introduction and review of the Scottish experience

This paper introduces this special edition ofSmall Business Economics on New Firm Formation and Regional Economic Development. It integrates the articles appearing in this volume with others presented at the Economic and Social Research Council Urban and Regional Economics Seminar Group conference on this theme in January 1994 in Ayr, Scotland. Many of the studies are derived from a Scottish Enterprise research programme on the contribution of new enterprises and entrepreneurs to economic development, and the factors explaining the low levels of business start-ups in Scotland. Comparative data, research and experiences from across the UK, European Union and US are called upon to improve the understanding of the processes involved. The findings are sometimes unsuspected, challenging the super-structure of business development agencies and their attitudes and behaviour towards indigenous potential entrepreneurs.     

Ethical decision making: An investigation of services marketing professionals

This study investigates the relative influences of professional values and selected demographic variables on the ethical perceptions of services marketing professionals. The relationship between ethical perceptions and ethical judgments of service marketers is also examined. The data were obtained from a mail survey of the American Marketing Association's professional members of service industries. The survey results indicate a positive relationship between a service professional's professional values and his/her perceptions of ethical problems. The results also suggest that ethical judgments of a service professional can be partially explained by his/her perceptions of ethical problems. Implications of the research findings were discussed. Anusorn Singhapakdi is Associate Professor of Marketing at Old Dominion University. His research has been primarily in the areas of marketing/business ethics. He published in various journals such as Journal of the Academy of Marketing Science, Journal of Business Ethics, Journal of Macromarketing, Journal of Personal Selling & Sales Management, and Journal of Public Policy & Marketing. He has presented papers at various professional conferences including the American Marketing Association and the Academy of Marketing Science.C. P. Rao is Eminent Scholar and William B. Spong Chair in Marketing and International Business at Old Dominion University. He has also served on the Marketing faculty at the University of Arkansas and at the Indian Institute of management. He participated in the ICAME program at Stanford University. Dr. Rao was awarded the C.P.M. (Certified Purchasing Manager) by the National Association of Purchasing Manager. Dr. Rao is a frequent contributor to many leading journals and has received the Distinguished Faculty Research Award in the College of Business Administration at the University of Arkansas three times. Scott J. Vitell is Associate Professor and Phil B. Hardin Chair of Marketing at the University of Mississippi. His work has appeared in the Journal of the Academy of Marketing Science, Journal of Business Ethics, Journal of Business Research, Journal of Macromarketing, Journal of Personal Selling & Sales Management, and Research in Marketing as well as various other journals and proceedings.     

Corporate Ethical Identity as a Determinant of Firm Performance: A Test of the Mediating Role of Stakeholder Satisfaction

In this article, we empirically assess the impact of corporate ethical identity (CEI) on a firm’s financial performance. Drawing on formulations of normative and instrumental stakeholder theory, we argue that firms with a strong ethical identity achieve a greater degree of stakeholder satisfaction (SS), which, in turn, positively influences a firm’s financial performance. We analyze two dimensions of the CEI of firms: corporate revealed ethics and corporate applied ethics. Our results indicate that revealed ethics has informational worth and enhances shareholder value, whereas applied ethics has a positive impact through the improvement of SS. However, revealed ethics by itself (i.e. decoupled from ethical initiatives) is not sufficient to boost economic performance. Pascual Berrone is a PhD candidate of the Business Administration and Quantitative Methods Ph.D. program at the Universidad Carlos III de Madrid. His current research interests focus on business ethics, stakeholder theory, and various aspects of the interface between corporate governance mechanisms and corporate social responsibility. His interests also include ethical, environmental and social issues and their impact on firms' overall performance. Dr. Jordi Surroca is an Assistant Professor of Management at the Department of Business Administration at the Universidad Carlos III de Madrid. He holds a PhD in Business Administration and a Licentiate Degree in Business and Economics from Universitat Autònoma de Barcelona. His research interests center on stakeholder management, firm strategy, innovation, and corporate governance. Dr. Josep A. Tribó is Associate Professor of Finance in the Department of Business Administration at the Universidad Carlos III de Madrid. He has a PhD in Economic Analysis from the Universitat Autònoma de Barcelona and a Licenciate Degree in Theoretical Physics by Universitat de Barcelona. His research interests are Corporate Finance and the financing of R&D. His work has been published in journals such as Applied Economics, International Journal of Production Economics.     

Ethics and behavior on the Russian commodity exchange

With tumultuous changes occurring in the former Soviet Union, a unique opportunity exists to examine the implications of unethical behavior in what is,de facto, a totally unregulated market. Recent legalization of commodity trading in Moscow carried with it no legal structure to ensure swift compliance with contract terms. This paper demonstrates that in the absence of legal remedies, a free marketplace appropriately punishes unethical conduct.Michael A. Kolosov. Educated in engineering, Mr. Kolosov has published several articles in numerous trade and technical journals throughout the former Soviet Union. Currently, Mr. Kolosov is a floor trader for the Forum Brokerage Company on the Russian Commodity Exchange in Moscow.Deryl W. Martin. Dr. Martin has presented his research at several regional and national conferences, and has previously published in theJournal of Economics and Business, theJournal of Financial and Strategic Decisions, theJournal of Business and Economic Perspectives, and theJournal of Business Ethics. He is currently Assistant Professor of Finance at Tennessee Technological University in Cookeville, TN.Jeffrey H. Peterson. Dr. Peterson also has presented several papers at regional and national meetings and has published in theNew York State Economic Review and theJournal of Business Ethics. He is currently Assistant Professor of Finance at Saint Bonaventure University in Saint Bonaventure, NY.Direct knowledge of the first author is the primary source of information for this article. Though figures quoted in this paper were accurate when written, we regret that the rate of change in Commonwealth society outpaces our ability to relate timely market data.     

Business regulation,business ethics and the professional employee

The differences in business reactions to legal regulation, and the nature of business moralities, are examined through the eyes of an expert group — in-house lawyers. The research indicates that lawyers inevitably provide a degree of control through their technical expertise, but that they also identify strongly with their companies and emphasise shared ethics rather than ethical differences between lawyers and their employers. This can partly be explained by their integration with the company but also rests on the problematic nature of law and regulatory controls in relation to organisations within the community. In-house lawyers therefore reject a policing role in favour of a counselling role. Since they perceive themselves as part of a shared culture of ethics, they also avoid a leadership role. However, the article suggests that the nature of legal judgment should assist lawyers towards such a role, while recognising that organisational statesmanship must be constrained by organisational culture and the wider community culture of ethical standards. Dr Karl J. Mackie is Director of the Centre for Legal Studies in the University of Nottingham, where he lectures in employment law and in management skills development. Lawyers in Business: and the Law Business is published by Macmillan (London) 1989. Dr Mackie is a member of the Business Strategy Network and a consultant in business strategy.This paper has been adapted from Mackie, Lawyers in Business: and the Law Business (1989), (London: Macmillan), ch. 10.     

Does East Meet West in Business Ethics: An Introduction to the Special Issue

This article introduces and summarizes selected papers from the first World Business Ethics Forum held in Hong Kong and Macau in November 2006, co-hosted by the Hong Kong Baptist University and by the University of Macau. Business Ethics in the East remain distinct from those in the West, but the distinctions are becoming less pronounced and the ethical traffic flows both ways. Gabriel D, Donleavy is Professor and Dean of the Faculty of Business Administration at the University of Macau teaching Business Ethics, Business Negotiation and Advanced Management. His work has been published in Critical Perspectives in Accounting, Corporate Governance, the Journal of Business Ethics, Advances in Applied Business Strategy, the Journal of Higher Education Policy and Management, Long Range Planning and the Asian Review of Accounting which he co-founded. Kit-Chun Joanna LAM is Professor in Department of Economics of the Hong Kong Baptist University. She is also Guest Professor in the Centre for Business Ethics of the Shanghai Academy of Social Sciences, China. She received her Ph.D. degree in economics from Harvard University. Her work has appeared in the Journal of Business Ethics, Journal of Labor Economics, Canadian Journal of Economics, Economica, Journal of Comparative Economics, and Labour Economics. Simon S.M. Ho is Dean and Professor at the School of Business and Director for Corporate Governance and Financial Policy, Hong Kong Baptist University. He founded the Asia-Pacific Corporate Governance Conference and the world’s first master programme in corporate governance & directorship in 2004. He published over 40 academic refereed articles in leading journals such as Journal of Accounting, Accounting & Finance, Journal of Accounting & Public Policy, and Journal of Corporate Finance.