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Board‐level ethics committees in large European firms
Business Ethics: A European Review ( IF 5.056 ) Pub Date : 2020-06-17 , DOI: 10.1111/beer.12305
Josep Garcia‐Blandon 1 , David Castillo‐Merino 1 , Josep Maria Argilés‐Bosch 2 , Diego Ravenda 3
Affiliation  

After the approval of a code of ethics, the creation of a permanent board‐level ethics committee is the next step in the institutionalization of business ethics. This study explores how the board's structure and demographic characteristics explain the decision to form an ethics committee. The analysis is based on the constituents of the Standard and Poor's Europe 350 index. Consistent with our hypotheses, we find that ethics committees are more likely to be found in firms with a lower presence of executive directors and of directors holding MBA degrees. However, we also observe that boards chaired by executive directors seem to favor the creation of an ethics committee. Additionally, as we had anticipated, firms with stronger agency conflicts seem to be more willing to create committees. The analysis conducted with segmented samples reveals that the model has greater explanatory power when applied to firms from common‐law and French civil‐law countries than when applied to firms from the German–Scandinavian civil‐law area. Finally, our results indicate that a firm's country of origin is a more influential factor in explaining the decision to create an ethics committee than the industry to which it belongs or even the magnitude of its agency conflicts.

中文翻译:

欧洲大型公司的董事会道德操守委员会

在批准道德守则后,建立常设董事会级别的道德委员会是商业道德制度化的下一步。这项研究探索了董事会的结构和人口特征如何解释成立道德委员会的决定。该分析基于标准普尔欧洲350指数的成分。根据我们的假设,我们发现,在执行董事和拥有MBA学位的董事人数较少的公司中,更可能成立道德委员会。但是,我们还观察到,由执行董事主持的董事会似乎更喜欢建立道德委员会。此外,正如我们预期的那样,发生机构冲突的公司似乎更愿意成立委员会。对分段样本进行的分析表明,与应用于德国-斯堪的纳维亚民法地区的公司相比,该模型对普通法和法国民法国家的公司具有更大的解释力。最后,我们的结果表明,与解释公司所属行业甚至代理机构冲突的严重程度相比,公司的原籍国在解释成立道德委员会的决定时更具影响力。
更新日期:2020-06-17
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