Abstract

Using panel data for 16 Central and Eastern European countries from 2006 to 2015, we report there are six statistically explanatory variables for the variation of ethical behavior of firms in the CEE countries such as judicial independence, protection of minority shareholders interest, wastefulness of government spending, favoritism in decisions of government officials, rule of law and public trust in politicians. By using panel data related to 16 Central and Eastern European countries for a period of 10 years (2006–2015), we investigate the influence of specific legal, political, and country-level governance determinant factors on firms’ ethical behavior in the CEE region. Thus, we report there are certain statistically explanatory variables for the variation of ethical conduct of firms in the CEE countries such as judicial independence; strength of investor protection; protection of minority shareholders interest; wastefulness of government spending; government effectiveness; diversion of public funds; the rule of law and public trust in politicians. This study indicates the necessity for policymakers and political leaders to look for practical solutions to ensure the necessary enforcement mechanisms for improving firms’ ethical behavior in CEE countries.

摘要

利用2006年至2015年中欧和东欧16个国家的面板数据，我们报告了针对中东欧国家企业道德行为变化的六个统计解释变量，例如司法独立，保护小股东利益，政府支出的浪费，偏爱政府官员的决策，法治和对政客的公众信任。通过使用为期10年（2006-2015年）的与16个中欧和东欧国家有关的面板数据，我们研究了特定法律，政治和国家层面的治理决定因素对中东欧地区企业道德行为的影响。因此，我们报告了中东欧国家企业道德行为变化的某些统计解释变量，例如司法独立性；投资者保护的力量；保护中小股东利益；浪费政府开支；政府效力；挪用公共资金；法治和公众对政客的信任。这项研究表明，决策者和政治领导人有必要寻求切实可行的解决方案，以确保建立必要的执法机制，以改善中东欧国家的企业道德行为。