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Does country-level governance enhance ethical behaviour of firms? An African perspective

Otuo Serebour Agyemang, Giulia Fantini Orcid Logo, Joyce Frimpong

International Journal of Law and Management, Volume: 57, Issue: 6, Pages: 582 - 599

Swansea University Author: Giulia Fantini Orcid Logo

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DOI (Published version): 10.1108/IJLMA-12-2014-0063

Abstract

This paper examines the relationship between country-level governance and ethical behaviour of firms in African countries spanning, 2009-2012. It employs a broad set of country-level governance ratings by the World Bank and data on ethical behaviour of firms by the World Economic Forum’s report on G...

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Published in: International Journal of Law and Management
Published: 2015
URI: https://cronfa.swan.ac.uk/Record/cronfa21897
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fullrecord <?xml version="1.0"?><rfc1807><datestamp>2019-07-23T12:20:09.9206107</datestamp><bib-version>v2</bib-version><id>21897</id><entry>2015-06-02</entry><title>Does country-level governance enhance ethical behaviour of firms? An African perspective</title><swanseaauthors><author><sid>290e83934e79a0a29aec6575e0f82262</sid><ORCID>0000-0001-6923-0929</ORCID><firstname>Giulia</firstname><surname>Fantini</surname><name>Giulia Fantini</name><active>true</active><ethesisStudent>false</ethesisStudent></author></swanseaauthors><date>2015-06-02</date><deptcode>BAF</deptcode><abstract>This paper examines the relationship between country-level governance and ethical behaviour of firms in African countries spanning, 2009-2012. It employs a broad set of country-level governance ratings by the World Bank and data on ethical behaviour of firms by the World Economic Forum&#x2019;s report on Global Competitiveness. Full data of a total of 39 African economies out of the 54 (including two disputed) economies over the sample period was obtained for our analysis. We find a statistically significant and positive relationship between country-level rule of law, regulatory quality, control of corruption and democracy, and firm ethical behaviour of firms in African economies. This implies that improvement in country-level rule of law, regulatory quality, control of corruption and democracy tends to be associated with sound ethical behaviour of firms in African economies. However, we did not find any statistically significant relationship between country-level accountability, political stability, outsider model of governance, and ethical behaviour of firms.As a continent that is yet to fully discover its potential, the practice of good governance is particularly germane as this may not only help ensure sound ethical standards of corporations, but may also aid the continent to attract foreign investors, which will beneficially impact on economic growth and development of African economies. In this respect, efforts by governments across the continent to ensuring good governance are laudable. One possible way is to ensure an effective and transparent enforcement of laws to stimulate compliance in a specifically clear-cut manner- by crafting costs for non-compliance (for instance, legal costs, investigations cost, imprisonment, dent to image and fines).This paper reinforces the belief that the existence of country-level good governance could provide and enhance cohesive and internally consistent ethical standards of companies.</abstract><type>Journal Article</type><journal>International Journal of Law and Management</journal><volume>57</volume><journalNumber>6</journalNumber><paginationStart>582</paginationStart><paginationEnd>599</paginationEnd><publisher/><keywords>Country-level governance, ethical behaviour of firms, African economies, Perspective of ethical superiority, Corporate Governance, Business ethics, Corporate reputation, corruption and ethics of companies</keywords><publishedDay>31</publishedDay><publishedMonth>12</publishedMonth><publishedYear>2015</publishedYear><publishedDate>2015-12-31</publishedDate><doi>10.1108/IJLMA-12-2014-0063</doi><url/><notes></notes><college>COLLEGE NANME</college><department>Accounting and Finance</department><CollegeCode>COLLEGE CODE</CollegeCode><DepartmentCode>BAF</DepartmentCode><institution>Swansea University</institution><apcterm/><lastEdited>2019-07-23T12:20:09.9206107</lastEdited><Created>2015-06-02T10:54:31.6245337</Created><path><level id="1">Faculty of Humanities and Social Sciences</level><level id="2">School of Management - Economics</level></path><authors><author><firstname>Otuo Serebour</firstname><surname>Agyemang</surname><order>1</order></author><author><firstname>Giulia</firstname><surname>Fantini</surname><orcid>0000-0001-6923-0929</orcid><order>2</order></author><author><firstname>Joyce</firstname><surname>Frimpong</surname><order>3</order></author></authors><documents/><OutputDurs/></rfc1807>
spelling 2019-07-23T12:20:09.9206107 v2 21897 2015-06-02 Does country-level governance enhance ethical behaviour of firms? An African perspective 290e83934e79a0a29aec6575e0f82262 0000-0001-6923-0929 Giulia Fantini Giulia Fantini true false 2015-06-02 BAF This paper examines the relationship between country-level governance and ethical behaviour of firms in African countries spanning, 2009-2012. It employs a broad set of country-level governance ratings by the World Bank and data on ethical behaviour of firms by the World Economic Forum’s report on Global Competitiveness. Full data of a total of 39 African economies out of the 54 (including two disputed) economies over the sample period was obtained for our analysis. We find a statistically significant and positive relationship between country-level rule of law, regulatory quality, control of corruption and democracy, and firm ethical behaviour of firms in African economies. This implies that improvement in country-level rule of law, regulatory quality, control of corruption and democracy tends to be associated with sound ethical behaviour of firms in African economies. However, we did not find any statistically significant relationship between country-level accountability, political stability, outsider model of governance, and ethical behaviour of firms.As a continent that is yet to fully discover its potential, the practice of good governance is particularly germane as this may not only help ensure sound ethical standards of corporations, but may also aid the continent to attract foreign investors, which will beneficially impact on economic growth and development of African economies. In this respect, efforts by governments across the continent to ensuring good governance are laudable. One possible way is to ensure an effective and transparent enforcement of laws to stimulate compliance in a specifically clear-cut manner- by crafting costs for non-compliance (for instance, legal costs, investigations cost, imprisonment, dent to image and fines).This paper reinforces the belief that the existence of country-level good governance could provide and enhance cohesive and internally consistent ethical standards of companies. Journal Article International Journal of Law and Management 57 6 582 599 Country-level governance, ethical behaviour of firms, African economies, Perspective of ethical superiority, Corporate Governance, Business ethics, Corporate reputation, corruption and ethics of companies 31 12 2015 2015-12-31 10.1108/IJLMA-12-2014-0063 COLLEGE NANME Accounting and Finance COLLEGE CODE BAF Swansea University 2019-07-23T12:20:09.9206107 2015-06-02T10:54:31.6245337 Faculty of Humanities and Social Sciences School of Management - Economics Otuo Serebour Agyemang 1 Giulia Fantini 0000-0001-6923-0929 2 Joyce Frimpong 3
title Does country-level governance enhance ethical behaviour of firms? An African perspective
spellingShingle Does country-level governance enhance ethical behaviour of firms? An African perspective
Giulia Fantini
title_short Does country-level governance enhance ethical behaviour of firms? An African perspective
title_full Does country-level governance enhance ethical behaviour of firms? An African perspective
title_fullStr Does country-level governance enhance ethical behaviour of firms? An African perspective
title_full_unstemmed Does country-level governance enhance ethical behaviour of firms? An African perspective
title_sort Does country-level governance enhance ethical behaviour of firms? An African perspective
author_id_str_mv 290e83934e79a0a29aec6575e0f82262
author_id_fullname_str_mv 290e83934e79a0a29aec6575e0f82262_***_Giulia Fantini
author Giulia Fantini
author2 Otuo Serebour Agyemang
Giulia Fantini
Joyce Frimpong
format Journal article
container_title International Journal of Law and Management
container_volume 57
container_issue 6
container_start_page 582
publishDate 2015
institution Swansea University
doi_str_mv 10.1108/IJLMA-12-2014-0063
college_str Faculty of Humanities and Social Sciences
hierarchytype
hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Management - Economics{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Economics
document_store_str 0
active_str 0
description This paper examines the relationship between country-level governance and ethical behaviour of firms in African countries spanning, 2009-2012. It employs a broad set of country-level governance ratings by the World Bank and data on ethical behaviour of firms by the World Economic Forum’s report on Global Competitiveness. Full data of a total of 39 African economies out of the 54 (including two disputed) economies over the sample period was obtained for our analysis. We find a statistically significant and positive relationship between country-level rule of law, regulatory quality, control of corruption and democracy, and firm ethical behaviour of firms in African economies. This implies that improvement in country-level rule of law, regulatory quality, control of corruption and democracy tends to be associated with sound ethical behaviour of firms in African economies. However, we did not find any statistically significant relationship between country-level accountability, political stability, outsider model of governance, and ethical behaviour of firms.As a continent that is yet to fully discover its potential, the practice of good governance is particularly germane as this may not only help ensure sound ethical standards of corporations, but may also aid the continent to attract foreign investors, which will beneficially impact on economic growth and development of African economies. In this respect, efforts by governments across the continent to ensuring good governance are laudable. One possible way is to ensure an effective and transparent enforcement of laws to stimulate compliance in a specifically clear-cut manner- by crafting costs for non-compliance (for instance, legal costs, investigations cost, imprisonment, dent to image and fines).This paper reinforces the belief that the existence of country-level good governance could provide and enhance cohesive and internally consistent ethical standards of companies.
published_date 2015-12-31T03:26:01Z
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score 11.013686

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