Exploring ethical business in central Europe : Leaders' values and perspectives on good practices

Journal article


Perényi, Áron, Selvarajah, Christopher, Tanas, Janusz, Tučková, Zuzana, Odrowaz-Coates, Anna, Tóth-Bozó, Brigitta and Minarova, Martina. (2020). Exploring ethical business in central Europe : Leaders' values and perspectives on good practices. Sustainability. 12(2), p. Article 670. https://doi.org/10.3390/su12020670
AuthorsPerényi, Áron, Selvarajah, Christopher, Tanas, Janusz, Tučková, Zuzana, Odrowaz-Coates, Anna, Tóth-Bozó, Brigitta and Minarova, Martina
Abstract

Weaknesses in the institutional environment of Central Europe challenge the sustainability of economic development. Institutional theory stipulates that institutions drive economic development, and institutions are configured by individual values and practices. The World Governance Indicators, the Corruption Perception Index, and the Doing Business Indicators indicate weaknesses in the institutional environments of the Visegrád countries. This paper explores the micro level perspective of institutions, focusing on values and practices, in terms of leadership and ethics. A survey of 868 private and public sector managers from Czech Republic, Hungary, Poland, and Slovakia provides evidence that leadership practices and ethical values are congruent, suggesting a positive influence on the institutional environment. The results also provide evidence for the presence of the gap, spanning between the micro and the macro level factors affecting sustainable economic development. These results imply that a bottom-up view of sustainable economic development is more suitable to the Central European context, and promotion of sustainable economic development needs to focus on the micro level factors.

Keywordssustainable economic development; institutions; leadership; ethics; Central Europe
Year2020
JournalSustainability
Journal citation12 (2), p. Article 670
PublisherMultidisciplinary Digital Publishing Institute (MDPI AG)
ISSN2071-1050
Digital Object Identifier (DOI)https://doi.org/10.3390/su12020670
Scopus EID2-s2.0-85079761582
Open accessPublished as ‘gold’ (paid) open access
Research or scholarlyResearch
Page range1-30
FunderInternational Visegrád Fund
Publisher's version
License
File Access Level
Open
Output statusPublished
Publication dates
Online16 Jan 2020
Publication process dates
Accepted14 Jan 2020
Deposited02 Aug 2022
Grant ID21220297
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