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Exploring ethical business in central Europe : Leaders' values and perspectives on good practices
Perényi, Áron Selvarajah, Christopher Tanas, Janusz Tučková, Zuzana Odrowaz-Coates, Anna Tóth-Bozó, Brigitta Minarova, Martina
Perényi, Áron
Selvarajah, Christopher
Tanas, Janusz
Tučková, Zuzana
Odrowaz-Coates, Anna
Tóth-Bozó, Brigitta
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.
Keywords
sustainable economic development, institutions, leadership, ethics, Central Europe
Date
2020
Type
Journal article
Journal
Book
Volume
12
Issue
2
Page Range
1-30
Article Number
Article 670
ACU Department
Peter Faber Business School
Faculty of Law and Business
Faculty of Law and Business
Collections
Relation URI
Source URL
Event URL
Open Access Status
Published as ‘gold’ (paid) open access
License
CC BY 4.0
File Access
Open