The Economic Results of a Company with a Code of Ethics

Abstract :

The aim of this paper is to verify the possibility of a connection between a company’s code of ethics and its economic results using a sample of 607 companies in the Czech Republic. There are two contradictory opinions on the influence of a code of ethics on a company’s economic results, and these opinions incline either towards the positive influence of a code of ethics on business results, or a negative influence, in particular in the short term. However, it is our belief that the presence of a code of ethics has no influence on the economic results of a company (Caha & Vokoun, 2017). The following hypothesis was set and subsequently confirmed: The presence of a code of ethics has no influence on the economic results of a company. The statistical tests performed on the basis of the results of the questionnaire survey showed that the presence or absence of a code of ethics has no demonstrable influence on the economic results of a company, irrespective of its size.