Abstract
Concepts of ethical behavior and corporate social responsibility have emerged in recent years due to organizations’ increasing ethical problems. Business ethics, social responsibility, and corporate governance are significant drivers for organizational performance, growth, and sustainable development (SD). In this paper, we propose an original tool, at a macroeconomic level, for the integration of concepts such as business ethics (BE), corporate social responsibility (CSR), and corporate governance (CG). The paper also seeks to establish the relationships among corporate responsibility dimensions (CR), sustainability, and economic performance. This research used the Sustainable Development Report 2020, Candriam’s ESG Country Report, World Bank Doing Business 2020 Report, World Bank national accounts data, and Eurostat as data sources. As part of the research, we selected the European Union states (27) plus the United Kingdom. The main results reveal the positive direct and indirect influences of corporate responsibility on economic performance, ultimately leading to sustainable development.
Highlights
Humanity is facing a global crisis involving multiple dimensions, threatening human society and the natural environment
We propose a third model of interactions: between corporate responsibility dimensions (CR), sustainability, and economic performance
We propose corporate responsibility to expand the concept of business ethics as a term that integrates three dimensions: good corporate governance (CG), corporate social responsibility (CSR), and BE
Summary
Humanity is facing a global crisis involving multiple dimensions, threatening human society and the natural environment. The evolution of the global economy and society is unsustainable in the long term if current trends are maintained. It is necessary to identify those trends that can transform the economy and society in general and put them on a sustainable path. Society’s demands on organizations aim for good coherent governance; solid business ethics; and proactive, socially responsible policies. By its very nature, is part of each individual’s and group’s behavior, generating a hierarchy of values and ways in which individuals and groups can respect generally accepted principles and values. The values of organizations must be instilled in all employees and reflected in ethical business conduct. Employees should be aware of the impact and consequences of unethical behavior
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
