Who Is Ethical?: The Code of Business Ethics in Korean Workplaces

Abstract

This study examines the presence of a code of business ethics across Korean workplaces. It uses neo-institutional theory and economic perspective to explain the presence of such a code. Based on data pertaining to 468 Korean workplaces, it uses a logistic regression model to identify the predictors of the presence of a code of business ethics. The findings suggest that Korean workplaces have a code of business ethics to respond to institutional pressures and to improve their market competiveness. The findings suggest, too, that even after the financial crisis of 1997, Korea still remains in the tradition of a strong state, a predicament which yields a difference between Korea and Western countries in terms of institutional arrangements among business and society.