Munich Personal RePEc Archive

Corporate ethical policies: evidence from large firms in Chile

Pezoa, Alvaro E. and Quiroga, Bernardo F. (2007): Corporate ethical policies: evidence from large firms in Chile. Published in: ESE Escuela de Negocios Documento de Trabajo No. DT-07-14 (9 January 2007)

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This study explores the current status of corporate ethical policies in the large-size firms currently operating in Chile and focus on the edition of formal documents on corporate ethics by means of a survey sent to the companies whose manning table exceeds 350 employees (460 firms), using for this selection the 2005 Directorio ITV de Empresas en Chile (ITV Directory of Corporations in Chile). The results obtained from the 116 responses received reveal that almost 60% of the firms possess ethics corporate documents; that in general there is consensus about the need to bear in mind the ethical conduct in the personnel selection, promotion and bonuses; and that generally a greater proportion of foreign firms have documents on ethics, as compared with the domestic firms. Likewise, a statistical verification was performed –whose results are only extrapolated to the large-size firms– on the correlation between possession of formal ethics documents and performance (measured as the value of 2005 sales), which had positive results and was statistically significant; at the same time, evidence was found, although somewhat weaker, to support the hypothesis of statistically positive correlation between such documents possession and the number of employees.

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