Issue 1 Full paper ETHICS AND THE IMPACT ON CORPORATE GOVERNANCE

• Main Author: Oana-Marina BĂTAE
• Format: Article
• Language: English
• Published: Romanian Foundation for Business Intelligence 2018-07-01
• Series: Cross-Cultural Management Journal
• Subjects: Ethics; Code of Conduct; Fraud; Whistleblowing; Romanian Banking Ethical Code; Corporate Governance
• Online Access: http://seaopenresearch.eu/Journals/articles/CMJ2018_I1_8.pdf

Nowadays, more than ever before, the companies are under the watchful eye of the stakeholders. However much energy, effort and also expertise a company brings in order to bear on the risks of the unethical behavior, many surveys have proved that fraud, bribery and also corruption are unlikely to completely disappear. In order to prevent an unethical behavior, companies must be able to identify, investigate and also remediate actions of different individuals who are prepared not to comply with the ethical principles. Ethics is an important aspect formalised through a Code of Conduct within companies, which has the role to articulate the core values and also employees’ behavioural expectations. It is the responsibility of the management to ensure that the personnel follows this code, otherwise it is informed about the penalties that might arise. Ethics is characterized also by transparency, supporting an increase in the trust of people and institutions.