IDEAS home Printed from https://ideas.repec.org/a/kap/jbuset/v112y2013i1p15-24.html
   My bibliography  Save this article

The Role of Corporate Value Clusters in Ethics, Social Responsibility, and Performance: A Study of Financial Professionals and Implications for the Financial Meltdown

Author

Listed:
  • K. Jin
  • Ronald Drozdenko
  • Sara DeLoughy

Abstract

This article delves into a potential mindset that may be responsible for the recent financial meltdown. Research relating to this mindset from different perspectives is reviewed. The findings from this literature review are used to create a conceptual framework for the empirical, ethical, and corporate social responsibility study of financial professionals. Data were collected from a survey of the professional membership of a large national association of financial professionals. This article reports the results of the analysis of data relative to the relationships among the four constructs—financial professionals’ perceived organizational value clusters, ethics, corporate social responsibility, and corporate performance. The findings indicate that organizational core values significantly affect corporate ethics, social responsibility, and financial performance. We propose that organizations in the financial industry can move toward being more ethical and socially responsible by adopting organic core values (e.g., democratic, open, trusting, enterprising, creative, stimulating) and moving away from mechanistic values (e.g., structured, regulated, procedural, authoritarian, closed, callous). We also found the adaptation of organic core values does not require the organization to suffer a loss in financial performance. Copyright Springer Science+Business Media B.V. 2013

Suggested Citation

  • K. Jin & Ronald Drozdenko & Sara DeLoughy, 2013. "The Role of Corporate Value Clusters in Ethics, Social Responsibility, and Performance: A Study of Financial Professionals and Implications for the Financial Meltdown," Journal of Business Ethics, Springer, vol. 112(1), pages 15-24, January.
    • Handle: RePEc:kap:jbuset:v:112:y:2013:i:1:p:15-24
    DOI: 10.1007/s10551-012-1227-4
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s10551-012-1227-4
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s10551-012-1227-4?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. K. Jin & Ronald Drozdenko, 2010. "Relationships among Perceived Organizational Core Values, Corporate Social Responsibility, Ethics, and Organizational Performance Outcomes: An Empirical Study of Information Technology Professionals," Journal of Business Ethics, Springer, vol. 92(3), pages 341-359, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Luu Trong Tuan, 2016. "Organizational Ambidexterity, Entrepreneurial Orientation, and I-Deals: The Moderating Role of CSR," Journal of Business Ethics, Springer, vol. 135(1), pages 145-159, April.
    2. Esben Rahbek Gjerdrum Pedersen & Wencke Gwozdz & Kerli Kant Hvass, 2018. "Exploring the Relationship Between Business Model Innovation, Corporate Sustainability, and Organisational Values within the Fashion Industry," Journal of Business Ethics, Springer, vol. 149(2), pages 267-284, May.
    3. Trong Tuan Luu, 2019. "CSR and Customer Value Co-creation Behavior: The Moderation Mechanisms of Servant Leadership and Relationship Marketing Orientation," Journal of Business Ethics, Springer, vol. 155(2), pages 379-398, March.
    4. Ye Sang & Eunkyoung Han, 2023. "A win‐win way for corporate and stakeholders to achieve sustainable development: Corporate social responsibility value co‐creation scale development and validation," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(3), pages 1177-1190, May.
    5. Dinah Payne & Cherie Trumbach & Rajni Soharu, 2023. "The Values Change Management Cycle: Ethical Change Management," Journal of Business Ethics, Springer, vol. 188(3), pages 429-440, December.
    6. Lu-Ming Tseng, 2019. "How Implicit Ethics Institutionalization Affects Ethical Selling Intention: The Case of Taiwan’s Life Insurance Salespeople," Journal of Business Ethics, Springer, vol. 158(3), pages 727-742, September.
    7. Bilal Afsar & Sadia Cheema & Farheen Javed, 2018. "Activating employee's pro‐environmental behaviors: The role of CSR, organizational identification, and environmentally specific servant leadership," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 25(5), pages 904-911, September.
    8. Imran Shafique & Masood Nawaz Kalyar & Nadia Mehwish, 2021. "Organizational ambidexterity, green entrepreneurial orientation, and environmental performance in SMEs context: Examining the moderating role of perceived CSR," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(1), pages 446-456, January.
    9. André Hoorn, 2015. "The Global Financial Crisis and the Values of Professionals in Finance: An Empirical Analysis," Journal of Business Ethics, Springer, vol. 130(2), pages 253-269, August.
    10. Edward J. Schoen, 2017. "The 2007–2009 Financial Crisis: An Erosion of Ethics: A Case Study," Journal of Business Ethics, Springer, vol. 146(4), pages 805-830, December.
    11. Ying Jiang & Xiaolong Xue & Chris K. Y. Lo & Hengqin Wu, 2019. "Corporate Ethical Responsibility in Management Research: Intellectual Bases, Focus, Salience, and Future," Sustainability, MDPI, vol. 11(8), pages 1-17, April.
    12. Juan J. Nájera-Sánchez, 2019. "A Systematic Review of Sustainable Banking through a Co-Word Analysis," Sustainability, MDPI, vol. 12(1), pages 1-23, December.
    13. Warrick, D.D., 2017. "What leaders need to know about organizational culture," Business Horizons, Elsevier, vol. 60(3), pages 395-404.
    14. Sabrina Scheidler & Laura Marie Edinger-Schons & Jelena Spanjol & Jan Wieseke, 2019. "Scrooge Posing as Mother Teresa: How Hypocritical Social Responsibility Strategies Hurt Employees and Firms," Journal of Business Ethics, Springer, vol. 157(2), pages 339-358, June.
    15. Jelena Spanjol & Leona Tam & Vivian Tam, 2015. "Employer–Employee Congruence in Environmental Values: An Exploration of Effects on Job Satisfaction and Creativity," Journal of Business Ethics, Springer, vol. 130(1), pages 117-130, August.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Edina Molnár & Asif Mahmood & Naveed Ahmad & Amir Ikram & Shah Ali Murtaza, 2021. "The Interplay between Corporate Social Responsibility at Employee Level, Ethical Leadership, Quality of Work Life and Employee Pro-Environmental Behavior: The Case of Healthcare Organizations," IJERPH, MDPI, vol. 18(9), pages 1-16, April.
    2. Ekta Sharma & Ruchi Tewari, 2018. "Engaging Employee Perception for Effective Corporate Social Responsibility: Role of Human Resource Professionals," Global Business Review, International Management Institute, vol. 19(1), pages 111-130, February.
    3. Lee, Eun Mi & Park, Seong-Yeon & Lee, Hyun Jung, 2013. "Employee perception of CSR activities: Its antecedents and consequences," Journal of Business Research, Elsevier, vol. 66(10), pages 1716-1724.
    4. Ghouri, Arsalan Mujahid & Akhtar, Pervaiz & Shahbaz, Muhammad & Shabbir, Haseeb, 2019. "Affective organizational commitment in global strategic partnerships: The role of individual-level microfoundations and social change," Technological Forecasting and Social Change, Elsevier, vol. 146(C), pages 320-330.
    5. Carol Hsu & Jae-Nam Lee & Yulin Fang & Detmar W. Straub & Ning Su & Hyun-Sun Ryu, 2022. "The Role of Vendor Legitimacy in IT Outsourcing Performance: Theory and Evidence," Information Systems Research, INFORMS, vol. 33(1), pages 337-361, March.
    6. Anna Dunay & Abebe Ayalew & Gemechu Abdissa, 2021. "Why Socially Responsible? Determinant Factors of Organizational Performance: Case of Dangote Cement Factory in Ethiopia," Sustainability, MDPI, vol. 13(9), pages 1-23, April.
    7. Pötschke, Ivonne, 2019. "The Ties That Bind: Exploring relationship-oriented values in family firms from employees' perspective," Working Papers 3, Helmut Schmidt University, Research Cluster OPAL.
    8. Yongrok Choi & Yanni Yu, 2014. "The Influence of Perceived Corporate Sustainability Practices on Employees and Organizational Performance," Sustainability, MDPI, vol. 6(1), pages 1-17, January.
    9. Jajja, Muhammad Shakeel Sadiq & Asif, Muhammad & Montabon, Frank & Chatha, Kamran Ali, 2020. "The indirect effect of social responsibility standards on organizational performance in apparel supply chains: A developing country perspective," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 139(C).
    10. Naser Izadinia & Ali Nasr Isfahani & Shahin Nikoo, 2014. "The Relationship between Earnings Management and Social Responsibility, Emphasizing New Paradigms for Accounting - Profit Companies Listed in Tehran Stock Exchange 2007-2012," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 4(1), pages 600-614, January.
    11. Konstantinos Koronios & Athanasios Kriemadis & Panagiotis Dimitropoulos & Andreas Papadopoulos, 2019. "A values framework for measuring the influence of ethics and motivation regarding the performance of employees," Business & Entrepreneurship Journal, SCIENPRESS Ltd, vol. 8(1), pages 1-1.
    12. Michael S. McLeod & G. Tyge Payne & Robert E. Evert, 2016. "Organizational Ethics Research: A Systematic Review of Methods and Analytical Techniques," Journal of Business Ethics, Springer, vol. 134(3), pages 429-443, March.
    13. Ying Jiang & Xiaolong Xue & Chris K. Y. Lo & Hengqin Wu, 2019. "Corporate Ethical Responsibility in Management Research: Intellectual Bases, Focus, Salience, and Future," Sustainability, MDPI, vol. 11(8), pages 1-17, April.
    14. Keling Wang & Yaqiong Miao & Ching-Hui (Joan) Su & Ming-Hsiang Chen & Zhongjun Wu & Tie Wang, 2019. "Does Corporate Charitable Giving Help Sustain Corporate Performance in China?," Sustainability, MDPI, vol. 11(5), pages 1-17, March.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:jbuset:v:112:y:2013:i:1:p:15-24. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.