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Entrepreneurial Morality: Some Indications from Greece


  • Bitros, George C.
  • Karayiannis, Anastassios D.


In countries with relatively small firms, entrepreneurial morality is determined by the influences that shape the values, the personality and the character of entrepreneurs as owners and managers of their enterprises. To shed some light on the processes involved we estimate an ordered probit model using data from 1643 enterprises, which were collected in Greece in the spring of 2006. We find that localized and generalized morality, the family and the educational environment, the level of education, the size of firms, and the moral factors that contribute to success in business, determine entrepreneurial morality in a statistically significant way. By contrast, even though we experimented with such other influences as the age of enterprises, the gender of entrepreneurs, the location of schools where they grew up, etc., none of them turned out to exert perceptible impacts.

Suggested Citation

  • Bitros, George C. & Karayiannis, Anastassios D., 2008. "Entrepreneurial Morality: Some Indications from Greece," MPRA Paper 13837, University Library of Munich, Germany, revised 15 Dec 2008.
  • Handle: RePEc:pra:mprapa:13837

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    References listed on IDEAS

    1. Bucar, Branko & Glas, Miroslav & Hisrich, Robert D., 2003. "Ethics and entrepreneurs: An international comparative study," Journal of Business Venturing, Elsevier, vol. 18(2), pages 261-281, March.
    2. Heckman, James, 2013. "Sample selection bias as a specification error," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 31(3), pages 129-137.
    3. George C. Bitros, 2003. "Firm Ownership and Economic Efficiency," Microeconomics 0303002, University Library of Munich, Germany.
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    Cited by:

    1. Throstur Sigurjonsson & Vlad Vaiman & Audur Arnardottir, 2014. "The Role of Business Schools in Ethics Education in Iceland: The Managers’ Perspective," Journal of Business Ethics, Springer, vol. 122(1), pages 25-38, June.
    2. Irene Daskalopoulou, 2016. "Social capital at the outburst of the economic crisis in Greece, 2008-2010," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Eastern Macedonia and Thrace Institute of Technology (EMATTECH), Kavala, Greece, vol. 9(2), pages 79-86, June.

    More about this item


    entrepreneurship; morality; Greece; small-medium enterprises;

    JEL classification:

    • D29 - Microeconomics - - Production and Organizations - - - Other
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

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