Due to the growing concern about ethical issues in the
workplace, many organizations have institutionalized ethics in
the form of regulations and codes. For example, international
organizations, such as OECD, UN and WTO, have enhanced their
ethical environments and requirements for economic activities.
Furthermore, in order to encourage companies to do good deeds
the Ethics Round, international movement reinforcing business
ethics has emerged. In the increasingly conscience-focused
marketplaces of the 21st century, Ethics Round aims to regulate
the introduction of products and services into the global market by
unethical companies. Along the same line, the New York Stock
Exchange (NYSE) and NASDAQ tend to list only companies that
have an established formal code of ethics for their organizations
(Paine et al., 2005). It seems that the phrase ‘‘good ethics is good
business’’ has become a common belief (Pettijohn et al., 2008).