NILAI ETIS PERUSAHAAN DAN PENGARUHNYA TERHADAP KINERJA PERUSAHAAN (STUDI KASUS PADA PERUSAHAAN MANUFAKTUR DI BURSA EFEK INDONESIA)

Abstract

In this article, we learned about ethical theory. First, Corporate Ethical Index and empirically assess the impact of corporate ethical identity (CEI) on a firm’s financial performance (market-to-book values). Drawing on formulations of normative and instrumental stakeholder theory, we argue that firms with a strong ethical identity achieve a greater degree of stakeholder satisfaction (SS), which, in turn, positively influences a firm’s financial performance. We analyze dimensions of the CEI of firms applied ethics. Our results indicate that whereas applied ethics hasn’t an impact through the improvement of firm performance.