Journal of Business Ethics

, Volume 65, Issue 3, pp 269–278 | Cite as

Managerial Values in the Institutional Context

  • R. Alas
  • J. EnnuloEmail author
  • L. Türnpuu


A comparative study of business related values among business students was conducted over the last 10 years in two neighbouring countries. Although Estonia and Finland are culturally related, according to an empirical study of managerial values, including the ethical values of business students, the two countries display significant differences. During the last decade, Estonia has changed from being a country characterised by an authoritarian, centralized, totalitarian state socialism, to a democratic country with a free market economy and different attitudes and values. At the same time Finland has experienced almost a century of capitalism and democracy. It is argued that the differences in values exhibited by these two countries could be explained by using the institutional and historical context. The authors propose a model of value hierarchies in relation to institutionalism.


business student’s values Estonia ethics Finland institutionalism values 


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Copyright information

© Springer 2006

Authors and Affiliations

  1. 1.Social SciencesEstonian Business SchoolLauteri 3Estonia

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