Journal of Business Ethics

, Volume 16, Issue 5, pp 537–543 | Cite as

Business Ethics: A Quantitative Analysis of the Impact of Unethical Behavior by Publicly Traded Corporations

  • Deborah L. Gunthorpe


This study examines whether the financial markets penalize public corporations for unethical business practices. Using event study methodology, it is found that upon the announcement that a firm is under investigation or has in some way engaged in unethical behavior, a statistically significant negative abnormal (excess) return is found. This suggests that firms are indeed penalized for their unethical actions.


Economic Growth Quantitative Analysis Business Ethic Financial Market Unethical Behavior 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© Kluwer Academic Publishers 1997

Authors and Affiliations

  • Deborah L. Gunthorpe
    • 1
  1. 1.University of TennesseeKnoxvilleU.S.A

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