Measuring the Quality of Codes of Conduct in Greek Listed Companies

  • Michail NerantzidisEmail author
  • Anastasios Tsamis
Part of the Accounting, Finance, Sustainability, Governance & Fraud: Theory and Application book series (AFSGFTA)


Even though there has been an increasing interest by scholars regarding the importance of corporate codes of conduct (COC) over the last decades, there has also been a rarity of research examining the quality of these codes. This study develops a framework and evaluates the intrinsic quality of such codes in the Greek context. Using data on 22 Greek companies listed on Athens Stock Exchange and according to the COC collected from their Web sites, we found that the average “conduct” rating is 66.51% under the dichotomous method and 63.93% under the PC unweighted method, with this difference being statistically significant. Moreover, we present evidence that the quality is higher in larger companies regardless of the used method for items weighing. All in all, our findings have exciting implications for academics and practitioners.


Index Score Rating Codes of conduct Code of ethics Dichotomous method PC unweighted method 


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© Springer Nature Singapore Pte Ltd. 2019

Authors and Affiliations

  1. 1.Hellenic Open UniversityPatraGreece
  2. 2.Department of Public AdministrationPanteion University of Social and Political SciencesAthensGreece

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