Shareholder Value Perspective and Moral Judgment in Emerging Economies: The Role of Ethics of Autonomy and Ethical Egoism

摘要

Globalization of the world economy and economic reforms in developing countries have led to unprecedented economic growth and prosperity as well as inequities of wealth,environmental degradation,and widespread unethical practices in emerging markets(Javalgi and Russell 2018).In search of explanations for and solutions to the ethical chaos observed in China and other countries,researchers have examined the role of underdeveloped institutional environment(Ghafoor et al.2018),managers'CSR orientation(Wang et al.2018),ethical values(Li et al.2018),and ethical tradition such as Buddhism and Confucianism(Cao el al.2016;Liu and Sten-ing,2016).Nevertheless,a thorough literature review failed to locate any studies that explicitly investigate the impact of ethical egoism or ethics of autonomy,the ethical systems rooted in market ethic.Market ethic has led to dramatic changes in emerging economies and is of ten viewed as a primary cause of the ethical problems observed(Redfern and Crawford 2004).Thus,it is imperative to investigate the impacts on moral decisions of the normative ethics associated with market ethic.The present study aims to answer an important question: How might normative ethics associated with market ethic affect managers'moral judgments about marketing malpractices in emerging economies?