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The Deterrent Effects of Ethics Codes for Corporate Crime: a Meta-Analysis

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The Deterrent Effects of Ethics Codes for Corporate Crime: a Meta-Analysis ABSTRACT Title of Document: THE DETERRENT EFFECTS OF ETHICS CODES FOR CORPORATE CRIME: A META-ANALYSIS Natalie Marie Schell-Busey, Ph.D., 2009 Directed By: Dr. Sally Simpson, Criminology and Criminal Justice The current financial crisis, brought on in part by the risky and unethical behaviors of investment banks, has drawn attention to corporate crime, particularly on the issue of how to prevent it. Over the last thirty years, codes of conduct have been a cornerstone of corporate crime prevention policies, and consequently are now widespread, especially among large companies. However, the empirical literature is mixed on the effectiveness of codes, leaving them open to critics who charge that codes can be costly to implement, ineffective, and even criminogenic. In this dissertation I use meta-analysis to examine the evidence regarding the preventative effects of ethics codes for corporate crime. The results show that codes and elements of their support system, like enforcement and top management support, have a positive, significant effect on ethical-decision making and behavior. Based on these results, I propose an integrated approach toward self-regulation founded on Braithwaite’s (2002) enforcement pyramid, which specifies that regulation should primarily be built around persuasion with sanctions reserved for situations where a stronger deterrent is needed. THE DETERRENT EFFECTS OF ETHICS CODES FOR CORPORATE CRIME: A META-ANALYSIS By Natalie Marie Schell-Busey Dissertation submitted to the Faculty of the Graduate School of the University of Maryland, College Park, in partial fulfillment of the requirements for the degree of Doctor of Philosophy 2009 Advisory Committee: Dr. Sally Simpson, Chair Dr. Doris MacKenzie Dr. Cheri Ostroff Dr. Ray Paternoster Dr. Lee Preston Dr. David Wilson © Copyright by Natalie Marie Schell-Busey 2009 Acknowledgments I would definitely not be where I am today without the unconditional love and support of my family. First, I must thank my mom and dad, Donna and Tim Schell, for instilling in me a passion for learning; without that trait this laborious path would have been unimaginable. Thank you for all the summer trips across the country and the many books along the way that inspired the joy of exploration and knowledge. I feel truly blessed when I think of my childhood and the two amazing role models I had growing up. I cannot wait to pass these things along to Wyatt! Thank you for loving me and challenging me, and thank you for all the words of encouragement along the way. I also want to thank my sister, Casey, for the many long distance phone calls over the years; thank you for always being there for me and talking me through those moments of self-doubt. There are many things I am grateful for, but having a sister who is also my best friend is right at the top of this list! Thanks to my brother, Ty, for providing some great tunes for relieving stress; “Distance” and “I’m Feeling Down” got me moving on the treadmill and gave me focus…keep rocking, Fetti! Most importantly, I have to thank my husband, Dan, for his love, support, and patience over the years. I could not ask for a better partner in life. You have been amazing throughout this process; you put up with the stressed-out, crazy me in the most loving way imaginable. You voluntarily picked up the slack around the house in the weeks before comps where I didn’t move from the couch, and when I needed a sugar boost, you made much appreciated late-night runs for ice cream. You were my sounding board when I needed to bounce ideas off someone, and you were the ii shoulder I cried on when I was completely fed up with this process. You endured years of providing essentially the sole income without a word of complaint, and you were my tech support when I wanted to fling my computer across the room. In fact, Figures 3-17 would not exist without your help. There is no way I could have done this without you by my side. I love you and am so excited for the next chapter of our life together! Thanks must also go to Dr. Sally Simpson, my chair, mentor, boss, and advisor. I have learned so much from you that it is impossible to sum up my gratitude here. When I think back to my first year at Maryland, I cannot believe how much I have grown as a person and a scholar, and it has been in great part because of you and your guidance over the years. This has been a long road, and you have been there every step of the way cheering me on. You coached me through the aftermath of a disastrous first presentation and did not stop believing in me. You challenged me to take a leadership role in some exciting research projects, and you encouraged me to try teaching when my nerves wanted to get the best of me, which allowed me to discover a new passion. Your ability to successfully juggle all your roles in life is an inspiration; you are truly a role model. It has been an honor working with you. Thank you for everything! I also want to thank the other member of my committee: Dr. Doris MacKenzie, Dr. Cheri Ostroff, Dr. Ray Paternoster, Dr. Lee Preston, and Dr. David Wilson. Thank you all for your time and your contributions to my dissertation. I am so thankful to have had your guidance on this immense undertaking. I have to give special thanks to Dr. Wilson for his direction on meta-analysis; I greatly appreciate iii your willingness to serve on my committee despite being at another university. Thank you for tolerating my many emails and answering all my questions. These acknowledgments would not be complete without mentioning my best friends and fellow graduate students, Christina Yancey and Amanda Cross. I was so lucky to meet you both my first year of graduate school at Maryland and have you with me every step of the way since then. If I did not have you to commiserate with, I am not sure I would have made it. You have provided the laughs and good times that kept me sane and made this process easier. Thank you for the nights out, the dancing, the trips to Myrtle Beach, Sarasota, and Miami, the phone conversations, the dinners, the shopping, and the study groups where we ended up having a lot more fun than we should have. It has been a blast, ladies! Finally, I also want to thank Dr. Neil Vance for introducing me to the topic of Criminology as an undergraduate at the University of Arizona. Your classes were fun and challenging, and you made me want to be a professor in this field. Thank you! iv Table of Contents Acknowledgments.....................................................................................................ii Table of Contents ......................................................................................................v List of Tables ...........................................................................................................vi List of Figures .........................................................................................................vii Chapter I: Introduction ..............................................................................................1 Chapter II: Literature Review .................................................................................. 16 History of Codes of Conduct ............................................................................... 16 Prevalence of Codes of Conduct .......................................................................... 19 Attitudes Toward Codes of Conduct .................................................................... 20 Theoretical Background....................................................................................... 21 The Rest (1986) Ethical Decision-Making Model ................................................ 32 Formation of Judgments, Intentions, and Behaviors............................................. 33 The Jones (1991) Ethical Decision-Making Model .............................................. 36 Empirical Support................................................................................................ 43 Organizational Decision-Making ..................................................................... 44 Individual Decision-Making ............................................................................ 48 Hypotheses.......................................................................................................... 58 Chapter III: Sample and Methodology..................................................................... 62 Identification of Studies....................................................................................... 62 Coding the Studies............................................................................................... 67 Moderator Variables............................................................................................ 69 Dependent Variables: Calculating Effect Sizes .................................................... 73 Statistical Procedure ............................................................................................ 77 Chapter IV: Results ................................................................................................. 81 Description of Eligible Studies ............................................................................ 81 Overall Mean Effect Sizes Across Studies ........................................................... 84 Meta-Analytic Analog to the ANOVA Models .................................................... 98 Chapter V: Discussion & Conclusion ...................................................................
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