Late Payments and Ethics of Management: Possible Solutions for Local Economies
DOI:
https://doi.org/10.4335/13.3.351-373(2015)Keywords:
legislation, payment discipline, late payments, management ethics, SlovenijaAbstract
European countries have faced the problem of poor payment discipline for many years. Despite legislation adopted in 2000 and 2011, the situation is not improving. Not much empirical research has been done about the causes of low payment discipline, and even the work that has been done has been generally focused solely on the financial reasons. The current research tried to determine whether the payment discipline is affected and influenced by management ethics. The study showed that board’s and senior management’s ethics affects the length of the average payment delay to suppliers. Based on this evidence and prior research in the field of moral judgment, this study developed a package of measures against late payments based on the improvement of the moral judgments of management.
References
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Guariglia, A. & Mateut, S. (2006) Credit channel, trade credit channel, and inventory investment: Evidence form a panel of UK firms, Journal of Banking & Finance, 30(10), pp. 2835-2856, doi: 10.1016/j.jbankfin.2005.11.002.
Haines, R., Street, M. D. & Haines, D. (2008) The Influence of Perceived Importance of an Ethical Issue on Moral Judgment, Moral Obligation, and Moral Intent, Journal ob Business Ethics, 81(2), pp. 387-399, doi: 10.1007/s10551-007-9502-5.
Halter, M. V., Coutinho de Arruda, M. C. & Halter,R.B. (2009) Transparency to Reduce Corruption?, Journal of Business Ethics, 84(3), pp. 373-385, doi: 10.1007/s10551-009-0198-6.
Hawkins, T. G., Lewin, J. E. & Amos, C. (2012) The influence of leader opportunism in B2B exchange, Journal of Business Research, 86(8), pp. 1112-1118, doi: 10.1016/j.jbusres.2011.08.021.
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Intrum Justitia (2012a) European Payment Index 2012 (Stockholm: Intrum Justitia).
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Intrum Justitia (2013) European Payment Index 2013 (Stockholm: Intrum Justitia).
Jansen, E. & Von Glinow, M. A. (1985) Ethical Ambivalence and organizational Reward System, Academy of Management Review, 10(4), pp. 814-822, doi: 10.5465/AMR.1985.4279104.
Jones, T. J. (1991) Ethical decision making by individuals in organizations: An issue-contingent model, Academy of Management Review, 16(2), pp. 366-395, doi: 10.5465/AMR.1991.4278958.
Kaptein, M. (2008) Developing and testing a measure for the ethical culture of organizations: the corporate ethical virtues model, Journal of Organizational Behavior, 29(7), pp. 923-947, doi: 10.1002/job.520.
Kaptein, M. (2011) Understanding unethical behaviour by unravelling ethical culture, Human relations, 64(6), pp. 843-869, doi: 10.1177/0018726710390536.
Kurtines, W. M. (1986) Moral Behavior as Rule Governed Behavior Person and System Effects on Moral Decision Making, Journal of Business Ethics, 50(4), 784-791, doi: 10.1037//0022-3514.50.4.784.
Lebe, S. S. & Vrečko, I. (2015) Eco-labels and Schemes: A Requisitely Holistic Proof of Tourism's Social Responsibility?, Systems Research and Behavioral Science, 32(2), pp. 247–255, doi: 10.1002/sres.2266.
Lee, C. H. & Rhee, B. D. (2011) Trade credit for supply chain coordination, European Journal of Operational Research, 124(1), pp. 136-146, doi: 10.1016/j.ejor.2011.04.004.
Lin, J. Y. & Martin, W. (2010) The financial crisis and its impacts on global agriculture, Agricultural Economics, 41(1), pp. 133-144, doi: 10.1111/j.1574-0862.2010.00495.x.
Litzinger, W. D. & Schaefer, E. T. (1987) Business Ethics Bogeyman: The Perpetual Pradox, Business Horizons, 30(2), pp. 16-21, doi: 10.1016/0007-6813(87)90003-6.
Logsdon, J. M. & Yuthas, K. (1997) Corporate Social Performance, Stakeholder Orientation, and Organizational Moral Development, Journal of Business Ethics, 16(12-13), pp. 1213-1226, doi: 10.1023/A:1005741931995.
Mayer, D. M., Kuenzi, M. & Greenbaum, R. L. (2010) Examining the Link Between Ethical Leadership and Employee Misconduct: The Mediating Role of Ethical Climate, Journal of Business Ethics, 95(SI), pp. 7-16, doi: 10.1007/s10551-011-0794-0.
Markič, M., Likar, B., Meško, M., Rašič, K. & Živković, S. B. (2011) Innovation policy and successfulness of micro and small companies in the Republic of Slovenia, African journal of business management, 5(22), pp. 9559-9567.
McDonald, G. (2000) Business Ethics: Practical Proposals for Organizations, Journal fo Business Ethics, 25(2), pp. 169-184, doi: 10.1023/A:1005939232327.
Meško Štok, Z., Markič, M., Bertoncelj, A. & Meško, M. (2010) Elements of organizational culture leading to business excellence, Zbornik radova Ekonomskog fakulteta u Rijeci, 28(2), pp. 303-318.
Micewski, E. R. & Troy, C. (2007) Business Ethics – Deontologically Revisited, Journal of Business Ethics, 72(1), pp. 17-25, doi: 10.1007/s10551-006-9152-z.
Musek Lešnik, K. (2008) Vrednote, poslanstvo in vizija podjetja (Koper: Fakulteta za management).
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Published
2015-07-31
Issue
Section
Conference Paper (Annual Conference 2020)
