Corporate scandals have been on the rise for the past decade.
In 2019, Strategy& found that for the first time in the history of its annual survey, more CEOs were dismissed forThere has been no shortage of highly publicized scandals, including the BP oil spill in 2010, the Target data breach in 2013 and abuses of financial incentives at Wells Fargo in 2016.
New research from the University of Notre Dame examines how firms are addressing the problem through the language in their public ethics documents. The study reveals the emergence of a new age of increasingly moral—or at least moralized—corporate governance. The team examined 350 S&P 500 firms, comparing their codes of ethics in 2008 versus 2019. The newer versions were much wordier, with notable changes in language.
"The term sustainability saw a huge increase in frequency, along with words like slavery, trafficking, bribery, corruption and bullying," Otteson said."We also saw many new appearances of words like transparent, cybersecurity and transgender.
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