Studies on Business Administration and Management and ethical and social values Mercedes Ruiz-Lozano, Araceli de los Ríos-Berjillos, Pilar Tirado-Valencia, Salud Millán-Lara Professors, Business Management and Quantitative Methods Department, School of Economics and Management Science, ETEA, University of Córdoba, Córdoba, Spain c/ Escritor Castilla Aguayo, 4, 14004, Córdoba (Espa) mruiz@etea.com, arios@etea.com, ptirado@etea.com, smillan@etea.com Studies on Business Administration and Management and the ethical and social values Keywords: Values, higher education, research JEL codes: A13, A23 Abstract: The authors have researched the values and the changes to them in the students during their time of study on Business Administration and Management To analyze the impact of the training process in this identification were compared through factor analysis, the results of a survey of students in the first and final session of the Faculty The study derived the following conclusions: first, that students bring a value-oriented education that is consolidated and strengthened after the training process, and secondly, that the set of values that are identified could be classified in moral values and values related to decision making action-oriented The results of this research work will help to review the competences established in degrees and in the different courses, and will also help to establish better mechanisms so that the University can become an instrument of social transformation I TRODUCTIO The University has at least three functions: educational, social and knowledge generating Carrying out these functions involves a social transformation due to the influence it has on students and society in general, which then promotes a series of values The creation of the European Higher Education Area (EHEA), through the Bologna Declaration (1998) and the subsequent communiqués on this matter, have lead to a European university reform that requires all higher education centres and their study programmes to establish the competences and objectives needed to “help students get a university education that joins basic cross curricular knowledge related to their education as a whole with specific knowledge and skills needed for their working life” (Royal Decree 55/2005, p 2842) The mission of the institutions of the Society of Jesus is to provide their students with integral education and promote constant research and professional excellence within the social and cultural context of every country This means that the different courses organised for 45 years at the Faculty of Economic and Business Sciences - ETEA, a university institution of the Society of Jesus, have always aimed at providing integral education that includes the compulsory or optional subject “Business Ethics” and other free-electives as a complement and to develop ethics and social values Research is currently been done on the values of today’s society and values that have to be promoted, which is an issue that the Society’s Superior General emphasises in all his public speeches given at universities The Management and Business Administration studies at ETEA are intended to promote and instil these values in different ways But the students really consider them in the same way? Are the students´ impressions and evaluations different after having actually completed the courses? First and final year students have been interviewed in order to answer these questions and to analize in greater detail how the work of the University has promoted ethics and social values The results of this research work will help to review the competences established in degrees and in the different course material covered, and also help to establish better mechanisms so that the University can become an instrument of social transformation RELATED LITERATURE This study has helped to analize the current debates and discussions about the word “value” which is assessed from three basic points of view: the ethical-philosophical dimension, the economic dimension and the psychological dimension It is not however intended to be a bibliographical review of the word, instead it aims at identifying the basic concepts to be considered and what has guided the study A classic definition of “value” from Milton Rokeach (1973): “A conviction or firm belief in time that a certain way of behaving or an end-state of existence is personal or socially preferable to the opposite mode of behaviour or opposite end-of state existence” The father of American humanism Maslow (1991) also defined values, and tried to analize the humanistic and personal side of psychology, which lead him to develop the so-called needs of a human being, self actualization and development These needs are fulfilled by taking into consideration a series of values which he summarised into eight: realism, acceptance, spontaneity, intimacy, independence, optimism, humility and creativity Different theories have identified an axiological problem, namely, whether the value lies in the human being or outside them, which means, whether the human being creates a value or discovers it According to Aristotle (2000, 160) there are two types of virtues, dianoethics and ethics The former originates and basically grows through education This requires certain experience and time to be able to put what is learnt into practice, whilst ethics come from habit So none of the virtue ethics produced in humans are natural, but are acquired through education and moreover, through practice which is then consolidated through behaviour This need for ethics is satisfied by identifying the objectives of higher education centres: sharing knowledge, qualifications to get a job and socialization, which means, education to make the student socially responsible This last function implies that the school transmits values In this way the individual, through education, absorbs values to become humanized Different types of values are produced when the different aspects of the human are analized: physical values, intellectual values, affective values, moral values, social values, ecological values, etc Different studies on value classification have been done, one that is worth mentioning from Spain is the Axiological Model of Integral Education proposed by Gervilla (2000) that has been used as a reference point to define education policies and carry out studies on the concept of values at a compulsory education level These have identified the importance of getting a clear definition of the values in the mission and outlook of the schoolsi so that they are used as a benchmark in all pedagogical work In any case value appreciation means that humans want to have all of them or at least as many as possible, which is why the concept of integral education refers to all dimensions of the individual’s education, that have been acknowledged and assessed by all types of educational ideals, laws and rules and it is one of the main pedagogical pillars of the Society of Jesus university institutions We agree with Tort, (2000, 253), that values are not relative; they not depend on the subject, the object, the time or place They are relational, which means, that they are in constant interaction with the subject’s self esteem, the objective ideal and the context (place, time and circumstances, etc.) Therefore value in its real terms exists when triangulation occurs among these factors This shows us how important and influential society is in terms of development and globalization, and even more so, on the evolution and definition of these values Nowadays teaching values for the family, school and civil society as a whole is a real challenge, one which does not just depend on the influence that higher education centres could and must have Nevertheless, the current crisis and the different financial scandals that have in general come to light all over the world especially in Europe, have emphasised and strengthened the role of educational institutions in transmitting values In this way the university reform brought on by the current European Higher Education Area process has coincided with the different international institutions demanding that they also take on and accept their important role in teaching leaders about values This is documented in the London Communiqué (2007) and in the Leuven and Louvain-la-Neuve Communiqué (2009), that recognise the role of higher education institutions in defining and transmitting values which have been used as the foundations of our societies, for which they state that “the higher education policies must focus on increasing the potential of individuals to a maximum in terms of their own personal development and contribution towards a sustainable democratic society, based on knowledge”, which include having the specific ethic competences to so Along the same lines the Superior General of the Society (2009, 10) says that the Jesuit education does not set small goals but rather it has one huge ideal, “to help our students to fully develop and grow as individuals, that leads to action, Man for others”, and he claims that this means the following values have to be promoted in university studies: universality, internationalization, attitude of change with the future in mind, willingness to listen and cooperate, shrewdness, analytical and creative capacity and many others In his latest public talks he has stressed that the main objective of the Jesuit institutions is to provide “integral education” that emphasizes “spiritualism and transcendence”, to produce “this endless transformation (of reality and of the individual)” He points out that in this process imagination has to be instilled as a creative ability so that students can see for themselves The Superior General points out the fact the Ignatian congregation cannot attain its objectives by itself, especially if its goals are understood to be the same as those of mankind, so the University must work together with the institutions and organisations with which it coexists so that the needs of society can be identified for education and research to focus on Fulfilling this mission during a process of change like the European Higher Education Area (EHEA) has made universities and higher education centres of the Society in Spain draw up guidelinesii on how to implement the identity and mission within this new context The guidelines focus on integral education of the individual that considers four dimensions: Practical dimension “Utilitas”, Civic dimension –social or ethical-political – “Iustitia”, Humane-personal dimension “Humanitas” Religious dimension “Fides” It must be taken into account that nowadays in different organisations in society there is a need to consolidate values These values are becoming increasingly more important so that entities can identify themselves with their stakeholders Companies have to incorporate social responsibility and sustainability concepts into their management so as to operate on global markets, which means that they need talented leaders with ethics This need has produced the “Principles for responsible management education”, an initiative from the United National Global Compactiii, in which the signatory organisations agree to incorporate global social responsibility values that are described in international initiatives like that of the UN Global Compact, in their academic activities and study programmes and also acknowledge that their own organisational practices must be used as an example of values and attitudes that are transmitted to their students The values that are promoted are therefore, sustainability and everything else related to Social Responsibility However values have been an important part of business studies for a long time In 1973 the third Davos management forum had already proposed a code of ethics for business management that included tasks like helping consumers, workers, capital and society and harmonise their antagonistic interests (Küng, 1999) If students are to perceive these objectives education has to be based on the existence of values that are finally understood when the student starts working Normally is it believed that values that are promoted by ethical leaders are transformed through example and rules in ethical management (behaviour codes, codes of ethics, implementing policies, etc) Different studiesiv have proved that the management’s philosophy of ethics and values has a huge impact on the quality of workers´ ethics (Stead et al., 1990; Wimbush et al., 1997), on the company’s social work (Anisya and Simerly, 1994), and on the organisation’s evaluation of the managers´ ethics (Rubin et al., 2010) Hall (1998) states that successful organisations nowadays are based on values like respect, listening and sharing with others These organisations are also capable of integrating traditional values such as efficiency, productivity and achievement Others like Fernández de Tejada et al (2007) say that values needed by an ethical leader are: courage, restraint, generosity, magnificence, magnanimity, gentleness, kindness, sincerity, wit, distributive and corrective justice As Maslow says the problem is that a lot of evil in the world nowadays is due to the fact that not enough attention is paid to these values that are high up of his hierarchy of needs, as other basic needs are not satisfied Different sources of information have shown that the current crisis is a result of the lack of leadership and corporate responsibility and in particular, the existence of counter-values such as irresponsibility, greed, egoism, arrogance, etc The question that was asked was: what type of education did these leaders get? As aforementioned the value analysis is affected by the education given to young people and by the characteristics of the society in which they live To that effect according to the analysis of J Elzov (2004, 6) our young people, and in particular our current students, “have had a sweet childhood, they have been over protected, with more material resources than adolescents and young people have ever had before in our society, but at the same time nobody has told them or taught them about how important self-sacrifice is to be successful, … about self-responsibility” In view of this situation he suggests some values that should be advocated to be implemented and transmitted through education: rationality, personal ability, active tolerance, solidarity, spirituality and the utopia for a better society What concerned us was the outset of young people who choose to study at our institution to get their university education and what effect does spending at least four years in the classrooms have on them, as they are our future leaders This is a study that will hopefully progress so that the relationship between these values and the skills that are developed with the courses available can be assessed, and also so that the possible differences that could exist among students from our institution and those from other centres can be analized RESEARCH METHOD The objective of the empirical study is to analize the values and the changes to them in the students during their time at ETEA - Faculty of Economic and Business Sciences, which is attached to Cordoba University, from when they start University right up to the final year of their degree Factor analysis is the method used This type of analysis helps to identify unobservable or latent relationships among the original variables, by reducing them into a smaller number of variables or factors that form a linear combination of the original variables Joining a group of variables in one factor is possible due to the existence of a relationship among variables that can not be seen directly In short the value given to a variable, for example, the value that a student gives “responsibility” shows another factor that is not directly observable that is shared by other variables from the study which are therefore grouped together For this reason, the variables that are grouped together in one factor have something in common; this unobservable joint meaning is what has to be interpreted for each of the factors obtained, as it is the most important part of the study Sample selection and variable definition The population is made up of students in first and final year courses at ETEA – The Faculty of Economic and Business Sciences As aforementioned, the student has already been taught values, which at this new stage of their training have to be backed, promoted, developed and guided towards their professional career; that is why the analysis of the first year students was suggested in order to be able to determine their outset and then later on analize students in the 5th year to be able to identify any possible effects that the education process has had on them The total number of first year students is 348 whilst the number in the final and fifth year is 160; 316 students participated in the interview out of which 175 are studying in the first year and 141 in fifth year The sample size was designed for a 95% level of confidence The maximum error rate of the estimates that could be made with the data from the samples is 1.2% The table contains data that helps to distinguish the sample; the students were asked to identify the type of school (state or private) where they studied before going to University, to see if there was any type of difference in the values that they been taught beforehand By chance the percentage of students that answered the survey and who studied at state schools is the same as those who studied at private schools Table The objective of the study is not easy to measure directly, which is why indirect measurements that are related to the objective are applied These indirect measurements are a group of twelve variables that have been chosen from the bibliographical review and, in compliance with the competencies included in the White Paper of the Studies on Business Administration and Management that are included in table In any case given Weber’s analysis “…what becomes the object of research and how far the investigation extends into the infinity of causal connections is determined by the value ideas.” (Weber, 73) In general, education is based on four pillars (Delors Report, 1996, 75-85): learning to know; learning to do; learning to live together; learning to be The suggested values concern the last two Learning to be, as Savater pointed out (1999, 21), man is born a man, but he has to become man, and that is why the socialization process is needed, which in turn requires the support of the other pillar, learning to coexist This means that the individual needs integral education to make us aware of the surrounding reality, a reality that is currently affected by the globalization process that has to involve defining the concept of sustainable human development If the aforementioned mission and identity approach is taken into account the established analysis covers the following dimensions: Humanitas and Iustitia Each student was asked to state, on a scale of to 5, the importance they give to each one of these variables (table 2) according to their value scale, being of “minimum importance” and being of “maximum importance” Table The factor analysis Although the factor analysis is quite a well known and distinguished technique, please consult Rencher (2002) or García and Gil (2000) The different stages of how the technique is applied are summarised below so that it easier to interpret the analysis of the results obtained The first stage consists of calculating how suitable the factor analysis application is for the data sample The size of the sample must be defined beforehand The sample should include at least 50 entries and it would be better if it has around one hundred or more Some writers state that at least ten observations must be made for each original variable and that the number of variables does not exceed half the total sample size Given that the number of variables is 12 and that the sample is made up of 316 answers, the requirements established are more than satisfied To identify the suitability of the factor analysis, firstly the bivariate or partial correlation matrix is studied One of the requirements that it must fulfil is that the variables are highly correlated The existence of correlations between the variables would mean that there are interrelations between them and therefore, they can be condensed into a smaller number of factors by applying this technique If the correlations between the variables are null, the variables would not be related, so there would be no point in carrying out a factor analysis; there would be no point in applying this technique either if the correlations were very high as this would mean that the variables would be the same Tables and of the annex show the values obtained for the correlations among the 12 variables of the study First year students are distinguished from fifth year students; the values obtained are, in many cases, significant even though they are not very high, which confirms that the data is suitable for the selected methodology Secondly, the suitability of applying this technique will be analized by means of the Kaiser-Meyer-Olkin (KMO) measure of sampling adequacy and Bartlett's test of sphericity Having identified the suitability of using the factor analysis, the second stage consists in applying it, strictly speaking, in obtaining the factors This study is not based on a hypothesis about the number of factors or about the number of variables that could be grouped into a factor, which is why one of the points to be assessed at this stage is the number of suitable factors needed to represent the underlying structure in the data Different methods can be used for this although we have focused on the percentage of the total variance given by the factors The third stage consists of interpreting the factors obtained; this is the most important part of the analysis where the researcher must use their knowledge to explain the results obtained If a simple interpretation of the factors cannot be obtained with the initial answer, they can be rotated so that each of the variables has a close correlation to with a factor and close to with the other factors RESULTS 316 interviews were collected; the number of entries is therefore perfect to be used with the factorial analysis, given the aforementioned criteria All the estimates have been made using the Statistical Package for the Social Sciences (SPSS) The descriptive statistics contained in table were obtained from the univariate analysis of the twelve variables chosen The coefficient of variation is an indicator of the sample’s greatest and smallest homogeneity The values obtained in terms of percentages enable us to affirm that there are not any significant differences between the scores that the students gave the different variables, which means, that the sample is indeed homogeneous The 6th Variable “Internationalization” is the variable that has the most heterogeneous answers and this is also the variable that has the lowest mean value Whilst the most homogeneous variable is the 1st variable “Responsibility” which is also the variable that has the highest mean value together with “Respect” Table The table provides an in-depth study of the previous analysis by distinguishing between the mean values and the standard deviation according to the different categories identified in the survey, men and women, year (first or fifth) and school of origin (state or private) The most important details from the second analysis include: • The mean scores given by women are equal to or greatervi than the mean scores given by men, in all the variables • The mean scores given by fifth year students are greater that the mean scores given by first year students, except in variable V8 “Equality” where they coincide • The mean scores given by students coming from private schools are greater than the mean scores given by students from state schools, except in the variable V1 “Responsibility” where the mean score is somewhat lower for the students from private schools, although the standard deviation is noticeably less, and for variable V8 “Equality” the mean score given by students from state schools is greater and the standard deviation is lower Table Results from the first year students Apart from the aforementioned correlation analysis, to determine whether it is advisable to reduce the characteristics of the information contained in the variables described by means of the construction factors, a series of a priori or convenience tests are carried out on reducing the characteristics of the available data The first test carried out is the Bartlett's test of sphericity, the critical level of 0.000 (Sig.) in table 5, shows that the null hypothesis is rejected which means that the variables analized have or maintain some type of correlation relationship and therefore, can be useful when carrying out a factor analysis Table The Kaiser-Meyer-Olkin statistical measure was the second test carried out It also considers the factor analysis to be acceptable as the aforesaid statistical value was greater than 0.5 The total variance percentage of the data explained by the three factors obtained is shown in table The selected factors explain 52.559% of the information contained in the twelve original variables selected Table The unrotated factor solutions obtain the objective of reducing the data although they not provide information that properly explains the variables examined The best interpretation is obtained from the direct results concerning the rotated factor solution (table 7); the rotation is advisable because it simplifies the structure of the factors and theoretically makes them more meaningful and easier to interpret The interpretation is based on factorial loads that are used to identify the invisible or latent relationships among the variables that are grouped together or that are loaded in a factor These factorial loads concern the correlations between each variable and the factor The objective at this stage is to examine the characteristics of the variables associated to a factor, in order to determine common features that allow the factor to be identified and name it or understand how it responds to these common features Table In table the variables that are loaded in each factor are marked in bold face, and we can see that: a) The first factor is made up of the following variables: V3 solidarity, V4 respect, V5 loyalty, V8 equality, V10 honesty and V11 tolerance b) The second factor is made up of the variables: V1 responsibility, V2 ability to think and V7 veracity 10 making and action to be inseparable and undivided This means that decision making aims at action that in terms of this study is based on two variables; proactiveness and internationalization This conclusion made from the study is confirmed when the same study is carried out on other categories of the sample (gender and centre of origin) and this change is not detected, which means that part of this change can be attributed to the education process and not to other factors or categories from the sample Indirectly we have proved that the students´ education process at the University provides them with certain behaviour models that are different to the ones they have on starting University and which can be put into practice when they start their own professional career However, as aforementioned, integration into one single decision making and action factor can also be due to other variables that have not been considered in the study, such as, the individual’s maturity at that time Although in a sense it must be stressed that education is somewhat transactional, which means, that there is an exchange between the subject and their surroundings, which is why depending on how the subject behaves, stimulus may or may not help their personal development The conclusions from this study also support the claims made by Leticia Barba (1996) who points out that education not only has to be integral but also all-inclusive which means that education must provide the individual with a better situation than what they had before studying, which includes adding greater values We believe that the results obtained are a consequence of all the activities organised at the Institution up to now Work on this has been done for several years Together with offering courses like business ethics there are other optional courses concerning the Society’s university mission, that include: “Perspectiva cristiana de persona y personalidad” (The Christian perspective of the person and personality”), and “Ética: Pensamiento Social Cristiano” (Ethics: Christian Social Thinking)” Team work, experience from worker cooperativesvii, integrating new methodologies to develop competences (Ruiz et al., 2009), where students learn from each other, they evaluate themselves and their classmates, are just a few examples of the activities that are organised to focus on values Participation in other ventures organised by the Institution and the ETEA Foundation for Development is also important Nevertheless the task of how to conceptualize management practices that can be used as an example for students is still pending At the moment these practices can only be discovered by students actually taking part in the Institution’s different governing boards, which means that this group has very little impact The Institution’s commitment to initiatives such as “principles for responsible management education - PRME” is essential, the inclusion of social responsibility in its management, and writing reports on sustainability is a way to help and promote transparency and foment values of the educational community At the same time all the methodologies must be adapted, to update and innovate teaching so that it incorporates the process of transmitting and consolidating values Finally we would like to stress the need to continue this work by comparing results obtained from the graduates´ opinions Furthermore as progress is made in introducing new diplomas and 14 qualifications the extent to which the competencies defined in the qualifications are developed and their impact on the values will be assessed, which is why we intend to continue with this line of study 15 Table Characteristics of the sample data Men Women First year Fifth Year State schools Private schools 149 167 175 141 158 158 47.2% 52.8% 55.4% 44.6% 50% 50% Total % out of the total Table Study variable V1 Responsibility V7 Veracity V2 Ability to think V8 Equality V3 Solidarity V9 Proactiveness V4 Respect V 10 Honesty V5 Loyalty V 11 Tolerance V6 Internationalization V 12 Service attitude Table Descriptive Statistics Variables Mean Standard deviation Coefficient of variation V1 Responsibility 4.46 0.696 15.61% V2 Ability to think 3.90 0.743 19.05% V3 Solidarity 3.83 0.883 23.05% V4 Respect 4.46 0.770 17.26% V5 Loyalty 4.11 0.887 21.58% V6 Internationalization 3.57 0.962 26.95% V7 Veracity 3.95 0.805 20.38% V8 Equality 4.12 0.885 21.48% V9 Proactiveness 3.70 0.821 22.19% V 10 Honesty 4.29 0.800 18.65% V 11 Tolerance 4.04 0.853 21.11% V 12 Service attitude 3.94 0.910 23.10% 16 Table Descriptive statistics per category Men Women First year Fifth year State Private Mean Standard deviation Mean Standard deviation Mean Standard deviation Mean Standard deviation Mean Standard deviation Mean Standard deviation Responsibility 4.3 0.79 4.6 0.56 4.4 0.72 4.5 0.66 4.5 0.72 4.4 0.67 Ability to think 3.8 0.83 4.0 0.63 3.8 0.76 3.9 0.71 3.9 0.74 3.9 0.74 Solidarity 3.7 0.85 3.9 0.89 3.7 0.84 4.0 0.90 3.7 0.87 3.9 0.89 Respect 4.3 0.77 4.6 0.75 4.4 0.79 4.5 0.74 4.4 0.82 4.5 0.72 Loyalty 4.2 0.87 4.1 0.90 4.1 0.81 4.2 0.97 4.1 0.91 4.1 0.86 Internationalization 3.4 1.05 3.7 0.85 3.5 0.95 3.7 0.97 3.4 0.93 3.7 0.98 Veracity 3.9 0.79 3.9 0.82 3.9 0.79 4.0 0.81 3.9 0.81 3.9 0.80 Equality 3.9 0.88 4.3 0.86 4.1 0.82 4.1 0.97 4.2 0.85 4.1 0.92 Proactiveness 3.6 0.78 3.8 0.85 3.6 0.83 3.8 0.80 3.7 0.81 3.7 0.83 Honesty 4.3 0.79 4.3 0.81 4.3 0.72 4.2 0.89 4.3 0.81 4.3 0.79 Tolerance 3.9 0.85 4.2 0.83 3.9 0.79 4.1 0.92 4.0 0.87 4.1 0.84 Service attitude 3.9 0.93 3.9 0.89 3.8 0.88 4.1 0.93 3.9 0.96 3.9 0.86 Total answers 149 167 175 141 158 158 Table Kaiser-Meyer –Olkin (KMO) and Bartlett’s tests - first year students Kaiser-Meyer-Olkin (KMO) measure of sampling adequacy Bartlett's test of sphericity Approximate chi-square distribution gl Sig 0.804 456,229 66 0,000 17 Table Table of the total variance explained - first year students Factor Initial Self-value % of the variance Total Extraction Sums of Squared Loadings % accumulated Total % of the variance % accumulated Rotation Sums of Squared Loadings Total % of the variance % accumulated 3.762 31.350 31.350 3.762 31.350 31.350 2.666 22.219 22.219 1.371 11.423 42.773 1.371 11.423 42.773 1.904 15.870 38.089 1.174 9.785 52.559 1.174 9.785 52.559 1.736 14.470 52.559 918 7.647 60.206 845 7.038 67.244 770 6.414 73.657 698 5.814 79.472 647 5.388 84.860 521 4.340 89.200 10 487 4.058 93.258 11 427 3.558 96.816 12 382 3.184 100.000 Table Rotated factor matrix - first year students Factors Variables V1 Responsibility 0.104 0.752 0.108 V2 Ability to think 0.019 0.809 0.248 V3 Solidarity 0.571 0.430 0.047 V4 Respect 0.744 0.199 -0.058 V5 Loyalty 0.548 0.418 0.016 V6 Internationalization 0.183 0.199 0.667 V7 Veracity 0.374 0.433 0.173 V8 Equality 0.502 -0.036 0.350 V9 Proactiveness -0.097 0.124 0.783 V10 Honesty 0.718 0.109 0.112 V11 Tolerance 0.687 -0.103 0.375 V12 Service attitude 0.227 0.137 0.542 18 Table Kaiser Meyer Olkin and Barlett tests - fifth year students 850 Kaiser-Meyer-Olkin (KMO) measure of sampling adequacy Bartlett's test of sphericity Approximate chi-square distribution 529.982 gl 66 Sig .000 Table Table of the total variance explained - fifth year students Factors Initial self-value Total % of the variance Extraction Sums of Squared Loadings % accumulated Total % of the variance % accumulated Rotation Sums of Squared Loadings Total % of the variance % accumulated 4.590 38.251 38.251 4.590 38.251 38.251 3.869 32.246 32.246 1.307 10.889 49.139 1.307 10.889 49.139 2.027 16.894 49.139 952 7.930 57.069 917 7.638 64.707 851 7.088 71.795 732 6.104 77.899 651 5.428 83.327 507 4.227 87.554 473 3.946 91.499 10 381 3.173 94.673 11 327 2.729 97.401 12 312 2.599 100.000 19 Table 10 Rotated factor matrix - fifth year students Variables Factors V1 Responsibility 0.361 0.483 V2 Ability to think 0.098 0.698 V3 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Aires, Ed.Amorrortu Wimbush, J.C.; Shephard, J.M and Markham, S.E (1997), An empirical examination of the multi-dimensionality of ethical climate in organisations Journal of Business Ethics, 16: 67-77 23 A EX Table Correlation coefficient values obtained: first year students V1 V1 V2 Pearson’s correlation coefficient Sig (bilateral) V2 Pearson’s correlation coefficient Sig (bilateral) V3 Pearson’s correlation coefficient Sig (bilateral) V4 Pearson’s correlation coefficient Sig (bilateral) V5 Pearson’s correlation coefficient Sig (bilateral) V6 Pearson’s correlation coefficient Sig (bilateral) V7 Correlation de Pearson Sig (bilateral) V8 V3 483** V4 231** V5 266** V6 211** V7 205** V8 V9 309** 143 002 000 005 006 000 058 134 021 036 007 158* 288** 256** 269** 138 260** 141 118 216** 000 037 000 001 000 068 001 062 120 004 ** ** ** ** ** 057 ** ** 241** 000 ** 231 ** 381 002 000 266** 158* 431** 000 037 000 211** 288** 442** 431 442 243 259 294 000 001 001 000 453 000 000 001 358** 198** 286** 271** -.009 401** 450** 129 000 008 000 000 903 000 000 088 212** 317** 185* 099 441** 227** 231** 358** 005 000 000 000 205** 256** 243** 198** 005 000 014 193 000 003 002 271** 225** 326** 164* 285** 297** 212** 006 001 001 008 005 309** 269** 259** 286** 317** 271** 000 000 001 000 000 000 138 ** ** * ** 225 030 000 000 180* 350** 226** 103 001 017 000 003 177 * ** ** 149* 239 ** 068 000 000 014 003 001 057 -.009 099 326** 180* 160* 134 Sig (bilateral) 185 000 239** 260** Pearson’s correlation coefficient 271 003 114 Sig (bilateral) V12 294 000 058 160 245 001 000 049 100 172* 222** 188 023 003 ** 270** 001 453 903 193 000 017 035 141 ** ** ** * ** ** 021 062 000 000 000 030 000 001 188 159* 118 309** 450** 227** 285** 226** 371** 172* 334 401 441 164 350 371 035 * 175 309 Pearson’s correlation coefficient Pearson’s correlation coefficient 334 000 143 Sig (bilateral) V11 202** 381** Pearson’s correlation coefficient Pearson’s correlation coefficient V12 159* Sig (bilateral) V10 V11 175* 000 483** Sig (bilateral) V9 V10 114 245 100 431 000 431** 000 276** 036 120 000 000 003 000 003 000 023 000 202** 216** 241** 129 231** 297** 103 149* 222** 270** 276** 000 007 004 001 088 002 000 177 049 003 000 000 ** The correlation coefficient is significant at 0.01 (bilateral) * The correlation coefficient is significant at 0.05 (bilateral) 24 A EX Table Correlation coefficient values obtained: fifth year students V1 V1 V2 Pearson’s correlation coefficient Sig (bilateral) V2 Pearson’s correlation coefficient Pearson’s correlation coefficient Pearson’s correlation coefficient * 216 Pearson’s correlation coefficient Pearson’s correlation coefficient Pearson’s correlation coefficient Pearson’s correlation coefficient Pearson’s correlation coefficient Pearson’s correlation coefficient Pearson’s correlation coefficient Pearson’s correlation coefficient 258** 028 003 000 001 004 002 002 222** 115 285** 138 218** 248** 025 002 013 000 008 173 001 103 009 003 ** ** 114 ** ** 128 ** ** 331** 000 000 178 002 000 130 000 000 000 571** 146 241** 396** 257** 481** 517** 370** 000 084 004 000 002 000 000 000 163 399** 378** 236** 559** 485** 376** * 189 512 512** 002 000 530** 530 571** 000 013 000 000 185* 317** 114 146 163 028 000 178 084 054 248** 222** 253** 241** 399** 003 008 002 004 000 006 115 ** ** ** ** 253 231** ** 363 385 396 385 378 000 000 005 000 000 000 231** 261** 231** 157 092 162 006 002 006 063 276 055 322** 185* 462** 316** 214* 000 028 000 000 011 ** ** ** 208* 261 ** 322 173 000 000 000 002 000 285** 128 257** 236** 231** 185* 001 001 130 002 005 006 028 000 138 ** ** ** 157 ** ** 421 421** 243 427 481 522 000 ** 427 054 270** 559 462 472 474 000 472 000 000 013 243** 352** 292** 004 000 000 ** 389** ** 243 004 103 000 000 000 063 000 000 004 264** 218** 522** 517** 485** 092 316** 474** 352** Sig (bilateral) V12 V12 264** 317** 208* Sig (bilateral) V11 V11 243** 000 000 Sig (bilateral) V10 V10 270** 208* 309** Sig (bilateral) V9 V9 363** 000 025 Sig (bilateral) V8 V8 248** 264** 264** Sig (bilateral) V7 V7 185* 010 010 Sig (bilateral) V6 V6 309** 189* 493** Sig (bilateral) V5 V5 493** 001 Sig (bilateral) V4 V4 216* 001 265** Sig (bilateral) V3 V3 265** 590 000 590** 000 439** 002 009 000 000 000 276 000 000 000 000 258** 248** 331** 370** 376** 162 214* 208* 292** 389** 439** 002 003 000 000 000 055 011 013 000 000 000 Sig (bilateral) 000 ** The correlation coefficient is significant at 0.01 (bilateral) * The correlation coefficient is significant 0.05 (bilateral) 25 A EX Table Factor analysis: men versus women MEN WOMEN 3 V1 Responsibility 311 651 070 057 487 373 V2 Ability to think 058 755 214 074 835 068 V3 Solidarity 655 158 048 681 297 104 V4 Respect 733 268 -.027 704 005 220 V5 Loyalty 631 431 006 677 196 243 V6 Internationalization -.047 366 689 066 244 582 V7 Veracity 189 664 097 400 047 630 V8 Equality 543 -.156 411 439 048 592 V9 Proactiveness 039 049 811 052 540 393 V10 Honesty 619 239 112 797 -.038 230 V11 Tolerance 584 -.048 484 834 038 108 V12 Service attitude 294 247 472 546 526 -.283 26 A EX Table Factor analysis: state schools versus private schools State schools Private schools 3 V1 Responsibility 219 799 -.062 233 659 127 V2 Ability to think 063 728 383 132 763 -.017 V3 Solidarity 610 292 052 729 225 039 V4 Respect 726 347 -.042 704 154 001 V5 Loyalty 661 311 062 737 167 063 V6 Internationalization 117 363 607 007 462 473 V7 Veracity 386 232 209 440 333 323 V8 Equality 654 065 269 275 -.073 819 V9 Proactiveness 100 -.090 836 -.013 538 575 V10 Honesty 830 -.035 097 689 043 215 V11 Tolerance 756 -.062 199 628 110 430 V12 Service attitude 395 163 417 348 495 045 27 i A study carried out by T Lara Moreno and A Fernández Cano (2005), shows how the ideologies of private schools consider education in terms of values as part of their mission and their organisation’s outlook, highlighting social, moral, dynamic, individual and globalization values as being the most contemporary ii The documents and different articles that analize the different positions can be found in: - (2008) The binominal identity and mission in view of university students ´ challenges, Revista de Fomento Social, 252: 589-762, http://www.etea.com/biblioteca/sumarios_revistas/revista_fomento_social.htm iii Initiative promoted by the UN Global Compact, originating from the belief that academic institutions help to shape the attitudes and behaviour of leading entrepreneurs, which is why in open dialogue between different international organisations and an international working group from this field, devised certain principles for responsible management education in July 2007, from http://www.unprme.org/index.php iv An analysis done of the studies carried out on ethical leadership in organisations can be found in Brown and Treviño (2006) v Javier Elzo is a sociologist, head of a research team studying values from the University of Deusto and researcher on the European Values Study, which is why he is considered to be an expert on young Spanish people’s values His work can be found in: http://es.wikipedia.org/wiki/Francisco_Javier_Elzo#Publicaciones vi Different studies have proved that female students are more ethically aware than male students: Smith and Oakley (1997); Eweje and Brunton (2009) vii A study on the impact of team work in higher education and the gender variable can be found in J Parker (2010) 28 .. .Studies on Business Administration and Management and the ethical and social values Keywords: Values, higher education, research JEL codes: A13, A23 Abstract:... physical values, intellectual values, affective values, moral values, social values, ecological values, etc Different studies on value classification have been done, one that is worth mentioning... year State Private Mean Standard deviation Mean Standard deviation Mean Standard deviation Mean Standard deviation Mean Standard deviation Mean Standard deviation Responsibility 4.3 0.79 4.6 0.56