The management of moral hazard through the implementation of a Moral Compliance Model (MCM)

The managemen o mo al haza d h ough he implemen a ion o a Mo al
Compliance Model (MCM)
Lei e San-Jose
a,
*, Jose Felix Gonzalo
b
, Mai e Ruiz-Roque~
ni
b
a
Uni e si y o he Basque Coun y (UPV/EHU), ECRI, A da. Lehendaka i Agi e 83, 48015 BILBO, SPAIN & Uni e si y o Hudde sfield (UK)
b
UPV/EHU. Facul ad de Economía y Emp esa. G upo ECRI, Spain
ARTICLE INFO
A icle His o y:
Recei ed 8 Sep embe 2020
Re ised 3 May 2021
Accep ed 15 Decembe 2021
A ailable online 5 Janua y 2022
ABSTRACT
Mo al haza d in an o ganiza ion occu s when people make decisions and ake a high isk o hei own bene-
fi , gi en ha hey would no ha e o bea all he nega i e ensuing consequences should hey occu . This isk
ans e ed o hi d pa ies is gene ally due o he ca alys s ha os e his isk, namely, in o ma ion asymme-
ies, powe , us and empo ali y. The con ibu ion o ou esea ch lies in he inclusion o mo al decisions in
p ojec managemen , hus demons a ing he easibili y o a Mo al Compliance Model (MCM). This model is a
complemen o legal compliance and allows a connec ion o be es ablished be ween Risk Managemen , Go -
e nance & Compliance. In 2019, expe imen al ac ion esea ch, combined wi h a Plan-Do-Check-Ac ion
applied o a company, we e used o pe o m he analysis. The findings show ha implemen ing his mo al
model in o ganisa ions is possible. Howe e , wha mo al haza d is needs o be shown, along wi h iden i ying
mo al haza d si ua ions and planning how o in oduce mo al haza d in o he isk managemen model in
o de o educe i s nega i e e ec o , ideally, elimina e i . We p o ide an o e iew o isks, including hose
a ound mo al dilemma decisions; mo al haza d si ua ions ha will expand compliance o in eg a ed compli-
ance in which no only legal, bu also mo al aspec s a e iden ified and assessed. Inco po a ing e hical dilem-
mas in s a egic decisions is a obus ad ance owa ds esponsible businesses.
© 2021 The Au ho (s). Published by Else ie España, S.L.U. on behal o AEDEM. This is an open access a icle
unde he CC BY license (h p://c ea i ecommons.o g/licenses/by/4.0/)
Keywo ds:
Co po a e go e nance
Compliance
Risk managemen
Co po a e managemen
S akeholde
Mo al haza d
Mo al en ep eneu ship
JEL classifica ion:
M140
1. In oduc ion
T adi ionally, he p ofi maximisa ion cul u e has p e ailed in
companies, o he de imen o , a leas , wi hou aking in o accoun s
he impac on he se o s akeholde s’in e es s (F eeman, Ha ison,
Wicks, Pa ma , & De Colle, 2010). Howe e , in ecen yea s, i has
e ol ed in o a mo e inclusi e business model (Ha ison, Phillips, &
F eeman, 2020). The way o managing o ganisa ions has likewise
changed and is now aligned wi h s akeholde s and no only sha e-
holde in e es s.
Howe e , he p ofi maximisa ion objec i e leading companies o
inc ease he isk wi h a hi d pa y −s akeholde s −has pa ly su -
e ed he nega i e consequences o hose decisions. Those ac ions
ha e been he guideline o many o ganisa ions (Dowd, 2009), whe e
mos o ganisa ions ha e sough hei own benefi wi hou aking
in o accoun he ha m caused o a hi d pa y. Some o hese cases
ha e esul ed in financial scandals, such as he En on (2001), A hu
Ande sen (2001), Mado (2008) and Ba clays (2012) cases, whe e i
should be no ed ha he inadequa e con ol o mo al haza d in
business decisions leads o social ine ficiency (U ionaba ene xea,
San-Jose, & Re olaza, 2016).
A mo al haza d si ua ion occu s when an agen has a g ea e p o-
pensi y o ake isks as he po en ial cos s o assuming such isks will
be bo ne by a hi d pa y. The mo al haza d a ises because he indi-
idual o he ins i u ion makes hei decisions wi hou ha ing o
assume all he po en ial nega i e consequences o hei ac ions.
Mo al haza d, as a cha ac e is ic elemen inhe en o he financial
sys em, o he economy in gene al and o companies in pa icula ,
needs o be kep unde con ol. Mo al haza d ca alys ac o s, pa icu-
la ly in o ma ion asymme y (see Gonzalo, San-Jose, & Re olaza,
2021 o a u he explana ion on ca alys s), make i di ficul o isu-
alize he mo al haza d isk assumed by hi d pa ies . The e o e, sel -
con ol o his isk by o ganisa ions using con ol o gua an ee sys-
ems is o a i al impo ance in o de o a oid he isk esul ing in
hi d pa ies o s akeholde s being ha med. The p oblem has been
de ec ed in his s age.
E en hough mo al haza d is no a new concep in economics, he
e hical pe spec i e adop ed in his a icle is. Implemen ing a model
ha acili a es i s managemen as a new isk ca ego y wi hin he
o ganisa ion’s isk sys em is p oposed. The possible solu ion has
been shown a his s age. The di e en ial s udying o he mo al haz-
a d concep is based on i s no being conside ed as a u he one o
* Co esponding au ho .
E-mail add ess: [email p o ec ed] (L. San-Jose).
h ps://doi.o g/10.1016/j.iedeen.2021.100182
2444-8834/© 2021 The Au ho (s). Published by Else ie España, S.L.U. on behal o AEDEM. This is an open access a icle unde he CC BY license
(h p://c ea i ecommons.o g/licenses/by/4.0/)
Eu opean esea ch on managemen and business economics 28 (2022) 100182
www.else ie .es/e mbe
which he o ganisa ions a e exposed and, he e o e, i s mi iga ion is
equi ed o a oid po en ial impac s on he company. In his case, he
mo al haza d, as i is gene a ed and ans e ed o hi d pa ies by
he o ganisa ion, does no impac hose di ec ly gene a ing he isk.
The e o e, he sus ainable and e hical beha iou owa ds i s s ake-
holde s is analysed and conside ed, hus jus i ying i s managemen
by he company.
O ganisa ions’ isk managemen sys ems a e cu en ly in eg a ed
in he Risk Managemen , Go e nance & Compliance coo dina ed
managemen models (Mille , 2017).
The En e p ise Risk Managemen (EMR) o he Commi ee o
Sponso ing O ganiza ions o he T eadway Commission (COSO,
2004), i s emb acing he en i onmen al, social and go e nance-
ela ed isk (COSO, 2018) and he ISO 31000 (In e na ional O ganiza-
ion o S anda diza ion, 2018) s anda ds p o ide a amewo k o
he implemen a ion o e ficien and e ec i e isk managemen sys-
ems ha enable app op ia e ac ions o be aken o be e sha e-
holde alue p o ec ion. Albei ha aking a comp ehensi e app oach
o a b oad spec um o isks and hei managemen has been an
undeniable imp o emen in en e p ise isk managemen in ecen
yea s (Gonz
alez, San omil, & He e a, 2020), hose sys ems do no
specifically en isage he iden ifica ion o he managemen o he
mo al haza d.
Co po a e go e nmen , by means o es ablishing policy and go -
e nance p inciples, allows s uc u es o be designed o se and
achie e he ganiza ion’s objec i es as ega ds i s sha eholde s and
i s s akeholde s o e all. Ini ia i es such as he Good Go e nance
Code o Lis ed Companies (OECD, 2020) and olun a y egula ions
enable o ganisa ions o ad ance in he desi ed ela ionship wi h
s akeholde s by os e ing olun a y social policies (Velasco, Gond a,
Mone a, & Ri e o, 2005) and e hical conduc (A joon, 2005;Caldwell
& Ka i, 2005;O'B ien, 2006). The co po a e-go e nance concep has
now been b oadened and allows companies, which so wish, o posi-
ion hei s uc u e, cul u e and guidelines in o de o eflec hei
social na u e and hei e hical decision-making abili y (Ma s-
den, 2000), unde he p emise ha a posi i e ela ionship wi h hei
s akeholde s helps no only o achie e sus ainable de elopmen , bu
also he sus ainabili y o he o ganisa ions i sel and p o ides i wi h
long- e m benefi s (Sche e e al., 2013). This pe spec i e implies he
olun a y assump ion o new managemen models ha inc eases he
esponsibili y o he o ganisa ion o s akeholde s o e all when
decision making; and, he e o e, mo al haza d si ua ions may eme ge
ha will ha e o be add essed. The e hical deploymen in he o gani-
sa ion equi es mo al haza ds o be iden ified and managed
(A joon (2005).
Companies a e cu en ly unde significan p essu e o in eg ally
s eng hen hei isk managemen sys ems in all hei a eas o ac i -
i y, including he isk o b each o he legal obliga ions (Hoy & Lie-
benbe g, 2011). E en hough i is ue ha g ea p og ess has been
made wi h he inclusion o o ganisa ions’ esponsibili ies owa ds
hi d pa ies, h ough legal compliance (B€
o zel & Buzog
any, 2019;
Salgue o-Capa 
os, Pa do-Fe ei a, Ma ínez-Rojas, & Rubio-Rome o,
2020), he inclusion o he e hical pe spec i e equi es compliance o
be b oadened and ein o ced. The e should also be compliance o he
olun a y obliga ions assumed by companies in hei ela ionship
wi h hei s akeholde s and new de aul isks, such as he mo al haz-
a ds, will ha e o be inco po a ed. In his ein, he e is a gap in he li -
e a u e ha has been p e iously exposed by bo h Gonzalo, San-Jose,
& Re olaza, 2021, who iden i y si ua ions o mo al haza d (he eina e
SMH) in he o ganisa ions and pinpoin he mo al haza d ca alys s,
and Feldman and Kaplan (2019), who analyse he exis ing e hical
conduc ha is de imen al o hi d pa ies. Thus, he need o o gani-
sa ions o be e unde s and he si ua ions ha could en ail epe cus-
sions on hi d pa ies, including hose ha could gene a e a mo al
haza d, so ha he isk managemen is in eg al, is highligh ed.
The main aim o his pape is o p opose a mo al compliance
model ha allows he mo al haza d o be inco po a ed in he com-
pany’s isk managemen sys em, linked o he ela ionship wi h hei
s akeholde s and o he isks ha can be induced when making deci-
sions and checking hei applicabili y. This model does no seek o be
a isk configu a o ha condi ions people’s e hics, bu a he a ool
and se ies o o ganisa ion s uc u al ecommenda ions, ha help o
deploy he e hical commi men s ha he company has adop ed in a
olun a y and sus ainable way o help people in he decision-making
p ocess.
Thus, he p oblem in ques ion is he lack o iden ifica ion and
managemen o he mo al haza d. The mo al haza d is incu ed by
o ganisa ions as ega ds he s akeholde s who a e po en ially
impac ed. We he e o e p opose he ollowing esea ch ques ion. Is i
possible o implemen a model o manage mo al haza d (called Mo al
Compliance Model, MCM) in he go e nance- isk-complian
app oach? I so, we wan o es ablish how ha is possible. We will
Table 1
Mo al Haza d Li e a u e om economical and e hical app oach: a e iew o implemen a mo al haza d model.
Li e a u e Wha aspec o Mo al Haza d has imp o ed and i
is ele an o MCM
Theo y / Pe spec i e Highligh
A ow (1963) Defini ion Mo al Haza d: Economical App oach Game Theo y Unce ain y Si ua ions
Pauly (1968) Defini ion Mo al Haza d: Economical App oach Economic Theo y O hodox Economy
Jensen and Meckling (1976) Defini ion Mo al Haza d: Economical App oach Agency Theo y Conflic o In e es s
S igli z (1983).A no and S igli z (1991).Defini ion Mo al Haza d: Economical App oach Con ac Theo y T ans e o Risks
Tu le, Ha ell & Ha ison (1997) Defini ion Mo al Haza d: E hical App oach E hical Componen Con ol he Egoism
Dembe & Bodem (2000)Defini ion Mo al Haza d: E hical App oach Mo al Haza d Theo y Immo ali y
K ugman ( 2009) Defini ion Mo al Haza d: Economical App oach T ade Theo y Pe e se Incen i e
Dean & Sha man(1996) Show a need o ge an ERM* O ganiza ion Theo y S a egical aspec
Beasley e al. (2005) Show a need o ge an ERM* Co po a e Go e nance Eme ging Risk inclusion
Summe s (2007) Show a need o include Mo al Haza d on ERM* Mo al Haza d Fundamen alism Eme ging Risk inclusion
B omiley e al. (2015) Show a need o ge an ERM* Risk Managemen Theo y Risk Con ol
Kap ein (2019)) Show a need o include Mo al Haza d on ERM* Mo al En ep eneu ship Mo al O ien a ion
Takemo o and A izono (2020) Show a need o ge an ERM* Game Theo y Consensus con ac
Dowd (2009) Si ua ions o Mo al Haza d (SMH) Financial C isis iew F ee-Risk does no exis
U ionaba ene xea e al. (2016) Si ua ions o Mo al Haza d (SMH) Zombie Theo y Financial S uc u e
Gonzalo, San-Jose, & Re olaza, 2021 Si ua ions o Mo al Haza d (SMH) S akeholde Theo y Ca alys s o Mo al Haza d
T e ino e al. (1999) Legal and E hical Compliance Value-based cul u e app oach Employees a i udes
Hage y e al. (2008) Legal and E hical Compliance Co po a e Go e nance Go e nance, Risk Managemen & Compliance
Mille (2017) Legal and E hical Compliance T iple Bo om Line Linking GRC*
Feldman and Kaplan (2019) Legal and E hical Compliance Beha iou al E hics Beha iou al E hics as Compliance
*ERM: En e p ise Risk Managemen . GRC: Go e nance, Risk managemen , and Compliance.
Sou ce: own elabo a ion.
L. San-Jose, J.F. Gonzalo and M. Ruiz-Roque~
ni Eu opean esea ch on managemen and business economics 28 (2022) 100182
2
he e o e answe h ee ques ions: How he Mo al Risk can be iden i-
fied and assessed (Risk managemen ), wha he decision p ocess
(Go e nance iew) is, and how he ules a e applied (Compliance).
Using he Mo al Compliance Model (MCM) de eloped in his
pape , we es ablish a model o he p e en ion and con ol o mo al
haza d in he managemen o he o ganisa ion, hus ad ancing in he
li e a u e on En e p ise Risk Managemen (EMR). I will show how
he mo al haza d can be managed and a socially esponsible company
achie ed, in which in eg a ed compliance including he mo al, in
addi ion o he legal, is implemen ed.
The a icle is di ided in o fi e sec ions, he fi s o which is he
in oduc ion. The second e iews he heo e ical backg ound, whils
he hi d easons he me hodology employed. Sec ion Fou discusses
he esul s ob ained om he empi ical esea ch conduc ed. I ends
wi h he conclusions, limi a ions and u u e lines o esea ch.
2. Li e a u e e iew
Pas and p esen mo al haza d iews need o be linked and co po-
a e economic and e hical app oaches in eg a ed by means o a
e iew o isk managemen li e a u e. We fi s conside (see Table 1)
he li e a u e on adi ional mo al haza d based on economic heo-
ies, be o e mo ing on o a new e hical app oach and hen finish wi h
he mo al haza d si ua ions in o ganisa ions; an aspec whe e legal
compliance is comple ed wi h a mo al iew.
F om an economic app oach, he in e es in he s udy o mo al
haza d da es back o he ea ly 1960s, wi hin he con ex o decision
making in condi ions o unce ain y (A ow, 1963, and Pauly, 1968).
Mo al haza d occu s when a pe son o en i y engages in economic
ac i i y in o de o ob ain maximum esul s, whils a hi d pa y
assumes he cos o isk o his ac i i y in he e en o ailu e. Mo al
haza d he e o e desc ibes si ua ions whe e he e is a ans e o isk
be ween economic agen s who a e di ec ly linked ei he by a con-
ac ual ela ionship (A no & S igli z, 1991) o mo e specifically by
means o a p incipal agen ela ionship (Jensen & Meckling, 1976),
whe e he agen s, who manage and can he e o e gene a e isk, ha e
mo e in o ma ion ega ding hei sha es han he p incipal, who
bea s he isk (S igli z, 1983). Recen ly, K ugman (2009) defines
mo al haza d as any si ua ion in which one pe son makes he deci-
sion abou how much isk o ake, while someone else bea s he cos
i hings go badly.
F om an e hical app oach, ew au ho s con ibu e in his line. The
cos o isk may also be passed on o hi d pa ies wi h no di ec con-
nec ion, such as he go e nmen , he eby ex ending he impac o
public policy (Summe s, 2007). In all ins ances o mo al haza d, he e
is always one pa y ha bea s a isk ha i has no explici ly assumed,
placing i a a disad an age in compa ison wi h he ac i e agen s,
who adjus hei beha iou in o de o ob ain some o m o benefi .
This ac ion has e hical and mo al componen s as i is no a du y bu a
decision (Tu le, Ha ell, & Ha ison, 1997). The e is hen an e hical
componen ha makes decision-make s p io i ize hei own benefi
o e ha o o he s, and ego is ical conside a ions abound in hose
ac ions. Al hough his concep is add essed om an e hical pe spec-
i e wi h mo al conno a ions (Dembe & Boden, 2000), i can also be
explained using o hodox economy ools, such as a ional indi idual
conduc (Pauly, 1968) o manage ial iew wi h isk con ol
(B omiley, McShane, Nai , & Rus ambeko , 2015).
The benefi o implemen ing en e p ise isk managemen sys ems
(he eina e ERM) ha educe he nega i e e ec s o isky ac ions on
companies can he e o e be concluded. The li e a u e shows he u il-
i y o using ERM om a s a egical iew (Dean & Sha man, 1996),
bu he impo ance o consensus when con ac s a e applied and
ela ionships a e de eloped is also shown (Takemo o & A i-
zono, 2020), along wi h he go e nance o he sys em o achie e he
expec ed esul s on companies (Beasley, Clune, & He manson, 2005).
The analysis o mo al haza d as a beha iou mo i a ed by a ional
causes, pu e egoism o as an unconscious beha iou , does no allow
p og ess in i s mi iga ion. The mo al haza d needs o be analysed
om an amo al pe spec i e in o de o manage i in he company
(Summe s, 2007;Kap ein, 2019). Some o ganisa ions hen wo y
abou hei esponsibili y o assumed isk implemen ed wi h he aim
o con ol hose aspec s. A mo al haza d in o ganiza ions is confi med
(Dembe & Boden, 2000) and i will he e o e, be use ul o conside he
mo al esponsibili y o o ganiza ions and inco po a e ha isk in
hei o ganiza ional sys em, including go e nance and decision p o-
cess. The delibe a e inclusion o mo al haza d con ol will educe he
ha m o hi d pa ies ha assume mo al haza d e ec wi hou hei
knowledge and consen .
Al hough he insu ance sec o is one o he mos widely s udied in
iden i ying si ua ions o mo al haza d (he eina e SMH), he finan-
cial c isis highligh ed many o he SMHs and hei impac on a a
wide s akeholde g oup (Dowd, 2009). O he aspec s, such as he
financials s uc u e o companies could also impac nega i ely and
inc ease he p obabili y o mo al haza d si ua ions a ising, pa icu-
la ly in zombie companies (see U ionaba ene xea e al., 2016 o u -
he in o ma ion). An ea lie induc i e s udy allowed o he
iden ifica ion o a fini e lis o mo al haza d si ua ions in o de o
es ablish hei ange (Gonzalo, San-Jose, & Re olaza, 2021). These
SMHs occu ed in ela ion o hei a ying s akeholde s. The analysis
iden ified ou elemen s ha SMHs cause in businesses, in line wi h
p e ious findings (Gonzalo, San-Jose, & Re olaza, 2021: 8): in o ma-
ion asymme y (“ ans e ing in o ma ion in an incomple e o
ambiguous way”), powe asymme y (“ aking ad an age o a posi ion
o powe o o ce he o he pa y o assume excessi e isks in ela ion
o he isk/benefi binomial”), us asymme y (“gene a ing alse
expec a ions o a s akeholde , aking ad an age o us ”) and empo-
ali y asymme y (“ he ac ha he esul s ob ained by bo h pa ies
do no coincide in ime means ha he balance-o -powe ela ion-
ships a e cons an ly changing, opening he doo o possible oppo u-
nis ic beha iou s”).
Co po a ions, in gene al, ha e a lack o con ol o mo al haza ds
wi h nega i e implica ions o companies and hei s akeholde s
(B omiley e al., 2015), undamen ally because he mo al o ien a ion
is no clea , and economic in e es p e ails o e he mo al pe spec-
i e, unless you open you eyes o mo al decisions h ough a sys em
o inclusion owa ds a mo al o ien ed company. A he u n o he
cen u y, he e was a call o he necessa y inclusion o s akeholde s’
in e es s in co po a e go e nance and business managemen in o de
o maximise long- e m co po a e alue (Jensen, 2001). Companies
canno igno e he p essu e o balance economic and mo al issues
exe ed by sha eholde s, po en ial in es o s and o he ma ke agen s.
In his sense, he ocus and conce ns su ounding go e nance
a e ex ended o hi d pa ies in a ques o a easonable balance
in managing he in e es s o s akeholde s in gene al and no jus
sha eholde s.
In u n, and dealing specifically wi h en e p ise isk managemen ,
Beasley e al. (2005) s essed he di ficul ies manage s expe ience
when a emp ing o include ce ain eme ging isks wi hin cu en
amewo ks, d awing a en ion o a se ious p oblem o a p ac ical
na u e; namely ha companies a e exposed o a se ies o isks ha
hey a e ailing o manage in a fi and app op ia e manne . Wi h a
mo al model (MCM) ha includes mo al haza d si ua ions and a isk
managemen sys em, bo h aspec s, he p ocess o con ol isks om
B omiley e al. (2015) and he mo al inclusion om Kap ein (2019))
could be in e connec ed o implemen success ully he mo al a he
ope a ional and s a egical le el o co po a ions.
Finally, i will be linked o compliance li e a u e. Including e hical
dilemmas is no new aspec (T e ino, Wea e , Gibson, & To fle ,
1999), bu some au ho s, such as Feldman and Kaplan (2019),
Mille (2017) and Hage y, Hackbush, Gaughan, and Jacobson (2008)
now show he impo ance o including e hical aspec s in compliance
L. San-Jose, J.F. Gonzalo and M. Ruiz-Roque~
ni Eu opean esea ch on managemen and business economics 28 (2022) 100182
3
p ocess. The e o e, go e nance, isk managemen and compliance
(GRC) will be connec ed o close he ci cle and ob ain expec ed posi-
i e esul s.
In he ligh o he abo e, he ollowing sec ions p esen a mo al
compliance model designed in acco dance wi h he esul s o an ea -
lie esea ch p ojec (Gonzalo, San-Jose, & Re olaza, 2021) and includ-
ing B omiley e al. (2015) isk con ol and Kap ein (2019)) mo al
o ien a ion ideas.
3. Me hodology
The esea ch was conduc ed using Ac ion Resea ch me hodology
(Lewin, 1946). This au ho defines he p ocess as “a spi al o s eps,
each o which is composed o a ci cle o planning, ac ion, and ac
finding abou he esul o he ac ion”(Lewin, 1946: 38).
The p ocess was cen ed on a single case s udy. Mu ualia was
selec ed o he applica ion o he MCM, a mu ual p o iden socie y
ope a ing h oughou Spain, bu mainly in he Basque Coun y. I
wo ks wi h he Spanish Na ional Ins i u e o Social Secu i y and deals
wi h a fic acciden s, occupa ional diseases and economic benefi s
o common con ingencies. Mu ualia was chosen o a numbe o ea-
sons. Fi s ly, due o he geog aphical a ea in which i ope a es and
he ac ha i is a medium-sized en e p ise; secondly, because i s
ajec o y has posi ioned i a he o e on o he mu ual insu ance
sec o in he Basque Coun y wi h a ma ke sha e o jus unde 50%;
hi dly, due o i s ongoing commi men o excellence in manage-
men ; finally, and o i al impo ance o he success o ou p ojec ,
he boa d o di ec o s demons a ed hei comple e willinginess o
coope a e wi h he p ojec . This was essen ial o he applica ion o
ou MCM model, as i in ol ed p ac ically all he depa men s in he
company. The managemen eam conside ed ha he p ojec p o-
ided an oppo uni y o con e he esea ch eam’s p io know-how
in mo al haza d in o an ou pu ha would ha e an immedia e and
p ac ical impac on he o ganisa ion. I s success would depend on i s
p ac ical easibili y and capaci y o b ing abou eal change o he
company. In his sense, he eadiness o he Mu ualia boa d o di ec-
o s o ake pa in he p ojec was mo i a ed by hei desi e o
de elop and apply managemen ools ha can be used di ec ly o
iden i y and manage mo al haza d. A u he objec i e was o
imp o e he company’s sus ainabili y s anda ds by managing all he
isks wi hin he o ganisa ion, wi h a pa icula ocus on hose a ec -
ing hi d pa ies.
In u n, he esea ch eam was eage o mo e ahead wi h he
de elopmen o managemen ools ha would boos business e hics
and will enhance sus ainabili y in o de o allow o he iden ifica ion
and managemen o mo al haza d, he eby p e en ing businesses
om impac ing nega i ely on hi d pa ies. The e o e, he p incipal
objec i e o he esea ch was o alida e he p ac ical applica ion o
Fig. 1. Implemen ing MCM in Mu ualia: Phases.
L. San-Jose, J.F. Gonzalo and M. Ruiz-Roque~
ni Eu opean esea ch on managemen and business economics 28 (2022) 100182
4
he MCM. Possible p oblems o p ac ical implemen a ion and po en-
ial imp o emen s o he MCM would hus be iden ified, and ha
analysis would allow he gene aliza ion o be applied in o he o gani-
za ions. Fu he mo e, i seeks o analyse he compa ibili y o he
MCM wi h he es o he o ganiza ion's managemen ools, hus
enhancing he ease o use by he o ganiza ion and i s pe cei ed use-
ulness. Objec i i y has been gua an eed, since he esul o he appli-
ca ion has been decoupled and he a iables ha a ec he p ocess
i sel ha e con olled. Fu he mo e, he c edibili y o he analysis has
been gua an eed by applying he model de eloped by C eswell (2007)
o he esea ch: epoch ( he examina ion o bias), join pee in e -
iews, membe e ifica ion, p olonged commi men o desc ip ions
and "li ing" he expe ience. This me hod eflec s a sys ema ic p ocess
wi h an objec i e and esul s.
Al hough Rapoppo (1970) defines he Ac ion Resea ch me hod-
ology as ocusing on he objec i e, o he au ho s such as Susman and
E e ed (1978) and Chein, Cook, and Ha ding (1948) highligh i as a
cyclical p ocess wi h 5 phases: diagnosis, ac ion planning, ac ion,
e alua ion and specific lea ning. Following he e minology o
Chein e al. (1948) and he numbe o phases implemen ed by he
esea ch eam wo king wi h he people in he o ganiza ion, his
esea ch can be classified as "expe imen al ac ion esea ch" gi en
ha all he phases o he p ojec we e ca ied ou in collabo a ion
wi h he pa ies. Fig. 1 eflec s he Ac ion Resea ch p ocess, including
sys ema ic s eps and ou comes o he model:
Sou ce: Au ho s’own
As he p e ious figu e shows, he Expe imen al Ac ion Resea ch
applied o he MCM comp ised fi e phases, a desc ip ion o each is
gi en below:
1. Diagnosis. Go e nance de e mines he policies and p ocedu es
in o de o achie e he goals se by he o ganisa ion, which a e linked
no only o business ope a ions, bu also o hei ela ionship wi h
s akeholde s. The exis ence o co po a e mo al haza ds indica es an
imbalance in he co po a e sys ems o companies ha adop sus ain-
abili y p inciples and demons a e a genuine conce n o hei s ake-
holde s.
2. Ac ion planning. The o ganisa ion will ha e o ealign i s goals,
mission, ision and alues wi h policies, decision-making sys ems,
managemen ools, pe o mance indica o s, and in e nal and ex e nal
audi ing sys ems. Applying he MCM sys em will ensu e compliance
wi h he mo al haza d go e nance di ec i es he o ganisa ion olun-
a ily assumes, using he same isk managemen echniques applied
o i s o he legal obliga ions. P io o implemen a ion, an ac ion plan
mus be d awn up ha akes in o conside a ion exis ing legal compli-
ance and isk managemen sys ems. This ac ion plan mus include
he ollowing: se ing objec i es, c ea ing he eam esponsible,
app o al o he imeline and aining in he MCM.
3. Ac ion aking.
The fi s s age o in oducing he MCM in o he o ganisa ion mus
include ac ions gea ed owa ds aising awa eness and p o iding
all membe s o he o ganisa ion, and, in pa icula , he senio
managemen eam, wi h an insigh in o mo al haza d ha will
allow o i s la e iden ifica ion.
SMH iden ifica ion. The o ganisa ion’s s a egic con ex and alue
gene a ion p ocess mus be examined in o de o iden i y possible
SMHs associa ed wi h i s s akeholde s and he unde lying a ia-
bles (namely, asymme ies o in o ma ion, powe , empo ali y
and confidence). A ea manage s will be equi ed o iden i y he
po en ial isks in ol ed in hei ac i i y. Iden ifica ion is based on
mul iple means, including a e iew o ope a ional p ocesses,
goals, e en s, his o ical in o ma ion analysis and he es ablished
e ifica ion indica o s o lis s.
SMH analysis and assessmen . This will be based on he ollowing
c i e ia: deg ee o se e i y o he impac on he a ec ed s ake-
holde , he likelihood o occu ence and po en ial equency.
These ac ions mus be ca ied ou by he a eas esponsible o
each isk.
Moni o ing sys em iden ifica ion. P ocesses will be applied in
o de o iden i y and gauge he e ficiency o exis ing mo al haza d
moni o ing sys ems by he isk manage s.
Risk assessmen . This in ol es compa ing esidual isk le els once
he exis ing moni o ing p ocesses ha e been applied, in acco -
dance wi h he defined isk c i e ia in acco dance wi h defined
isk ole ance c i e ia.
Risk handling. Based on he isk appe i e defined by he o ganisa-
ion, esponses will be de e mined in o de o deal wi h he isks.
The o ganisa ion’s esponse o he isks iden ified will in e ec
de e mine how hi d-pa y in e es s a e conse ed and he man-
ne in which an o ganisa ion gene a es alue.
Table 2
Technical shee .
Phase Numbe Phase 1 Phase 2
Mu ualia Company: a b ie summa y.
Mu ualia is a non-p ofi business associa ion wi h join
esponsibili y
O e co e age o 390,000 wo king people: almos 50% o he
wo ke 's insu ance ma ke in he Basque coun y
Web: h ps://www.mu ualia.eus/es/
599 employees (72% women)
Aim Iden ifica ion o si ua ions o Mo al haza d E alua ion o Mo al haza d
NPa icipan s 21 21 in he fi s and 20 in he second ( he di ec o E16JFO wen
o an ope a ion a e he fi s ocus)
P ofile All membe s o he Managemen Team All membe s o he Managemen Team
Analysis Me hod Semi s uc u ed In e iews Focus G oup
Risk Manage s All All
Used Communica ion Fo m
65% on line
30% in pe son
5% by elephone 100% in pe son
Con ac ime/No. Minimum and maximum used email: 1−3 Focus G oup 1: 2hou s 12`
Focus G oup 2: hou s 20`
T ansc ibed Yes Yes
Execu ion pe iod
Feb ua y 2019 o Ma ch 2019 12 Ap il 2019 (9.30 and 12.30)
5
L. San-Jose, J.F. Gonzalo and M. Ruiz-Roque~
ni Eu opean esea ch on managemen and business economics 28 (2022) 100182

4. E alua ion. This is join ly ca ied ou by he esea ch and man-
agemen eams, as well as he pe sons esponsible o Risk Manage-
men . This phase consis s o analysing he impac o he new mo al
haza d managemen p ocess. I also conside s he possible inclusion
o he MCM in he o ganisa ion’s exis ing compliance and isk
managemen s uc u e. Fu he mo e, i s udies he po en ial need
o c ea e new o ganisa ional s uc u es and managemen ools o
decision-making ega ding hese new isks.
5. Specific lea ning. This phase allows o imp o emen s o he ini-
ial MCM p ocess o be defined, he eby pe mi ing i s inclusion in
he o ganisa ion’s MCM and isk managemen sys em.
Each s age o he p ocess equi ed p ecise da a and in o ma ion
which we e ob ained essen ially om semi-s uc u ed in e iews
and ocus g oups. In e iews a e an e ec i e esea ch ool when a
complex analysis using de ailed in o ma ion is equi ed. They also
c ea e a elaxed a mosphe e ha is conduci e o da a collec ion (Pa -
on, 2002) and a e pa icula ly use ul when acing new p oblems ha
equi e in-dep h s udy. Semi-s uc u ed in e iews we e used in ou
esea ch (Rowley, 2012). Twen y-one in e iews we e held wi h
membe s o he managemen eam be ween Feb ua y and Ma ch
2019 (see Annex 1). Two ocus g oup sessions we e held in Ap il
2019: he 21 membe s o he managemen eam we e p esen a he
fi s g oup and 20 a he second. They we e di ided in o wo king
g oups o 5 o 6 membe s, in line wi h Ki zinge ’s ecommenda ions
(1995) ega ding g oup size and e ficiency (see Table 2). The pa ici-
pan s, all membe s o he managemen eam, we e selec ed due o
hei in e es in he pu pose o ou s udy: hey o m pa o he
o ganisa ion’s co e g oup in e ms o esponsibili ies and decision-
making capaci y and hold maximum esponsibili y o he s akehold-
e s and p omo ing he o ganisa ion’s policies (Ba bou , 2008;
Mason, 2017;Flick, 2018)
4. Resul s
Wha ollows is a discussion o he deli e ables co esponding o
Phases 3, 4 and 5. The ini ial phases −1 and 2 −consis ed o iden i y-
ing he p oblem and planning possible solu ions ( hey a e shown in
he in oduc ion o he pape ). We op ed no o include hem in ou
discussion due o a lack o space and he low le el o gene alisa ion
owing o he highly specific na u e o he o ganisa ion. Ou discus-
sion is he e o e limi ed o he esul s o he ac ions o iden i y he
mo al haza d map, isk managemen me hods and he lea ning
sys em.
Phase 3: Ac ion aken o es ablish Mo al Haza d Map.
Al hough Mu ualia is commi ed o i s s akeholde s and he ques
o excellence in managemen , a numbe o SMHs we e iden ified.
Mo al haza d was de ec ed in he ela ionship wi h all he s akehold-
e s iden ified in ou p ojec , namely he Company, Socie y, Supplie s,
Employees, Pa ien Cus ome s and Business Clien s, indica ing he
dimension o his p oblem o Mu ualia’s managemen sys em. The
iden ifica ion and la e assessmen o he SMH allowed o an ini ial
Mo al Haza d Map o be d awn up. This documen is essen ial in
o de o o ganise he in o ma ion desc ibing he co po a e isks. A e
he esea ch eam analysed he da a and sha ed he findings wi h
Mu ualia’s senio managemen eam, a o al o 30 SMHs we e iden i-
fied, as lis ed in he Mu ualia Mo al Haza d S anda d Si ua ions
Ma ix (MHSSM) shown in Table 3. The SMH we e p esen ed in
ma ix o ma conside ing bo h he a ec ed s akeholde s and he
ou ca aly ic elemen s ha cause SMHs in businesses. I is shown
how is possible o iden i y, analyse and include Mo al Haza d in o
he isk managemen sys em o he company. Table 3. Mu ualia Mo al
Haza d S anda d Si ua ions Ma ix.
This ma ix is o g ea in e es o ou esea ch p ocess, as i gen-
e a es a p omising se o hypo heses ega ding he issue o mo al
haza d, no only p o iding a conside ably g ea e insigh in o his
issue, bu also a ou ing i s p e en ion, o a leas a educ ion o i s
nega i e e ec s. Du ing he final mee ing o he managemen eam
o app o e Mu ualia’s Mo al Haza d Map, he membe s unanimously
ag eed ha SMHs we e po en ial p oblems wi hin he scope o he
o ganisa ion’s ac i i y. Fou unde lying ac o s we e also iden ified as
he causes o si ua ions o mo al haza d in he o ganisa ion: asym-
me ies o in o ma ion, powe , esponsibili y and empo ali y.
Phase 4: E alua ion o mo al haza d in he isk managemen model.
Iden i ying SMHs enabled he o ganisa ion o manage i s mo al
haza ds. S eady p og ess has been made in his sense, based on PDCA
me hodology (Plan, Do, Check, Ac ion). Each s age o he p ocess has
included pe iods o eflec ion ha ha e gene a ed p oposals o
ongoing imp o emen s. The MCM has been included in he o ganisa-
ion’s Risk Managemen P ocedu e Plan (see Fig. 2), ollowing he
same p ocedu e as o he o he isks de ec ed, he eby adding o and
imp o ing his s a egic p ocess. Howe e , a comple e inclusion o
mo al haza d means ha he c ea ion o new o ganisa ional s uc-
u es was essen ial o acili a e he easibili y o he mo al haza d
managemen sys em. Fundamen ally, i consis ed o applying e hical
dilemma managemen o assis wi h decision-making p ocesses, as
well as he se ing up o an E hics Commi ee wi h a consul a ion,
moni o ing and esponse ole in he e en o e hical isks. The p o-
cess o including legal and mo al isks is p ac ically comple e,
al hough he la e equi e commi ees wi h membe s wi h expe ise
in e hics in o de o gua an ee he co ec moni o ing and con ol o
hese isks. I con ibu es mo al en ep eneu ship because he ou -
comes include he mo al de elopmen in o he company in a s uc-
u ed and in eg a ed sys em. Tha could inc ease he us o
s akeholde s and he e o e he long- e m sus ainabili y o company.
Co po a e go e nance is shown o be impo an , along wi h how a
commi ee-based decision p ocess is needed.
Sou ce: au ho s own.
The ollowing modifica ions we e made o comple e he isk man-
agemen model wi h mo al haza d (see Table 4):
Phase 5: Specific lea ning a e implemen MCM in he o ganiza ion.
Applying he MCM has been a social challenge o he manage-
men eam, who conside s ha i has imp o ed hei e hical leade -
ship skills. Thei ongoing suppo and commi men a e i al, as he
model equi es he pa icipa ion o all unc ional a eas. In he case o
Mu ualia, selec ing he p ojec eam (21 senio manage s) p o ed
c ucial o he success ul esul s ob ained, as hey we e dependen on
he in ol emen o hose key decision-make s wi hin he o ganisa-
ion, as well as hose membe s esponsible o iden i ying and han-
dling isks. Fu he mo e, he in oduc ion o he new mo al haza d
concep and i s specific cha ac e is ics equi e awa eness- aising and
aining ac ions.
The iden ifica ion o isks, which we e ini ially conside ed o be
mo al, ye which we e classified as legal ollowing a second es
( ocus g oups), has led he o ganisa ion o conside he need o boos
legal- aining skills, gi en he specific na u e o he sec o Mu ualia
ope a es in.
The findings show ha i is possible o include his ype o isk in
moni o ing, assessmen and con ol p ocedu es. Those ac ions a e
shown o be an essen ial pa o managing ongoing imp o emen s
o a mo e mo al socie y and o comple e bo h he legal and mo al
compliance o he company. Fu he mo e, in oducing he MCM in
Mu ualia has allowed he o ganisa ion o ex end he scope o i s
objec i es beyond annual financial esul s and inco po a e mo al
lea ning p ocesses, a majo social challenge ha will also enhance i s
sus ainabili y s a egy.
6. Conclusions
The MCM desc ibed in his a icle was o mula ed in acco dance
wi h he unde lying logic o Go e nance, Risk managemen , and
Compliance sys ems, and he specific inclusion o mo al haza d con-
ol and managemen .
6
L. San-Jose, J.F. Gonzalo and M. Ruiz-Roque~
ni Eu opean esea ch on managemen and business economics 28 (2022) 100182
Table 3
Mu ualia mo al haza d s anda d si ua ions ma ix.
S akeholde AI AT AP AR
SITUATION OF MORAL HAZARD/ASYMMETRIES In o ma ion Tempo ali y Powe Responsibili y
COMPANY CLIENT
PRE-SALE O e ing a p oduc , se ice o solu ion in he knowledge ha i may no
sa is y he cus ome ’s needs, and ailing o in o m hem be o ehand.
XX
PRE-SALE Concealing in o ma ion ega ding he ange o se ices p o ided using
hi d pa y means.
X
COMMUNICATION Failing o in o m cus ome s in he same manne o hei igh s and obli-
ga ions as membe s o he mu ual p o iden socie y, he eby jeopa d-
ising he homogenei y o he s anda d o in o ma ion and se ice.
X
PATIENT- CUSTOMERS
PROVISION OF SERVICE Adop ing decisions ega ding he e usal o expi y o se ices (e.g. cessa-
ion o ac i i y o ca e o sick mino s) in he case o doub ega ding
he applica ion o egula ions, based on he possibili y ha he in e -
es ed pa y may op no o ake legal ac ion wi h a po en ially posi i e
ou come as i would incu legal cos s. This decision would benefi he
mu ual p o iden socie y and he sys em, o he de imen o he
indi idual.
X
PROVISION OF SERVICE Failing o in o m use s o he legal al e na i es when claiming se ices. X
PROVISION OF SERVICE Lack o p oac i e ac ions: in o he wo ds, ailing o check whe he bene-
ficia ies mee he en i lemen equi emen s ha would enable hem
o apply o benefi s. Many people a e unawa e o he op ions open o
hem.
X
PROVISION OF SERVICE Gi en ha he final decision lies wi h he pa ien s, he e is a isk ha
hey a e no in o med o all he al e na i es a ailable o hem when
adop ing medical decisions.
XX
PROVISION OF SERVICE P io i ising pa ien s in acco dance wi h economic c i e ia; in pa icula ,
access o medical se ices based on sick lea e expendi u e.
X
EMPLOYEES
SELECTION Du ing he selec ion p ocess in e iew, ailing o in o m po en ial candi-
da es o he di ficul ies (sec o egula ions) in hi ing new employees,
excep in cases o eplacemen , he eby gene a ing expec a ions ha
may no be me .
X
HIRING Hi ing people whose skills le els a e highe han hose equi ed, using
p omises o u u e possibili ies o p omo ion ha we a e unable o
gua an ee.
XX
CAREER DEVELOPMENT O e ing aining and ca ee de elopmen op ions wi h no gua an ees
ha hese p omises can be me .
X
CAREER DEVELOPMENT P omo ing employees wi hou assessing hei sui abili y o he pos . X
CAREER DEVELOPMENT O e ing a pos o ask wi hou ensu ing ha he pe son has ully unde -
s ood he implica ions o accep ing said unc ions.
X
CAREER DEVELOPMENT P omo ing an annoying pe son o ou own benefi , in he knowledge
ha he e a e o he , mo e capable employees who would fi he pos .
X
CAREER DEVELOPMENT C ea ing ad hoc pos s o people we wish o benefi . X
CAREER DEVELOPMENT Assigning aining o specific pe sons in he knowledge ha his would
place hem a a clea ad an age o e hei co-wo ke s in u u e in e -
nal p omo ion p ocesses, ailing o p o ide all s a wi h equal
oppo uni ies.
X
COMMUNICATION Taking c edi be o e supe io s o ideas, p ojec s and ac ions o col-
leagues, wi hou acknowledging he pe son o pe sons ha ha e ca -
ied ou he wo k, he eby limi ing hei ca ee de elopmen and
“success”.
XX
CONCILIATION MEASURES Adop ing decisions ega ding concilia ion measu es wi hou p e-de e -
mined c i e ia based on objec i i y and equali y.
XX
LEADERSHIP A oiding esponsibili y by delega ing in ou subo dina es’decisions ha
we should ake ou sel es.
X
LEADERSHIP Asking a membe o s a o unde ake a ask wi hou in o ming hei
supe io , he eby p e en ing hei wo k om ecei ing due ecogni-
ion i success ul, ye which would be aken in o accoun in he e en
o ailu e.
XX
LEADERSHIP Asymme ical dis ibu ion o wo kloads in acco dance wi h he deg ee o
confidence and commi men shown by o he membe s o s a .
XX
SUPPLIERS
TENDER Imp o ing he financial e ms and condi ions o an ag eemen wi h a
supplie o pe sonal benefi , in he knowledge , knowing ha his
may impac nega i ely on he subcon ac ing chain and in u n on he
quali y o he se ice /p oduc acqui ed.
XX
TENDER Con ac s o supplies whe e he law does no equi e a ende , gene a -
ing expec a ions ega ding he con inua ion o supply wi hou ull
gua an ees he e o, in o de o ob ain accep ance o he e ms and
condi ions se by he company.
XX
CONTRACTING XX
(con inued)
7
L. San-Jose, J.F. Gonzalo and M. Ruiz-Roque~
ni Eu opean esea ch on managemen and business economics 28 (2022) 100182
Ou findings show ha i is possible o in oduce he MCM,
based on a single case s udy me hodology, he fi e phases o
expe imen al ac ion esea ch and combined wi h PDCA (Plan, Do,
Check, Ac ion). The esul s indica e mino o ganisa ional changes
will allow o he in eg a ion o mo al haza d managemen wi h
o he isks.
F om a heo e ical pe spec i e, he p oposed model is con ingen
in ha he expec ed ou comes a e in line wi h he o ganisa ion’s phi-
losophy, ac ions and decisions. I does no assume o dic a e he man-
agemen eam’s beha iou ; no does i conside he esul s o be
ei he desi able o unaccep able; ins ead, i p o ides a amewo k o
eflec ion on he isks associa ed wi h ce ain o ms o beha iou
wi hin he o ganisa ion ha may impac nega i ely on hi d pa ies.
I is he e o e a managemen ool ha acili a es eflec ion on he
e hical implica ions o business decisions.
The concep o Go e nance, Risk managemen and Compliance
(GCR) is en iched by specifically inco po a ing mo al haza d manage-
men and o e coming legal o c iminal compliance, since he p o-
posed managemen o mo al haza d is based on beha iou ha may
be inco ec om a mo al poin o iew, bu i canno be sanc ioned
acco ding o cu en legisla ion. Thus, he pe spec i e o isk manage-
men wi h he MCM is b oadened om he legal o he mo al. A
Table 3 (Con inued)
S akeholde AI AT AP AR
SITUATION OF MORAL HAZARD/ASYMMETRIES In o ma ion Tempo ali y Powe Responsibili y
O e ing exagge a ed consump ion o ecas s wi h wide ma gins (in o de
o sa e ime and esou ces), and he e o e aking ad an age o benefi-
cial a es o which we a e no eally en i led.
CONTRACTING Influencing he supplie ’s selec ion o he eam membe s who will p o-
ide you wi h he se ice eques ed. Al e ing he na u al selec ion o
some membe s o e o he s.
X
CONTRACTING In he case o ende s, including a se ies o equi emen s ha a e g ea e
han he p o isions o he law (en i onmen ,% o disabled wo ke s)
ha he mu ual p o iden socie y i sel does no mee o is unable o
handle.
X
CONTROL OF THE CONTRACTED SERVICE Changing he e ms and condi ions o a con ac a e i has been
awa ded, he eby o cing he supplie o e use he con ac in he
ligh o he possible consequences.
XXX
SOCIETY
SERVICE SUBCONTRACTING Alloca ing se ices o a supplie wi hou conside ing he condi ions in
which hey will be p o ided, o was e managemen p ocesses.
X
SERVICE SUBCONTRACTING Adop ing decisions ha a e po en ially damaging o he en i onmen a
he expense o imp o ing ou financial esul s, albei wi hin he law.
Delaying he in oduc ion o en i onmen al measu es.
X
INVESTMENTS Limi ing conside a ions ega ding in es men s in cen es o se ices
exclusi ely o economic c i e ia and ailing o ake in o conside a ion
accessibili y equi emen s.
X
Fig. 2. MCM applied o Mu ualia.
8
L. San-Jose, J.F. Gonzalo and M. Ruiz-Roque~
ni Eu opean esea ch on managemen and business economics 28 (2022) 100182
Table 4
Modifica ions o inco po a ing he MCM in o Mu ualia.
Modifica ion o comple e he MCM Desc ip ion Sho e m ele ance
Risk map (including mo al haza ds) Resul o he isk iden ifica ion p ocesses. Risk analysis and assessmen . Iden ifica ion and app aisal o he
con ol mechanisms applied o ac i i ies whe e po en ial mo al haza d has been iden ified and mus
he e o e be managed, beyond legal and e hical compliance by he pe sons esponsible o said ac i i ies.
This co e s he en i e p ocess, om inhe en o esidual isk.
Ve y high
T aining An e hical managemen aining plan was d awn up o boos knowledge o he new esponsible business
app oach, p omo ing employees’ca ee de elopmen , mo al conduc and decision-making skills.
High
Decision-making Es ablishmen o p o ocols o p ocedu es ha unde pin s a aining p ocesses, including a p ocedu e o
managing e hical dilemmas ha may appea when making decisions.
Ve y high
E hics commission The commission’s ac ion scope will include he p omo ion o good co po a e go e nance, an e hical co po-
a e cul u e, as well as esol ing e hical dilemmas ha may occu when making decisions. I will also ac
as a supe iso y body, wi h he capaci y o ake ini ia i es and exe con ol, supe ising ope a ions and
compliance wi h he mo al haza d plan in he field o e hical managemen .
Ve y high
De ec ion measu es C ea ion o p ocedu es o assess he e ficiency o he con ol measu es imposed:
Risk and isk supe ision audi s.
Communica ion channels. The E hics Channel will be used o egis e possible que ies o complain s.
Inclusion in he co po a e cul u e o he obliga ion o epo any po en ial isk o inciden s o non-com-
pliance o he co esponding body and compliance wi h he p e en ion model.
Medium
Reac ion o isk
Measu es mus be applied in he e en
ha any changes a e de ec ed
(appea ance o a mo al haza d)
This includes he c ea ion o a disciplina y sys em ha ewa ds / sanc ions compliance o non-compliance
wi h he measu es included in he model, associa ed wi h he collec i e labou ag eemen , in u n linked
o he aining p og amme ha will con ibu e o employee pe o mance in line wi h he company’s
alues.
Medium
Annex 1
Pe sonal in e iews: desc ip i e a iables.
In e iewed Da e 1s In e iew Posi ion Depa amen Age Rang T aining Numbe o employees a
you cha ge
E1NLE 13/02/2019 Managing Di ec o Managemen 50−55 Deg ee in Economic and
Business Sciences om he
UPV/EHU
650
E2JAR 14/02/2019 Di ec o o Ope a ions and
Adminis a i e Se ices
Managemen 45−50 Business Adminis a ion and
Ma ke ing. EMBA Deus o
Business School.
8
E3DBA 14/02/2019 P ocess Di ec o Cessa ion
Ac i i y
Financial benefi s and
Collec ion
45−50 Indus ial echnical
enginee ing
2
E4LAC 11/02/2019 Di ec o o Resou ce
Managemen
Pu chasing, Con ac ing and
Building Managemen
35−40 Deg ee in Economic Law 22
E5ICS 13/02/2019 Managemen Di ec o Managemen 40−45 35
E6RMV 13/02/2019 HR Di ec o HR 60−65 Deg ee in Law 4
E7LCC 13/02/2019 Mad id Managemen
Di ec o
Managemen 45−50 Deg ee in Law 2
E8VHU 15/02/2019 O ganiza ion and Quali y
Di ec o
O ganiza ion and isk
managemen
45−50 Bachelo o Business
Sciences
5
E9MAU 11/02/2019 Assu ance Di ec o Head o he Heal h Manage-
men Uni
50−55 Doc o o medicine and
su ge y
−
E10LGE 19/02/2019 Economic-Financial Di ec o Economic-Financial 40−45 Bachelo o Business
Sciences
25
E11MLO 17/02/2019 Legal A ai s Di ec o Managemen 65 Law and Social G adua e −
E12VES 15/02/2019 Di ec o o In e nal Audi In e nal audi 40−45 Bachelo o Economics 2
E13SCM 14/02/2019 Di ec o o Legal Ad ice and
Co po a e Compliance
Legal Ad ice and Co po a e
Compliance
55−60 Law Deg ee 22
E14IGO 12/02/2019 Di ec o o Collec ion and
Benefi s
Financial benefi s and
Collec ion
55−60 Geog aphy and His o y 50
E15JVC Di ec o o communica ion Communica ion a ea 45−50 Economic and Business 5
E16JFO 11/02/2019 Guip
uzcoa Heal hca e Di ec-
o and Head o he
Depa men o T auma ol-
ogy and O hopaedic
Su ge y.
Guip
uzcoa Heal hca e O fice 55−60 Doc o in medicine 162
E17VEC 07/02/2019 Di ec o o Heal hca e Se -
ices and Financial Benefi s
Managemen 55−60 Doc o o medicine and
su ge y
300
E18MFM 23/02/2019 People De elopmen
Di ec o
People De elopmen Law deg ee 8
E19IIA 15/02/2019 Di ec o o In o ma ion
Sys ems
In o ma ion sys ems 45−50 Compu e enginee 19
E20JOL 14/02/2019 Ca e di ec o Ala a and Mad id heal h
a ea
55−60 Bachelo o Medicine and
Su ge y
80
E21JRU 13/02/2019 Ca e Di ec o Bizkaia 55−60 G adua e in medicine and
su ge y. Family Medicine
Specialis
207
9
L. San-Jose, J.F. Gonzalo and M. Ruiz-Roque~
ni Eu opean esea ch on managemen and business economics 28 (2022) 100182