Busıness ethıcs and neolıberal transformatıon

The aim of this thesis is to investigate the new business ethics concept under the neoliberal transformation context and to explain the corporate governanance?s role as a basic remedy for the moral hazard problem.Neoliberal transformation made the firms have a great influence in the economy. Besides, some audit and control mechanisms used to be for the corporations and the corporate executives became so weak or totally eroded due to the neoliberal policies. This approach is based on the notion that the related parties themselves will control the market. However, against to expectations, this approach affected business ethics in a negative way and it became obvious with the corporate scandals such as Enron, WorldCom in the United States and Parmalat in Europe. Corporate governance has been tried to be used as a powerful tool in both developed and developing world, but in the United States and England, against this negative development which is a result of the neoliberal transformation.