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Given today’s hypercompetitive global economy, it is important to understand the ethical attitudes and standards of entrepreneurs in the US as well as in the other parts of the world. This study of ethical attitudes and standards is grounded in theory and previous research. One hundred and sixty‐five entrepreneurs from the US and 159 entrepreneurs from Russia were surveyed using a measuring instrument containing binary response questions, scenarios and comprehensive demographic information. The study confirmed our expectations and indicated that entrepreneurs in the US and Russia are different with respect to their ethical codes and attitudes.

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