Act on Compulsory Insurance of Pension Rights and Activities of Pension Funds
, 54, 82
Act on Electronic Rights and Refills (87/2018)
, 195
Act on Unemployment Insurance and the Act on the Wage Guarantee Fund
, 128
Advertising
, 191
ethics
, 26–31
Agency theory
, 6–7, 17–18, 20–21
Air Cargo Market
, 105–107
Air Operator’s Certificate (AOC)
, 105
Aircraft, Crew, Maintenance and Insurance (ACMI)
, 102
Bluebird Nordic competing in
, 107–108
leasing sector
, 102
Althingi
, (see Icelandic government)
Althydusamband Islands (ASI)
, 93
American Psychological Association
, 178
Anglo-Saxon markets
, 12–13
Animal rights activists
, 24
Association of Alcohol and Drug Abuse (SAA)
, 169, 173
Association of Gambling Addicts (SAS)
, 169
Association of Icelandic Air Traffic Controllers (FIF)
, 114
Avia Solutions Group (ASG)
, 101, 103–104
Bakkinn (warehouse services)
, 119
Bankruptcy protection and restructuring
, 211–213
Berle–Means’ ideology of shareholder ownership and corporate governance
, 5
Bluebird Nordic Airlines
, 101, 223
ASG
, 103–104
Bluebird Nordic business
, 104–105
collective bargaining agreements
, 109–110
competing in ACMI market
, 107–108
context for Bluebird Nordic’s employee relations
, 108–109
history
, 102–103
Iceland’s airline industry and Air Cargo Market
, 105–107
labor rules
, 110–111
perspectives
, 115–117
perspectives from Trade Unions
, 114–115
and pilot dispute
, 111–114
Board Independence
, 48, 52, 60–63, 75–76, 81, 86
Board of Directors
, 13–14, 16, 51, 56, 58, 60–61, 63, 65–66, 74–75, 78, 132n31, 142–145, 147, 154
British American Tobacco (BAT)
, 187
Business ethics
, 1–3, 22, 47
advertising ethics
, 26–31
complicity theory
, 42
contractarianism
, 35
data sources
, 49–50
deontological theories
, 33–34
descriptive theories of morality
, 38
empirical studies in
, 42
ethical decision models
, 43–45
existentialist ethics
, 37–38
harm to others
, 23–25
hypothetical and categorical imperatives
, 34–35
moral concepts
, 39–40
moral corporation
, 42–43
normative theories of morality
, 38–39
role and limits of
, 25–26
selection of subjects
, 47–49
standard theory
, 40–41
theories of ethics
, 31–33
veil of ignorance
, 35–37
virtue ethics
, 37
“Cap and trade” principle
, 160
Carbon dioxide (CO2)
, 157, 160
Carbon dioxide equivalents (CO2e)
, 160
Carbon emission reduction credits (CERs)
, 163
Carbon offsetting
, 158
carbon credits vs.
, 160–161
Environment Agency of Iceland
, 165–167
global climate change initiatives,
, 158–159
“Green Step” Program
, 165–167
“Greening” Company Operations
, 167
in Iceland
, 161–164
Iceland’s commitment to climate change
, 159–160
Icelandic Climate Council
, 168
Skogarkolefni
, 165
Wetland Fund, The
, 164–165
Case study research method
, 3
Case writing process
, 3, 223
Categorical imperatives
, 34–35
Central Bank’s FSA Investigation
, 81–82, 86
Certified emission reduction (CER)
, 158–159
Classical utilitarianism
, 31, 39
Clean Development Mechanism (CDM)
, 158
Climate change
, 157
global climate change initiatives,
, 158–159
Iceland’s commitment to climate change
, 159–160
Codes and guidelines for good governance
, 9–11
Complementary DNA (cDNA)
, 207
“Comply or explain” principle
, 9–10
Compulsive gambling
, 178–179
Concentrated ownership
, 8
Confederation of Icelandic Employers (SA)
, 54–55, 63, 74, 81–82, 86, 109, 113–114, 127, 167
Consumer Agency of Iceland
, 26
Consumer Association of Iceland
, 27
Consumer Associations
, 27–28
Consumer Mortgage Act
, 55
Corporate governance
, 5, 7, 13, 47–48, 223
agency theory
, 6–7
codes and guidelines for good governance
, 9–11
data sources
, 49–50
fundamental principles
, 223
fund’s approach to
, 74
importance
, 8
as interdisciplinary subject
, 11–15
at LIVE
, 74
private, public, and third sector organizations
, 15–22
rules
, 8
selection of subjects
, 47–49
stakeholder theory
, 7–9
Corporate responsibility from Festi website
, 126–127
Corporate Social Responsibility (CSR)
, 137, 161
COVID-19
, 90, 124
crisis
, 110
government reaction
, 124–127
pandemic
, 48, 87
strikes
, 90–91
Economic theory of third sector governance
, 22
Eimskip
, 137–138
ESG
, 156
governance at
, 143–144
Iceland’s cargo shipping industry
, 138–140
laws pertaining to ship disposal
, 154–155
new and old ships
, 144–151
Samherji’s mandatory takeover bid of
, 141–143
shareholder structure
, 140–141
ship disposal
, 151–154
Electronic nicotine delivery systems (ENDS)
, 187
ELKO (electronics and appliances)
, 119–120
Emissions reduction unit (ERU)
, 159
Empirical studies in business ethics
, 42
Employee relations in midst of COVID-19
, 91–98
Environmental, Social, and Governance (ESG)
, 156
considerations
, 77
framework
, 2, 48, 224
measures
, 161
Environmental Agency of Iceland
, 155, 165–167
Ethical decision models
, 43–45
Eudaimonistic utilitarianism
, 32, 37
European Economic Area (EEA)
, 110
European Transport Workers Federation
, 93
European Union (EU)
, 110, 137, 160, 188
EU-approved shipyard
, 137
transport ministers
, 110
European Union Emissions Trading System (EU ETS)
, 160
European Union Ship Recycling Regulation No. 1257/2013
, 154
European Union Waste Shipment Regulation No. 1013/2006
, 154
Existentialist ethics
, 37–38
Felag Islenskra Atvinnuflugmanna (FIA)
, 92
Festi
, 119–120, 223
code of conduct from
, 125
corporate responsibility from
, 126–127
COVID-19 and Icelandic’s government reaction
, 124–127
criticisms
, 130–131
operations amidst COVID-19
, 129–130
partial compensation route
, 128–129, 132–135
Financial crisis
, 211–213
Financial Supervisory Advisory (FME)
, 60–63
announcement from
, 60–61, 63–65
Financial Supervisory Authority (FSA)
, 70
Financial Supervisory Commission (FME)
, 172
Flugfreyjufelag Islands
, (see Icelandic Cabin Crew Association (FFI))
Flugvirkjavelag Islands (FVI)
, 92
For-profit organizations
, 17
Functional convergence
, 9
Gambling addiction
, 178–179
in Iceland
, 179–182
Gambling Addiction Association (SAS)
, 178
Gambling disorder
, (see Compulsive gambling)
Gambling laws in Iceland
, 170–172
Gaming slot machines
, 169
gambling addiction
, 178–182
Gambling Addiction Association
, 178
gambling laws in Iceland
, 170–172
Islandsspil
, 172–175
Lottery of the University of Iceland
, 175–177
Genome-wide association studies (GWAS)
, 211
German Federal Institute for Risk Assessment (BfR)
, 193
Good governance
, 15–16
codes and guidelines for
, 9–11
Governance
, 5–6, 15, 20–21, 77, (see also Corporate governance)
classes
, 3
education
, 2
at Eimskip
, 143–144
at LIVE
, 54–55
theories
, 16
Greatest equal liberty principle
, 36
“Green Step” Program
, 165–167
“Greening” Company Operations
, 167
“Guerrilla” marketing
, 22
Iceland
, 1, 157
airline industry
, 105–107
business ethics and governance education in
, 2, 4
carbon offsets in
, 161–164
cargo shipping industry
, 138–140
commitment to climate change
, 159–160
gambling addiction
, 178–182
gambling laws in
, 170–172
Icelandic situation
, 3
marketing nicotine pouches in
, 189–192
Iceland’s Financial Supervisory Authority (FME)
, 52
Iceland’s Tobacco Control Act
, 183
Icelandair & FFI: A Fierce Union Battle in the Midst of COVID-19
, 87, 223
COVID-19 strikes
, 90–91
economy
, 88
employee relations in midst of COVID-19
, 91–98
Icelandair’s Share Offering
, 69, 82–84
Board Independence
, 75–76
Board of Directors
, 74–75
Central Bank’s FSA Involvement
, 81–82, 86
corporate governance at LIVE
, 74
Icelandair restructuring and FFI Union
, 79–80
investment decision
, 78–79
investment policy and criteria
, 77–78
LIVE pension fund of commerce
, 70–74
LIVE’s decision
, 84–86
risk policy
, 78
VR’s declaration against Icelandair
, 80–81
“Icelandbook” Genealogical Database
, 209
Icelandic Airline Pilots’ Association
, 92
Icelandic Association for Search and Rescue (ICE-SAR)
, 169, 173
Icelandic Association of Aircraft Mechanics
, 92
Icelandic business leaders
, 48
Icelandic Cabin Crew Association (FFI)
, 69, 80, 87, 92, 94, 114
Icelandic Carbon Fund, The
, 162
Icelandic Central Bank
, 51
Icelandic Climate Council
, 158, 168
Icelandic Commercial Pilots’ Association (FIA)
, 101, 109
Icelandic Competition Authority (ICA)
, 148
Icelandic Confederation of Labor
, 93
Icelandic Federation of Labor (ASI)
, 114–115
Icelandic Federation of Trade
, 129
Icelandic Forest Service
, 162, 165
Icelandic government
, 91, 157, 195
Icelandic Medical Association
, 205
Icelandic Mental Health Alliance
, 178
Icelandic Minister of Health
, 195
Icelandic pension system
, 52
Icelandic Red Cross (RKI)
, 169, 172–173
Icelandic Search and Rescue Association (ICE-SAR)
, 216
Icelandic Securities Transactions Act
, 141
Icelandic Telephone Company
, 41
Icelandic Transport Authority (ICETRA)
, 114
Icelandic Waste Management Act
, 155
Icelandic’s government reaction
, 124–127
Initial Public Offering (IPO)
, 103, 207–208
Institutional theory
, 17, 19
Instrumental stakeholder theory
, 7
Insurance transactions
, 24
Integrative Social Contracts Theory (ISCT)
, 36
International Association of Carbon Certificate Sellers (ICROA)
, 166
International Carbon Reduction & Offset Alliance (ICROA)
, 162
International Chamber of Commerce
, 36
International Labour Organization
, 36
International legal systems
, 9
International Maritime Organization (IMO)
, 144
Investment policy and criteria
, 77–78
Samband islenskra auglysingastofa (SIA)
, 27
Samherji’s mandatory takeover bid of Eimskip
, 141–143
Samtok ahugafoks um afengis-og vimuefnavandann
, 169
Samtok Atvinnulifsins (SA)
, 167
Self-employed pilots
, 112
Ship disposal
, 151–154
laws pertaining to
, 154–155
Slysavarnarfelagid Landsbjorg
, 169
Social justice failures
, 43
Social media
, 27–28, 183, 191–192
Socially responsible investment
, 13
Soil Conservation Service of Iceland (SCSI)
, 162, 164–165
Sony Ericsson campaign
, 22–24, 26
Special Investigating Committee
, 1
Stakeholder involvement
, 22
Stakeholder theory
, 7–9, 17
Stewardship theory
, 17–18
Store and Office Workers’ Union (VR)
, 114
Student-centered learning
, 2
Sulfur Oxide emissions (SO emissions)
, 148
UK’s National Health Service (NHS)
, 178
Ultimate principle
, 32–33
Unemployment Insurance Fund
, 128
United Nation’s Sustainable Development Goals (SDGs)
, 159, 186
United Nations Framework Convention on Climate Change (UNFCCC)
, 158
University of Iceland
, 1–2, 171, 171, 174, 175, 176, 200, 202, 216, 221, 222
Unrelated diversification
, 14
Urdur Verdandi Skuld (UVS)
, 210
US National Institutes of Health (NIH)
, 200, 206
Utilitarianism
, 31, 224
acts vs. rule
, 32
criticisms
, 33
varieties
, 31–32