Navigating the Complexity of Entrepreneurial Ethics: A Systematic Review and Future Research Agenda

Abstract

Entrepreneurship is a multifaceted and constantly evolving process that is often marked by various challenges, such as environmental uncertainty, resource constraints, intense competition, and ambiguous roles. These complexities can give rise to ethical dilemmas, including conflicts of interest and unethical behavior, which can further be compounded by the incorporation of digital technology in entrepreneurship. Despite the growing recognition of the significance of entrepreneurial ethics, research in this area remains limited and fragmented. Therefore, this study aims to navigate the complexity of entrepreneurial ethics and address knowledge gaps by conducting a systematic review of the extant literature in the field of entrepreneurship, ethics, and management between 2003 and 2023 using the PRISMA protocol. The review focuses on three key aspects: (1) factors that shape entrepreneurial ethical perception and climate, (2) factors that influence entrepreneurial ethical decision making and behavior, and (3) the consequences of entrepreneurial ethical decisions and behavior. This study proposes future research avenues that can deepen our understanding of the interplay between digital technology and entrepreneurial ethics, stakeholder influence on ethical decision making, and the relationship between ethical leadership and entrepreneurial performance. Ultimately, the findings from this study provide a comprehensive framework for examining and comprehending the critical domain of entrepreneurial ethics, which can effectively address ethical dilemmas and establish socially conscious ventures that positively impact both the economy and society.

1. Introduction

The field of entrepreneurship is characterized by its dynamic and complex nature, which poses a plethora of challenges for new entrepreneurs. These challenges stem from the intricacies of the entrepreneurship ecosystem, which include environmental uncertainties, resource limitations, intense competition, and the ambiguous role of entrepreneurs [1]. These factors create ethical dilemmas that require careful consideration and thoughtful decision making. Ethical dilemmas arise when individuals or organizations face complex situations in which there is a conflict between different moral principles or values. The choices made in such dilemmas can have profound implications for individuals, communities, and society as a whole [1,2,3,4]. The advent of digital technologies has further complicated these ethical dilemmas by introducing external factors and linkages that require entrepreneurs to be more mindful of their ethical behavior. As a result, entrepreneurial ethics have emerged as a necessary norm for entrepreneurs, with scholars recognizing their significance for sustainable economic growth since the 1990s [5]. Longenecker et al. [6] were among the first to introduce the concept of entrepreneurial ethics, highlighting the propensity of entrepreneurs to prioritize their own interests over those of other stakeholders. Ethical behavior in entrepreneurship is grounded in adherence to social norms, moral principles, social responsibility initiatives, and codes of conduct, which provide the foundation for ethical conduct among entrepreneurs. Culture and ethics are deeply intertwined and have a profound influence on business enterprises. Two types of entrepreneurial ethics, macro-ethics, and micro-ethics, govern ethical relationships between and within businesses, shareholders, and employees [7,8]. Both macro-ethics and micro-ethics are essential in guiding ethical decision making in entrepreneurship. While macro-ethics addresses the broader societal impact and responsibilities of entrepreneurs, micro-ethics focuses on the internal dynamics and relationships within the business itself. By considering and integrating both dimensions, entrepreneurs can build sustainable and ethically responsible ventures that contribute positively to the welfare of society and the well-being of their stakeholders [9,10].

The undeniable importance of ethical behavior in entrepreneurship has long been recognized, yet extant research has revealed a disconcerting trend prevalent among entrepreneurs operating small businesses [11]. Typically, entrepreneurs exhibit a lack of attention to ethical challenges, which in turn engenders significant disparities in ethical attitudes and decision making between entrepreneurs and their non-entrepreneurial counterparts [12,13,14]. This reality can be largely attributed to the fact that entrepreneurs typically operate in high-stress business environments, wherein they struggle to find the necessary time and perspective for focused ethical reflection. In particular, entrepreneurs make choices and take actions that have far-reaching implications, often without the benefit of the moral guidance that established organizations enjoy [7,8]. Given that their decisions can either strengthen or seriously weaken a firm’s future business viability, the stakes are high. However, due to the long hours and isolated nature of their work, entrepreneurs may not adequately consider the ethical consequences of their decisions and their firm’s activities. This is especially concerning given that startups face complex ethical problems related to basic fairness, personnel and customer relationships, honesty in communications, distribution dilemmas, and a host of other challenges—many of which are novel to the young organization [15]. In light of these challenges, it is of paramount importance that we direct our attention toward their ethical conduct. A vital step towards this end is to explore the factors that influence entrepreneurial ethics and bridge the gaps in our knowledge by means of a systematic review of the extant literature on the subject. This endeavor holds the promise of affording us a more nuanced and inclusive comprehension of the ethical dilemmas confronting entrepreneurs, enabling us to formulate effective strategies for fostering ethical behavior and judicious decision making in the realm of entrepreneurship.

In recent years, the field of entrepreneurial ethics has garnered significant academic attention and has emerged as a robust area of study. This is evidenced by various initiatives to highlight entrepreneurship as a distinct area of research, such as research conferences, modifications to business school curricula, and the formation of specialized journals [16,17]. These initiatives have served to accentuate the relevance and significance of ethical reflection in modern business practices. The growth of entrepreneurial ethics as a research field highlights the need for a comprehensive understanding of the ethical quandaries encountered in entrepreneurship to address ethical dilemmas and cultivate socially responsible entrepreneurial conduct [18,19]. In their work, Daradkeh et al. [20] emphasize the significant role of ethics in guiding individual and collective behavior across diverse domains. The authors outline three key reasons that underscore the importance of ethics in this context. Firstly, ethics serves as a moral compass, providing a framework of principles and standards that aid individuals and societies in discerning between right and wrong. Secondly, ethics is closely linked to human welfare and well-being. Acting ethically promotes fairness, justice, and respect for the rights and dignity of individuals and communities. It encourages actions that contribute positively to the welfare of others, fostering trust, cooperation, and social cohesion. Lastly, ethics plays a crucial role in establishing and maintaining trust in social, professional, and business relationships. When individuals and organizations demonstrate ethical behavior, they establish credibility and reliability, cultivating trust among stakeholders.

Despite the significance and flourishing of research in entrepreneurial ethics, there remain three fundamental gaps in the literature that necessitate further scrutiny and exploration:

• First, previous studies (e.g., [21,22,23]) have highlighted that entrepreneurs encounter unique ethical dilemmas, exercise distinctive ethical judgments and behaviors, and may differ in their cognitive, ethical development in comparison to non-entrepreneurs. Nonetheless, an explanatory framework to elucidate these disparities has yet to be advanced.
• Second, despite the importance of ethical deliberations in entrepreneurship, the literature on the intersection of business ethics and entrepreneurship remains inadequate [24,25]. Consequently, there are fundamental questions about the relationship between the two fields, the potential for theoretical advancement, and the necessity for a thorough review of the literature on entrepreneurial ethics.
• Third, a comprehensive theoretical framework that explains the factors that influence ethical perception/climate, ethical decision making, and ethical behavior in the entrepreneurial context is still nascent and fragmented [15]. However, the field of entrepreneurial ethics holds immense potential to make significant contributions to wider disciplines such as ethics, entrepreneurship, and sustainable development, especially with the emergence of disruptive technologies, ethical predicaments faced by entrepreneurs, and the close correlation between entrepreneurial activities and environmental sustainability.

This study aims to comprehensively examine the existing academic literature on entrepreneurial ethics and develop a conceptual framework that explores the influence of individual, organizational, and environmental factors on ethical decision making and behavior in entrepreneurship. The motivation for this study stems from the complex and ever-changing nature of entrepreneurship, which brings various challenges such as resource constraints, environmental ambiguity, fierce competition, and uncertain roles, leading to ethical dilemmas, conflicts of interest, and unethical behavior, particularly with the integration of digital technology into entrepreneurship. Specifically, the study aims to address four primary research questions:

• RQ1: What is the current state and direction of research on entrepreneurial ethics?
• RQ2: What are the most significant concerns and recurring themes in the field of entrepreneurial ethics research?
• RQ3: What are the potential factors that may influence ethical perception and climate in entrepreneurship? and
• RQ4: What are the potential pathways for future research that can enhance our understanding of entrepreneurial ethics?

To answer these research questions, a systematic literature review (SLR) was conducted, which analyzed 75 articles from 24 reputable journals in the fields of management, entrepreneurship, and ethics, published between 2003 and 2023. To provide a comprehensive analysis of the literature, the study employed Gartner’s four-part framework, which is widely recognized as an effective analytical tool for researching ethics and the individual entrepreneur. This framework accounts for the significant variations among entrepreneurs and their ventures and provides a practical method for analyzing the numerous variables present during the new venture creation process. The study aims to address the gaps in knowledge by conducting a systematic review of prior studies on entrepreneurial ethics, emphasizing three critical areas: (1) the factors that shape the ethical mindset and environment of entrepreneurs, (2) the factors that influence ethical decision making and behavior in entrepreneurship, and (3) the consequences of ethical decision making and behavior in entrepreneurship. Moreover, the study aims to identify new research avenues to promote a comprehensive understanding of entrepreneurial ethics and foster socially responsible ventures that benefit both the economy and society.

By conducting a systematic review of entrepreneurial ethics literature, this study makes a noteworthy and substantive contribution to the scholarly discourse in three salient manners. Firstly, it furnishes a comprehensive and nuanced comprehension of the contemporary research landscape in this realm and elucidates the predominant themes and hurdles prevalent in extant studies on entrepreneurial ethics. By scrutinizing the literature, the study accentuates the intricacies and challenges encountered by entrepreneurs in the process of ethical decision making. Secondly, the study proposes research agendas that can advance the field of entrepreneurial ethics and promote socially responsible ventures that benefit both the economy and society. Lastly, this study emphasizes the importance of ethical behavior among entrepreneurs, which is crucial for the long-term sustainability and success of businesses. The present study bears notable implications for the research community, as the findings thereof may be harnessed to gain in-depth insights into the prevailing state of research on entrepreneurial ethics. Notably, these findings may serve as a springboard to formulate new research avenues and methodologies in this burgeoning field. Furthermore, the research agenda presented in this paper has the potential to bring valuable insights to practitioners who seek to elevate the entrepreneurial ethics discourse and promote ethical behavior among entrepreneurs.

The novelty and originality of this work lie in several key aspects:

• Comprehensive Examination: The study conducts a systematic literature review that comprehensively examines the existing academic literature on entrepreneurial ethics. By analyzing a substantial number of articles from reputable journals, the study aims to provide a thorough understanding of the current state and direction of research in the field.
• Conceptual Framework Development: The study goes beyond summarizing previous research and aims to develop a conceptual framework that explores the influence of individual, organizational, and environmental factors on ethical decision making and behavior in entrepreneurship. This framework aims to fill the gap in the literature by providing a comprehensive theoretical understanding of entrepreneurial ethics.
• Integration of Gartner’s Framework: The study incorporates Gartner’s four-part framework, which is widely recognized and used in entrepreneurship research, to analyze ethical decision making in the entrepreneurial context. By applying this framework, the study provides a practical and structured approach to understanding the ethical challenges faced by entrepreneurs.
• Identification of Research Gaps and Future Directions: The study identifies significant concerns and recurring themes in the field of entrepreneurial ethics and proposes research agendas to address knowledge gaps and promote further research in this area. This contribution is essential for advancing the understanding of ethical behavior in entrepreneurship and fostering socially responsible ventures.

The subsequent sections of this paper are structured as follows. Section 2 presents the research methodology of this study, which aims to address the initial research question regarding the present state and trajectory of research in the area of entrepreneurial ethics. Section 3 delves into the core issues and themes found in entrepreneurial ethics research, as determined by the thematic analysis conducted in response to the second research question. Section 4 scrutinizes the factors that potentially impact ethical perception and climate in entrepreneurship in response to the third research question. Section 5 proposes future agendas that could advance research on entrepreneurial ethics, building upon the synthesis of findings from the preceding research questions. Finally, Section 6 presents a summary of the study’s primary contributions, limitations, and possible avenues for future research.

2. Research Methodology

Amidst the increasing interest in research on entrepreneurial ethics, it is imperative to conduct a comprehensive and methodical evaluation of the available literature to develop a comprehensive understanding of the scope and breadth of research in this field. To achieve this objective, the present study utilizes the systematic literature review (SLR) methodology introduced by Colicchia et al. [26] while adhering to the guidelines for systematic reviews and meta-analyses outlined in (PRISMA) [27] (refer to Table S1 PRISMA Checklist in the Supplementary Materials). The purpose of utilizing the PRISMA protocol is to conduct a systematic review that adheres to predetermined criteria, including the systematic search, filtering, evaluation, interpretation, integration, and presentation of results obtained from multiple publicly available sources on the subject or field of interest. Therefore, a comprehensive body of literature on entrepreneurial ethics has been carefully examined, resulting in a comprehensive understanding of the relevant scholarly works in this particular field (Figure 1).

The systematic literature review (SLR) process in this study was divided into three distinct phases—planning, execution, and presentation, as illustrated in Figure 2. During the planning phase, meaningful research questions were formulated, which served as a guide for the subsequent review activities. The execution phase involved the development of a comprehensive protocol that outlined the methodology, inclusion and exclusion criteria, search strategy, and data extraction methods in detail. Finally, the presentation phase of the review involved a clear and concise explanation of the review’s findings, emphasizing the importance and generalizability of the research questions and recognizing the main contributors. The outcomes of the review provide a thorough understanding of the research topic and identify gaps in the existing literature that require further investigation.

2.1. Planning the Review

To commence the literature review, appropriate keywords were identified to facilitate the search for relevant studies. The search syntax employed was “(“entrepreneurship” or “entrepreneurship” or “entrepreneur”) and (“ethics” or “morality”)”. Inclusion and exclusion criteria were meticulously defined, and four prominent databases, namely Scopus, Web of Science, ProQuest, and EBSCO, were chosen as they are known to be crucial sources of research on entrepreneurial ethics. Studies were screened for eligibility based on the predetermined criteria, and the full text of studies that appeared relevant was reviewed. Studies that met the eligibility criteria were subsequently evaluated for quality and robustness. Before finalizing the sample of studies chosen for the systematic literature review (SLR), a backward citation search and a forward citation search were also conducted.

The current study adhered to a set of three stringent criteria to guide the literature search process:

• Firstly, a clear definition of entrepreneurial ethics was established. This study defines entrepreneurial ethics as the careful consideration of social norms, stakeholder welfare, and value creation by entrepreneurs in the entrepreneurial process, drawing upon the rich literature on entrepreneurial ethics [5,28].
• Secondly, sources for the review were identified based on well-respected journals in the fields of entrepreneurship, ethics, and management. The entrepreneurship journals include Entrepreneurship Theory and Practice, Journal of Business Venturing, Journal of Strategic Entrepreneurship, Small Business Economics, International Journal of Small Business, and the Journal of Small Business Management. Ethics journals include the American Journal of Bioethics, Journal of Business Ethics, Journal of Responsible Innovation, Science and Engineering Ethics, Business Ethics Quarterly, Nursing Ethics, BMC Medical Ethics, Journal of Law and Bioscience, Environmental Values, and Ethics and Information Technology. Management journals include the Journal of Management, Academy of Management Review, Administrative Science Quarterly, Academy of Management Journal, Journal of Strategic Management, Journal of Management Studies, Management Science, and Organization Science.
• Thirdly, the review commenced from the year 2003, in line with [5] prior research on entrepreneurial ethics. The Web of Science Core Collection database was utilized for this study and was searched using exact matches of titles, abstracts, and keywords. The literature search encompassed publications from 2003 to 2023.

2.2. Executing the Review

The systematic literature review (SLR) process involved a methodical search of designated databases using the identified search syntax, with relevant studies identified from the search results and those not meeting the inclusion criteria being excluded. Citation chaining search involved examining additional studies by following the references cited in the selected studies. In accordance with established inclusion and exclusion criteria, studies published between 2003 and 2023, studies published in conference proceedings and journals, and full-texts of studies that are available in English were considered.

The literature review process consisted of several steps. Initially, a preliminary search was conducted on Google Scholar using the search phrase “entrepreneurial ethics” to identify relevant keywords for the study. Following the approach of Vallaster et al. [1], related terms were extracted from the first 100 search results. Prior research by Valentine et al. [4] highlighted the practical importance of entrepreneurial ethics in innovation and entrepreneurship management, including the modeling of unique moral challenges faced by entrepreneurs. The analysis of co-occurring keywords revealed that terms such as “entrepreneurial morality,” “entrepreneurial organizations,” “entrepreneurship research,” “startups,” and “entrepreneurship” often represent different aspects of “entrepreneurial ethics” in the literature. Furthermore, Miles et al. [29] identified key components of entrepreneurial ethics, including the individual entrepreneur, the relationship between the entrepreneur and society, the entrepreneurial organization, the entrepreneurial environment, the moral implications of entrepreneurial change and technological development on individuals and communities, and the new venture creation process.

The literature search was conducted by combining terms related to entrepreneurship (e.g., “entrepreneurship,” “entrepreneurial,” “entrepreneur,” “business owner(s),” “founder(s),” “self-employment,” “self-employed,” “start-up,” and “new venture(s)”) with terms related to ethics (e.g., “ethic,” “ethics,” “ethical,” “morality,” and “morals”) and searching through the title, abstract, and keyword fields. To mitigate potential bias in the selected studies and analysis, two separate researchers conducted a thorough review of the titles, abstracts, and full texts of each article. Any articles that were deemed irrelevant to the study of entrepreneurial ethics were excluded from the analysis. Additionally, any articles considered controversial were subject to consultation with a third researcher to determine their inclusion or exclusion. The exclusion criteria encompassed duplicate studies, studies lacking models or frameworks, and studies that did not meet the required quality evaluation standards.

A total of 195 relevant studies were identified from the four major databases, and 75 studies met the inclusion criteria after applying the exclusion criteria. One study was added from a forward search, and two studies were added from a backward search. The present study utilized the Web of Science core collection for the search and conducted it using the exact match of titles, abstracts, and keywords. The study carefully defined the inclusion and exclusion criteria and selected the most relevant databases to ensure the resulting sample is of high quality and representative of the field of entrepreneurial ethics.

2.3. Presenting the Review

The literature review presentation begins by examining the earliest article included in the sample, which was published in 2003, indicating that the subject matter is relatively new to the literature.

Table 1. Overview of entrepreneurship ethics research, 2003–2023.

Factors/Dimension	References	Research Method	Journal
Factors influencing Entrepreneurial Ethical Perception and Climate	[5]	Conceptual	Journal of Business Ethics
	[30]	Quantitative	Journal of Business Ethics
	[31]	Quantitative	Journal of Business Ethics
	[32]	Conceptual	Journal of Business Ethics
	[33]	Conceptual	Journal of Business Ethics
	[34]	Conceptual	Journal of Business Ethic
	[35]	Quantitative	Industrial Marketing Management
	[36]	Qualitative	Journal of Business Ethics
	[37]	Conceptual	Journal of Business Venturing
	[38]	Conceptual	International Entrepreneurship and Management Journal
	[39]	Qualitative	Journal of Business Ethics
	[40]	Qualitative	Journal of Business Ethics
	[41]	Quantitative	Journal of Business Ethics
	[11]	Qualitative	Society and Business Review
	[42]	Conceptual	Annals of Tourism Research
	[4]	Qualitative	Journal of Business Research
	[43]	Qualitative	Journal of Business Ethics
	[44]	Quantitative	Journal of Small Business Management
	[45]	Qualitative	Journal of Business Ethics
	[46]	Qualitative	Technological Forecasting and Social Change
	[24]	Quantitative	Journal of Small Business Management
	[8]	Quantitative	Journal of Knowledge Management
	[12]	Qualitative	International Journal of Entrepreneurial Behavior & Research
Factors influencing Ethical Decision Making and Behavior in Entrepreneurship	[29]	Quantitative	Journal of Business Ethics
	[34]	Conceptual	Journal of Business Ethics
	[47]	Quantitative	Journal of Business Ethics
	[28]	Quantitative	Journal of Business Ethics
	[48]	Conceptual	Journal of Business Ethics
	[49]	Quantitative	The International Journal of Entrepreneurship and Innovation
	[50]	Qualitative	Business & Professional Ethics Journal
	[51]	Qualitative	Journal of Business Ethics
	[52]	Quantitative	International Journal of Entrepreneurship and Small Business
	[53]	Quantitative	Journal of Small Business Management
	[54]	Conceptual	Journal of Business Ethics
	[55]	Conceptual	Journal of Business Venturing
	[56]	Qualitative	Journal of Business Ethics
	[2]	Qualitative	Journal of Business Ethics
	[57]	Conceptual	Social Media + Society
	[58]	Qualitative	Systems Research and Behavioral Science
	[59]	Quantitative	Journal of Psychoeducational Assessment
	[60]	Qualitative	Journal of Business Research
	[61]	Qualitative	Journal of Business Venturing Insights
	[25]	Qualitative	Entrepreneurship Education and Pedagogy
	[19]	Qualitative	International Journal of Management Reviews
	[18]	Quantitative	International Journal of Ethics and Systems
	[17]	Quantitative	Journal of Services Marketing
	[62]	Qualitative	Journal of Business Ethics
	[15]	Qualitative	Journal of Business Ethics
	[63]	Quantitative	Journal of White Collar and Corporate Crime
	[14]	Quantitative	Review of Managerial Science
	[13]	Quantitative	Quality & Quantity
Outcomes/Consequences of Ethical Entrepreneurial Decisions and Behavior	[34]	Conceptual	Journal of Business Ethic
	[64]	Quantitative	Journal of Management Inquiry
	[65]	Qualitative	Journal of Business Ethics
	[66]	Quantitative	Entrepreneurship & Regional Development
	[67]	Conceptual	Journal of Business Ethics
	[68]	Conceptual	Business & Professional Ethics Journal
	[50]	Qualitative	Business & Professional Ethics Journal
	[52]	Quantitative	International Journal of Entrepreneurship and Small Business
	[69]	Qualitative	Journal of Enterprising Culture
	[38]	Conceptual	International Entrepreneurship and Management Journal
	[70]	Quantitative	The Journal of High Technology Management Research
	[10]	Qualitative	Journal of Business Ethics
	[3]	Qualitative	Entrepreneurship Theory and Practice
	[71]	Quantitative	Journal of Business & Industrial Marketing
	[72]	Quantitative	Journal of Business Ethics
	[73]	Quantitative	Systems
	[74]	Quantitative	Cogent Business & Management
	[75]	Quantitative	Journal of Business Venturing Insights
	[76]	Quantitative	Sustainability
	[77]	Qualitative	Sustainability Science
	[78]	Quantitative	Journal of Entrepreneurship in Emerging Economies
	[23]	Quantitative	Assessment & Evaluation in Higher Education
	[22]	Quantitative	Sustainability
	[21]	Qualitative	Entrepreneurship Theory and Practice
	[79]	Quantitative	Journal of Business Venturing

presents a comprehensive overview of entrepreneurship ethics research conducted over the past two decades. The table showcases the wide range of research methods employed and the diverse journals that have published these studies. The annual distribution of studies indicates that the subject has gained prominence in recent years. Additionally, an increase in the average citations received by articles in the sample indicates that the current systematic literature review (SLR) on entrepreneurial ethics is rapidly gaining prevalence in academic discourse.

The analysis of Table 1 demonstrates a significant increase in the number of articles focusing on entrepreneurial ethics starting from 2005. This rise can be attributed to a Special Issue organized by the Journal of Business Ethics, which aimed to explore ethical perspectives in entrepreneurship and advocated for a broader application of ethical theories in the field [32,33,34]. Subsequently, entrepreneurship and management journals have increasingly recognized the importance of entrepreneurial ethics as a burgeoning interdisciplinary research area since 2009. Notably, the Journal of Business Venturing, a prestigious entrepreneurship journal, dedicated a Special Issue to the discussion and promotion of entrepreneurial ethics in 2009, leading to a notable surge in related article publications [37,55]. In these studies, researchers employed various research methods, including conceptual analysis, quantitative surveys, and qualitative interviews. The findings from these studies were disseminated through reputable journals such as the Journal of Business Ethics, Industrial Marketing Management, Journal of Business Venturing, and Annals of Tourism Research. This body of research significantly contributes to our understanding of how different factors shape ethical perceptions and the overall ethical climate within entrepreneurial settings. Furthermore, these studies shed light on the intricate interplay between individual, organizational, and contextual factors that exert influence on ethical decision making and behavior in entrepreneurial contexts [2,4,28,39,60]. They also provide valuable insights into the effects of ethical actions in entrepreneurship, encompassing aspects such as organizational performance, stakeholder relationships, and sustainability considerations [54,62,72].

Table 2. Summary of studies by research method.

Research Method	Total	Pct. (%)
Conceptual	20	33.33%
Qualitative	30	50.00%
Quantitative	15	16.67%

outlines the summary of studies based on the research methods employed. Conceptual research, characterized by theoretical and conceptual exploration, constituted 33.33% of the total studies, indicating its significant presence in the domain. Qualitative research, involving in-depth analysis and interpretation of qualitative data, accounted for 50% of the studies, showcasing its prominence in capturing nuanced insights. On the other hand, quantitative research, which focuses on numerical data analysis and statistical relationships, comprised 16.67% of the studies. These findings highlight the diversity of research approaches and the utilization of various methods in studying the subject matter.

Table 3. Summary of studies classified by continent.

Continent	America	Europe	Asia	Oceania
Pct. (%)	31.66%	19.25%	33.75%	15.34%

presents a summary of studies classified by continent, shedding light on the geographical distribution of research efforts. The data reveal that studies conducted in America accounted for 31.66% of the total, indicating a strong research presence in the region. Europe accounted for 19.25% of the studies, while Asia represented 33.75%, reflecting a significant interest and engagement from researchers in these regions. Oceania, encompassing countries in the Pacific region, contributed 15.34% to the total studies. This distribution highlights the global nature of the research conducted in the field and emphasizes the importance of considering diverse cultural and regional contexts in understanding entrepreneurial ethics.

Table 4. Summary of studies classified by year of publication.

Year	2003–2007	2008–2012	2013–2017	2018–2023
Pct. (%)	20%	22.67%	25.33%	32%

classifies the studies based on the year of publication, offering insights into the temporal trends in research activity. The data reveal that studies published between 2003 and 2007 accounted for 20% of the total, indicating a relatively smaller proportion during the initial years. However, research output increased in subsequent years, with studies published from 2008 to 2012 representing 22.67% of the total. The period from 2013 to 2017 exhibited a further rise, constituting 25.33% of the studies. Notably, the most recent period, from 2018 to 2023, witnessed a significant increase, with studies published during this time comprising 32% of the total. These findings suggest a growing interest in entrepreneurial ethics research over time, demonstrating an expanding body of knowledge and an increased focus on recent developments and trends in the field.

The study of entrepreneurial ethics has undergone significant changes in research methods and topics since the emergence of the field in 2003.

Table 5. Literature review themes/dimensions and their distribution.

Literature Review Themes	No. of Studies	Pct. (%)
Factors that influence entrepreneurial ethics perception/climate	27	36%
Factors that influence entrepreneurial ethical decision making and behavior	28	37.33%
Outcomes of entrepreneurial ethical decision making and behavior	20	26.67%

presents the distribution of literature review themes or dimensions related to entrepreneurial ethics. The findings suggest a balanced focus on understanding the cognitive, decision making, and behavioral aspects of ethics in entrepreneurship and recognizing the significance of ethical behavior for entrepreneurial success and sustainability.

Figure 2 depicts the distribution of studies according to both the year of publication and the research method employed. In the early stages of the field, when it lacked credibility, pioneering articles were necessary to investigate the fusion of entrepreneurship and ethical research [28,29,69]. Consequently, conceptual research emerged as the dominant method utilized between 2003 and 2008, as evidenced by studies such as [31,33,50,66]. As the field progressed and gained maturity, there was an increasing prevalence of quantitative research. This shift aimed to establish causal relationships between entrepreneurial ethical perception, behavior, and outcomes while broadening the application of pertinent theories. Notably, situational experiments and qualitative research have also been introduced since 2009, leading to the further diversification of research methods in the domain of entrepreneurial ethics [35,37,38,67,70].

Scholars have explored ethical issues in various entrepreneurial contexts, such as new ventures, family businesses, entrepreneurial financing, social entrepreneurship, corporate entrepreneurship, emerging and transitioning economies, and the sharing economy. Previous studies have shown that ethical issues in entrepreneurship are highly context-dependent, revealing the complexity and diversity of ethical issues in entrepreneurship and highlighting the significance of contextual factors in researching ethical issues [1,39,42]. Recently, sustainable entrepreneurship and ethical dilemmas arising from emerging technologies have emerged as emerging topics in entrepreneurial ethics [8,15,21]. The escalating environmental degradation and climate change have prompted scholars to investigate the role of entrepreneurs in promoting environmental regeneration and protection [45,63,80]. Meanwhile, the emergence of new technologies has brought about new ethical challenges, such as data protection and privacy issues [19,25,46]. Scholars and practitioners have raised concerns and deliberated over ethical issues associated with technology in entrepreneurship due to the lack of ethical standards and social norms governing these technologies in the market [8,13,16,81].

3. Findings

The present study presents its findings by categorizing the research themes into two parts: orientation and theoretical contributions (see Figure 3). The literature review includes three primary themes: (1) the factors that influence entrepreneurial ethics perception/climate, (2) the factors that influence entrepreneurial ethical decision making and behavior, and (3) the outcomes of entrepreneurial ethical decision making and behavior. Currently, the literature is evenly distributed across these three themes, with the largest proportion of the literature (40% of the total) dedicated to the factors that influence entrepreneurial ethical decision making and behavior, comprising 28 articles. The factors that influence entrepreneurial ethics perception/climate and the outcomes of entrepreneurial ethical decision making and behavior are represented by 27 and 20 articles, respectively. Some literature addresses two themes concurrently [18,59,73], with a total of five articles falling into this category.

3.1. Factors Influencing Entrepreneurial Ethical Perception and Climate

The role of ethical perception in shaping ethical decision making and behavior in entrepreneurship is a topic of significant scholarly interest. In view of the potential for disregard of ethical considerations at the cognitive level to result in unethical behavior, researchers have focused on identifying and examining the factors that influence ethical perception in the entrepreneurial context. Previous research [1,43] has primarily explored these factors from three perspectives, namely individual, organizational, and environmental, with particular emphasis on the individual level.

At the individual level, disparities in ethical perception have been identified between entrepreneurs and non-entrepreneurs. Scholarly inquiries have delved into the contrasting ethical attitudes and moral imagination exhibited by entrepreneurs in comparison to managers or MBA students, elucidating the underlying factors responsible for these distinctions. For instance, Flores-Yeffal et al. [57] found that entrepreneurs exhibit higher ethical attitudes than managers, which can be attributed to the influence of stakeholders on their ethical decision making. In contrast, managers’ decision making is more significantly influenced by owners and top management. Entrepreneurs tend to adhere to their personal values in decision making and take greater personal responsibility for outcomes. Furthermore, in uncertain and ambiguous entrepreneurial contexts, entrepreneurs demonstrate higher levels of moral imagination in decision making than MBA students, as noted by Marta et al. [53]. Specifically, entrepreneurs have higher moral sensitivity, consider issues from a long-term perspective, are more capable of considering the perspectives of others, and are more likely to propose and consider “third options.” Although these studies have identified the distinctive ethical decision making logic of entrepreneurs, they have not explored the underlying reasons for such uniqueness.

In addition, differences in ethical perception between entrepreneurs and the factors influencing them have been identified in prior research. Bosse et al. [21], based on the theory of social cognitive self-regulation, proposed that self-regulatory cognitive characteristics can affect entrepreneurs’ moral awareness, including entrepreneurial self-efficacy, promotion pride, and prevention pride. Entrepreneurs’ self-regulatory characteristics impact the types of ethical issues and objects that they pay attention to, as well as the means they choose to pursue entrepreneurial goals. Future research can explore how entrepreneurs’ self-regulatory characteristics influence the formation of collective goals, ethical identity, and behavioral norms in entrepreneurial enterprises. Furthermore, Dua et al. [18] identified pressure as a factor affecting entrepreneurs’ ethical standards based on strain theory. This pressure mainly stems from entrepreneurs adopting legitimate means but failing to achieve their goals, leading to negative attitudes towards social norms and expectations and a subsequent adjustment of their ethical standards. Moreover, research on the demographic characteristics of entrepreneurs can inform ethical perception.

At the organizational level, the influence of enterprise age and size on ethical climate has been explored by Goodarzi et al. [9]. The authors found that older enterprises tend to exhibit higher levels of legal and self-interest-based ethical climates, while the level of caring ethical climates decreases. In contrast, younger enterprises tend to exhibit lower levels of caring ethical climates and higher levels of self-interest-based ethical climates. This can be attributed to the fact that in the early stages of enterprise development, survival takes precedence over personal gain for individual members. However, as the study used cross-sectional data, establishing a causal relationship between enterprise age and ethical climate remains inconclusive. Therefore, the authors suggest that future research should employ longitudinal data to track dynamic changes in ethical climate during enterprise development.

Furthermore, Donald et al. [30] used a tracking survey method to examine the ethical standards of large and small businesses in the United States between 1985 and 2001. The study revealed a significant difference in ethical standards between large and small enterprises in 1993 but no significant difference in 1985 and 2001. The authors suggest that future research should focus on examining the impact of enterprise size on ethical climate (standards) in specific contexts, as relying solely on overall ethical indices may not reveal differences in ethical climate based on scale.

At the environmental level, investigating the influence of institutional and cultural environments on entrepreneurs’ ethical perception is a crucial area of research. Bucar and colleagues (4) conducted a study on the ethical attitudes of entrepreneurs in the United States, Russia, and Slovenia using Integrative Social Contract Theory [17,57]. The findings showed that American entrepreneurs held the highest level of ethical attitudes, while Russian entrepreneurs demonstrated the lowest. The authors suggest that this difference is due to the significant influence of competitive market economies on American entrepreneurs, where unethical behavior can lead to dissatisfaction and condemnation from customers. In contrast, Russian entrepreneurs operate in a regulatory environment with less concern for ethical issues, and their prioritization is survival over ethics, given the challenging economic conditions they face.

In a related study, Kaptein [2] examined the impact of post-materialism culture on entrepreneurial value creation objectives. They found that entrepreneurs in countries with post-materialism cultures prioritize social and environmental value objectives above economic ones compared to countries with materialism-oriented cultures. Post-materialism culture prioritizes values such as humanism, environment, love, respect, and self-realization. Under the advocacy of post-materialism cultural values, entrepreneurs are more likely to care about the welfare of others and the natural environment and emphasize social and environmental values when setting entrepreneurial goals.

In their study, Dudek et al. [82] emphasize the critical role of inclusive social responsibility within the context of entrepreneurial ethics. This aspect is instrumental in addressing the challenge of achieving maximum inclusion and active participation of individuals from all segments of society in economic activities. By actively promoting inclusivity, entrepreneurial ethics seek to improve employment opportunities, foster social responsibility, and enhance social and territorial cohesion. This inclusive approach acknowledges the significance of engaging individuals from diverse backgrounds and socio-economic strata, with the ultimate goal of establishing a more equitable and cohesive society. Through the adoption of ethical practices, entrepreneurs have the potential to contribute to the development of an inclusive economic environment that values and integrates the perspectives, talents, and contributions of all members of society.

3.2. Factors Influencing Ethical Decision Making and Behavior in Entrepreneurship

Ethical decision making and behavior are critical components of success in the realm of entrepreneurship. While previous research [15,16,68] has emphasized the crucial role of an individual’s ethical perception in determining their actions, the unpredictable and dynamic nature of entrepreneurial environments may lead entrepreneurs to deviate from ethical standards. As a result, scholars have sought to investigate the various factors that shape ethical decision making and behavior during the entrepreneurial process, as well as the ethical dilemmas encountered by entrepreneurs. Therefore, this study aims to analyze the individual, organizational, and environmental factors that influence ethical decision making and behavior in entrepreneurship.

At the individual level, ethical perception plays a crucial role in entrepreneurial opportunity identification and evaluation. Marta et al. [53] proposed that ethical perception may hinder the identification of entrepreneurial opportunities by occupying a central position in the network and leading to blind spots in information search. They suggest that shifting ethical perception from a central mode to a network perspective and from conflict and power to shared expectations, trust, and cooperation, may aid in identifying opportunities. Nylund et al. [60] found that the stronger the entrepreneur’s pro-environmental values, the more likely they are to consider the harmfulness of entrepreneurial opportunities to the natural environment when evaluating their attractiveness. Power et al. [42] suggested that an entrepreneur’s creativity may influence opportunity evaluation, with those possessing stronger creative thinking more likely to find excuses for environmentally harmful behavior. Rawhouser et al. [3] found that empathetic entrepreneurs are more likely to make sustainable entrepreneurial decisions. However, the impact of ethical perception on opportunity development has yet to be explored, including the potential consequences of an entrepreneur overestimating the attractiveness of environmentally harmful opportunities. Further research could investigate the influence of ethical perception on both opportunity evaluation and development separately.

In previous research, various factors have been explored in relation to the unethical behavior of entrepreneurs, particularly from the perspective of human capital and personal motivation [14,50,77,83]. Suriyankietkaew [78] studied the relationship between education level and bribery behavior among entrepreneurs in transition economies, where weak formal institutions may compel entrepreneurs to resort to bribery to obtain resources and legitimacy for their businesses. Contrary to prior research that suggests a positive correlation between education and moral development [8,25,74], the study found that educated entrepreneurs were more likely to engage in bribery with government officials. This finding was attributed to the complexity and uncertainty of bribery behavior, which may require cognitive and decision making skills possessed by educated entrepreneurs [23]. Furthermore, the study examined the impact of informal education, such as business training, on bribery behavior and suggested that the competitive strategies emphasized in such training may encourage opportunistic and selfish behavior among entrepreneurs. The study did not find a significant relationship between prior work experience and bribery behavior. Xu et al. [22] investigated the origins of unethical decision making among entrepreneurs from the perspective of individual motivation and moral disengagement. The study found a positive correlation between financial gain motivation and moral disengagement and the positive impact of moral disengagement on unethical decision making among entrepreneurs. However, the study did not find a significant relationship between self-actualization motivation and moral disengagement among entrepreneurs.

At the organizational level, Zardini et al. [12] explored the impact of corporate performance on entrepreneurial opportunistic behavior and discovered a negative correlation between firm performance and unethical conduct. The study attributed this finding to the strain theory, which posits that entrepreneurs are more likely to engage in unethical behavior when they experience pressure due to poor corporate performance and legitimate means are insufficient to achieve their objectives. However, the authors also acknowledge that the relationship between corporate performance and ethical misconduct may be bidirectional, and two alternative explanations cannot be ruled out: (1) unethical behavior by the firm may lead to enhanced corporate performance, reducing the demand for unethical behavior; (2) due to poor performance resulting from unethical behavior, entrepreneurs may reduce their ethically questionable conduct. To address these limitations, future research could employ a qualitative approach to uncover the underlying mechanisms behind entrepreneurial ethical misconduct.

Another study by Riedy [77] examined the relationship between failure risk and opportunistic behavior in new ventures and found that entrepreneurs were more likely to adopt opportunistic behavior as the risk of failure increased. The study explained this phenomenon from the perspective of the behavioral decision theory, suggesting that as failure risk increases, entrepreneurs’ decision making reference point shifts towards how to mitigate failure risk in new ventures, leading to a greater likelihood of adopting opportunistic behavior.

Paramita et al. [75] conducted research on the influence of firm size and ownership type on bribery behavior and its implications for entrepreneurial ethics. Drawing on bargaining theory and agency theory, the study found that small and medium-sized enterprises with sole proprietorship are more likely to engage in bribery. Previous research has explored the impact of family ownership and control [6,9,14,69,84,85] on entrepreneurial misconduct in the context of family businesses. Harvey et al. [72] investigated the effect of family ownership on unethical behavior in small businesses and found that family ownership has a significant inhibitory effect on such behavior, as family ownership can enhance monitoring mechanisms and reduce the likelihood of unethical conduct. The preservation of social and emotional wealth and intergenerational transfer also drives family businesses to avoid the risks associated with unethical behavior. Additionally, the study proposes that the age of the enterprise and the age of the owner may moderate the relationship between family ownership and unethical behavior. Specifically, the inhibitory effect of family ownership on unethical behavior in enterprises is stronger as the enterprise becomes more mature and the owner becomes older. Hota [62] further examined the impact of family control on bribery behavior in entrepreneurial ventures and found that family control of primary decision making power can inhibit bribery behavior, as family control seeks to protect social capital. These findings provide insights into the role of firm characteristics in shaping unethical behavior among firms and underscore the importance of family ownership and control in promoting ethical behavior in entrepreneurial ventures.

At the environmental level, research has explored the impact of industry environment on entrepreneurs’ unethical decision making and behavior. Mia et al. [73] conducted a study on the influence of industry environment on entrepreneurs’ bribery behavior and found that entrepreneurs in the service industry were more likely to engage in bribery. The study is based on the theory of deviance and suggests that entrepreneurs in the service industry, facing challenges such as short investment cycles and declining financial returns due to hostile environments, are more likely to resort to bribery to achieve their goals. Riedy [77] investigated the relationship between environmental dynamism and entrepreneurs’ adoption of ethically questionable behavior and found that environmental dynamism has a negative impact on entrepreneurs’ ethical behavior. This study also provides an explanation based on the theory of deviance, which suggests that encountering resource obstacles during goal pursuit is one of the key reasons for individuals to engage in inappropriate behavior. Entrepreneurs in highly dynamic entrepreneurial environments are more likely to view the environment as a potential opportunity for growth, thereby reducing the likelihood of engaging in ethically questionable behavior. Additionally, Suriyankietkaew [78] found that entrepreneurs’ perception of industry munificence affects their assessment of entrepreneurial opportunities. In industries with abundant resources, entrepreneurs have multiple paths for survival and development, making environmentally damaging entrepreneurial opportunities unnecessary risks.

Furthermore, Valentine et al. [4] suggest that technological change often disrupts traditional consumption patterns and industry structures, becoming a driving force for entrepreneurial opportunities and social benefits. However, the application of new technologies also faces ethical dilemmas. The study conducted by Pascucci et al. [76] specifically describes three cases of internet-based technological innovation, including internet pharmacies, music file sharing, and spam email. The study extends the discussion on the ethical dilemmas faced by entrepreneurs due to the emergence of accessible internet technology under existing institutional norms and regulations, specifically regarding how to govern productive, unproductive, and destructive entrepreneurial activities brought about by the legitimacy of technology. Based on institutional theory, this study proposes a key challenge faced by newcomers, incumbents, and other stakeholders in understanding the relationship between technological innovation and social and political legitimacy. The ethical issues of entrepreneurship under emerging technologies have attracted widespread attention among scholars. The new technological paradigm brought about by emerging technologies has impacted existing norms, and applying new ethical standards to regulate emerging technologies is a critical challenge [8,25].

3.3. Consequences of Ethical Entrepreneurial Decisions and Behaviors

In the entrepreneurial process, environmental uncertainty, scarce resources, and intense competition often present entrepreneurs with an ethical dilemma between pursuing personal or business interests and adhering to ethical norms, resulting in some entrepreneurs resorting to unethical behavior [1,24,71]. The adoption of unethical behavior by entrepreneurs can have significant negative consequences for both the firm and society at large [23]. Previous research has investigated the effects of ethical entrepreneurial behavior at the individual, organizational, and environmental levels.

At the individual level, the impact of unethical behavior on the stakeholder relationships of entrepreneurs has been the subject of scholarly inquiry. Entrepreneurs may engage in ethically dubious behaviors to gain legitimacy for their nascent enterprises, which creates a trust conflict between the entrepreneur and the stakeholders. Li et al. [58] introduced the notion of the “legitimacy lie” and established acceptable ethical boundaries for entrepreneurs to pursue legitimacy through ethical frameworks based on utilitarianism and deontology. During the financing process, entrepreneurs may lie to investors to increase their chances of obtaining resources. Kaptein [2] explored the conditions under which investors tolerate such lies and maintain a cooperative relationship with entrepreneurs, drawing on evolutionary psychology, forgiveness, and stakeholder theory. Power et al. [42] examined the impact of investors’ perception of unethical behavior on the conflict management strategies employed by stakeholders and found that such perceptions increase the likelihood of conflict escalation and exit from the cooperative relationship. Slavec Gomezel et al. [14], using a multi-principal-agent perspective, explored the impact of ethical reputation on investors’ willingness to cooperate with entrepreneurs and found that investors’ past unethical behaviors negatively affect entrepreneurs’ willingness to cooperate. It is worth noting that the severe consequences of rejecting financing, such as bankruptcy, may alter entrepreneurs’ willingness to cooperate with investors, and they may become more tolerant of investors’ ethical reputations. Furthermore, entrepreneurs with a high fear of failure tend to avoid cooperating with investors who have a poor ethical reputation.

At the organizational level, the impact of the unethical behavior of entrepreneurs on corporate performance and image has been the subject of inquiry. Surie et al. [36] investigated the relationship between entrepreneurial bribery behavior and entrepreneurial performance, revealing a non-monotonic relationship between bribery and corporate performance. The study revealed that while entrepreneurs may use bribery to obtain higher levels of social capital, especially for new ventures, in the long-term perspective, bribery may lead to congestion effects and opportunity costs. This results in improper resource allocation, inhibiting the company’s investment in innovation activities and covering less of the benefits brought by entrepreneurial activities. Furthermore, Xu et al. [22], using Stimulus–Response Theory and Balance Theory, found that once the founder’s unethical behavior is exposed to the public, it not only affects the personal image of the entrepreneur but also has a negative impact on the public image of the company.

The role of ethical practices of entrepreneurs in entrepreneurial success has also been explored at the organizational level. Anderson et al. [66] studied the impact of ethical practices and social responsibility of entrepreneurial ventures on financial performance, non-financial performance, and competitive performance. The study found that ethical practices of entrepreneurial ventures have a positive effect on financial and non-financial performance as well as competitive performance, while the impact of social responsibility is not significant. The researchers suggested that in emerging economies such as Malaysia, entrepreneurial ventures are aware of the serious consequences of not adopting ethical practices but lack attention to social issues, resulting in a lack of social responsibility in the company.

At the social and economic level, the role of entrepreneurial ethics in macroeconomic development has received increasing attention in recent years. Bakry et al. [44] proposed that the level of ethical attitudes in a region impacts the efficiency of economic interactions within the region, as compared through international comparisons. The authors compared the level of ethical attitudes and economic development indicators in the United States, Russia, and Slovenia, using economic development indicators to compare the efficiency of economic interactions. They found that the United States has a high level of ethical attitudes and the highest economic development indicators among the three countries, suggesting a positive relationship between regional ethical attitudes and the efficiency of economic interactions. Similarly, Ahsan [43] studied the relationship between national control of corruption and regional entrepreneurial/innovative vitality and found that controlling corruption has a positive impact on regional entrepreneurial/innovative vitality. The authors suggest that controlling corruption increases individuals’ trust in national and market institutions, leading them to believe that government agencies can fairly execute laws and trade rules. This trust promotes the efficiency of regional economic interactions and enhances regional entrepreneurial/innovative vitality.

Furthermore, entrepreneurship has been recognized as a key factor in alleviating poverty. Bhatt [45] highlighted the role of ethical entrepreneurship in poverty alleviation by introducing the entrepreneurial activities of the Fair-Trade Organization. This organization builds a sales platform connecting global vulnerable production groups and consumers, helping vulnerable production groups find markets for handicrafts, agricultural products, and more, and providing consumers with a channel for poverty alleviation. However, entrepreneurship has also been linked to social problems such as income inequality. Bull et al. [10] studied Uber and revealed the “anti-labor behavior” of entrepreneurship in the sharing economy. On the Uber platform, workers are viewed as independent contractors (micro-entrepreneurs) rather than employees of the company, which deprives them of employee rights stipulated in labor laws while providing them with work freedom. According to Chikweche et al. [11], entrepreneurship can contribute to social problems such as income inequality when it favors strong stakeholders, such as shareholders and company executives, in value distribution, thus sacrificing the interests of weaker stakeholders, such as employees. To address this issue, Ahsan proposed a new organizational development model based on the stakeholder theory framework, which aims to promote fair value distribution among all stakeholders and protect the rights of weaker stakeholders. This model intends to encourage ethical entrepreneurship that contributes not only to economic development but also to social development.

4. Future Research Agenda

Based on the preceding discussions, this paper synthesizes the factors that influence entrepreneurial ethics perception and climate, the factors that influence entrepreneurial ethics decision making and behavior, and the outcomes of entrepreneurial ethics decision making and behavior, situating them within an entrepreneurial context, and constructing a framework for entrepreneurial ethics research, depicted in Figure 4. Informed by the critical research inquiries and cutting-edge themes examined in the preceding sections, this study subsequently delineates the future research directions for entrepreneurial ethics.

4.1. Identifying and Recognizing the Complexity of the Entrepreneurial Ethical

The complexity of ethical contexts in entrepreneurship has been recognized in prior research, with some scholars emphasizing that ethical issues arise not from individual differences but rather from the unique features of entrepreneurial contexts [16,56,79,86]. Examining ethical issues in specific entrepreneurial contexts is therefore critical. However, current discussions of ethical contexts in entrepreneurship have mostly focused on interpreting the phenomena of ethical issues. While these studies have provided fragmented evidence of the uniqueness of ethical issues in different entrepreneurial contexts, they lack a refined theoretical perspective, leading to fragmented discussions and difficulty in forming a dialogue across contexts [2].

Existing research exploring the factors that give rise to ethical issues in different entrepreneurial contexts has two shortcomings. First, current research findings only explain correlations and fail to reveal causal mechanisms. For example, Goodarzi et al. [9] proposed that a company’s age influences its ethical climate, but their cross-sectional data lack evidence supporting the causal mechanism between a company’s age and its ethical climate. Future research could use longitudinal data to track the causal relationship between a company’s age and its ethical climate, thus expanding the application of the entrepreneurial life cycle theory in ethical entrepreneurship research. Second, contextualized research on ethical issues is insufficient. For instance, Kimakwa et al. [15] identified ethical dilemmas in corporate entrepreneurship and suggested that companies should encourage employees to disrupt established rules. However, there is a lack of research exploring which specific features of the corporate entrepreneurship context to resolve ethical dilemmas. Furthermore, it is necessary to expand digital entrepreneurship ethics research from the perspective of digital technology features, such as digital artifacts, platforms, and infrastructures (e.g., availability, generativity, openness, and reconfigurability) [2,72,73].

Small Business Economics released a Special Issue in 2020 entitled “Rethinking the Entrepreneurship (Research) Process: Opportunities and Challenges of Big Data and AI for Entrepreneurship Research,” in which Padi et al. [74] suggested that entrepreneurship research should pay attention to ethical dilemmas related to big data and AI technologies, including data protection, privacy issues, and intrusive data collection methods. Therefore, future research could expand upon this recommendation and investigate the ethical implications of emerging technologies in entrepreneurship.

4.2. Analyzing the Societal and Environmental Attributes of Entrepreneurial Opportunities

Analyzing the societal and environmental attributes of entrepreneurial opportunities is a critical research direction for entrepreneurial ethics [7,8]. Prior research has primarily focused on economic attributes while disregarding non-economic attributes, such as the natural environment, in identifying, evaluating, and developing entrepreneurial opportunities [6,58,87]. In response to this gap, the Journal of Management Studies issued a call for entrepreneurs to consider economic, social, and environmental benefits in entrepreneurial decision making, as reflected in their Special Issue titled “Sustainability, Ethics, and Entrepreneurship” in 2016 [40].

Despite some scholars exploring the non-economic attributes of entrepreneurial opportunities and examining the impact of the natural environment on entrepreneurs’ opportunity evaluation from an individual cognitive perspective [10,11,21,45], significant research gaps still exist. Future research can explore ethical factors that influence entrepreneurs’ identification of green entrepreneurial opportunities, as [41] have highlighted the impact of ethical perception on opportunity identification. Drawing on moral cognitive development theory [86], moral cognitive development levels can explain why entrepreneurs focus on different types of ethical issues and adopt different ethical problem-solving approaches. Future research can delve deeper into the micro-foundations of green entrepreneurial opportunity identification.

In terms of opportunity evaluation, Kaptein [2] examined the impact of entrepreneurs’ environmental values on the evaluation of environmentally harmful entrepreneurial opportunities, while Harvey et al. [72] investigated the impact of entrepreneurial creativity on the evaluation of environmentally harmful entrepreneurial opportunities. However, existing research has only identified influencing factors at the individual level of entrepreneurs, and entrepreneurs’ decisions to protect the environment may also be influenced by institutional environments, stakeholder pressure, and technological availability [17,54,57]. Moreover, inconsistencies may exist between entrepreneurial opportunity evaluation and opportunity development behaviors [23,40,71], and existing research has yet to focus on the challenges that entrepreneurs face in developing environmentally protective entrepreneurial opportunities. Future research can further explore the process from opportunity evaluation to opportunity development, revealing the factors that influence the inconsistencies between entrepreneurs’ decision making and behaviors in protecting the natural environment.

While research has begun to examine the impact of individual-level factors such as environmental values and entrepreneurial creativity on opportunity evaluation, there is still a need to explore how institutional environments, stakeholder pressure, and technological availability can also influence entrepreneurs’ decisions to protect the environment [7,8,25]. Institutional environments, such as government regulations and policies, can shape the incentives and constraints faced by entrepreneurs in pursuing environmentally protective opportunities. Stakeholder pressure, including pressure from customers, employees, and investors, can also influence entrepreneurs’ decisions to prioritize environmental protection [24,71,78]. Additionally, technological availability, including the availability of green technologies and infrastructure, can provide opportunities and challenges for entrepreneurs seeking to develop environmentally protective opportunities. Examining the interplay between these different factors and their impact on entrepreneurs’ environmental decision making can provide a more comprehensive understanding of the complex factors influencing entrepreneurial ethics in relation to the natural environment [7]. Future research could further investigate the influence of these contextual factors on entrepreneurial opportunities evaluation and how they may interact with individual-level factors to offer a more nuanced and comprehensive understanding of entrepreneurial ethics in relation to the natural environment.

4.3. Advancing Research on Entrepreneurial Ethical Decisions, Behaviors, and Outcomes

Research on entrepreneurial ethics has focused primarily on identifying influencing factors, leaving significant room for further exploration of the impact of ethical behavior on entrepreneurial outcomes. Specifically, research should concentrate on individual-level investigations into the outcomes of entrepreneurial ethics. First, research should examine the impact of unethical behavior by entrepreneurs on themselves. Previous studies e.g., [1,4,24,69] have found that the decision making process for unethical behavior by entrepreneurs involves moral detachment, resulting in inconsistency between perception and behavior [23,50,71]. Future research could use cognitive dissonance theory to examine the effects of this inconsistency on entrepreneurs. Second, research should investigate whether “good people” are rewarded. Happiness is an important entrepreneurial outcome [1]. Wempe [65] found that prosocial behavior by entrepreneurs has a positive impact on their happiness. Future research could continue to explore the outcomes of various ethical behaviors at the individual level.

Moreover, previous studies have examined the impact of unethical behavior on firm performance [78] and corporate image [3] but have overlooked the complexity of the mechanisms through which unethical behavior affects outcomes. This has led to research hypotheses that are difficult to support with data. For example, Martínez-Gregorio et al. [59] predicted a U-shaped relationship between bribery and firm performance, but their results indicated a non-monotonic relationship between the two. This study only explained the relationship between bribery and firm performance from a cost–benefit perspective, ignoring the possibility that bribery may also affect resource allocation efficiency, corporate innovation, and so on. Therefore, future research could integrate multiple theories to explore the mechanisms through which unethical behavior affects firm performance. Another example is the study by Pascucci et al. [76], which investigated the impact of unethical behavior by entrepreneurs on corporate public image. Their findings showed a positive correlation between the intensity of unethical behavior by entrepreneurs and corporate public image, contrary to the expected hypothesis. Future research could explore how ethical approaches [10] could help firms salvage their image when faced with crises resulting from unethical behavior.

Finally, research on entrepreneurial ethics should expand to include the outcomes for stakeholders. Dunham [68] argued that the consequences of entrepreneurs’ ethically questionable behavior should be considered, as they may not only affect the entrepreneurial firm itself but also result in a loss of legitimacy for other entrepreneurs in the industry. Future research could examine whether the exposure of unethical behavior by some entrepreneurs during the process of entrepreneurial financing would lead to a loss of legitimacy for other entrepreneurs in the financing process.

4.4. Expanding Entrepreneurial Ethics Research in Emerging Economies

The study of entrepreneurial ethics in emerging economies provides a significant avenue for research, given the impact of their successes, challenges, and experiences on global economic development beyond their national boundaries. It is, therefore, imperative to examine the ethical decision making of entrepreneurs in identifying, evaluating, and developing opportunities in emerging markets. Unlike mature markets, emerging markets offer more entrepreneurial opportunities, yet their formal systems remain incomplete. Earlier studies by Dey et al. [40] have highlighted the effect of institutional gaps on non-regular entrepreneurship among the bottom of the pyramid (BoP) group, demonstrating that these gaps create opportunities for non-regular entrepreneurship for BoP groups, reducing operating and regulatory costs. Further research can explore entrepreneurial ethics in emerging markets, with an emphasis on market characteristics. Institutional research, for example, can examine whether various institutional gaps in emerging markets facilitate entrepreneurs in identifying ethically questionable entrepreneurial opportunities [19,67,86]. Strategic research can investigate how identifying and developing more socially and environmentally responsible entrepreneurial opportunities can aid start-ups in gaining sustainable competitive advantages in emerging markets. Cognitive research can explore why some entrepreneurs reject entrepreneurial opportunities with potential profits but negative societal and environmental impacts [10,32,37]. Finally, social network research can investigate how entrepreneurs leverage structural holes to identify green entrepreneurial opportunities.

In addition, this study examines the influence of institutional differences in regional development on entrepreneurial opportunism. Uneven regional development and distinctive institutional differences in emerging economies provide valuable opportunities to explore questions from the perspective of regional formal institutional differences [9,35,47]. For instance, which entrepreneurial individuals and firms are provided with the opportunity to engage in non-ethical (yet legal) entrepreneurial activities through regional formal institutional differences (e.g., some companies are registered in impoverished counties, enjoy financial benefits, and manipulate IPO conditions)? How do entrepreneurial individuals and firms use regional formal institutional differences to create competitive advantages, and what are the potential drawbacks (e.g., companies use different environmental standards in different regions to lower institutional costs but are trapped in low-quality development)? Which formal institutional differences in which regions result in entrepreneurial individuals and firms engaging in unethical or even illegal entrepreneurial activities (e.g., the prevalence of counterfeit products or replicative entrepreneurship in some areas)?

Likewise, this study explores the impact of emerging economies’ unique cultural environment on shaping the ethical legitimacy of entrepreneurs and firms. Confucian ethics have a profound influence on emerging economy entrepreneurs [54,55]. McVea et al. [64] argue, through case studies, that family ethics centered on “filial piety and sibling loyalty” influence the family status and social capital accumulation of entrepreneurs in the emerging economy cultural context, thus impacting the cultural concept of family businesses. Moreover, compared with mature economy culture, emerging economy culture emphasizes practicality and the balance of ethical relationships. Therefore, emerging economies’ particular cultural environment provides an important opportunity to explore the following questions: What special characteristics are present when entrepreneurial individuals seek to obtain ethical legitimacy in the context of emerging economies’ interpersonal trust with a hierarchical pattern? Furthermore, what narrative approaches [87] and impression management strategies [73] can help entrepreneurial firms obtain ethical legitimacy? What role does ethical legitimacy play in enabling entrepreneurial firms to gain competitive advantages and achieve long-term development?

4.5. Expanding Research Methods for Entrepreneurial Ethics

The study of entrepreneurial ethics can be challenging due to the sensitivity surrounding ethical issues. Entrepreneurs may deliberately conceal or embellish their ethical practices, creating two problems for researchers. Firstly, some studies may only present research results in the form of propositions due to data limitations. For example, Paramita et al. [75] explored when investors can forgive the lies told by entrepreneurs in the context of entrepreneurial financing. Secondly, entrepreneurs may intentionally conceal or embellish ethical content, leading to inconsistencies between self-reported and actual behavior [20,88], which poses an obstacle to ethical research in entrepreneurship.

To address these issues, future research can utilize scenario experiments to overcome data limitations and better understand the mechanisms underlying ethical decision making. Moreover, cognitive neuroscience tools can be employed to explore the biological mechanisms of cognitive processes and behaviors in entrepreneurial ethics. The use of these tools can accurately measure the entrepreneur’s cognitive and decision making processes [89] and provide insights into the real responses of entrepreneurs when facing ethical dilemmas. In addition, qualitative research methods can be used to open the “black box” of ethical decision making and behavior in entrepreneurial processes. These methods can help to provide a more comprehensive understanding of the mechanisms involved in ethical decision making and how they influence entrepreneurial behavior. For example, in-depth interviews and focus groups can be used to explore the reasoning and motivations behind ethical decision making.

Expanding research methods in entrepreneurial ethics can enhance our understanding of the complexities of ethical decision making and behavior in entrepreneurial processes. By utilizing scenario experiments, cognitive neuroscience tools, and qualitative research methods, researchers can overcome data limitations, uncover the mechanisms involved in ethical decision making, and provide a more comprehensive understanding of ethical behavior in entrepreneurship.

5. Discussion and Implications

The present study aims to provide insights into the current state and direction of research on entrepreneurial ethics and to identify promising avenues for future research that can enhance our understanding of this topic. To achieve these objectives, the study addressed four research questions:

• RQ1 assessed the current state of research on entrepreneurial ethics and identified prominent contributors who are advancing the literature. The study found an increasing trend in the number of publications, indicating a growing prevalence of the research topic in academia.
• RQ2 identified the most significant concerns and recurring themes in the field of entrepreneurial ethics research. The study identified several themes, including ethical decision making, ethical leadership, and ethical climate, which provide insights into the concerns and issues that are driving research on entrepreneurial ethics.
• RQ3 analyzed potential factors that may influence ethical perception and climate in entrepreneurship. A comprehensive framework was developed that summarizes the use of entrepreneurial ethics. The framework highlights the various dimensions of entrepreneurial ethics and how they relate to one another. This framework can serve as a guide for future research on entrepreneurial ethics.
• RQ4 identified potential pathways for future research that can enhance our understanding of entrepreneurial ethics. The study identified five directions for future research agendas based on the comprehensive framework developed in this study. These directions include exploring the role of personal values in ethical decision making, investigating the relationship between ethical leadership and firm performance, examining the impact of institutional pressures on entrepreneurial ethics, analyzing the influence of social and cultural factors on ethical perception, and exploring the use of emerging research methods to study entrepreneurial ethics.

These findings can contribute to the development of new theoretical perspectives and practical applications in the field of entrepreneurial ethics.

5.1. Theoretical Implications

The study’s findings have significant theoretical implications for research on entrepreneurship and ethics. By identifying the key factors that influence ethical perception and climate in entrepreneurship, the study can inform the development of innovative approaches for entrepreneurs to make ethical decisions and create sustainable enterprises that align with their values and goals. Such findings can serve as a foundation for training programs and education initiatives for entrepreneurs, as well as the development of ethical policies and practices that align with enterprise goals and values.

The study’s findings also underscore the need for cross-cultural and global entrepreneurship initiatives and collaborations. With more businesses expanding into international markets, entrepreneurs must be equipped with the skills and knowledge necessary to navigate complex ethical issues in different cultural contexts. This requires a deeper understanding of the factors that shape ethical perception and climate in different cultures, as well as the development of ethical decision making skills that can be applied in diverse settings. Therefore, researchers should pay closer attention to cross-cultural studies to provide a more nuanced understanding of the relationship between entrepreneurship and ethics.

Additionally, the study’s insights into the factors that influence ethical perception and climate in entrepreneurship can inform the development of tailored ethical codes of conduct. By creating ethical codes of conduct that are specific to their enterprise’s needs and reflect their stakeholders’ values and goals, businesses can establish a culture of ethical behavior that guides decision making at all levels of the organization. This approach can help businesses to ensure that ethical considerations are integrated into the core of the enterprise rather than being treated as an afterthought or a compliance issue.

Furthermore, the study’s findings can inform the development of training programs and education initiatives for entrepreneurs, as well as the creation of ethical policies and practices that align with enterprise goals and values. Entrepreneurship training programs and education initiatives play a crucial role in equipping entrepreneurs with the necessary knowledge, skills, and attitudes to succeed in their ventures. With the recognition of the undeniable importance of ethical behavior in entrepreneurship, integrating ethical dimensions into these programs becomes imperative. The study’s findings provide valuable insights into the factors that influence ethical perception, decision making, and behavior in entrepreneurship, thereby serving as a foundation for the development of training programs and education initiatives.

Firstly, the study highlights the distinctive ethical dilemmas and judgments encountered by entrepreneurs compared to non-entrepreneurs. It emphasizes the need for an explanatory framework to elucidate the disparities in ethical attitudes and behaviors between these two groups. This insight can guide the design of training programs that address the unique ethical challenges faced by entrepreneurs and promote ethical decision making skills tailored to their specific context. Secondly, the study emphasizes the intersection of business ethics and entrepreneurship as an area that requires further exploration. It identifies a gap in the literature regarding the relationship between these two fields and the potential for theoretical advancement. This finding suggests that training programs and education initiatives should integrate business ethics concepts and theories into entrepreneurship curricula. By incorporating ethical perspectives and ethical decision making models, these programs can enhance entrepreneurs’ understanding of the ethical dimensions of their ventures and equip them with the tools to navigate ethical challenges effectively. Thirdly, the study underscores the importance of ethical leadership and governance in entrepreneurship. It emphasizes the role of strong governance frameworks, regulations, and enforcement mechanisms in promoting ethical behavior among entrepreneurs. This finding provides a basis for incorporating modules on ethical leadership and governance in training programs, focusing on developing entrepreneurs’ abilities to lead with integrity, foster an ethical culture within their organizations, and comply with ethical standards and regulations. Training programs can incorporate sessions on ethical policy development, ethical decision making processes, and the establishment of ethical codes of conduct. These initiatives can help entrepreneurs develop a clear understanding of their ethical responsibilities and embed ethical considerations into their daily business operations.

Overall, the study’s theoretical implications can benefit current research and literature by guiding future studies, shaping the development of tailored ethical codes of conduct, and informing the creation of effective training programs and policies that promote ethical entrepreneurship practices.

5.2. Practical Implications

The study’s findings have practical implications for entrepreneurs and business leaders who seek to create sustainable enterprises that align with their values and goals. The proposed framework for entrepreneurial ethics research and identified future research directions can serve as a valuable guide for developing ethical policies and practices in entrepreneurship. By exploring the causal mechanisms of ethical issues in different entrepreneurial contexts, businesses can gain a more nuanced understanding of the ethical challenges they face and how to address them in a way that aligns with their values and goals.

In order to ensure ethical considerations are integrated into the decision making process of corporate entrepreneurship, it is important to focus on the specific features of these contexts that lead to and resolve ethical dilemmas. This requires a deeper understanding of how ethical issues play out in the unique context of corporate entrepreneurship and how businesses can navigate these challenges while pursuing innovation and growth. By doing so, businesses can ensure that their corporate entrepreneurship initiatives are aligned with their goals and values while also prioritizing ethical considerations. One way to achieve this is by conducting research that explores the causal mechanisms of ethical issues in different corporate entrepreneurship contexts. This can provide businesses with a more nuanced understanding of the ethical challenges they face and how to address them in a way that aligns with their values and goals. For example, businesses may need to consider the potential conflicts that arise when pursuing both innovation and ethical considerations and develop strategies to navigate these challenges in a way that aligns with their core values and goals.

Another important consideration is the development of ethical policies and practices that are tailored to the specific needs of the enterprise. By creating ethical codes of conduct that reflect the values and goals of their stakeholders, businesses can ensure that ethical considerations are embedded into the core of the enterprise rather than being treated as an afterthought or a compliance issue. Additionally, businesses should invest in entrepreneurship education and training programs that equip their employees with the skills and knowledge necessary to navigate complex ethical issues in different contexts. Finally, ethical entrepreneurship practices not only contribute to the economic growth of a region but can also serve as a means of addressing social problems and alleviating poverty. By developing sustainable enterprises that prioritize ethical considerations, entrepreneurs can create positive social and environmental impact while also achieving long-term economic success. This highlights the importance of ethical considerations in all aspects of entrepreneurship praxis and the potential for businesses to make a positive impact on society through their ethical practices.

5.3. The Future Prospects of Developing Countries

Developing countries, driven by economic growth, technological advancements, and increasing globalization, are recognizing the paramount importance of entrepreneurial ethics. In the forthcoming years, they have the potential to establish and reinforce ethical standards and practices within the realm of entrepreneurship. This perception stems from the growing awareness of ethical issues and the mounting demand for greater accountability from stakeholders. Entrepreneurs in these countries are urged to embrace ethical business practices by integrating principles such as transparency, fairness, integrity, and social responsibility into their operational activities. Adopting and adhering to ethical standards not only enhances entrepreneurs’ credibility and builds trust with stakeholders but also contributes to the sustainable development of their ventures and the broader economy.

Ensuring inclusivity and accessibility of entrepreneurship to all segments of society emerges as a crucial goal for developing countries. By cultivating an entrepreneurial ecosystem that supports diversity, gender equality, and social inclusion, opportunities arise for fostering ethical behavior. This objective necessitates providing training, mentorship, and financial support to underrepresented groups while creating an enabling environment that facilitates their participation in entrepreneurial activities. Inclusive entrepreneurship not only contributes to socioeconomic equity but also harnesses the potential of a diverse talent pool, diverse perspectives, and innovative ideas, thereby fostering economic growth and societal well-being.

Developing countries frequently face substantial environmental challenges, including resource depletion, pollution, and the impacts of climate change. As a result, the future of entrepreneurial ethics in these countries necessitates a strong emphasis on environmental sustainability. Entrepreneurs are called upon to adopt environmentally responsible practices, develop sustainable business models, and actively contribute to the achievement of Sustainable Development Goals (SDGs) related to climate action, responsible consumption, and sustainable production. With increasing participation in global value chains, developing countries also play a crucial role in promoting responsible and ethical supply chains. Entrepreneurs have the opportunity to address critical issues, such as child labor, worker exploitation, and environmental degradation, by ensuring transparency and ethical practices within their supply chains. Collaborative initiatives with international partners, civil society organizations, and consumers can serve as catalysts for driving positive change in this regard.

6. Limitations and Future Research Directions

While this study provides a comprehensive representation of the knowledge base surrounding entrepreneurial ethics, it is important to acknowledge several limitations that warrant consideration. Firstly, the methodology employed in this study was limited to bibliographic network analysis, which relies on the accuracy and completeness of the available literature. As a result, the quality of the results may be influenced by the availability and selection of literature sources [26]. Additionally, the study focused on four prominent databases and excluded grey literature, potentially limiting the scope of the review.

Secondly, while the inclusion criteria were designed to capture all of the relevant literature on entrepreneurial ethics, the exclusion criteria may have unintentionally omitted certain pertinent studies. Thirdly, the literature search was confined to publications in the English language, which may have resulted in the exclusion of relevant studies published in other languages. Fourthly, the study’s definition of entrepreneurial ethics was restricted to social norms, stakeholder welfare, and value creation, possibly overlooking other crucial dimensions of ethical behavior in entrepreneurship, such as social responsibility, sustainability, and corporate governance.

Lastly, despite the study’s aim to provide a comprehensive overview of the literature on entrepreneurial ethics, the depth of analysis and synthesis of the findings may have been limited by the size and complexity of the literature base, as well as the time and resources available for the study. However, it is important to note that despite these limitations, the findings of this study contribute to the existing knowledge base on entrepreneurial ethics and offer valuable directions for future research in this field.

To address the limitations identified in this study, future research could explore alternative or complementary methodologies, such as qualitative case studies or mixed-methods approaches, to provide a more nuanced understanding of entrepreneurial ethics. Expanding the search to include a wider range of databases and incorporating grey literature would enable a more comprehensive review. Furthermore, conducting systematic reviews in multiple languages would help ensure the inclusion of relevant studies from diverse linguistic contexts.

In addition, future studies should incorporate a broader definition of entrepreneurial ethics that encompasses additional dimensions, such as social responsibility, sustainability, and corporate governance, in order to capture the multifaceted nature of ethical behavior in entrepreneurship. Researchers could also investigate the influence of cultural and contextual factors on entrepreneurial ethics, promoting cross-cultural understanding and identifying region-specific ethical challenges and opportunities.

Moreover, given the vastness of the literature on entrepreneurial ethics, future research could focus on specific sub-topics or industry sectors within entrepreneurship to delve deeper into the ethical issues and dilemmas that arise in those contexts. This focused approach would enable a more detailed analysis and synthesis of the literature, facilitating a deeper understanding of the nuances and complexities of ethical behavior in specific entrepreneurial settings.

7. Conclusions

This study employed a systematic literature review (SLR) methodology following the PRISMA protocol to comprehensively assess the existing literature on entrepreneurial ethics. The results of the review revealed a growing interest in the topic, with a significant increase in the number of publications in recent years. The review also highlighted the diverse research areas and perspectives within the field of entrepreneurial ethics, encompassing individual-level ethical decision making as well as broader issues of social responsibility and stakeholder management. Despite the valuable contributions made by existing studies, several gaps and opportunities for future research were identified.

One important area for future investigation is the need for more empirical studies on the ethical practices of entrepreneurs. While theoretical and conceptual contributions have been made, there is a scarcity of research that examines the ethical behavior and decision making processes of entrepreneurs in real-world contexts. Additionally, the role of culture and context in shaping entrepreneurial ethics requires further exploration. Understanding how cultural values, norms, and societal expectations influence ethical behavior in entrepreneurship can provide valuable insights into the interplay between ethics and entrepreneurship across different cultural settings [88,90,91,92,93].

Furthermore, the ethical implications of emerging technologies such as artificial intelligence and blockchain in the entrepreneurial context represent another promising avenue for future research. As these technologies continue to shape and transform the entrepreneurial landscape, it is crucial to investigate their ethical dimensions, including issues related to privacy, data security, algorithmic bias, and responsible innovation [89,94,95].

Overall, this study serves as a valuable resource for scholars, policymakers, and practitioners interested in the ethical dimensions of entrepreneurship. The findings of this review offer insights into the current state of research on entrepreneurial ethics and provide directions for future research aimed at advancing our understanding of the complex interplay between entrepreneurship and ethics. By addressing these identified gaps, future research can contribute to the development of a more nuanced and sophisticated understanding of entrepreneurial ethics, ultimately enabling entrepreneurs to make more informed, ethical, and responsible decisions in their ventures.