There is no direct link, however economics is all about doing its thing as cheaply and yet as properly as possible. We find that the ethical concept of being competent and efficient in one's dealings is virtually the same thing.
A monopolistic regime is less efficient than one where private enterprise is allowed. It is the latter that allows the whole system including itself to be less costly and most efficient.Both of these results are due to the effect of free competition shaping the activity for the best results.
IMHO, the link between ethics and performance is personal/Individual conscience based on religious/lawful tenets, especially the "Golden Rule". Individuals need to realize we are all stakeholders in a global humanity, home and "world peace and planet survival. Check out #Cyberpeacefare Blog. CyberPeaceGadfly
Thanks Dear david Harold Chester and Al LeBlanc for thess nice analysis. As a young student planning to make research in ethics and performance what could be the link between business ethics and performance?
If there is some connection here it is very limited in how much it affects the whole business system. Most businesses have little or no ethical standards.
The best I can say is that a few businesses do have managers whose deliberate policy is ethical. I used to work in one company that deliberately employed handicapped people along with regular workers. This policy was loved by many people in the company and they showed their respect for it to a limited degree by working well, although there were still some discontented workers too. The produce was not exceptional although the management did organize the production to be quite technically efficient.
David: In my observations as a student and teacher of business, enlightened business management is concerned with :profitability, and multi-stake holder values, especially stockholders, executive bonuses, customer satisfaction and employee satisfaction. The main ethical question is "is it legal" - not the "golden rule". Al