Wayne Tervo

Email: wtervo@murraystate.edu

Wayne Tervo Wayne Tervo (Dr.), CPA is an Associate Professor of Accounting at the Arthur J. Bauernfeind College of Business at Murray State University. Dr. Tervo earned his Ph.D. from University of Texas San Antonio. He teaches all areas of accounting and has research interests in auditing, business ethics, and other types of behavioral research.

Papers Published in World Economics:

Relationship of Economic Freedom to Economic Performance, Gender Equality, and Social Progress

This study examines the relationship of economic freedom, as measured by the Economic Freedom Index, to economic performance (GDP), gender equality, and social progress. Prior research suggests that business activity is more robust in societies that are more economically free with lower government involvement. Modern business firms must do more than just make a financial profit; firms must also be good corporate citizens and demonstrate corporate social responsibility, such as by advancing gender equality and general social progress. Business managers play key roles in their firms’ advancing corporate social responsibility. Findings of this study indicate that higher levels of economic freedom are significantly positively related to the social factors of gender equality and social progress, important issues to socially responsible business firms.

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