This article analyzes the codes of ethics of foreign and indigenous enterprises. The Code of Conduct includes the field of interest of all stakeholders, both foreign investors, local companies, the media, and those who want to join or benefit from activities, and this Code of Ethics also requires the establishment of rules and principles based on the behavior of all those interacting with EBA. Companies in developing countries are convinced that those traditional financial criteria are not always sufficient to attract investors or to conquer new markets both within the EU and around the world. The demand and supply market can only be developed with a superficial foundation. Companies must demonstrate behavior that does not violate the principles of good corporate governance. As a result of research, we have come to the conclusion that both external and internal ethical codes need to be improved.