This study analyzed whether self-esteem directly predicts ethical behaviours and corporate responsibility values and whether power-distance mediates such relationships. A total of 410 students from two business schools in eastern India participated. A questionnaire was administered to collect information on socio-demographics and on self-esteem, power-distance, ethical behaviours and corporate responsibility values. Results revealed that self-esteem was positively associated with ethical behaviours and corporate responsibility values. Power-distance was a partial mediator in the relationships of self-esteem with ethical behaviours and corporate responsibility values suggesting that promoting self-esteem can partially reduce power-distance and can foster ethicality. These quantitative findings were substantiated with qualitative narratives from middle-level corporate executives.