We propose Social Learning Theory as a theoretical foundation for understanding the ethical standards of future business leaders. Using data drawn from students from 115 four-year undergraduate institutions in 36 different countries, the relationships among role models, capitalism, and laws were examined. The data suggest that future business leaders educated in environments espousing all moral philosophies except virtue ethics are influenced by their role models. However, differences in unethical behavior are found as related to the social influences of capitalism and laws. (Contains 2 tables.)