Ethical behaviors has become one of the most significant issues facing today’s corporate world as specially in hotel industry. Hotel industry, comprises frontline employees who have to interact most frequently with customers, so employees actions could potentially have a significant impact on the organizational success. For this reason, hotel establishments emphasizes that the importance of promoting ethical behavior (McCain, Tsai ve Bellino, 2010: 993). Ethical behavior is usually refers to behavior that conforms to generally accepted social norms (Griffin, 2008: 100; De Cremer, Mayer and Schminke, 2010; 2). Accordingly, it is critical for organizations to establish an ethical culture in which employees are encouraged to behave ethically. Based on the importance of ethical behaviors in organizations, previous researches has investigated the role of a number of influences on ethical behavior. These influences have been classified as either individual or situational. Individual characteristics include values, demographic characteristics such as sex, age, and education, personality traits like locus of control, self-esteem, virtuousness. However, situational characteristics include reward systems, rules, social learning, loyalty, job security, ethical culture, workplace factors and work values. (Baker, Hunt ve Andrews, 2006: 849, Rezaee, 2008: 69, Zaal, 2011: 51; Trevino ve Nelson, 2011: 76).In this context the purpose of this study is to investigate the affect of the individual characteristics and one of the situational factor upon the employees’ ethical behaviours. In accordance with this purpose, we have taken self esteem and virtuousness as an individual characteristics and work values as a situational factor. Accordingly, this study aims to explain the relationships among self-esteem, virtuousness, work values and ethical behaviours. For the purpose of research, survey data, which have been collected through survey method from employees who work in different hotels in Turkey, have been evaluated by means of factor analysis, correlation analysis and regression analysis. Based on the findings gathered from this study, it has been expected that there will be statistically significant relationships among selfesteem, virtuousness, work values and ethical behaviours. In the literature, it is possible to see lots of studies dealing with individual and situational factors which lead employees to show ethical behaviours. Among all these, none of them discussing these relationships. Therefore, it is believed that this study will contribute to and fill the gap in the literature.