This study analyzes the research topics and theoretical foundations that have guided the field of business ethics for the last two decades and, based on the analyses, addresses research topics that have the potential to contribute to the field of business ethics in the future. The research uses the bibliometric research technique of co-word analysis as well as the qualitative research method of qualitative content analysis. The research findings indicate developments to have occurred both in research trends and the theoretical foundations of the field from the 2000-2010 period to the 2011-2020 period. The dominant research trends and theories in the field for the 2000-2010 period have been identified as leadership, corporate governance, trust, corruption, codes of ethics, and stakeholder theory, while the dominant research trends and theories identified for the 2011-2020 period are virtue ethics, sustainability, ethical leadership, culture, religiosity, stakeholder theory, and institutional theory. Suggestions about future research have been presented as a result of the research findings.