Some argue that managers over-invest in corporate social responsibility (CSR) activities to build their personal reputations as good global citizens. Others claim that CEOs strategically choose CSR activities to reduce the probability of CEO turnover in a future period through indirect support from activists. Still others assert that firms use CSR activities to signal their product quality. We find that firms use governance mechanisms, along with CSR engagement, to reduce conflicts of interest between managers and non-investing stakeholders. Employing a large (...) and extensive sample of firms within Russell 2000, S& 500 and Domini 400 indices during the 1993-2004 period, we find that consistent with the conflict-resolution hypothesis, the CSR choice is positively associated with governance characteristics, including board independence, institutional ownership, and analyst following. In addition, after correcting for endogeneity of CSR engagement, our results show that CSR engagement positively influences operating performance and firm value, supporting the conflict-resolution hypothesis as opposed to the over-investment and strategic-choice arguments. We find only a weak support of the product-signaling hypothesis as a major motive of CSR engagement. (shrink)

We empirically examine the impact of corporate social responsibility (CSR) on CEO compensation using a large sample of the US firms from 1996 to 2010. We develop and test two hypotheses, the overinvestment hypothesis based on agency theory and the conflict–resolution hypothesis based on stakeholder theory. We find that the lag of CSR adversely affects both total compensation and cash compensation, after controlling for various firm and board characteristics. Our estimates show that an interquartile increase in CSR is followed by (...) a 4.35% (2.78%) decrease in total (cash) compensation. We also find an inverse association between lagged employee relations and CEO compensation. Our results are robust to the correction for endogeneity using instrumental variable approach. Taken together, our results support the conflict–resolution hypothesis, but not the CSR overinvestment argument. (shrink)

In this article, we examine the empirical association between firm value and CSR engagement for firms in sinful industries, such as tobacco, gambling, and alcohol, as well as industries involved with emerging environmental, social, or ethical issues, i.e., weapon, oil, cement, and biotech. We develop and test three hypotheses, the window-dressing hypothesis, the value-enhancement hypothesis, and the value-irrelevance hypothesis. Using an extesive US sample from 1995 to 2009, we find that CSR engagement of firms in controversial industries positively affects firm (...) value after controlling for various firm characteristics. To address the potential endogeneity problem, we further estimate a system of equations and change regression and continue to find a positive relation between CSR engagement and firm value. Our findings support the value-enhancement hypothesis and are consistent with the premise that the top management of US firms in controversial industries, in general, considers social responsibility important even though their products are harmful to human being, society, or environment. (shrink)

In this paper, Professor Wiggins explores the relationship between conservative economic theories and major bankruptcy reforms recently enacted by the United States Congress. First, she describes three key components of conservative economic theory as advanced by the Bush Administration and conservative scholars. These include: a strong preference for private ordering over public ordering, the promotion of private property as a means to expand personal freedom and liberty, and the encouragement of individual risk internalization. Next, she describes two theoretical components of (...) the new bankruptcy reforms. These include: a preference for creditor collection over debt relief and the promotion of individual risk internalization. Then Professor Wiggins examines two questions: First, is there meaningful theoretical symmetry between conservative economics and the new bankruptcy law? Second, is there significant operational symmetry between the two? The paper suggests theoretical convergence for two reasons: First, both conservative economics and the new bankruptcy law aim to promote private bargains over administratively adjusted ones. Second, both seek to force individuals to absorb more of the risks of financial decision-making. The paper suggests, however, that at the operational level there exists significant divergence between the aims of conservative economics and the predicted consequences of the new law. Professor Wiggins concludes, among other things, that economic conservatives should pay more rigorous attention to personal bankruptcy policy because operational asymmetry between their theories and the new legislation could blunt their ambitious economic agenda for American consumers. (shrink)

Volume 19, Issue 6, June 2019, Page 30-31.

This work's thesis is that since the French Revolution, the dominant ideas of liberty, equality and nationality have been given a meaning quite different from traditional liberal interpretations. Liberty, for instance, has been taken to mean that all power is nominally exercised by the people; this difference, it argues, is the cause of all the sufferings of the age.

Baccaro and Pontusson persuasively argue that nations may choose among models of growth strategies, and that each is associated with a distinctive composition of aggregate demand, producer coalitions, and implications for redistribution. This essay considers the political institutions—patterns of industrial relations and public sector employment—that shape national struggles among producer groups and other social forces over diverse growth strategies.

We propose that doping be legalized under medical supervision. First, we discuss two motivations for allowing medically supervised doping. We reject the ‘compromised choice/harm minimization’ motivation as unlikely to win the support of athletes. We agree that it could lead to an arms race. Instead, we favor full acceptance of doping under medical supervision and answer Reid’s spirit of sport objection to medical manipulation. After presenting a set of guiding principles, we use them to answer the arms race objection and (...) rebut one of the most prominent objections in the literature about the safety of medically supervised doping, the game-theoretic objection. (shrink)

Comité Hoene-Wronski.--Avertissement.--Discours de J. Lukasiewicz, ambassadeur de Pologne.--Discours de Ed. Bloud, maire de la ville de Neuilly.--Discours de P. Hazard, professeur au Collège de France.--Warrain, F. Hoene-Wronski : l'homme, le philosophe.--Zaleski, Z. L. Une vue sur la vie et l'oeuvre de Wronski.

Cellular dedifferentiation is an important developmental response to perturbations in morphogenesis. In the cellular slime mold Dictyostelium discoideum this process gives cells the flexibility, when multicellular development is disrupted, to respond to nutrients and reinitiate vegetative growth. Recent studies in D. discoideum described by Soll and colleagues(1) show that genes previously thought to be expressed only during spore germination are also expressed during induced dedifferentiation, suggesting that similar molecular mechanisms are involved in these two developmental processes. It should now be (...) possible to determine whether the developmental programs that control dedifferentiation during spore germination also control conversion of cell types in the multicellular organism. (shrink)

Religion ist der Kritik ausgesetzt und steht unter Rechtfertigungsdruck. Beides verbindet sie mit der Vernunft. Doch um das Thema «Vernunft und Religion», ein klassisches Thema philosophischer Theologie, ist es gegenwärtig still geworden. Neuzeitliche Metaphysikkritik und Plausibilitätsschwund des Christentums verlangen eine Neuausrichtung philosophischer Theologie. Sie muss die modernen Lebenswelten und Sozialverhältnisse, unter denen die christliche Religion heute gelebt wird, aufgreifen. Zugleich muss sie den Anspruch des Christentums, dass seine Gehalte von allgemeiner Bedeutung für den Menschen sind, gedanklich entfalten. Philosophische Theologie steht (...) dafür, Religion im Diskurs mit der Vernunft zu halten - ein Diskurs, der Strittiges nicht ausschließt und sich nicht in lebensferner Begriffsscholastik erschöpft. (shrink)

The World Bank recently noted: “Social license to operate has traditionally referred to the conduct of firms with regard to the impact on local communities and the environment, but the definition has expanded in recent years to include issues related to worker and human rights”. In this paper, we examine a factor that can influence the kind of work conditions that can facilitate or obstruct a firm’s attempts to achieve the social license to operate. Specifically, we examine the empirical association (...) between a company’s employee practices and the religiosity of its local community by investigating their fixed and endogenous effects. Using a large and extensive U.S. sample, we find a positive association between the “employee friendly” practices of a firm and the religiosity of the local community after controlling for several firm characteristics. In addition, after mitigating endogeneity with the dynamic panel system generalized method of moment and after employing several other econometric tests, we still find a robust positive association between the religiosity of the local community and employee-friendly practices. Since recent research has shown that the firm’s treatment of its stakeholders is a key to achieving an SLO, and since employees constitute a highly significant stakeholder group, we interpret our results as supporting the view that religion is an important influence on the kinds of employee practices that can increase the likelihood that a firm will acquire the SLO. (shrink)

ABSTRACT This essay considers a common objection to commercial surrogacy on the grounds that the child is treated as a commodity for sale by the surrogate and the commissioning couple. I analyse one prevalent argument for the view that commercial surrogacy is a kind of baby‐selling, not service‐selling. I conclude that this argument rests on an implausible interpretation of what the reproductive services are. I defend an alternative interpretation of typical surrogacy agreements. Furthermore, I argue that this interpretation fails to (...) support the conclusion that the surrogate is primarily or exclusively selling a baby, rather than her reproductive services. My primary concern is to diagnose a conceptual error in an argument against surrogacy. However, the interpretation of surrogacy arrangements that is defended helps to shift the focus from the issue of whether or not the child is degraded to the issue of whether or not the surrogate degrades herself or is degraded by the commissioning couple. (shrink)

This article approaches Confucianism as a lost art of living and asks how we can make it relevant again for us. Central to this approach is the cultivation of heart-mind designed to help cure ourselves of self-oblivion and self-centeredness so prevalent in our culture today. It is based on the idea of Li, the same as Spinoza’s God, the absolute Being that has nothing to do with human aspirations at all. To seek this, Li is therefore to gain true freedom. (...) Two preeminent Neo-Confucians of Joseon Korea, Yi Hwang and Yi I, discuss the method of Jing, paying full attention and being watchful, for that end. (shrink)

Reconstructions of Romantic-era life science in general, and epigenesis in particular, frequently take the Kantian logic of autotelic “self-organization” as their primary reference point. I argue in this essay that the Kantian conceptual rubric hinders our historical and theoretical understanding of epigenesis, Romantic and otherwise. Neither a neutral gloss on epigenesis, nor separable from the epistemological deflation of biological knowledge that has received intensive scrutiny in the history and philosophy of science, Kant’s heuristics of autonomous “self-organization” in the third Critique (...) amount to the strategic capture of epigenesis from nature, for thought, in thought’s critical transcendence of nature. This essay looks to Jean-Baptiste Lamarck and his English contemporary Erasmus Darwin to begin to reconstruct the rigorously materialist, naturalist, and empiricist theories of epigenesis marginalized by Kantian argumentation. As theorists of environmental and social collaboration in the ontogeny of viable forms, Lamarck and Darwin illuminate features of our own epigenetic turn obscured by the rhetoric of “self-organization,” allowing us to glimpse an alternative Romantic genealogy of the biological present. (shrink)

There is a growing literature on corporate social responsibility, but few have focused on the implications of business groups for CSR. We examine the antecedents and outcomes of CSR behaviors of group firms in Korea. We find that group affiliation is associated with higher CSR overall and for its major societal and environmental components. However, the ownership disparity between cash flow and control by controlling inside shareholders is associated with lower CSR, consistent with opportunistic rent expropriation theory. We further find (...) that CSR initiatives can impact group firms positively in the event of bad events, consistent with insurance theory. This motive for CSR as a means of enhancing reputation capital to buffer the bad events is pronounced for group firms because of group-wide dissemination of negative reputational externality. (shrink)

The capabilities approach of Amartya Sen and Martha Nussbaum has become an influential viewpoint for addressing issues of social justice and human de- velopment. It has not yet, however, given adequate theoretical consideration to the requirements of environmental sustainability. Sen has focussed on the instrumental importance of human development for achieving sustainability, but has failed to consider the limits of this account, especially with respect to consumption-reduction. Nussbaum has criticised constraining material consumption for its paternalistic prescription of one particular conception (...) of the good life, without considering it as an imperative of justice. We discuss two possible extensions of the capabilities approach. First, the concept of ca- pability ceilings contains several attractive elements, but it also suffers from some shortcomings. Therefore, second, we advocate constraining people’s combinations of functionings in accordance with a personal budget which con- sists of a fair share of environmental resources. (shrink)

BackgroundThere has been media coverage surrounding the dangers of heavy drinking and benefits of moderation, with TV and radio presenter, Adrian Chiles, documenting his experience of moderating alcohol consumption in an online article for the Guardian. By analysing the comments in response to Chiles’ article, this study aimed to explore posters’ attitudes or beliefs toward moderating alcohol and posters’ experiences of moderating or abstaining from alcohol.MethodA secondary qualitative analysis of online comments in response to an article about moderating alcohol consumption. (...) Main outcome measures: Comments in response to a United Kingdom online news article about moderating alcohol consumption were extracted and inductive thematic analysis was used.ResultsFor aim one, two themes were developed; “general attitudes toward drinking” and “general attitudes toward reducing consumption”. These themes reflect negative perceptions of alcohol and issues around changing attitudes. For aim two, three themes were developed: “moderation vs. abstention”, “reflection on past drinking behaviours”, and “current drinking behaviours”. These themes represent posters’ experiences and implications changing their drinking habits.ConclusionOur analysis provides a novel insight into perceptions and experiences of moderating or abstaining from alcohol. Alcohol is embedded within United Kingdom culture, creating difficulties for those who choose to moderate or abstain from alcohol. Our analysis highlights the need for public health to focus on shifting the current drinking culture, through clearer drinking guidelines and a wider availability of alcohol-free alternatives. (shrink)

Sign language phonological parameters are somewhat analogous to phonemes in spoken language. Unlike phonemes, however, there is little linguistic literature arguing that these parameters interact at the sublexical level. This situation raises the question of whether such interaction in spoken language phonology is an artifact of the modality or whether sign language phonology has not been approached in a way that allows one to recognize sublexical parameter interaction. We present three studies in favor of the latter alternative: a shape‐drawing study (...) with deaf signers from six countries, an online dictionary study of American Sign Language, and a study of selected lexical items across 34 sign languages. These studies show that, once iconicity is considered, handshape and movement parameters interact at the sublexical level. Thus, consideration of iconicity makes transparent similarities in grammar across both modalities, allowing us to maintain certain key findings of phonological theory as evidence of cognitive architecture. (shrink)

In his article, “What should ChatGPT mean for bioethics?” I. Glenn Cohen explores the bioethical implications of Open AI’s chatbot ChatGPT and the use of similar Large Language Models (LLMs) (Cohen...

Introduction/Background: Moral distress and related concepts surrounding morality and ethical decision-making have been given much attention in nursing. Despite the general consensus that moral distress is an affective response to being unable to act morally, the literature attests to the need for increased clarity regarding theoretical and conceptual constructs used to describe precisely what the experience of moral distress involves. The purpose of this study is to understand how student nurses experience morally distressing situations when caring for patients with different (...) values and beliefs than their own in the clinical environment -/- Methods: This study is based on secondary analysis of participant data. The stories of eight student nurses who completed the original study were reviewed following Yin’s multiple-case study design. -/- Results: Findings suggest there is a subtle form of moral distress that has been under appreciated in the literature and differs from Jameton’s classic definition. While traditional institutional triggers to moral distress are pervasive, personal conflict as a result of differing value systems may be a moral challenge faced by nursing students working with culturally diverse patients. -/- Conclusion: Ethics education is needed in nursing school to reduce moral distress in the clinical environment. Nursing students need opportunities to develop moral reasoning skills in addition to their clinical skills. A philosophical approach to ethics education may be needed to prevent and alleviate moral distress. (shrink)

La publication des lettres d’Isabelle de Bourbon-Parme à sa belle-sœur l’archiduchesse Marie-Christine est un événement important. Pas seulement parce que nous avons affaire à un écrit intime d’une « princesse philosophe », dont l’intelligence et l’ouverture d’esprit sont en soi dignes de notre intérêt. Mais parce qu’il s’agit de lettres d’amour à une femme, comme nous en avons peu d’exemples au xviiie siècle, et même après. Il se pourrait même que nous ayons affaire au premier écrit de cette...

Le colloque organisé par Jérôme Bazin et Marie Frétigny à l’université de Picardie d’Amiens, avait-il besoin de se placer sous la bannière du « gender » pour analyser la question du réalisme dans la peinture du XXe siècle? Si l’hypothèse qui sous-tend cette journée – le réalisme est-il vecteur d’une autre image des femmes? – a pu être opérationnel pour le XIXe siècle, elle devient contre-productive pour le XXe. On ne sera pas surpris d’apprendre que le réalisme a renforcé les (...) stéréotypes de... (shrink)