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)

This paper uses an innovative way to screen stocks and analyzes the relationship between corporate environmental responsibility and long-run stock returns. By our definition, an environmentally responsible (green) company gives no environmental concern and shows environmental strength(s). Using 20 years’ data of 1992–2011, we find evidence that environmentally responsible company outperforms, in the 4th to 7th year after the screening year. An equal-weighted environmentally responsible portfolio earned an annual four-factor alpha of 4.06 % in the 4th year, 3.00 % above (...) industry benchmarks, and 3.87 % above characteristic benchmarks. The results are robust to alternative portfolio weighting methodologies, controlling for firm characteristics, and the removal of outliers. Testing using industry-adjusted Tobin’s Q, we find consistent evidence that environmental strength creates firm value. We argue that environmental responsibility is an intangible asset, likely to be undervalued by the market, especially in the long horizon, thereby causing environmentally responsible companies to exhibit long-horizon excess returns. (shrink)

Seminal work by Knobe, Prasada, and Newman (2013) distinguished a set of concepts, which they named “dual‐character concepts.” Unlike traditional concepts, they require two distinct criteria for determining category membership. For example, the prototypical dual‐character concept “artist” has both a concrete dimension of artistic skills, and an abstract dimension of aesthetic sensibility and values. Therefore, someone can be a good artist on the concrete dimension but not truly an artist on the abstract dimension. Does this analysis capture people's understanding of (...) cornerstone social categories, such as gender, around which society and everyday life have traditionally been organized? Gender, too, may be conceived as having not only a concrete dimension but also a distinct dimension of abstract norms and values. As with dual‐character concepts, violations of abstract norms and values may result in someone being judged as not truly a man/woman. Here, we provide the first empirical assessment of applying the dual‐character framework to people's conception of gender. We found that, on some measures that primarily relied on metalinguistic cues, gender concepts did indeed resemble dual‐character concepts. However, on other measures that depicted transgressions of traditional gender norms, neither “man” nor “woman” appeared dual‐character‐like, in that participants did not disqualify people from being truly a man or truly a woman. In a series of follow‐up studies, we examined whether moral norms have come to replace gender role norms for the abstract dimension. Implications for the evolution of concepts and categories are explored. (shrink)

作者用西方伦理学的模式和理论来叙述中国固有的伦理思想。书中把中国伦理学史分为先秦创始时代、汉唐继承时代、宋明理学时代三个阶段,将三个时代的伦理学家的思想分别加以论列。.

Between the sense of self and the reality of self Content Type Journal Article Category Book Review Pages 113-118 DOI 10.1007/s11097-011-9234-y Authors Wenjing Cai, Center for Subjectivity Research, University of Copenhagen, Njalsgade 140-142, 5th floor, 2300 Copenhagen, Denmark Journal Phenomenology and the Cognitive Sciences Online ISSN 1572-8676 Print ISSN 1568-7759 Journal Volume Volume 11 Journal Issue Volume 11, Number 1.

We develop a new method for constructing hyperimmune minimal degrees and construct an ANR degree which is a minimal cover of a minimal degree.

The relationship between a chief executive officer’s childhood experience of family decline and his or her firm’s social responsibility rating was explored using data on more than 1000 Chinese listed firms. Such childhood experience is shown to predict better CSR ratings. This may be because adversity in childhood shifts the cognitive map through accommodation process, and further fosters cognitive processing ability and a long-term orientation. Career variety and education level are shown to moderate the imprinting effect by altering its strength. (...) Career variety weakens the relationship whereas education level strengthens it. (shrink)

Responsible risk management is central to banking ethics. With the 1999 publication of the Basel Committee's proposal, Basel II, for a New Capital Accord to replace the 1988 agreement, Basel I, an attempt has been made to address the problem of correlating banks' risk management with their capital requirements. The Basel II framework, finalised in June 2004, is designed to improve risk management by using models based on past performance to help set the amount of capital banks are required to (...) hold by regulators, with the purpose of improving the efficiency of capital allocation. The objectives of this study are to investigate how banks generally, but particularly those located in China, could improve their risk management systems and what the implications of these new regulations are for them. Three relevant propositions were formulated, namely, Basel II will improve risk management; Basel II will improve capital allocation efficiency; and compliance with advanced risk management systems is biased in favour of the large banks. Evidence was assembled with which to evaluate these three propositions by gathering relevant primary data by means of a representative survey of Chinese banking executives involved in risk management. The findings strongly support the first two of the above propositions and partly support the third proposition. (shrink)

The 85 Lao Zi bamboo slips from around 300 B. C. E. are the earliest texts of what later became known as the Tao Te King. They also contain the-until now-unknown Taoist narrative of Creation 'Great One gave Birth to Water.' These texts are very original and not yet intermingled with Confucian philosophy, governance, or ethics.This English translation presents the Tao Bamboo Slips in modern simplified Chinese characters, with commentaries and a comparison of the modern Chinese version to the old (...) characters. This bilingual Chinese-English publication is a contribution to the crosscultural visions and values of the New SiIk Road of the 21st century. (Series: Practical Ethics-Documentation / Ethik in der Praxis-Materialien, Vol. 16) [Subject: Confucianism, Chinese Studies, Philosophy]. (shrink)

从公元前624年(周襄王二十八年)起,至公元1945年止,中外著名哲学家和思想家的生卒年,著作和学术活动年代,确有记载的都尽量收入本年表,与哲学有关的历史事件与哲学邻近的其他学科的重大发现和重要思想家 及其著作也予收入。.

People are generally more accurate at categorizing objects at the basic level (e.g., dog) than at more general, superordinate categories (e.g., animal). Recent research has suggested that this basic‐level advantage emerges from the linguistic‐distributional and sensorimotor relationship between a category concept and object concept, but the proposed mechanisms have not been subject to a formal computational test. In this paper, we present a computational model of category verification that allows linguistic distributional information and sensorimotor experience to interact in a grounded (...) implementation of a full‐size adult conceptual system. In simulations across multiple datasets, we demonstrate that the model performs the task of category verification at a level comparable to human participants, and—critically—that its operation naturally gives rise to the basic‐level‐advantage phenomenon. That is, concepts are easier to categorize when there is a high degree of overlap in sensorimotor experience and/or linguistic distributional knowledge between category and member concepts, and the basic‐level advantage emerges as an overall behavioral artifact of this linguistic and sensorimotor overlap. Findings support the linguistic–sensorimotor preparation account of the basic‐level advantage and, more broadly, linguistic–sensorimotor theories of the conceptual system. (shrink)

This study investigated the role of entrepreneurial passion in recognition of opportunity, developing entrepreneurial self-efficacy, and entrepreneurial intention, in the shaping of entrepreneurial actions in the presence of proactive personality. This study applied partial least squares structural equation modeling to test the hypotheses on a sample of 346 university students from Jiangsu province, China. The output of the study showed that entrepreneurial passion positively and significantly influenced entrepreneurial alertness, entrepreneurial self-efficacy to entrepreneurial intention, and entrepreneurial behavior. The findings also showed (...) that a proactive personality positively and significantly moderated the relationship between entrepreneurial intention and entrepreneurial behavior. (shrink)

本书内容包括:中国礼教的出现并形成争鸣的时代——春秋战国;中国儒家礼教思想独尊的时代——汉唐等。.

Previous studies argue that religious firms are more ethical and thus engage less in accrual earnings management. At odds with the ethical view, we use a sample of Chinese listed firms and show that firms in religious regions use more real earnings management. We postulate that besides ethics, religion also proxies for risk aversion, which motivates firms to substitute accrual earnings management with real earnings management. Consistent with this view, we show that the positive association between religiosity and real earnings (...) management is more pronounced for firms with lower litigation risk and for firms with less reputable auditors. In addition, we use a mediation model introduced by Baron and Kenny :1173–1182, 1986) to show that religiosity affects earnings management through the channel of risk aversion. We conclude that firms choose real earnings management over accrual-based earnings management because of risk aversion, rather than ethical reasons. (shrink)

Objective: Studies have consistently found a positive relationship between social support and a sense of purpose; however, less is known about the underlying mechanisms of this relationship. The present study bridges this gap by proposing and testing a path model illustrating the mediating effects of personal growth initiative and academic self-efficacy on the linkage between social support and a sense of purpose.Method: A total of 2,085 Chinese college students completed the revised versions of the Social Support, Personal Growth Initiative, Academic (...) Self-Efficacy, and Sense of Purpose Scales.Results: The results show that social support, personal growth initiative, and academic self-efficacy were all significantly associated with a sense of purpose. As predicted, personal growth initiative and academic self-efficacy mediated the relationship between social support and a sense of purpose, respectively. The results also support the hypothesized serial mediating effect.Conclusion: Individuals who feel more social support have a higher level of personal growth initiative, their academic self-efficacy is stronger, and their academic self-efficacy further enhances their sense of purpose. Additionally, comparisons among the three indirect effects indicated that the effect of personal growth initiative was significantly greater than those of the other two measures. Thus, it can be concluded that personal initiative plays a greater role in enhancing a sense of purpose. These findings not only help to understand how social support enhances the sense of purpose, but also provide insight into the underlying mechanism. (shrink)

This study aims to identify the influence of knowledge management practices on the entrepreneurial and organizational performance with the mediating effect of dynamic capabilities and moderating role of opportunity recognition. Data were gathered from 486 entrepreneurs and applied a structural equation model to test the hypotheses. We found that knowledge management practices have a positive and significant influence on dynamic capabilities, as well as have a significant impact on entrepreneurial and organizational performance. Moreover, results indicated that dynamic capabilities partially mediate (...) in the relationship between knowledge management practices on entrepreneurial and organizational performance. Furthermore, the relationship between knowledge management practices with entrepreneurial and organizational performance strengthening by opportunity recognition. Further, implications and limitations were discussed in the paper. (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)

Reproductive diseases are a long‐standing problem and have become more common in the world. Currently, 15% of the world's population suffers from infertility, and half of them are women. Maturation of oocytes, successful fertilization, and high‐quality embryos are prerequisites for pregnancy. With the development of assisted reproductive technology and advanced genetic assays, we have found that infertility in many young female patients is caused by mutations in various developmental regulators. These pathogenic factors may result in impediment of oocyte maturation, failure (...) of fertilization or early embryonic development arrest. In this review, we categorize these clinically‐identified, mutated genetic factors by their molecular characteristics: nuclear factors (PALT2, TRIP13, WEE2, TBPL2, REC114, MEI1 and CDC20), cytoplasmic factors (TLE6, PADI6, NLRP2/5, FBXO43, MOS and BTG4), a factor unique to primates (TUBB8), cell membrane factor (PANX1), and zona pellucida factors (ZP1‐3). We compared discrepancies observed in phenotypes between human and mouse models to provide clues for clinical diagnosis and treatment of related reproductive diseases. (shrink)

Everything you need to know about Confucius in one small-format book.

The nuggets of wisdom uttered by the old men of the various ancient schools of thought have been compiled into this series. Explanatory notes and English translation are added for the benefit of both Chinese and overseas readers fond of traditional Chinese culture.

The need for sustainable corporate governance has gained the interests of researchers for a while now and it has been found as a very significant component of successful organizational operations. The current paper has examined the role of sustainable corporate governance in achieving sustainable economic space along with measuring the indirect impact of technological innovation and IT governance on the whole process. This paper has followed the quantitative-positivism approach to measure the hypotheses developed in the study. The population considered in (...) this study are the managers currently employed in the corporate sector in China. The data is analyzed using the Smart-PLS 3.3.3 software for checking the data for preliminary screening and the measurement of hypotheses. The findings of the study show that the three components of sustainable corporate governance, i.e., concern for employees, sustainable corporate governance awareness, and the environmental aspects have a significant as well as a positive effect on technological innovation and hence on the sustainable economic space. Similarly, the study has recorded a significant moderating effect of IT governance on the relationship of technological innovation and the sustainable economic space. Overall, it can be seen that corporate governance, innovative technology, and a sustainable digital economy share a reciprocal relationship. Where corporate governance helps as a supporting force to keep both innovation and sustainability in action. Whereas IT governance provides enhanced communication and delivery of public services, business, and advanced human capital. The study will be of high advantage for the corporate sector in China for devising and modifying their policies that consider the employee’s concerns for the governance mechanisms prevailing at priority in the organizations. Further, it will be interesting for the organizations to incorporate the IT governance mechanism in their technological innovations for achieving a sustainable economic space. (shrink)