ABSTRACT:A key factor in the decision to convert a publicly owned company to private status is the expectation that value will be created, providing the firm with rent. These rents have implications regarding the property rights of the firm’s capital-contributing constituencies. We identify and analyze the types of rent associated with the newly private firm. Compared to public firms, going private allows owners the potential to partition part of the residual risk to bond holders and employees, rendering them to be (...) co-residual risk bearers with owners. We propose that new promotion-based contracts with bond holders and employees, reflecting their particular investments, be negotiated as the firm migrates from public to private status. These contracts should acknowledge the firm’s intent to maximize shareholder value and its need to take the risks necessary to do so, but support that the firm’s survival not be undermined due to its possibly opportunistic owners. (shrink)

The migration of publicly-held companies to private status through use of private equity has been both lauded and lambasted. While agency theorists praise the public-to-private or PTP firm as being an efficient form of corporate governance, others suggest that going private allows owners and managers to extract, rather than add, value.We contribute by developing a categorization of the potential sources of value for the PTP firm. We analyze the effects of each source of value, and find that there are specific (...) negative effects for non-equity stakeholders associated with several sources. Our analysis indicates that the degree to which value is added versus extracted will vary across firms; yet, all will tend to engage in some value extraction. Policy implications are discussed. (shrink)

The newly private corporation challenges scholars to re-examine corporate social responsibility under a markedly different governance system. We theorize regarding the implications of public corporations going private through use of private equity. The new governance system includes few owners and an expert, involved board of directors; combined with a greatly reduced public presence, public-to-private firms are proposed to place greater emphasis on financial performance and lesser emphasis on social performance. Several variables are proposed to moderate the lesser emphasis on social (...) performance. (shrink)

Shareholder activism challenges management control over the corporate status quo. Drawing on reactance theory and recent empirical work on corporate political activity and on firms’ response to shareholder activism, and testing using data complied by the Interfaith Center for Corporate Responsibility, the Federal Election Commission and others for S&P 500 firms from 1999-2006, we find evidence that CPA buffers firms from corporate social responsibility-related or socially-oriented shareholder proposals. Greater CPA, particularly greater relational CPA, influences responses of the U.S. Securities and (...) Exchange Commission as well as responses of the targeted firm, to help neutralize socially-oriented shareholder activism. (shrink)

This is a response to the paper “The fruit of knowledge: To bite or not to bite? Isotta Nogarola on Eve’s sin and its scholastic sources,” by Marcela Borelli, Valeria A. Buffon, and Natalia G. Jakubecki. It has two aims. The first is to show the importance of discussions of Eve in the querelle des femmes, and so to emphasize the importance of Borelli, Buffon and Jakubecki’s analysis of Nogarola’s account of Eve. A second aim is to highlight the philosophical (...) rigour of Nogarola’s discussion of the culpability of Eve as demonstrated by Borelli, Buffon and Jakubecki, by contrasting it with attempts to exculpate Eve from responsibility that were made in pro-woman works written between the composition of Nogarola’s work and its publication. (shrink)

Morality in Sport Sport continues to make its presence known throughout the world as it prospers at all levels. Amazingly, there is no end in sight to the popularity and growth of sport. Essential to sport's continued prosperity, growth, and overall livelihood is the sustenance of a firm moral base. It is the goal and hope of the author that you find this textbook to be a useful guide in helping you maintain and build upon the foundation of moral good (...) that is required for sport to exist now and in the future. The need to make good moral decisions in sport is constant. And, although opportunities to make such decisions in sport are seemingly endless, what is "moral" can be somewhat unclear. Given the various perspectives on morality and the lack of clear-cut distinctions between moral and immoral actions, disagreements regarding moral behavior and sport are likely to always exist. However, having a blatant disregard for good moral behavior in sport is difficult to defend from most any position. (shrink)

Envy and resentment are generally thought to be unpleasant and unethical emotions which ought to be condemned. I argue that both envy and resentment, in some important forms, are moral emotions connected with concern for justice, understood in terms of desert and entitlement. They enable us to recognise injustice, work as a spur to acting against it and connect us to others. Thus, we should accept these emotions as part of the ethical life.

Czech translation of Marguerite Léna’s Choisir l’ Europe: Constantin Sigov et la dignité humaine.

Marie de Gournay, in a central argument in the pamphlet Égalité des hommes et des femmes [The Equality of Women and Men], offers an interpretation of an argument for equality that she attributes to ‘the School.’ I argue that Gournay is drawing on Aristotle’s Metaphysics to formulate an argument for the equality of women; that she does not temper that argument with claims for the superiority of women, which makes her unique for some time; and that her alleged misrepresentation of (...) her authorities – Aristotle in particular – is itself an interesting and suggestive phenomenon. Moreover, while some of her contemporaries would have agreed that the soul of a person has no sex, Gournay was unusual in arguing that the social implication of this was intellectual equality for women and men, just so long as education should be provided to women as well as men. (shrink)

Background Retraction is a mechanism for alerting readers to unreliable material and other problems in the published scientific and scholarly record. Retracted publications generally remain visible and searchable, but the intention of retraction is to mark them as “removed” from the citable record of scholarship. However, in practice, some retracted articles continue to be treated by researchers and the public as valid content as they are often unaware of the retraction. Research over the past decade has identified a number of (...) factors contributing to the unintentional spread of retracted research. The goal of the Reducing the Inadvertent Spread of Retracted Science: Shaping a Research and Implementation Agenda (RISRS) project was to develop an actionable agenda for reducing the inadvertent spread of retracted science. This included identifying how retraction status could be more thoroughly disseminated, and determining what actions are feasible and relevant for particular stakeholders who play a role in the distribution of knowledge. -/- Methods These recommendations were developed as part of a year-long process that included a scoping review of empirical literature and successive rounds of stakeholder consultation, culminating in a three-part online workshop that brought together a diverse body of 65 stakeholders in October–November 2020 to engage in collaborative problem solving and dialogue. Stakeholders held roles such as publishers, editors, researchers, librarians, standards developers, funding program officers, and technologists and worked for institutions such as universities, governmental agencies, funding organizations, publishing houses, libraries, standards organizations, and technology providers. Workshop discussions were seeded by materials derived from stakeholder interviews (N = 47) and short original discussion pieces contributed by stakeholders. The online workshop resulted in a set of recommendations to address the complexities of retracted research throughout the scholarly communications ecosystem. -/- Results The RISRS recommendations are: (1) Develop a systematic cross-industry approach to ensure the public availability of consistent, standardized, interoperable, and timely information about retractions; (2) Recommend a taxonomy of retraction categories/classifications and corresponding retraction metadata that can be adopted by all stakeholders; (3) Develop best practices for coordinating the retraction process to enable timely, fair, unbiased outcomes; and (4) Educate stakeholders about pre- and post-publication stewardship, including retraction and correction of the scholarly record. -/- Conclusions Our stakeholder engagement study led to 4 recommendations to address inadvertent citation of retracted research, and formation of a working group to develop the Communication of Retractions, Removals, and Expressions of Concern (CORREC) Recommended Practice. Further work will be needed to determine how well retractions are currently documented, how retraction of code and datasets impacts related publications, and to identify if retraction metadata (fails to) propagate. Outcomes of all this work should lead to ensuring retracted papers are never cited without awareness of the retraction, and that, in public fora outside of science, retracted papers are not treated as valid scientific outputs. (shrink)

Aristotle's remarks about the differences between the sexes have become infamous for their implications for the social status of women. In his observations on female biology, Aristotle claims that "the female nature is, as it were, a deformity." In describing women's role in the public sphere, he claims that women are naturally subordinate because, while they possess a deliberative faculty, that capacity is "without authority." While both claims express the "inferiority" of female bodies/women relative to male bodies/men, it is not (...) self-evident that the defects Aristotle identifies in female biology have cognitive or moral manifestations that would justify the rule of men over women in political life. Marguerite Deslauriers here aims to construct a coherent picture of Aristotle's views on sexual and gender-based difference from these remarks and to show the extent to which his views on female biology and women's role in politics are causally connected. Without exculpating Aristotle from charges of misogyny, Deslauriers contextualizes his explanations of the role and origin of female animals in his biology and the role of women in his political philosophy; she shows how Aristotle developed these views and the importance they hold for his wider philosophical commitments. She then explores how Aristotle might have seen the link between the physiology of sex and the bearing it has on political life. She ultimately argues that in Aristotle's conception of sexual difference in biology and politics, there is a tension between his view of the inferiority of female bodies and women and his commitment to the idea that females and women are valuable both for generation and for the political life characteristic of human beings. In this tension she finds a difference between Aristotle and his predecessors: while previous accounts associate sexual difference with affliction, Aristotle sees sexual difference as a benefit, both to a species and a political community. This volume will be of interest to philosophers and students interested in ancient philosophy, feminist philosophy, as well as those studying moral and political philosophy. (shrink)

Iris Marion Young argues we cannot understand others' experiences by imagining ourselves in their place or in terms of symmetrical reciprocity (1997a). For Young, reciprocity expresses moral respect and asymmetry arises from people's greatly varying life histories and social positions. La Caze argues there are problems with Young's articulation of asymmetrical reciprocity in terms of wonder and the gift. By discussing friendship and political representation, she shows how taking self-respect into account complicates asymmetrical reciprocity.

John R. Schneider explores the problem that animal suffering, caused by the inherent nature of Darwinian evolution, poses to belief in theism. Examining the aesthetic aspects of this moral problem, Schneider focuses on the three prevailing approaches to it: that the Fall caused animal suffering in nature (Lapsarian Theodicy), that Darwinian evolution was the only way for God to create an acceptably good and valuable world (Only-Way Theodicy), and that evolution is the source of major, God-justifying beauty (Aesthetic (...) Theodicy). He also uses canonical texts and doctrines from Judaism and Christianity - notably the book of Job, and the doctrines of the incarnation, atonement, and resurrection - to build on insights taken from the non-lapsarian alternative approaches. Schneider thus constructs an original, God-justifying account of God and the evolutionary suffering of animals. His book enables readers to see that the Darwinian configuration of animal suffering unveiled by scientists is not as implausible on Christian theism as commonly supposed. (shrink)

Les recompositions familiales touchent l’ensemble des liens familiaux et des liens intergénérationnels. Or, si l’on observe, tant sur le plan juridique que dans les pratiques des familles conjugales, une acception plus complexe et plus riche de la parentalité, les grands-parents restent souvent méconnus. Comment construisent-ils leurs rapports à leurs « beaux-petits-enfants »? Nous avons examiné la littérature et interrogé des « belles-grands-mères » pour tenter d’y voir plus clair. Quelles représentations le champ social offre-t-il des beaux-grands-parents? Et quelles sont concrètement (...) les conditions et les étapes qui rendent possible une identité « beau-grand-parentale »? (shrink)

This article discusses madness and saintliness in Dostoevsky’s novels and investigates how the madman and the saint discern between good and evil. I first explore the metaphysical, spiritual, and moral universe of Dostoevsky’s characters by drawing on William Desmond’s philosophy of the between. Second, I argue that the madman’s misconstrual of reality can be grasped as an idolatrous, divisive, and parodic imitation of the good. Third, I reflect on disembodied discernment. In some cases, due to the weakness of the moral (...) agent, the good cannot be properly embodied in space and time, even if a person exhibits ethically sound discernment. Fourth, I look at examples of holy discernment and examine how, through love, the genuinely good person is able to transform idolatry into a universal and cosmic sacramentalism. (shrink)

Lucrezia Marinella's (1571–1653) most important contributions to philosophy were two polemical treatises: The Nobility and excellence of Women, and the Defects and Vices of Men, and the Exhortations to Women and to Others if They Please. Marinella argues for the superiority of women over men in every respect: psychologically, physiologically, morally, and intellectually. She is particularly effective in using the resources of ancient philosophy to support her various arguments, in which she draws conclusions about the souls and the bodies of (...) women, the nature and significance of women's beauty, the virtue of women and the liberty to which women as well as men are entitled. This Element showcases that her claim of superiority is intended ultimately to justify the possibility of political rule by women. (shrink)

The prospect of organic unified knowledge challenges the increasing fragmentation of scientific disciplines which have become narrowly specialized with the accelerating rate of discoveries and the shaky status of many inductively obtained theories. Yet proof checkers which can control the logical correctness of reasoning offer the possibility of developing an integrative, deductive approach encompassing many branches of science within the same framework. The Principia Humanistica, developed by Krzysztof de Werszowec Rey, constitute such an attempt to apply the Mizar system of (...) verification to the human and related sciences as well as theology. Mizar is based on set theory whose terms may define the individual, value choices, the human person, culture, and religion. This essay explores the Mizar framework, including the definition of valuation and religion. It seeks to show the possibilities opened by such an integrated multidisciplinary approach for the study of free will, the definition of courage, and convergence towards unification with God. (shrink)

In a reading of René Descartes's The Passions of the Soul, Luce Irigaray explores the possibility that wonder, first of all passions, can provide the basis for an ethics of sexual difference because it is prior to judgment, and thus nonhierarchical. For Descartes, the passion of generosity gives the key to ethics. I argue that wonder should be extended to other differences and should be combined with generosity to form the basis of an ethics.

Is love essential to ethical life, or merely a supplement? In Kant's view, respect and love, as duties, are in tension with each other because love involves drawing closer and respect involves drawing away. By contrast, Irigaray says that love and respect do not conflict because love as passion must also involve distancing and we have a responsibility to love. I argue that love, understood as passion and based on respect, is essential to ethics.

lntroduction Imaginary and Images M philosophical imaginary refers to both the capacity to imagine and the stock of images philosophers use. ...

Form of Thought and Presentational Gesture in Karl Popper and E. H. Gombrich The paper deals with common elements and differences in Popper and Gombrich, especially concerning their forms of thought and presentational gesture. Among others it considers the model of common sense which was basal for both of them as well as the similarities of searchlight theory (Popper) and some postulates of Gestalt psychology (Gombrich). At the end it analyses their approaches to historiography with special focusing on Gombrich's comments (...) on the concept of social history of art. (shrink)

Mit diesem Studienbuch liegt seit langem wieder eine historische Überblicksdarstellung vor, die die Geschichte der Kunsttheorie von der Antike bis ins 18. Jahrhundert in didaktisch durchdachter Weise neu behandelt. Ausführlich werden zunächst die Positionen antiker und mittelalterlicher Autoren zur Kunst- und Schönheitstheorie sowie zur Rhetorik, Poetik und Hermeneutik vorgestellt. Der Autor führt dann in konzentrierter Form in alle relevanten Kunst- und Proportionslehren von der Frührenaissance bis zur Mitte des 18. Jahrhunderts ein. Dabei finden auch die wichtigsten Architekturtraktate der Frühen Neuzeit (...) Berücksichtigung. (shrink)

Mit diesem Studienbuch liegt seit langem wieder eine historische Überblicksdarstellung vor, die die Geschichte der Kunsttheorie von der Antike bis ins 18. Jahrhundert in didaktisch durchdachter Weise neu behandelt. Ausführlich werden zunächst die Positionen antiker und mittelalterlicher Autoren zur Kunst- und Schönheitstheorie sowie zur Rhetorik, Poetik und Hermeneutik vorgestellt. Der Autor führt dann in konzentrierter Form in alle relevanten Kunst- und Proportionslehren von der Frührenaissance bis zur Mitte des 18. Jahrhunderts ein. Dabei finden auch die wichtigsten Architekturtraktate der Frühen Neuzeit (...) Berücksichtigung. (shrink)