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)

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

The idea of "spirit" has manifold meanings and plays a crucial role in Early Modern medicine, psychology, religion, natural philosophy, and cosmology. This book contains twenty papers, written by international experts; it explores how those disciplines conceived of the spirits and shows that knowledge of the spirits is an essential prerequisite for the understanding of Renaissance literature and music. The volume focuses on the way in which the spirits act upon the soul's perception, imagination, and cognition, and on the cultural (...) practices which aim to use, purge, or ban the spirits. (shrink)

According to the language of thought (or.

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)

Im Hörsaal zeigt sich das europäische Philosophieren jederzeit mündlich und beweglich. Viele pilgerten zwischen 1970 und 1984 nach Paris, wo Michel Foucault dreizehn umfangreiche Vorlesungen hielt. Sein Publikum erstaunte vor dem Wechsel an Themen, Texten und Bildern. Foucault sprach über Machtverhältnisse, Strafregime und diskursive Ordnungen, er thematisierte die Sexualität, das Wahrsagen und wie gut zu leben sei. Seine Anekdoten und Geschichten faszinieren noch in den gedruckten Transkriptionen aller 150 Vorlesungsstunden. Der Essay »Foucault im Hörsaal« versucht den Nachvollzug des mündlichen Foucault (...) und testet den Zusammenhang der mündlich vorgetragenen Gedankenentwicklung. Warum taucht dort - und nur dort - die Figur des Ödipus auf? Es gibt viele rote Fäden im Vortrag Foucaults, der explizit experimentierend ist und sich vom Charakter seiner Bücher deutlich absetzt. Foucault hat Vorlesungen eher wie politische Interventionen als lebhafte Ansprachen gestaltet; er adressiert seine Zuhörer als Zeitgenossen mit offenem Erwartungshorizont. -- Page 4 of cover. (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.

In lieu of an abstract, here is a brief excerpt of the content:Philosophy of Music Education Review 12.1 (2004) 71-75 [Access article in PDF] Response to Kingsley Price's "How Can Music Seem to be Emotional" Marguerite Nering Calgary, Canada Kingsley Price argues that music, since it is not personal, cannot be emotional but can only seem emotional. In an earlier draft of this paper he described it more fully: "Music is not a person, cannot possibly harbor an inward life, (...) and cannot possibly be emotional." He then sets out to discover how music, since for him it is not emotional, can seem to be so. Through a step-by-step process of philosophical inquiry, he first looks within perception and not finding an answer there, searches without, mainly focusing on meaning and Susanne Langer's theory of emotion and music. His search is unrewarded, leaving him to conclude that the answer to his question remains an incomprehensible mystery.His logic at first seems impervious to dispute. Had he not strictly limited his meaning of music and emotion-particularly emotion-it may have simplified responding to his query. For him, "music" refers to instrumental music that is heard or perceived. "Emotion" means conscious feelings we find ourselves in when undergoing emotion.The major question one must ask is whether his basic premise is accurate. Is he correct in stating that music unequivocally is not emotional but only seems so? [End Page 71] Is he correct in stating that music does not harbor an inward life? After all, he is talking about instrumental music that is perceived. While one cannot deny that notated music on paper is not emotional, does this hold for instrumental music being performed and transmitted? The source is a live human, someone who has an inward life, or at least did have at the time of production. The receptor is alive and has an inward life. The human source is sending living music imbued with emotion and energy. The airwaves transport these vibrations. Can we really say that the living or live music reaching the receiver's ears is not carrying real emotion?Returning to Price's analysis, we find he looks first at perception itself, in this case sense perception, and determines that it has two major constituents: awareness and the object of awareness. He argues that awareness cannot seem to exist; it must exist. It is always simple; therefore, there can be no characteristic that makes it seeming and not real. I question whether the latter conclusion necessarily follows, that is, that reality is a consequence of simplicity, but I must agree that awareness by virtue of its existence must be real.Music heard is the object of awareness. He states that the distinction between seeming and reality does apply to some things-for example, to Macbeth seeing a dagger that really is not there-but declares that this cannot apply to music heard, for it actually exists. Does this mean that one cannot hear music that really is not there? The illusion should work for hearing if it works for vision. Back to his argument, because music heard exists, he reasons that one cannot say that the seeming emotionality in music can be traced to the character of the music that bears it. I wonder then how this would apply to a person playing music with real emotion for his or her own enjoyment? In this case the human receptor of music is also the human source of the music. They are one and the same, and this person of course has an inward personal life. Does this music only seem emotional or is it really emotional? It would make sense that it is really emotional.He then looks at whether the seemingness of emotionality can be traced to emotionality itself and deduces that it cannot. Emotions are real. If we feel joy, it is real joy we are feeling and not seeming joy. One cannot debate this. Again, however, I am not convinced of the seemingness of the emotionality of music. Because music comes from a living person, it is an extension... (shrink)

Happiness is far more than a positive feeling that comes and goes, happiness is wired into the physiology of our brains. It is a skill we can all develop through cultivating mindfulness and concentration. In Ten Breaths to Happiness Schneider presents a series of simple practices and guided meditations that allow you to literally rewire your neural pathways to experience deeper and more lasting fulfillment and peace. Studies in neuroscience show that it takes about thirty seconds to build a (...) new neural-pathway. Schneider takes these findings and combines them with mindfulness practices based on the teachings of Zen teacher Thich Nhat Hanh. For example, he encourages us to take ten conscious breaths whenever we encounter something beautiful or have a meaningful experience. Consistently exercising this simple practice creates an opportunity for the brain to move from its default reaction of protection to one of appreciation and spaciousness. (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)

Ludwig Wittgenstein gilt als der Sprachphilosoph. Mit dem 'Tractatus logico-philosophicus' und den 'Philosophischen Untersuchungen' hat er die entscheidenden Texte verfasst, die den linguistic turn der modernen Philosophie begründen. Dass sich die beiden Ansätze eklatant widersprechen, ist oft bemerkt und diskutiert worden. Nicht aber, dass Wittgenstein in dieser systemimmanenten Konkurrenz mehr als ein innerphilosophisches Problem verhandelt. Tatsächlich muss man seine philosophische Entwicklung auch als eine Auseinandersetzung mit seiner eigenen Lebensgeschichte begreifen. Dabei spielt eine wichtige Rolle, dass Wittgenstein erst mit vier Jahren (...) zu sprechen begann und offenkundig eine autistische Kindheitsperiode durchlief, die sich später zum Bild einer postautistischen Persönlichkeit entwickelte. Seine teilweise bizarren Verhaltensweisen sind oft genug 'anekdotisch' berichtet worden. Eine verständliche Vorsicht gegenüber 'psychologischen' Ableitungen hat dazu geführt, dass die Spuren, die auf einen engen Zusammenhang zwischen seinem lebensgeschichtlichen Schicksal und seinem Denken verweisen, nicht verfolgt wurden. Tatsächlich erschliesst sich seine Philosophie in neuer und überraschender Weise, wenn man sie als lebensgeschichtliche Selbstreflexion versteht. (shrink)