In A Treatise on Virtues and Rewards, Dragonetti advances a theory of action based on rewards for virtues. The idea of rewards, especially of awards, relies on the hypothesis that intrinsic motivations drive the actions of good or virtuous citizens. We apply this theory to virtuous entrepreneurs who voluntarily adopt ethical principles as promoted by a recent Italian law. These firms receive an ethical rating by the Italian Competition Authority and can access a set of economic and non-economic benefits. (...) We survey a sample of 152 private companies with an ER and examine their views on the economic and social motivations and benefits as well as the perceived usefulness of the ER for improving ethical behaviour. An exploratory factor analysis detects four categories of motivation and two categories of benefits, which we use in regression models to test Dragonetti’s theory. Overall, respondents see the ER as an effective tool, except in terms of improving economic performance. We also find that entrepreneurs with lower economic and higher responsiveness motivations attain higher ERs. However, in the respondents’ opinions, the ER is not producing any concrete benefits since we find no relationship between the ER and economic or competitive rewards. These findings have implications for the ICA as well as for private companies. (shrink)

This chapter contains sections titled: What I s Regulation? How Should We Morally Evaluate Regulation? Welfarism; the Pareto Principle; Kaldor‐Hicks Efficiency versus Social Welfare Functions The Two Fundamental Theorems of Welfare Economics and the Market Failure Framework Externalities Public Goods and Monopoly Power The Coase Theorem Information and Paternalism as Rationales for Regulation Regulatory Forms and Regulatory Choice Criteria References.

This article embarks on ethical trade-offs at the sustainability/finance interface by contrasting shareholders’ interest in short-term financial returns with society’s interest in counteracting ecological and social grievances. Scrutinizing share repurchases, we investigate a firm’s communicated sustainability orientation (i.e., its environmental and social value orientation) as well as its environmental and social sustainability performance. Our results are based on a large-scale panel dataset of 491 U.S. firms observed from 2004 to 2016. The dataset combines share buyback data with sustainability orientation (...) scores from shareholder letters and sustainability performance ratings. The econometric models suggest no association between social value orientation and repurchase volumes, but a significantly negative relationship between environmental value orientation and buybacks in a cubic form. Executive stock options partially attenuate this relationship. Share repurchases in turn negatively affect future environmental and social performance. This study grasps the consequences of firms’ short-term shareholder satisfaction and discusses its ethical implications in the context of firms’ contribution to sustainable development, thereby providing important insights to the business ethics discourse. (shrink)

Barbey & Sloman (B&S) claim that frequency formats and other task manipulations induce people to substitute associative thinking for rule-based thinking about nested sets. My critique focuses on the substitution assumption. B&S demonstrate that nested sets are important to solve base-rate problems but they do not show that thinking about these nested sets relies on a different type of reasoning.

This study applies agenda setting theory to understand how firms’ financial performance is affected by both the news media and the public agenda. Using content and time-series analysis for the data of five Dutch firms, we demonstrate that media attention and public attention for a firm affect stock market ratings. As hypothesized, the effect of media attention was found to be negative whereas the effect of public attention was positive.

The present study tested the assumption that self-ratings, such as those used for measuring state anxiety, do not measure a one-dimensional transcendent entity but involve decisions based on a multi-dimensional judgment. Two groups of subjects were presented with a balanced nine-item state anxiety questionnaire. Each group received a different set of instructions (a standard set and an altered instruction set suggesting unidimensionality of the questions in the questionnaire). It was hypothesized that this change in instructions would impact the structure of (...) the data. The impact of the instructions was detectable at the level of the observed correlation between the negative and positive composites, Cohen's (1988) q=-0.27$. A multigroup confirmatory factor analysis showed that positive and negative wording factors correlated more strongly when unidimensionality was suggested than when standard instructions were used, q=-0.54. Theoretical and practical implications are discussed. (shrink)

BackgroundInstrumented gait analysis post-stroke is becoming increasingly more common in research and clinics. Although overall standardized procedures are proposed, an almost infinite number of potential variables for kinematic analysis is generated and there remains a lack of consensus regarding which are the most important for sufficient evaluation. The current aim was to identify a discriminative core set of kinematic variables for gait post-stroke.MethodsWe applied a three-step process of statistical analysis on commonly used kinematic gait variables comprising the whole body, derived (...) from 3D motion data on 31 persons post-stroke and 41 non-disabled controls. The process of identifying relevant core sets involved: exclusion of variables for which there were no significant group differences; systematic investigation of one, or combinations of either two, three, or four significant variables whereby each core set was evaluated using a leave-one-out cross-validation combined with logistic regression to estimate a misclassification rate.ResultsThe best MR for one single variable was shown for the Duration of single-support or Duration of 2nd double-support phase, corresponding to an 89–90% probability of correctly classifying a person as post-stroke/control. Adding Pelvis sagittal ROM to either of the variables Self-selected gait speed or Stride length, alternatively adding Ankle sagittal ROM to the Duration of single-stance phase, increased the probability of correctly classifying individuals to 93–94%. Combining three variables decreased the MR further to 0.04, suggesting a probability of 96% for correct classification. These core sets contained: a spatial or a temporal variable, Pelvis sagittal ROM or Ankle plantarflexion during push-off, and Arm Posture Score or Cadence or a knee/shoulder joint angle variable. Adding a fourth variable did not further improve the MR.ConclusionA core set combining a few crucial kinematic variables may sufficiently evaluate post-stroke gait and should receive more attention in rehabilitation. Our results may contribute toward a consensus on gait evaluation post-stroke, which could substantially facilitate future diagnosis and monitoring of rehabilitation progress. (shrink)

With the rapid development of Internet of Things technology, RFID technology has been widely used in various fields. In order to optimize the RFID system hardware deployment strategy and improve the deployment efficiency, the prediction of the RFID system identification rate has become a new challenge. In this paper, a neighborhood rough set and random forest combination model is proposed to predict the identification rate of an RFID system. Firstly, the initial influencing factors of the RFID system identification rate are (...) reduced using neighborhood rough set theory combined with the principle of heuristic attribute reduction of neighborhood weighted dependency, thus obtaining a kernel factor subset. Secondly, a random forest prediction model is established based on the kernel factor subset, and a confusion matrix is established using out-of-bag data to evaluate the prediction results. The test is conducted under the constructed RFID experimental environment, whose results showed that the model can predict the identification rate of the RFID system in a fast and efficient way, and the classification accuracy can reach 90.5%. It can effectively guide the hardware deployment and communication parameter protocol setting of the system and improve the system performance. Compared with BP neural network and other prediction models, NRS-RF has shorter prediction time and faster calculation speed. Finally, the validity of the proposed model was verified by the RFID intelligent archives management platform. (shrink)

Background: Black, Asian and minority ethnic groups have a high need for organ transplantation but deceased donation is low. This restricts the availability of well-matched organs and results in relatively long waiting times for transplantation, with increased mortality risks. Objective: To identify barriers to organ donor registration and family consent among the BAME population, and to develop and evaluate a training intervention to enhance communication with ethnic minority families and identify impacts on family consent. Methods: Three-phase programme comprising community-based research (...) involving two systematic reviews examining attitudes and barriers to organ donation and effective interventions followed by 22 focus groups with minority ethnic groups; hospital-based research examining staff practices and influences on family consent through ethics discussion groups with staff, a study on intensive care units and interviews with bereaved ethnic minority families; and development and evaluation of a training package to enhance cultural competence among ICU staff. Setting: Community focus group study in eight London boroughs with high prevalence of ethnic minority populations. Hospital studies at five NHS hospital trusts. Participants: Community studies: 228 focus group participants; hospital studies: 35 nurses, 28 clinicians, 19 hospital chaplains, 25 members of local Organ Donation Committees, 17 bereaved family members; and evaluation: 66 health professionals. Data sources: Focus groups with community residents, systematic reviews, qualitative interviews and observation in ICUs, EDGs with ICU staff, bereaved family interviews and questionnaires for trial evaluation. Review methods: Systematic review and narrative synthesis. Results: Community studies: Organ Donor Register – different ethnic/faith and age groups were at varying points on the ‘pathway’ to organ donor registration, with large numbers lacking knowledge and remaining at a pre-contemplation stage. Key attitudinal barriers were uncertainties regarding religious permissibility, bodily concerns, lack of trust in health professionals and little priority given to registration, with the varying significance of these factors varying by ethnicity/faith and age. National campaigns focusing on ethnic minorities have had limited impact, whereas characteristics of effective educational interventions are being conducted in a familiar environment; addressing the groups’ particular concerns; delivery by trained members of the lay community; and providing immediate access to registration. Interventions are also required to target those at specific stages of the donation pathway. Hospital studies: family consent to donation – many ICU staff, especially junior nurses, described a lack of confidence in communication and supporting ethnic minority families, often reflecting differences in emotional expression, faith and cultural beliefs, and language difficulties. The continuing high proportion of family donation discussions that take place without the collaboration of a specialist nurse for organ donation reflected consultants’ views of their own role in family consent to donation, a lack of trust in SNODs and uncertainties surrounding controlled donations after circulatory death. Hospital chaplains differed in their involvement in ICUs, reflecting their availability/employment status, personal interests and the practices of ICU staff. Evaluation: professional development package – a digital versatile disk-based training package was developed to promote confidence and skills in cross-cultural communication. Initial evaluation produced positive feedback and significant affirmative attitudinal change but no significant difference in consent rate over the short follow-up period with requirements for longer-term evaluation. Limitations: Participants in the focus group study were mainly first-generation migrants of manual socioeconomic groups. It was not permitted to identify non-consenting families for interview with data regarding the consent process were therefore limited to consenting families. Conclusions: The research presents guidance for the effective targeting of donation campaigns focusing on minority ethnic groups and provides the first training package in cultural competence in the NHS. Future work: Greater evaluation is required of community interventions in the UK to enhance knowledge of effective practice and analysis of the experiences of non-consenting ethnic minority families. Funding: The National Institute for Health Research Programme Grants for Applied Research programme. (shrink)

The instrumental benefits of firm’s CSR activities are contingent upon the stakeholders’ awareness and favorable attribution. While social media creates an important momentum for firms to cultivate favorable awareness by establishing a powerful framework of stakeholder relationships, the opportunities are not distributed evenly for all firms. In this paper, we investigate the impact of CSR credentials on the effectiveness of social media as a stakeholder-relationship management platform. The analysis of Fortune 500 companies in the Twitter sphere reveals that (...) a higher CSR rating is a strong indicator of an earlier adoption, a faster establishment of online presence, a higher responsiveness to the firm’s identity, and a stronger virality of the messages. Incidentally, the higher CSIR rating is also found to be associated with the stronger virality. Our findings also suggest that socially responsible firms can harvest proactive stakeholders’ participation without investing more resources. As the first study that conceptualizes the social media as a proponent of CSR, this paper contends that “being socially responsible” makes more practical sense for firms with the rise of social media. (shrink)

The aim of this paper is to analyze whether a number of firm and industry characteristics, as well as media exposure, are potential determinants of corporate social responsibility (CSR) disclosure practices by Spanish listed firms. Empirical studies have shown that CSR disclosure activism varies across companies, industries, and time (Gray et al., Accounting, Auditing & Accountability Journal 8(2), 47–77, 1995; Journal of Business Finance & Accounting 28(3/4), 327–356, 2001; Hackston and Milne, Accounting, Auditing & Accountability Journal 9(1), 77–108, 1996; (...) Cormier and Magnan, Journal of International Financial Management and Accounting 1(2), 171–195, 2003; Cormier et al., European Accounting Review 14(1), 3–39, 2005), which is usually justified by reference to several theoretical constructs, such as the legitimacy, stakeholder, and agency theories. Our findings evidence that firms with higher CSR ratings present a statistically significant larger size and a higher media exposure, and belong to more environmentally sensitive industries, as compared to firms with lower CSR ratings. However, neither profitability nor leverage seem to explain differences in CSR disclosure practices between Spanish listed firms. The most influential variable for explaining firms’ variation in CSR ratings is media exposure, followed by size and industry. Therefore, it seems that the legitimacy theory, as captured by those variables related to public or social visibility, is the most relevant theory for explaining CSR disclosure practices of Spanish listed firms. (shrink)

Something has been going wrong on many college campuses in the last few years. Speakers are shouted down. Students and professors say they are walking on eggshells and are afraid to speak honestly. Rates of anxiety, depression, and suicide are rising--on campus as well as nationally. How did this happen? First Amendment expert Greg Lukianoff and social psychologist Jonathan Haidt show how the new problems on campus have their origins in three terrible ideas that have become increasingly woven into (...) American childhood and education: What doesn't kill you makes you weaker; always trust your feelings; and life is a battle between good people and evil people. These three Great Untruths contradict basic psychological principles about well-being and ancient wisdom from many cultures. Embracing these untruths--and the resulting culture of safetyism--interferes with young people's social, emotional, and intellectual development. It makes it harder for them to become autonomous adults who are able to navigate the bumpy road of life. Lukianoff and Haidt investigate the many social trends that have intersected to promote the spread of these untruths. They explore changes in childhood such as the rise of fearful parenting, the decline of unsupervised, child-directed play, and the new world of social media that has engulfed teenagers in the last decade. They examine changes on campus, including the corporatization of universities and the emergence of new ideas about identity and justice. They situate the conflicts on campus within the context of America's rapidly rising political polarization and dysfunction. This is a book for anyone who is confused by what is happening on college campuses today, or has children, or is concerned about the growing inability of Americans to live, work, and cooperate across party lines. (shrink)

This is a philosophical study by Lithuanian authors on issues related to how to teach philosophy, especially moral philosophy, through films, paintings, images, etc. The topics include multimodality as a synthesis; semiotics and language and image; cinema and philosophical education; postructuralism; film education; value education through spiritual cinema; Eastern Ethics for Western students through multimodal education; philosophy for children; sound and multimodality; Pedagogy of aesthetic to eco-pedagogy, etc.

Social norms of responsibility are shared beliefs on what constitutes responsible behavior, and they play a significant role in determining CSR. This study analyzes how social norms of responsibility permeate corporate boundaries and influence CSR through political leaders, corporate executives, employees, and the public. Socially irresponsible behaviors of the above populations are used as proxies for local social responsibility norms and related to CSR ratings for firms headquartered in the twenty largest U.S. metro areas. The empirical results show that (...) firms headquartered in cities with more responsible social norms exhibit higher ESG scores even after controlling for various demographic, regional, and economic factors. Social responsibility norms encourage firms to be more responsible but are ineffective in deterring irresponsible corporate behaviors. Corporate and political leaders are the essential channels through which social norms of responsibility influence CSR, highlighting the importance of instituting regulations and setting high ethical standards for political and business leaders. This study also demonstrates that social norms have a significant impact on firms with leaders who are more susceptible to local social norms (i.e., local leaders) than non-local leaders. In addition, this study documents a negative bias for responsible social norms in that they condemn irresponsible behaviors more than reward responsible ones. Collectively, the above findings underline the importance of social norms of responsibility in shaping CSR and provide additional insights into societal motivations for CSR. (shrink)

ABCP asset‐backed commercial paper ABS asset‐backed security ABX a source of price indices for MBSs and CDSs ARM adjustable‐rate mortgage B...

This article examines the impact of female leadership on corporate social responsibility (CSR) practices in publicly traded corporations. Our analysis finds that female leadership matters. For example, female leadership at the board level increases the likelihood of having a female CEO and the overall percentage of women executives in firms. The study measures CSR practices using the Thomson Reuters corporate responsibility ratings (TRCRR) from the Thomson Reuters ASSET4 database for 1242 firms over a 7-year period, from 2009 to (...) 2015. Panel regression estimates indicate that board gender diversity (BGD) has a positive impact on CSR, while two other measures of female leadership (presence of female CEO and percentage of female executives) were largely insignificant. We perform our analysis in the context of upper echelons theory and expand on recent studies of the impact of female leadership on CSR practices by using a different and a larger data set than previous research studies. (shrink)

Three experiments examine the effect of base rate consistency under direct experience. Base rate consistency was manipulated by blocking trials and setting base rate choice reinforcement to be either consistent or inconsistent across trial blocks. Experiment 1 shows that, contrary to the usual finding, participants use base rate information more than individuating information when it is consistent, but less when it is inconsistent. In Experiment 2, this effect was replicated, and transferred in verbal questions posed subsequently. Despite experience with (...) consistent base rates increasing sensitivity to base rates in word problems, verbal responses were far from normative. In Experiment 3, participants’ use of base rates was once again moderated by its consistency, but this effect was itself moderated by the diagnosticity of base rate information. Participants were highly accurate in estimating experienced base rates. These studies demonstrate that base rate usage is complex and a function of how base rates are presented (experienced versus summary statistics) and response format (choice proportions versus probability estimates). Knowledge of base rates was insufficient for proper usage in verbal word problems. Although choice proportions showed a sophisticated sensitivity to experienced base rate information, participants seemed unable to demonstrate a similar sophistication when given typical word problems indicating that base rate neglect is a function of information representation and not an inherent processing bias. (shrink)

Socially Responsible Investment indices play a major role in the stock markets. A connection between doing good and doing well in business is implied. Leading indices, such as the Domini Social Index and others, exemplify the movement toward investing in socially responsible corporations. However, the question remains: Does the ratings-based methodology for assessing corporate social responsibility provide an incentive to firms excluded from SRI indices to invest in CSR? Not in its current format. The ratings-based methodology employed by SRI (...) indices in their selection processes excludes many corporations by creating limited-membership lists. This received ratings-based structure is yet to offer an incentive for most of the excluded corporations to invest in improving their levels of CSR. We, therefore, ask under what circumstances a ratings-based method for assessing CSR could provide an incentive to firms excluded from SRI indices to invest in CSR. In this article, we attempt to offer a theoretical reply to this question. We show that when all firms are publicly ranked according to SRI index parameters, such indices can indeed create a market incentive for increased investment by firms in improving their performance in the area of social responsibility. We further show that this incentive tapers off as the amount of investment required exceeds a certain point or if the amount of payback on that investment fails to reach a certain threshold. (shrink)

ABSTRACTThe major credit rating agencies contributed substantially to the sub‐prime mortgage crisis by giving their highest rating to most of the collateralized debt obligations securities that were backed by these sub‐prime mortgages. Because the rating agencies are compensated by the issuers whose CDO bonds they rate, this relationship creates a prima facie conflict of interest, one that is compounded when the rating agency also consults for the issuers on designing the CDOs. While Congress and the Securities Exchange Commission investigate possible (...) wrongdoing, various reforms have been proposed. This article analyzes these conflicts of interest and the cognate corporate governance issues. It then categorizes and critiques several of the reform proposals—which range in severity from requiring more disclosure to the suspension of the rating agency's license. (shrink)

Socially Responsible Investment (SRI) indices play a major role in the stock markets. A connection between doing good and doing well in business is implied. Leading indices, such as the Domini Social Index and others, exemplify the movement toward investing in socially responsible corporations. However, the question remains: Does the ratings-based methodology for assessing corporate social responsibility (CSR) provide an incentive to firms excluded from SRI indices to invest in CSR? Not in its current format. The ratings-based methodology employed (...) by SRI indices in their selection processes excludes many corporations by creating limited-membership lists. This received ratings-based structure is yet to offer an incentive for most of the excluded corporations to invest in improving their levels of CSR. We, therefore, ask under what circumstances a ratings-based method for assessing CSR could provide an incentive to firms excluded from SRI indices to invest in CSR. In this article, we attempt to offer a theoretical reply to this question. We show that when all firms are publicly ranked according to SRI index parameters, such indices can indeed create a market incentive for increased investment by firms in improving their performance in the area of social responsibility. We further show that this incentive tapers off as the amount of investment required exceeds a certain point or if the amount of payback on that investment fails to reach a certain threshold. (shrink)

The concept of sustainable and responsible (SR) investments expresses that every investment should be based on the SR investor’s code of ethics. To a large extent the allocation of SR investments to more sustainable companies and ethical practices is based on the environmental, social, and corporate governance (ESG) scores provided by rating agencies. However, a thorough investigation of ESG scores is a neglected topic in the literature. This paper uses Thomson Reuters ASSET4 ESG ratings to analyze the influence of firm (...) size, a company’s available resources for providing ESG data, and the availability of a company’s ESG data on the company’s sustainability performance. We find a significant positive correlation between the stated variables, which can be explained by organizational legitimacy. The results raise the question of whether the way the ESG score measures corporate sustainability gives an advantage to larger firms with more resources while not providing SR investors with the information needed to make decisions based on their beliefs. Due to our results, SR investors and scholars should reopen the discussion about: what sustainability rating agencies measure with ESG scores, what exactly needs to be measured, and if the sustainable finance community can reach their self-imposed objectives with this measurement. (shrink)

This book is about permissive consent--the moral tool we use to give another person permission to do what would otherwise be forbidden. For instance, consent to enter my home gives you permission to do what would otherwise be trespass. This transformation is the very thing that philosophersidentify as consent--which is why we call it a normative power. It is something individuals can do, by choice, to change the moral or legal world. But what human acts or attitudes render consent? When (...) do coercive threats, offers, or lies undermine the transformative power of consent? What intentionsor conventions are necessary to render consent meaningful?This book develops a novel theory that explains the moral features of consent in some of the most central domains of human life--but that also serves as a study in how to theorize normative power. It argues that consent is a moral mechanism with exactly the set of features that, when triggered,prevents another person's behavior from constituting a certain kind of wrongdoing. What kind of wrongdoing? It depends on what sort of permission is being granted. Sometimes consent permits others to enter, occupy, or act within some bounded domain wherein the consent-giver holds moral authority. Inthese cases, consent operates to prevent what the book calls: Invasive Wrongdoing. By identifying the moral features that underlie this special wrongdoing, we can learn what it takes to render consent. (shrink)

Liberty and Law examines a previously underappreciated theme in legal history―the idea of permissive natural law. The idea is mentioned only peripherally, if at all, in modern histories of natural law. Yet it engaged the attention of jurists, philosophers, and theologians over a long period and formed an integral part of their teachings. This ensured that natural law was not conceived of as merely a set of commands and prohibitions that restricted human conduct, but also as affirming a realm of (...) human freedom, understood as both freedom from subjection and freedom of choice. Freedom can be used in many ways, and throughout the whole period from 1100 to 1800 the idea of permissive natural law was deployed for various purposes in response to different problems that arose. It was frequently invoked to explain the origin of private property and the beginnings of civil government. Several kinds of permissive natural law were identified. Permission could be positive or negative, depending on whether it was specifically conceded by a legislator or only tacitly allowed. It could free from sin or merely remit some temporal punishment that was due. It could commend some conduct without commanding it or permit some evil without condoning it. Medieval canonists used the concept of permissive natural law to harmonize the discordant texts that they found in their sources; William of Ockham found it a powerful tool in his defense of Franciscan poverty against papal criticisms; for Richard Hooker it justified both the constitutional structure and the ritual practices of the Anglican church; John Selden used it to uphold the inviolability of contracts, most importantly the contract of government; Hugo Grotius made it a central theme in his treatment of the conduct permissible in waging war; in the eighteenth century Jean Barbeyrac and Jean-Jacques Burlamaqui associated the idea with the emerging doctrine of natural rights. In Liberty and Law, Tierney has presented us with a magisterial and provocative way of interpreting legal history. (shrink)

Aggregated reputation scores and rankings have been rightly criticized for lacking a theoretical basis by which to weight the individual perceptions that form them. The resulting product can be a score or ranking that fails to represent the perceptions of many or even most stakeholders. Little attention has been paid, however, to the reverse. Rather than focus on how individual perceptions can be represented at an aggregate level, herein we focus on how an aggregated reputation can influence individual perceptions. We (...) hypothesize that ratings have a significant influence on stakeholder perceptions, especially where other information is lacking. Through experiments, we find that exposure to reputation ratings provides stakeholders with an anchor point – information about what others think – and their perceptions of the firm are adjusted relative to this anchor. We suggest future work on reputation delve into the heuristics and biasesboundedly rational stakeholders deploy when assessing firms. (shrink)

Many geoengineering projects have been proposed to address climate change, including both solar radiation management and carbon removal techniques. Some of these methods would introduce additional compounds into the atmosphere or the ocean. This poses a difficult conundrum: Is it permissible to remediate one pollutant by introducing a second pollutant into a system that has already been damaged, threatened, or altered? We frame this conundrum as the ‘‘Problem of Permissible Pollution.’’ In this paper, we explore this problem by (...) taking up ocean fertilization and advancing an argument that rests on three moral claims. We first observe that pollution is, in many respects, a context-dependent matter. This observation leads us to argue for a ‘‘justifiability criterion.’’ Second, we suggest that remediating actions must take into account the antecedent conditions that have given rise to their consideration. We call this second observation the ‘‘antecedent conditions criterion.’’ Finally, we observe that ocean fertilization, and other related geoengineering technologies, propose not strictly to clean up carbon emissions, but actually to move the universe to some future, unknown state. Given the introduced criteria, we impose a ‘‘future-state constraint’’. We conclude that ocean fertilization is not an acceptable solution for mitigating climate change. In attempting to shift the universe to a future state geoengineering sidelines consideration of the antecedent conditions that have given rise to it —conditions, we note, that in many cases involve unjustified carbon emissions —and it must appeal to an impossibly large set of affected parties. (shrink)

Children dependent on life-prolonging medical technology are often subject to a constant background risk of sudden death or catastrophic complications. Such children can be cared for in hospital, in an intensive care environment with highly trained nurses and doctors able to deliver specialised, life-saving care immediately. However, remaining in hospital, when life expectancy is limited, can considered to be a harm in of itself. Discharge home offers the possibility for an improved quality of life for the child and their family (...) but comes with significant medical risks.When making decisions for children, two ethical models predominate, the promotion of the child’s best interests or the avoidance of harm. However, in some circumstances, particularly for children with life-limiting and/or life-threatening illness, all options may be associated with risk. There are no good options, only potentially harmful choices.In this paper, we explore decisions made by one family in such circumstances. We describe a model adopted from risk management programmes beyond medicine, which offers a potential framework for identifying risks to the child that are morally permissible. Some risks and harms to a child, not ordinarily permitted, may be acceptable when undertaken in the pursuit of a specified desired good, so long as they are as low as reasonably practicable. (shrink)

“Responsible lobbying” is an increasingly salient topic within business and management. We make a contribution to the literature on “responsible lobbying” in three ways. First, we provide novel definitions and, thereby, make a clear distinction between lobbying and corporate political activity. We then define responsible lobbying with respect to its content, process, organization, and environment, resulting in a typology of responsible lobbying, a conceptual model that informs the rest of the paper. Second, the paper provides a thematic overview of the (...) current literature underpinning lobbying and the responsible firm, and the underlying paradigms informing this literature. Third, the paper makes specific suggestions for a future research agenda, ending with a consideration of methodological implications of such research. (shrink)

In a contractual firm–stakeholder relationship the participants are expected to act according to the agreement and for mutual benefit. By acting against the agreement at the expense of the other participant, however, may result in higher individual profits within a short period of time. Building on the unlocked iterated prisoner’s dilemma (PD) setting, Scanlon’s [Scanlon, T.␣M.: 1998, What We Owe to Each Other (Belknap Press of Harvard University Press, Cambridge, Mass)] version of contractualism, and the social dilemma literature, this (...) article considers what types of behaviors should be followed by both parties in an established firm–stakeholder relationship in order to reach an outcome that is defensible both in terms of morality and viability. It is argued that a normative foundation, which advises firms and stakeholders to ground their behavior on principles that could not reasonably be rejected by others, forms a basis for moral and viable behavior that can be expressed in the form of a strategic rule that excludes defection and utilizes the option to exit in response to the other participant’s defection. Then, a set of testable propositions is developed that describe how a firm and its stakeholders can further promote moral and viable relationships. (shrink)

This article extends our understanding of the firm–nongovernmental organization relationship by emphasizing the role of language in shaping organizational behavior. It focuses on discursive and rhetorical activity through which firms and NGOs jointly – and not always consciously – define boundaries for socially acceptable corporate behavior. It explores the discursive legitimation struggles of a leading Finnish forest industry company StoraEnso and Greenpeace during 1985–2001 and examines how these struggles participated in the definition and institutionalization of corporate social responsibility. I (...) find a mixture of rational and moral struggles as a key feature of this legitimation work and show how different manifestations of these struggles act as a central mechanism that redefines what the boundaries of corporate responsibility are in a specific setting at a given point of time. The study illustrates how the actors’ ability to sense the public’s views contribute to rhetorical difficulties of the industry and unintended societal consequences for the activists, and how the rational and moral struggles build up in time to trigger changes in the actors’ sensemaking and actions. (shrink)

While the ethics of technology is analyzed across disciplines from science and technology studies, engineering, computer science, critical management studies, and law, less attention is paid to the role that firms and managers play in the design, development, and dissemination of technology across communities and within their firm. Although firms play an important role in the development of technology, and make associated value judgments around its use, it remains open how we should understand the contours of what (...) class='Hi'>firms owe society as the rate of technological development accelerates. We focus here on digital technologies: devices that rely on rapidly accelerating digital sensing, storage, and transmission capabilities to intervene in human processes. This symposium focuses on how firms should engage ethical choices in developing and deploying these technologies. In this introduction, we, first, identify themes the symposium articles share and discuss how the set of articles illuminate diverse facets of the intersection of technology and business ethics. Second, we use these themes to explore what business ethics offers to the study of technology and, third, what technology studies offers to the field of business ethics. Each field brings expertise that, together, improves our understanding of the ethical implications of technology. Finally we introduce each of the five papers, suggest future research directions, and interpret their implications for business ethics. (shrink)

We report two issues concerning diverging sets of Bayesian (conditional) probabilities-divergence of "posteriors"-that can result with increasing evidence. Consider a set P of probabilities typically, but not always, based on a set of Bayesian "priors." Fix E, an event of interest, and X, a random variable to be observed. With respect to P, when the set of conditional probabilities for E, given X, strictly contains the set of unconditional probabilities for E, for each possible outcome X = x, call this (...) phenomenon dilation of the set of probabilities (Seidenfeld and Wasserman 1993). Thus, dilation contrasts with the asymptotic merging of posterior probabilities reported by Savage (1954) and by Blackwell and Dubins (1962). (1) In a wide variety of models for Robust Bayesian inference the extent to which X dilates E is related to a model specific index of how far key elements of P are from a distribution that makes X and E independent. (2) At a fixed confidence level, (1-α), Classical interval estimates A n for, e.g., a Normal mean θ have length O(n -1/2 ) (for sample size n). Of course, the confidence level correctly reports the (prior) probability that θ ∈ A n ,P(A n )=1-α , independent of the prior for θ . However, as shown by Pericchi and Walley (1991), if an ε -contamination class is used for the prior on the parameter θ , there is asymptotic (posterior) dilation for the A n , given the data. If, however, the intervals A ′ n are chosen with length $O(\sqrt{\log (\text{n})/\text{n})}$ , then there is no asymptotic dilation. We discuss the asymptotic rates of dilation for ClassClassical and Bayesian interval estimates and relate these to Bayesian hypothesis testing. (shrink)

Much of the criticism of Stevens's criterion for permissible statistics as applied to measurement data results from a lack of clarity in Stevens's position. In this paper set-theoretical notions have been used to clarify that position. We define a sig-function as a function defined on numerical assignments. If A and R are empirical and numerical relational systems, respectively, then a sig-function F is constant on A with respect to R if, and only if, the value of F is the (...) same for all numerical assignments for A with respect to R. Using these notions we prove rigorously certain generalizations of Stevens's results. (shrink)

In this study, we explore how investors reconcile information on firms’ social responsibility with analysts’ assessments of future firm risk in the pricing of long-term bonds. We ask whether investors pay attention to small strides toward and/or small slips away from socially responsible behavior, arguing that analysts’ corporate bias toward gains and against losses influences investor reactions to corporate social responsibility. We hypothesize that analysts notice and reward improvements in social responsibility, yet excuse lapses. We find support for this (...) hypothesis, using a unique dataset of long-term bonds that combines lagged measures of firm-level financial and social performance with bond-specific data pertaining to risk of default and pricing. The empirically robust asymmetry in investor responses to small but often cumulative increases versus decreases in corporate social responsibility reveals an under-examined root cause of longer-term, larger-scale distortions in financial market returns regarding corporate social performance. Our findings elaborate earlier behavioral research on how corporate bias influences analysts’ short-term assessments of economic risk, by theorizing why this corporate bias may influence long-term assessments of social risk. Our work also motivates more critical scrutiny of the role analysts play in revising the future risk of today’s social action versus inaction. (shrink)

Over the past decade, sustainable finance has been a topic of burgeoning significance for investors, and ESG ratings have become commonly used to implement ESG investment strategies in practice. Strikingly, it is widely documented in both academic literature and investment practices that ESG ratings of a given firm can be extremely different across rating providers. However, despite the disagreement in ESG ratings being subject to a lot of criticism, only few studies have examined the sources and determinants of rating divergence. (...) This study examines whether quantitative ESG disclosure is conducive to rating convergence among agencies. Based on ESG rating data of Chinese A-share listed companies, the author finds that greater quantitative ESG disclosure, especially disclosure on environmental and social pillars, results in greater divergence of ESG ratings. When employing a difference-in-differences design with a quasi-experiment of disclosure guidance introduced by Hong Kong Exchange, the results show that if ESG disclosure is standardized and comparable, more numerical information reduces agencies' rating disagreement instead. Further analyses show that the lack of agreement is related to a low rating in the future. The author also finds that the effect of quantified ESG disclosure on rating divergence is more pronounced when firms are single businesses rather than diversified businesses with poor ESG performance rather than good ESG performance. The results are robust to alternative measures of ESG rating divergence, alternative sample, two-way clustering, and additional control variables. Taken together, the results indicate that quantitative ESG disclosure degenerates rating disagreement. (shrink)

This article asks whether firms should contribute to the costs of procreation and parenthood. We explore two sets of arguments. First, we ask what the principle of fair play – central in parental justice debates – implies. We argue that if one defends a pro-sharing view, firms are required to shoulder part of the costs of procreation and parenthood. Second, we turn to the principle of fair equality of opportunity. We argue that compensating firms for costs they (...) incur because their employees decide to procreate or parent may undermine some of the incentives leading to (statistical) discrimination in the workplace. (shrink)

Through the exponential growth in digital devices and computational capabilities, big data technologies are putting pressure upon the boundaries of what can or cannot be considered acceptable from an ethical perspective. Much of the literature on ethical issues related to big data and big data technologies focuses on separate values such as privacy, human dignity, justice or autonomy. More holistic approaches, allowing a more comprehensive view and better balancing of values, usually focus on either a design-based approach, in which it (...) is tried to implement values into the design of new technologies, or an application-based approach, in which it is tried to address the ways in which new technologies are used. Some integrated approaches do exist, but typically are more general in nature. This offers a broad scope of application, but may not always be tailored to the specific nature of big data related ethical issues. In this paper we distil a comprehensive set of ethical values from existing design-based and application-based ethical approaches for new technologies and further focus these values to the context of emerging big data technologies. A total of four value lists were selected for this. The integrated list consists of a total of ten values: human welfare, autonomy, non-maleficence, justice, accountability, trustworthiness, privacy, dignity, solidarity and environmental welfare. Together, this set of values provides a comprehensive and in-depth overview of the values that are to be taken into account for emerging big data technologies. (shrink)

Inter-organizational models are both a well-documented phenomena and a well-established domain in management and business ethics. Those models rest on collaborative capabilities. However, mainstream theories and practices aimed at developing these capabilities are based on a narrow set of assumptions and ethical principles about human nature and relationships, which constrain the very development of capabilities sought by them. This article presents an Aristotelic–Thomistic approach to collaborative entrepreneurship within and across communities of firms operating in complementary markets. Adopting a scholarship (...) of integration approach and evaluating the six studies of communities of organizations, we contribute an inter-organizational network model based on the assumptions about human motives and choice offered by Aristotle. We argue that the sustainability of inter-organizational communities depends on how rich is the set of assumptions about human nature upon which they are based. In order to develop and sustain collaborative capabilities in inter-organizational communities, a set of assumptions that takes both self-regarding and others’-regarding preferences as ends is required to avoid any kind of instrumentalization of collaboration, which is an end in itself. Implications for theory and practice are discussed. (shrink)

Background 300 million operations and procedures are performed annually across the world, all of which require a patient’s informed consent. No standardised measure of the consent process exists in current clinical practice. We aimed to define a core outcome set for informed consent for therapy. Methods The core outcome set was developed in accordance with a predefined research protocol and the Core OutcoMes in Effectiveness Trials methodology comprising systematic review, qualitative semi structured interviews, a modified Delphi process and consensus webinars (...) to ratify outcomes for inclusion in the final core outcome set.. Participants from all key stakeholder groups took part in the process, including patients and the public, healthcare practitioners and consent researchers. Results 36 outcome domains were synthesised through systematic review and organised into a consent taxonomy. 41 semi-structured interviews were performed with all consent stakeholders groups. 164 participants from all stakeholder groups across 8 countries completed Delphi Round 1 and 125 completed Round 2. 11 outcomes met the ‘consensus in’ criteria. 6 met ‘consensus in’ all stakeholder groups and were included directly in the final core outcome set. 5 remaining outcomes meeting ‘consensus in’ were ratified over two consensus webinars. 9 core outcomes were included in the final core outcome set: Satisfaction with the quality and amount of information, Patient feeling that there was a choice, Patient feeling that the decision to consent was their own, Confidence in the decision made, Satisfaction with communication, Trust in the clinician, Patient satisfaction with the consent process, Patient rated adequacy of time and opportunity to ask questions. Conclusion This international mixed-methods qualitative study is the first of its kind to define a core outcome set for informed consent for intervention. It defines what outcomes are of importance to key stakeholders in the consent process and is a forward step towards standardising future consent research. (shrink)

This study revisits the relation between corporate performance and corporate social responsibility in the context of a major shift in firms’ credit risk status. Relying on corporate credit rating as a performance indicator, we examine whether firms under the scrutiny of rating agencies trade-off CSR engagement for credit quality improvement. To explore whether firms adjust their CSR engagement after a focal rating change, we focus on the investment–speculative grade threshold because of its importance in accessing the public (...) debt market. We find that firms that lose the investment grade rating subsequently increase CSR engagement. We also uncover that improving CSR engagement helps firms restore their credit ratings ex post. Our findings support the view of CSR engagement as a valuable risk management strategy. (shrink)

Neutralists have argued that there is something illiberal about linking access to gift-like resources to work requirements. The central liberal motivation for basic income is to provide greater freedom to choose between different ways of life, including options attaching great importance to non-market activities and disposable time. As argued by Philippe Van Parijs, even those spending their days surfing should be fed. This article examines Van Parijs' dual commitment to a ‘real libertarian’ justification of basic income and the public enforcement (...) of a strong work ethos, which serves to boost the volume of work at a given rate of taxation. It is argued (contra Van Parijs) that this alliance faces the neutrality objection: the work ethos will largely offset the liberal gains of unconditionality by radically restricting the set of permissible options available. A relaxed, non-obligatory ethos might avoid this implication. This view, however, is vulnerable to the structural exploitation objection: feasibility is achieved only because some choose to do necessary tasks to which most people have the same aversion. In light of these objections, the article examines whether there is a morally untainted feasibility path consistent with liberal objectives. (shrink)

While the human papillomavirus vaccine is medically indicated to reduce the risk of genital warts and certain types of cancer, rates of HPV vaccination repeatedly fall short of public health goals. Individual-level factors contributing to low vaccination rates are well documented. However, system-level barriers, particularly the need for parental consent, have been less explored. To date, there is no legal or ethical consensus in the USA regarding whether adolescents might permissibly self-consent to the HPV vaccine. Consequently, there is (...) considerable variability in medical practice at the provider and state level. In this essay, we explore the ethical acceptability of vaccinating adolescents for HPV without parental consent. We argue that the same ethical considerations that justify permitting minors to consent to treatment for sexual and reproductive health care—namely, public health benefit and adolescents’ developing autonomy—similarly justify permitting minors to consent to HPV vaccination. Based on this analysis, we conclude that allowing adolescents to self-consent to the HPV vaccine is ethically justifiable and should be reflected in US state policies. (shrink)

The prevention of sexual violence is a major goal of sexual health. In cases of accused sexual offenders, the assessment of diminished criminal responsibility of the accused is one of the most important procedures undertaken by experts in the German legal system. This assessment follows a two-stage method assessing first the severity of a paraphilic disorder and then second criteria for or against diminished capacity. The present study examines the predictive validity of two different sets of criteria for the assessment (...) of criminal responsibility in the context of paraphilic disorders combined with sexual offending. Two exemplary case vignettes of two suspected sexual offenders were developed to assess the criteria. For each participant, one of the two exemplary case vignettes was randomly presented. The presentation of the two different sets of criteria was also randomized, so that each participant was assigned only one of the two criteria sets to rate one of the presented cases. N = 349 participants from different professional backgrounds completed their assessments and were included in the data analysis. The data were evaluated using logistic regression. Results show that the more recently published criteria set predicts both the severity of the disorder as well as the diminished capacity twice as good as the older criteria set of Boetticher et al. currently used regularly for forensic court reports. In preliminary conclusion, the new criteria of Briken and Müller form an empirically based assessment of criminal responsibility. However, the proposed criteria cannot replace an extensive exploration of the accused person and a careful file analysis. Validity and reliability of the results are also limited due to the methodical choice of a vignette study. (shrink)

A large body of literature looks at how firms develop and maintain their reputation. Little is known, however, about factors leading to a damaged corporate reputation. In this article, the authors compare two sets of predictors of reputational damage following a reported breach of norms: the characteristics of the breach and the characteristics of the actor reporting the breach. Theoretically, the authors argue that the latter is likely to prevail over the former. The authors test this proposition in the (...) highly normative context of corporate social responsibility (CSR). Building on a global data set of over 8,600 CSR-related norm breaches, directed against 451 firms on the Fortune ranking reputation over the 2006-2009 period, the authors find empirical support for the idea that reputation damage is not really driven by the severity and novelty of the allegation, but by the type of source reporting the issue as well as the credibility of this source. Hence, these results lend some support to a socially constructed view of reputational damage, in which being portrayed by prominent actors as deviating from the norm is more important than the actual deviation from the goal of the norm itself. (shrink)

We analyse Irish managers' perceptions about the degree of wrongness of ten types of unethical conduct. In-person interviews with 348 managing directors of Irish-owned businesses who report their perceptions of the degree of wrongness of ten business ethics problems (the dependent variables) yield the data for our study. Predictors of managers' ratings include the existence of a business code of ethics, perceived frequency of occurrence of the given acts, company size and sector, union membership, Irish business ownership and independence (the (...) independent variables). Results indicate that approximately 75% of those sampled are independent Irish owned businesses but few (only 22% of this sample) have a formal business code. Regression analyses reveal that small firms with a code of ethics predict higher wrongness ratings for managers in regard to the practices of unfair pricing and delayed payments (unethical behavior involving firms) but managers also consider such acts the least wrong overall. Wrongness ratings on the eight remaining unethical acts are explained by the manufacturing sector. However, manufacturing firms in Ireland also have a high percentage of unionised workers indicating that unions influence managerial thinking about social and employee ethics (e.g., discrimination, insider trading). The traditional adversarial Industrial Relations model is useful in noting that unions are important in setting ethical standards for indigenous Irish-owned businesses. Given this reality, management in small, manufacturing firms should work with unions to create a more formal ethics code in order to guard against corruption and to remain competitive in the international marketplace. Those without strong unions might articulate their own organisational values. (shrink)

Pregnant adolescents have a higher risk of poor maternal and fetal outcomes, particularly in the setting of concomitant maternal alcohol and other drug (AOD) use. Despite numerous programmes aimed at reducing overall teen pregnancy rates and the recognition of AOD use as a risk factor for unintended pregnancy in adolescents, interventions targeting this specific group have been sparse. In adult drug-using women, financial incentives for contraception have been provided but are ethically controversial. This article explores whether a trial (...) could ethically employ monetary incentives in adolescents with AOD use to promote the use of long-acting reversible contraception (LARC), with special attention to the relevant distinctions between adults and adolescents. We conclude that a trial of incentives to promote LARC in this patient population is ethically permissible if the incentives are small, are tied to completion of an educational activity to minimise the quick fix temptation and potential for non-attendance to the risks and benefits of LARC and are provided only to the adolescent after an assessment of her reasoning to rule out coercion (eg, by guardians) as motivation. Information about treatment for AOD use and follow-up care in case of problems with the contraceptive or desire for removal should also be provided. Before implementing such a trial, qualitative research with input from providers, potential patients and their parents should be conducted to inform the programme's specific structure. (shrink)

ABSTRACT:The notion of stakeholder salience based on attributes (e.g., power, legitimacy, urgency) is applied in the family business setting. We argue that where principal institutions intersect (i.e., family and business); managerial perceptions of stakeholder salience will be different and more complex than where institutions are based on a single dominant logic. We propose that (1) whereas utilitarian power is more likely in the general business case, normative power is more typical in family business stakeholder salience; (2) whereas in a (...) general business context legitimacy is socially constructed; for family stakeholders, legitimacy is based on heredity; and (3) whereas temporality and criticality are somewhat independent in general-business urgency, they are linked in the family business case because of family ties and family-centered non-economic goals. We apply this theoretical framework to position and integrate the contributions to this special section ofBusiness Ethics Quarterlyon “Stakeholder Theory, Ethics, Corporate Social Responsibility, and Family Enterprise.”. (shrink)

Concern for the rapidly growing scale and intensity of the human exploitation of the environment, in particular the alienation of natural ecosystems, but also resource exhaustion, pollution, and congestion, leads one to wonder about the short time. horizons allowed for in decision making. Time preference is dictated by the rate of interest, allowing in practice a horizon often not exceeding several decades. I argue that this is unsatisfactory. Some minimal social rate of discount should not be enforced. Instead, it is (...) more feasible to set absolute environmental standards, thereby introducing quantity constraints on our decision making, within which time preference can be permitted to find its own level. This acknowledges that the myopia of human vision may not be a flaw but rather a biological design which has served us weIl in evolution. It may, therefore, be better to change the rules by introducing self-imposed collective constraints than to try to change the shortsightedness of people in their day-to-day grass-roots decision making. (shrink)