Philosophy of Science After Feminism is an important contribution to philosophy of science, in that it argues for the central relevance of advances from previous work in feminist philosophy of science and articulates a new vision for philosophy of science going in to the future. Kourany’s vision of philosophy of science’s future as “socially engaged and socially responsible” and addressing questions of the social responsibility of science itself has much to recommend it. I focus the book articulation of an ethical-epistemic (...) ideal for science, the Ideal of Socially Responsible Science, compare it to recent work in the same vein by Heather Douglas, and argue for some advantages of Kourany’s approach. I then ask some critical question about the view, particularly with respect to the source of values that are to be integrated into science and the status of values that are to be so integrated. I argue that Kourany is too sanguine about where the values that inquirers will use come from and that these values seem to be accorded too fixed a status in her account. (shrink)
This is a review of the book ‘Memory Evolutive Systems; Hierarchy, Emergence, Cognition’, by A. Ehresmann and J.P. Vanbremeersch. I welcome the use of category theory and the notion of colimit as a way of describing how complex hierarchical systems can be organised, and the notion of categories varying with time to give a notion of an evolving system. In this review I also point out the relation of the notion of colimit to ideas of communication; the necessity of communications (...) to be symbolic representations; and the use of an analogy with mathematics to spell out some of the necessities of such a mode of communication to be powerful, robust and efficient. (shrink)
Descartes is often accused of having fragmented the human being into two independent substances, mind and body, with no clear strategy for explaining the apparent unity of human experience. Deborah Brown argues that, contrary to this view, Descartes did in fact have a conception of a single, integrated human being, and that in his view this conception is crucial to the success of human beings as rational and moral agents and as practitioners of science. The passions are pivotal in this, (...) and in a rich and wide-ranging discussion she examines Descartes' place in the tradition of thought about the passions, the metaphysics of actions and passions, sensory representation, and Descartes' account of self-mastery and virtue. Her study is an important and original reading not only of Descartes' account of mind-body unity but also of his theory of mind. (shrink)
Brown, Jean Review(s) of: Indexer please enter the following minimum information (where available): TITLE, AUTHOR(S) and ISBN for each book reviewed.Supernatural selection: How religion Evolved, by Matt J. Rossano Oxford Press. 2010.
In this article, we focus on the concept of leadership ethics and make observations about transformational, transactional and servant leadership. We consider differences in how each definition of leadership outlines what the leader is supposed to achieve, and how the leader treats people in the organization while striving to achieve the organization's goals. We also consider which leadership styles are likely to be more popular in organizations that strive to maximize short run profits. Our paper does not tout or degrade (...) any of these leadership theories. Instead, it points out which theories allow reason to play more than a minimal role in ethical decision-making, as well as those that are most consistent with a firm's desire to achieve efficiency in the short run. We explain our view that the way leadership is practiced in large, bureaucratic organizations suggests that ethics is often absent from the leader's decision-making process. Consequently, we suggest that before we engage in a meaningful dialogue about what kind of leaders we might really want in business, we must consider how much short-run profit we are willing to forego in exchange for more ethical corporate cultures. (shrink)
The food industry faces many significant risks from public criticism of corporate social responsibility (CSR) issues in the supply chain. This paper draws upon previous research and emerging industry trends to develop a comprehensive framework of supply chain CSR in the industry. The framework details unique CSR applications in the food supply chain including animal welfare, biotechnology, environment, fair trade, health and safety, and labor and human rights. General supply chain CSR issues such as community and procurement are also considered. (...) Ultimately, the framework serves as a comprehensive tool to support food industry practitioners and researchers in the assessment of strategic and operational supply chain CSR practices. (shrink)
A novel conceptual framework is introduced for the Complexity Levels Theory in a Categorical Ontology of Space and Time. This conceptual and formal construction is intended for ontological studies of Emergent Biosystems, Super-complex Dynamics, Evolution and Human Consciousness. A claim is defended concerning the universal representation of an item’s essence in categorical terms. As an essential example, relational structures of living organisms are well represented by applying the important categorical concept of natural transformations to biomolecular reactions and relational structures that (...) emerge from the latter in living systems. Thus, several relational theories of living systems can be represented by natural transformations of organismic, relational structures. The ascent of man and other living organisms through adaptation, is viewed in novel categorical terms, such as variable biogroupoid representations of evolving species. Such precise but flexible evolutionary concepts will allow the further development of the unifying theme of local-to-global approaches to highly complex systems in order to represent novel patterns of relations that emerge in super- and ultra-complex systems in terms of compositions of local procedures. Solutions to such local-to-global problems in highly complex systems with ‘broken symmetry’ might be possible to be reached with the help of higher homotopy theorems in algebraic topology such as the generalized van Kampen theorems (HHvKT). Categories of many-valued, Łukasiewicz-Moisil (LM) logic algebras provide useful concepts for representing the intrinsic dynamic ‘asymmetry’ of genetic networks in organismic development and evolution, as well as to derive novel results for (non-commutative) Quantum Logics. Furthermore, as recently pointed out by Baianu and Poli (Theory and applications of ontology, vol 1. Springer, Berlin, in press), LM-logic algebras may also provide the appropriate framework for future developments of the ontological theory of levels with its complex/entangled/intertwined ramifications in psychology, sociology and ecology. As shown in the preceding two papers in this issue, a paradigm shift towards non-commutative, or non-Abelian, theories of highly complex dynamics—which is presently unfolding in physics, mathematics, life and cognitive sciences—may be implemented through realizations of higher dimensional algebras in neurosciences and psychology, as well as in human genomics, bioinformatics and interactomics. (shrink)
Following Burge, many anti-individualists suppose that a subject can possess a concept even if she incompletely understands it. While agreeing that this is possible, I argue that there is a limit on the extent to which a subject can incompletely understand the set of concepts she thinks with. This limit derives from our conception of our ability to reflectively evaluate our own thoughts or, as Burge puts it, our ability to engage in critical reasoning. The paper extends Burge's own work (...) on critical reasoning. He argued that critical reasoning imposes a limit on the extent to which we can be mistaken about what thoughts we are having; in general, we can know non-empirically what we are thinking (Burge, "Our Entitlement to Self-Knowledge", Proceedings of the Aristotelian Society XCVI, 1996). He does not explicitly consider whether critical reasoning also imposes a limit on incomplete understanding of thoughts. (shrink)
The main contribution of this paper is a new account of how a community may introduce a term for a natural kind in advance of knowing the correct scientific account of that kind. The account is motivated by the inadequacy of the currently dominant accounts of how a community may do this, namely those proposed by Kripke and by Putman. Their accounts fail to deal satisfactorily with the facts that (1) typically, an item that instantiates one natural kind instantiates several (...) - 'the higher-level natural kinds problem', and (2) natural kinds often occur in nature in impure form - 'the composition problem' .On the account I propose, a term for a natural kind gains its reference by being associated with a recognitional capacity for that kind. I show how members of a scientifically ignorant community could have a recognitional capacity for a natural kind, say gold, as opposed to a certain kind of appearance, for instance the appearance that gold actually has. I argue that members of such a community can have recognitional capacities for particular natural kinds despite the actual or possible existence of duplicate kinds, e.g. water. After developing the account in detail, I show how it can deal with the two problems faced by Kripke's and Putnam's problem. The case of natural kind terms is crucial to the central debate in the philosophy of language and the philosophy of mind about whether we can refer non-descriptively to objects and kinds in the world. I take the account I propose to be a non-descriptive account of linguistic reference to natural kinds that can be used to support externalism in the philosophy of mind. (shrink)
Psychological egoism is, I suppose, regarded by most philosophers as one of the more simple-minded fallacies in the history of philosophy, and dangerous and seductive too, contriving as it does to combine cynicism about human ideals and a vague sense of scientific method, both of which make the ordinary reader feel sophisticated, with conceptual confusion, which he cannot resist. For all of these reasons it springs eternal, in one form or another, in the breasts of first-year students, and offers excellent (...) material for their philosophy instructors, who like nothing better than an edifice of sturdy appearance but with rotten foundations on which to display their skill as demolition experts. (shrink)
Despite eschewing the utility of ends or purposes in natural philosophy, Descartes frequently engages in functional explanation, which many have assumed is an essentially teleological form of explanation. This article considers the consistency of Descartes's appeal to natural functions, advancing the idea that he is utilizing a non-normative, non-teleological form of functional explanation. It will be argued that Cartesian functional analysis resembles modern causal functional analysis, and yet, by emphasizing the interdependency of parts of biological systems, is able to avoid (...) many of the problems attendant upon modern causal theories. It is for this reason, if no other, that the study of Descartes's natural philosophy should be of interest to contemporary theorists of functional analysis. (shrink)
I want to make plausible the following claim:Analyzing scientific inquiry as a species of socially distributed cognition has a variety of advantages for science studies, among them the prospects of bringing together philosophy and sociology of science. This is not a particularly novel claim, but one that faces major obstacles. I will retrace some of the major steps that have been made in the pursuit of a distributed cognition approach to science studies, paying special attention to the promise that such (...) an approach holds out for bridging the rift between philosophy and the social studies of science. (shrink)
Ron Giere's recent book Scientific Perspectivism sets out an account of science that attempts to forge a via media between two popular extremes: absolutist, objectivist realism on the one hand, and social constructivism or skeptical anti-realism on the other. The key for Giere is to treat both scientific observation and scientific theories as perspectives, which are limited, partial, contingent, context-, agent- and purpose-dependent, and pluralism-friendly, while nonetheless world-oriented and modestly realist. Giere's perspectivism bears significant similarly to early writings by Paul (...) Feyerabend and John Dewey. Comparing these to Giere's work not only uncovers a consilience of ideas, but also can help to fill out Giere's account in places where it is under-developed, as well as helping us understand the work of these earlier authors and their continuing relevance to contemporary concerns in philosophy of science. (shrink)
n 1909, the 50th anniversary of both the publication of Origin of the Species and his own birth, John Dewey published "The Influence of Darwin on Philosophy." This optimistic essay saw Darwin's advance not only as one of empirical or theoretical biology, but a logical and conceptual revolution that would shake every corner of philosophy. Dewey tells us less about the influence that Darwin exerted over philosophy over the past 50 years and instead prophesied the influence it would (or should) (...) take in the future. I will discuss this landmark paper and the key lessons Dewey draws from Darwinism for philosophy, and give a preliminary assessment of how well we've done so far. (Dewey would be largely disappointed.). (shrink)
Carlo Rovelli's relational interpretation of quantum mechanics holds that a system's states or the values of its physical quantities as normally conceived only exist relative to a cut between a system and an observer or measuring instrument. Furthermore, on Rovelli's account, the appearance of determinate observations from pure quantum superpositions happens only relative to the interaction of the system and observer. Jeffrey Barrett ([1999]) has pointed out that certain relational interpretations suffer from what we might call the ‘determinacy problem', but (...) Barrett misclassifies Rovelli's interpretation by lumping it in with Mermin's view, as Rovelli's view is quite different and has resources to escape the particular criticisms that Barrett makes of Mermin's view. Rovelli's interpretation still leaves us with a paradox having to do with the determinacy of measurement outcomes, which can be accepted only if we are willing to give up on certain elements of the ‘absolute’ view of the world. (shrink)
In recent years, pragmatism in general and John Dewey in particular have been of increasing interest to philosophers of science. Dewey's work provides an interesting alternative package of views to those which derive from the logical empiricists and their critics, on problems of both traditional and more recent vintage. Dewey's work ought to be of special interest to recent philosophers of science committed to the program of analyzing ``science in practice.'' The core of Dewey's philosophy of science is his theory (...) of inquiry---what he called ``logic.'' There is a major lacuna in the literature on this point, however: no contemporary philosophers of science have engaged with Dewey's logical theory, and scholars of Dewey's logic have rarely made connections with philosophy of science. This paper aims to fill this gap, to correct some significant errors in the interpretation of key ideas in Dewey's logical theory, and to show how Dewey's logic provides resources for a philosophy of science. (shrink)
Common wisdom includes expressions such as “there is no accounting for taste'’ that express a widely-accepted subjectivism about taste. We commonly say things like “I can’t stand anything with onions in it'’ or “Oh, I’d never eat sushi,'’ and we accept such from our friends and associates. It is the position of this essay that much of this language is actually quite unacceptable. Without appealing to complete objectivism about taste, I will argue that there are good reasons to think that (...) there will be fairly wide agreement between experienced palates on aesthetic preferences, and that this result will not necessarily agree with unexperienced and unreflective opinions on the matter. Subjectivism about aesthetic preference can be taken to justify the practice of picking eating (after all, who is better to say what I’ll enjoy than me?), while the position of this paper is that such picky eating is a moral failing. To be a picky eater is to have a significant lack of openness to new experiences. It involves an irresponsible level of fallibilism with respect to taste. Never venturing into new aesthetic landscapes leads to a sort of repetitiveness, which in turn leads to a life full of blandness and banality. (shrink)
The present study extends the study of individuals' ethical ideology withinthe context of marketing ethics issues. A national sample of marketing professionals participated. Respondents' ethical ideologies were classified as absolutists, situationists, exceptionists, or subjectivists using the Ethical Position Questionnaire (Forsyth, 1980). Respondents then answered questions about three ethically ambiguous situations common to marketing and sales. The results indicated that marketers' ethical judgments about the situations differed based on their ethical ideology, with absolutists rating the actions as most unethical. The findings (...) are consistent with those of two earlier studies that utilized samples of business students (Barnett et al., 1994, 1995). The results suggest that personal moral philosophy is an important influence on ethical decision making that should be considered in empirical studies of business ethics. The results also support the utility of the Ethical Position Questionnaire (Forsyth, 1980) as a means for researchers and practitioners to assess individuals' ethical ideology. (shrink)
In this paper I do a bit of theoretical work in neo-Bohrian interpretation quantum mechanics, making explicit and clarifying a concept that does important work in Bohr's own discussions of quantum theory and complementarity, and has been discussed by certain of Bohr's contemporary interpreters. It is not an attempt at Bohr exegesis, but an attempt to make a contribution to foundations of physics that begins from Bohr's suggestive and insightful, though sometimes murky, ideas.
I consider whether one particular anti-individualist claim, the doctrine of object-dependent thoughts (DODT), is compatible with the Principle of Privileged Access, or PPA, which states that, in general, a subject can have non-empirical knowledge of her thought contents. The standard defence of the compatibility of anti-individualism and PPA emphasises the reliability of the process which produces a subject's second order beliefs about her thought contents. I examine whether this defence can be applied to DODT, given that DODT generates the possibility (...) of illusions of thought. Drawing on general epistemological literature, I distinguish several senses of reliability, and argue that in the relevant sense-'global reliability'-DODT does sometimes threaten reliability and hence PPA. (shrink)
Stakeholder theory provides a framework for investigating the relationship between corporate social performance (CSP) and corporate financial performance. This relationship is investigated by examining how change in CSP is related to change in financial accounting measures. The findings provide some support for a tenet in stakeholder theory which asserts that the dominant stakeholder group, shareholders, financially benefit when management meets the demands of multiple stakeholders. Specifically, change in CSP was positively associated with growth in sales for the current and subsequent (...) year. This indicates that there are short-term benefits from improving CSP. Return on sales was significantly positively related to change in CSP for the third financial period, indicating that long-term financial benefits may exist when CSP is improved. (shrink)
In the first part of this paper, I will sketch the main features of traditional models of evidence, indicating idealizations in such models that I regard as doing more harm than good. I will then proceed to elaborate on an alternative model of evidence that is functionalist, complex, dynamic, and contextual, which I will call DYNAMIC EVIDENTIAL FUNCTIONALISM. I will demonstrate its application to an illuminating example of scientific inquiry, and defend it from some likely objections. In the second part, (...) I will use that alternative to solve a variety of classic and contemporary problems in the literature on scientific evidence having to do with the empirical basis of science and the use of evidence in public policy. (shrink)
This paper addresses the political constraints on science through a pragmatist critique of Philip Kitcher’s account of “well-ordered science.” A central part of Kitcher’s account is his analysis of the significance of items of scientific research: contextual and purpose-relative scientific significance replaces mere truth as the aim of inquiry. I raise problems for Kitcher’s account and argue for an alternative, drawing on Peirce’s and Dewey’s theories of problem-solving inquiry. I conclude by suggesting some consequences for understanding the proper conduct of (...) science in a democracy. (shrink)
The thesis that the practice and evaluation of science requires social value-judgment, that good science is not value-free or value-neutral but value-laden, has been gaining acceptance among philosophers of science. The main proponents of the value-ladenness of science rely on either arguments from the underdetermination of theory by evidence or arguments from inductive risk. Both arguments share the premise that we should only consider values once the evidence runs out, or where it leaves uncertainty; they adopt a criterion of lexical (...) priority of evidence over values. The motivation behind lexical priority is to avoid reaching conclusions on the basis of wishful thinking rather than good evidence. The problem of wishful thinking is indeed real---it would be an egregious error to adopt beliefs about the world because they comport with how one would prefer the world to be. I will argue, however, that giving lexical priority to evidential considerations over values is a mistake, and unnecessary for adequately avoiding the problem of wishful thinking. Values have a deeper role to play in science than proponents of the underdetermination and inductive risk arguments have suggested. (shrink)
A categorical, higher dimensional algebra and generalized topos framework for Łukasiewicz–Moisil Algebraic–Logic models of non-linear dynamics in complex functional genomes and cell interactomes is proposed. Łukasiewicz–Moisil Algebraic–Logic models of neural, genetic and neoplastic cell networks, as well as signaling pathways in cells are formulated in terms of non-linear dynamic systems with n-state components that allow for the generalization of previous logical models of both genetic activities and neural networks. An algebraic formulation of variable ‘next-state functions’ is extended to a Łukasiewicz–Moisil (...) Topos with an n-valued Łukasiewicz–Moisil Algebraic Logic subobject classifier description that represents non-random and non-linear network activities as well as their transformations in developmental processes and carcinogenesis. The unification of the theories of organismic sets, molecular sets and Robert Rosen’s (M,R)-systems is also considered here in terms of natural transformations of organismal structures which generate higher dimensional algebras based on consistent axioms, thus avoiding well known logical paradoxes occurring with sets. Quantum bionetworks, such as quantum neural nets and quantum genetic networks, are also discussed and their underlying, non-commutative quantum logics are considered in the context of an emerging Quantum Relational Biology. (shrink)
Contemporary ways of understanding of science, especially in the philosophy of science, are beset by overly abstract and formal models of evidence. In such models, the only interesting feature of evidence is that it has a one-way ``support'' relation to hypotheses, theories, causal claims, etc. These models create a variety of practical and philosophical problems, one prominent example being the experimenter's regress. According to the experimenter's regress, good evidence is produced by good techniques, but which techniques are good is only (...) determined by whether they produce the evidence we expect. The best answer to this problem within the traditional approach relies on the concept of robust evidence, but this answer ultimately falls flat because it creates impossible requirements on good evidence. The problem can more easily be solved by rejecting abstract, formalistic models of evidence in favor of a model of inquiry which pays attention to the temporal complexity of the process of inquiry and the distinction between observational and experimental evidence. (shrink)
Burning fossil fuel in the North American continent contributes more to the CO2 global warming problem than in any other continent. The resulting climate changes are expected to alter food production. The overall changes in temperature, moisture, carbon dioxide, insect pests, plant pathogens, and weeds associated with global warming are projected to reduce food production in North America. However, in Africa, the projected slight rise in rainfall is encouraging, especially since Africa already suffers from severe shortages of rainfall. For all (...) regions, a reduction in fossil fuel burning is vital. Adoption of sound ecological resource management, especially soil and water conservation and the prevention of deforestation, is important. Together, these steps will benefit agriculture, the environment, farmers, and society as a whole. (shrink)
The growing interest in lifestyle campaigns as a means to promote public health has increased steadily during the past several decades. Governments, national health organizations, NGOs, and wealthy donors are collaborating with media professionals and academic scholars to address the pressing health issues of the 21st century. To counter the potential negative influences of hundreds of lifestyle advertising messages that media consumers are exposed to on a daily basis, health communication professionals are designing more sophisticated campaigns that blend beneficial health (...) information with various forms of entertainment media. This article discusses important ethical considerations raised by health professionals and media scholars and considers lifestyle campaigns within the context of competing ethical approaches to social change. A heuristic model is presented that facilitates a communitarian ethical approach to lifestyle campaigns, examining four important groups of stakeholders. Specific recommendations for future lifestyle campaigns based on this model are proposed. (shrink)
The growing interest in lifestyle campaigns as a means to promote public health has increased steadily during the past several decades. Governments, national health organizations, NGOs, and wealthy donors are collaborating with media professionals and academic scholars to address the pressing health issues of the 21st century. To counter the potential negative influences of hundreds of lifestyle advertising messages that media consumers are exposed to on a daily basis, health communication professionals are designing more sophisticated campaigns that blend beneficial health (...) information with various forms of entertainment media. This article discusses important ethical considerations raised by health professionals and media scholars and considers lifestyle campaigns within the context of competing ethical approaches to social change. A heuristic model is presented that facilitates a communitarian ethical approach to lifestyle campaigns, examining four important groups of stakeholders. Specific recommendations for future lifestyle campaigns based on this model are proposed. (shrink)
The simultaneous possession of conflicting beliefs is both possible and logical within current models of human cognition. Specifically, evidence of lateral inhibition and state-dependent memory suggests a means by which conflicting beliefs can coexist without requiring “mental exotica.” We suggest that paradoxical self-deception enables the self-deceiver to store important information for use at a later time.
This paper introduces the special issue of papers selected from those presented at the International Conference on Business Ethics in Transitional Economies, held March 20–22, 2002 in Celakovice and Prague, Czech Republic. A brief background on the conference is given, and a summary of the papers offered in this special issue is provided.
Working within weak subsystems of second-order arithmetic Z2 we consider two versions of the Baire Category theorem which are not equivalent over the base system RCA0. We show that one version (B.C.T.I) is provable in RCA0 while the second version (B.C.T.II) requires a stronger system. We introduce two new subsystems of Z2, which we call RCA+ 0 and WKL+ 0, and show that RCA+ 0 suffices to prove B.C.T.II. Some model theory of WKL+ 0 and its importance in view of (...) Hilbert's program is discussed, as well as applications of our results to functional analysis. (shrink)
Much philosophical attention has been devoted to “The Land Ethic,” especially by Anglo-American philosophers, but little has been paid to A Sand County Almanac as a whole. Read through the lens of continental philosophy, A Sand County Almanac promulgates an evolutionary-ecological world view and effects a personal self- and a species-specific Self-transformation in its audience. It’s author, Aldo Leopold, realizes these aims through descriptive reflection that has something in common with phenomenology-although Leopold was by no stretch of the imagination a (...) phenomenologist. Consideration of human-animal intersubjectivity, thematized in A Sand County Almanac, brings to light the moral problem of hunting and killing animal subjects. Leopold does not confront that problem, but it is confronted and resolved by Jose Ortega y Gassett, Henry Beston, and Paul Shepard in terms of an appropriate human relationship with wild-animal Others. Comparison with the genuinely Other-based Leopold-Ortega-Beston-Shepard wild-animal ethic shows the purportedly Other-based humanand possibly animal ethic of Emmanuel Levinas actually to be Same-based after all. (shrink)
Male and female participants were instructed to produce an altered response pattern on an Implicit Association Test measure of gender identity by slowing performance in trials requiring the same response to stimuli designating own gender and self. Participants’ faking success was found to be predictable by a measure of slowing relative to unfaked performances. This combined task slowing (CTS) indicator was then applied in reanalyses of three experiments from other laboratories, two involving instructed faking and one involving possibly motivated faking. (...) Across all studies involving instructed faking, CTS correctly classified 75% of intentionally faking participants. Using the CTS index to adjust faked Implicit Association Test scores increased the correlation of CTS-adjusted measures with known group membership, relative to unadjusted (i.e., faked) measures. (shrink)
This paper proposes a new definition of vocation that honors the concept’s ancient roots, is consistent with how the term is used in modern contexts, and also expands the concept for greater versatility. We discuss the centrality of service in the concept of vocation locating it as part of the bridge between a student’s core values and their embodiment in community life. The commitment to one’s profession begins before independent status as a practitioner of that profession. It begins in training (...) during which service-learning is a laudable and increasingly popular way to connect to the charitable aspects of professionalism. We further discuss how the concept of vocation is especially appropriate in the context of citizenship. Citizenship is a way of belonging to a community. It is a relationship that requires giving and taking. Service-learning is an ideal way to practice good citizenship on a local scale, and prepare future professionals for understanding their communities and commitments morebroadly. We discuss how these concepts are being emphasized in the medical informatics master’s degree program at Saint Louis University through the incorporation of a service-learning module. We describe the module, discussing how it can be applied to curricula at other institutions and modified for inclusion in other types of courses. (shrink)
The non-financial effects (NFE) antitakeover amendment addresses the duties of company directors and management when faced with a possible takeover bid. The NFE amendment either permits or requires managers to consider the interests of the company's stakeholders during takeover bids. Other types of antitakeover devices have been viewed as protecting either stockholder or management interests. The NFE amendment would appear to protect a broad spectrum of interests including those of company employees, creditors, and the community in which the company operates. (...) Positive market returns to the adoption of NFE amendments provide some evidence that investors approve. The percent of both management and institutional ownership are positively related to the market reaction to the NFE amendment adoption. To the extent that institutional ownership proxies for the broad spectrum of stakeholder interest, NFE devices, unlike some other amendments that have been studied, appear to be in the interests of more than a single interest group. (shrink)
