This study focuses on CEO hubris and its detrimental effect on corporate financial performance along with an examination of critical corporate governance contingencies that may moderate the negative effect. From 654 observations of 164 Korean firms over the years 2001–2008, we found that CEO power exacerbated the negative effect of CEO hubris on corporate financial performance, whereas board vigilance mitigated it. This study provides empirical evidence that entrenchment problems arising from CEO hubris would be exacerbated as CEOs become more powerful, (...) but weakened as board of directors become more vigilant. Theoretical contributions and practical implications will be discussed. (shrink)

This paper aims to argue that school rituals played critical roles for the educational purpose in Confucian school education in the Joseon period. Diverse rituals were performed in Confucian schools of the Joseon period, and these rituals formed a comprehensive ritual system of the school education. These school rituals can be read to manifest the ideals of Confucian philosophy of education and to be also utilized as one of the important educational tools or programs through which to hand down the (...) Confucian values. Based on this interpretation, this paper asserts that school rituals were in no way irrelevant to their educational function for the society then nor that they served only for the political edification, but constituted part of a comprehensive system of education in pursuit of the formation of the Confucian personhood as one of the important pillars of Confucian school education in the Joseon period. (shrink)

Environmental, Social, and Governance criteria are now considered significant, global non-financial evaluating factors of corporate value. However, no attention is given to what influences the integration of ESG information by individual investors in their investment decisions. This study first identifies different types of information investors use to make investment decisions. Risks identified in information integration in investment decision making is reviewed. Next, the Unified Theory of Acceptance and Use of Technology model is used to identify individual investors’ investment tendencies and (...) the factors affecting integration of ESG information into investment decisions. Each of four categories for UTAUT innovation adoption factors are discussed in relation to how they affect individual investors’ integration of ESG information. Standardization of ESG reporting and evaluation frameworks would reduce efforts to adopt ESG information and could build a strong foundation for facilitating ESG information integration. Corporates’ efforts to further communicate their ESG management through their investor relations and active governmental well as non-governmental organizations’ participation are recommended. (shrink)

황금률의 윤리에 관한 기존의 연구들은 주로 황금률과 상호주의 그리고 사랑의 법간의 관계를 다루어왔다. 황금률에 관한 기존의 이러한 연구들은 중대한 한계를 노정하고 있다. 이러한 연구들은 무엇보다도, 황금률이 제시되는 텍스트를 선택적으로 취함으로써, 황금률의 특징에 대한 혼동을 초래할 뿐만 아니라, 동일한 텍스트에 나타나는 다양한 도덕규범들에 대해 일관적인 설명을 결여하고 있다. 이러한 한계들로 인하여 기존의 연구들은 황금률의 윤리가 가지는 독특성을 보여주지 못하고 있는데, 그 독특성은 이 논문에서 제시하는 간접적 삼자관계의 논리로 표현될 수 있는 것이다. 간접적 삼자관계는 텍스트 내에 혼재한 다양한 도덕규범들의 관계를 일관적으로 설명하고 (...) 황금률의 성격을 해명하는 한 가지 방법을 제시한다. (shrink)

Modern schooling in Korea, which was officially established by law in 1949, is well known for its function as an engine of economic success in modern Korea. Although this fact seems to be world-wid...

BackgroundThis study aimed to identify the healthcare providers’ experience and perspectives toward end-of-life care decisions focusing on end-of-life discussion and physician’s order of life-sustaining treatment documentation in Korea which are major parts of the Life-Sustaining Treatment Act.MethodsA cross-sectional survey was conducted using a questionnaire developed by the authors. A total of 474 subjects—94 attending physicians, 87 resident physicians, and 293 nurses—participated in the survey, and the data analysis was performed in terms of frequency, percentage, mean and standard deviation using the (...) SPSS 24.0 program.ResultsStudy results showed that respondents were aware of terminal illness and physician’s order of life-sustaining treatment in Korea well enough except for some details. Physicians reported uncertainty in terminal state diagnosis and disease trajectory as the most challenging. Study participants regarded factors (related to relationships and communications) on the healthcare providers’ side as the major impediment to end-of-life discussion. Study respondents suggested that simplification of the process and more staff are required to facilitate end-of-life discussion and documentation.ConclusionBased on the study results, adequate education and training for better end-of-life discussion are required for future practice. Also, a simple and clear procedure for completing a physician’s order of life-sustaining treatment in Korea should be prepared and legal and ethical advice would be required. Since the enactment of the Life-Sustaining Treatment Act, several revisions already have been made including disease categories, thus continuous education to update and support clinicians is also called for. (shrink)

본 연구는 칸트가 『순수이성비판』 초판에 짧게 개략만 하고 더 이상 연구를 진척시키지 않은 “직관에서의 각지의 종합(Synthesis der Apprehension in der Anschauung)”에 주목하며, ｢교수취임논문｣에서부터 전제한 ‘표상들의 관계조건’으로서의 시간 의미를 규명한다.BR 지금까지 직관에서의 각지 종합에 대한 국내 연구는 적은 수를 차지한다. 시간의 관점에서 해명한 논문도 드물 것으로 생각된다. 더욱이 1770년 논문에 대한 연구 역시 국내⋅외로 아직까지 소수이며, 그중 시간론을 독립적으로 다룬 논문은 찾기 어렵다. 이러한 점에서 본 연구는, 사유의 한 과정으로 구성되는 각지의 종합과 그에 함축된 시간의 의미를 취임논문과의 연계 속에 분석하는 한편, (...) 개념의 현시적 측면에서 논리적 개념어가 재현할 수 없는 시간의 내적 직관을 시 예시를 통해 구체적으로 고찰한다.BR 『순수이성비판』 초판 초월 감성론의 시간 편은 “선험적 개념들의 객관적 타당성”을 입증하는 데 주력한 반면, 취임논문은 공상을 포함한 상상과 경험 가능한 모든 표상내용을 시간 영역 안에 포함시켰다. 그런데 1770년 논문이 의미하는 대로 계기적 시간이 ‘표상들의 관계 조건’으로서 규정된다면, 시간의 범위는 무한정 폭넓어진다. 왜냐하면 1770년 논문의 시간론에는 표상내용이 무엇이 되었든, 어떻게 상이한 표상들의 틈 사이로 또 다른 표상이 잇따라 관계 맺을 수 있는지가 관건이기 때문이다. 따라서 본고는 취임논문의 시간론을 고찰함에 있어, 다양한 표상들에 대한 시간의 순수 관계 논리가 무엇인지를 정초함과 동시에, 각지의 종합 내용을 시간 관점에서 재구성하고 취임논문을 바탕으로 논구한다.BR 본 논문에서, 시적 반추를 통한 시간론 연구는 간학문적 철학연구이다. 이는 단순 논리적 이해를 넘어, 칸트가 포착한 직관의 통일성을 시의 직접적 직관 속에 재현하고 재경험하는 단초를 제공한다. 특히 박주택 시인의 ｢배경들｣은 칸트가 더 이상 파고들지 않은 생산적이며 점층적인 시간(successio) 개념을 ‘열려있는 계기적 시간의 지평’ 관점으로 확장하는 매개점이 되어준다. 또한 ‘근원적 표상으로서 시간’의 의미를 성찰하게 하는 고은의 ｢무제 456｣ 시편은, 한 개념에 함축된 다양한 의미를 개관하게 한다. 프로스트의 ｢가지 않은 길｣ 역시 우리로 하여금 선형적 시간에 대한 새로운 의미를 모색하게 하는 계기가 되어줄 것이다. (shrink)

This ninth volume of Collected Papers includes 87 papers comprising 982 pages on Neutrosophic Theory and its applications in Algebra, written between 2014-2022 by the author alone or in collaboration with the following 81 co-authors (alphabetically ordered) from 19 countries: E.O. Adeleke, A.A.A. Agboola, Ahmed B. Al-Nafee, Ahmed Mostafa Khalil, Akbar Rezaei, S.A. Akinleye, Ali Hassan, Mumtaz Ali, Rajab Ali Borzooei , Assia Bakali, Cenap Özel, Victor Christianto, Chunxin Bo, Rakhal Das, Bijan Davvaz, R. Dhavaseelan, B. Elavarasan, Fahad Alsharari, T. (...) Gharibah, Hina Gulzar, Hashem Bordbar, Le Hoang Son, Emmanuel Ilojide, Tèmítópé Gbóláhàn Jaíyéolá, M. Karthika, Ilanthenral Kandasamy, W.B. Vasantha Kandasamy, Huma Khan, Madad Khan, Mohsin Khan, Hee Sik Kim, Seon Jeong Kim, Valeri Kromov, R. M. Latif, Madeleine Al-Tahan, Mehmat Ali Ozturk, Minghao Hu, S. Mirvakili, Mohammad Abobala, Mohammad Hamidi, Mohammed Abdel-Sattar, Mohammed A. Al Shumrani, Mohamed Talea, Muhammad Akram, Muhammad Aslam, Muhammad Aslam Malik, Muhammad Gulistan, Muhammad Shabir, G. Muhiuddin, Memudu Olaposi Olatinwo, Osman Anis, Choonkil Park, M. Parimala, Ping Li, K. Porselvi, D. Preethi, S. Rajareega, N. Rajesh, Udhayakumar Ramalingam, Riad K. Al-Hamido, Yaser Saber, Arsham Borumand Saeid, Saeid Jafari, Said Broumi, A.A. Salama, Ganeshsree Selvachandran, Songtao Shao, Seok-Zun Song, Tahsin Oner, M. Mohseni Takallo, Binod Chandra Tripathy, Tugce Katican, J. Vimala, Xiaohong Zhang, Xiaoyan Mao, Xiaoying Wu, Xingliang Liang, Xin Zhou, Yingcang Ma, Young Bae Jun, Juanjuan Zhang. (shrink)

The epistemic account and the noetic account hold that the essence of scientific progress is the increase in knowledge and understanding, respectively. Dellsén (2018) criticizes the epistemic account (Park, 2017a) and defends the noetic account (Dellsén, 2016). I argue that Dellsén’s criticisms against the epistemic account fail, and that his notion of understanding, which he claims requires neither belief nor justification, cannot explain scientific progress, although it can explain fictional progress in science-fiction.

Suppose that scientific realists believe that a successful theory is approximately true, and that constructive empiricists believe that it is empirically adequate. Whose belief is more likely to be false? The problem of underdetermination does not yield an answer to this question one way or the other, but the pessimistic induction does. The pessimistic induction, if correct, indicates that successful theories, both past and current, are empirically inadequate. It is arguable, however, that they are approximately true. Therefore, scientific realists overall (...) take less epistemic risk than constructive empiricists. (shrink)

Nickles (2017) advocates scientific antirealism by appealing to the pessimistic induction over scientific theories, the illusion hypothesis (Quoidbach, Gilbert, and Wilson, 2013), and Darwin’s evolutionary theory. He rejects Putnam’s (1975: 73) no-miracles argument on the grounds that it uses inference to the best explanation. I object that both the illusion hypothesis and evolutionary theory clash with the pessimistic induction and with his negative attitude towards inference to the best explanation. I also argue that Nickles’s positive philosophical theories are subject to (...) Park’s (2017a) pessimistic induction over antirealists. (shrink)

Although early-stage finance is critical to the growth of most ventures, it is even more important for social ventures as they face the challenges of balancing their social and commercial objectives. Drawing on institutional logics and signaling theory, this study uses a panel data set of 3,401 nascent social ventures to investigate the important role philanthropic grant funding plays in the organizational and financial development of social ventures. We find mixed results, with positive effects on employment and subsequent access to (...) debt finance, but no effects on revenues and access to equity. Our findings connect these theories by suggesting philanthropic grants provide social ventures with flexibility to invest in human capital without pushing them to pursue short-term financial objectives, and that receiving a philanthropic grant provides a signal that is interpreted differently by debt and equity financiers. These findings are especially relevant as funders increasingly use grants to support social entrepreneurship. (shrink)

Humility is regarded as beneficial for individuals, relationships, and society. It is believed to increase well-being and tolerance of difference and enhance interpersonal relationships. Educating for humility could be regarded as an important element and goal of education as it helps students realise their limitations and consider different (even opposite) perspectives. However, as with other virtues, humility may be conceptualised and expressed differently across diverse cultural communities. Similarly, how to educate for humility may look different in schools around the world. (...) This special issue includes varied explorations of the philosophical and theoretical roots underpinning different conceptions of humility and their implications for education. Taken together, the papers in this issue provide a foundation for understanding the importance of humility across cultural and historical traditions of past and present, particularly those of western and Chinese societies. As such, this special issue can be informative to colleagues in virtue ethics, comparative philosophy, and moral education, as well as others who are interested in understanding contexts and meanings of humility around the world, in society and education today. (shrink)

South Korean industrial conglomerates (chaebols) are discussed in the context of value-based management (VBM). Recent economics and finance literature on the diversion of corporate resources from the firm to the controlling shareholders (tunneling), for which chaebols are notoriously known, is discussed. Chaebols have engaged in empire building and expropriation of minority shareholders, distorting the process of efficient resource allocation in South Korea, and became the root cause of the 1997 financial crisis. We argue that the 1997 crisis should be viewed (...) as a consequence of chaebols’ systematic deviation from the guiding principles of VBM. We use tunneling within chaebols as an example of the need to directly address prohibition of the expropriation of minority shareholders as a primary postulate of VBM. We argue that VBM should require that the value generated by the firm not be expropriated from minorities, or any stakeholders, by dominant shareholders. We also examine moral and ethical considerations and present explanations as to why the unethical practice of tunneling has been tolerated by the South Korean public. We show that public opinion on tunneling is changing and that the treatment of minority shareholders by chaebols’ controlling families is becoming increasingly unacceptable to South Koreans. (shrink)

How does a company achieve long-term survival? This study starts with the question of why, among companies on the verge of bankruptcy, some survive and some break up. This study argues that the long-term survival of a company is determined by not only its economic performance but also its social performance. It clarifies that sustainable corporate social responsibility practices facilitate long-term survival. Thus, this study analyzed 259 CSR actions performed by eight representative long-lived companies in Korea and how the various (...) CSR actions helped these companies overcome crises and survive. The common CSR actions practiced by all the long-lived companies had a positive influence on forming social capital with primary stakeholders and securing legitimacy from secondary stakeholders, which in turn had a significant influence on maintaining survival. This study provides significant implications for the value of CSR practices that have been controversial, by presenting a model of how CSR actions facilitate corporate longevity. (shrink)

Van Fraassen contends that there is no argument that rationally compels us to disbelieve a successful theory, T. I object that this contention places upon him the burden of showing that scientific antirealists’ favorite arguments, such as the pessimistic induction, do not rationally compel us to disbelieve T. Van Fraassen uses the English view of rationality to rationally disbelieve T. I argue that realists can use it to rationally believe T, despite scientific antirealists’ favorite arguments against T.

In this study, we examine whether corporate environmental responsibility plays a role in enhancing operating performance in the financial services sector. Because achieving success with CER investing is often a long-term process, we maintain that by effectively investing in CER, executives can decrease their firms’ environmental costs, thereby enhancing operating performance. By employing a unique environmental dataset covering 29 countries, we find that the reducing of environmental costs takes at least 1 or 2 years before enhancing return on assets. We (...) also find that reducing environmental costs has a more immediate and substantial effect on the performance of financial services firms in well-developed financial markets than in less-developed financial markets. These results are economically and statistically significant and robust even after alleviating endogeneity and using an additional performance measure. We interpret our empirical results as supporting the social impact and reputation-building hypothesis. Our findings also suggest that policy makers dealing with corporate sustainability management should pursue an environment-centered industry policy not only at the manufacturing sector but also at the financial services sector, as firms in both sectors with lower environmental costs perform better. (shrink)

Healey (2019a) makes four comments on my (Park, 2019a) objections to van Fraassen’s positions. The four comments concern the issues of whether ‘disbelief’ is appropriate or inappropriate to characterize van Fraassen’s position, what the relationship between a theory and models is for van Fraassen, whether he believes or not that a theory is empirically adequate, and whether destructive empiricism is tenable or not. I reply to those comments in this paper.

A formulational debate is a debate over whether certain definitions of scientific realism and antirealism are useful or useless. By contrast, an epistemological debate is a debate over whether we have sufficient evidence for scientific realism and antirealism defined in a certain manner. I argue that Hilary Putnam’s definitions of scientific realism and antirealism are more useful than Bas van Fraassen’s definitions of scientific realism and constructive empiricism because Putnam’s definitions can generate both formulational and epistemological debates, whereas van Fraassen’s (...) can generate only formulational debates. (shrink)