Based on a general review of international, representative tissue banking policies that were described in the medical, ethics, and legal literature, this paper reviews the range of standards, both conceptually and in existing regulations, relevant to four main factors:(1) commercialization, (2) confidentiality, (3) informed consent, and (4) quality of research. These four factors were selected as reflective of some of the major ethical considerations that arise in the conduct of tissue banking research. The authors emphasize that any policy (...) or ethical guidelines designed to regulate tissue bank research should address all four factors. Whenever this sort of research is conducted between several institutions or several countries, the paper suggests that the relevant entities work collaboratively to harmonize their standards. (shrink)

Bauer, Taub, and Parsi's review of an international sample of standards on informed consent, confidentiality, commercialization, and quality of research in tissue banking reveals that no clear national or international consensus exists for these issues. The authors' response to the lack of uniformity in the meaning, scope, and ethical significance of the policies they examined is to call for the creation of uniform ethical guidelines. This raises questions about whether harmonization should consist of voluntary international standards or international regulations (...) that include an official oversight mechanism and sanctions for noncompliance, and about who should participate in the harmonization process. Moreover, the normative assumptions and political dynamics that shape global policymaking need to be addressed. This commentary explores the policy implications and normative questions raised by the idea of international ethical guidelines for the use of biotechnologies and biotechnological resources such as stored samples of human tissue. (shrink)

This paper reports on a recent symposium seminar series entitled ‘Governing genetic databases – collection, storage and use’ hosted by the Ethox Centre at the University of Oxford. It outlines the inadequacy of the current UK framework for governing genetic databases and biobanks and some of the implications of this. It then briefly describes and reflects on each of the five symposium papers.

The article attempts to examine the impact of banks' specifics and board of directors' characteristics on directors' remuneration (REM) of 38 Indian listed banks from 2010 to 2019. The current study is based on secondary data that are extracted from the Prowess IQ database. Fixed effect model is used for analysing the data and generalised method of moment is applied for dealing with endogeneity problem. Finally, the sample is classified into three groups in order to check the robustness of the (...) results. Results revealed that return on assets, size, and market capitalisation positively and significantly impact directors' REM of Indian listed banks. While banks' age, capital adequacy, current ratio, and board of directors' composition have an insignificant impact on directors' REM of Indian listed banks. The findings of the study provide new evidence about the impact of banks' specifics and board of directors' characteristics on directors' REM in the Indian banking sector. The findings suggest that firms' specifics are significant determinants of directors' REM. (shrink)

This article investigates the gender diversity of the corporate board of European Union banks. Employing a large sample of 612 European banks from 20 European countries, it identifies organizational characteristics that could be predictive of women’s presence on bank boards. We identify three factors that play a particularly important role in defining bank board gender diversity. First, the proportion of women on the board is higher for lower-risk banks. We argue that there may be some statistical discrimination behind (...) this relation, although it could also be explained by a real risk-aversion hypothesis. Second, banks with larger boards have a higher proportion of women on their boards, which could be considered a signal of some kind of preference for homogeneity on small boards. Finally, banks that have a growth orientation are more prone to include women on their board, since they may be seen as providers of diverse external resources that are more valued by firms operating under critical circumstances. (shrink)

Researchers are working to derive sperm from banked testicular tissue taken from pre-pubertal boys who face therapies or injuries that destroy sperm production. Success in deriving sperm from this tissue will help to preserve the option for these boys to have genetically related children later in life. For the twin moral reasons of preserving access and equity in regard to having such children, clinicians and researchers are justified in offering the option to the parents of all affected boys. (...) However, some parents may wish to decline the option to bank tissue from their boys because the technique may seem too unfamiliar or unusual, but over time people may become more comfortable with the technique as they have done with other novel assisted reproductive treatments. Other parents may wish to decline the option because of moral or religious reasons. A prominent natural law theory holds, for example, that the ARTs that would be involved in using sperm derived from banked tissue to produce a child are morally objectionable. Some parents might not want to bank tissue in order to shield their son from using ARTs they see as objectionable. Clinicians and researchers should respect parents who wish to decline banking tissue, but parents should ordinarily embrace choices that protect the possible interests their sons may have as adult men, including the wish to have genetically related children. (shrink)

Bio‐banking in research elicits numerous ethical issues related to informed consent, privacy and identifiability of samples, return of results, incidental findings, international data exchange, ownership of samples, and benefit sharing etc. In low and middle income (LMICs) countries the challenge of inadequate guidelines and regulations on the proper conduct of research compounds the ethical issues. In addition, failure to pay attention to underlying indigenous worldviews that ought to inform issues, practices and policies in Africa may exacerbate the situation. In this (...) paper we discuss how the African context presents unique and outstanding cultural thought systems regarding the human body and biological materials that can be put into perspective in bio‐bank research. We give the example of African ontology of nature presented by John Samwel Mbiti as foundational in adding value to the discourse about enhancing relevance of bio‐bank research in the African context. We underline that cultural rites of passage performed on the human body in majority of communities in Africa elicit quintessential perspective on beliefs about handling of human body and human biological tissues. We conclude that acknowledgement and inclusion of African indigenous worldviews regarding the human body is essential in influencing best practices in biobank research in Africa. (shrink)

The use of human tissue raises ethical issues of great concern to health care professionals, biomedical researchers, ethics committees, tissue banks and policy makers because of the heightened importance given to informed consent and patient autonomy. The debate has been intensified by high profile scandals such as the “baby hearts” debacle and revelations about the retention of human brains in neuropathology laboratories worldwide. Respect for patient’s rights seems, however, to impede research and development of clinical knowledge in contemporary (...) health care. The Common clinical endeavour argument and a Presumption for beneficial use argument suggest that the use of tissues for research and teaching in contemporary health care can respect patients and their values in multicultural communities where there are provisions for oversight and for opting not to contribute, both of which should respect the diverse views of different ethnic or cultural groups. (shrink)

In this paper, I use two films—Les Statues MeurrentAussi directed by Resnais and Marker and Sans Soleil as representatives of Left Bank cinema to show how they construct experiences of time and memory using various modernist strategies. Key to this is the use of a mental journey genre in modernist cinema and the construction of a facial dispositif which leads to a perceptual experiencing of inner states. Les Statues MeurrentAussi is a key film in the history of French cinema (...) as it highlights Alain Resnais’ and Chris Marker’s early commitment towards a politically avant-garde filmmaking style. The film was banned for many decades because it was highly critical of France’s colonial interests. The film is also a proof to the less emphasised collaboration between two pioneering directors and especially in their use of the essay film genre. Sans Soleil on the other hand is considered as a philosophical masterpiece because of its meditations on time and memory. In taking these two films, I hope not only to demonstrate cinema’s capability to generate affective spatio-temporal states but also to highlight a piece of film history which is often misappropriated under the tag of the French New Wave. (shrink)

More impetus needs to be placed on cord blood donationIn July, the Royal College of Obstetricians and Gynaecologists released a report on the uses and the potential perils of umbilical cord blood collection.1 This report has had the positive effect of drawing attention to what has hitherto been an under addressed topic of medical research and ethics. However, the focus and recommendations of the report say little about one important aspect of cord blood usage—research. Such an omission, although understandable from (...) an organisation primarily concerned with maternal and neonatal health, may nevertheless have implications for the broader applicability of the report’s recommendations, outside the immediate arena of patient care.The RCOG report deals with various aspects of cord blood collection and use—the harvesting procedure itself; cord blood transplantation treatment, either as an autologous cell transplant or as a donation for community use; and whether cord blood banking for personal use should be permitted or encouraged as a privately funded commercial enterprise. It also makes note of some of the legal and ethical issues surrounding cord blood and tissue banking more generally, concerns that will be of increasing importance as more biobanks are established worldwide. A large part of the report deals with concerns on neonatal and maternal safety and whether cord blood collection may pose a risk. These concerns may be valid and certainly, the health of mothers and children should not be compromised. The guidance provided by this report in relation to the collection procedure will undoubtedly assist maternity health professionals in this area.The main relevance of the RCOG …. (shrink)

As the debate about research on foetal tissue transplantation progressed, medical scientists learned more about the procedure and its potential for helping persons with degenerative brain disorders such as Parkinson's disease. Increased scientific knowledge significantly influenced the political process, yet it did not by any means resolve the debate. Rather, increased medical evidence served as a lens which focused discourse on particular issues related to foetal research, such as the details of obtaining informed consent, as well as technical matters (...) related to tissue transplantation, for example, that the creation of a tissue bank was unreasonable, and that foetuses of certain ages were required for the procedure. This increased focus changed the character of the debate on foetal tissue transplantation research, and convinced some law-makers that they should encourage financial support for the research despite their anti-abortion political views.The heart of the stalemate on transplantation research lay in rigid attachment to particular arguments, which in turn resulted in the disunity of the participants; this was compounded by the lack of persuasive scientific evidence that foetal tissue transplantation could significantly benefit those with Parkinson's disease. Privately supported clinical studies answered several important clinical questions while the ban on federal support remained in effect, however, and increased scientific knowledge was soon followed by an increasingly clear analysis of the relevant issues. By the time federal support for the research was permitted, the arguments of all of the interest groups had been altered by the findings of privately supported studies.As research continues under the auspices of a somewhat more permissive administration, these refined arguments and attitudes may continue to contribute to a stronger and more clearly defined public policy. (shrink)

Researchers are developing a fertility preservation technique?testicular tissue cryopreservation (TTCP)?for prepubescent boys who may become infertile as a result of their cancer treatment. Although this technique is still in development, some researchers are calling for its widespread use. They argue that if boys do not bank their tissue now, they will be unable to benefit from any therapies that might be developed in the future. There are, however, risks involved with increasing access to an investigational procedure. This (...) article examines four methods of expanding access to TTCP: (1) expansion of institutional review board (IRB)-approved research trials; (2) offering TTCP as an innovative procedure in hospitals; (3) offering TTCP as a standard practice in hospitals; and (4) commercialization of TTCP. The ethical and practical implications of each are evaluated through a comparison with umbilical cord blood banking (UCBB), a technology that has achieved widespread use based on similar claims of future benefit. (shrink)

It aimed to identify the strategic creativity in Islamic banks in Palestine between reality and implementation. The study adopted the descriptive analytical approach. A questionnaire was designed as a tool for the study. The study community consisted of all employees in Islamic banks from the top and middle management and the study has been applied to the Palestinian Islamic bank and the Arab Islamic Bank. The comprehensive inventory method was used, given the small size of the study sample, (...) as questionnaires were distributed to (175) employees, and a number of (5) categories were chosen from each branch of the bank(general manager, deputy general manager, director Branch, department head, department manager). (164) questionnaires have been used Recovered with a recovery rate of (93.71%). The study showed a number of results, the most important of which is the availability of dimensions of strategic innovation at a high level in Islamic banks in Palestine with a relative weight of (82.22%). In addition, that there are no differences between the averages estimates about the reality of the study variables in Islamic banks due to (gender, age group, educational qualification, number of years of service, job title). The study also presented a set of recommendations, including that the bank should provide the environment and the appropriate climate for employees to invest their intellectual energy, urge them to strategic creativity, and deal fairly with all creative ideas regardless of their source. (shrink)

There is a widely acknowledged shortage of and an increasing demand for transplantable human organs and tissues (e.g., kidney, heart, lung, liver, cornea) in developed and developing countries around the world. In response to this need, Lott and Savulescu (2007) propose the creation of a human embryonic stem (hESC) bank to facilitate the equitable and efficient dissemination of human leukocyte anti- gen (HLA) matched tissues and organs to patients in need of replacement. Although not an unreasonable proposal, the authors (...) go on to make a much stronger claim. They argue that hESCs are such important tools for addressing the massive unmet global need for organs that it is ethically justified to require mandatory banking of spare embryos, and they argue for the use of financial (or other) inducements to procure embryos for the derivation of hESCs. (shrink)

The Spokesman of Deutsche Bank's Board of Managing Directors delivered The Gilbart Lecture on Banking last year under the auspices of King's College London at an occasion sponsored by the National Westminster Bank plc and organised by the Chartered Institute of Bankers. The text of Herr Kopper's lecture is reproduced here with permission.

The Spokesman of Deutsche Bank's Board of Managing Directors delivered The Gilbart Lecture on Banking last year under the auspices of King's College London at an occasion sponsored by the National Westminster Bank plc and organised by the Chartered Institute of Bankers. The text of Herr Kopper's lecture is reproduced here with permission.

An interlocking-directorates monitoring system The subject of the study was interlocking directorates in Polish joint stock companies. In order to explore this area a monitoring system has been developed which consists of a database and query system. Data is automatically introduced from printed announcements into the MySQL database using PHP scripts.The phenomenon of interlocking directorates in Polish joint stock companies is comparable with other countries. Board members in Poland are significantly younger than, for example, in the USA. Women constitute an (...) important group of board members. Insurance companies and investment funds are closely connected with other companies, but banks are not.The monitoring system developed enables us to identify who is, and who was, a board member of every joint stock company. It also enables us to identify, for every person, which board he or she now serves on, and has served on, in the past. The system also enables us to produce different reports concerning, for example, changes in certain indexes in subsequent years. The system is also accessible via the Internet. (shrink)

This study aims to explore whether a discrepancy exists between the ideal and communicated (disclosed) ethical identity of Islamic banks in Asia and, further, whether there is any association of communicated ethical identity with financial performance. To achieve the objectives, the study analyses data derived from annual reports of Islamic banks in Asia for the period 2006–2010. The results suggest that out of the seven banks studied, three of them are above average and the rest suffer from disparity between the (...) ideal and communicated ethical identities. Further, the study shows that the disclosure of a vision and mission statement; board of directors and top management; zakah, charity, and benevolent loans; and Shari’ah supervisory boards are negatively associated with performance, while the disclosure of products and services and commitment toward employees are positively associated with performance. (shrink)

An increasingly unbridgeable gap exists between the supply and demand of transplantable organs. Human embryonic stem cell technology could solve the organ shortage problem by restoring diseased or damaged tissue across a range of common conditions. However, such technology faces several largely ignored immunological challenges in delivering cell lines to large populations. We address some of these challenges and argue in favor of encouraging contribution or intentional creation of embryos from which widely immunocompatible stem cell lines could be derived. (...) Further, we argue that current immunological constraints in tissue transplantation demand the creation of a global stem cell bank, which may hold particular promise for minority populations and other sub-groups currently marginalized from organ procurement and allocation systems. Finally, we conclude by offering a number of practical and ethically oriented recommendations for constructing a human embryonic stem cell bank that we hope will help solve the ongoing organ shortage problem. (shrink)

There is a growing global interest in social responsibility and sustainability across all sectors. Other than economic performance, stakeholders are now also concerned about the social and environmental impacts of corporations. Additionally, stakeholders are obtaining a higher salience level and expect organisations to operate sustainably. The banking sector has not been an exception, as banks can have significant impact on their customers, employees, and society in various ways. Given the intertwined links of Islam and ethical principles, it is expected that (...) Islamic banks will show a high level of commitment towards social responsibility (SR) and ethical practices. The current study investigates this issue by examining the annual reports of three fully-fledged Islamic commercial banks in Indonesia over the period of 2007 to 2011. It was found that only two of the investigated banks had continuous improvement in their SR disclosure. Additionally, it was revealed that the highest disclosures have been for ‘corporate vision’ and ‘board of directors and top management’, while the lowest disclosures were evident for ‘environment’ and ‘product, services and fair dealing with supply chain’. (shrink)

The Human Tissue Act 2004 in the United Kingdom clearly represents not a principled approach but instead a compromise, a pragmatic approach which balances several different ethical considerations against each other. In regards to the use of tissue in research it has left much of the more difficult decisions to be made by research ethics committees on a case by case basis. In particular it is now the role of research ethics committees to decide whether research can be (...) carried out using human tissue where no consent was given for the use of this tissue in research. Likewise research ethics committees are now charged with approving of human tissue banks which then need no further ethical approval to carry out research solely using tissue from that bank. There has however been little guidance in regards to the decisions these committees must make. This paper aims to delineate these decisions and offer some philosophical guidance to research ethics committees in making these decisions. (shrink)

After a crisis, broad and sweeping reforms are enacted to restore trust. Following the 2007-2008 Great Financial Crisis, the European Union has engaged in an ambitious overhaul of banking regulation. One of its centerpieces, the 2013 Fourth Capital Requirements Directive, tackles, amongst other things, the perceived pre-crisis failings in the governance of banks. We focus on the provisions that are aimed at reshaping bank boards’ composition, functioning, and their members’ liabilities, and argue that they are unlikely to improve (...) class='Hi'>bank boards’ effectiveness or prevent excessive risk-taking. We criticize some of them for mandating solutions, like board diversity and the separation of chairman and CEO, that may be good for some banks but are bad for others, in the absence of any convincing argument that their overall effect is positive. We also criticize enhanced board liability by showing that it may increase the risk of herd behavior and lead to more serious harm in the event of managerial mistakes. We also highlight that the push towards unfriendly boards will negatively affect board dynamics and make boards as dysfunctional as when the CEO dominates them. We further argue that limits on directorships and diversity requirements will worsen the shortage of bank directors, while requirements for induction and training and board evaluation exercises will more likely lead to tick-the-box exercises than under the current situation in which they are just best practices. We conclude that European policymakers and supervisors should avoid using a heavy hand, respectively, when issuing rules implementing CRD IV provisions with regard to bank boards and when enforcing them. (shrink)

Banks have an important social responsibility to serve the real economy and to maintain financial stability, and they also need to be responsible to borrowers and others. Against the backdrop of the COVID-19 pandemic affecting the global economy and increasing financial risks, it is particularly important for banks to assume social responsibilities. This study theoretically analyzed the outstanding applicability of stakeholder governance theory. Using a two-stage game method, the optimal pressure intensity of the social responsibility stakeholders was calculated, and the (...) dynamic performance of shareholders was deduced. We found that the establishment of the social responsibility stakeholder governance mechanism will prompt the bank to fulfill its social responsibilities; rational social responsibility stakeholders will not lead to poor bank management due to excessive behavior; and shareholders with social responsibility can self-consciously choose the investment projects with lower negative externalities. The conclusions can be summarized as follows: The participation of stakeholder and the establishment of the social responsibility function of the board of directors can help promote a bank's social responsibility performance. This work studied the social responsibility of banks from the new perspective of stakeholder governance, expands the theoretical boundaries, and puts forward relevant suggestions to enhance the application value of this research. (shrink)

An increasingly unbridgeable gap exists between the supply and demand of transplantable organs. Human embryonic stem cell technology could solve the organ shortage problem by restoring diseased or damaged tissue across a range of common conditions. However, such technology faces several largely ignored immunological challenges in delivering cell lines to large populations. We address some of these challenges and argue in favor of encouraging contribution or intentional creation of embryos from which widely immunocompatible stem cell lines could be derived. (...) Further, we argue that current immunological constraints in tissue transplantation demand the creation of a global stem cell bank, which may hold particular promise for minority populations and other sub-groups currently marginalized from organ procurement and allocation systems. Finally, we conclude by offering a number of practical and ethically oriented recommendations for constructing a human embryonic stem cell bank that we hope will help solve the ongoing organ shortage problem. (shrink)

Given that women CEOs are usually more risk averse, engage less in opportunistic behavior, and provide higher quality earnings than men CEOs, we argue that firms with women CEOs are likely to face lower operational and information risk and thus enjoy cheaper external funds. Using a large sample of Chinese A-share listed firms operating from 2006 to 2012, we find consistent evidence that Chinese banks tend to impose lower loan costs on firms with women CEOs compared to firms with men (...) CEOs. This effect is more pronounced for non-state-owned enterprises than for state-owned enterprises, for firms without political connections than for firms with political connections, and during non-crisis periods. We do not find any significant effects for firms with women chairpersons, CFOs, or directors. (shrink)

There is a distinct lack of research into the relationship between corporate governance and corporate social responsibility (CSR) in the banking sector. This paper fills the gap in the literature by examining the impact of corporate governance, with particular reference to the role of board of directors, on the quality of CSR disclosure in US listed banks’ annual reports after the US sub-prime mortgage crisis. Using a sample of large US commercial banks for the period 2009–2011 and controlling for audit (...) committee characteristics, board meeting frequency, and banks’ profitability, size and risk, we find evidence that board independence and board size, the two board characteristics usually associated with the protection of shareholder interests, are positively related to CSR disclosure. This indicates that, with regard to CSR disclosure, more independent boards of directors and larger boards are the internal corporate governance mechanisms which promote both shareholders’ and other stakeholders’ interests. Contrary to our expectations, CEO duality also impacts positively on CSR disclosure. From an agency-theoretical viewpoint, this suggests that powerful CEOs may promote transparency about banks’ CSR activities for their private benefits. While this could indicate that powerful CEOs are under particular pressure to appease stakeholders’ concerns that they might abuse their power by providing a high degree of CSR disclosure, it could also be a sign of managerial risk aversion or managers’ private reputational concerns. (shrink)

This study utilises higher objectives postulated in Islamic moral economy or themaqasid al-Shari’ahtheoretical framework’s novel approach in evaluating the ethical, social, environmental and financial performance of Islamic banks.Maqasid al-Shari’ahis interpreted as achieving social good as a consequence in addition to well-being and, hence, it goes beyond traditional (voluntary) social responsibility. This study also explores the major determinants that affectmaqasidperformance as expressed through disclosure analysis. By expanding the traditionalmaqasid al-Shari’ah,, we develop a comprehensive evaluation framework in the form of amaqasidindex, which (...) is subjected to a rigorous disclosure analysis. Furthermore, in identifying the main determinants of themaqasiddisclosure performance, panel data analysis is used by including several key variables alongside political and socio-economic environment, ownership structures, and corporate andShari’ahgovernance-related factors. The sample includes 33 full-fledged Islamic banks from 12 countries for the period of 2008–2016. The findings show that although during the nine-year period the disclosure ofmaqasidperformance of the sampled Islamic banks has improved, this is still short of ‘best practices’. Through panel data analysis, this study finds that the Muslim population indicator, CEO duality,Shari’ahgovernance, and leverage variables positively impact the disclosure ofmaqasidperformance. However, the effect of GDP, financial development and human development index of the country, its political and civil rights, institutional ownership, and a higher share of independent directors have an overall negative impact on themaqasidperformance. The findings reported in this study identify complex and multi-faceted relations between external market realities, corporate andShari’ahgovernance mechanisms, andmaqasidperformance. (shrink)

BackgroundUmbilical cord banks are a central component, as umbilical cord tissue providers, in both medical treatment and scientific research with stem cells. But, whereas the creation of umbilical cord banks is seen as successful practice, it is perceived as a risky style of play by others. This article examines and discusses the ethical, medical and legal considerations that arise from the operation of umbilical cord banks in Mexico.DiscussionA number of experts have stated that the use of umbilical cord goes (...) beyond the mere utilization of human tissues for the purpose of treatment. This tissue is also used in research studies: genetic studies, studies to evaluate the effectiveness of new antibiotics, studies to identify new proteins, etc. Meanwhile, others claim that the law and other norms for the functioning of cord banks are not consistent and are poorly defined. Some of these critics point out that the confidentiality of donor information is handled differently in different places. The fact that private cord banks offer their services as "biological insurance" in order to obtain informed consent by promising the parents that the tissue that will be stored insures the health of their child in the future raises the issue of whether the consent is freely given or given under coercion. Another consideration that must be made in relation to privately owned cord banks has to do with the ownership of the stored umbilical cord.SummaryConflicts between moral principles and economic interests (non-moral principles) cause dilemmas in the clinical practice of umbilical cord blood storage and use especially in privately owned banks. This article presents a reflection and some of the guidelines that must be followed by umbilical cord banks in order to deal with these conflicts. This reflection is based on the fundamental notions of ethics and public health and seeks to be a contribution towards the improvement of umbilical cord banks' performance. (shrink)

Although the term commodification is sometimes criticised as imprecise or overused, in fact it has a complex philosophical ancestry and can never be used too much, because the phenomena that it describes are still gaining ground. The issues that commodification raises in relation to reproductive technologies include whether it is wrong to commodify human tissues generally and gametes particularly, and whether the person as subject and the person as object can be distinguished in modern biomedicine. This chapter examines three areas (...) in which commodification is a serious concern for important reproductive technologies: the sale of eggs for IVF and research, the banking of umbilical cord blood, and the use of gestational surrogates both domestically and internationally. Sales of human eggs for IVF or research are frequently disguised as “gifts”, which conceals the very real bodily risks and harms associated with ovarian hyperstimulation and egg harvesting undergone by egg “donors.” Umbilical cord banking is a fast-growing industry, with donated cord blood trading globally at very high prices; women who consent to banking of cord blood ostensibly for the potential future benefit of their child may not be informed of the likelihood that it will be traded in commercial markets or that the method used for harvesting may increase risks of jaundice in their babies. Commercial surrogacy also exploits altruism but in addition involves wrongful sale of babies, particularly in the international context. In each example, the commodification of women’s reproductive labour is masked by the manner in which ‘the lady vanishes’ under a gift model, ignoring the true economic value of their labour. (shrink)

The Organization Department of the Communist Party of China announced the Opinions on Further Regulation on Party and Political Leaders and Cadres Working Part-Time in Enterprises to force the resignation of government officials holding the position of independent director in listed companies. This paper empirically examines the impact of the GID resignation on firm performance using a difference-in-differences model, which is an exogenous event with a “natural experiment.” The study finds that after the promulgation of the Opinions, firms that (...) lose some of their political resources and their corporate performance decreases significantly compared to firms that do not experience GID resignations. A good external governance environment, while somewhat weakening, is not sufficient to offset the negative impact of the loss of political resources on firm performance. This paper further explores the mechanism by which the GID resignation affects firm performance: one important way in which the resignation of GIDs cause the loss of political resources on which the firm's development depends is that the loss of the firm's tax benefits after GID resignation directly leads to a decline in performance; it also leads to a reduction in the firm's financial subsidy income and a reduction in the amount of bank loans, but both of these do not have a significant effect on the decline in firm performance. The study suggests that GIDs play more of a resource-providing “official” role than an “independent director's” supervisory and advisory role in Chinese listed companies. The findings of this paper reveal the phenomenon of “Political-Business Spin” in China, which has some implications for developing countries, represented by China, to improve the independence of the board of directors and the corporate governance. (shrink)

This paper explores the perspectives of women who have agreed that their umbilical cord blood may be collected for a public ‘cord blood bank’, for use in transplant medicine or research. Drawing on interview data from 27 mothers who agreed to the collection and use of their umbilical cord blood, these choices and the informed consent process are explored. It is shown that the needs of sick children requiring transplants are prominent in narrative accounts of cord blood banking, together (...) with high expectations for future applications of stem cells. Given this dynamic, a concern arises that the complex and multiple uses of tissues and related data might be oversimplified in the consent process. In conclusion, the positive finding of a commitment to mutuality in cord blood banking among these women is underlined, and its implications for the wider debate on cord blood banking are discussed. (shrink)

The purpose of this research is to explore corporate governance and CEO remuneration with banks capitalization strategies and payout policy within the Pakistani banking context. Data were obtained from the financial statements of scheduled banks listed on the Pakistan stock exchange from 2005 to 2020. The findings of the research study revealed that corporate governance mechanisms that promote the bank's shareholders' interests are linked to low capitalization strategies. The size of the board of directors has a significant impact on (...) the capitalization of banks. Banks' capitalization techniques are also adversely correlated with effective board size. The shareholder benefits from low capitalization. Corporate governance is positively related with banking sector instability, as seen by this negative correlation. Bank capitalization strategies have a significant impact on CEO remuneration. In the event of an income shock, dividend payout is essential. Banking sector payout policies are negatively related with corporate governance. In the event of a negative income shock, financial institutions reduce dividends. As a result, it has been argued that effective corporate governance benefits shareholders by reducing capitalization tactics and limiting financial institutions' aggressive payouts.JEL classificationG21, G30, G32, G35. (shrink)

This essay will address the ethical issues that have emerged in the first considerations of the newly emerging stem cell technology. Many of us in the field of bioethics were deliberating related issues as we first learned of the new science and confronted the ethical issues it raised. In this essay, I will draw on the work of colleagues who were asked to reflect on early stages of the research as the field debated the issues of consent, moral status, use (...) of animal tissues, abortion, use of fetal tissue, and the nature and goals of entrepreneurial research. In this new capacity, ethicists weighed the problem of privacy, the role of justice considerations, and the issues of the marketplace in science. At this point, it is clear that far more issues remain unresolved than are settled, that there is largely unexplored territory ahead, and that the single most important task that faces us as a field is a steady call for ongoing conversation and public debate. (shrink)

This essay will address the ethical issues that have emerged in the first considerations of the newly emerging stem cell technology. Many of us in the field of bioethics were deliberating related issues as we first learned of the new science and confronted the ethical issues it raised. In this essay, I will draw on the work of colleagues who were asked to reflect on early stages of the research (members of the IRBs, the Geron Ethicist Advisory Board, and the (...) National Bioethics Advisory Commission) as the field debated the issues of consent, moral status, use of animal tissues, abortion, use of fetal tissue, and the nature and goals of entrepreneurial research. In this new capacity, ethicists weighed the problem of privacy, the role of justice considerations, and the issues of the marketplace in science. At this point, it is clear that far more issues remain unresolved than are settled, that there is largely unexplored territory ahead, and that the single most important task that faces us as a field is a steady call for ongoing conversation and public debate. (shrink)

Kit Fine’s arguments in Essence and Modality are widely accepted as being a decisive blow against modal essentialism. A selection of replies exist that have done little to counter the general view that modally construed essence is out of touch with what we really mean when we make essentialist claims. I argue that Fine’s arguments fail to strike a decisive blow, and I suggest a new interpretation of the debate that shows why Fine’s arguments fall short of achieving their goal.

In response to the spread of COVID-19, governments across the world have, with very few exceptions, enacted sweeping restrictive lockdown policies that impede citizens’ freedom to move, work, and assemble. This paper critically responds to the central arguments for restrictive lockdown legislation. We build our critique on the following assumption: public policy that enjoys virtually unanimous support worldwide should be justified by uncontroversial moral principles. We argue that that the virtually unanimous support in favor of restrictive lockdowns is not adequately (...) justified by the arguments given in favor of them. Importantly, this is not to say that states ought not impose restrictive lockdown measures, but rather that the extent of the acceptance of these measures is not proportionate to the strength of the arguments for lockdowns. -/- We begin by exploring the case for restrictive lockdowns. We first argue that several of the principles that are used to justify the lockdowns yield unexpectedly revisionary implications for other political problems that many would be unwilling to accept. We then outline what we consider the strongest argument for a lockdown—namely, that its net welfare benefits are great enough to defeat the moral presumption against restricting citizens’ civil liberties to move, work, and assemble. However, we give a number of reasons for doubting that the lockdown’s net welfare benefits are, in fact, sufficiently high to defeat the presumption against it. (shrink)

The third edition of this popular book has been updated to take account of the latest developments in policy and social work practice. It includes new sections on radical/emancipatory and postmodern approaches to ethics, analysis of the latest codes of ethics from over 30 different countries, additional case studies of ethical problems and dilemmas, practical exercises, and annotated further reading lists at the end of each chapter.

The book revives the neutral monism of Mach, James, and Russell and applies the updated view to the problem of redefining physicalism, explaining the origins of sensation, and the problem of deriving extended physical objects and systems from an ontology of events.

A consideration of Mach's elements, his philosophy of neutral monism, and philosophy of physics, especially space and time, much of it based on unpublished writings from the Nachlass and other original sources. The historical connection between Mach and logical positivism is shown to be superficial at best, and Mach's elements are shown to be mind independent natural qualities (world-elements) with dynamic force, not limited to human sensations.

Neutral monism is a position in metaphysics defended by Mach, James, and Russell in the early twentieth century. It holds that minds and physical objects are essentially two different orderings of the same underlying neutral elements of nature. This paper sets out some of the central concepts, theses and the historical background of ideas that inform this doctrine of elements. The discussion begins with the classic neutral monism of Mach, James, and Russell in the first part of the paper, then (...) considers recent neo-Russellian versions in the second half. The chances for a revival of neutral monism are probably slight; its key ideas and starting points lie far from those in contemporary philosophy of mind. A better route might be through the philosophy of science and a deeper understanding of causation. (shrink)