Some argue that managers over-invest in corporate social responsibility (CSR) activities to build their personal reputations as good global citizens. Others claim that CEOs strategically choose CSR activities to reduce the probability of CEO turnover in a future period through indirect support from activists. Still others assert that firms use CSR activities to signal their product quality. We find that firms use governance mechanisms, along with CSR engagement, to reduce conflicts of interest between managers and non-investing stakeholders. Employing a large (...) and extensive sample of firms within Russell 2000, S& 500 and Domini 400 indices during the 1993-2004 period, we find that consistent with the conflict-resolution hypothesis, the CSR choice is positively associated with governance characteristics, including board independence, institutional ownership, and analyst following. In addition, after correcting for endogeneity of CSR engagement, our results show that CSR engagement positively influences operating performance and firm value, supporting the conflict-resolution hypothesis as opposed to the over-investment and strategic-choice arguments. We find only a weak support of the product-signaling hypothesis as a major motive of CSR engagement. (shrink)

In _Politics with Beauvoir_ Lori Jo Marso treats Simone de Beauvoir's feminist theory and practice as part of her political theory, arguing that freedom is Beauvoir's central concern and that this is best apprehended through Marso's notion of the encounter. Starting with Beauvoir's political encounters with several of her key contemporaries including Hannah Arendt, Robert Brasillach, Richard Wright, Frantz Fanon, and Violette Leduc, Marso also moves beyond historical context to stage encounters between Beauvoir and others such as Chantal Akerman, Lars (...) von Trier, Rahel Varnhagen, Alison Bechdel, the Marquis de Sade, and Margarethe von Trotta. From intimate to historical, always affective though often fraught and divisive, Beauvoir's encounters, Marso shows, exemplify freedom as a shared, relational, collective practice. _Politics with Beauvoir_ gives us a new Beauvoir and a new way of thinking about politics—as embodied and coalitional. (shrink)

This study examines how the sell-side analysts interpret firms’ corporate social responsibility activities. Specifically, we examine the differential impact of overall, legal, and normative CSR on the analysts’ earnings forecast dispersion, stock return volatility, cost of equity capital, and firm value. Employing a sample of U.S. public firms during 1993–2009, we find that overall CSR intensities reduce analyst dispersion of earnings forecast, volatility of stock return and cost of capital , and increase firm value. However, its impact is reduced for (...) firms with better accounting and disclosure quality. When we disaggregate CSR into legal and normative CSR, we find that legal CSR decreases analysts’ dispersion, stock return volatility, and COC, while legal CSR increases firm value. The sell-side analysts tend to have less information asymmetry regarding the net benefits of pursuing CSR that is required by laws. We find, however, that the benefit of having normative CSR realized in 1 year lag such that analyst dispersion, stock return volatility, COC decrease, respectively, and firm value increases. Furthermore, we find that the benefit of normative CSR is offset for firms with higher accounting and disclosure quality. (shrink)

In _Michael Polanyi and His Generation_, Mary Jo Nye investigates the role that Michael Polanyi and several of his contemporaries played in the emergence of the social turn in the philosophy of science. This turn involved seeing science as a socially based enterprise that does not rely on empiricism and reason alone but on social communities, behavioral norms, and personal commitments. Nye argues that the roots of the social turn are to be found in the scientific culture and political events (...) of Europe in the 1930s, when scientific intellectuals struggled to defend the universal status of scientific knowledge and to justify public support for science in an era of economic catastrophe, Stalinism and Fascism, and increased demands for applications of science to industry and social welfare. At the center of this struggle was Polanyi, who Nye contends was one of the first advocates of this new conception of science. Nye reconstructs Polanyi’s scientific and political milieus in Budapest, Berlin, and Manchester from the 1910s to the 1950s and explains how he and other natural scientists and social scientists of his generation—including J. D. Bernal, Ludwik Fleck, Karl Mannheim, and Robert K. Merton—and the next, such as Thomas Kuhn, forged a politically charged philosophy of science, one that newly emphasized the social construction of science. (shrink)

This study examines the relation between corporate social responsibility and institutional investor ownership, and the impact of this relation on stock return volatility. We find that institutional ownership does not strictly increase or decrease in CSR; rather, institutional ownership is a concave function of CSR. This evidence suggests that institutional investors do not see CSR as strictly value-enhancing activities. Institutional investors adjust their percentage of ownership when CSR activities go beyond the perceived optimal level. Employing the path analysis, we also (...) examine the mediating effect of institutional ownership on the relation between CSR and stock return volatility. We find that CSR decreases stock return volatility at a decreasing rate through its effect on institutional ownership. Our results remain robust under several different CSR measures and estimation methods. (shrink)

In this study, we examine the empirical association between corporate social responsibility and information asymmetry by investigating their simultaneous and endogenous effects. Employing an extensive U.S. sample, we find an inverse association between CSR engagement and the proxies of information asymmetry after controlling for various firm characteristics. The results hold using 2SLS considering the reverse side of information asymmetry influencing CSR activities. The results also hold after mitigating endogeneity based on the dynamic panel system generalized method of moment. Furthermore, the (...) CSR–information asymmetry relation is amplified in high-risk firms due to managers’ efforts to build a good reputation. Last, we find that CSR engagement is inversely associated with reputational risk measure and lower predicted value of reputational risk is positively associated with lower information asymmetry measures. We interpret these results as supporting the stakeholder theory-based, reputation-building explanation that considers CSR engagement as a vehicle to build and maintain firm reputation thereby enhancing the information environment. (shrink)

The issue of management’s relations to the environment has received a significant amount of attention in the literature on corporate social responsibility. Yet the influence of religion on managers’ environmental decisions has until now remained unexamined despite its known importance. In this article, we examine the empirical association between religion—primarily Christianity—and the environmental practices a firm’s management undertakes by investigating their OLS, principal component, simultaneous, and endogenous effects. Employing a large and extensive U.S. sample, we find a negative association between (...) the environmental practices initiated by a firm’s managers and the religiosity of the surrounding community, after controlling for various firm and demographic characteristics. In addition, after mitigating endogeneity with the dynamic system generalized method of moment, we still find an inverse association between religiosity and environmental-friendly decisions of management. We interpret these results as providing some support for the “dominion hypothesis” that claims Christian beliefs discourage environmental concern, but not for the “stewardship hypothesis” that implies that Christianity encourages people to “exercise a responsible stewardship over nature.” Nevertheless, additional analysis shows Christian groups differ significantly in how each influences managers’ environmental decisions. (shrink)

Reconstructions of Romantic-era life science in general, and epigenesis in particular, frequently take the Kantian logic of autotelic “self-organization” as their primary reference point. I argue in this essay that the Kantian conceptual rubric hinders our historical and theoretical understanding of epigenesis, Romantic and otherwise. Neither a neutral gloss on epigenesis, nor separable from the epistemological deflation of biological knowledge that has received intensive scrutiny in the history and philosophy of science, Kant’s heuristics of autonomous “self-organization” in the third Critique (...) amount to the strategic capture of epigenesis from nature, for thought, in thought’s critical transcendence of nature. This essay looks to Jean-Baptiste Lamarck and his English contemporary Erasmus Darwin to begin to reconstruct the rigorously materialist, naturalist, and empiricist theories of epigenesis marginalized by Kantian argumentation. As theorists of environmental and social collaboration in the ontogeny of viable forms, Lamarck and Darwin illuminate features of our own epigenetic turn obscured by the rhetoric of “self-organization,” allowing us to glimpse an alternative Romantic genealogy of the biological present. (shrink)

Research ethics guidelines grew out of several infamous episodes where research subjects were exploited. There is significant international synchronization of guidelines. However, indigenous groups in New Zealand, Canada and Australia have criticized these guidelines as being inadequate for research involving indigenous people and have developed guidelines from their own cultural perspectives. Whilst traditional research ethics guidelines place a lot of emphasis on informed consent, these indigenous guidelines put much greater emphasis on interdependence and trust. This article argues that traditional guidelines (...) are premised on relationships of equal power, and that often the researcher has more power that is not fully equalized by providing information. Where there is a relationship of unequal power, then focusing on interdependence and trust is more likely to achieve ethical safety. We illustrate this thesis by describing the detail of a research project looking at the use of interpreters, where we video-recorded live consultations and then interviewed the patient, interpreter and doctor. We conclude by suggesting that mainstream research ethics guidelines should pay more attention to the development of a trustworthy relationship between subject and researcher, and that, following the lead from clinical medicine, we should develop a culturally competent ethical framework for research on human subjects. (shrink)

Without denying the importance of the postmodernist approach to the narrative form and rhetorical strategies of historiography, the author, one of Germany's ...

ABSTRACT:We examine whether religion influences company decisions related to corporate community involvement. Employing a large US sample, we show that the CCI initiatives of a company are positively associated with the level of Christian religiosity present in the region within which that company’s headquarters is located. This association persists even after we control for a wide range of firm characteristics and after we subject our results to several econometric tests. These results support our religious morality hypothesis which holds that companies (...) headquartered in regions with higher levels of Christian religiosity will engage in more CCI initiatives. We also find that while Catholic and mainline Protestant religiosity have a positive influence on firms’ CCI initiatives, evangelical Protestant religiosity does not. This supports our differentiated responses hypothesis which holds that institutional differences among religious groups will produce different effects on companies’ CCI. This hypothesis is based on institutional theory. (shrink)

Since the introduction and widespread adoption of chemical herbicides, “weed management” has become almost synonymous with “herbicide management.” Over-reliance on herbicides and herbicide-resistant crops has given rise to herbicide resistant weeds. Integrated weed management (IWM) identifies three strategies for weed management— biological-cultural, chemical-technological, mechanical-physical—and recommends combining all three to mitigate herbicide resistance. However, adoption of IWM has stalled, and research to understand the adoption of IWM practices has focused on single stakeholder groups, especially farmers. In contrast, decisions about weed management (...) often occur within a social ecosystem where multiple stakeholder groups co-create knowledge and practices. To more holistically investigate perceptions and decision-making related to herbicide resistant weed management, we conducted 23 in-depth interviews in combination with Q methodology with farmers and public-/private-sector agricultural professionals in the state of Georgia (U.S.). Our investigation focused on the management of an increasingly herbicide resistant weed, Palmer amaranth, which enabled broader conversations about agricultural systems, farmer livelihoods, and sustainability. Factor and thematic analyses allowed us to identify and characterize two distinct typologies: one primarily valued agronomic efficiency and relied upon chemical-technological management practices, while the other valued diversifying weed management strategies as the pathway to agronomic and economic success. Typologies diverged substantially in attitudes toward the three weed management strategies, the role of technology, and systems management generally. These two viewpoints have implications for how we understand underlying stakeholder motivations and choices around weed management strategies, both of which are crucial in promoting and supporting farmer use of diverse, ecologically-sound, weed management strategies. (shrink)

The World Bank recently noted: “Social license to operate has traditionally referred to the conduct of firms with regard to the impact on local communities and the environment, but the definition has expanded in recent years to include issues related to worker and human rights”. In this paper, we examine a factor that can influence the kind of work conditions that can facilitate or obstruct a firm’s attempts to achieve the social license to operate. Specifically, we examine the empirical association (...) between a company’s employee practices and the religiosity of its local community by investigating their fixed and endogenous effects. Using a large and extensive U.S. sample, we find a positive association between the “employee friendly” practices of a firm and the religiosity of the local community after controlling for several firm characteristics. In addition, after mitigating endogeneity with the dynamic panel system generalized method of moment and after employing several other econometric tests, we still find a robust positive association between the religiosity of the local community and employee-friendly practices. Since recent research has shown that the firm’s treatment of its stakeholders is a key to achieving an SLO, and since employees constitute a highly significant stakeholder group, we interpret our results as supporting the view that religion is an important influence on the kinds of employee practices that can increase the likelihood that a firm will acquire the SLO. (shrink)

Abstract:There is a storied history of Native and Indigenous feminisms on Turtle Island (North America). We are fortunate that many of those stories birthed from an ancestral tradition of storytelling and survivance were captured in the canonical feminist anthology This Bridge Called My Back: Writings of Radical Women of Color. In celebration and commemoration of 40 years since This Bridge was first published we visit with three of the books original Native and Indigenous contributors–Chrystos, Max Wolf Valerio, and Jo Carrillo–to (...) recount old as well as new stories as they explore what Native and Indigenous feminisms mean to them and their continued work for Indigenous visibility. The conversation provides a unique intergenerational vision for conceptualizing contemporary Native and Indigenous feminisms all the while building upon the legacy and path set forth by amazing Native and Indigenous women trailblazers. (shrink)

In this article, we propose that giving in cash and non-cash differ in their relation with the giving firm’s future corporate financial performance and only cash giving is associated with future CFP. Using a novel dataset from ASSET4 that differentiates corporate giving over a sample period of 2002–2012, we examine three competing hypotheses: agency cost hypothesis that cash giving reflects agency cost and destroys value for shareholders, investment hypothesis that cash giving is an investment by management that aims for better (...) future return, and information hypothesis that cash giving has informational value to shareholders as cash is a critical resource at a firm and giving is a decision by managers who are insiders. We find that indeed, only cash giving is positively associated with future CFP and firm value, measured by Fama–French five-factor abnormal risk-adjusted stock returns, future return on assets, and Tobin’s Q. In addition, we find that the positive association exists only between excess, i.e., unexpected, but not expected cash giving and future CFP. Our empirical findings support the information hypothesis, but neither the agency hypothesis nor the investment hypothesis, and are robust to a number of endogeneity tests, including orthogonalized cash giving, instrumental variable regression using geography-based instruments, and propensity score matching. Furthermore, we show that the positive association between future CFP and unexpected cash giving is only pronounced at firms with good governance and relatively higher sales growth where agency problems are less likely, and at firms with no alternative mechanisms to demonstrate the strength of cash flow. Additionally, we do not find evidence that suggests in-kind giving to possess any informational value. (shrink)

In this volume, Peter Burke, a prominent "Western" historian, offers ten hypotheses that attempt to constitute specifically "Western Historical Thinking".

Introduction/Background: Moral distress and related concepts surrounding morality and ethical decision-making have been given much attention in nursing. Despite the general consensus that moral distress is an affective response to being unable to act morally, the literature attests to the need for increased clarity regarding theoretical and conceptual constructs used to describe precisely what the experience of moral distress involves. The purpose of this study is to understand how student nurses experience morally distressing situations when caring for patients with different (...) values and beliefs than their own in the clinical environment -/- Methods: This study is based on secondary analysis of participant data. The stories of eight student nurses who completed the original study were reviewed following Yin’s multiple-case study design. -/- Results: Findings suggest there is a subtle form of moral distress that has been under appreciated in the literature and differs from Jameton’s classic definition. While traditional institutional triggers to moral distress are pervasive, personal conflict as a result of differing value systems may be a moral challenge faced by nursing students working with culturally diverse patients. -/- Conclusion: Ethics education is needed in nursing school to reduce moral distress in the clinical environment. Nursing students need opportunities to develop moral reasoning skills in addition to their clinical skills. A philosophical approach to ethics education may be needed to prevent and alleviate moral distress. (shrink)

Cet article sur l’état de la recherche sur le genre et la (les) sexualité(s) dans les études sur les années 68 fait suite à une année de colloques et de rétrospectives médiatiques célébrant le quarantième anniversaire, ainsi qu’à une élection présidentielle américaine où les deux candidats, avec chacun leur mode d’autorité charismatique genrée – l’un héros militaire du Vietnam, l’autre jeune homme dynamique proposant « un nouveau Camelot » –, se sont implicitement situés par rapport à la rupt...

This study examines the influence of Christian religion on corporate decisions related to human rights in the United States. Specifically, it examines the empirical association between a company's human rights practices and the Christian religiosity in its local community, as well as individual CEO religiosity in the United States, both of which have not been tested in prior studies. Employing a large sample from the United States, we find a congruent association between the “human rights friendly” practices of a company (...) and the Christian religiosity of the local community. This novel finding is robust to a diverse set of tests. In addition, we find that the association between Christian religiosity in the United States and human rights is more significant in reducing human rights concerns, than it improves human rights strengths. This study interprets these results as upholding the religious morality hypothesis, namely, that companies located in areas with higher religiosity are likely to engage in more human rights-friendly practices, and the United States. Christians consider religion as an influencing factor that encourages managers to embrace human rights. Furthermore, this study finds that individual religious managers tend toward more human rights-friendly practices, supporting our religious manager hypothesis. (shrink)

This series aims at bridging the gap between historical theory and the study of historical memory as well as western and non-western concepts, for which this ...

In order to develop a model of equitable and sustainable distribution, this paper advocates integrating the ecological space paradigm and the capabilities approach. As the currency of distribution, this account proposes a hybrid of capabilities and ecological space. Although the goal of distributive justice should be to secure and promote people’s capabilities now and in the future, doing so requires acknowledging that these capabilities are dependent on the biophysical preconditions as well as inculcating the ethos of restraint. Both issues have (...) been highlighted from the perspective of the ecological space paradigm. Concerning the scope of distributive justice, the integration can combine the advantages of the ecological space paradigm regarding the allocation of the responsibilities involved in environmental sustainability with the strength of the capabilities approach regarding people’s entitlements. The pattern of distribution starts from a capability threshold. In order to achieve this threshold, ecological space should be provided sufficiently, and the remaining ecological space budget could then be distributed according to the equal per capita principle. (shrink)

SummaryThe convening of the first three Solvay Chemistry Conferences in Brussels from 1922–1928 marked an important turning point for the discipline of chemistry. Whereas much of nineteenth-century chemical endeavour had focused on compositional and functional analysis of chemical compounds, many leaders in chemistry were turning to questions of molecular dynamics by the early twentieth century. Two competing schools of chemical dynamics, which were represented at the Solvay Conferences, were a predominantly English group (Lowry, Lapworth, Robinson, Ingold) who worked out electron (...) and ionic interpretations of organic reaction mechanisms, and a French group (Perrin, Job) who developed a generalized radiation hypothesis of reaction activation. While differences in conceptual and stylistic approach separated the two schools, they agreed on the need to apply contemporary physical theory to old chemical problems, and to develop a theoretical chemistry complementary to theoretical physics. (shrink)

This paper examines human planning abilities, using as its inspiration planning techniques developed in artificial intelligence. AI research has shown that in certain problems partial‐order planners, which manipulate partial plans while not committing to a particular ordering of those partial plans, are more efficient than total‐order planners, which represent all partial plans as totally ordered. This research asks whether total‐order planning and/or partial‐order planning are accurate descriptions of human planning, and if different populations use different planning techniques. Using a simple (...) planning task modeled after tasks designed in artificial intelligence we tested 7–8 year‐old children, 11–13 year‐old children, adult controls, and adults with damage to the prefrontal cortex. We found that adults and older children exhibited performance on planning tasks of varying complexity which matched that of artificial partial‐order planners, and that this pattern of performance did not vary with multiple presentations of the planning task. In contrast, young children and adults with damage to the prefrontal cortex exhibited performance matching that of artificial total‐order planners. This pattern of performance did vary, however, with multiple presentations of the planning task, with the young children and adults with cortical damage displaying aspects of total‐order planning. In a further study we found that adolescents who had sustained damage to the prefrontal cortex as children displayed two different patterns of performance; when measures of reaction time were analyzed they revealed a pattern of performance suggestive of partial‐order plan representations. However, analyses of the adolescents' protocols revealed a pattern of performance suggestive of total‐order plan representations. The significance of these results to psychology, neuroscience, and artificial intelligence are discussed. (shrink)

As third wave feminist philosophers attending graduate schools in different parts of the country, we decided to use our e-mail discussion as the format for presenting our thinking on the subject of third wave feminism. Our dialogue takes us through the subjects of postmodernism, the relationship between theory and practice, the generation gap, and the power relations associated with feminist philosophy as an established part of the academy.