This article extends earlier research concerning the relationship between corporate social performance and corporate financial performance, with particular emphasis on methodological inconsistencies. Research in this area is extended in three critical areas. First, it focuses on a particular industry, the chemical industry. Second, it uses multiple sources of data-two that are perceptual based (KLD Index and Fortune reputation survey), and two that are performance based (TRI database and corporate philanthropy) in order to triangulate toward assessing corporate social performance. Third, it (...) uses the five most commonly applied accounting measures in the corporate social performance and corporate financial performance (CSP/CFP) literature to assess corporate financial performance. The results indicate that the a priori use of measures may actually predetermine the CSP/CFP relationship outcome. Surprisingly, Fortune and KLD indices very closely track one another, whereas TRI and corporate philanthropy differentiate between high and low social performers and do not correlate to the firm's financial performance. (shrink)

This panel considered the uses of and prospects for the stakeholder theory/approach. After 20 years of popularity, the stakeholder concept has still notemerged as a true theory. However, it offers some unique perspectives on business organizations and there is plenty of room to develop stakeholder theory and research. These session notes are offered to further the scholarly discussion.

The study of reputation has often focused on the creation of good reputations rather than on the varied means by which reputations are modified, or shifted, and the factors affecting such shifts. This paper develops a theory of reputation shifting and identifies five basic reputational actions, the types of strategic responses that can be taken to manage reputations.

This article extends earlier research concerning the relationship between corporate social performance and corporate financial performance, with particular emphasis on methodological inconsistencies. Research in this area is extended in three critical areas. First, it focuses on a particular industry, the chemical industry. Second, it uses multiple sources of data-two that are perceptual based (KLD Index and Fortune reputation survey), and two that are performance based (TRI database and corporate philanthropy) in order to triangulate toward assessing corporate social performance. Third, it (...) uses the five most commonly applied accounting measures in the corporate social performance and corporate financial performance (CSP/CFP) literature to assess corporate financial performance. The results indicate that the a priori use of measures may actually predetermine the CSP/CFP relationship outcome. Surprisingly, Fortune and KLD indices very closely track one another, whereas TRI and corporate philanthropy differentiate between high and low social performers and do not correlate to the firm's financial performance. (shrink)

This article extends earlier research concerning the relationship between corporate social performance and corporate financial performance, with particular emphasis on methodological inconsistencies. Research in this area is extended in three critical areas. First, it focuses on a particular industry, the chemical industry. Second, it uses multiple sources of data-two that are perceptual based (KLD Index and Fortune reputation survey), and two that are performance based (TRI database and corporate philanthropy) in order to triangulate toward assessing corporate social performance. Third, it (...) uses the five most commonly applied accounting measures in the corporate social performance and corporate financial performance (CSP/CFP) literature to assess corporate financial performance. The results indicate that the a priori use of measures may actually predetermine the CSP/CFP relationship outcome. Surprisingly, Fortune and KLD indices very closely track one another, whereas TRI and corporate philanthropy differentiate between high and low social performers and do not correlate to the firm's financial performance. (shrink)

A normative criterion identifying the conditions for a desirable corporate reputation, “reputational optimality,” or “reputational bliss,” is described, and a case developed for its utility and reasonableness as a criterion to apply to real world phenomena. The paper discusses some behavioral patterns under alternative moral positions taken by observers and the firm, critiques some alternative moral principles, and considers some dynamics of moving toward, defending and maintaining, and breaching or breaking reputational bliss.

This paper develops a two-part model of the crucial roles that episodic memory and perceptual filters play in responses to organizational crisis. We examine thecascading impacts of episodic memory, the types of filters that shape stakeholder responses to crisis, and subsequent impacts on reputation. A sound wave analogy is developed to understand the complexity of organizational crisis. The model is partially applied to the BP Deepwater Horizon oil rig disaster.

Over time, how does a company's corporate social performance (CSP) as reflected through different stakeholders' views of the company (corporate reputation or CR) vary between a financial stakeholder group and a customer stakeholder group? The purpose of this research is to extend our previous work in the area of CSP profiling. So far, we have only applied the method to two companies in each of three industries for one year. This paper will focus on extending the application to the five (...) to eight companies in each of nine leading industries across a three year time span. The results will provide a much deeper data base leading to more rigorous measurement and analysis of CSP. (shrink)

Economic growth requires a focus on building the assets of the poor, a strategic approach that is considerably broader than developing the poor only asconsumers and workers. The long-term sustainability of business and society will be enhanced if corporate investments that impact on poverty alleviation are far reaching, multi-faceted, and built through multi-sector partnerships. Emerging evidence indicates that corporations are increasingly involved on two important fronts: directly investing in ways that reduce poverty, and advocating for public policy investments to build (...) the assets of the poor. Corporate involvement in asset policy can be understood as a new manifestation of corporate/business citizenship. (shrink)

This panel considered the uses of and prospects for the stakeholder theory/approach. After 20 years of popularity, the stakeholder concept has still notemerged as a true theory. However, it offers some unique perspectives on business organizations and there is plenty of room to develop stakeholder theory and research. These session notes are offered to further the scholarly discussion.

Despite thermodynamic, bioenergetic and phylogenetic failings, the 81‐year‐old concept of primordial soup remains central to mainstream thinking on the origin of life. But soup is homogeneous in pH and redox potential, and so has no capacity for energy coupling by chemiosmosis. Thermodynamic constraints make chemiosmosis strictly necessary for carbon and energy metabolism in all free‐living chemotrophs, and presumably the first free‐living cells too. Proton gradients form naturally at alkaline hydrothermal vents and are viewed as central to the origin of life. (...) Here we consider how the earliest cells might have harnessed a geochemically created proton‐motive force and then learned to make their own, a transition that was necessary for their escape from the vents. Synthesis of ATP by chemiosmosis today involves generation of an ion gradient by means of vectorial electron transfer from a donor to an acceptor. We argue that the first donor was hydrogen and the first acceptor CO2. (shrink)

While the media and public opinion polls suggest that the state of business ethics is declining, surveys of corporate managers on the subject are less than conclusive. This study presents results of a survey of 487 adult, MBA, and undergraduate business students on the business philosophies of Machiavellianism, Darwinism, Objectivism, Relativism, and Universalism. The findings were consistent with earlier research which showed prospective managers to be less ethical than practicing ones and that women and those reporting a strong religious conviction (...) tend to be more ethical. Explanations and several recommendations for improving the situation are offered.If you saw Atlas... trying to hold the world aloft with the last of his strength, and the greater his effort the heavier the world bore down upon his shoulders — what would you tell him to do? (shrink)

Early attempts at combining multiple inheritance with nonmonotonic reasoning were based on straightforward extensions of tree-structured inheritance systems, and were theoretically unsound. In The Mathcmat~'cs of Inheritance Systcrns, or TMOIS, Touretzky described two problems these systems cannot handle: reasoning in the presence of true but redundant assertions, and coping with ambiguity. TMOIS provided a definition and analysis of a theoretically sound multiple inheritance system, accom-.

Although the notion of physician value neutrality in medicine may be traced back to the writings of Sir William Osler, it is relatively new to medicine and medical ethics. We argue in this paper that how physician value neutrality has been cashed out is often obscure and its defense not persuasive. In addition, we argue that the social/political implementation of neutrality, Political Liberalism, fails, and thus, PVN's case is weakened, for PVN's justification relies largely on the reasoning undergirding PL. For (...) these reasons, we conclude that PVN has no philosophical or ethical warrant and thus should be abandoned. We suggest that the physician present to her patients some type of statement or creed that would give them an idea of where she stands on important axiological issues and how these stands are cashed out clinically. (shrink)

Joachim Schulte’s introduction provides a distinctive and masterful account of the full range of Wittgenstein’s thought. It is concise but not compressed, substantive but not overloaded with developmental or technical detail, informed by the latest scholarship but not pedantic. Beginners will find it accessible and seasoned students of Wittgenstein will appreciate it for the illuminating overview it provides.

Despite the venerable place that "justice" occupies in social scientific theory and research, little effort has been made to see how members of society themselves define and use the concept when confronted with determining "what has happened" in some social arena, theorizing about why it happened, and deciding what should ensue. We take an ethnomethodological approach to justice, attempting to recover it as a feature of practical activity or a "phenomenon of order." Our analysis involves an actual videotaped jury deliberation. (...) In his classic study of decision making by juries, Garfinkel observed that jurors changed their reliance on commonsense reasoning very little, even though they were instructed to adhere to official and legal criteria for guilt. The vacillation between commonsense reasoning and using official criteria creates a tension; in our data this tension is manifested as the choice between adhering to law and procedural rules and providing "justice." By articulating this tension as a puzzle, several of the jurors prepare the way for using "justice," and then use this concept in formal ways which, along with other discursive patterns and strategies, constitute the deliberation as a structured, concerted activity. We show four stages in the use of the term justice as it is embedded in jurors' practical reasoning. (shrink)

Consumer (in)vulnerability is studied via a quasi-ethnographic longitudinal study of adolescents aged 11–15. The study focuses on how adolescents define their vulnerabilities within their adolescent consumption subcultures, the factors enhancing this vulnerability, and the social actors involved in their experience of vulnerability. The findings contribute to consumer vulnerability literature in three ways. First, by adopting an adolescent-centric approach based on an emic perspective, we go beyond the monolithic approach of studying one source of vulnerability at a time seen in present (...) marketing literature. Instead, we introduce a polyadic or multiple simultaneous approaches that can consider risk sources. Second, the findings show that adolescents’ perceptions of consumer vulnerability are anchored within their consumption subcultures. This study introduces the concept that young consumers experience vulnerability in multiple ways, including imposed by adults or by adolescents deliberately engaging in risky behaviors. Third, this research provides ethics policy-makers and scholars with the conceptual framework of adolescent-centric vulnerability, which can help them to develop actions based on both imposed and deliberate sources of vulnerability from the perception of the adolescent. (shrink)

We argue that Paul Ricoeur’s work on narrative and alienation provides a largely untapped, though potentially fruitful way of re-thinking the question of political agency within the context of globalization. We argue that the political agency of many around the world has been placed in an exceedingly fragile position due to the rapid pace of globalization, the movement of multi-national corporations from their previous national headquarters, etc. We use Ricoeur’s work to argue that the alienation of globalization is not something (...) that can be simply overcome either in a unified world-state or a retreat to protectionist nationalism, because institutional mediation—and consequently alienation—is in some sense constitutive of all politics: the world of political representation operates by its own set of rules, which are at least partially disconnected from the represented world. Using the work of Mouffe, a radical democratic theorist, we then flesh out an ideal of agonistic citizenship (which recognizes both the need for and the inevitability of discursive struggle in politics) in a number of overlapping communities of interest, rather than tying political participation solely to the sovereign government of my state. The state will remain important, but because globalization has disenfranchised so many from their participation in “local” modes of self-governance (tied to the state in which they live), we have a responsibility to re-envision what political participation means outside the traditional context of the state. Rather than merely citizens of a particular state, we need to begin thinking of ourselves politically—and then acting—as “citizens” of Green Peace, Human Rights Watch, Doctors Without Borders, or whatever other supra-local concrete universals or communities of interest to which we belong, investing the time and energy there that we might previously have invested solely in our state’s government. (By implication, we must also ensure that these organizations work in transparent democratic ways themselves.) We believe that by re-plotting our narratives of political engagement in this way, we can positively respond to the alienation created by globalization, while avoiding both the extremes of “McWorld” (hyperglobalism) and “Jihad” (complete skepticism towards, or war against globalization) that Benjamin Barber and David Held have recently described. (shrink)

The authors delineate the nature and neglect of integrity capacity and global business citizenship by world business leaders. They discuss how the philosophical analysis of moral and economic complexity enhances judgment integrity capacity and global business citizenship. Finally, the authors recommend positive action steps to improve global business citizenship and leadership integrity capacity through a balanced and inclusive pluralistic economic philosophy.

John F. Henry is an eminent economist who has made important contributions to heterodox economics drawing on Adam Smith, Karl Marx, Thorstein Veblen, and John Maynard Keynes. His historical approach offers radical insights into the evolution of ideas (ideologies and theories) giving rise to and/or induced by the changes in capitalist society. Essays collected in this festschrift not only evaluate John Henry's contributions in connection to Marx's and Veblen's theories, but also apply them to the socio-economic issues (...) in the 21st century. In Part I leading heterodox economists in the traditions of Marxism, Post Keynesianism, and Institutionalism critically examine Marx's and Veblen's theoretical frameworks (and their connections to each other) that have become the foundations of heterodox economics. Chapters in Part II showcase alternative theoretical explanations inspired by Marx, Veblen, and Henry. Topics in this Part include financial crisis, financialization, capital accumulation, economics teaching, and the historical relationship between money and class society. Part III is devoted to John Henry's heterodox economics encapsulated in his "farewell" lecture, interview, and bibliography. Essays in this book, individually and collectively, make an important point that the history of economic thought (or historical analysis of economic theory and policy) is an integral part of developing heterodox economics as an alternative theoretical framework. Anyone who is troubled by the recurring failure of capitalism as well as mainstream economics will find this book well worth reading. (shrink)

In this volume, John Horty brings to bear his work in logic to present a framework that allows for answers to key questions about reasons and reasoning, namely: What are reasons, and how do they support actions or conclusions?

John F. Post argues that physicalistic materialism is compatible with a number of views often deemed incompatible with it, such as the objectivity of values, the irreducibility of subjective experience, the power of the metaphor, the normativity of meaning, and even theism.

Written by a highly respected scholar of Thomas Aquinas's writings, this volume offers a comprehensive presentation of Aquinas's metaphysical thought. It is based on a thorough examination of his texts organized according to the philosophical order as he himself describes it rather than according to the theological order. -/- In the introduction and opening chapter, John F. Wippel examines Aquinas's view on the nature of metaphysics as a philosophical science and the relationship of its subject to divine being. Part (...) One is devoted to his metaphysical analysis of finite being. It considers his views on the problem of the One and the Many in the order of being, and includes his debt to Parmenides in formulating this problem and his application of analogy to finite being. Subsequent chapters are devoted to participation in being, the composition of essence and esse in finite beings, and his appeal to a kind of relative nonbeing in resolving the problem of the One and the Many. Part Two concentrates on Aquinas's views on the essential structure of finite being, and treats substance-accident composition and related issues, including, among others, the relationship between the soul and its powers and unicity of substantial form. It then considers his understanding of matter-form composition of corporeal beings and their individuation. Part Three explores Aquinas's philosophical discussion of divine being, his denial that God's existence is self-evident, and his presentation of arguments for the existence of God, first in earlier writings and then in the "Five Ways" of his Summa theologiae. A separate chapter is devoted to his views on quidditative and analogical knowledge of God. The concluding chapter revisits certain issues concerning finite being under the assumption that God's existence has now been established. -/- John F. Wippel, professor of philosophy at The Catholic University of America, was recently awarded the prestigious Aquinas Medal by the American Catholic Philosophical Association. In addition to numerous articles and papers, Wippel has coauthored or edited several other works, including Metaphysical Themes in Thomas Aquinas and The Metaphysical Thought of Godfrey of Fontaines, both published by CUA Press. (shrink)

In his “Theology and Falsification” Professor Antony Flew challenges the sophisticated religious believer to state under what conceivable occurrences he would concede that there really is no God Who loves mankind: ‘Just what would have to happen not merely to tempt but also, logically and rightly, to entitle us to say “God does not love us” or even “God does not exist”? I therefore put…the simple central questions, “What would have to occur or to have occurred to constitute for you (...) a disproof of the love of, or of the existence of, God”?’. (shrink)

Originally published in 1830, this book can be called the first modern work in the philosophy of science, covering an extraordinary range of philosophical, methodological, and scientific subjects. "Herschel's book . . . brilliantly analyzes both the history and nature of science."—Keith Stewart Thomson, American Scientist.

inheritance reasoning in semantic networks allowing for multiple inheritance with exceptions. The approach leads to a definition of iaheritance that is..

This paper describes one way in which a precise reason model of precedent could be developed, based on the general idea that courts are constrained to reach a decision that is consistent with the assessment of the balance of reasons made in relevant earlier decisions. The account provided here has the additional advantage of showing how this reason model can be reconciled with the traditional idea that precedential constraint involves rules, as long as these rules are taken to be defeasible. (...) The account presented is firmly based on a body of work that has emerged in AI and Law. This work is discussed, and there is a particular discussion of approaches based on theory construction, and how that work relates to the model described in this paper. (shrink)