ABSTRACT:A key factor in the decision to convert a publicly owned company to private status is the expectation that value will be created, providing the firm with rent. These rents have implications regarding the property rights of the firm’s capital-contributing constituencies. We identify and analyze the types of rent associated with the newly private firm. Compared to public firms, going private allows owners the potential to partition part of the residual risk to bond holders and employees, rendering them to be (...) co-residual risk bearers with owners. We propose that new promotion-based contracts with bond holders and employees, reflecting their particular investments, be negotiated as the firm migrates from public to private status. These contracts should acknowledge the firm’s intent to maximize shareholder value and its need to take the risks necessary to do so, but support that the firm’s survival not be undermined due to its possibly opportunistic owners. (shrink)

The migration of publicly-held companies to private status through use of private equity has been both lauded and lambasted. While agency theorists praise the public-to-private or PTP firm as being an efficient form of corporate governance, others suggest that going private allows owners and managers to extract, rather than add, value.We contribute by developing a categorization of the potential sources of value for the PTP firm. We analyze the effects of each source of value, and find that there are specific (...) negative effects for non-equity stakeholders associated with several sources. Our analysis indicates that the degree to which value is added versus extracted will vary across firms; yet, all will tend to engage in some value extraction. Policy implications are discussed. (shrink)

The newly private corporation challenges scholars to re-examine corporate social responsibility under a markedly different governance system. We theorize regarding the implications of public corporations going private through use of private equity. The new governance system includes few owners and an expert, involved board of directors; combined with a greatly reduced public presence, public-to-private firms are proposed to place greater emphasis on financial performance and lesser emphasis on social performance. Several variables are proposed to moderate the lesser emphasis on social (...) performance. (shrink)

Shareholder activism challenges management control over the corporate status quo. Drawing on reactance theory and recent empirical work on corporate political activity and on firms’ response to shareholder activism, and testing using data complied by the Interfaith Center for Corporate Responsibility, the Federal Election Commission and others for S&P 500 firms from 1999-2006, we find evidence that CPA buffers firms from corporate social responsibility-related or socially-oriented shareholder proposals. Greater CPA, particularly greater relational CPA, influences responses of the U.S. Securities and (...) Exchange Commission as well as responses of the targeted firm, to help neutralize socially-oriented shareholder activism. (shrink)

Genetic testing has familial implications. Counsellors find themselves in (moral) conflict between medical confidentiality (towards the patient) and a potential right or even duty to warn at-risk relatives. Legal regulations vary between countries. English literature about German law is scarce. We reviewed the literature of relevant legal cases, focussing on German law, according to the Preferred Reporting Items for Systematic Reviews and Meta-Analyses guidelines. This article aims to familiarise counsellors with their responsibilities, compare the situation between countries and point out (...) legally unresolved areas.According to the German Genetic Diagnostics Act (Gendiagnostikgesetz) in case of an ‘avoidable or treatable’ genetic disorder, geneticists ought to confine themselves to the obligated advice to the patient. Whether a breach of the duty of confidentiality can be justified in exceptional cases by ‘necessity as justification’ for actively informing relatives at risk remains legally unclear. In case of a ‘neither avoidable nor treatable’ genetic disease, geneticists should also refrain from actively informing relatives as the justifiable state of emergency does not permit to break the duty of confidentiality. (shrink)

Morality in Sport Sport continues to make its presence known throughout the world as it prospers at all levels. Amazingly, there is no end in sight to the popularity and growth of sport. Essential to sport's continued prosperity, growth, and overall livelihood is the sustenance of a firm moral base. It is the goal and hope of the author that you find this textbook to be a useful guide in helping you maintain and build upon the foundation of moral good (...) that is required for sport to exist now and in the future. The need to make good moral decisions in sport is constant. And, although opportunities to make such decisions in sport are seemingly endless, what is "moral" can be somewhat unclear. Given the various perspectives on morality and the lack of clear-cut distinctions between moral and immoral actions, disagreements regarding moral behavior and sport are likely to always exist. However, having a blatant disregard for good moral behavior in sport is difficult to defend from most any position. (shrink)

Czech translation of Marguerite Léna’s Choisir l’ Europe: Constantin Sigov et la dignité humaine.

Wicked problems’ are tricky to solve because of their many interconnected components and a lack of any single optimal solution. At the science–policy interface, all problems can look wicked: research exposes the complexity that is relevant to designing, executing and implementing policy fit for ambitious human needs. Expertise in philosophical research can help to navigate that complexity.

Envy and resentment are generally thought to be unpleasant and unethical emotions which ought to be condemned. I argue that both envy and resentment, in some important forms, are moral emotions connected with concern for justice, understood in terms of desert and entitlement. They enable us to recognise injustice, work as a spur to acting against it and connect us to others. Thus, we should accept these emotions as part of the ethical life.

This article discusses madness and saintliness in Dostoevsky’s novels and investigates how the madman and the saint discern between good and evil. I first explore the metaphysical, spiritual, and moral universe of Dostoevsky’s characters by drawing on William Desmond’s philosophy of the between. Second, I argue that the madman’s misconstrual of reality can be grasped as an idolatrous, divisive, and parodic imitation of the good. Third, I reflect on disembodied discernment. In some cases, due to the weakness of the moral (...) agent, the good cannot be properly embodied in space and time, even if a person exhibits ethically sound discernment. Fourth, I look at examples of holy discernment and examine how, through love, the genuinely good person is able to transform idolatry into a universal and cosmic sacramentalism. (shrink)

John R. Schneider explores the problem that animal suffering, caused by the inherent nature of Darwinian evolution, poses to belief in theism. Examining the aesthetic aspects of this moral problem, Schneider focuses on the three prevailing approaches to it: that the Fall caused animal suffering in nature (Lapsarian Theodicy), that Darwinian evolution was the only way for God to create an acceptably good and valuable world (Only-Way Theodicy), and that evolution is the source of major, God-justifying beauty (Aesthetic (...) Theodicy). He also uses canonical texts and doctrines from Judaism and Christianity - notably the book of Job, and the doctrines of the incarnation, atonement, and resurrection - to build on insights taken from the non-lapsarian alternative approaches. Schneider thus constructs an original, God-justifying account of God and the evolutionary suffering of animals. His book enables readers to see that the Darwinian configuration of animal suffering unveiled by scientists is not as implausible on Christian theism as commonly supposed. (shrink)

Les recompositions familiales touchent l’ensemble des liens familiaux et des liens intergénérationnels. Or, si l’on observe, tant sur le plan juridique que dans les pratiques des familles conjugales, une acception plus complexe et plus riche de la parentalité, les grands-parents restent souvent méconnus. Comment construisent-ils leurs rapports à leurs « beaux-petits-enfants »? Nous avons examiné la littérature et interrogé des « belles-grands-mères » pour tenter d’y voir plus clair. Quelles représentations le champ social offre-t-il des beaux-grands-parents? Et quelles sont concrètement (...) les conditions et les étapes qui rendent possible une identité « beau-grand-parentale »? (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Emergent Spacetime, the Megastructure Problem, and the Metaphysics of the SelfSusan Schneider (bio)The aim of this article is to introduce new thoughts on some pressing topics relating to my book, Artificial You, ranging from the fundamental nature of reality to quantum theory and emergence in large language models (LLM) like GPT-4. Since Artificial You was published, the innovations in the domain of AI chatbots like GPT-4 have been (...) rapid-fire, and at times dizzying. The thoughtful discussion in this symposium offers an important opportunity for cross-cultural engagement on these issues and more. I am grateful for the opportunity to learn from the insights of these authors and editors. [End Page 314]The order of my comments will be as follows: in the context of considering Christian Coseru's intriguing response (section 1), I begin by discussing the nature of the self, which I use as a springboard into larger, vexing issues about the nature of fundamental reality, given work on emergent spacetime (ES) (section 2). I offer a "Prototime Interpretation" of quantum mechanics in which spacetime emerges from a prototemporal arena, and use this idea to explore the nature of the self and mind.Using the assumption of ES, I devise an approach to metaphysically fundamental objects (which I call "quantum objects") based on quantum entanglement and the bundle theory of substance. I illustrate how the self or mind, insofar as it is a substance that supervenes on quantum objects, could be partly or fully determined by the properties of the quantum objects on which it supervenes. Intriguingly, this would mean that the self or mind is not located in any singular point in space at a given time. I also explain how the Prototime Interpretation of quantum mechanics is compatible with change and causation at the fundamental level.In section 3 I turn to Inês Hipólito's interesting article, discussing the import of not underestimating AI autonomy in light of the increasingly sophisticated large-language models (LLMs).1 I raise the "AI Megastructure Problem," a new problem of AI control arising in the context of the incipient AGI systems that are now populating the AI ecosystem. The problem, which arose from a collaboration with Kyle Kilian, considers the possibility of emergent properties from the interaction of the LLMs and other AI's in the AI ecosystem (Schneider and Kilian 2023). Then, turning to Noam Cook's intriguing discussion of Japanese philosophy, I consider the pressing issue of testing for machine consciousness, devising a modified version of my AI consciousness test (ACT), originally developed with astrophysicist Edwin Turner. I add an "interpretability component" to the ACT to deal with the case of LLMs (section 4).I. Patternism and the Biological Process ViewChristian Coseru's intriguing piece focuses on the chapters on personal identity in Artificial You, proposing that when it comes to the nature of the self, one should adopt "a biologically informed process-ontology perspective on personal identity," which "means recognizing that organic identity is different in kind: it is an identity of form rather than of matter."His position is akin to the patternist views that I argue against in Artificial You in the sense that it embraces the idea that form, rather than the particular matter that comprises one's brain and body, is key to one's survival over time. But there are important differences as well. For transhumanists tend to believe that the self can survive radical changes in one's substrate, transitioning from thinking with a biological brain to computing with a network of microchips, for instance. Coseru departs from this, writing: [End Page 315]As organisms, persons endure by undergoing constant change on a fundamentally cellular level, including the change in the neural pathways that realize the cognitive processes of thinking and expressing these very thoughts right now.Furthermore:[I]f persons are processes rather than things, then they cannot be cognitively enhanced by augmenting, replacing or transferring their functioning parts (e.g., brain cells).I will call this position the "Biological Process View" (BPV). I have several questions about it. First, how does this position solve one of the key problems I raised for... (shrink)

lntroduction Imaginary and Images M philosophical imaginary refers to both the capacity to imagine and the stock of images philosophers use. ...

The prospect of organic unified knowledge challenges the increasing fragmentation of scientific disciplines which have become narrowly specialized with the accelerating rate of discoveries and the shaky status of many inductively obtained theories. Yet proof checkers which can control the logical correctness of reasoning offer the possibility of developing an integrative, deductive approach encompassing many branches of science within the same framework. The Principia Humanistica, developed by Krzysztof de Werszowec Rey, constitute such an attempt to apply the Mizar system of (...) verification to the human and related sciences as well as theology. Mizar is based on set theory whose terms may define the individual, value choices, the human person, culture, and religion. This essay explores the Mizar framework, including the definition of valuation and religion. It seeks to show the possibilities opened by such an integrated multidisciplinary approach for the study of free will, the definition of courage, and convergence towards unification with God. (shrink)

Prologue. It is evident from the title that this is a philosophical discussion. I shall not apologize for the philosophy, though I am well aware that most scientists, engineers, and mathematicians have little regard for it; instead, I shall give this short prologue to justify the approach.

The challenges public comprehensive universities face today are expanding—they have been challenged to enroll and graduate more students, adopt new technologies that lower cost without sacrificing quality, and align program and curricular offerings with the skills that employers require. While these universities have a long history of adapting to change, today’s environment will likely test the capabilities of even the most adaptive institutions. This volume assembles a team of experts from a variety of disciplines to examine both the history of (...) the comprehensive university and what lies ahead. Overall, the book grapples with such questions as: How do these institutions adapt to serve the growing population of non-traditional students? How well do they prepare graduates for the labor market? Can partnerships between community colleges and comprehensive universities bolster student success? The University Next Door draws much-needed attention to a set of institutions that has historically received little notice, yet play an important role in meeting our new attainment goals and helping the American economy grow. Book Features: Examines the role of comprehensive universities from start to finish—their history and future. Uses empirical analysis to explore complex questions about which students choose these universities and why. Explores how these institutions might struggle under a federal ratings system such as the one proposed by President Obama. Discusses how these institutions can better monitor the needs of the economy and better educate students to fill those needs. Provides recommendations to inform future decisions about higher education policy. (shrink)

Background Retraction is a mechanism for alerting readers to unreliable material and other problems in the published scientific and scholarly record. Retracted publications generally remain visible and searchable, but the intention of retraction is to mark them as “removed” from the citable record of scholarship. However, in practice, some retracted articles continue to be treated by researchers and the public as valid content as they are often unaware of the retraction. Research over the past decade has identified a number of (...) factors contributing to the unintentional spread of retracted research. The goal of the Reducing the Inadvertent Spread of Retracted Science: Shaping a Research and Implementation Agenda (RISRS) project was to develop an actionable agenda for reducing the inadvertent spread of retracted science. This included identifying how retraction status could be more thoroughly disseminated, and determining what actions are feasible and relevant for particular stakeholders who play a role in the distribution of knowledge. -/- Methods These recommendations were developed as part of a year-long process that included a scoping review of empirical literature and successive rounds of stakeholder consultation, culminating in a three-part online workshop that brought together a diverse body of 65 stakeholders in October–November 2020 to engage in collaborative problem solving and dialogue. Stakeholders held roles such as publishers, editors, researchers, librarians, standards developers, funding program officers, and technologists and worked for institutions such as universities, governmental agencies, funding organizations, publishing houses, libraries, standards organizations, and technology providers. Workshop discussions were seeded by materials derived from stakeholder interviews (N = 47) and short original discussion pieces contributed by stakeholders. The online workshop resulted in a set of recommendations to address the complexities of retracted research throughout the scholarly communications ecosystem. -/- Results The RISRS recommendations are: (1) Develop a systematic cross-industry approach to ensure the public availability of consistent, standardized, interoperable, and timely information about retractions; (2) Recommend a taxonomy of retraction categories/classifications and corresponding retraction metadata that can be adopted by all stakeholders; (3) Develop best practices for coordinating the retraction process to enable timely, fair, unbiased outcomes; and (4) Educate stakeholders about pre- and post-publication stewardship, including retraction and correction of the scholarly record. -/- Conclusions Our stakeholder engagement study led to 4 recommendations to address inadvertent citation of retracted research, and formation of a working group to develop the Communication of Retractions, Removals, and Expressions of Concern (CORREC) Recommended Practice. Further work will be needed to determine how well retractions are currently documented, how retraction of code and datasets impacts related publications, and to identify if retraction metadata (fails to) propagate. Outcomes of all this work should lead to ensuring retracted papers are never cited without awareness of the retraction, and that, in public fora outside of science, retracted papers are not treated as valid scientific outputs. (shrink)

Iris Marion Young argues we cannot understand others' experiences by imagining ourselves in their place or in terms of symmetrical reciprocity (1997a). For Young, reciprocity expresses moral respect and asymmetry arises from people's greatly varying life histories and social positions. La Caze argues there are problems with Young's articulation of asymmetrical reciprocity in terms of wonder and the gift. By discussing friendship and political representation, she shows how taking self-respect into account complicates asymmetrical reciprocity.

Form of Thought and Presentational Gesture in Karl Popper and E. H. Gombrich The paper deals with common elements and differences in Popper and Gombrich, especially concerning their forms of thought and presentational gesture. Among others it considers the model of common sense which was basal for both of them as well as the similarities of searchlight theory (Popper) and some postulates of Gestalt psychology (Gombrich). At the end it analyses their approaches to historiography with special focusing on Gombrich's comments (...) on the concept of social history of art. (shrink)

Mit diesem Studienbuch liegt seit langem wieder eine historische Überblicksdarstellung vor, die die Geschichte der Kunsttheorie von der Antike bis ins 18. Jahrhundert in didaktisch durchdachter Weise neu behandelt. Ausführlich werden zunächst die Positionen antiker und mittelalterlicher Autoren zur Kunst- und Schönheitstheorie sowie zur Rhetorik, Poetik und Hermeneutik vorgestellt. Der Autor führt dann in konzentrierter Form in alle relevanten Kunst- und Proportionslehren von der Frührenaissance bis zur Mitte des 18. Jahrhunderts ein. Dabei finden auch die wichtigsten Architekturtraktate der Frühen Neuzeit (...) Berücksichtigung. (shrink)

Mit diesem Studienbuch liegt seit langem wieder eine historische Überblicksdarstellung vor, die die Geschichte der Kunsttheorie von der Antike bis ins 18. Jahrhundert in didaktisch durchdachter Weise neu behandelt. Ausführlich werden zunächst die Positionen antiker und mittelalterlicher Autoren zur Kunst- und Schönheitstheorie sowie zur Rhetorik, Poetik und Hermeneutik vorgestellt. Der Autor führt dann in konzentrierter Form in alle relevanten Kunst- und Proportionslehren von der Frührenaissance bis zur Mitte des 18. Jahrhunderts ein. Dabei finden auch die wichtigsten Architekturtraktate der Frühen Neuzeit (...) Berücksichtigung. (shrink)