Abstract:This paper examines two recent trends relative to boards of directors’ compensation, and their potential incompatibility. There has been some progress in increasing board diversity, specifically the inclusion of women and minorities on boards. The increasing trend requiring directors to hold/purchase equity as a requirement of board membership may seriously compromise further improvements in diversifying boards. Also, an increasing number of companies compensate directors partially or fully in stock grants and options. These compensation policies may be exclusionary, especially for women (...) and minorities, impacting the quality of boardroom discussions and decisions. This study systematically examines whether corporations requiring director equity are exclusionary toward women and minority directors. Contrary to being exclusionary, companies with director stock requirements and annual stock awards have greater representation by women and minorities on their board. Moreover, larger companies are both more likely to have such policies and have higher proportions of women and minorities on the board. (shrink)

Abstract:While a ubiquitous phenomenon, initial public offerings (IPOs) have received no attention in the ethics literature. We provide an overview of a series of potential conflicts of interest that pervade the IPO process. We also report the results of an empirical assessment of IPOs and those elements that may inform a substantive moral hazard faced by key players in the period prior to and just after an IPO.

Many areas of business ethics research are “sensitive.” We provide an empirical assessment of the randomized response techniquewhich provides absolute anonymity to subjects and “legal immunity” to the researcher. Beyond that, RRT techniques provide complete disclosure to subjects, unconditional privacy is maintained, and there is no deception.

The United States Sentencing Commission’s guidelines for the sentencing of organizations found guilty of violating federal laws recently became effective. Dramatically increased penalties are possible under these gudelines, but so too is a substantial reduction in the penalties imposed on organizations that have an effective program in place to prevent and detect violations. This provides corporations with a tremendous new incentive in inaugurate organizational ethics audits both to avoid violations in the first instance and to reduce the penalty imposed in (...) the event that a violation occurs. We argue, however, that there have always been very good reasons for organizations to conduct such audits, which emphasize the identification of the organizational factors that create incentives for unethical behavior. Corporate ethics programs initiated without reference to such factors cannot reasonably be expected to be effective in improving a company’s internal ethical environment. (shrink)

Many areas of business ethics research are “sensitive.” We provide an empirical assessment of the randomized response technique which providesabsoluteanonymity to subjects and “legal immunity” to the researcher. Beyond that, RRT techniques provide complete disclosure to subjects, unconditional privacy is maintained, and there is no deception.

This research, relying on companies continuously listed on the Fortune 500 over a five-year period (n=384), provides an empirical assessment of two hypotheses. Based on 334 violations over the period the results indicate: (1) gross differences in illegal activity based on corporate size, and (2) similar differences in corporate recidivism also based on size. Discussion includes a number of size related dynamics which may account in part for such results.

Federal legislation (the Employee Polygraph Protection Act) adopted in 1988 prohibits virtually all private sector employers from requiring or requesting preemployment polygraph examinations for prospective employees. Since then, written integrity testing designed to reliably distinguish those prospective employees who may steal from the company from those who are far less likely to do so has been something of a growth industry. Indeed, the American Psychological Association has recently noted that honesty tests have demonstrated useful levels of validity as an employee (...) selection measure. We provide an alternative perspective. We argue that, even under the most charitable of assumptions, the propensity of integrity tests to generate false positives (i.e., to identify prospective employees as potential thieves when, in fact, they are not) is unsuitably large. Thus, the integrity test as currently configured is largely without merit as a personnel selection device. (shrink)

Some would argue that the more promising areas of business ethics research are "sensitive." In such areas, it would be expected that subjects, if inclined to respond at all, would be guarded in their responses, or respond inaccurately. We provide an introduction to an empirical approach -- the unmatched block count (UCT) -- for collecting these potentially sensitive data which provides absolute anonymity and confidentiality to subjects and "legal immunity" to the researcher. Interestingly, under UCT protocol researchers could not divulge (...) subjects' responses even if they were inclined to do so. Beyond that, UCTs provide complete disclosure to subjects and there is no deception. (shrink)

While the notion of establishing a value for human life may be uncomfortable for some, we argue that it is a fundamental requirement for many aspects of public policy. We compare a number of approaches which have been traditionally relied on to make estimations. Also, we provide an exercise which provides an unusual, but we hope provocative, perspective on the evaluation of human life.

This study of major corporations (n=481) provides an empirical assessment of the effects of several corporate governance variables (CEO duality, boards of director composition, officers and directors common stock holdings, institutional common stock holdings, number of majority owners) on the adoption of so-called severance agreements. A discriminant analysis indicates a significant multivariate function. Wilks lambda univariate analyses suggest that the percentage of common stock held by owners and directors and number of majority stock holders are the more robust discriminators.

Director compensation can potentially represent an ethical minefield. When faced with supporting strategic decisions that can lead to an increase in director pay, directors may consider their own interests and not solely those of the shareholders to whom they are legally bound to represent. In such cases, directors essentially become agents, rather than those installed to protect principals (shareholders) from agents. Using acquisitions as a study context, we employ a matched-pair design and find a statistically significant difference in outside director (...) compensation between acquiring and control firms. Outside directors of acquiring firms earn more than twice as much as their counterparts in the matched-sample. (shrink)

This study of 481 corporations provides an assessment of the relationship between several corporate governance variables (board composition, type of board leadership, officer and director stock holdings, institutional stock holdings, number of majority owners, existence of severance agreements) and adoption of anti-takeover amendments. The results of analysis suggest that the two groups (adopters/non-adopters) differ significantly in regards to these variables.

This paper discusses legal and ethical issues related to genetic screening. It is argued that persons identified with actual or perceived deleterious genetic markers are protected by the American with Disabilities Act of 1990 and the Civil Rights Act of 1991, if members of a protected group, regardless of whether or not they are currently ill. However, legislation may not protect all employees in all scenarios, in which case, ethical principles should guide decision-making. In doing so a model of preventive (...) ethics is proposed to better understand the multiple levels on which this issue resides. (shrink)

Access to a deep pool of talent is essential to the success of every professional services firm. The supply of that talent is contingent upon the available rewards for the exercise of that talent, and both the existence of the potential rewards and the beliefs that individuals hold about the existence of the rewards affect the decision to remain in the field. One structural factor that may affect the judgment about whether to remain in a profession concerns promotions based on (...) the gender of the employee. In this study, we examine the “glass ceiling” within the context of the accounting profession. While advances have been made within the accounting profession to address the glass ceiling, the continued existence—and perceptions about the continued existence—of the issue exert adverse effects upon the available talent pool and may create long-term problems for the profession. In this study, we investigate glass ceiling perceptions among a large sample of female accounting professionals employed in accounting; the sample includes both public accountants, and those employed in industry accounting. Our study yields the finding of beliefs in bias-driven effects, structural effects, and cultural effects among these accounting professionals. Glass ceiling perceptions are also influenced by several demographic factors. Furthermore, accounting professionals employed by industry are more likely to report a glass ceiling within their firms than accounting professionals employed by public accounting firms. The findings are of interest to researchers who explore gender-related issues in professional service firms such as the field of accounting, and to senior members of practice who are tasked with ensuring the integrity and quality of the talent pool and the equitable distribution of rewards to employees. (shrink)

This text provides a lively introduction to the developments in philosophy of language in this century, and to the way these have impinged upon religious language. Included is the relevance of analytical philosophy of language, but the text also covers important historical debates about religious language that have had increasing impact upon biblical studies and theology.

Overestimation of one’s ability to argue their position on socio-political issues may partially underlie the current climate of political extremism in the U.S. Yet very little is known about what factors influence overestimation in argumentation of socio-political issues. Across three experiments, emotional investment substantially increased participants’ overestimation. Potential confounding factors like topic complexity and familiarity were ruled out as alternative explanations. Belief-based cues were established as a mechanism underlying the relationship between emotional investment and overestimation in a measurement-of-mediation and manipulation-of-mediator (...) design. Representing a new bias blind spot, participants believed emotional investment helps them argue better than it helps others ; where in reality emotional investment harmed or had no effect on argument quality. These studies highlight misguided beliefs about emotional investment as a factor underlying metacognitive miscalibration in the context of socio-political issues. (shrink)

We introduce a game model for an Algol-like programming language with primitives for parallel composition and synchronization on semaphores. The semantics is based on a simplified version of Hyland–Ong-style games and it emphasizes the intuitive connection between the concurrent nature of games and that of computation. The model is fully abstract for may-equivalence.

This book offers a sustained engagement with the political philosophy of Paul Ricoeur and demonstrates both the significance of the political in his own thinking throughout his career, and how his understanding of the political offers something valuable to current discussions of issues in political philosophy.

This book offers a sustained engagement with the political philosophy of Paul Ricoeur and demonstrates both the significance of the political in his own thinking throughout his career, and how his understanding of the political offers something valuable to current discussions of issues in political philosophy.

Paul’s Ricoeur’s Lectures on Ideology and Utopia are more pertinent than ever forty years later. The chapters in this book reflect the lectures’ original intricacy as the authors not only insightfully analyze them but also creatively apply them.

This study investigated the proficiency of CPAs in recognizing and evaluating ethical and unethical situations. In addition, CPAs provided attitudes on ethics education. Respondents were asked to evaluate the ethical acceptability of CPA behavior as presented in six vignettes involving a variety of ethical dilemmas from questions of conflict of interest to questions of personal honor. The results tend to signify that CPAs can, to a degree, distinguish ethical and unethical behaviors. It appears that ethical behaviors and very specific unethical (...) behaviors were more easily identified by practitioners. This may reveal uncertainty and apprehension as to exactly what constitutes unethical behavior since, in many circumstances, this resolution is made on a case-specific basis rather that via a universal rule. In addition, it is interesting to note that CPAs tend to picture themselves as more ethically-oriented than their peers.With respect to ethics education, the CPAs indicated that instruction in ethical concepts and literacy was important and should definitely be embodied in the accounting curriculum as well as at all educational levels. However, the CPAs were remarkably uncertain and ambivalent as to the qualifications of university faculty to provide this instruction and guidance. (shrink)

Inspired by Plantinga’s Evolutionary Argument Against Naturalism (EAAN), we develop an argument—the “Scriptural Argument Against Dogmatic Protestantism” (SAADP)—that Protestants who accept the doctrine of sola scriptura cannot reasonably hold that Catholic and Eastern churches are in doctrinal error. If sola scriptura is true and Catholic and Eastern Churches have fallen into error, it is improbable that any Protestant can reliably form true beliefs about controversial points of Christian doctrine, including sola scriptura or suggestions that Catholic and Eastern Christians are in (...) error. We evaluate potential responses to SADDP, considering how SAADP should affect ecumenical doctrinal debates. (shrink)

This paper presents an enhanced ontology formalization, combining previous work in Conceptual Structure Theory and Order-Sorted Logic. Most existing ontology formalisms place greater importance on concept types, but in this paper we focus on relation types, which are in essence predicates on concept types. We formalize the notion of ‘predicate of predicates’ as meta-relation type and introduce the new hierarchy of meta-relation types as part of the ontology definition. The new notion of closure of a relation or meta-relation type is (...) presented as a means to complete that relation or meta-relation type by transferring extra arguments and properties from other related types. The end result is an expanded ontology, called the closure of the original ontology, on which automated inference could be more easily performed. Our proposal could be viewed as a novel and improved ontology formalization within Conceptual Structure Theory and a contribution to knowledge representation and formal reasoning (e.g., to build a query-answering system for legal knowledge). (shrink)

We discuss the important, but greatly under-researched, topic of the social aspects of human wayfinding during navigation. Wayfinding represents the planning and decision-making component of navigation and is arguably among the most common, real-world domains of both individual and group-level decision making. We highlight the myriad ways that wayfinding by people is not a solitary psychological process but is influenced by the actions of other people, even by their mere presence. We also present a novel and comprehensive framework for classifying (...) wayfinding in complex environments that incorporates the influence of other people. This classification builds upon the premises of previous wayfinding taxonomies and is further structured into four parts based upon (1) the nature of the interaction between the actors and (2) the time frame in which the interaction takes place. We highlight gaps in our current understanding of social wayfinding and outline future research opportunities. (shrink)

Wlodek Rabinowicz suggested in an e-mail conversation (2001) to me that one might be able to use a particular Hats Puzzle to make a Dutch Book against a group of individually rational persons. I present a fanciful story here that has the same structure as Rabinowicz’s Dutch Book.

Given the importance of the Machiavellianism construct on informing a wide range of ethics research, we focus on gaining a better understanding of Machiavellianism within the whistle-blower context. In this regard, we examine the effect of Machiavellianism on whistle-blowing, focusing on the underlying mechanisms through which Machiavellianism affects whistle-blowing. Further, because individuals who are higher in Machiavellianism (high Machs) are expected to be less likely to report wrongdoing, we examine the ability of an organization’s ethical environment to increase whistle-blowing intentions (...) of high Machs. Results from a sample of 116 MBA students support our premise that Machiavellianism is negatively related to whistle-blowing. Further, we find that Machiavellianism has an indirect effect on whistle-blowing through perceived benefits and perceived responsibility. Finally, we find that a strong ethical environment, relative to a weak ethical environment, increases whistle-blowing intentions incrementally more for individuals who are higher in Machiavellianism. Taken together, these findings extend our understanding of how Machiavellianism and an organization’s ethical environment impact whistle-blowing. (shrink)

The author's experiences in an ethics seminar for business school faculty are described. Conclusions from the dynamics of the participants' interactions are drawn and recommendations are made for teaching business school students about ethics.

Some would argue that the more promising areas of business ethics research are "sensitive." In such areas, it would be expected that subjects, if inclined to respond at all, would be guarded in their responses, or respond inaccurately. We provide an introduction to an empirical approach -- the unmatched block count (UCT) -- for collecting these potentially sensitive data which provides absolute anonymity and confidentiality to subjects and "legal immunity" to the researcher. Interestingly, under UCT protocol researchers could not divulge (...) subjects' responses even if they were inclined to do so. Beyond that, UCTs provide complete disclosure to subjects and there is no deception. (shrink)

Humans, animals, and the environment face a universal crisis: antimicrobial resistance. Addressing AR and its multi-disciplinary causes across many sectors including in human and veterinary medicine remains underdeveloped. One barrier to AR efforts is an inconsistent process to incorporate the plenitude of stakeholders about what AR is and how to stifle its development and spread—especially stakeholders from the animal agriculture sector, one of the largest purchasers of antimicrobial drugs. In 2019, The Wellcome Trust released Reframing Resistance: How to communicate about (...) antimicrobial resistance effectively, which proposed the need to establish a consistent and harmonized messaging effort that describes the AR crisis and its global implications for health and wellbeing across all stakeholders. Yet, Reframing Resistance does not specifically engage the animal agriculture community. This study investigates the gap between two principles recommended by Reframing Resistance and animal agriculture stakeholders. For this analysis, the research group conducted 31 semi-structured interviews with a diverse group of United States animal agriculture stakeholders. Participants reported attitudes, beliefs, and practices about a variety of issues, including how they defined AR and what entities the AR crisis impacts most. Exploration of Reframing Resistance’s Principle 2, “explain the fundamentals succinctly” and Principle 3, “emphasis that this is universal issue; it can affect anyone, including you” reveals disagreement in both the fundamentals of AR and consensus of “who” the AR crisis impacts. Principle 2 may do better to acknowledge that animal agriculture stakeholders espouse a complex array of perspectives that cannot be summed up in a single perspective or principle. As a primary tool to combat AR, behavior change must be accomplished first through outreach to stakeholder groups and understanding their perspectives. (shrink)

In this consensus report by a diverse group of academics who conduct and/or are concerned about social and behavioral genomics (SBG) research, the authors recount the often‐ugly history of scientific attempts to understand the genetic contributions to human behaviors and social outcomes. They then describe what the current science—including genomewide association studies and polygenic indexes—can and cannot tell us, as well as its risks and potential benefits. They conclude with a discussion of responsible behavior in the context of SBG research. (...) SBG research that compares individuals within a group according to a “sensitive” phenotype requires extra attention to responsible conduct and to responsible communication about the research and its findings. SBG research (1) on sensitive phenotypes that (2) compares two or more groups defined by (a) race, (b) ethnicity, or (c) genetic ancestry (where genetic ancestry could easily be misunderstood as race or ethnicity) requires a compelling justification to be conducted, funded, or published. All authors agree that this justification at least requires a convincing argument that a study's design could yield scientifically valid results; some authors would additionally require the study to have a socially favorable risk‐benefit profile. (shrink)

On the face of it both aggregation and deliberation represent alternative ways of producing a consensus. I argue, however, that the adequacy of aggregation mechanisms should be evaluated with an eye to the effects, both possible and actual, of public deliberation. Such an evaluation is undertaken by sketching a Bayesian model of deliberation as learning from others.

Many countries have regulations that require firms to engage in minimum levels of corporate social activities in areas such as the environment and social welfare. In this paper, we argue that changes in a firm’s compliance with CS regulations are reflected in its reputation for corporate social responsibility, which affects the firm’s performance. The performance impacts depend on whether the firm’s CSR reputation in the current and prior periods is positive, neutral, or negative. Our theoretical framework draws on the reputation (...) literature and on the concepts of recency bias, which weights the present more heavily than the past, and negativity bias, which weights negative assessments more heavily than neutral or positive assessments. We test our hypotheses on a sample of 7317 banks over 1992–2007 where we compare a bank’s return on assets with its current and prior compliance ratings under the U.S. Community Reinvestment Act. We find that changes in CSR reputation have predictable, asymmetric, and sizeable impacts on firm performance. For example, for an average bank with $1 billion in assets, gaining a positive CSR reputation translates into a rise in profits of 4.04%; gaining a negative CSR reputation results in a drop in profits of − 7.8%. (shrink)

The progression of research and scholarly inquiry does not occur in isolation and is wholly dependent on accurate reporting of methods and results, and successful replication of prior work. Without mechanisms to correct the literature, much time and money is wasted on research based on a crumbling foundation. These guidelines serve to outline the respective responsibilities of researchers, institutions, agencies, and publishers or editors in maintaining the integrity of the research record. Delineating these complementary roles and proposing solutions for common (...) barriers provide a foundation for best practices. (shrink)