Building on earlier work on the relationship between corporate social performance (CSP) and a firm’s financial performance, this integrative empirical study supports the theoretical argument that the higher a firm’s CSP the lower its financial risk. Specifically, the relationship between CSP and risk appears to be one of reciprocal causality, because prior CSP is negatively related to subsequent financial risk, and prior financial risk is negatively related to subsequent CSP. Additionally, CSP is more strongly correlated with measures of market risk (...) than measures of accounting risk. Of all CSP measures, reputation for social responsibility appears to be the most important one in terms of its risk implications. (shrink)

ABSTRACT:This study examines whether the empirical evidence on the relationship between corporate social performance (CSP) and corporate financial performance (CFP) differs depending on the publication outlet in which that evidence appears. This moderator meta-analysis, based on a total sample size of 33,878 observations, suggests that published CSP-CFP findings have been shaped by differences in institutional logics in different subdisciplines of organization studies. In economics, finance, and accounting journals, the average correlations were only about half the magnitude of the findings published (...) in Social Issues in Management, Business Ethics, or Business and Society journals (mean corrected correlation coefficientof.22 vs..49, respectively). Specifically, economists did not find null or negative CSP-CFP correlations, and average findings published in general management outlets (=.41) were closer to Social Issues in Management, Business Ethics, and Business and Society results than to findings reported in economics, finance, and accounting journals. (shrink)

There has been some theoretical and empirical debate that the positive relationship between corporate social performance (CSP) and firm financial performance (FFP) is spurious and in fact caused by a third factor, namely large firm size. This study examines this question by integrating three meta-analyses of more than two decades of research on (1) CSP and FFP, (2) firm size and CSP, and (3) firm size and FFP into one path-analytic model. The present study does not confirm size as a (...) third factor which would confound the relationship between CSP and FFP. That is, even if firm size is controlled for across studies (comprising, on average, over 15 000 observations), CSP and FFP remain positively correlated, showing a "true-score" corrected path coefficient p of 0.37. (shrink)

This article explores the role of financial markets for sustainable development. More specifically, the authors ask to what extent financial markets foster and facilitate more sustainable business practices. The authors highlight that their current role is rather modest and conclude that, on the old paths, a paradoxical situation exists. On one hand, financial market participants increasingly integrate environmental, social, and governance criteria into their investment decisions, whereas on the other hand, in terms of organizational reality, there seems to be no (...) real shift toward more sustainable business practices. The authors identify two main challenges within the field of sustainable investments that are relevant for entering new avenues that may help overcome this situation. First, a reorientation toward a long-term paradigm for sustainable investments is important. Second, ESG data must become more trustworthy. From a theoretical point of view, the authors finally highlight the potential market consequences when ESG investment criteria are used. (shrink)

The question of what drives corporate social performance has become a vital concern for many managers and researchers of large corporations. This study addresses this question by adopting a multilevel, multistakeholder, and multimethod approach to theorize and estimate the relative influence of macro, meso, and micro factors on CSP. Applying three different methods of variance decomposition analysis to an international sample of 2060 large public companies over a time span of 5 years, our results show that firm-level factors explain the (...) largest proportion of variance in aggregate CSP as well as CSP oriented toward communities, the natural environment, and employees. These results support our hypotheses according to which CSP is not primarily driven by macrolevel or mesolevel factors, except for shareholder-oriented CSP, which is relatively more influenced by country-level factors. As a whole, our findings also point to the value of subdividing CSP into its stakeholder-specific components as this disaggregation allows for a more careful examination of distinct drivers of distinct aspects of CSP. (shrink)

To mitigate risk, should companies signal a broad range of environmental, social, and governance initiatives or instead focus on only a few ESG issues? Drawing on signaling theory, we propose that a broad array of ESG initiatives generates not only signal consistency but also accelerating signal costs. Our empirical results support the resultant hypothesis of a curvilinear relationship between ESG scope and equity risk. In addition, this U-shaped curve seems to become steeper when firms face multiple media-reported ESG controversies. Overall, (...) our study qualifies the conventional wisdom that firms can reduce equity risk by attending to a wide variety of stakeholders and highlights the moderating impact of the firm’s media environment. (shrink)

In this preliminary study, the authors extend Swanson's concept of normative myopia (the propensity of executives to downplay or ignore the values at stake in their decision making) by using it as a point of reference for studying executives' preference for high pay dispersion. Specifically, the authors designed a survey to examine hypothesized relationships among myopia, personality, and executives' preference for highly stratified organizational pay structures. Data from 133 executive respondents suggest that myopic executives tend to prefer top-heavy compensation systems. (...) In addition, the findings point to an inverse relationship between the personality factor Agreeableness and normative myopia, with the former offsetting the latter. The authors reject the alternative hypothesis that gender influences both agreeableness and myopia and conclude with some implications for business and society, including Swanson's proposition that normative myopia at the top contributes to a neglectful form of corporate social performance. (shrink)

Management of organizational tensions can facilitate the simultaneous advancement of economic, social, and environmental priorities. The approach is based on managers identifying and managing tensions between the three priorities, by employing one of the three strategic responses. Although recent work has provided a theoretical basis for such tension acknowledgment and management, there is a dearth of empirical studies. We interviewed 32 corporate sustainability managers across 25 forestry and wood-products organizations in Australia. Study participants were divided into two groups: those considered (...) effective at corporate sustainability and a status-quo group. Contrary to current theory, our findings showed that acknowledgment of organizational tensions was widespread in the Australian forestry and wood-products industry and not limited to those managers who are effective at managing corporate sustainability. What differed was the degree to which managers did something about the perceived tensions—with the effective group more consistently acting to manage and resolve paradoxical scenarios. Our findings suggest that existing theoretical constructs of tension management may not adequately capture the individual-level complexity involved with managing tensions in practice. (shrink)

This article contextualises current debates over human rights and transnational corporations. More specifically, we begin by first providing the background to John Ruggie's appointment as 'Special Representative of the Secretary-General on the issue of human rights and transnational corporations and other business enterprises'. Second, we provide a brief discussion of the rise of transnational corporations, and of their growing importance in terms of global governance. Third, we introduce the notion of human rights, and note some difficulties associated therewith. Fourth, we (...) refer to Ruggie's scholarly work on 'embedded liberalism', the 'global public domain' and 'social constructivism'. Following this, we refer to the other five papers contained in this "Journal of Business Ethics" special issue, 'Spheres of Influence/Spheres of Responsibility: Multinational Corporations and Human Rights', and consider some of the potential obstacles to Ruggie's recent suggestion that a 'new consensus' has formed, or is forming, around his 'Protect, Respect and Remedy' framework. We conclude by raising questions regarding the processes of consensus-building around, and the operationalisation of, Ruggie's 'Protect, Respect and Remedy' framework. (shrink)

Why do forces compose according to the parallelogram of forces? This question has been controversial; it is one episode in a longstanding, fundamental dispute regarding which facts are not to be explained dynamically. If the parallelogram law is explained statically, then the laws of statics are separate from and “transcend” the laws of dynamics. Alternatively, if the parallelogram law is explained dynamically, then statical laws become mere corollaries to the dynamical laws. I shall attempt to trace the history of this (...) controversy in order to identify what it would be for one or the other of these rival views to be correct. I shall argue that various familiar accounts of natural law not only make it difficult to see what the point of this dispute could have been, but also improperly foreclose some serious scientific options. I will sketch an alternative account of laws that helps us to understand what this dispute was all about. (shrink)

It has often been argued that Humean accounts of natural law cannot account for the role played by laws in scientific explanations. Loewer (Philosophical Studies 2012) has offered a new reply to this argument on behalf of Humean accounts—a reply that distinguishes between grounding (which Loewer portrays as underwriting a kind of metaphysical explanation) and scientific explanation. I will argue that Loewer’s reply fails because it cannot accommodate the relation between metaphysical and scientific explanation. This relation also resolves a puzzle (...) about scientific explanation that Hempel and Oppenheim (Philosophy of Science 15:135–75, 1948) encountered. (shrink)

Conflicts of interest are rampant in the American medical community. Today it is not uncommon for doctors to refer patients to clinics or labs in which they have a financial interest (40% of physicians in Florida invest in medical centers); for hospitals to offer incentives to physicians who refer patients (a practice that can lead to unnecessary hospitalization); or for drug companies to provide lucrative give-aways to entice doctors to use their "brand name" drugs (which are much more expensive than (...) generic drugs). In Medicine, Money and Morals, Marc A. Rodwin draws on his own experience as a health lawyer--and his research in health ethics, law, and policy--to reveal how financial conflicts of interest can and do negatively affect the quality of patient care. He shows that the problem has become worse over the last century and provides many actual examples of how doctors' decisions are influenced by financial considerations. We learn how two California physicians, for example, resumed referrals to Pasadena General Hospital only after the hospital started paying $70 per patient (their referrals grew from 14 in one month to 82 in the next). As Rodwin writes, incentives such as this can inhibit a doctor from taking action when a hospital fails to provide proper service, and may also lead to the unnecessary hospitalization of patients. We also learn of a Wyeth-Ayerst Labs promotion in which physicians who started patients on INDERAL (a drug for high blood pressure, angina, and migraines) received 1000 mileage points on American Airlines for each patient (studies show that promotions such as this have a direct effect on a doctor's choice of drug). Rodwin reveals why the medical community has failed to regulate conflicts of interest: peer review has little authority, state licensing boards are usually ignorant of abuses, and the AMA code of ethics has historically been recommended rather than required. He examines what can be learned from the way society has coped with the conflicts of interest of other professionals --lawyers, government officials, and businessmen--all of which are held to higher standards of accountability than doctors. And he recommends that efforts be made to prohibit and regulate certain kinds of activity (such as kickbacks and self-referrals), to monitor and regulate conduct, and to provide penalties for improper conduct. Our failure to face physicians' conflicts of interest has distorted the way medicine is practiced, compromised the loyalty of doctors to patients, and harmed society, the integrity of the medical profession, and patients. For those concerned with the quality of health care or medical ethics, Medicine, Money and Morals is a provocative look into the current health care crisis and a powerful prescription for change. (shrink)

Structural requirements of rationality prohibit various things, like having inconsistent combinations of attitudes, having means-end incoherent combinations of attitudes, and so on. But what is the distinctive feature of structural requirements of rationality? And do we fall under an obligation to be structurally rational? These issues have been at the heart of significant debates over the past fifteen years. Some philosophers have recently argued that we can unify the structural requirements of rationality by analyzing what is constitutive of our attitudes (...) (Lee, 2020; Worsnip, 2018a). It has also been suggested that, in the course of good first-personal deliberation, agents should treat structurally irrational combinations of attitudes as off-limits (Worsnip, 2021). In this paper, I raise a worry for these two theses concerning structural rationality. Roughly, I argue that some imperfect epistemic agents (like us) can be disposed to have structurally irrational combinations of attitudes. Also, when these imperfect agents deliberate, they should not treat structurally irrational combinations of attitudes as off-limits. Given our imperfections, being structurally irrational can very well be the best option we have. More generally, these observations reveal that structural rationality should not always be theorized independently from more “substantive” norms, like responsiveness to reasons or expected value optimization. (shrink)

The article « La Défenestration » by Belgian philosopher Marc Richir has been translated into Russian for the first time for this issue of the “Horizon. Studies in Phenomenology.” In his early work “The Defenestration” Richir raises the question of relation between the subject and conceivable world. Here, a philosopher is pictured contemplating the world through the window of his tower. In such detachment from the world the thinker finds himself according to all Modern philosophies of consciousness. Husserl’s phenomenology (...) inherits this detachment, since Husserl imposes the structure of transcendental ego as external to the world. Richir abolishes the concept of transcendental ego with the help of heideggerian Dasein, but analyzing Heidegger’s ontology he comes to the conclusion that the latter remains fixated on beings. Believing a person to live in the fundamental openness of Being, Heidegger places such a person in the secondary world of “truth.” In order to overcome the remains of traditional philosophy in Heidegger’s ontology Richir turns to Merleau-Ponty’ “cosmology of the visible.” The author takes the Merleau-Ponty’s thesis that everything visible has something fundamentally invisible in it. This allows him to discover the universe of “nothing”, which includes both the visible and what is “behind” it. As a result Richir overcomes the classical dualism of the sensual and the intelligible. The concept of defenestration places the subject and the world in the same universe. (shrink)

This paper argues that there is a conflict between two theses held by John McDowell, namely i) the claim that we are under a standing obligation to revise our beliefs if reflection demands it; and ii) the view that veridical experience is a mode of direct access to the world. Since puts no bounds on what would constitute reasonable doubt, it invites skeptical concerns which overthrow. Conversely, since says that there are some experiences which we are entitled to trust, it (...) undermines the prescriptive scope of. Drawing on C. S. Peirce's distinction between genuine and contrived doubt, I maintain that critical revisions of beliefs should be triggered only by unwanted disruptions of habits, thereby restoring unity between McDowell's two theses. (shrink)

What altered states of consciousness—the dissolution of feelings of time and self—can tell us about the mystery of consciousness. During extraordinary moments of consciousness—shock, meditative states and sudden mystical revelations, out-of-body experiences, or drug intoxication—our senses of time and self are altered; we may even feel time and self dissolving. These experiences have long been ignored by mainstream science, or considered crazy fantasies. Recent research, however, has located the neural underpinnings of these altered states of mind. In this book, neuropsychologist (...) Marc Wittmann shows how experiences that disturb or widen our everyday understanding of the self can help solve the mystery of consciousness. Wittmann explains that the relationship between consciousness of time and consciousness of self is close; in extreme circumstances, the experiences of space and self intensify and weaken together. He considers the emergence of the self in waking life and dreams; how our sense of time is distorted by extreme situations ranging from terror to mystical enlightenment; the experience of the moment; and the loss of time and self in such disorders as depression, schizophrenia, and epilepsy. Dostoyevsky reported godly bliss during epileptic seizures; neurologists are now investigating the phenomenon of the epileptic aura. Wittmann describes new studies of psychedelics that show how the brain builds consciousness of self and time, and discusses pilot programs that use hallucinogens to treat severe depression, anxiety, and addiction. If we want to understand our consciousness, our subjectivity, Wittmann argues, we must not be afraid to break new ground. Studying altered states of consciousness leads us directly to the heart of the matter: time and self, the foundations of consciousness. (shrink)

Some mathematical proofs explain why the theorems they prove hold. This paper identifies several challenges for any counterfactual account of explanation in mathematics (that is, any account according to which an explanatory proof reveals how the explanandum would have been different, had facts in the explanans been different). The paper presumes that countermathematicals can be nontrivial. It argues that nevertheless, a counterfactual account portrays explanatory power as too easy to achieve, does not capture explanatory asymmetry, and fails to specify why (...) certain proofs are explanatory and others are not. Greater informativeness about counterfactual dependence can even yield less explanatory power. (shrink)

A number of authors argue that while species are evolutionary units, individuals and real entities, higher taxa are not. I argue that drawing the divide between species and higher taxa along such lines has not been successful. Common conceptions of evolutionary units either include or exclude both types of taxa. Most species, like all higher taxa, are not individuals, but historical entities. Furthermore, higher taxa are neither more nor less real than species. None of this implies that there is no (...) distinction between species and higher taxa; the point is that such a distinction is more subtle than many authors have claimed. (shrink)

Norms have been widely enacted in human and agent societies to regulate individuals’ actions. However, although legislators may have ethics in mind when establishing norms, moral values are only sometimes explicitly considered. This paper advances the state of the art by providing a method for selecting the norms to enact within a society that best aligns with the moral values of such a society. Our approach to aligning norms and values is grounded in the ethics literature. Specifically, from the literature’s (...) study of the relations between norms, actions, and values, we formally define how actions and values relate through the so-called value judgment function and how norms and values relate through the so-called norm promotion function. We show that both functions provide the means to compute value alignment for a set of norms. Moreover, we detail how to cast our decision-making problem as an optimisation problem: finding the norms that maximise value alignment. We also show how to solve our problem using off-the-shelf optimisation tools. Finally, we illustrate our approach with a specific case study on the European Value Study. (shrink)

Freedom and compassion in the anthropocene -- Can science save animals? -- Who we eat -- Fat rats and lab cats -- Charismatic, caged, and occasionally crazy: zooed animals -- Captive and companion -- Born to be wild? -- Coexistence in the anthropocene and beyond: compassion and justice for all.

This chapter contains section titled: Introduction The Ontological Nature of Species Taxonomic Pluralism Two Major Schools of Biological Taxonomy The Linnaean Hierarchy References Further Reading.

This chapter contains section titled: Is Biology Like Physics? Laws of Nature: The Standard Picture Why Not Laws of Biology? The Problem of Exceptions Why Not Laws of Biology? The Problem of Accidentalness A Worked Example: The “Area Law” Evolutionary Accidents as Laws of Functional Biology References Further Reading.

Marc Hauser puts forth the theory that humans have evolved a universal moral instinct, unconsciously propelling us to deliver judgments of right and wrong independent of gender, education, and religion. Combining his cutting-edge research with the latest findings in cognitive psychology, linguistics, neuroscience, evolutionary biology, economics, and anthropology, Hauser explores the startling implications of his provocative theory vis-à-vis contemporary bioethics, religion, the law, and our everyday lives.

The expression “République des lettress” is still used today. It appears in most recent dictionaries of the French language, and it even occasionally occurs in ordinary conversation or in the press, a pompous and ironic circumlocution to designate the Parisian literary “milieu.” This archaistic and pejorative survival masks (somewhat similarly to the word “rhetoric”) the attention that researchers are now according to the older meaning of this surviving expression, and to the concept of an international exchange of ideas that it (...) represented for scholars of the Ancien Régime. As proof that this scientific interest is recent, Paul Hazard, in the famous Crise de la conscience européenne (1936), devotes not a single line to the “Republic of Letters,” while in the chapter dealing with Pierre Bayle he cites the “Nouvelles de la République des Lettres” (1684), the learned periodical published in Amsterdam by this erudite Calvinist, apparently without feeling a need to explain a title that seemed self-evident. For the history of ideas, this notion was not a subject for history. It resided outside the field of perception of a discipline that was completely devoted to a sort of chemistry of pure ideas, removed from the literary form that carried them, and a fortiori from institutional circuits, and forms of sociability and dialogue that “invent” and spread them, and even more so from the awareness that “scholars” might have had of the solidarity that united them and of the meaning they might be able to attribute to it. (shrink)

Models of cognitive vulnerability claim that depressive symptoms arise as a result of an interaction between negative affect and cognitive reactions, in the form of dysfunctional attitudes and negative inferential style. We present a model that complements this approach by focusing on the appraisal processes that elicit and differentiate everyday episodes of emotional experience, arguing that individual differences in appraisal patterns can foster negative emotional experiences related to depression. In particular, dispositional appraisal biases facilitating the elicitation of these emotions more (...) frequently and more intensely. This, in turn, is likely to have a negative influence on cognitive processing and emotion regulation in general. (shrink)

“Je doute qu'il y ait un dialogue de la chenille et du papillon”A. MatrauxThe most ordinary events astonish only those who think about them. What can be more natural than two people talking? They are from the same country, they speak the same language, they understand one another. They have things to say to each other and they say them. Anyone who would try to question such evident truisms would be seen as attempting to be a spinner of paradoxes. And (...) yet…First of all is it as natural as it appears that two people should stop and speak? To an impartial observer of the behavior of one's peers this would not seem to be the case. Most of the people we rub elbows with daily—in the street, in the subway, on a beach, in a hotel or even in the apartment building where we have lived for ten years—are people whom we do not accost and to whom we never speak. In order for people to speak to one another, certain circumstances must exist; there must be a ritual of introduction and a mutual consent that often occurs only after a certain resistance has been overcome. There are important differences to be observed in this respect among different peoples and, within the same nation, among people of different classes. But in every case dialogue is preceded by a preparatory phase of prudent observation, reserve and mistrust during which the partners size one another up and seek to situate themselves in relation to each other. (shrink)

Jordan Peterson gave a series of lectures on the Psychological Significance of the Biblical Stories. His first lecture lasted two hours. In that time, Peterson managed to cover only a single line from the Bible. This lopsided gloss-to-text ratio, I argue, entails that the rational explanations actually do all the work while the Bible is dispensable.

Our ability to acknowledge and recognise our own identity - our 'self' - is a characteristic doubtless unique to humans. Where does this feeling come from? How does the combination of neurophysiological processes coupled with our interaction with the outside world construct this coherent identity? We know that our social interactions contribute via the eyes, ears etc. However, our self is not only influenced by our senses. It is also influenced by the actions we perform and those we see others (...) perform. Our brain anticipates the effects of our own actions and simulates the actions of others. In this way, we become able to understand ourselves and to understand the actions and emotions of others. -/- This book is the first to describe the new field of 'Motor Cognition' - one to which the author's contribution has been seminal. Though motor actions have long been studied by neuroscientists and physiologists, it is only recently that scientists have considered the role of actions in building the self. How consciousness of action is part of self-consciousness, how one's own actions determine the sense of being an agent, how actions performed by others impact on ourselves for understanding others, differentiating ourselves from them and learning from them: these questions are raised and discussed throughout the book, drawing on experimental, clinical, and theoretical bases. -/- The advent of new neuroscience techniques, like neuroimaging and direct electrical brain stimulation, together with a renewal of behavioral methods in cognitive psychology, provide new insights into this area. Mental imagery of action, self-recognition, consciousness of actions, imitation can be objectively studied using these new tools. The results of these investigations shed light on clinical disorders in neurology, psychiatry and in neuro-development. -/- This is a major new work that will lay down the foundations for the field of motor cognition. (shrink)

Author Marc James Léger responds to Elias Khoury’s review of his book _Bernie Bros Gone Woke: Class, Identity, Neoliberalism_, which was published in volume 17 of the _International Journal of __Žižek Studies_. While Léger accepts the one mistake in the book that Khoury correctly identifies, he takes issue with nearly everything else in Khoury’s review, which involves fallacies, misquotations, reductive arguments, misdirection and failure to mention anything that would contradict Khoury’s generally false claims. Léger describes the possibility of academic (...) foul play in the context of a public secret directed against him and that he has been struggling against since the late 1990s. (shrink)

L’ouvrage qu’on va lire se veut être une fondation transcendantale des logiques développementales (essentiellement celle de Lesniewski). Une telle démarche n’a jamais été tentée. Pour ce faire, il a fallu remonter aux sources immanentes de la Critique de la Raison Pure et de son architectonique. L’auteur a ainsi produit une apparence ontologique correspondant à l’ontologie du logicien polonais. Pour saisir la portée des définitions de la vérité et de l’objet, Marc Peeters convoque quatre concepts : la discrépance, le simulacre, (...) la reprise et l’historicité transcendantale. Ces concepts et les principes qui les régissent servent à repenser la logique chez Kant et à poser la question renouvelée, historique et logique, de la métaphysique. (shrink)