Governing boards utilize executive compensation contracts in an attempt to align executive actions with corporate goals. The objective is to ensure that executive performance provides value to the organization in terms of successful outcomes. A key performance criteria typically specified in CEO compensation contracts is earnings targets. However, using earnings as a performance evaluation may be problematic because some firms exhibit robust and sustained earnings over time (high earnings persistence), and other firms, such as high growth oriented firms, exhibit weak (...) or sometimes negative earnings over time (low earnings persistence). Our study reveals that the effect of high earnings persistence results in firms that focus more heavily on cash compensation (salary and bonus) rather than on equity compensation (stock options, etc.) to compensate executive performance. Additionally, for firms characterized by low earnings persistence, our study indicates that cash flows from operations act as a supplementary performance measure to accounting earnings, and become increasingly important as a means to justify executive cash compensation. (shrink)
This book argues that Whitehead’s introduction of God into his process metaphysics renders it incoherent. Replacing roles assigned to God with the powers inherent in finite entities, George Allan recovers a coherent presentation of the truth of time’s primacy, using Whitehead’s major writings.
The Sovereignty of Law presents Trevor Allan's most recent and fully elaborated defence of common law constitutionalism - an account of the unwritten or non-codified constitution as a complex articulation of legal and moral principles, defining what in the British context are the requirements of the rule of law. The British constitution is conceived as a coherent set of fundamental principles of the rule of law, legislative supremacy, and separation of powers. These principles.
Following strict rules of interpretation, this book focuses on the ideas in Plato's early and middle dialogues that lie within the fields now called logic and methodology, specifically elenchus and dialectic and the method of hypothesis.
The engineer Kirillov, a major character in Dostoevsky's 'Demons', has provoked considerable critical disagreement. In 'The Myth of Sisyphus', Albert Camus argues that he expresses the theme of ‘logical suicide’ with ‘the most admirable range and depth’. Some recent commentators, however, have dismissed Kirillov as a madman in the grip of a mad theory. -/- While dissenting from Camus’s analysis in certain respects, this article offers an interpretation consistent with his basic argument. Kirillov’s suicide is based on a simple, if (...) implacable, logic which convinces him that as long as he kills himself for the right reason, his death will be an act of redemption for all humanity. Kirillov is a wholly ‘metaphysical’ character – one of the earliest in modern fiction – whose ambition to become the ‘man-god’ is explored by Dostoevsky to its ultimate, desolate conclusion. (shrink)
This paper sets out to assess the internal coherence of Roy Bhaskar's transcendental realist account of science. Whilst fully supporting his transcendental derivation of a stratified ontology of structures and generative mechanisms from the scientific practice of experimentation, I argue that Bhaskar's adoption of the stance of epistemic relativism results in his inability to defend the generalizability of this ontology. My argument against his epistemic stance turns on the fact that it rests on a false dichotomy between epistemic relativism and (...) epistemic absolutism, and, moreover, that it is quite unnecessary for his efforts to avoid the excesses of epistemological foundationalism. The net result of this stance, in my view, is an inability to sustain the normative force of the concepts of truth and scientific explanation precisely at a time when postmodern authors are denying their privileged status. (shrink)
In our paper we attempt an examination of Hume's positive contributions to the problem of personal identity. In contrast to Penelhum, smith and others, we argue that Hume can and does make sense of the identity of persons through time, but that this identity is not perfect in nature. We argue that Hume presents a logical construction theory of the self. We explain how such a view accounts for our identity and individuality and why it conforms to the empiricist approach.
Whitehead’s process metaphysics, as developed in Process and Reality, is harmed by the incoherence of his notion of eternal objects as timeless and essentially unrelated entities, which therefore need a primordial agent as their ontological ground and the source of their relatedness and relevance. Such nontemporal entities undermine what is supposed to be a thoroughly temporalist metaphysics. Eternal objects can be understood solely as functions of Creativity, however, as features of a purely temporal process. A notion of God is not (...) required. Whitehead’s Categoreal Obligations specify the necessary conditions for this process, including how the novelty is possible that is needed to account for temporal change and the increased complexity that value enhancement presupposes and makes possible. Adventures of Ideas, especially through the notions of Art and Peace, develops at the level of human civilization this same secular interpretation of the capacity of entities to fashion novel and progressive outcomes. (shrink)
Modern critics often regard Goya's etchings and black paintings as satirical observations on the social and political conditions of his times. In a study of Goya first published in 1950, which seldom receives the attention it merits, the French author and art theorist André Malraux contends that these works have a much deeper significance. The etchings and black paintings, Malraux argues, represent a fundamental challenge to the humanist artistic tradition that began with the Renaissance - a tradition founded on the (...) pursuit of a transcendent world of nobility, harmony and beauty. Following an illness that left him deaf for life, Goya developed an art of a fundamentally different kind - an art, Malraux writes, ruled by ‘the unity of the prison house’ which replaced transcendence with a pervasive feeling of dependence and from which all trace of humanism has been erased. Foreshadowing modern art's abandonment of the Renaissance ideal, the etchings and black paintings are the first announcement of the death of beauty in Western art. (shrink)
Examines Malraux's account of the creative process in art, discusses a misreading of Malraux by Merleau-Ponty, and highlights shortcomings in certain "analytic aesthetics" accounts of the creative process.
JEAN-PAUL SARTRE in the Critique de la raison dialectique, develops a theory of praxis which extends the anthropology of L'être et le néant while simultaneously claiming to correct and complete Marxism. Central to Sartre’s argument are two assertions: that dialectic is fundamental to human action, and that all historical development is rooted in the praxis of individual persons. These twin assertions, by insisting upon the existential element in social change, do not merely correct Marxism. They fundamentally alter it. In affirming (...) the dialectical structure of praxis, Sartrean Marxism is compelled to deny a dialectic of history. It modifies the Marxian dialectic by radically constricting its scope, denying a becoming of the dialectic by insisting upon a dialectic of becoming. (shrink)
Although a conventional environmentalism focuses on the health of ecological systems, Pope Francis’s 2015 environmental encyclical Laudato Sí invokes St. Francis of Assisi to emphasize God’s love for the individual organism, no matter how small. Decrying the tendency to regard other creatures as mere objects to be controlled and used, Pope Francis urges our enactment of a ‘universal communion’ governed by love. I suggest, however, that Laudato Sí’s animal ethic, as focused on ordering human and animal need, is inadequate to (...) its overarching vision of cross-species communion. This vision requires the sort of cross-species relational bridge implicit in Maurice Merleau-Ponty’s view of agency as an irreducibly ‘animate’ expression of choice and afforded further definition in Kenneth J. Shapiro’s conception of a ‘kinesthetic empathy.’ As the phenomenological epistemology underlying both discourses makes possible a rough correspondence, I put these in conversation to demonstrate that a Merleau-Pontyan and reciprocal agency is a constitutive aspect of the fullest sort of cross-species relation, such that recognition of this agency can both deepen our understanding of ‘universal communion’ and foster engagement in its practice. (shrink)
A Distinction of four species of tragedy and epic poetry is laid down, though not explained at length, in two passages of the Poetics, and, as I hope to show, mentioned in another. At the end of the treatise, Aristotle positively says that he has given an explanation of both the species and the component parts of tragedy and epic poetry.