This Article investigates the determinants of dividend policy in firms with concentrated ownership structures. A review of the empirical literature shows that dividend payout ratios are lower in firms with controlling shareholders. We explain this finding as a consequence of the legal rules governing cash distributions, which leave the dividend decision in the hands of the firm insiders, and the lack of monitoring mechanisms for checking the power of controlling shareholders. The analysis of the empirical evidence on dividend policy points (...) to the existence of an unresolved agency conflict between controlling shareholders and outside investors. We conclude that controlling shareholders are currently using the dividend policy to expropriate minority shareholders. (shrink)
Este artículo trabaja con el concepto de juventud aceptado dentro de la sociología y la psicología social y lo lleva a un contexto concreto, la sociedad chilena. El concepto se modifica a partir de una serie de mecanismos de carácter negativo y se crea un particular imaginario social. Ese imaginario social representa a los jóvenes, en la mayoría de los casos, como un sector marginal y conflictivo de la sociedad. El análisis este universo social, legitimado por la familia, los medios (...) de comunicación y otras agencias de socialización, resulta indispensable para comprender la situación y buscar alternativas.This article works with the concept of youth accepted inside the sociology and the social psychology and takes it to a concrete context, the Chilean society. The concept is modified from a series of mechanisms of negative character and there is created an imaginary social individual. This imaginary social one represents the young men, in the majority of the cases, as a marginal and troubled sector of the society. The analysis of this social universe, legitimized by the family, the mass media and other agencies of socialization, turns out to be indispensable to understand the situation and to look for alternatives. (shrink)
Immigration, one of the most important contemporary phenomena, coupled with political and social factors that generate a series of imaginary social around the immigrant's own transit and immigration. This essay intends to approach the issue from a comprehensive perspective, analyzing the pillars of the host society, while giving prominence to the vision of an immigrant. To do so, it addresses the characteristics of the process, the definition of social imaginary, the elements of conflict and risk endured by the immigrant, the (...) construction of ethnic identity, the quest for new imaginary, associations as imaginary spaces emerging, the role of the state. (shrink)
Este artículo introduce el tema del Software Libre, de gran vigencia sobre todo en Internet. Desde un enfoque sociológico, muestra la importancia del conocimiento tecnológico en nuestras sociedades, y señala los retos principales que todos debemos afrontar para que ese conocimiento tecnológico sea auténticamente democrático. Una misión en la que el Software Libre, como herramienta y como movimiento social, tiene un papel protagonista.This article introduces the topic of the Free Software, of great force especially in Internet. From a sociological approach, (...) it shows the importance of the technological knowledge in our societies, and indicates the principal challenges that we all must confront in order that this technological knowledge is authentic democratic. A mission in which the Free Software, as tool and as social movement, has a role protagonist. (shrink)
The focus is on the meaning of ὑπόϑεσις in Irenaeus of Lyons’ Adversus haereses. Our case is to argue that two different elements converge in ὑπόϑεσις or its translations in the Latin version of AH. The first stems from the Greek literary field, in which ὑπόϑεσις means the “subject” or “plot” of a dramatic or poetic composition. The second is related to the philosophical meaning of ὑπόϑεσις as “that which is placed under” or “foundation”. On the one hand, Irenaeus uses (...) ὑπόϑεσις theologically to express the plot of the historia salutis, so that the term can be understood as teaching or doctrine. On the other hand, this ὑπόϑεσις is at the same time a regula, the normative foundation of all the elements that take part in God’s economy of salvation. (shrink)
This paper focuses on the extension of AGM that allows change for a belief base by a set of sentences instead of a single sentence. In [FH94], Fuhrmann and Hansson presented an axiomatic for Multiple Contraction and a construction based on the AGM Partial Meet Contraction. We propose for their model another way to construct functions: Multiple Kernel Contraction, that is a modification of Kernel Contraction, proposed by Hansson [Han94] to construct classical AGM contractions and belief base contractions. This construction (...) works out the unsolved problem pointed out by Hansson in [Han99, pp. 369]. (shrink)
Rips et al. claim that the principles underlying the structure of natural numbers cannot be inferred from interactions with the physical world. However, in their target article they failed to consider an important source of interaction: finger counting. Here, we show that finger counting satisfies all the conditions required for allowing the concept of numbers to emerge from sensorimotor experience through a bottom-up process.
Different theoretical approaches highlight the growing relevance of corporate reputation as strategic factor. Among these approaches the arguments of the Resource-Based View are special worthwhile (Grant, 1991, California Management Review 33(3), 114–135; Barney, 1999, Sloan Management Review Spring, 137–145). Nevertheless, this topic poses several methodological problems (Barney et al., 2001), as the unavailability to identify and measure this organizational factor, that is “socially complex” and intangible in its nature. In this work, using the findings of our empirical research on Spanish (...) biotechnology firms, we carry out an identification and measurement of corporate reputation, highlighting its two key components: “business reputation” and “social reputation”. (shrink)
This article integrates previously missing components of government quality into the governance-piracy nexus in exploring governance mechanisms by which global obligations for the treatment of IPRs are effectively transmitted from international to the national level in the battle against piracy. It assesses the best governance tools in the fight against piracy and upholding of intellectual property rights (IPRs). The instrumentality of IPR laws (treaties) in tackling piracy through good governance mechanisms is also examined. Findings demonstrate that: (1) while all governance (...) tools under consideration significantly decrease the incidence of piracy, corruption-control is the most effective weapon; (2) but for voice and accountability, political stability and democracy, IPR laws (treaties) are instrumental in tackling piracy through government quality dynamics of rule of law, regulation quality, government effectiveness, corruption-control, and press freedom. Hence, the need for a policy approach most conducive to expanding development is to implement an integrated system of both IPRs and corollary good governance policies. Moreover, our findings support the relevance of good governance measures in developing countries wishing to complement their emerging IPR regimes. (shrink)
With his massive redeployment hypothesis (MRH), Anderson claims that novel cognitive functions are likely to rely on pre-existing circuits already possessing suitable resources. Here, we put forward recent findings from studies in numerical cognition in order to show that the role of sensorimotor experience in the ontogenetical development of a new function has been largely underestimated in Anderson's proposal.
This paper offers a comparison between the aristocratic radicalism of Nietzsche and that of the Colombian philosopher, Nicolás Gómez Dávila, in order to point out their points of contact and their differences. This leads to the analysis of the uneven reception of their ideas, which at the same time ..
We review and discuss A. H. Louie’s book “More than Life Itself: A Reflexion on Formal Systems and Biology” from an interdisciplinary viewpoint, involving both biology and mathematics, taking into account new developments and related theories.
Cohen Kadosh & Walsh (CK&W) argue that recent findings challenge the hypothesis of abstract numerical representations. Here we show that because, like many other authors in the field, they rely on inaccurate definitions of abstract and non-abstract representations, CK&W fail to provide compelling evidence against the abstract view.
La figura del payaso ha pasado por diferentes momentos y lecturas históricas, lo que permite considerarla como una figura arquetípica. Su papel en la sociedad históricamente fue el del ridículo, objeto de risas, pero el payaso no sólo es un ser congruente, auténtico y valiente, sino que también pued..
Ya la ironía socrática dijo que la filosofía no progresaba porque se ocupaba siempre de los mismos asuntos; el saber filosófico, asediado por la cuestión de su legitimidad, muestra su capacidad regenerativa volviendo siempre sobre sus fundamentos histórico-conceptuales. De ahí que quien intente defi..
There are important cases where properties not referred to by expressions from the languages of physics are enabled in certain times and circumstances to get causal control over some kinds of physical events. I will argue that in those cases we would have to transfer to those properties the causal sufficiency to bring about these events. This would offer a principle of causal inheritance in sharp contrast with the inheritance principle for the causal sufficiency of second order properties defended by (...) Jaegwon Kim in his recent discussion of the causal exclusion problem concerning mental properties. The two principles would be very different. Their domains of application would be distinct. Kim's principle would transfer causal sufficiency to the more "concrete" physical properties able to realize mental properties understood as second order properties. Our principle would transfer causal sufficiency to the more "general" properties able to cause the relevant physical effects in the times and circumstances in question. That way, it would be possible to give a quite simple answer to the problem of causal exclusion posed by Kim in relation to mental properties. Our approach also would have very important consequences in relation to ordinary macrophysical causation. (shrink)
Se analiza en este estudio, las implicaciones que para el campo de la ética filosófica comporta el desarrollo de algunas de las investigaciones científicas en el campo de las neurociencias. El organismo humano nunca disocia de manera tajante la razón práctica de la teórica y, por tanto, las dimensio..
In contrast with the development of big theories in the context of social sciences, there is nowadays an increasing interest in the construction of simulation models for complex phenomena. Those simulation models suggest a certain image of social sciences as a kind of, let us say, "patchwork". In that image, an increase in understanding about the phenomena modeled is obtained through a certain sort of aggregation. There is not an application of sound, established theories to all the phenomena of a (...) certain kind, but an aggregation of the structures supposed, and of the results obtained, when particular systems are modeled. The recent case of the "El Farol Bar" problem, and the models built in order to face this problem, are a good example of this. We will analyze that case, trying to make clear what would be implied by the image above mentioned. Special attention will be paid to the need to take seriously the notion of a bounded rationality, linked to the special circumstances generating each decision problem, and to the existence of an irreducible pluralism of models. (shrink)
Mo der nity´s analy ti cal and re duc tio nist thin king of fe red us a uni vo cal and uni ver sa list re pre sen ta tion of the World. Scien ti fic ob jec ti - vity clo sed the ac cess to the di ver sity and plu ra - lity of ot her pos si ble know led ges. The epis te mo - lo gi cal cri ti cis..
Misuse or misunderstanding of medication information is a common and costly problem in the U.S. The risks of misunderstanding medication information are compounded for the large and growing population of individuals with limited English proficiency that often lacks access to this information in their own language. This paper examines practices related to translation of medication information in the European Union that may serve as a model for future U.S. policy efforts to improve the quality and availability of medication information for (...) individuals with limited English proficiency. (shrink)
Estudiamos en este artículo la evolución de los valores de la polis griega, desde sus más remotos antecedentes (Homero) hasta su máximo esplendor que coincide con el enfrentamiento entre los sofistas y Platón.