In this article we compare the experiences of women members of the board of directors of U.S. and Norwegian corporations. Based on the personal stories of two women directors from each country, we discuss similarities and differences in the role and characteristics of women corporate directors and the processes and behaviours they are involved in as directors within and outside the boardroom. We also investigate the role of gender-related dynamics in these two countries, focusing on board roles and (...) processes, and the visible and invisible board structures with which women corporate directors contend. (shrink)

AbstractBoardroom backscratching, or cronyism, is an unethical practice where CEOs conspire with directors to receive remuneration beyond performance- and market-related factors. Premised on the theory of planned behavior, this study investigates whether CEO generalist experience magnifies the likelihood of boardroom backscratching. Using 9482 firm-year observations spanning 1999–2018, our analysis shows that firms with greater CEO generalist managerial experience are more likely to engage in boardroom backscratching, via both cash- and equity-based compensation. We provide further evidence that backscratching firms (...) with CEOs that possess greater generalist experience tend to overinvest, particularly via non-capital expenditure, as a channel for empire building and private rent extraction. We also find that a higher portion of female independent directors sitting on the board and the compensation committee mitigates the positive relationship between CEO generalist managerial experience and boardroom backscratching, which we attribute to greater ethicality of, and increased monitoring exercised by, female independent directors. (shrink)

This study investigated how female directors of corporate boards of directors (BoD) experience boardroom dynamics. The study represents an initial research trend that moves from a unilateral focus on financial outcomes of female representation in BoDs toward stronger attention on the social dynamics in the boardroom. Drawing on social identity theory, the study proposed that female directors often constitute an out-group within the BoD, preventing them from experiencing positive board dynamics. More specifically, the study explored the extent to (...) which female directors do experience less justice, lower cohesion, and higher levels of conflicts within the BoD than their male counterparts do. Moreover, we assumed that female directors with nontraditional educational backgrounds would be particularly likely to experience negative boardroom dynamics whereas female chairpersons of BoDs would perceive boardroom dynamics more positively than other female directors. The sample consisted of 491 directors from 149 BoDs. Our findings revealed that there were generally few differences in the way female and male directors experienced boardroom dynamics and female chairpersons of BoDs did not perceive the dynamics differently than other female directors. Female directors with nontraditional educational backgrounds perceived the boardroom dynamics somewhat more negatively than other female directors, but the differences were not statistically significant. The conclusions from this study are that there are reasons to believe that female directors are welcomed into boardrooms, not perceived as out-groups, and BoDs are able to benefit from the female directors’ experience and skills. (shrink)

Increasingly, corporations are championing the cause of gender equality and women’s empowerment in the Global South. Tapping into notions about women’s role as caregivers, empowerment promotion is simultaneously meant to lead to family and community development, profitability for those who invest in women and girls and economic growth. While emerging feminist scholarship on this kind of ‘transnational business feminism’ (TBF) (Roberts, 2012, 2015) has largely scrutinised gender governance based on visual and textual materials produced by corporations themselves, this article expands (...) the methodological engagement with TBF by reflecting on how we translated the concept into two distinct field-based research projects. The article compares and contrasts our situated fieldwork experiences, focusing in particular on accessing corporate elites and development partners and the epistemological rifts that emerged in conversations with them. It documents how our experiences of blockages, hostile relations and miscommunications have shaped our critical feminist research, and points to some of the power relations at work within TBF. (shrink)

Market participants continue to demand greater transparency from boards of directors, yet little is known about the effect of increased transparency on director decisions. Using a sample of practicing board members, our first experiment provides evidence that increased transparency via disclosure may license directors to make more biased decisions. Guided by rich insights provided by these directors, we examine whether considering a company’s ethical values can deter disclosure-induced licensing by activating a morality mindset. In two additional experiments, we find that (...) exposure to a code of conduct that includes an ethics component does not mitigate the licensing effects we observed; however, considering a separate, concise ethics statement does mitigate these effects. Our findings highlight important differences between the code of conduct and ethics statement for decision-making which can help organizations to mitigate adverse effects of disclosure. Implications for users of financial information and regulators are also discussed. (shrink)

In the aftermath of scandals such as those at Enron and WorldCom, there is a growing suspicion of the corporate world. For this reason it is more important than ever for firms to maintain a good reputation. In Building Reputational Capital, Kevin T. Jackson offers a practical guide to taking the high road--the only path that leads to lasting success. Based on extensive research and real-world experience, Building Reputational Capital reveals basic principles of integrity and fairness with which firms can (...) build an enduring reputation. More than image, a firm's reputation is a form of capital often neglected in the boardroom and overlooked in conventional analyses of financial statements. Speaking directly to the work experience of real people in practical business settings, Jackson couples each principle with straightforward actions that drive management systems, and he provides tested strategies--from downsizing techniques to e-commerce tips--that cultivate the hidden power of a good reputation. He outlines the advantages of a superior reputation, describes the vital role the firm's leader must play, offers ways to build and protect your reputation on the Internet, and shows how to rescue your reputation once disaster hits. Perhaps most important, he shows how to strike the right balance of virtues like authenticity, honesty, responsibility, and stewardship of the environment, employees, and the economy. Highlighted with real-life success stories--from giants like Hewlett-Packard to small firms like Thanksgiving Coffee Company, Building Reputational Capital offers a simple but effective guide for executives, managers, entrepreneurs, legal professionals, and corporate consultants. (shrink)

Social enterprises combine social and financial goals. Previous studies have theorized the existence of a dual objective and maintain that it can lead to conflicts and create trade-offs. While the literature on trade-offs is extensively developed, empirical evidence is lacking on how the intensity of trade-offs might vary among organizations. We fill the void by investigating the moderating effect of female directorship on the relationship between the social and financial goals of social enterprises. Using data on 1193 microfinance organizations (MFOs) (...) from 108 countries between 2007 and 2019, we find that a high proportion of women in the boardroom attenuates social-financial trade-offs. Further, our results show that the mitigating effect of female directorship on social-financial trade-offs is more pronounced in nonprofit MFOs, in unsubsidized MFOs, in the period since the recent microcredit crisis, and in countries where women are more empowered in terms of access to higher education, leadership positions, and employment opportunities. We attribute our findings to the distinctive skills, competences, and experiences of women, including an ethical social orientation, as well as their transformational and relational leadership style. The findings are supported by predictions based on resource dependence and leadership style theories. (shrink)

In 2003, the Combined Code emphasised two important aspects of Board contribution: the importance of induction for newly appointed Public Limited Company board members, and appropriate training and development for all directors serving on a PLC board and its delegated committees, including the Audit and Remuneration Committees. This paper explores the principles of good induction and re-induction programmes for boards of directors and trustees, and its conclusions draw on the author's previous research on non-executive contribution and her recent experience of (...) reviewing board and committee performance and effectiveness through Boardroom Review. (shrink)

In nearly all aspects of life, humans are crossing lines of no return. Modern science is leading us into vast uncharted territory—far beyond the invention of nuclear weapons or taking us to the moon.Today, in labs all over the world, scientists are performing experiments that threaten to fundamentally alter the practical character and ethical color of our everyday lives. In The End of Life as We Know It, bestselling author Michael Guillen takes a penetrating look at how the scientific community (...) is pushing the boundaries of morality, including: • Scientists who detached the head of a Russian man from his crippled, diseased body, and stitching it onto a healthy new donated body. • Fertility experiments aimed at allowing designer babies to be conceived with the DNA from three or more biological parents. • The unprecedented politicization of science – for example, in the global discussion about climate change that is pitting “deniers” against “alarmists” and inspiring Draconian legislation, censorship, and legal prosecutions. • The integration of Artificial Intelligence into communications and the economy. The End of Life as We Know It takes us into labratories and boardrooms where these troubling advances are taking place and asks the question no scientists seem to be asking: What does this mean for the future of humanity? (shrink)

The drama of life rarely unfolds in majestic settings. Instead, nondescript spaces are more often the stage upon which one's life is lived. What Christine Welch sees as these sometimes modest, sometimes sterile, sometimes pretentious rooms are often dismissed or overlooked by their occupants, even when transformative encounters and events occur within their walls. Commonplace, a powerful new work of photography, provokes greater appreciation for these common spaces of everyday American life, as it captures their quiet power and subtle beauty (...) in evocative images. Whether she photographs the food-stained living room of a fraternity house, the dimly lit booth in a local café, or the cool sleekness of a corporate boardroom, Welch captures the poignancy of common spaces and the meaning they hold in our contemporary society. The unpopulated images in her book are blank canvases on to which readers can project the particulars of their own experiences. Commonplace helps us redefine and rediscover those spaces too common for preservationists to save, yet too vital to the emotional fabric of American life to pass over. (shrink)

We examine the influences of social capital, source credibility, and fairness perceptions on the judgments of experienced compensation committee members who are considering a proposal to reduce management’s performance targets in the middle of a compensation cycle due to difficult circumstances. Eighty-nine U.S. public company CC members participated in a 2 × 2 experiment with social capital and source credibility each manipulated as low or high, and outcome fairness to management, process fairness to shareholders, and outcome fairness to shareholders included (...) as measured variables. While social capital and source credibility are not significant, we find that outcome fairness to the CEO and outcome fairness to shareholders are significantly related to CC members’ support for reducing performance targets during a compensation cycle. In addition, we find that more experienced CC members are less supportive of changing the performance targets. The significant interactions include one between outcome fairness to shareholders and process fairness to shareholders, which suggests that CC member support for the proposal relies on both process and outcome fairness being present. Finally, the participants’ qualitative responses reflect arguments both for and against adjusting performance targets. Overall, the results highlight the important roles of fairness and director experience in boardroom decisions and provide important insights into factors affecting CC judgments. (shrink)

In this paper, we seek to answer two questions: (1) what does boardroom diversity stand for in the strategic management literature? And, (2) is there a significant relationship between boardroom diversity and corporate social performance. We first clarify the boardroom diversity concept, distinguishing between a structural diversity of boards and a demographic diversity in boards, and then we investigate its possible linkage to social performance in a sample of S&P500 firms. We find a significant relationship between diversity (...) in boards and social performance. This relationship is moderated by diversity of boards. Our results also reveal the effects of the specific variables that make up the diversity of boards and diversity in boards constructs. In particular, gender, and age have a significant effect on corporate social performance. Some important measurement issues are raised and discussed. (shrink)

This study provides comprehensive evidence on the link between boardroom diversity and reduction of carbon emissions. Analyzing data from a sample of 344 UK-listed non-financial and unregulated firms over the period from 2005 to 2021, our findings indicate that task-oriented (i.e., tenure) and structural (i.e., insider/outsider) board diversity are important for reducing corporate carbon emissions while relational diversity does not appear to be useful. Furthermore, the study explores the role of external carbon governance, such as the Paris Agreement, on (...) firms with weaker internal governance structures. The findings reveal that external governance plays a critical role in curbing emissions when internal governance is not effective. Overall, our research offers valuable insights for management and regulatory bodies on the interplay between various governance mechanisms internal and external to a firm. This knowledge could guide them in determining the right mix and degree of diversity in the boardroom to achieve environmental goals. (shrink)

The under-representation of women on boards is a heavily discussed topic—not only in Germany. Based on critical mass theory and with the help of a hand-collected panel dataset of 151 listed German firms for the years 2000–2005, we explore whether the link between gender diversity and firm performance follows a U-shape. Controlling for reversed causality, we find evidence for gender diversity to at first negatively affect firm performance and—only after a “critical mass” of about 30 % women has been reached—to (...) be associated with higher firm performance than completely male boards. Given our sample firms, the critical mass of 30 % women translates into an absolute number of about three women on the board and hence supports recent studies on a corresponding “magic number” of women in the boardroom. (shrink)

Increasing gender diversity in the boardroom has been promoted as a way to enhance corporate governance and risk management. This study empirically examines whether boards with more female directors play a role in reducing R&D risk. We first show that female directors help to reduce the positive relationship between R&D investment and future performance volatility. We then report that firms with more gender-diverse boards exhibit a lower adverse effect of R&D on the cost of debt. These results are robust (...) to endogeneity analysis, alternative measures of gender diversity and risky investment, and other sensitivity tests. Overall, our results suggest that female directors improve board effectiveness in risk management with respect to R&D investment. (shrink)

The monitoring role performed by the board of directors is an important corporate governance control mechanism, especially in countries where external mechanisms are less well developed. The gender composition of the board can affect the quality of this monitoring role and thus the financial performance of the firm. This is part of the “business case” for female participation on boards, though arguments may also be framed in terms of ethical considerations. While the issue of board gender diversity has attracted growing (...) research interest in recent years, most empirical results are based on U.S. data. This article adds to a growing number of non-U.S. studies by investigating the link between the gender diversity of the board and firm financial performance in Spain, a country which historically has had minimal female participation in the workforce, but which has now introduced legislation to improve equality of opportunities. We investigate the topic using panel data analysis and find that gender diversity – as measured by the percentage of women on the board and by the Blau and Shannon indices – has a positive effect on firm value and that the opposite causal relationship is not significant. Our study suggests that investors in Spain do not penalise firms which increase their female board membership and that greater gender diversity may generate economic gains. (shrink)

The study aims to explore the role of gender diversity in debt financing choices among Chinese listed firms. The study used the Chinese listed firm's data from 1991 to 2022 from the Chinese Stock Market return. The study used the fixed effect regression analysis and revealed that gender diversity positively affects debt financing among Chinese firms. Additionally, mass theory results suggested that at least three females on the board significantly influence firms. It served as the voice of gender diversity to (...) influence the board's decisions regarding debt financing. The study has several theoretical and practical implications. This study will enlighten the Chinese boardroom dynamics by reassuring them to add more females to diversity policies. It will benefit future studies on boardroom activities and debt financing in emerging economies. It will be practical guidance for the Chinese policymakers, governing authorities, and corporate executives. The study stresses the need for significant diversity on the board rather than one female presence on the board. Secondly, this study contradicts the stereotype perception that females are not making risky decisions. (shrink)

I argue that perceptual experience provides us with both phenomenal and factive evidence. To a first approximation, we can understand phenomenal evidence as determined by how our environment sensorily seems to us when we are experiencing. To a first approximation, we can understand factive evidence as necessarily determined by the environment to which we are perceptually related such that the evidence is guaranteed to be an accurate guide to the environment. I argue that the rational source of both phenomenal and (...) factive evidence lies in employing perceptual capacities that we have in virtue of being perceivers. In showing that both kinds of evidence have the same rational source, I provide a unified account of perceptual evidence and its rational source in perceptual experience. (shrink)

We propose a characterization of mathematical experiments in terms of a setup, a process with an outcome, and an interpretation. Using a broad notion of process, this allows us to consider arithmetic calculations and geometric constructions as components of mathematical experiments. Moreover, we argue that mathematical experiments should be considered within a broader context of an experimental research project. Finally, we present a particular case study of the genesis of a geometric construction to illustrate the experimental use of hand drawings (...) and computers in mathematical practice. (shrink)

According to the recent Perceptual Confidence view, perceptual experiences possess not only a representational content, but also a degree of confidence in that content. The motivations for this view are partly phenomenological and partly epistemic. We discuss both the phenomenological and epistemic motivations for the view, and the resulting account of the interface between perceptual experiences and degrees of belief. We conclude that, in their present state of development, orthodox accounts of perceptual experience are still to be favoured (...) over the perceptual confidence view. (shrink)

From religion to philosophy to science, all human systems of definition are formed by human brains. The nature and limits of the human brain are the nature and limits of those systems. This essay shows how the human brain works normally then unusually, and what this reveals about the limits of human knowledge. There are many conditions and instances where the brain processes information unusually, including mental disorders, physical events, and drug use. This essay focuses on the neurological events called (...) mystical experiences. (shrink)

Transfers of critically ill neonates are frequent phenomena. Even though parents’ participation is regarded as crucial in neonatal care, a transfer often means that parents and neonates are separated. A systematic review of the parents’ experiences of neonatal transfer is lacking. This paper describes a meta‐study addressing qualitative research about parents’ experiences of neonatal transfer. Through deconstruction and reflections of theories, methods, and empirical data, the aim was to achieve a deeper understanding of theoretical, empirical, contextual, historical, and (...) methodological issues of qualitative studies concerning parents’ experiences of neonatal transfer over the course of this meta‐study (2000–2017). Meta‐theory and meta‐method analyses showed that caring, transition, and family‐centered care were main theoretical frames applied and that interviewing with a small number of participants was the preferred data collection method. The meta‐data‐analysis showed that transfer was a scary, unfamiliar, and threatening experience for the parents; they were losing familiar context, were separated from their neonate, and could feel their parenthood disrupted. We identified ‘wavering and wandering’ as a metaphoric representation of the parents’ experiences. The findings add knowledge about meta‐study as an approach for comprehensive qualitative research and point at the value of meta‐theory and meta‐method analyses. (shrink)

A modern philosopher described religion as “that region in which all the enigmas of the world are solved.” Smith argues in Experience and God that religion itself has become an enigma for modern man. In the book, smith attempts to reunite philosophy with religion. He argues that in recent decades the prevailing attitude has been chiefly one of indifference. This indifference, leading to the failure of understanding can be overcome only through radical reflection and self-criticism: a re-consideration of the nature (...) of religion, its place in the total structure of human life, and its relations to the secular culture in which the faith of man must live. The task Smith lays out must be of a largely philosophical nature, not only because of the necessity to understand religion in relation to a comprehensive scheme of things, but also because the idea of religion is intimately connected with the issues of metaphysics. Smith’s purpose is to bridge the gap between the ontological approach to God as represented by Augustine, Anselm, and Bonaventure, and the cosmological approach represented by Thomas Aquinas and Albert the Great. Smith shows that, although the two approaches significantly differ, they can be interpreted as ways of leading the meditating mind to the Presence of God, through the soul and through the world. (shrink)

In this article I explore various facets of Nozick’s famous thought experiment involving the experience machine. Nozick’s original target is hedonism—the view that the only intrinsic prudential value is pleasure. But the argument, if successful, undermines any experientialist theory, i.e. any theory that limits intrinsic prudential value to mental states. I first highlight problems arising from the way Nozick sets up the thought experiment. He asks us to imagine choosing whether or not to enter the machine and uses our choice (...) (or rather the choice he assumes most people will have) as evidence against experientialist theories. But for this strategy to succeed it must be possible to distinguish between self-interested and non-self-interested reasons for declining to enter the machine, and there is no obvious way to do this without begging the question against the hedonist. In successive sections I then (a) consider a common misconception of Nozick’s conclusion (that he thinks machine life is the worst life), (b) consider different intuitions about what is important to well-being but missing from machine life, and finally (c) explain what “the experience requirement” is, and describe its relationship to debates about experientialist theories. (shrink)

The feminist philosopher and social scientist shows how "gendering" has affected the social and natural sciences as she reconciles the long-standing dichotomy between the quantitative and qualitative methods and demonstrates the tandem use of both experimental and intuitive approaches.

In Experiment, Right or Wrong, Allan Franklin continues his investigation of the history and philosophy of experiment presented in his previous book, The Neglect of Experiment. Using a combination of case studies and philosophical readings of those studies, Franklin again addresses two important questions: (1) What role does and should experiment play in the choice between competing theories and in the confirmation or refutation of theories and hypotheses? (2) How do we come to believe reasonably in experimental results? Experiment, Right (...) or Wrong makes a significant contribution to an important area in contemporary history and philosophy of science. Philosophers and historians of science, physicists, and advanced students in these areas will find much of interest in this engaging study. (shrink)

Phenomenological questions differ from those of metaphysics and epistemology. Regarding history, rather than asking: What is history? Or: How do we know history? a phenomenology of history inquires into history as a phenomenon, and into the experience of the historical. How does history present itself to us, how does it enter our lives, and what are the forms of experience in which it does so? The purpose of this essay is to outline a distinctively phenomenological approach to history. History is (...) usually associated with social existence and its past, and so this essay will ask about the experience of the social world and of its temporality. Experience in this context connotes not just observation but also involvement and interaction. We experience history not just in the social world around us but also in our own engagement with it. Philosophers have asked both metaphysical and epistemological questions about history, and some of the best-known philosophies of history have resulted from this questioning. The phenomenological approach is different, but it is not unrelated to these traditional philosophical questions. The later part of this essay will turn in some detail to how phenomenology, though distinct, may connect to these questions. (shrink)

Pragmatism, Experience, and the Given The doctrine of the Given is that subjects have direct non-inferential awareness of content of their experiences and apprehensions, and that some of a subject's beliefs are justified on the basis of that subject's awareness of her experiences and apprehensions. Pragmatist criticisms of the Given as a myth are shown here not only to be inadequate but to presuppose the Given. A model for a pragmatist account of the Given is then provided in (...) terms of refinements of Dewey's theory of experience. The doctrine of the Given is implicated in the functions of inquiry insofar as one must take it that experience is a source of justification. (shrink)

Wilderness experiences were celebrated by the Great Romantics, and figures such as Wordsworth and Thoreau emphasized the need to seek direct contact with the non-human world. Later deep ecologists accentuated the way in which wilderness experiences can spark moral epiphanies and lead to action on behalf of the natural environment. In recent years, psychological studies have manifested how the observations made by the Romantics, nature authors and deep ecologists apply to laypeople: contact with the wilderness does tend to (...) lead to epistemological, ontological and normative ‘epiphanies.’ This paper analyses four different umbrella terms with which to make sense of the content of wilderness experiences. First, mystical experience, peak experience and elevation are explored. Although all three offer promising models for explicating the nature of wilderness experiences, they also run the risk of reducing those experiences to sheer experiential hedonism.... (shrink)

In this paper, I do a few things. I develop a (largely) empirical argument against naïve realism (Campbell, Martin, others) and for representationalism. I answer Papineau’s recent paper “Against Representationalism (about Experience)”. And I develop a new puzzle for representationalists.

I examine the role of inference from experiment in theory building. What are the options open to the scientific community when faced with an experimental result that appears to be in conflict with accepted theory? I distinguish, in Laudan's (1977), Nickels's (1981), and Franklin's (1993) sense, between the context of pursuit and the context of justification of a scientific theory. Making this distinction allows for a productive middle position between epistemic realism and constructivism. The decision to pursue a new or (...) a revised theory in response to the new evidence may not be fully rationally determined. Nonetheless, it is possible to distinguish the question of whether there is reason to pursue a theory from the question of whether that theory, once it has been pursued over time, solves a problem of interest to science. I argue that, in this context, there is a solid way to distinguish between the contexts of pursuit and of justification, on the basis of a theory's evidential support and problem-solving ability. (shrink)

The authors provide an overview of philosophical discussions about the roles of experiment in science. First, they cover two approaches that took shape under the heading of “new experimentalism” in the 1980s and 1990s. One approach was primarily concerned with questions about entity realism, robustness, and epistemological strategies. The other has focused on exploratory experiments and the dynamic processes of experimental research as such, highlighting its iterative nature and drawing out the ways in which such research is grounded in experimental (...) systems, concepts and operational definitions. Second, the authors look at more recent philosophical work on the epistemology of causal inference, in particular highlighting discussions in the philosophy of the behavioral and social sciences, concerning the extrapolation from laboratory contexts to the world. (shrink)