The aim of this paper is to introduce Robert Brandom’s Inferentialism (Inferential theory of meaning) and Fodor and Lepore’ compositionality objection, and to protect Inferentialism from the objection based on compositionality. According to Inferentialism, To grasp or understand a concept is to have practical mastery over the inferences in which it is involved. However, Fodor and Lepore oppose Inferentialism by offering the compositionality objection. They argue that compositionality is needed to explain productivity, systematicity and learnability of language, meaning is compositional. (...) Since inferential role is not compositional, however, meaning is not an inferential role. Against Fodor and Lepore’s objection, I present Brandom’s responses and develop my own views. (shrink)
This paper discusses Lee’s argument that Lewis’s reformed conditional analysis of dispositions is preferable to the simple conditional analysis of dispositions. Lee’s argument is basically that there are some examples that can be adequately handled by Lewis’s analysis but cannot by the simple conditional analysis of dispositions. But I will reveal that, when carefully understood, they spell no trouble for the simple conditional analysis of dispositions, failing to serve a motivating role for Lewis’s analysis.
This paper posits that differences in corporate governance structure partly result from differences in institutional arrangements linked to business systems. We developed a new international triad of business systems: the Anglo-American, the Communitarian and the Emerging system, building on the frameworks of Choi et al. (British Academy of Management (Kynoch Birmingham) 1996, Management International Review 39, 257–279, 1999). A common factor determining the success of a corporate governance structure is the extent to which it is transparent to market forces. (...) Such transparency is more than pure financial transparency; as it can also be based on factors such as governmental, banking and other types of institutional transparency mechanism. There may also be a choice for firms to adopt voluntary corporate disclosure in situations where mandatory disclosure is not established. The Asian financial crisis of 1997–1999 and the more recent corporate governance scandals such as Enron, Andersen and Worldcom in the United States and Ahold and Parmalat in Europe show that corporate governance and business ethics issues exist throughout the world. As an illustration we focus on Asia’s emerging1 markets, as, both in view of the pressure of globalization and taking into account the institutional arrangements peculiar to the emerging business system, these issues are important there. Particularly for those who have to find an accommodation between the corporate governance structures and disclosure standards of the Emerging system and those of the Anglo-American and Communitarian systems. (shrink)
Abstract This study was designed to investigate the factors affecting ethical practices of public relations professionals in public relations firms. In particular, the following organizational ethics factors were examined: (1) presence of ethics code, (2) top management support for ethical practice, (3) ethical climate, and (4) perception of the association between career success and ethical practice. Analysis revealed that the presence of an ethics code along with top management support and a non-egoistic ethical climate within public relations firms significantly influenced (...) public relations professionals' ethical practices. Content Type Journal Article Category Original Paper Pages 1-19 DOI 10.1007/s13520-011-0013-1 Authors Eyun-Jung Ki, Department of Advertising and Public Relations, College of Communication and Information Sciences, The University of Alabama, Box 870172, Tuscaloosa, AL 35487-0172, USA Junghyuk Lee, Division of Communication Arts, Kwangwoon University, Seoul, South Korea Hong-Lim Choi, School of Communication, Sun Moon University, 100, Kalsan-ri, Tangjeong-myeon, Asan-si, Chungnam 336-708, South Korea Journal Asian Journal of Business Ethics Online ISSN 2210-6731 Print ISSN 2210-6723. (shrink)
Despite the importance of the co-evolution approach in various branches of research, such as strategy, organisation theory, complexity, population ecology, technology and innovation (Lewin et al., 1999; March, 1991), co-evolution has been relatively neglected in international business and ethics research (Madhok and Phene, 2001). The purpose of this article is to show how co-evolution theory provides a theoretical framework within which some issues of ethics research are addressed. Our analysis is in the context of the contrasts between business systems (North, (...) 1990), and in particular the distinction between informal systems and those systems where institutions are formalised in law. This complements the growing research on comparative corporate governance and capitalisms (Chandler and Hikino, 1990; Choi et al., 1999; Whitley, 1994). The synthesis of co-evolution and analysis of divergent institutional environments in ethics research can also complement the globalisation and MNE approaches to international business research. (shrink)
Pack includes 2 titles from the popular Blackwell Philosophy Anthologies Series: _ _ Philosophy of Literature_: Contemporary and Classic Readings_ _Edited by Eileen John and Dominic McIver Lopes ISBN: 9781405112086 _ Philosophy of Film and Motion Pictures_: An Anthology _Edited by No ë l Carroll and Jinhee Choi ISBN: 9781405120272.
For the last several decades, dispositional properties have been one of the main topics in metaphysics. Still, however, there is little agreement among contemporary metaphysicians on the nature of dispositional properties. Apparently, though, the majority of them have reached the consensus that dispositional ascriptions cannot be analysed in terms of simple counterfactual conditionals. In this paper it will be brought to light that this consensus is wrong. Specifically, I will argue that the simple conditional analysis of dispositions, which is generally (...) thought to be dead, is in fact an adequate analysis of dispositions. I will go on to discuss Mumford’s view of dispositions from the perspective of the simple conditional analysis of dispositions. (shrink)
In this paper I put forward a counterexample against Lewis’s reformed conditional analysis of fragility and then refute a possible response by Lewis. And I go on to argue that Lewis can overcome the counterexample by excluding fragility-mimickers from the stimulus appropriate to the concept of fragility.
Recently Stephen Barker has raised stimulating objections to the thesis that, roughly speaking, if two events stand in a relation of counterfactual dependence, they stand in a causal relation. As Ned Hall says, however, this thesis constitutes the strongest part of the counterfactual analysis of causation. Therefore, if successful, Barker’s objections will undermine the cornerstone of the counterfactual analysis of causation, and hence give us compelling reasons to reject the counterfactual analysis of causation. I will argue, however, that they do (...) not withstand scrutiny. (shrink)
The authors find East Asians to be holistic, attending to the entire field and assigning causality to it, making relatively little use of categories and formal logic, and relying on "dialectical" reasoning, whereas Westerners, are more analytic, paying attention primarily to the object and the categories to which it belongs and using rules, including formal logic, to understand its behavior. The 2 types of cognitive processes are embedded in different naive metaphysical systems and tacit epistemologies. The authors speculate that the (...) origin of these differences is traceable to markedly different social systems. The theory and the evidence presented call into question long-held assumptions about basic cognitive processes and even about the appropriateness of the process–content distinction. (shrink)
The idea that dispositions are an intrinsic matter has been popular among contemporary philosophers of dispositions. In this paper I will first state this idea as exactly as possible. I will then examine whether it poses any threat to the two current versions of the conditional analysis of dispositions, namely, the simple and reformed conditional analysis of dispositions. The upshot is that the intrinsic nature of dispositions, when properly understood, doesn't spell trouble for either of the two versions of the (...) conditional analysis of dispositions. Along the way, I will propose an extensionally correct and practically useful criterion for identifying nomically intrinsic dispositions and criticize one objection raised by Lewis against the simple conditional analysis of dispositions. (shrink)
Stephen Mumford, in his book on dispositions, argues that we can distinguish between dispositional and categorical properties in terms of entailing his 'conditional conditionals', which involve the concept of ideal conditions. I aim at defending Mumford's criterion for distinguishing between dispositional and categorical properties. To be specific, no categorical ascriptions entail Mumford's 'conditional conditionals'.
Despite the prevailing discourses on the importance of top management ethical leadership, related theoretical and empirical developments are lacking. Drawing on institutional theory, we propose that top management ethical leadership contributes to organizational outcomes by promoting firm-level ethical and procedural justice climates. This theoretical framework was empirically tested using multi-source data obtained from 4,468 employees of 147 Korean companies from various industries. The firm-level analysis shows that top management ethical leadership significantly predicts ethical climate, which then results in procedural justice (...) climate that fully mediates the effects of top management ethical leadership on two organizational outcomes, namely, firm-level organizational citizenship behavior and firm financial performance. The present study provides a plausible theoretical account and empirical validation of a mechanism through which top management ethical leadership enhances organizational performance. (shrink)
The central theme of this paper is the dispositional/categorical distinction that has been one of the top agendas in contemporary metaphysics. I will first develop from my semantic account of dispositions what I think the correct formulation of the dispositional/categorical distinction in terms of counterfactual conditionals. It will be argued that my formulation does not have the shortcomings that have plagued previously proposed ones. Then I will turn my attention to one of its consequences, the thesis that dispositional properties are (...) not susceptible to intrinsic finks. This thesis was first advanced by me and has ever since stirred up a big controversy, endorsed by some philosophers like Handfield, Bird, and Cohen but rejected by others like Clarke and Fara. Against this background, I will remedy my defense of the impossibility of intrinsically finkable dispositions and then refute some of apparently powerful criticisms of it. And so the upshot is that it is much more reasonable to hold on to the thesis that dispositions are intrinsically unfinkable. This will have the effect of putting the dispositional/categorical distinction on firmer and more secure ground. (shrink)
In this paper I will discuss Richard Holton’s defence of dispositionalism that all properties are essentially dispositional. By way of countering the objection that dispositionalism generates an infinite regress, Holton attempts to advance a consistent model of possible worlds where all truths are dispositional truths. But I will argue that the simple conditional analysis of dispositions, on which Holton’s model is built, is so mistaken that Holton’s model fails to serve his goal. What is more, it is not likely that (...) we can successfully materialize the driving idea of Holton’s model on an appropriately revised version of the conditional analysis of dispositions. Finally, I will discuss the lesson on the methodology of philosophy that we can learn from Holton’s failure. (shrink)
The lack of attention to sustainability, as a concept with multiple dimensions, has presented a developmental gap in green marketing literature, sustainability, and marketing literature for decades. Based on the established premise of customer–corporate (C–C) identification, in which consumers respond favorably to companies with corporate social responsibility initiatives that they identify with, we propose that consumers would respond similarly to companies with sustainability initiatives. We postulate that consumers care about protecting and preserving favorable economic environments (an economic dimension of sustainability) (...) as much as they care about natural environments. Thus, we investigate how two sustainability dimensions (i.e., environmental and economic) and price can influence consumer responses. Using an experimental method, we demonstrate that consumers favor sustainability in both dimensions by giving positive evaluations of the company and purchase intent. In addition, consumers respond more negatively to poor company sustainability than to high company sustainability. In comparison, consumers respond more negatively to the company’s poor commitment to caring for the environment than to the company’s poor commitment to economic sustainability. We also find that consumers do not respond favorably to low prices when they have information about the firm’s poor environmental sustainability. Finally, we find support for an interaction effect between consumer support for sustainability and corporate sustainability; that is, consumers evaluate a company more favorably if the company shares the consumers’ social causes. Overall, we conclude, from our empirical study, support for the idea that consumers do respond to multiple dimensions of sustainability. (shrink)
One of the greatest problems facing luxury goods firms in a globalizing market is that of counterfeiting. The purpose of this paper is to analyze the different types of counterfeiting that take place in thefashion industry and the ethical issues raised. We argue that the problem partly lies in the industry itself. Copying of designs is endemic and condoned, which raises several ethical dilemmas in passing judgment on the practice of counterfeiting. We analyze the ethical issues in a number of (...) different types of counterfeiting encountered in the fashion industry. We conclude with some observations on the general implications for ethics in intellectual property rights. (shrink)
The influence of celebrities in the 21st century extends far beyond the traditional domain of the entertainment sector of society. During the recent Palestinian presidential elections, the Hollywood actor Richard Gere broadcast a televised message to voters in the region and stated, “Hi, I’m Richard Gere, and I’m speaking for the entire world”. Celebrities in the 21st century have expanded from simple product endorsements to global political and international diplomacy. The celebrities industry is undergoing, “mission creep”, or the expansion of (...) an enterprise beyond its original goals (Hyde, 2009 ). The global internet is one of the major drivers of this phenomenon. The contribution of this paper is to analyse this global phenomenon and the potential implications for business ethics research. (shrink)
The cognitive unbinding paradigm suggests that the synthesis of neural information is attenuated by general anesthesia. Here, we analyzed the functional organization of brain activities in the conscious and anesthetized states, based on functional segregation and integration. Electroencephalography recordings were obtained from 14 subjects undergoing induction of general anesthesia with propofol. We quantified changes in mean information integration capacity in each band of the EEG. After induction with propofol, mean information integration capacity was reduced most prominently in the γ band (...) of the EEG . Furthermore, we demonstrate that loss of consciousness is reflected by the breakdown of the spatiotemporal organization of γ waves. We conclude that induction of general anesthesia with propofol reduces the capacity for information integration in the brain. These data directly support the information integration theory of consciousness and the cognitive unbinding paradigm of general anesthesia. (shrink)
Lewis claims that Martin’s cases indeed refute the simple conditional analysis of dispositions and proposes the reformed conditional analysis that is purported to overcome them. In this paper I will first argue that Lewis’s defense of the reformed analysis can be understood to invoke the concepts of disposition-specific stimulus and manifestation. I will go on to argue that advocates of the simple analysis, just like Lewis, can also defend their analysis from alleged counterexamples including Martin’s cases by invoking the concepts (...) of disposition-specific stimulus and manifestation. This means that Lewis’s own necessary defense of the reformed analysis invalidates his motivation of it. Finally, I will argue that we have a good reason to favor the simple analysis over Lewis’s analysis. (shrink)
Attempting to determine solutions for unethical practices in the field, this research was designed to assess the effectiveness of public relations firms’ ethics statements in decreasing the incidence of malpractice. This study revealed an encouraging finding that practitioners working in firms with ethical parameters were significantly more likely to engage in ethical practices. Moreover, educating public relations practitioners about the content of ethics statement could positively influence their ethical practices. At the same time, this study’s findings suggest further questions for (...) consideration in future scholarship and in the application of ethics statements to practice within the field. (shrink)
In this paper I will first consider Bird's cases against the conditional analysis of dispositions and defend them from Gundersen's objection. This does not mean that I believe that Bird's cases are successful. To the contrary, I take it that we can save the conditional analysis from Bird's cases by taking Lewis's two-step approach to dispositions. However, I will go on to argue that if Bird's cases are supplemented with the assumption that dispositions are intrinsic matter, they are able to (...) do what they are intended to do. (shrink)
A variety of stakeholders have long been interested in the factors that are related to firm valuation. This article investigates why companies with more comprehensive corporate governance (CG) have a value premium over companies with less comprehensive CG. We posit and find that the cost of equity capital (COC) decreases with the strength of CG, suggesting that the value premium stems from the lower COC for more comprehensive CG. We also find that the COC is lower for companies with strong (...) commitment to business ethics (BE) than for those with weak commitment to BE and that the beneficial effect of CG on the COC is more pronounced for companies with weak commitment to BE than for those with strong commitment to BE. Companies with more comprehensive CG tend to exhibit strong commitment to BE, but the beneficial effect of corporate ethical commitment is not completely subsumed by CG. Our results suggest that companies could lower their cost of equity capital and increase firm value by adopting more comprehensive CG practices and committing to higher standards of BE. (shrink)
Why would God institute the practice of efficacious petitionary prayer? Why would God not simply give us what we need before we ask? I examine recently proposed solutions to this puzzle and argue that they are inadequate to explain why an omniscient and perfectly good God would act differently in response to prayer. I propose that God has reasons to not always maximize a creature’s good, even in a sinless world, and that petitionary prayer functions as a means to reward (...) those who trust God, to enable us to actively love those we cannot otherwise help, and to give the petitioner personal evidence of God’s existence and care for her, creating a virtuous cycle of increasing faith. I refine this proposal by responding to several objections involving human responsibility and the epistemology of divine action. Along the way, I offer several ways petitioners can recognize God’s having answered a prayer and how God might help us with some common obstacles to prayer. (shrink)
In this paper, I will first clarify Lewis’s influence theory of causation by relying on his theory of events. And then I will consider Michael Strevens’s charge against the sufficiency of Lewis’s theory. My claim is that it is legitimate but does not pose as serious a problem for Lewis’s theory as Strevens thinks because Lewis can surmount it by limiting the scope of his theory to causation between concrete events. Michael Strevens raises an alleged counterexample to the necessity of (...) Lewis’s theory that, if successful, would have a very important advantage over other alleged counterexamples. But I will assert that it is simply mistaken. My defense of Lewis’s theory will shed interesting light on the relationship between Lewis’s theory and Salmon’s mark theory. (shrink)
Manley and Wasserman criticize the conditional analysis of dispositions, arguing that whilst it invites the ‘strategy of getting specific’, this strategy creates more problems than it solves. I show that their understanding both of the phenomenon of masking and also of the strategy of getting specific is deeply defective, which wreaks havoc with their principal critique of the conditional analysis of dispositions.
Frontoparietal connectivity has been suggested to be important in conscious processing and its interruption is thought to be one mechanism of general anesthesia. Data in animals demonstrate that feedforward processing of information may persist during the anesthetized state, while feedback processing is inhibited. We investigated the directionality and functional organization of frontoparietal connectivity in 10 human subjects anesthetized with propofol on two separate occasions. Multichannel electroencephalography and a computational method of assessing directed functional connectivity were employed. We demonstrate that directed (...) feedback connectivity is diminished with loss of consciousness and returns with responsiveness to verbal command. We also applied the Dendrogram classification method to assess the global organization of directed functional connectivity during consciousness and anesthesia. We demonstrate a state-specific hierarchy and subject-specific subhierarchy in functional organization. These data support the hypothesis that specific states of human consciousness are defined by specific states of frontoparietal connectivity. (shrink)
This is a perfect overview article that serves as a general introduction to the topic of dispositions. It is composed of six sections that review the main philosophical approaches to the most important questions: Analysis of disposition ascription, the dispositional/categorical distinction, dispositions and categorical bases, the intrinsicness of dispositions and the causal efficacy of dispositions.
The transnational agrarian movement La Via Campesina (LVC) seeks to reestablish food sovereignty authority within national borders by removing agriculture from the WTO system. The WTO is a membership organization of participating nation-states that have agreed to abide by the rules of the WTO governance regime. Nominally, at least, changes in these governance rules must be approved by the nation-state members. This paper examines the extent to which South Korean affiliate organizations of LVC, the Korean Peasant League and the Korean (...) Women Peasants Association, have been successful in placing food sovereignty issues on the national agri-food policy agenda in South Korea that challenge the WTO’s neoliberal global governance regime for agriculture. In effect, the success of transnational movements like LVC in challenging global institutions may rest on how well their member affiliates are able to play domestic agri-food politics. (shrink)
An extensive body of literature in sociology and anthropology has shown that different societies have developed different structures for exchange of items such as goods, status and information. The purpose of this paper is to demonstrate how social exchange theory can help illuminate many of the underlying bases of different ethical perspectives in debates about social exchanges. Social exchange theory is applied to three common types of knowledge exchange – R&D joint ventures, commercial intellectual property exchange and academic exchange. Two (...) key factors that underlie different ethical perspectives are shown to be differences in structures for social exchange and differences in views of the alienability of knowledge from its originator. (shrink)
This study examines the relationship between corporate commitment to business ethics and financial reporting quality. We posit that companies with a higher level of ethical commitment exhibit better quality financial reporting than those with a lower level of ethical commitment. Consistent with our prediction, we find that companies with a higher level of ethical commitment are engaged in less earnings management, report earnings more conservatively, and predict future cash flows more accurately than those with a lower level of ethical commitment. (...) We also find that corporate commitment to business ethics has perpetuating effects on future financial reporting quality. (shrink)
People use language to communicate their perceptions and conceptions of the world, and underlying this communication is the linguistic system that interacts with the human perceptual and conceptual machinery. This is supported by research on sentence comprehension among adults. This chapter examines theories of sentence processing in children and adults. It comments on a study John Trueswell et al. in which they demonstrated that five-year-old children appeared to be unable to use contextual cues to resolve ambiguity in sentences such as (...) “Put the frog on the napkin into the box.” Trueswell et al. explained this finding by arguing that children have limited working memory capacity that prevents them from using information from the context to disambiguate linguistic input. The chapter first discusses real-time sentence processing in adults before presenting a developmental account of sentence comprehension. It then considers the so-called Kindergarten-path Effect along with referential scenes, definite reference, and restrictive modifiers. It also looks at the effects of discourse and pragmatics on parsing by children and concludes with a discussion of the development of attention in children. (shrink)
The gulf between multinational enterprises’ focus on high income countries and the reality of 80% of the world living in developing, bottom of pyramid (Hahn, J Bus Ethics 84:313–324, 2009 ) economies could magnify the anti-globalisation movement and political backlashes in the twenty-first century. The global financial crisis of 2008 and 2009 has increased such social tensions throughout the world and creates greater challenges for, responsible leadership. In this conceptual article, the authors analyse the value and identity of local managers, (...) and the liability of foreignness caused by over-reliance on expatriate managers and under-reliance on local managers in bottom of pyramid countries (Hahn, 2009 ). It is argued that multinational enterprises need to assess local managers’ knowledge and contributions as having not only operational and market value, but also institutional value, such as access to local knowledge and local social capital; such a holistic approach will ensure fairer, equal treatment of all managers in the multinational enterprise. Responsible leadership in the twenty-first century requires a greater appreciation of local managers’ institutional value and the overcoming of any psychological distance towards local managers of bottom of pyramid countries. (shrink)
Isaiah Berlin and Stuart Hampshire's early engagements with logical positivism and ordinary language philosophy are examined as historical and philosophical reference points for locating an alternative – interpretive and humanist – tradition that developed within analytic philosophy at Oxford in the 20th C. Berlin and Hampshire's writings show the legacy of an enduring Idealist philosophy, one that nonetheless had to be revised and reinvented against the new empiricist challenges brought on by the rise of analytic philosophy. Berlin and Hampshire rejected (...) idealism's metaphysical pretensions of the Absolute in favor of the new empiricism's insistence on grounding philosophy in experience, but staunchly opposed applying the latter's narrowly ‘scientistic’ view of knowledge to human experience, re-affirming the indivisible connections between epistemological issues and moral and political issues. The idealist themes they expounded are most clearly evident in their arguments for an interpretive philosophy in opposition to the reductivist tendencies of logical positivism, and in their defense of humanist liberalism against the drive of analysis toward naturalism where inquiry into human life is concerned. Such themes include: an anti-naturalist, vitalist, philosophy of human sciences, an insistence on the intrinsic force and importance of human values against moral relativism, and the recognition of the political significance of the plurality of human values. As such, Berlin and Hampshire reveal the strong interpretive and humanist ways of reasoning from within the analytic tradition itself. Moreover, these interpretive and humanist themes continue to have strong echoes, this paper argues, in the development of post-analytic political theory in the latter half of the 20th century through today, as further evinced in the ideas of Bernard Williams and Charles Taylor . By calling attention to such continuities, this paper reveals how moral and political philosophy in the Anglophone world lay not moribund but continued to develop in the heyday of analytic philosophy from the late ‘30s to the ‘50s and onward, thereby challenging the commonplace of the ‘death’ of normative political theorizing until Rawls reinvigorated it in the ‘70s. (shrink)
Is it possible that one and the same object x has opposing dispositions at the same time? One's first reaction might be that it is evidently impossible. On the assumption that x is incombustible, it seems to follow that it is not combustible. Surprisingly enough, however, it is claimed that there are a number of examples in support of the possibility of simultaneous co-instantiation of opposing dispositions. In this paper, I will bring under scrutiny some of the examples and come (...) to the conclusion that none of them achieve the desired goal. This will give support to the initial intuition that opposing dispositions cannot be co-instantiated by one and the same object at the same time. (shrink)
A variety of stakeholders including investors, corporate managers, customers, suppliers, employees, researchers, and government policy makers have long been interested in the relationship between the financial performance of a corporation and its commitment to business ethics. As a subject of research, the relations between business ethics and corporate valuation has yet to be thoroughly quantified and investigated. This article is an effort to amend this inadequacy by demonstrating a statistically significant association between ethical commitment and corporate valuation measures. Consistent with (...) anecdotal evidence, we have found a significant association between the ethical commitment of Korean companies and their valuation on the Korean stock market. However, the result reveals that the association between ethical commitment and financial performance is not significantly supported. (shrink)
There is debate over whether the content of an intuitive cognition is determined externally or internally in Ockham’s theory. According to the most common view, which I call the Strong Externalist Interpretation, intuitive content is wholly determined externally. Opposed to SE is the Strong Internalist Interpretation, according to which the content of an intuition is wholly determined by internal features of a cognizer. The aim of this paper is to argue against those interpretations, and to argue for a third kind (...) of interpretation which preserves interpretative advantages of SE and SI without falling into the difficulties that each faces. On this view, intuitive content is complex, and its complexity is analyzed into a mix of internalist and externalist elements. (shrink)
The global corporate scandals such as Enron, Worldcom and Global Crossing have raised fundamental issues of business ethics as well as economic, social and anthropological questions concerning the nature of business competition and global capitalism. The purpose of this conceptual paper is to introduce the concept of "welfare exchange" to the existing notions of economic, social and anthropological notions of business and exchange in markets and society in the 21st century. Global competition and business success in the 21st century continue (...) to raise the nature of economic value and the interaction among diverse actors in international markets, institutions and society. We believe that the nature of such exchange between consumers and organizations, which can also be termed social marketing, need to increasingly take into account a welfare and ethical component. In this paper, we introduce our concept of welfare exchange to emphasize the importance of such welfare and ethical issues in the global business environment of the 21st century. (shrink)
This article presents an alternative rationale for corporate philanthropy based on managerial values of benevolence and integrity. On the one hand, top managers with benevolence and integrity values are more likely to spread their intrinsic concern for others into the wider society in the form of corporate philanthropy. On the other hand, top managers high in benevolence and integrity are likely to contribute to improved managerial credibility and trusting firm-stakeholder relationships, thereby improving corporate financial performance. Therefore, the article makes the (...) argument that both corporate philanthropy and corporate financial performance can better be interpreted as resulting from managers’ benevolence and integrity values. (shrink)