We examine whether the behavior of institutional investors representatives on boards leads to observable differences in corporate finance. We find that directors representing pressure-sensitive investors prefer lower financial leverage whereas pressure-resistant directors show no particular preference. When analyzed separately, directors appointed by banks and insurance firms have different attitudes. Bank representatives on boards increase both the financial leverage and the banking debt. This result suggests that some types of institutional directors provide financial resources to the firms on whose board they (...) sit, supporting the view that boards manage the uncertainty associated with strategic decision making and provide firms with preferential access to resources and financial expertise. This research has interesting academic and policy implications for the debate over the proper degree of institutional involvement in corporate governance. Different institutional investors have different agendas and incentives for corporate governance, and, therefore, both researchers and policy makers should no longer consider institutional investors as a whole. In addition, our paper calls for new research on the causes and implications of institutional investor involvement in the corporate governance of nonfinancial firms. This new research could require new insights on the dynamics within the boards and on the interplay among the knowledge, incentives and attitudes of quite different directors. (shrink)

The aim of this article is to analyse the internal mechanisms of corporate governance (board of directors and ownership structure), which influence voluntary disclosure of intangibles. The results appear to corroborate the view that an increase in institutional investor shareholding has a negative effect on voluntary disclosure, supporting the hypothesis of entrenchment, whereas an excessive ownership by institutional investors may have adverse effects on strategic disclosure decisions. The results also indicate that an increase in the number of members of the (...) board to up to 15 has a beneficial effect on the disclosure of intangibles. However, as this number increases, the effect inverts and becomes adverse to improving the capacity for supervision and control in the decision-making process regarding the voluntary disclosure of intangibles. The findings endorse the recommendation of the most of the Corporate Governance Codes regarding an advisable maximum of 15 members on a board to ensure its effectiveness and internal cohesion. (shrink)

Although US and European research has documented improvement in earnings quality associated with corporate governance characteristics, the situation in Latin America is questionable, given the business environment in which firms operate, which is characterized by controlling family ownership and weak legal protection. The purpose of this study is to examine the relation between the internal mechanisms of Corporate Governance and Earnings Management measured by discretionary accrual. We use a sample of listed Latin American non-financial companies from the period 2006–2009. Our (...) results show how in the Latin American context the role of external directors is limited and that Boards which meet more frequently take a more active position in the monitoring of insiders, so showing a lower use of manipulative practices. In addition, we find a non-linear relation between insider ownership and discretionary accruals, also pointing to the fact that ownership concentration may be a manipulative practices constrictor mechanism only when the ownership of main shareholders is moderate. The findings have important policy implications since this is, to the best of our knowledge, the first study to analyze the relation between the effectiveness of the government and the earnings management behavior. As policy implications, we document how when a country implements controls aimed at reducing corruption, strengthening the rule of law or improving the effectiveness of government, this leads to a reduction in firm earnings management. (shrink)

For the period 2015–2019 and based on a Spanish sample of 145 listed companies, this paper provides insights into how narcissistic chief executive officers (CEOs) influence the proportion of women in top management teams (TMTs). As a further analysis and in line with social psychology and upper echelons theories, we study whether the power and gender of a CEO and the female proportion in the firm's board moderate the relationship. Our results reveal that narcissistic CEOs are less likely to support (...) women in TMTs, confirming that CEO personality traits influence team structure. Further results suggest that this aversion increases as the CEO's power grows and is a woman, and when female proportion in board decreases. The results have an impact on the gender equality goal, demonstrating that the behavior of women toward promoting gender equality in TMTs depends both on the specific position of women in the firm's hierarchy and on their personal psychological attributes. We find that women directors support social identity values and that narcissistic female CEOs act like queen bees. (shrink)

Does the board of directors influence cost of debt financing? This study of a sample of Spanish listed companies during the period 2004-2007 provides some evidence about the question. The results suggest that two board attributes - director ownership and board activity - appear to influence in the risk assessment of debtholders because of their ability to reduce agency cost and information asymmetry. We also find a non-linear relationship between board size and cost of debt, suggesting that from certain levels (...) the benefits of large boards may be outweighed by the cost of poorer communication and increased decision-making time. (shrink)

Reichenbachian approaches to indexicality contend that indexicals are "token-reflexives": semantic rules associated with any given indexical-type determine the truth-conditional import of properly produced tokens of that type relative to certain relational properties of those tokens. Such a view may be understood as sharing the main tenets of Kaplan's well-known theory regarding content, or truth-conditions, but differs from it regarding the nature of the linguistic meaning of indexicals and also regarding the bearers of truth-conditional import and truth-conditions. Kaplan has criticized these (...) approaches on different counts, the most damaging of which is that they make impossible a "logic of demonstratives". The reason for this is that the token-reflexive approach entails that not two tokens of the same sentential type including indexicals are guaranteed to have the same truth-conditions. In this paper I rebut this and other criticisms of the Reichenbachian approach. Additionally, I point out that Kaplan's original theory of "true demonstratives" is empirically inadequate, and claim that any modification capable of accurately handling the linguistic data would have similar problems to those attributed to the Reichenbachian approach. This is intended to show that the difficulties, no matter how real, are not caused by idiosincracies of the "token-reflexive" view, but by deep facts about indexicality. (shrink)

Descriptive semantic theories purport to characterize the meanings of the expressions of languages in whatever complexity they might have. Foundational semantics purports to identify the kind of considerations relevant to establish that a given descriptive semantics accurately characterizes the language used by a given individual or community. Foundational Semantics I presents three contrasting approaches to the foundational matters, and the main considerations relevant to appraise their merits. These approaches contend that we should look at the contents of speakers’ intuitions; at (...) the deep psychology of users and its evolutionary history, as revealed by our best empirical theories; or at the personal-level rational psychology of those subjects. Foundational Semantics II examines a fourth view, according to which we should look instead at norms enforced among speakers. The two papers aim to determine in addition the extent to which the approaches are really rival, or rather complementary. (shrink)

Espino, Santamaria, and Garcia-Madruga (2000) report three results on the time taken to respond to a probe word occurring as end term in the premises of a syllogistic argument. They argue that these results can only be predicted by the theory of mental models. It is argued that two of these results, on differential reaction times to end-terms occurring in different premises and in different figures, are consistent with Chater and Oaksford's (1999) probability heuristics model (PHM). It is argued that (...) the third finding, on different reaction times between figures, does not address the issue of processing difficulty where PHM predicts no differences between figures. It is concluded that Espino et al.'s results do not discriminate between theories of syllogistic reasoning as effectively as they propose. (shrink)

Rights of Women attracted much UK media attention in late 2014 by bringing a judicial review that challenged the reduced provisions for family law legal aid available for victims of domestic violence: R v The Lord Chancellor and Secretary of State for Justice [2015] EWHC 35. In June 2015, within Rights of Women’s 40th anniversary year, Hannah Camplin interviewed the organisation’s Director Emma Scott about the decision to bring the judicial review, the advantages and challenges of the judicial review (...) process, and the experience of strategic litigation within the context of Rights of Women’s long history of campaigning for women’s rights. What emerged is a portrait of a feminist organisation in 2015, and, in a fast changing political and financial landscape, the dual importance of collaborative working and the need for flexibility in service provision and campaigning tools. (shrink)

A beautiful and thoughtful collection of essays on reading, writing and learning, _Writing and Psychoanalysis_ grows out of a colloquium. The results are wondrous and impact on the reader at many different levels. In the act of writing, we all discover something about what we know previously unknown to us, and we learn more about our inner world that we knew before we set pen to paper. Patrick Mahony goes so far as to argue that Freud's self-analysis was essentially a (...) "writing cure." _Writing in Psychoanalysis_ is the first volume in the projected Monograph Series, Psychoanalytic Issues, the _Rivista di Psicoanalisi_ is undertaking in conjunction with Karnac Books. This series constitutes a major effort to bring about a dialogue among psychoanalysts who while ultimately bound together by a common psychoanalytic heritage nonetheless are separated in their thinking by different idioms, whether linguistic or theoretical. While featuring writers of very different idioms, this series will also present a venue to make some important Italian voices known to English speaking analysts. (shrink)

It is common in philosophy of language to recognise two different kinds of linguistic meaning: literal or conventional meaning, on the one hand, versus communicated or conveyed meaning, on the other. However, once we recognise these two types of meaning, crucial questions immediately emerge; for instance, exactly which meanings should we treat as the literal (semantic) ones, and exactly which appeals to a context of utterance yield communicated (pragmatic), as opposed to semantic, content? It is these questions and, specifically, how (...) we should model the relationship between semantic content and utterance context, that is the topic of this chapter. We explore five contemporary answers to this modelling question, considering the benefits and challenges of each, before closing by examining some potential new directions for debates in this area. (shrink)

Children ask many questions, but do not always receive answers to the questions they ask. We were interested in whether the act of generating questions, in the absence of an answer, is related to children’s later thinking. Two experiments examined whether children retain the questions they ask in working memory, and whether the type of questions asked relate to their categorization. Four to ten-year-old children were shown 12 novel objects, asked three questions about each, and did not receive answers to (...) their questions. Children recalled their questions in the first experiment and categorized variants of the novel objects in the second experiment. We found that children have robust working memory for their questions, indicating that these questions may relate to their subsequent thinking. Additionally, children generalize category boundaries more narrowly or broadly depending on the type of question they ask, indicating that children’s questions may reflect an underlying bias in how they think about the world. These findings suggest that future research should examine questions in the absence of answers to understand how inquiry affects children’s cognitive development. (shrink)

Emma Borg examines the relation between semantics and pragmatics, and assesses recent answers to fundamental questions of how and where to draw the divide between the two. She argues for a minimal account of the interrelation between them--a 'minimal semantics'--which holds that only rule-governed appeals to context can influence semantic content.

Starting with service robotics and industrial robotics, this paper aims to suggest philosophical reflections about the relationship between body and machine, between man and technology in our contemporary world. From the massive use of the cell phone to the robots which apparently “feel” and show emotions like humans do. From the wearable exoskeleton to the prototype reproducing the artificial sense of touch, technological progress explodes to the extent of embodying itself in our nakedness. Robotics, indeed, is inspired by biology in (...) order to develop a new kind of technology affecting human life. This is a bio-robotic approach, which is fulfilled in the figure of the cyborg and consequently in the loss of human nature. Today, humans have reached the possibility to modify and create their own body following their personal desires. But what is the limit of this achievement? For this reason, we all must question ourselves whether we have or whether we are a body. (shrink)

It is common in philosophy of language to recognise two different kinds of linguistic meaning: literal or conventional meaning, on the one hand, versus communicated or conveyed meaning, on the other. However, once we recognise these two types of meaning, crucial questions immediately emerge; for instance, exactly which meanings should we treat as the literal (semantic) ones, and exactly which appeals to a context of utterance yield communicated (pragmatic), as opposed to semantic, content? It is these questions and, specifically, how (...) we should model the relationship between semantic content and utterance context, that is the topic of this chapter. We explore five contemporary answers to this modelling question, considering the benefits and challenges of each, before closing by examining some potential new directions for debates in this area. (shrink)

Psychedelics have been recognized as model interventions for studying altered states of consciousness. However, few empirical studies of the shamanic state of consciousness, which is anecdotally similar to the psychedelic state, exist. We investigated the neural correlates of shamanic trance using high-density electroencephalography (EEG) in 24 shamanic practitioners and 24 healthy controls during rest, shamanic drumming, and classical music listening, followed by an assessment of altered states of consciousness. EEG data were used to assess changes in absolute power, connectivity, signal (...) diversity, and criticality, which were correlated with assessment measures. We also compared assessment scores to those of individuals in a previous study under the influence of psychedelics. Shamanic practitioners were significantly different from controls in several domains of altered states of consciousness, with scores comparable to or exceeding that of healthy volunteers under the influence of psychedelics. Practitioners also displayed increased gamma power during drumming that positively correlated with elementary visual alterations. Furthermore, shamanic practitioners had decreased low alpha and increased low beta connectivity during drumming and classical music and decreased neural signal diversity in the gamma band during drumming that inversely correlated with insightfulness. Finally, criticality in practitioners was increased during drumming in the low and high beta and gamma bands, with increases in the low beta band correlating with complex imagery and elementary visual alterations. These findings suggest that psychedelic drug-induced and non-pharmacologic alterations in consciousness have overlapping phenomenal traits but are distinct states of consciousness, as reflected by the unique brain-related changes during shamanic trance compared to previous literature investigating the psychedelic state. (shrink)

Microaggressions are seemingly negligible slights that can cause significant damage to frequently targeted members of marginalized groups. Recently, Scott O. Lilienfeld challenged a key platform of the microaggression research project: what’s aggressive about microaggressions? To answer this challenge, Derald Wing Sue, the psychologist who has spearheaded the research on microaggressions, needs to theorize a spectrum of aggression that ranges from intentional assault to unintentional microaggressions. I suggest turning to Bonnie Mann’s “Creepers, Flirts, Heroes and Allies” for inspiration. Building from Mann’s (...) richer theoretical framework will allow Sue to answer Lilienfeld’s objection and defend the legitimacy of the concept, ‘microaggression’. (shrink)

It is common in philosophy of language to recognise two different kinds of linguistic meaning: literal or conventional meaning, on the one hand, versus communicated or conveyed meaning, on the other. However, once we recognise these two types of meaning, crucial questions immediately emerge; for instance, exactly which meanings should we treat as the literal (semantic) ones, and exactly which appeals to a context of utterance yield communicated (pragmatic), as opposed to semantic, content? It is these questions and, specifically, how (...) we should model the relationship between semantic content and utterance context, that is the topic of this chapter. We explore five contemporary answers to this modelling question, considering the benefits and challenges of each, before closing by examining some potential new directions for debates in this area. (shrink)

In 1798, the National Institute and the French minister of foreign relations invited European countries to send delegations of science practitioners to Paris to finalise the values of the metre and the kilogram. This article reads the event as part of a wider attempt to establish the political relevance of international scientific consensus and include scientific exchanges in the diplomatic culture of post-revolutionary Europe. At the end of the 18th century, the scope and methods of both the sciences and diplomacy (...) were being renegotiated. French academicians hoped that the new system of weights and measures would at once facilitate international scientific exchanges and advertise that new authority should be politically invested in savants. During the Directory, part of the political elite hoped to stabilise the Revolution and forge an international order where the Republic could coexist with old regime monarchies. This entailed focusing diplomatic negotiations on commercial development, something a shared metrological system could foster. The conference was the product of the alliance between the two groups. Foreign responses to the project reveal the novelty of the association between scientific discussions and diplomatic negotiations. Furthermore, European savants and governments did not agree that metrological reforms fell primarily under the expertise of science practitioners, rather than under that of trading actors or administrators. The conference did not produce consensus on the suitability of the metric system or on the feasibility of programmes for the unification of weights and measures. It was more successful at promoting precision and rationality as key parameters to assess metrological systems and science practitioners as main experts in the matter. (shrink)

This article identifies several critical problems with the last 30 years of research into hostile communication on the internet and offers suggestions about how scholars might address these problems and better respond to an emergent and increasingly dominant form of online discourse which I call ‘e-bile’. Although e-bile is new in terms of its prevalence, rhetorical noxiousness, and stark misogyny, prototypes of this discourse—most commonly referred to as ‘flaming’—have always circulated on the internet, and, as such, have been discussed by (...) scholars from a range of disciplines. Nevertheless, my review of this vast body of literature reveals that online hostility has historically posed a number of conceptual, methodological, and epistemological challenges due to which scholars have typically underplayed, overlooked, ignored, or otherwise marginalised its prevalence and serious ethical and material ramifications. Fortunately, lessons learned from my analysis suggests promising approaches for future research into this challenging form of new media discourse. (shrink)

In this book Emma Ruttkamp demonstrates the power of the full-blown employment of the model-theoretic paradigm in the philosophy of science. Within this paradigm she gives an account of sciences as process and product. She expounds the "received statement" and the "non-statement" views of science, and shows how the model-theoretic approach resolves the spurious tension between these views. In this endeavour she also engages the views of a number of contemporary philosophers of science with affinity to model theory. This (...) text can be read by specialists working in philosophy of science or formal semantics, by logicians working on the structure of theories, and by students in philosophy of science - this text offers a thorough introduction to non-statement accounts of sciences as well as a discussion of the traditional statement account of science. (shrink)

This paper is based on ethnographic research of data practices in a public health project called Weather Health and Air Pollution. I examine two different kinds of practices that make air pollution data, focusing on how they relate to particular modes of sensing and articulating air pollution. I begin by describing the interstitial spaces involved in making measurements of air pollution at monitoring sites and in the running of a computer simulation. Specifically, I attend to a shared dimension of these (...) practices, the checking of a numerical reading for error. Checking a measurement for error is routine practice and a fundamental component of making data, yet these are also moments of interpretation, where the form and meaning of numbers are ambiguous. Through two case studies of modelling and monitoring data practices, I show that making a ‘good’ measurement requires developing a feeling for the instrument–air pollution interaction in terms of the intended functionality of the measurements made. These affective dimensions of practice are useful analytically, making explicit the interaction of standardised ways of knowing and embodied skill in stabilising data. I suggest that environmental data practices can be studied through researchers’ materialisation of error, which complicate normative accounts of Big Data and highlight the non-linear and entangled relations that are at work in the making of stable, accurate data. (shrink)

We are moving on at a time of crossings, of seeing each other at the colonial difference constructing a new subject of a new feminist geopolitics of knowing and loving.It has become abundantly clear that, since taking the oath of office and moving into the White House, Donald Trump and his administration are making good on their campaign promises to "Build that wall." In the same breath that Trump tantalizes his supporters with calls for a wall that is "physical, tall, (...) power[ful], beautiful," he evokes specters of the colonial imaginary, most notably the Latin American migrant as criminal and rapist, as potential terrorist.2 This rhetoric obscures the colonial history of the six hundred and fifty miles of already... (shrink)

Resumo O propósito deste artigo é mostrar a contribuição de Nietzsche à revolução nas práticas da encenação que ocorreram no Século XX, bem como sua relevância como crítico apaixonado pelo potencial de uma forma de arte que ele sentia que era interpretada em sua época de forma diminuída. A partir de seu estudo do teatro grego na obraO nascimento da tragédia, sublinha a importância da encenação na tragédia antiga, a qual estava para além do texto escrito por seu autor. Oferece (...) com isso uma análise da ideia de teatro como arte, a qual é consubstancial realizar-se em três dimensões: a do ator, a do poeta ou escritor do texto e a do espectador. Nietzsche defende a especificidade desses três papéis para toda realização teatral e o sentido filosófico que tem o teatro como autêntica forma artística. Conclui-se o artigo mostrando a recepção do pensamento teatral de Nietzsche em autores como August Strindberg, George Bernard Shaw e Eugene O'Neill, que buscarão novas formas e novos significados para sua arte.The purpose of this article is to show the contribution of Nietzsche to the revolution in the practices of the scenario that takes place in the 20th century, as well as its relevance as a passionate critic for the potential of an art form that he felt was interpreted in his time in a diminished way. From his study of Greek theater in his workThe Birth of Tragedy,he underlines the importance that in the ancient tragedy had its staging, and that went beyond the text written by its author. It offers therefore an analysis of the idea of theater as art, which is consubstantial in three dimensions: the actor, the poet or writer of the text and the viewer. Nietzsche defends the specificity of these three roles for every theatrical enterprise and the philosophical sense that theater has as an authentic artistic form. The article concludes by showing the acceptance of Nietzsche's theatrical thought in authors such as August Strindberg, George Bernard Shaw or Eugene O'Neill, who sought new forms and new meanings for their art. (shrink)

Machine Learning has become a popular tool in a variety of applications in criminal justice, including sentencing and policing. Media has brought attention to the possibility of predictive policing systems causing disparate impacts and exacerbating social injustices. However, there is little academic research on the importance of fairness in machine learning applications in policing. Although prior research has shown that machine learning models can handle some tasks efficiently, they are susceptible to replicating systemic bias of previous human decision-makers. While there (...) is much research on fair machine learning in general, there is a need to investigate fair machine learning techniques as they pertain to the predictive policing. Therefore, we evaluate the existing publications in the field of fairness in machine learning and predictive policing to arrive at a set of standards for fair predictive policing. We also review the evaluations of ML applications in the area of criminal justice and potential techniques to improve these technologies going forward. We urge that the growing literature on fairness in ML be brought into conversation with the legal and social science concerns being raised about predictive policing. Lastly, in any area, including predictive policing, the pros and cons of the technology need to be evaluated holistically to determine whether and how the technology should be used in policing. (shrink)

Resumo:o artigo analisa a recepção do pensamento de Nietzsche na Espanha nos últimos quarenta anos, mostrando as muitas vertentes pelas quais a obra do filósofo foi lida e as muitas influências que ela exerceu, como na política, na estética e nas artes. Num primeiro momento, a análise apresenta muitos autores que leram Nietzsche e mostra como a cada momento as ideias do filósofo eram invocadas em busca de renovação, sejam elas morais, estéticas ou políticas. Num segundo momento, traz à luz (...) os estudos acadêmicos e a diversidade de temas da filosofia nietzschiana neles abordados.:The article analyses the reception of Nietzsche's thought in Spain in the last forty years, showing the several ways by which the philosopher's work was read and the many influences that he carried out, such as in politics, in aesthetics and in the arts. In a first moment, the analysis presents many authors that read Nietzsche and shows how in each moment the philosopher's ideas were invoked in search of renewal, whether moral, aesthetic or politic. In a second moment, it brings into light the academic studies and the diversity of subjects form the nietzschean philosophy considered in them. (shrink)