We conduct the first comparative analysis of the financial performance of European green, black and conventional mutual funds. Based on a unique dataset of 175 green, 259 black and 976 conventional mutual funds, the investigation contrasts the financial performance of the three dissimilar investment orientations over the 1991–2014 period. Over the full sample period, green mutual funds significantly underperform relative to conventional funds, while no significant risk-adjusted performance differences between green and black mutual funds could be established during the same (...) period. Environmentally friendly investment vehicles display a significant exposure to small cap and growth stocks, while black funds are more exposed to value stocks. Remarkably, the green funds’ risk-adjusted return profile progressively improves over time until no difference in the performance of the green and the conventional classes could be discerned. Further evidence suggests that the green funds are beginning to significantly outperform their black peers, especially over the 2012–2014 investment window. (shrink)

Transparency International has consistently maintained two prominent assertions: that corruption remains a global threat because no human society in the world has a clean record, and that Africa is the most corrupt region in the world. These assertions raise some fundamental philosophical concerns. The former assertion re-opens the need to ascertain whether corruption is an essence of humans, or an acquired disposition. Howsoever this is resolved forms the fulcrum of concerns on the second assertion. This paper engages these philosophical concerns. (...) The paper takes two paths to achieve this goal. The first draws from Aristotle’s essentialism and Thomas Hobbes’ accounts on human nature to engage the debate on the relationship between human nature and corruption. The second derives and discusses the plausibility and fundamental implications of the claim that Africa is the most corrupt region in the world. It was found that neither on the basis of Aristotle’s nor Thomas Hobbes’, nor even a possible African cosmology as discussed, can it be said that official corruption is essential to humans. The paper concludes that what is at issue concerning corruption as measured by Transparency International pertains to different African expectations of recompense in a protective communalism from which relatives in public offices must have drawn care, now termed “corruption” by Transparency International, which is not so regarded in the African social order. (shrink)

This paper challenges the viability of argument from supervenience in defense of a physicalist position on the place of qualia, the subjective properties of consciousness, in a physical or material world. Physicalism, being an ontological thesis that asserts that the only things that really exist are either physical entities or properties, affirms that every mental attribute must be a physical attribute. However, the existence of a quale as an attribute of a mental state falsifies this affirmation. The physicalist argues that (...) qualia supervene on the physical properties in the human body, and that any problem about qualia is, just like any other scientific problem, resolvable scientifically, either in principle or in practice. This paper argues that supervenience is merely a report of the nature of reality, and not a justificatory ontological affirmation that qualia supervene on physical properties. The paper begins with a short description of physicalism and an account of qualia as distinctive character of consciousness. It further articulates and examines the physicalists’ use of the argument from supervenience to establish that qualia supervene on the physical elements in the world. The concluding part shows the errors in the argument from supervenience, and its implication for the truth of physicalism. (shrink)

There is a prevalent assumption that the phenomenal character of a mental experience is an ontological property existing as part of the fabric of the world. This implies that the problem of explaining the phenomenal property of a mental experience is a metaphysical one. Contrary to this assumption, the present paper argues that phenomenal properties of mental experiences are the results of our epistemological perspectives of the world. Consequently, the paper contends that in developing issues for African Philosophy of Mind, (...) care must, ab initio, be taken to avoid the metaphysical pitfalls of considering phenomenal characters or properties of mental states to be part of the fabric of the world. (shrink)

A thought is a mental state with a phenomenal aspect; it is essentially subjective. However, in Yorùbá thought system, a thought involves third persons or objective perspectival aspects. This is contrary to the nature of thoughts, hence the need to explain how the distinct properties of subjectivity and objectivity are found in Yorùbá thoughts system. The paper is divided into three parts. The first explores the nature of phenomenality in human mental states. The second explains that the Yorùbá thoughts system (...) is linked with the embodied cognitive system. It is argued that when an average Yorùbá thinks, such a thought is a dialogue between the first person and third persons or objects. The third part draws examples from Yorùbá thought system to illustrate the complementariness between the first-person character and the objective or external elements of mental state. (shrink)

Arguments against the plausibility of a scientific theory of consciousness are hinged on the ground that attached to mental consciousness are phenomenal properties, also known as qualia, which are not amenable to any scientific theory. This paper develops and defends a neuroidentity hypothesis that purports to show that qualia, which are identified as neuroqualia, are the same as some neurochemical interactions in the central nervous system. The neuroidentity hypothesis is offered as a possible way of moving closer to a probable (...) scientific theory of consciousness. (shrink)

This paper discusses the reproductive health knowledge of Nigerian in-school adolescents, with special reference to pregnancy occurrence at first coitus. The data were derived from an Association for Reproductive and Family Health (ARFH) survey carried out in four secondary schools in Ibadan, Nigeria, between August and October 1995. A total of 828 students were interviewed. The results revealed that the majority of sexually active adolescents were not aware of the consequences of their actions. Religious affiliation and number of wives in (...) a male adolescents parents, were found to influence adolescents’ knowledge of pregnancy probability at first coitus. This paper confirms earlier findings that the majority of Nigerian adolescents do not know the consequences of sex. Therefore, a clear-cut plan of action is needed to inform sexually active adolescents through an effective sex education programme. (shrink)

Institutional review boards distinguish health care quality improvement and health care quality improvement research based primarily on the rigor of the methods used and the purported generalizability of the knowledge gained. Neither of these criteria holds up upon scrutiny. Rather, this apparently false dichotomy may foster under-protection of participants in QI projects and over-protection of participants within QIR.