This study comparatively examines the dividends behavior in state-controlled firms versus family-controlled firms. With the sample of large industrial firms listed on the Main Board of Hong Kong Stock Exchange, we investigate the dividends payment rates, stability of dividends payment, the effects of firm size, profitability and growth opportunity on likelihood to pay dividends, as well as the concentration of dividend in state-controlled versus family-controlled firms. Based on the findings, we derive some ethical implications of dividends policy regarding the differences (...) in business ethical behavior, corporate social responsibility, corporate governance, business sustainability, and shareholder activism in state-controlled versus family-controlled firms, as well as the improvement in these respects through cross-listing in Hong Kong. (shrink)

In an ingenious argument, Ng and Singer claim to show that it is possible to derive the general principle of utility from another principle, Weak Majority Preference, which many who are not utilitarians would be prepared to accept. WMP does indeed sound acceptable: ‘For a community of N individuals choosing between two possibilities, X and Y, if no individual prefers Y to X, and at least individuals prefer X to Y, then X increases social welfare and is preferable’. But from (...) this seemingly innocuous rule, Ng and Singer maintain, quite substantial results follow if one takes account the well-established fact of intransitive indifference owing to the existence of finite sensibility. (shrink)

RÉSUMÉ: Plusieurs pensent qu’on devrait comprendre la personne qui fait le mal plutôt que la condamner. Le présent article suggère que les écrits de Sartre seraient en désaccord avec une telle approche. Lorsqu’on combat le mal, selon ce qu’indiquent ces écrits, il n’y a aucun besoin, si l’on sait qu’une personne fait le mal, d’essayer de la comprendre. La distinction de Sartre entre comprendre une personne et savoir quelque chose est présentée en détail, à partir surtout de ses écrits de (...) fiction et de sa biographie de Gustave Flaubert. En exploitant cette distinction, on arrive à la conclusion qu’il est superflu d’essayer de comprendre la personne qui fait le mal. Lorsque nous savons qu’une personne fait le mal, nous devons la combattre, directement et avec force. (shrink)

In an ingenious argument, Ng and Singer claim to show that it is possible to derive the general principle of utility from another principle, Weak Majority Preference, which many who are not utilitarians would be prepared to accept. WMP does indeed sound acceptable: ‘For a community of N individuals choosing between two possibilities, X and Y, if no individual prefers Y to X, and at least individuals prefer X to Y, then X increases social welfare and is preferable’. But from (...) this seemingly innocuous rule, Ng and Singer maintain, quite substantial results follow if one takes account the well-established fact of intransitive indifference owing to the existence of finite sensibility. (shrink)

Current arguments to increase shareholder power in the large public U.S. corporation need to take account of the well-established historical practice of extensive delegation by shareholders of business decision-making and agenda-control to management and the board, what might be characterized as an absolute delegation rule. This practice sharply limits the power of shareholders to put either business or governance proposals to the shareholders for dispositive resolution. The paper, originally published in 1991 but newly relevant, argues that the rule is based (...) on potential pathologies in shareholder voting rather than the inherent information asymmetry between shareholders and managers. Rational shareholders who know of this asymmetry (and know that others know) would simply vote against most shareholder proposals. But shareholder voting gives rise to potential cycling problems, as shifting shareholder majorities vie for preferred policies, and potential opportunism, as shareholders engage in side deals with management and other shareholders to extract rents in corporate decision-making. Since shareholding patterns are in part a response to control rights, deviations from the absolute delegation rule will predictably lead to greater block ownership, for defensive and offensive reasons. These concerns need to be addressed in arguments for the expansion of shareholder power. (shrink)

The principle of relativity, that there is no preferred state of uniform motion, has recently come into conflict with certain cosmological observations. In an attempt to overcome this difficulty, an alternative formulation is explored in which this principle is replaced by the principle of universal time, while retaining the invariance of the speed of light. These two postulates lead to a well-defined world model in which one inertial frame has a preferred status. But the invariance properties of the laws of (...) physics are unaffected, and the model may be regarded as a modified form of special relativity which is in accordance with the new cosmological evidence. (shrink)

Although J. S. Mill′s essay On Liberty was intended by its author to be read as a self-contained work, 1 and even though a careful reading would justify seeing it in this way, it has far too often been denied this right even by its defenders. There is a crucial distinction to be made between eliciting some point of substance from a particular work by an author and then turning to the rest of his work to throw further light on (...) it, and employing other texts from the corpus of his writings to put the construction on certain things said in it which the work by itself cannot sustain, thus treating the former as essentially a fragment, albeit a most important fragment, of a whole. 2 I would suggest that recourse to the latter course is justified only when the possibilities of treating it autarchically have already been explored. In this paper I propose to treat a celebrated text in the former way only because I believe that the results will show such an approach to be uniquely worthwhile, or at least fruitful enough to justify a paper conceived in this way. And, with a view to putting what I want to say about it in maximum focus I shall with one or two exceptions eschew giving supporting evidence from Mill′s other writings, even when this is permitted by the distinction I have made in this opening paragraph. (shrink)

This note is prompted by a re-reading of the late Professor J. L. Austin's British Academy Lecture of 1956 “Ifs and Cans” and Professor P. H. Nowell-Smith's rejoinder to it. Austin states his topic at the beginning, and though he re-formulates it more precisely later on, it will suffice for my purposes to quote the opening short paragraph. He asks: “Are cans constitutionally iffy? Whenever, that is, we say that we can do something, or could do something, or could have (...) done something, is there an if in the offing—suppressed, it may be, but due nevertheless to appear when we set out our sentence in full or when we give an explanation of its meaning?”. Towards the end of his lecture he states his conclusion concerning the issue, viz. determinism, which is usually prominent at least implicitly in our discussion of such questions, in the following terms: “Determinism, whatever it may be, may yet be the case, but at least it appears not consistent with what we ordinarily say and presumably think.”. (shrink)

In this paper, I present an obstacle to realizing John Rawls’s system of justice. The basic liberties have lexical priority, but they risk undermining fair equality of opportunity, because freedom of speech allows us to spread false prejudices. I present the obstacle through a pastiche of a notable fiction writer from the Indian sub-continent.

Realities of the formed information society made actual for inclusive education a problem of formation of professionals of the new directions capable to apply information technologies to improvement of interaction between participants of process of distance learning. Until recent time the institute of distance learning had no analogs in our educational system. It has to become one of the most important elements of the organization of remote education. Inclusive education becomes the new strategic direction of modern education in Russia, its (...) program of development to 2020 is designated by the Federal law ‘About the education in the Russian Federation‘ which has come into force on September 1, 2013. Ideas of inclusive training were born from a pressing need of society to help children to be integrated with features of development into society. Without it a creation of a new civilized society, the education system that meets the requirements of the humanistic principles is not possible. In this connection, creation of a substantial and technological basis of the organization of inclusive education of children in the mode of distance learning is an extremely important for today social, moral and pedagogical problem. In its center are the development of the subject, granting equal opportunities to each pupil to build the individual educational trajectory, culturological cultivation of the person capable to take an independent position in relation to external conditions. Distance learning serves as strong and active technology of socialization of such children. However, in the theory and a technique of training, the problem of distance learning of children with disabilities is insufficiently solved that is caused by unavailability of most of teachers to apply these technologies. There is a contradiction between objective practical need of distance learning for children with disabilities and insufficient readiness of a theoretical and technological basis. This is a main problem discussed in the study. In theoretical plan, it is a problem of development of the practical-focused theoretical and technological basis of distance learning of children with disabilities. On the practical level, it is a problem of formation of the subject information and education environment, designing of the contents, definition of methods, pedagogical technologies, the conditions of formation promoting achievement of the planned educational results and development of cognitive independent activity without prejudice to health of children on the basis of the accounting of their individual abilities. Technological effectiveness of the purposes is provided with prediction of educational results, their expression through requirements to actions of pupils. Recent time, children only start studying and mastering remote technologies therefore, first of all, they have to seize rational ways of educational activity and learn to work with information, i.e. priority value has to be allocated for formation of informative and logical and informative and information universal educational actions. (shrink)

The controversial French philosopher Jacques Derrida is associated with the claim that, in the West, speech has historically been prioritized over writing. In this paper, I present some obvious counterexamples, though I am an admirer. I also raise a challenge to the social theories of Pierre Bourdieu, though I fear they are not wrong. The paper is written as a pastiche of a notable fiction writer from the Indian subcontinent, but set in the West.

We dub the kyaa in (2a) polar kyaa, which we distinguish from the homophonous thematic kyaa ‘what’. in (3). In (3), kyaa is the theme argument of the verb diyaa ‘gave’. The same has been argued for the scope marking construction, at least under the indirect dependency approach (Dayal 1994 among others). The preverbal position has been argued to be the unmarked position for wh-words in Hindi-Urdu (Kidwai 2000, among others).

Creating memory during and after wartime trauma is vexed by state attempts to control public and private discourse. Science fiction author Iain Banks’ novel Look to Windward proposes different ways of preserving memory and culture, from posthuman memory devices, to artwork, to architecture, to personal, local ways of remembering.

Review by: Johanna N. Y. Franklin The Bulletin of Symbolic Logic, Volume 19, Issue 1, Page 115-118, March 2013.

En este volumen se ofrece un conjunto de estudios centrados en el análisis de las investigaciones realizadas hasta la actualidad sobre la toponimia de las diversas regiones de España, así como en la determinación de las lagunas existentes en la indagación de los nombres de lugar, es decir, los temas no acometidos todavía y las áreas aún pendientes de estudio, esbozando además en líneas generales las perspectivas de la investigación futura. Los capítulos han sido realizados por expertos en el estudio (...) de los nombres de lugar de cada región investigada, de acuerdo con una metodología homogénea: exposición del estado de la cuestión, con especificación de las áreas investigadas y comentario de los trabajos existentes de recopilación y de interpretación de nombres; trabajo que está aún pendiente de ser llevado a cabo: áreas geográficas todavía no atendidas y estratos histórico-lingüísticos no analizados aún; y proyectos de investigación en curso de realización. Esta obra colectiva resulta de interés excepcional no solo para especialistas en la lengua española y sus dialectos, sino en otras lenguas románicas y no románicas, ya que se incluyen capítulos relativos a la toponimia de las comunidades bilingües del país: Galicia, Asturias, Cataluña, Baleares, País Valenciano, País Vasco y Navarra. (shrink)

The Reeh-Schlieder theorem asserts the vacuum and certain other states to be spacelike superentangled relative to local fields. This motivates an inquiry into the physical status of various concepts of localization. It is argued that a covariant generalization of Newton-Wigner localization is a physically illuminating concept. When analyzed in terms of nonlocally covariant quantum fields, creating and annihilating quanta in Newton-Wigner localized states, the vacuum is seen to not possess the spacelike superentanglement that the Reeh-Schlieder theorem displays relative to local (...) fields, and to be locally empty as well as globally empty. Newton-Wigner localization is then shown to be physically interpretable in terms of a covariant generalization of the center of energy, the two localizations being identical if the system has no internal angular momentum. Finally, some of the counterintuitive features of Newton-Wigner localization are shown to have close analogues in classical special relativity. (shrink)