This study examines whether penalties issued to Chinese listed companies by securities regulators for violations of corporate law affect the cost of debt, and the moderating role of corporate social responsibility fulfillment on this relationship. Our sample consists of firms listed on Shanghai and Shenzhen stock exchanges from 2011 to 2017 and the data are collected from the announcements of China Securities Regulatory Commission. The findings are as follows: punishment announcements by regulatory authorities increase the cost of debt; and the (...) effect of punishment announcements on the cost of debt is partially offset by prior CSR performance. These findings are shown to be robust. The reputation insurance effect of CSR is more pronounced in state-owned enterprises and in an institutional environment with low marketization, a weak legal environment, and low information transparency. The findings support the reputation insurance hypothesis of CSR and employ the cost of debt as a governance mechanism. (shrink)

這部書論述的主題，是從歷史與思維活動兩個角度，對人的存在所牽涉的種種問題，進行探討。我們對本書主題的契入方式，是放在對人本身的兩個層次的瞭解之上。第一個層次是：由於人類是理性的動物，思考是隸屬於人性的 自然活動。我們是自然的思考者，我們也是歷史的思考者；第二層面則是：我們每天的生活中，牽涉到許多人和事，經由我們每天所接觸的人與事的累積而形成歷史，所以，歷史也是人性的自然。所以，人類是歷史與理性的動物 ，理性與歷史是人性中的兩個基本特點。這部書稿之所以訂名為《歷史與思考》，便是奠基於人性中這兩個基本特質之上。.

This study investigates the interaction between suppliers and fraudulent customer firms from the perspective of reputation damage and reputation recovery. Specifically, reputation damage from the regulatory penalty for corporate fraud induces the trust crisis and suppliers respond to fraudulent firms by reducing the trade credit supply. To repair a damaged reputation and rebuild the trust, fraudulent firms raise the ratio of prepayment to purchase volume when purchasing from small suppliers and increase the proportion of purchase from large suppliers in the (...) next year. Channel analysis shows that the declining trust is one of potential mechanisms to reduce the trade credit. Furthermore, the negative effect is more pronounced for fraudulent firms with non-related party suppliers, higher supplier concentration, less analyst coverage, and for fraudulent firms located in regions with less-developed financial environment. Additionally, supplier sanctions have a spillover effect on non-fraudulent customer firms in the same industry. The conclusions are robust to a series of checks, including PSM–DiD, firm and year fixed effect, the alternative measure for trade credit financing, the industry-year fixed effect and the consideration of the monetary policy and financial crisis. (shrink)

Perceptual attention is essential to both thought and agency, for there is arguably no demonstrative thought or bodily action without it. Psychologists and philosophers since William James have taken attention to be a ubiquitous and distinctive form of consciousness, one that leaves a characteristic mark on perceptual experience. As a process of selecting specific perceptual inputs, attention influences the way things perceptually appear. It may then seem that it is a specific feature of perceptual representation that constitutes what it is (...) like to consciously attend to an object. In fact conscious attention is more complicated. In what follows, I argue that the phenomenology of conscious attention to what is perceived involves not just a way of perceptually locking on to a specific object. It necessarily involves a way of cognitively locking on to it as well. (shrink)

We provide the first comprehensive and robust evidence on the relationship between CSR disclosure quality and the costs of corporate bonds in China. We find that firms with high CSR disclosure quality are associated with lower costs of corporate bonds. Our findings are robust to endogeneity issues arising from reverse causality, omitted variable bias, and the interdependencies between price and non-price terms. The negative relationship between CSR disclosure quality and the costs of corporate bonds is stronger in weak corporate governance (...) firms and in firms located in regions with weak institutional environments. We also find that firms’ misconduct significantly mitigates the influence of CSR disclosure quality. In the additional analyses, we provide evidence that CSR disclosure can offer incremental information beyond the credit ratings. Regarding non-price terms, we conclude that firms with higher quality of CSR information are less likely to be subject to collateral terms, but they tend to include more restrictive covenants. Further analyses also show that compared with low-quality or mandatory CSR disclosure firms, bond investors perceive firms with CSR disclosures rated above “A” categories or voluntary CSR disclosure as less likely to cause asymmetric information problems and thus charge lower risk premiums. Overall, this study demonstrates that CSR disclosure quality is an important determinant that affects both price and non-price bond contract terms. (shrink)

Autonomous learning capacity is a key competency that supports teachers’ professional development. In this study, a stratified sampling method was used to recruit 396 junior and senior high school mathematics teachers in T city, one of the provincial city in China. A questionnaire with high reliability and validity developed prior to the study by the researchers was employed to measure their autonomous learning capacity and differences across groups. Twelve teachers were then selected for interviews. The results showed satisfactory overall performance. (...) By subdimension, teachers’ performance was the best in the development of study plans, followed by evaluation of learning outcomes, while they needed improvement in learning habit formation and proficiency in using learning methods. Furthermore, the analysis of differences across groups indicated that for autonomous learning capacity, female teachers were significantly better than their male peers; junior high school teachers were better compared to those in senior high school; teachers aged 41–50 underperformed those aged 51 and above; teachers who work in rural areas and townships did not perform worse than urban teachers; and those with doctoral degrees did not demonstrate considerable advantage over others. There were no significant differences in the overall autonomous learning capacity across years of teaching and job title groups. However, in the subdimensions, those with 21–30 years of teaching experience had lower proficiency in using learning methods and evaluation of learning outcomes, and teachers with senior titles did not demonstrate expected advantages in learning habit formation. (shrink)

This article provides a detailed overview of the neuroscience of consciousness.

Using data from China, where the identity of engagement auditors is disclosed, we find significant relationships between engagement auditors’ negative experiences and the costs of corporate bonds. Further tests differentiate field and review auditors’ experiences, and we find that both field and review auditors’ negative experiences are significantly related to higher costs of corporate bonds. In addition, we find that the above results are significant only when the engagement auditors are affiliated with non-Big10 audit firms. Using path analysis, we find (...) that credit rating is a possible channel through which information on engagement auditors’ negative experiences can transfer to bond investors. Regarding non-price terms, we conclude that engagement auditors with negative experiences are associated with smaller bond sizes, shorter bond maturities, a higher likelihood of requiring collateral, and more restrictive covenants. Further analyses also show that the effects of engagement auditors’ negative experiences on the costs of corporate bonds are less pronounced for well-governed firms. To show that our results obtained from China’s corporate bond market are relevant to loan markets, we replicate the above tests using a Chinese sample, and the results from the loan market are consistent with those from the corporate bond market. Overall, our empirical results suggest that investors are indeed concerned with engagement auditors’ negative experiences. (shrink)

This paper considers the connection between automaticity, control and agency. Indeed, recent philosophical and psychological works play up the incompatibility of automaticity and agency. Specifically, there is a threat of automaticity, for automaticity eliminates agency. Such conclusions stem from a tension between two thoughts: that automaticity pervades agency and yet automaticity rules out control. I provide an analysis of the notions of automaticity and control that maintains a simple connection: automaticity entails the absence of control. An appropriate analysis, however, shows (...) that actions are forms of control and pervasively automatic even if automaticity implies the absence of control. Consequences are drawn for the theory of mental agency and the psychological concepts of automaticity and control. (shrink)

ABSTRACT Academic dishonesty has remained high in Chinese college students. We examined Chinese college senior students’ everyday academic practices, especially academic dishonesty, considering the contextual changes inside and outside higher learning settings in China. Data were collected from 120 college seniors from four universities and were analyzed using a qualitative content-based exploratory approach in NVivo 10. Three themes were identified, including college seniors’ perceptions of academic dishonesty, contextual influences on academic dishonesty, and seniors’ personal attitudes about academic misconduct. Interview results (...) indicated that the contextual changes have reduced cheating both at the national level and at the college level; however, some contextual factors stubbornly remain unchanged, suggesting that the current, contextual climate on and beyond the Chinese college campuses should be restructured, not necessarily exclusively using top-down approaches. A theoretical model was provided to illustrate mechanisms associated with these students’ academic misconduct. Suggestions are discussed regarding future research and implications made for university personnel practice. (shrink)

本书收《祖坟——叛逆与创作》、《绍兴闲话》、《寰宇觅知音》、《油画的联想》、《漓江》等百余篇文章。.

本书以专题的形式对哲学的一些基本理论、基本知识作了既有一定理论深度又有比较通俗易懂的阐述.

本书介绍了康德至善概念的含义是什么?是自由和自然的一致。基于至善而设定的上帝存在的含义是什么?只有当自由和自然协调为一时,上帝才会降临。.

本书分为7篇共18章,大致分三部分,包括论人性的属性、特征,以及欲求自我实现的机制和形态;论欲求的各种法则以及欲望变化的无穷趋势;论恶欲的产生和对立给个人及国家带来的灾难等内容。.

abstract Mou Zongsan used to say that in Western philosophy there exist three different traditions. The first is the tradition of Plato and Aristoteles, the second is the tradition of Kant and Hegel, and the last is the tradition of Leibniz and Russell. I am afraid, however, that this kind of interpretation is already outdated and incapable of encompassing the rich variegations of Western philosophy as a whole. In my view, the various options would have been exhausted by supplementing the (...) preceding list with the tradition founded by Husserl and Heidegger and the one set up by Whitehead. All of these traditions together encapsulate the most important domains of philosophy, such as ontology, epistemology, and axiology. In this article I closely investigate the epistemological thought of Bertrand Russell in order to find out whether it contains any aspects from which we can borrow and learn. (shrink)

本书庋集吴氏法学著述二十五篇,概分为三大部分。吴氏与霍姆斯大法官的部分通信和著名的《吴氏宪草》,作为附录,一并收刊。.

本文集收入“传统道德文化的继承与批判”、“中国传统文化的现代化意义”、“关于中国传统道德和文化的几个问题”等文章61篇。.

Ever since Charles Goodwin’s seminal works on gaze, there has been a long-standing interest in Conversation Analysis in the interrelationship between talk and bodily conduct in the accomplishment of social action. Recently, a small but emerging body of research has explored the ways in which embodied conduct figures in the organization and operations of repair. In this article, I take up a similar theme and investigate the interaction between talk and iconic gestures in same-turn self-initiated repair in Mandarin conversation. The (...) phenomenon I examine concerns the use of what I call “gestural repair.” The analysis focuses on how such repair can intertwine with talk in multi-stage operations in the progressivity and resolution of repair. The data are drawn from 50 hours of naturally-occurring conversations collected in China. Some unique features of such gestural repair observed in the Mandarin data are also discussed. (shrink)

This article compares the use of Romantic metaphor with the Chinese literary device xiang 象 (which I translate as “thing-metaphor”) in regard to how they embody different metaphysical relations between humans and things. Whereas Romantic metaphor transports a physical thing to the immaterial realm of imagination, xiang is a literary device in which the material qualities of the thing, while creatively interpreted to generate human meaning, retain ontologically a strong physical presence. Xiang therefore epitomizes a theory of creation that challenges (...) the Western dualistic paradigm: that the poet creates not virtual copies of the thing, but meanings of the thing, and therefore our relationships with things. The article concludes with Heidegger’s discourses on metaphor to suggest that my discussion of thing-metaphor has universal applicability. (shrink)