Recent perspectives on community investments suggest that they are opportunities for firms to create value for shareholders and other stakeholders. However, many corporate managers are still influenced by a widely held belief that such investments erode profits and are therefore unjustifiable from an agency perspective. In this paper, we refine and test theory regarding countervailing forces that influence community-based firm performance. We hypothesize that high levels of available slack will be associated with higher community-based performance, but that this relationship will (...) be moderated by three important governance variables: board independence, investment fund ownership, and CEO ownership. We find support for our hypotheses in longitudinal study of a large sample of U.S. corporations. (shrink)

Deep neural networks (DNNs) have had extraordinary successes in classifying photographic images of objects and are often described as the best models of biological vision. This conclusion is largely based on three sets of findings: (1) DNNs are more accurate than any other model in classifying images taken from various datasets, (2) DNNs do the best job in predicting the pattern of human errors in classifying objects taken from various behavioral datasets, and (3) DNNs do the best job in predicting (...) brain signals in response to images taken from various brain datasets (e.g., single cell responses or fMRI data). However, these behavioral and brain datasets do not test hypotheses regarding what features are contributing to good predictions and we show that the predictions may be mediated by DNNs that share little overlap with biological vision. More problematically, we show that DNNs account for almost no results from psychological research. This contradicts the common claim that DNNs are good, let alone the best, models of human object recognition. We argue that theorists interested in developing biologically plausible models of human vision need to direct their attention to explaining psychological findings. More generally, theorists need to build models that explain the results of experiments that manipulate independent variables designed to test hypotheses rather than compete on making the best predictions. We conclude by briefly summarizing various promising modeling approaches that focus on psychological data. (shrink)

This paper considers the problem of causal explanation in classical and statistical thermodynamics. It is argued that the irreversibility of macroscopic processes is explained in both formulations of thermodynamics in a teleological way that appeals to entropic or probabilistic consequences rather than to efficient-causal, antecedental conditions. This explanatory structure of thermodynamics is not taken to imply a teleological orientation to macroscopic processes themselves, but to reflect simply the epistemological limitations of this science, wherein consequences of heat-work asymmetries are either macroscopically (...) measurable (entropy) or calculable (probabilities), while efficient-causal relationships are obscure or indeterminable. (shrink)

Data science, and the related field of big data, is an emerging discipline involving the analysis of data to solve problems and develop insights. This rapidly growing domain promises many benefits to both consumers and businesses. However, the use of big data analytics can also introduce many ethical concerns, stemming from, for example, the possible loss of privacy or the harming of a sub-category of the population via a classification algorithm. To help address these potential ethical challenges, this paper maps (...) and describes the main ethical themes that were identified via systematic literature review. It then identifies a possible structure to integrate these themes within a data science project, thus helping to provide some structure in the on-going debate with respect to the possible ethical situations that can arise when using data science analytics. (shrink)

A fundamental claim associated with parallel distributed processing theories of cognition is that knowledge is coded in a distributed manner in mind and brain. This approach rejects the claim that knowledge is coded in a localist fashion, with words, objects, and simple concepts, that is, coded with their own dedicated representations. One of the putative advantages of this approach is that the theories are biologically plausible. Indeed, advocates of the PDP approach often highlight the close parallels between distributed representations learned (...) in connectionist models and neural coding in brain and often dismiss localist theories as biologically implausible. The author reviews a range a data that strongly challenge this claim and shows that localist models provide a better account of single-cell recording studies. The author also contrast local and alternative distributed coding schemes and argues that common rejection of grandmother cell theories in neuroscience is due to a misunderstanding about how localist models behave. The author concludes that the localist representations embedded in theories of perception and cognition are consistent with neuroscience; biology only calls into question the distributed representations often learned in PDP models. (shrink)

This paper argues that the notion of value has been overly simplified and narrowed to focus on economic returns. Stakeholder theory provides an appropriate lens for considering a more complex perspective of the value that stakeholders seek as well as new ways to measure it. We develop a four-factor perspective for defining value that includes, but extends beyond, the economic value stakeholders seek. To highlight its distinctiveness, we compare this perspective to three other popular performance perspectives. Recommendations are made regarding (...) performance measurement for both academic researchers and practitioners. The stakeholder perspective on value offered in this paper draws attention to those factors that are most closely associated with building more value for stakeholders, and in so doing, allows academics to better measure it and enhances managerial ability to create it. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:From the Sacrifice of the Letter to the Voice of TestimonyGiorgio Agamben’s Fulfillment of MetaphysicsJeffrey S. Librett (bio)By denying us the limit of the Limitless, the death of God leads to an experience in which nothing may again announce the exteriority of being, and consequently to an experience which is interior and sovereign. But such an experience, for which the death of God is an explosive reality, discloses as (...) its own secret and clarification, its intrinsic finitude, the limitless reign of the Limit, and the emptiness of those excesses in which it spends itself and where it is found wanting.—Michel Foucault, “Preface to Transgression”Can there be a discourse that, without being a metalanguage or sinking into the unsayable, says language itself and exposes its limits?—Giorgio Agamben, “The Idea of Language”I shall not rest until every German sees that it is a shameful thing to be a lawyer.—Adolf Hitler, speech before theReichstag, April 26, 1942From his early works on, Giorgio Agamben has opposed the thought of no contemporary philosopher more consistently and programmatically than that of Jacques Derrida, whose questioning of phonocentric metaphysics Agamben has tried to replace by a characterization of metaphysics as (what I am calling here) graphocentric. To go back behind the replacement of the voice by the letter is for Agamben to recover the event of language itself, the taking-place of language as Being.1 In his conceptualization of the project for such a recovery, as we shall see, Agamben’s commitment to Heidegger’s fundamental ontology is overdetermined by his investment in the Christian God as logos.This philosophical program in Agamben’s early essays guides his later work on the homo sacer-sovereign relation but also distorts and disturbs the later work in three principal ways. First, it prompts him to propose an exclusively juridicopolitical understanding of the sacredness of the homo sacer, effectively scapegoating the juridical sphere for a more broadly theopolitical problem, while placing the specifically Christian background [End Page 11] of his antinomianism in a misleadingly secular, rational, and universalist light. Symptomatically, in order to accomplish this juridicopolitical reduction Agamben must reject Bataille’s analysis of sacrifice—along with the entire modern anthropological reading of the sacred—out of hand. For this rejection protects his discourse against any sustained confrontation with the importance of the sacrificial dimension for both what he calls the homo sacer and his own approach to law in his theorization of the homo sacer..Second, Agamben’s philosophical program impoverishes the account he provides of the Nazi death camps as an extreme example of the sovereign-homo sacer relation by making it impossible for him to appreciate the importance of Christian antinomianism in the formation of National Socialist ideology. For Agamben’s philosophical orientation requires or presupposes that he ignore or underestimate, first of all, the sacrificially anti-Semitic dimension of Christian antinomianism—the tendency of such antinomianism to make Judaism responsible for the ontological desert into which representation exiles us all. Further, as a consequence of his continuing commitment to this tradition, Agamben cannot see how important the tradition remains, even if in a displaced form, for Nazi anti-Semitism. I argue that Agamben’s animus against the letter blinds him to the Christian and sacrificial dimensions of the Holocaust—he ignores the former and explicitly, emphatically denies the latter dimension—because this animus represents his own commitment to the Christian antinomianism that, in its racialized National Socialist form, attempts to rid itself of the letter by sacrificing not only Judaism but the (biologically, racially construed) Jews. Because his radically antinomian program would become unsettled by his recognition of its important overlap with the ideological bases of National Socialism, Agamben cannot ultimately acknowledge the Christian and sacrificial aspects of the Holocaust.Finally, in Remnants of Auschwitz—his main reading (outside of Homo Sacer) of the significance of the Nazi death camps—Agamben positions “testimony” as the exemplary instance of the speaking of speech, the taking-place of language. The result of the destruction of European Jewry becomes here the revelation of poetic speech as a manifestation of the absolute. Unwittingly, Agamben ends up participating in... (shrink)

Entropy and information are both emerging as currencies of interdisciplinary dialogue, most recently in evolutionary theory. If this dialogue is to be fruitful, there must be general agreement about the meaning of these terms. That this is not presently the case owes principally to the supposition of many information theorists that information theory has succeeded in generalizing the entropy concept. The present paper will consider the merits of the generalization thesis, and make some suggestions for restricting both entropy and information (...) to specific arenas of discourse. (shrink)

The aim of this paper is to examine the usefulness of the Machamer, Darden, and Craver (2000) mechanism approach to gaining an understanding of explanation in cognitive neuroscience. We argue that although the mechanism approach can capture many aspects of explanation in cognitive neuroscience, it cannot capture everything. In particular, it cannot completely capture all aspects of the content and significance of mental representations or the evaluative features constitutive of psychopathology.

The Securities and Exchange Commission requires publicly held US corporations to disclose all information, whether it is positive or negative, that might be relevant to an investor's decision to buy, sell, or hold a company's securities. The decisions made by corporate managers to disclose such information can significantly affect the judgments and decisions of investors. This paper examines academic accounting research on corporate managers' voluntary disclosures of earnings forecasts and non-GAAP earnings measures. Much of the evidence from this research indicates (...) that some managers engage in opportunistic disclosure behavior that often benefits one group (managers and shareholders) at the expense of other groups (often other investors). The paper concludes by discussing the ethical implications of this behavior. (shrink)

Christine Korsgaard claims that an agent is less than fully rational if she allows some attitude to inform her deliberation even though she cannot justify doing so. I argue that there is a middle way, which Korsgaard misses, between the claim that our attitudes neither need nor admit of rational assessment, on the one hand, and Korsgaard's claim that the attitudes which inform our deliberation always require justification, on the other: an agent needs reasons to opt out of her concerns (...) – not reasons to opt into them or to stay in. As long as an agent has no good reason to abandon some concern of hers, she is reasonable to harbour it, and to allow it to inform her view of what reasons she has. A rational agent must therefore have the capacity to form higher-order attitudes toward her concerns; but rationality only requires that she exercise that capacity when she has some good reason to do so. (shrink)

One vigorous line of thought in contemporary moral philosophy, which I shall call ‘Neo-Aristotelianism,’ centers on three things: a rejection of traditional enlightenment moral theories like Kantianism and utilitarianism; a claim that another look at the ethical concerns and projects of ancient Greek thought might help us past the impasse into which enlightenment moral theories have left us; more particularly, an attempt to reinterpret Aristotle’s ethical work for the late twentieth-century so as to transcend this impasse.

Stakeholder theory focuses on how more value is created if stakeholder relationships are governed by ethical principles such as integrity, respect, fairness, generosity and inclusiveness. However, it has not adequately addressed strategies that stakeholders perceive as harmful to their interests and how this perception can even lead some stakeholders to view the firm’s strategies as unethical. To fill the void, this paper directly addresses strategies that stakeholders perceive as harmful to their interests, or what we refer to as harmful stakeholder (...) strategies. Specifically, it identifies factors associated with stakeholder perceptions of harm that are likely to cause them to consider a strategy unethical, examines the negative implications for firms that pursue such strategies in terms of likely stakeholder responses and damage to stakeholder relationships, and provides theory to help explain how firms are likely to respond to stakeholder claims that a strategy is unethical, based on factors such as the strategic importance of the claim to the firm, how long the strategy has been in use, the costs of remediation, the risk of stakeholder mobilization or new regulation, and whether firms can reasonably rationalize their actions. Assessing harm allows a firm to make a more accurate estimate of the costs of a strategy and can assist managers in allocating resources intended to reduce or remediate harm. (shrink)

The stakeholder perspective has provided a rich forum for a variety of debates at the intersection of business and society. Scholars gathered for two consecutive years, first in North America, and then in Europe, to discuss the major issues surrounding what has come to be known as stakeholder theory, to attempt to find common ground, and to uncover areas in need of further inquiry. Those meetings led to a list of “tensions” and a call for papers for this special issue (...) to help address them. In this article, we introduce the resulting articles and provide some brief commentary on their importance. We end with a few of our own observations about the stakeholder perspective and stakeholder research. (shrink)

Do firms respond to changes in economic growth by altering their corporate social responsibility programs? If they do respond, are their responses simply neglect of areas associated with corporate social performance or do they also cut back on positive programs such as profit sharing, public/private housing programs, or charitable contributions? In this paper, we argue that because CSP-related actions and programs tend to be discretionary, they are likely to receive less attention during tough economic times, a result of cost-cutting efforts. (...) However, the various CSP performance areas vary in terms of their resource requirements and their influence on financial performance, which suggests that firms may respond differently depending on area. Consequently, in addition to examining CSP concerns separately from positive actions and programs, we also examine the influence of economic growth across the five areas of diversity, employee relations, the environment, product quality/safety, and the community. Based on data from 837 firms over 15 years, our results suggest that firms neglect some areas associated with CSP during economic downturns, resulting in increased concerns about community and employee relations, product safety/quality, and the environment. However, this relationship does not apply to positive actions and programs. Instead, firms tend to increase their positive CSP programs in areas such as diversity, employee relations, and the environment during periods of slow economic growth and reduce them when the economy picks up. We offer potential explanations for our findings and discuss their importance to research on CSP. (shrink)

Part of the accepted scholarly lore about Kierkegaard is that he holds that “existence”—human existence—and “the System” are mutually incompatible. For Kierkegaard, human being cannot be understood in terms of a nice, neat, complete systematic package; he shows, on this view, that the Hegelian attempt to grasp all of reality in terms of a philosophical system will always fail to grasp the reality of at least one thing: the concrete, living, existing individual human being.

"What is whole on earth? … [D]oesn't this building of the times upon each other make the whole of our species into a formless monstrous structure [zum unförmlichen Riesengebäude], where one carries away what another began to build, where what never should have been built remains standing and in centuries finally everything becomes One Ruin [Ein Schutt], amongst which, the more broken and crumbling it is, the more confidently the hesitating people live?" "Johann Gottfried Herder, Ideen zur Philosophie der Geschichte (...) der Menschheit1"With the subordination of Church to State introduced by the principle of “cuius…. (shrink)

This book is an empirical study of global citizenship education in ten secondary schools in the United States and Asia. Proponents seek to equip students with the consciousness and competencies necessary to make a world of universal benevolence, peace, and prosperity. However, many of the moral assumptions of global citizenship education are more complex and contradict these goals, and are just as likely to have the unintended consequence of reinforcing a more particular Western individualism. Dill argues that global citizenship education (...) in its current forms has significant limits that proponents have not yet acknowledged, which may very well undermine it in the long run. (shrink)

Sibley et al. (2008) report a recurrent neural network model designed to learn wordform representations suitable for written and spoken word identification. The authors claim that their sequence encoder network overcomes a key limitation associated with models that code letters by position (e.g., CAT might be coded as C‐in‐position‐1, A‐in‐position‐2, T‐in‐position‐3). The problem with coding letters by position (slot‐coding) is that it is difficult to generalize knowledge across positions; for example, the overlap between CAT and TOMCAT is lost. Although we (...) agree this is a critical problem with many slot‐coding schemes, we question whether the sequence encoder model addresses this limitation, and we highlight another deficiency of the model. We conclude that alternative theories are more promising. (shrink)

This study modelled associations between gender, ruminative cognitive style, alcohol use, and the time course of negative affect over the course of 43,111 random assessments in the natural environment. Participants completed 49 days of experience sampling over 1.3 years. The data indicated that rumination at baseline was positively associated with alcohol dependence symptoms at baseline as well as higher negative affect over the course of the study. Consistent with negative reinforcement models, drinking served to decrease the persistence of negative affect (...) from moment to moment. However, this ameliorative effect of drinking was evident only among women, suggesting an increased risk for negative reinforcement driven drinking behaviour. In addition, rumination appeared to counteract the desired effects of alcohol on mood among women. This suggests that women who ruminate more may be motivated to consume larger amounts of alcohol to achieve the desired effects. Overall, the results indicate that ruminative cognitive style and the persistence of negative affect from moment to moment may reflect an individual vulnerability for the development of alcohol use disorder especially among women. (shrink)