In this study, we examine the relation between corporate environmental responsibility and risk in U.S. public firms. We develop and test the risk-reduction, resource-constraint, and cross-industry variation hypotheses. Using an extensive U.S. sample during the 1991–2012 period, we find that for U.S. industries as a whole, CER engagement inversely affects firm risk after controlling for various firm characteristics. The result remains robust when we use firm fixed effect or an alternative measure of CER using principal component analysis or downside risk (...) measures. To address the concern of endogeneity bias, we use a system equations approach and dynamic system generalized methods of moment regressions, and continue to find that environmentally responsible firms experience lower risk. These findings support the risk-reduction hypothesis, but not the resource-constraint hypothesis, along with the notion that the top management in U.S. firms is generally risk averse and that their CER engagement facilitates their risk management efforts. Our cross-industry analysis further reveals that the inverse CER-risk association mainly comes from the manufacturing sector, whereas in the service sector, CER tends to increase firm risk. (shrink)

This study examines the impact of corporate social responsibility activities on insider trading. While opponents of insider trading claim that the buying or selling of a security by insiders who have access to non-public information is illegal, proponents argue that insider trading improves economic efficiency and fairness when corporate insiders buy and sell stock in their own companies. Based on extensive U.S. data of insider trading and CSR engagement, we find that both the number of insider transactions and the volume (...) of insider trading are positively associated with CSR activities.We also find that legal insider transactions are positively related to CSR engagement even after controlling for potential endogeneitybias and various firm characteristics. Furthermore, our evidence suggests that firms perceive adjustment to CSR dimension of product as being efficient, while adjustment to diversity and environmental CSR as being inefficient. Our results of bad and illegal insider trading proxies are consistent with the interpretation that firms with high CSR ratings do not attempt to engage in unethical or bad insider trading in a significant fashion. Combined together, we consider our empirical evidence supportive of the fairness and efficiency explanation, but not the unfairness and inefficiency hypothesis. (shrink)

Li Zehou 李澤厚, one of the outstanding contemporary thinkers, coins the term “emotio-rational structure” for his ethical theory. Li emphasizes a balanced and integrated structure of emotion and reason, and the core of this structure is an innovative combination of Kantian rationalism and Confucian ethics. Li admires Immanuel Kant’s rational ontology of ethics, but criticizes his exclusion of human emotion and desire. Li advocates complementing Kantian rationalism with the Confucian ethics of emotion, which he calls “emotion as substance”. He believes (...) that such a balanced structure of emotion and reason will offer inspiration to a changing world... (shrink)

For more than a century scholars both inside and outside of China have undertaken the project of modernizing Confucianism, but few have been as successful or influential as Li Zehou (b. 1930). Since the 1950s, Li's extensive efforts in this regard have in turn exerted a profound influence on Chinese modernization and resulted in his becoming one of China's most prominent social critics. To transform Confucianism into a contemporary resource for positive change in China and elsewhere, Li has reinterpreted major (...) ideas and concepts of classical Confucianism, including a rereading of the entire Analects, replete with his own philosophical speculations derived from other Chinese and Western traditions (most notably, the ideas of Kant and Marx), and developed an aesthetical theory that has proved especially far-reaching. Although the authors of this volume hail from East Asia, North America, and Europe and a wide variety of academic backgrounds and fields of study, they are unanimous in their appreciation of Li's contributions to not only an evolving Confucian philosophy, but also world philosophy. They view Li first and foremost as a sui generis thinker with broad global interests and not one who fits neatly into any one philosophical category, Chinese or Western. This is clearly reflected in the chapters included here, which are organized into three parts: Li Zehou and the Modernization of Confucianism, Li Zehou's Reconception of Confucian Philosophy, and Li Zehou's Aesthetical Theory and Confucianism. Together they form a coherent narrative that reveals how Li has, for more than half a century, creatively studied, absorbed, and reconceptualized the Confucian ideational tradition to integrate it with Western philosophical elements and develop his own philosophical insights and original theories. At the same time, he has transformed and modernized Confucianism for the purpose of both coalescing with and reconstructing a new world cultural order. (shrink)

In this study, we examine the empirical association between corporate social responsibility and information asymmetry by investigating their simultaneous and endogenous effects. Employing an extensive U.S. sample, we find an inverse association between CSR engagement and the proxies of information asymmetry after controlling for various firm characteristics. The results hold using 2SLS considering the reverse side of information asymmetry influencing CSR activities. The results also hold after mitigating endogeneity based on the dynamic panel system generalized method of moment. Furthermore, the (...) CSR–information asymmetry relation is amplified in high-risk firms due to managers’ efforts to build a good reputation. Last, we find that CSR engagement is inversely associated with reputational risk measure and lower predicted value of reputational risk is positively associated with lower information asymmetry measures. We interpret these results as supporting the stakeholder theory-based, reputation-building explanation that considers CSR engagement as a vehicle to build and maintain firm reputation thereby enhancing the information environment. (shrink)

The issue of management’s relations to the environment has received a significant amount of attention in the literature on corporate social responsibility. Yet the influence of religion on managers’ environmental decisions has until now remained unexamined despite its known importance. In this article, we examine the empirical association between religion—primarily Christianity—and the environmental practices a firm’s management undertakes by investigating their OLS, principal component, simultaneous, and endogenous effects. Employing a large and extensive U.S. sample, we find a negative association between (...) the environmental practices initiated by a firm’s managers and the religiosity of the surrounding community, after controlling for various firm and demographic characteristics. In addition, after mitigating endogeneity with the dynamic system generalized method of moment, we still find an inverse association between religiosity and environmental-friendly decisions of management. We interpret these results as providing some support for the “dominion hypothesis” that claims Christian beliefs discourage environmental concern, but not for the “stewardship hypothesis” that implies that Christianity encourages people to “exercise a responsible stewardship over nature.” Nevertheless, additional analysis shows Christian groups differ significantly in how each influences managers’ environmental decisions. (shrink)

Confucius reinvented the concept of Junzi （君子）, an idea of personhood which invites continual assessment whether the concerns people were once devoted to are worthy of ongoing devotion, and how they make a place in the world—a place where they hope they can exercise some governance in their lives. Junzi （君子）is a agent, and has the properties and powers to monitor their lives, and to contribute to societal transformation. Cultivating a person is centrally involved in the politics of subjectivity, in (...) forming and constituting the self because self always reflects the bounds and conventions of its history. The term Junzi （君子）is harnessed to make the individual a significant element for the state through the exercise of a form of power. So this kind of self-mastery incorporates notions of governmentality, freedom and the historical–social context to understandings of the self. So if we understand that the essence of civil society consists in agency-building self-transformation, there is ample evidence that Confucius was committed to reconstructing moral agency and civil society in a way that would be characteristically Confucian. Junzi (君子) is the case in point. (shrink)

本书内容包括:“从来善恶须分明”;“善恶到头终有报,只争来早与迟来”;“苦海无边,回头是岸”等。.

本书是一本汇集古今中外法律名著经典论述并加以简单评点的书,传播先进的法治思想和理念,树立先进的、文明的执法理念。.

ABSTRACT:We examine whether religion influences company decisions related to corporate community involvement. Employing a large US sample, we show that the CCI initiatives of a company are positively associated with the level of Christian religiosity present in the region within which that company’s headquarters is located. This association persists even after we control for a wide range of firm characteristics and after we subject our results to several econometric tests. These results support our religious morality hypothesis which holds that companies (...) headquartered in regions with higher levels of Christian religiosity will engage in more CCI initiatives. We also find that while Catholic and mainline Protestant religiosity have a positive influence on firms’ CCI initiatives, evangelical Protestant religiosity does not. This supports our differentiated responses hypothesis which holds that institutional differences among religious groups will produce different effects on companies’ CCI. This hypothesis is based on institutional theory. (shrink)

The World Bank recently noted: “Social license to operate has traditionally referred to the conduct of firms with regard to the impact on local communities and the environment, but the definition has expanded in recent years to include issues related to worker and human rights”. In this paper, we examine a factor that can influence the kind of work conditions that can facilitate or obstruct a firm’s attempts to achieve the social license to operate. Specifically, we examine the empirical association (...) between a company’s employee practices and the religiosity of its local community by investigating their fixed and endogenous effects. Using a large and extensive U.S. sample, we find a positive association between the “employee friendly” practices of a firm and the religiosity of the local community after controlling for several firm characteristics. In addition, after mitigating endogeneity with the dynamic panel system generalized method of moment and after employing several other econometric tests, we still find a robust positive association between the religiosity of the local community and employee-friendly practices. Since recent research has shown that the firm’s treatment of its stakeholders is a key to achieving an SLO, and since employees constitute a highly significant stakeholder group, we interpret our results as supporting the view that religion is an important influence on the kinds of employee practices that can increase the likelihood that a firm will acquire the SLO. (shrink)

Workforce diversity has received increasing amounts of attention from academics and practitioners alike. In this article, we examine the empirical association between a firm’s workforce diversity and the degree of religiosity of the firm’s management by investigating their unidirectional and endogenous effects. Employing a large and extensive U.S. sample of firms from the years 1991–2010, we find a positive association between a measure of the firm’s commitment to diversity and the religiosity of the firm’s management after controlling for various firm (...) characteristics. In addition, after controlling for endogeneity with the dynamic panel generalized method of moment, we still find a positive association between the firm’s diversity and management’s religiosity. We interpret these results as supportive of the religious motivation explanation that views the firm as a human community and considers religion as a factor that influences managers to more positively embrace diversity. Our results, however, provide no support for the resource-constraint hypothesis that views the firm as a nexus of contracts and sees managers as aiming to maximize shareholder returns under resource constraints that force them to invest only in projects that have a positive net present value and reject diversity initiatives since these do not have a positive NPV. (shrink)

Collections are a group of multimeric proteins mostly consisting of 9–18 polypeptides organised into either ‘bundle‐of‐tulips’ or ‘X‐like’ overall structures. Each polypeptide contains a short N‐terminal segment followed by a collagen‐like sequence and then by a C‐terminal lectin domain. A collectin molecule is assembled from identical or very similar polypeptides by disulphide bonds at the N‐terminal segment, formation of triple helices in the collagen‐like region and clusters of three lectin domains at the peripheral ends of triple helices. These proteins can (...) bind to sugar residues on microorganisms via the peripheral lectin domains and subsequently interact, via the collagen‐like triple‐helices, with receptor(s) on phagocytes and/or the complement system to bring about the killing and clearance of the targets without the involvement of antibodies. The collectins can also bind to phagocyte receptor(s) to enhance phagocytosis mediated by other phagocytic receptors. Lack, or low levels, of collectin expression can lead to higher susceptibility to infections, especially during childhood when specific immunity has not fully developed. Therefore, the collectins play important roles in the enhancement of innate immunity. (shrink)

Scholars have generally agreed that correlative thinking represents a defining feature of traditional Chinese thought, and their discussions on this enduring mode of thinking have led to a better understanding of the Chinese intellectual and cultural tradition. Although scholars have seldom looked into the causes of the formation of early Chinese correlative thought, some of their discussions have provided inspiration for further investigation.A number of scholars have indicated that the concept of resonance was a fundamental factor in Chinese correlative thinking. (...) For example, both Hellmut Wilhelm and Joseph Needham asserted that, in correlative thinking, order, pattern, and symbolic correlation or.. (shrink)

This study examines the influence of Christian religion on corporate decisions related to human rights in the United States. Specifically, it examines the empirical association between a company's human rights practices and the Christian religiosity in its local community, as well as individual CEO religiosity in the United States, both of which have not been tested in prior studies. Employing a large sample from the United States, we find a congruent association between the “human rights friendly” practices of a company (...) and the Christian religiosity of the local community. This novel finding is robust to a diverse set of tests. In addition, we find that the association between Christian religiosity in the United States and human rights is more significant in reducing human rights concerns, than it improves human rights strengths. This study interprets these results as upholding the religious morality hypothesis, namely, that companies located in areas with higher religiosity are likely to engage in more human rights-friendly practices, and the United States. Christians consider religion as an influencing factor that encourages managers to embrace human rights. Furthermore, this study finds that individual religious managers tend toward more human rights-friendly practices, supporting our religious manager hypothesis. (shrink)

The Buddhist master Fazang is regarded as one of the greatest metaphysicians in medieval Asia.

Each of us bears a unique name given to us at birth. When people use your name, they typically refer to you. But what is the linkage that ties a name to a person and hence allows it to refer? Li's book approaches this question of reference empirically through the medium of referential intuitions. Building on the literature on philosophical and linguistic intuitions, she proposes a linguistic-competence-based account of referential intuitions. Subsequently, using a series of novel experiments, she investigates the (...) variation of referential intuitions across different cultures, as well as the developmental trajectory and the underlying causes of the observed cultural differences. What she finds is that the cultural patterns of referential intuitions are already in place around age seven, and the differences are largely attributable to the distinct perspective taking strategies favoured by easterners and westerners, rather than the moral valence of actions involved in the experimental materials. These results are taken to better support referential pluralism (in particular, the ambiguous view) than referential monism. By undertaking this fascinating research, Li's book provides new insights into the cognitive mechanisms underlying people's referential usage of names. It will be valuable to students and scholars of linguistics, philosophy of language and experimental philosophy, and in particular, to those who research into semantic intuitions and theories of reference. (shrink)

The Aṣṭasāhasrikā Prajñāpāramitā Sūtra criticizes the traditional practice of dwelling in an isolated place for self-cultivation and advocates returning to the human realm with a liberated mind and compassionate engagement. This new theory of detachment aims at defining the Bodhisattva, a new ideal character, for the rising Mahāyāna movement. In his theory of eremitism at court, Guo Xiang 郭象 describes a sage image of governing the empire with a detached mind. This image is invested with the concept of self-liberation from (...) reality and defines a new ideal character that actively engages in sociopolitical affairs while becoming freed from personal concerns. Guo Xiang’s sage image is similar to the Bodhisattva image in several aspects, and textual and historical evidence shows that Guo likely read the two early translations of the Aṣṭasāhasrikā and other Buddhist texts and was influenced by them to a certain extent. With the influence of Buddhist ideas, Guo completed the Mysterious Learning’s mission of harmonizing the teaching of names with spontaneity. (shrink)

Yì 義 presents dual categories in classical Confucian conception. The first category is ethical-role duty originated from Zhou 周 ritual culture, which was a set of social norms defining ethical duties that fit each person’s role and status in the kinship group and society and regulating what was appropriate for a person’s behavior. The second category is moral conscience and rightness resulted from the internalization of social norms and ethical duties. From Confucius to Mencius, Xunzi 荀子, and others, while inheriting (...) and elaborating yì’s ethical implication of role duty from Zhou ritual culture, they also gradually internalized yì to become the subject’s moral conscience of doing right things. During this process, classical Confucianism gradually formed an ethico-moral conception of yì as both role duty and moral rightness that abridged the dual categories of social norms for interpersonal relations and moral values for personal autonomy. (shrink)

This article proposes to challenge the generally accepted argument that early Chinese cosmology transcended questions of gender by presenting a new analysis of the Xian 咸 and other relevant hexagrams in the Classic of Changes, as well as their classical commentaries. This new study shows that, the concept of the resonant gendered relation of husband and wife played a significant role in constructing social relations and cosmological modes implied in this significant classic. The harmonious husband–wife relation was placed at the (...) center of the social, political, and cosmic order. This may be one reason that from about the same period, Confucian moral and political philosophy always emphasized the importance of ordering one’s family before governing the state. In this sense, the Chinese cosmology, as seen in the Classic of Changes, does not transcend gender; on the contrary, it is gendered. (shrink)

The Platform Sūtra presents a variety of concepts, but in the deeper plane all these concepts can be roughly induced as a reinterpretation of enlightenment and a description of Chan’s distinctive experience of enlightenment. Through a sophisticated display of ontological paradox, the sūtra integrates tathāgatagarbha thought with prajñā wisdom to illuminate why enlightenment is possible for ordinary people in their existential life experience. Following the claim of tathāgatagarbha and earlier Chan texts that all sentient beings possess Buddha-nature, the sūtra further (...) blurs the line between empirical mind and pure nature and endows the mind-nature unity with the transcendental implication of original enlightenment. At the same time, the sūtra points out the emptiness and nonattachment of the mind-nature with the doctrines of no-thought, no-form, and no-abiding, which are grounded in the prajñāparamita and Madhyamika literature. For the soteriological-methodological concern, the Platform Sūtra applies the Awakening of Faith’s theory of “two aspects of one-mind” to advocate seeing one’s originally enlightened mind-nature directly from the perception of true reality. This perceptional experience of enlightenment solves the dilemmatic relationship between the two key soteriological categories of ignorance and enlightenment in the Buddhist tradition. As a result, the sūtra emphasizes the approach of sudden awakening and reinterprets samādhi and prajñā as both identically, simultaneously, and inseparably representing the experience of enlightenment. Through metaphors of transmission of Dharma genealogy, ordination genealogy, platform, and even the Platform Sūtra itself, Huineng is presented as a “living Buddha” or successful enlightenment experience by an ordinary person. (shrink)

The belief in heaven's mandate (tianming 天命) in earlier documents referred to divine‐ethical sanctions of political rulers. It later developed multiple implications such as an individual's destiny or fate and became one of the most fundamental concepts in Chinese intellectual and cultural history. In modern times, this concept has received long‐lasting attention in the field of Chinese philosophy, and almost all major scholars have more or less been involved in discussions and debates, especially on the topic of the classical Confucian (...) conception of heaven's mandate. Their discussions on this topic have largely focused on two major controversies: (i) whether early Confucians view heaven's mandate as prescriptive ethical command or descriptive amoral fate, and (ii) whether their attitude toward heaven's mandate is voluntarist or fatalistic. While this scholarship has been fruitful and insightful, it has continued for almost a century with certain variants. Therefore, it is time to address this topic with new approaches and hermeneutic horizons. In this essay, I propose a new approach and horizon to viewing the classical Confucian conception of heaven's mandate as their reflections on individual existence and self‐realization under the constraints of mandate or destiny. I examine the texts associated with Confucius and Mencius such as the Analects and the Mencius, as well as some recently unearthed texts, to suggest that early Confucians accommodate individual initiative and self‐determination of life choices through their conceptualization of heaven's mandate. To them, the vocabulary of heaven's mandate empowers individuals, especially through situating their places in society and the cosmos. By knowing and standing firmly on one's mandate or destiny, the individual not only realizes the value of their existence but also goes beyond the ultimate destiny of death. This fresh reading of heaven's mandate is grounded in the context of the development of Confucian ideas in the early period and presents an optimistic vision of Confucian humanism. (shrink)

Situated within the framework of Confucian family-oriented ethics, this book explores the issue of familial partiality and specifically discusses whether it is morally praiseworthy to love one's family partially. In reviewing the tension between familial partiality and egalitarian impartiality from different perspectives while also drawing on binary metrics to understand the issue - that is, the weak and strong sense of familial partiality in Confucian moral theory - the author carefully discusses the efficacy of three major arguments to justify moral (...) partiality. It is concluded that the tree argument fails to justify moral partiality in Confucianism, the evolutionary argument only justifies moral partiality in the weak sense that we should devote more resources to our family, and the care argument fails to justify moral partiality in the strong sense that family takes priority in any case even at the expense of the principle of justice. Seeking to address the quandary, the author advances an alternative argument based on Thomas Aquinas' theory of love to interpret Confucian view of partial relationships, holding that partial treatment is assumed in partial relationships. The title will appeal to scholars and students interested in Confucianism, Chinese Philosophy, Moral Philosophy, and Comparative Philosophy. (shrink)

Presents Li Zehou's culminating views on ethics in a series of works that highlight the importance of Confucian philosophy today.

Few would deny that something ontologically depends on something else. Given that something depends on something, what depends on what? Huayan Buddhism 華嚴宗, a prominent Chinese Buddhist school, is known for its extensive thesis of interdependence, according to which everything depends on everything else. This intriguing thesis is entangled with seemingly paradoxical claims that everything is not only identified with everything else but also contained within it. Moreover, the radical thesis of interdependence entails that dependence is pervasive and symmetric. In (...) this paper, I first develop a contemporary interpretation of Huayan interdependence by employing the definitional account of essence and the essence-based account of dependence. Through these contemporary resources, I elucidate and unify the theses of interdependence, mutual identity, and mutual containment within Huayan Buddhism. I then propose a unique framework of ontological dependence that suggests varying degrees of ontological dependence, aimed at accommodating and explaining away our intuitions against pervasive and symmetric dependence. By contemporizing Huayan Buddhism, I explore its potential and facilitate engagement between contemporary metaphysics and Huayan Buddhism. (shrink)

According to Zhiyi 智顗 (538–597), the founder of the Chinese Buddhist Tiantai school 天臺宗, “one object is all objects;” hence, all objects are profoundly interconnected. In this paper, I critically examine Zhiyi’s metaphysics of objects as presented in the historical Tiantai texts and subsequently develop a contemporary and accessible thesis of interconnectedness by integrating Zhiyi’s views with resources from contemporary analytic philosophy, particularly relative identity. By drawing on Zhiyi’s insights and incorporating contemporary philosophical ideas, I also illustrate how historical Chinese (...) Buddhism and contemporary analytic metaphysics can be mutually informing. (shrink)