This paper explores how managers’ and supervisors’ equity incentives impact the likelihood of committing corporate fraud in Chinese-listed firms. Previous research has shown that corporate fraud in China is a widespread phenomenon and has severe consequences for affected firms and executives. However, our understanding of the reasons that fraud is committed in a Chinese setting has been very limited thus far. This is an increasingly important topic, because corporate governance is rapidly changing in China, and it is unclear whether adopting (...) the executive compensation practices of the West is appropriate for Chinese firms. We show that managers’ equity incentives increase their propensity to commit corporate fraud. We also find that this effect is more pronounced for state-owned firms. However, we find a negative but not significant relationship between the equity incentives of the supervisory board and the incidence of fraud. (shrink)
The work of French philosopher Maurice Merleau-Ponty touches on some of the most essential and vital concerns of the world today, yet his ideas are difficult and not widely understood. Lawrence Hass redresses this problem by offering an exceptionally clear, carefully argued, critical appreciation of Merleau-Ponty's philosophy. Hass provides insight into the philosophical methods and major concepts that characterize Merleau-Ponty's thought. Questions concerning the nature of phenomenology, perceptual experience, embodiment, intersubjectivity, expression, and philosophy of language are fully and systematically discussed (...) with reference to main currents and discussions in contemporary philosophy. The result is a refreshingly jargon-free invitation into Merleau-Ponty's important and transformational way of understanding human experience. (shrink)
: I argue that Irigaray's linguistic research is not merely supplementary to her theoretical writing, but, in its depiction of sexed linguistic "styles," illuminates Irigaray's call for a new syntax. I show the effect of this research on her analysis of the unconscious meaning of interrogative expressions. I address the question of Irigaray's standing as a social scientist and argue that attention to her method reveals her positive program in this domain.
A perceptive and evocative mixture of memory, philosophical interrogation, and criticism, the essays in What Light Can Do, finely attuned to the pleasures and pains of being human, are always grounded in the beauty of the material world and ...
This paper examines the effectiveness of public enforcement by studying the effects of regulatory intervention to curb tunneling through intercorporate loans in China. Specifically, we explore whether public enforcement efforts in 2006 resulted in less tunneling, and ultimately in increased performance for tunneling firms. We show that tunneling is among the dominant factors increasing the likelihood of becoming blacklisted. We also find that firms’ tunneling mechanisms decreased significantly after the regulatory shock, and that their performance increased significantly compared to non-tunneling (...) firms after the regulatory shock. Finally, we find a positive market reaction to the public announcement of tunneling both for firms that have been blacklisted and other tunneling firms that are not blacklisted. Collectively, these results suggest that public enforcement in the presence of a credible threat succeeds in deterring the effect on tunneling behavior in China. (shrink)
This paper examines the relationship between performance persistence and corporate governance. We document systematic differences in performance persistence across listed companies in China during 2001–2011, and empirically demonstrate that firms with better corporate governance show higher performance persistence. The results are robust over both the short and long terms. We also find that performance persistence is an important factor in refinancing, and it can lower companies’ costs of borrowing. Overall, our findings offer important implications for business ethics, as we demonstrate (...) how corporate governance can lower companies’ costs of debt. (shrink)
Most of us, at one time or another, will have been struck by a thought that we might wish to express in the following words: ‘I could have been born in a different time and place, my position in life and all my personal characteristics could have been completely different from what they are; how amazing then that it should have fallen to my lot to live my life, the only life I shall ever live, as this particular individual rather (...) than any other.’ This thought need not derive from a sense that there is anything unusual about one's life; what it expresses, rather, may be the sense that there is something gratuitous or contingent about one's being any particular individual at all. This sense of contingency might be connected with a feeling of gratitude, perhaps of responsibility towards others less fortunate in life; or it might be bound up with envy, or pride, or self-pity, etc. (shrink)
Lars Porsena Or the Future of Swearing Robert Graves Originally published in 1927 "Not for squeamish readers." Spectator "A deliciously ironical affair." Bystander "Humour and style are beyond criticism." Irish Statesman As relevant now as when it was first published, this volume and its ironic look at the political correctness of society has become a classic of the Today & Tomorrow series. 90pp Breaking Priscian’s Head Or English As She Will Be Spoke and Wrote J Y T Greig Originally (...) published in 1928 "The most vehement attack we have ever read." Morning Post "A rollicking book" Spectator This volume discusses the nature of language, grammar, the influence of America, of slang dialect and many other subjects. 90p **************** Delphos The Future of International Language E Sylvia Pankhurst Originally published in 1927 In this volume, Sylvia Pankhurst argues that an international language would be one of the greatest assets to modern civilization. She surveys past attempts from the sixteenth to the early twentieth centuries and predicts the arrival of the inter-language, its form, its social and cultural utility and its influence for world peace. 90pp Pomona or the Future of English Basil de Sélincourt Originally published in 1926 "Equal to anything yet produced in this brilliant series." Spectator An analysis of the present condition of the English language and the paths along which it is progressing. 88pp. (shrink)
The form of Western mainstream film is the crux of its ideological efficiency: by using established formal techniques, films ensure audiences un- derstand that aesthetic decisions support and clarify the narrative to ensure maximum spectatorial satisfaction. However, some films exploit their formal aesthetics in order to prevent clarification, thwarting satisfaction in favour of viewing practices that can be considered perverse in that they withhold, suspend or obstruct immediate pleasure. Contemporary Western filmmaking in the mid-1990s witnessed the emergence of a distinct (...) group of filmmakers and films that, in the popular discourse of cinematic criticism, were together coded as difficult or perverse. These films were, as a result of the characteristics we identify below, situated obliquely in relation to the larger economic and artistic struc- tures of a commercially oriented mainstream cinema. Included in this new form of cinematic production were films from directors such as Tim Burton: Edward Scissorhands ; David Cronenberg: eXistenZ ; David Fincher: Se7en ; Peter Greenaway: The Baby of Maçon ; David Lynch: Lost Highway ; Quentin Tarantino: Pulp Fiction and Lars von Trier: Breaking the Waves . Whilst Western cinema as a whole has a long history of exploring difficult or perverse material within the overt or covert content of narrative, plot and story, such films demonstrate a particular relationship between the content being explored and the specific formal characteristics utilised in the delivery of that content. Thus where previous examples would utilise standardised formal techniques as a way of both delivering and containing the difficult or objectionable material, the films instead offer instances where the material of the narrative content seems to bleed backwards, affecting the form and rendering the very materiality of the film itself suspect and problematic. (shrink)
This is an entertaining and intelligent book on a subject we often have preconceptions about, which the author takes delight in showing to be false. It is an interesting blend of philosophy and social science, which is not an easy combination to get to work properly. Sometimes when it is not well done the reader gets the impression that a lot of half-digested facts are being thrown at her and a bit of theory is then used to try to vaguely (...) tie it all together. Here the facts work with the theory nicely, the detail of loneliness in different countries and communities gives us some idea of how to explore the notion conceptually, and deepens the account of loneliness as a complex idea. Svendsen is excellent on the... (shrink)