This study examines the participation and interaction of relevant individuals in the process of developing an accounting standard for South Korea’s emission trading scheme (ETS). Despite the enormous accounting implications of such schemes, there is a paucity of research on the development and application of ETS accounting. Ulrich Beck’s and Anthony Giddens’s risk society framework is utilised to scrutinise the process of setting accounting standards—from the agenda-setting stage all the way to the final publication of the standard. In this case (...) study, we take an interpretive approach in analysing the rich data collected through face-to-face interviews with prominent standard-setters, accounting experts and representatives of industry and government. Participant observation and relevant documents were also considered. The findings highlight the political nature of accounting standard-setting and identify the risks and responsibilities of the key agents in the process along with the means of sub-political action taken to influence decisions. We reveal that the agents involved in standard-setting attempted to balance their anthropocentric priorities with ecocentric responsibilities and prioritised the production of a standard with minimal impact on economic, reputational, and operational risk. Having authority as a standard-setter, referring frequently to precedents and, perhaps most importantly, engaging actively with the stakeholders throughout the process seem to have contributed to a widely accepted standard, which can serve as a benchmark for future attempts to factor in ETSs. (shrink)

A variety of stakeholders including investors, corporate managers, customers, suppliers, employees, researchers, and government policy makers have long been interested in the relationship between the financial performance of a corporation and its commitment to business ethics. As a subject of research, the relations between business ethics and corporate valuation has yet to be thoroughly quantified and investigated. This article is an effort to amend this inadequacy by demonstrating a statistically significant association between ethical commitment and corporate valuation measures. Consistent with (...) anecdotal evidence, we have found a significant association between the ethical commitment of Korean companies and their valuation on the Korean stock market. However, the result reveals that the association between ethical commitment and financial performance is not significantly supported. (shrink)

Based on a questionnaire survey, this study is the first to systematically focus on Mongolian managers' perceptions of BE. As such, this paper (1) examines Mongolian managers' views of BE, (2) compares BE perceptions in Mongolia to those in the USA, Japan and Korea, and (3) identifies differences and similarities between the four national groups. We find that unethical practices exist and are quite common in Mongolia, where nearly half of the respondents have experienced ethical conflicts during their career. These (...) conflicts mostly arose in relation to respondents' superiors and colleagues and were related to fairness or discrimination. The results indicate that in their (un)ethical decision-making, Mongolian mangers are situational, but also place importance on the behaviour of their superiors. Finally, situational questions revealed that unlike respondents from the other three national groups, Mongolian managers do not see a significant difference between their own BE attitudes and those of an average manager. (shrink)

This study examines the relationship between corporate commitment to business ethics and financial reporting quality. We posit that companies with a higher level of ethical commitment exhibit better quality financial reporting than those with a lower level of ethical commitment. Consistent with our prediction, we find that companies with a higher level of ethical commitment are engaged in less earnings management, report earnings more conservatively, and predict future cash flows more accurately than those with a lower level of ethical commitment. (...) We also find that corporate commitment to business ethics has perpetuating effects on future financial reporting quality. (shrink)

John F. Henry is an eminent economist who has made important contributions to heterodox economics drawing on Adam Smith, Karl Marx, Thorstein Veblen, and John Maynard Keynes. His historical approach offers radical insights into the evolution of ideas (ideologies and theories) giving rise to and/or induced by the changes in capitalist society. Essays collected in this festschrift not only evaluate John Henry's contributions in connection to Marx's and Veblen's theories, but also apply them to the socio-economic issues in the 21st (...) century. In Part I leading heterodox economists in the traditions of Marxism, Post Keynesianism, and Institutionalism critically examine Marx's and Veblen's theoretical frameworks (and their connections to each other) that have become the foundations of heterodox economics. Chapters in Part II showcase alternative theoretical explanations inspired by Marx, Veblen, and Henry. Topics in this Part include financial crisis, financialization, capital accumulation, economics teaching, and the historical relationship between money and class society. Part III is devoted to John Henry's heterodox economics encapsulated in his "farewell" lecture, interview, and bibliography. Essays in this book, individually and collectively, make an important point that the history of economic thought (or historical analysis of economic theory and policy) is an integral part of developing heterodox economics as an alternative theoretical framework. Anyone who is troubled by the recurring failure of capitalism as well as mainstream economics will find this book well worth reading. (shrink)

A variety of stakeholders have long been interested in the factors that are related to firm valuation. This article investigates why companies with more comprehensive corporate governance (CG) have a value premium over companies with less comprehensive CG. We posit and find that the cost of equity capital (COC) decreases with the strength of CG, suggesting that the value premium stems from the lower COC for more comprehensive CG. We also find that the COC is lower for companies with strong (...) commitment to business ethics (BE) than for those with weak commitment to BE and that the beneficial effect of CG on the COC is more pronounced for companies with weak commitment to BE than for those with strong commitment to BE. Companies with more comprehensive CG tend to exhibit strong commitment to BE, but the beneficial effect of corporate ethical commitment is not completely subsumed by CG. Our results suggest that companies could lower their cost of equity capital and increase firm value by adopting more comprehensive CG practices and committing to higher standards of BE. (shrink)

This study investigates the effects of cultural orientation and the degree of disdain for robots on the preferred conversational styles in human-to-robot interactions. 203 participants self-reported on questionnaires through a computer-based online survey. The two requesting situations were intended to simulate the participants’ interactions with humanoid social robots through an Internet video-phone medium of communication. Structural equation modeling was performed to examine the mediating role of mechanistic disdain between multicultural orientation and conversational constraints. The findings reveal that between the two (...) dimensions of multicultural orientation, only open-mindedness inversely influences mechanistic disdain. Mechanistic disdain, in turn, negatively affects three face-related conversational constraints, thereby leading to a lesser concern for robots’ feelings, for minimizing impositions on robots, and for avoiding robots’ negative evaluations. The implications of our findings on humans’ relations with virtual robot entities and on the future development of humanoid robots are discussed. (shrink)

This study investigates the effects of cultural orientation and the degree of disdain for robots on the preferred conversational styles in human-to-robot interactions. 203 participants self-reported on questionnaires through a computer-based online survey. The two requesting situations were intended to simulate the participants' interactions with humanoid social robots through an Internet video-phone medium of communication. Structural equation modeling was performed to examine the mediating role of mechanistic disdain between multicultural orientation and conversational constraints. The findings reveal that between the two (...) dimensions of multicultural orientation, only open-mindedness inversely influences mechanistic disdain. Mechanistic disdain, in turn, negatively affects three face-related conversational constraints, thereby leading to a lesser concern for robots' feelings, for minimizing impositions on robots, and for avoiding robots' negative evaluations. The implications of our findings on humans' relations with virtual robot entities and on the future development of humanoid robots are discussed. (shrink)

Background:While nursing ethics education is commonly provided for undergraduate nursing students in most nursing colleges, consensus on the content and teaching modules for these ethics courses have still not been established.Objectives:This study aimed to examine the effects of nursing ethics education on the moral sensitivity and critical thinking disposition of nursing students in Korea.Research design:A one-group pre- and post-test design was used. Moral sensitivity was measured using the Korean version of the Moral Sensitivity Questionnaire. Critical thinking disposition was measured using (...) the Critical Thinking Disposition Questionnaire.Participants and research context:Participants were 70 undergraduate nursing students who were attending a university located in Seoul, Korea. The nursing ethics education was provided 7 times, from September to December 2010, and comprised 90-min sessions each week.Ethical considerations:This study was conducted in accordance with the Human Subject Research Ethics Committee guidelines.Findings:After the education, the levels for the patient-oriented care, a sub-domain of moral sensitivity, and inquisitiveness, a sub-domain of critical thinking disposition, significantly improved. There were no changes in overall scores for moral sensitivity and critical thinking disposition. There were significant positive correlations between moral sensitivity and critical thinking disposition both pre- and post-intervention.Conclusion:These results reflect the need for ongoing efforts to develop innovative content, structure, and instructional methods for undergraduate nursing ethics education programs. (shrink)

This study examined how leaders’ moral competence is linked to employees’ task performance and organizational citizenship behaviors. Based on a sample of 102 employee–supervisor pairs from seven organizations in South Korea, the results of this study revealed that leaders’ moral competence was positively associated with employees’ task performance and organizational citizenship behaviors toward leaders (OCBS). As expected, employees’ psychological empowerment partially mediated the relationship between leaders’ moral competence and employees’ task performance and OCBS. Furthermore, person–supervisor fit (PS fit) moderated the (...) relationship between leaders’ moral competence and employees’ psychological empowerment such that the relationships became stronger for individuals higher rather than lower in PS fit. (shrink)

People are often involuntarily laid off from their jobs through no fault of their own. Employees who are dismissed in this manner cannot always legitimately hold employers accountable for these miserable situations because the decision to implement layoffs is often the best possible outcome given the context—that is, layoffs in and of themselves may be “necessary evils.” Yet, even in circumstances in which layoffs qualify as “necessary evils,” morality demands that employers respect the dignity of those whose employment is involuntarily (...) terminated. In this paper I argue that to preserve the dignity of employees who are involuntarily terminated, in most cases employers have a substantial reason to offer a special kind of unemployment benefit, “severance pay.” To support my claim I draw and expand upon Bernard Williams’s analysis of “agent-regret,” which I believe greatly helps to address and articulate employers’ obligations in the context of involuntary termination. (shrink)

ABSTRACT:In this article I inquire into Confucian ethics from a non-ideal stance investigating the complex interaction between Confucian ideals and the reality of the modern workplace. I contend that even Confucian workers who regularly engage in social rites at the workplace have an internal, Confucian reason to appreciate the value of rights at the workplace. I explain, from a Confucian non-ideal perspective, why I disagree with the presumptuous idea that labor (or workplace) rights are necessarily incompatible with Confucian ideals and (...) values. Specifically, I argue that if managers were “sages,” the highest moral exemplars and authorities in the Confucian tradition, they would perceive that social rituals alone are often not a contextually intelligent and valued response for the development of intimate communities in the modern workplace. The sage perspective will lead Confucian managers to realize, from their own moral perspective, that they have good reason to balance rites with rights, so long as the adoption is extrinsically valuable and consistent with the Confucian ideal. This article contributes to the debates about Confucianism's compatibility with rights, helps Western human rights scholars better contextualize their arguments in Confucianism-influenced cultures, and contributes to the development of a Confucian or Chinese approach to business ethics. (shrink)

The Anticipatory and Consummatory Interpersonal Pleasure Scale is a psychometric instrument that has been used to indirectly measure social anhedonia in many cross-cultural contexts, such as in Western, European, Eastern, and Israeli samples. However, little is known about the psychometric properties of the ACIPS in Korean samples. The primary goal of this study was to validate the Korean version of the ACIPS among non-help-seeking individuals. The sample consisted of 307 adult individuals who had no current or prior psychiatric history. Participants (...) were administered the ACIPS, along with the Behavioral Inhibition and Behavioral Activation Scales and Beck Depression Inventory. We examined the association of the total ACIPS scores with the other measures. The ACIPS showed good internal consistency. We also explored the factor structure of the Korean translation of the ACIPS using principal component analysis with Promax rotation and Kaiser normalization. Factor analysis yielded a three-factor structure that accounted for 58.8% of the variance. The three-factor model included the following subdomains: interactions involving close relationships, casual interactions, and interactions involving family members. Total BAS and BIS scores were significantly associated with total ACIPS scores, while BDI scores were inversely associated with total ACIPS scores. The current research indicates that the Korean version of the ACIPS is a useful and valid scale. Future directions include using the Korean translation of the ACIPS to elucidate the varying degrees of hedonic capacity in psychiatric patients. (shrink)

ABSTRACT:We argue that Confucianism makes a fundamental contribution to understanding why civility is necessary for a morally decent workplace. We begin by reviewing some limits that traditional moral theories face in analyzing issues of civility. We then seek to establish a Confucian alternative. We develop the Confucian idea that even in business, humans may be sacred when they observe rituals culturally determined to express particular ceremonial significance. We conclude that managers and workers should understand that there is a broad range (...) of morally important rituals in organizational life and that managers should preserve and develop the intelligibility and integrity of many of these rituals. (shrink)

The massive introduction of artificial intelligence has triggered significant societal concerns, ranging from “technological unemployment” and the dominance of algorithms in the work place and in everyday life, among others. While AI is made by humans and is, therefore, dependent on the latter for its purpose, the increasing capabilities of AI to carry out productive activities for humans can lead the latter to unwitting slavish existence. This has become evident, for example, in the area of social media use, where AI (...) programmers tie psychology and persuasion to the human social need for approval and validation in ways that few users can resist. We argue that AI should serve humans with humans as masters and not the other way around. Moreover, we propose that virtue ethics might play a role to solidify the human as master of AI and guard against the alternative of AI as the master. (shrink)

Stable and enduring cooperative relationships among people are primarily based on mutual trust. However, little evidence exists about the effects of mutual trust between supervisor and subordinate on work outcomes. To understand better the dynamics of trust in supervisor–subordinate relationships, we examined how mutual trust between supervisor and subordinate is associated with work outcomes. Based on a sample of 247 subordinate–supervisor pairs, multilevel analyses revealed a positive effect of perceived mutual trust on task performance and interpersonal facilitation after controlling for (...) trust in leader and felt trust. In addition, task performance and interpersonal facilitation increased as trust in leader and felt trust or trust in subordinate both increased. (shrink)

This longitudinal study examined how nursing students' moral judgment changes after they become qualified nurses working in a hospital environment. The sample used was a group of 80 nursing students attending a university in Suwon, Korea, between 2001 and 2003. By using a Korean version of the Judgment About Nursing Decisions questionnaire, an instrument used in nursing care research, moral judgment scores based on Ketefian's six nursing dilemmas were determined. The results were as follows: (1) the qualified nurses had significantly (...) higher idealistic moral judgment scores than the nursing students; (2) the qualified nurses showed significantly higher realistic moral judgment scores than the nursing students; and (3) when comparing idealistic and realistic moral judgment scores, both the qualified nurses and the nursing students had higher scores for idealistic moral judgment. Further study is recommended to examine changes in moral judgment. (shrink)

ABSTRACT:We discuss workers’ dignity in hierarchical organizations. First, we explain why a conflict exists between high-ranking individuals’ authority and low-ranking individuals’ dignity. Then, we ask whether there is any justification that reconciles hierarchical authority with the dignity of workers. We advance a communitarian justification for hierarchical authority, drawing upon Confucianism, which provides that workers can justifiably accept hierarchical authority when it enables a certain type of social functioning critical for the good life of workers and other involved parties. The Confucian (...) communitarian perspective shows that promoting workers’ good life or well-being is an important condition for protecting their dignity. (shrink)