A novel explanation of belief bias in relational reasoning is presented based on the role of working memory and retrieval in deductive reasoning, and the influence of prior knowledge on this process. It is proposed that belief bias is caused by the believability of a conclusion in working memory which influences its activation level, determining its likelihood of retrieval and therefore its effect on the reasoning process. This theory explores two main influences of belief on the activation levels of these (...) conclusions. First, believable conclusions have higher activation levels and so are more likely to be recalled during the evaluation of reasoning problems than unbelievable conclusions, and therefore, they have a greater influence on the reasoning process. Secondly, prior beliefs about the conclusion have a base level of activation and may be retrieved when logically irrelevant, influencing the evaluation of the problem. The theory of activation and memory is derived from the Atomic Components of Thought-Rational (ACT-R) cognitive architecture and so this account is formalized in an ACT-R cognitive model. Two experiments were conducted to test predictions of this model. Experiment 1 tested strength of belief and Experiment 2 tested the impact of a concurrent working memory load. Both of these manipulations increased the main effect of belief overall and in particular raised belief-based responding in indeterminately invalid problems. These effects support the idea that the activation level of conclusions formed during reasoning influences belief bias. This theory adds to current explanations of belief bias by providing a detailed specification of the role of working memory and how it is influenced by prior knowledge. (shrink)

The study aims to measure the link between CSR and economic growth. This study investigates whether CSR expenses shown by the banks are contributing to the sustainability of an emerging economy like India. For this study, CSR spending of 21 commercial banks, on nine development areas of the Indian economy, the human development index of India, and its indicators along with the growth rate of GDP of India and state-wise GDP for the year 2014-2015 to 2017-2018 have been (...) taken as secondary data. The research techniques used are the case analysis method, correlation, and descriptive analysis. The study highlights that CSR activities are more of a myth and a far-reaching possibility in developing nations like India, where most institutions are engrossed in such activities to gain laurels and secure investors from the globe. (shrink)

Consciousness has long been a subject of interest in philosophy and religion but only relatively recently has it become subject to scientific investigation. Now, more than ever before, we are beginning to understand this mental state. Developmental psychologists understand when we first develop a sense of self; neuropsychologists see which parts of the brain activate when we think about ourselves and which parts of the brain control that awareness. Cognitive scientists have mapped the circuitry that allows machines to have some (...) form of self awareness, and neuroscientists investigate similar. (shrink)

Consciousness has long been a subject of interest in philosophy and religion but only relatively recently has it become subject to scientific investigation. Now, more than ever before, we are beginning to understand this mental state. Developmental psychologists understand when we first develop a sense of self; neuropsychologists see which parts of the brain activate when we think about ourselves and which parts of the brain control that awareness. Cognitive scientists have mapped the circuitry that allows machines to have some (...) form of self awareness, and neuroscientists investigate similar circuitry in the human brain. Research that once was separate inquiries in discreet disciplines is converging. List serves and small conferences focused on consciousness are proliferating. New journals have emerged in this field. A huge number of monographs and edited treatises have recently been published on consciousness, but there is no recognized entry point to the field, no comprehensive summary. This encyclopedia is that reference. Organized alphabetically by topic, coverage encompasses a summary of major research and scientific thought regarding the nature of consciousness, the neural circuitry involved, how the brain, body, and world interact, and our understanding of subjective states. The work includes contributions covering neuroscience, psychology, philosophy, and artificial intelligence to provide a comprehensive backdrop to recent and ongoing investigations into the nature of conscious experience from a philosophical, psychological, and biological perspective. (shrink)

The human conceptual system comprises simulated information of sensorimotor experience and linguistic distributional information of how words are used in language. Moreover, the linguistic shortcut hypothesis predicts that people will use computationally cheaper linguistic distributional information where it is sufficient to inform a task response. In a pre‐registered category production study, we asked participants to verbally name members of concrete and abstract categories and tested whether performance could be predicted by a novel measure of sensorimotor similarity (based on an 11‐dimensional (...) representation of sensorimotor strength) and linguistic proximity (based on word co‐occurrence derived from a large corpus). As predicted, both measures predicted the order and frequency of category production but, critically, linguistic proximity had an effect above and beyond sensorimotor similarity. A follow‐up study using typicality ratings as an additional predictor found that typicality was often the strongest predictor of category production variables, but it did not subsume sensorimotor and linguistic effects. Finally, we created a novel, fully grounded computational model of conceptual activation during category production, which best approximated typical human performance when conceptual activation was allowed to spread indirectly between concepts, and when candidate category members came from both sensorimotor and linguistic distributional representations. Critically, model performance was indistinguishable from typical human performance. Results support the linguistic shortcut hypothesis in semantic processing and provide strong evidence that both linguistic and grounded representations are inherent to the functioning of the conceptual system. All materials, data, and code are available at https://osf.io/vaq56/. (shrink)

Contemporary hormonal therapy for the menopause has its conceptual origins in the ancient tradition of organotherapy. The popular but pharmacologically inactive precursors of hormonal therapy were developed as part of a resurgence of interest in organotherapy in the 19th century, which coincided with increasing medicalization of the menopause and the view that the ovaries were responsible for the ‘feminine’ identity and wellbeing of women. The subsequent chemical identification of oestrogens allowed the development of pharmacologically active hormonal therapy for the menopause, (...) which was probably first used clinically in the late 1920s. Around this time, emphasis shifted from the ovaries to oestrogen as being responsible for femininity and health, with the menopause and ageing increasingly defined as oestrogen deficiency diseases. Hormonal therapy for the menopause was first used predominantly for women who had a premature menopause. In the 1960s, universal prescription was increasingly promoted as a way of preventing diseases of later life and the perceived ‘defeminization’ of women by menopause. Scientific evidence regarding the risks and benefits of hormonal therapy for the menopause has been accruing over the last 70 years; its interpretation has been affected by background beliefs regarding the effects of oestrogen and the menopause on women. (shrink)

This paper was written to commemorate the 20th anniversary of the University of Nottingham’s Easter School on “Issues in Agricultural Bioethics,” organized by Ben Mepham in 1993. At that time, agricultural ethics was being envisioned as an interdisciplinary sub-discipline comparable to that of medical ethics. Agricultural ethicists would co-operate with other agricultural faculty to produce careful articulation, analysis and critique of norms and values being implicitly assumed by agricultural researchers, practitioners and policy makers. Roughly two factors have conspired to substantially (...) limit the realization of that vision in the intervening 20 years. First, the institutional environment within agricultural universities was far less conducive to such an activity than medical schools. Second, while the rise of a food-oriented social movement might have provided new opportunities for food ethics, the social movement orientation has actually constrained the kind of philosophical work typically undertaken by bioethicists. The paper ends with a brief note calling for a renewal of the original vision. (shrink)

Ernst Mach’s philosophical ideas were warmly received in America, which already had a pragmatist tradition close to Machian empiricism and budding schools of philosophy, psychology, and physics more or free of the neo-Kantian influences which were a strong academic competitor to the spread of empiricism in Europe. The founding pragmatists Charles Sanders Peirce and William James engaged directly with Mach and Paul Carus, the editor of the Monist and publisher of the Open Court press actively translated and published Mach’s works (...) for the American public. A generation later when members of the Vienna Circle sought Academic posts in elite American universities, the ground was well prepared for their arrival as Holton and Stadler have described. Beneath the surface however, the American reaction to Mach was not one of naïve admiration but fairly staunch criticism, which Mach himself appreciated and welcomed. Peirce was highly critical of Mach’s mechanics in a review and Peirce famously described Mach’s empiricism as akin to riding a horse to death. In some ways, Peirce himself had anticipated aspects of Mach’s views on mind and body, a surprising discovery I made recently. Even Carus, who declared himself an admirer, was highly critical of Mach’s theory of economy of thought. James, too, who admired Mach greatly, had major disagreements with Mach on so-called sensations of innervation in psychology, and although’s James’ own radical empiricist essays owed much to Mach’s neutral monist ideas in the Analysis, James broke away from what he saw as Mach’s excessive physical reductionism, rejecting the monism about nature that was Mach’s trademark. In short Mach’s ideas acted as a stimulus to American thinkers, but they had their own tradition and they were able to resist his authority and contribute in reverse to Mach’s own refinement of his positions. (shrink)

Cognitive modeling is the effort to understand the mind by implementing theories of the mind in computer code, producing measures comparable to human behavior and mental activity. The community of cognitive modelers has traditionally met twice every 3 years at the International Conference on Cognitive Modeling. In this special issue of topiCS, we present the best papers from the ICCM meeting. These best papers represent advances in the state of the art in cognitive modeling. Since ICCM was for the first (...) time also held jointly with the Society for Mathematical Psychology, we use this preface to also reflect on the similarities and differences between mathematical psychology and cognitive modeling. (shrink)

Using a conviction-based measure, we find that local public corruption exerts a negative effect on the lending activity of US banks. Our baseline estimations show that the difference in public corruption between, for example, Alabama, where corruption is high, and Minnesota, where corruption is low, implies that banks headquartered in the former state grant 0.55% less credit ceteris paribus. Using proxies for relationship lending and monitoring, we also find that these bank characteristics weaken the negative effect of public (...) corruption on lending. These results are robust to tests that address endogeneity, to the use of perception-based measures of corruption, and after controlling for credit demand conditions. In further analysis, we show that these effects are more evident for smaller banks and banks operating in a single state. These findings provide evidence that public corruption could facilitate information asymmetry in the lending market and, thus, could hinder local development by reducing bank credit. (shrink)

In this paper, we discuss our approach to developing engaging course content linked to distinct learning outcomes on the topic of academic authorship. Academic authorship is a critical element of research culture and responsible conduct of research (RCR) courses. Drawing on instructional design methods, our online course aims to stimulate critical thinking about ethical authorship practices and to help students develop skills for resolving authorship-related conflicts. The course is scaffolded to facilitate engagement by tying video and podcast-style media, a choice-based (...) interactive simulation, and traditional case study activities, to specific learning objectives. We describe how each instructional technique enhances student engagement and learning for the paired objective, and the benefits of the holistic course design. Finally, we illustrate how RCR instructors can incorporate our materials in full or in part into their own course curricula and encourage others to use our course development approach when designing their own courses. (shrink)

Credit distribution is uneven in the domestic financial market since it is relatively easy for listed companies, mainly state-owned enterprises, to obtain banks’ funds. Unbalanced credit distribution has caused some listed companies to participate in “Borrow to Lend” activities. Based on the traditional “financing priority” theory and credit rationing theory, this paper studies the “Borrow to Lend” shadow banking activities of China’s non-financial listed companies based on the 2007–2018 financial statement data of Chinese-listed companies and discusses the (...) micro-level and macro-level related factors behind this activity. The empirical results show that China’s non-financial listed companies, especially the state-owned enterprises, are participating in obvious “Borrow to Lend” activities. The real economy’s rate of return shows a negative relationship with “Borrow to Lend” activities at the level of individual companies and their industries. This article uses the exogenous growth part of M2 growth to measure monetary policy tightness in terms of macro and credit policies. It uses the ratio of state-owned enterprise loans to total corporate loans as an approximate indicator of the credit distribution structure. The empirical results indicate that state-owned enterprises’ “Borrow to Lend” activities have shifted in the same direction as the tightening of monetary policy after the financial crisis. The proportion of state-owned enterprise loans positively correlates with state-owned enterprises’ “Borrow to Lend” activities. (shrink)

Source: Author: Hamid Abrishami, Masoud Saboji Studying the function of banks is crucial because their vigorous role in the economy seems to be a subject of immense importance. In the present study, we analyze and study the role of whole banks, commercial banks and specialized banks between 2002 and 2012 in Isfahan, based on the growth of value added approach in the industrial sector. In order to investigate this matter, we have estimated three extinction panels for (...) the whole banking system, specialized banks and commercial banks in Eviews 9. Based on the results it can be argued that in the panels of whole banks and specialized banks, payment facilities have a positive and meaningful impact on the growth of value added in all three sectors of the economy, but in the panel of commercial banks, only banking facilities on a 10 percent level have a positive and meaningful impact on the growth of value added in the industrial sector. As a result, we can conclude that specializing the bank's activities can have a positive effect on the growth of value added in various sectors of the economy. ]]>. (shrink)

The development of information and communication technologies offers innovative opportunities to establish business strategies focused on customer value co-creation. This situation is especially notable in the banking industry. e-Banking activities can support competitive advantages. However, the adoption of e-banking is not yet well-established among consumers. In this sense, the technology acceptance model is considered essential in studying consumer behavior applied to adopt a particular technology. According to the TAM model, this study analyses the factors which influence bank customers to (...) adopt e-banking to facilitate their banking services and support the process of value co-creation. Consequently, the authors examine five main aspects of the technology adoption model to provide a broad understanding of bank customers’ consumption of e-banking. A partial least squares structural equation modeling analysis is conducted to evaluate proposed relationships between factors and customers’ e-banking adoption. (shrink)

One of the least investigated, which now exists in Ukraine is the Old Believers. Despite the fact that their communities have been operating in our territory for more than two centuries, researchers have long devised this topic with their attention. The main reason for this attitude to the study of the Old Believers should be considered political realities of the XX century, and they are known to have not contributed to the objective study of even traditional Ukrainian denominations. Therefore, right (...) now, with the proclamation by the state of equal treatment of all religions and non-interference in their affairs, the time has come to make up for the lost. Let us stop here only on one aspect of the problem - the activities of the Old Believers monasteries. (shrink)

The authors study the impact of institutional corporate social responsibility —defined as CSR targeted at a borrowing firm’s secondary stakeholders—on bank loans. Findings suggest that higher levels of institutional CSR are associated with lower levels of interest rates and loan spreads. In addition, institutional CSR also tempers the positive impact of loan maturity and firm leverage on interest rates and loan spread. These effects were strongest among firms that demonstrated sustained performance, rather than among firms that showed mixed performance in (...) terms of their secondary stakeholder-related activities. This study indicates institutional CSR is valued by stakeholders for its risk mitigating and transaction cost reducing effects independent of technical CSR, defined as CSR targeted at primary stakeholders. (shrink)

Abstract.In Canada, food assistance is provided through a widespread network of extra-governmental, community-based, charitable programs, popularly termed “food banks”. Most of the food they distribute has been donated by food producers, processors, and retailers or collected through appeals to the public. Some industry donations are of market quality, but many donations are “surplus” food that cannot be retailed. Drawing on insights from an ethnographic study of food bank work in southern Ontario, we examined how the structure and function of (...) food banks operate to facilitate the distribution of foods not marketed through the retail system. Our findings indicate that the handling of industry donations of unsaleable products is a labor-intensive activity, made possible by the surfeit of unpaid labor in food banks, the neediness of food bank clients, and clients’ lack of rights in this system. The marshalling of volunteer labor to serve a corporate need might be construed as a “win-win” situation because the work of salvaging edible foodstuffs from among industry “surplus” helps to “feed the hungry” while also diminishing the amount of refuse deposited in landfill sites, sparing corporations disposal costs and landfill tipping fees, and helping them forge an image of good corporate citizenship. However, the reliance of food banks on industry donations means that food assistance becomes defined as that which the corporate sector cannot retail. Moreover, the intertwining of food bank work with corporate needs may function to further entrench this ad hoc secondary food system and mitigate against initiatives to develop more effective responses to problems of hunger and food insecurity in our communities. (shrink)

This paper examines the relationship between corporate social responsibility and financial performance for Islamic banks in the Gulf Cooperation Council region over the period 2000–2014 by generating CSR-related data through disclosure analysis of the annual reports of the sampled banks. The findings of this study indicate that there is a significant positive relationship between CSR disclosure and the financial performance of Islamic banks in the GCC countries. The results also show a positive relationship between CSR disclosure and (...) the future financial performance of GCC Islamic banks, potentially indicating that current CSR activities carried out by Islamic banks in the GCC could have a long-term impact on their financial performance. Furthermore, despite demonstrating a significant positive relationship between the composite measure of the CSR disclosure index and financial performance, the findings show no statistically significant relationship between the individual dimensions of the CSR disclosure index and the current financial performance measure except for ‘mission and vision’ and ‘products and services’. Similarly, the empirical results detect a positive significant association only between ‘mission and vision’ dimension and future financial performance of the examined banks. (shrink)

Does the level of marketing activity in a country contribute to societal well-being or quality of life? Does economic efficiency also play a positive role in societal well-being? Does economic efficiency also moderate or mediate the marketing activity effect on societal well-being? Marketing activity refers to the pervasiveness of promotion expenditures and number of retail outlets per capita in a country. Economic efficiency refers to the extent to which the economy is unhampered by corruption, burdensome government regulation, and a large (...) informal economy. We used secondary data from the World Bank and other statistical sources to answer these questions. Our study findings suggest that both marketing activity and economic efficiency contribute positively to societal well-being, and that economic efficiency plays more of a mediator than moderator role between marketing activity and societal well-being. The public policy implication of this study is that increases in marketing activity and economic efficiency in countries characterized as low on both dimensions should significantly increase the quality of life in those countries. (shrink)

This study is based on the objective conditions of Islamic banking in Indonesia, which have not carried out their social functions optimally. Based on reports from the financial services authority, Indonesia bank and several related research, the efforts to optimise the social function of Islamic banking still encounters several problems related to the distribution of banking funds that are more focused on business interests, lack of real business run by Islamic banks, customer funds that are mostly deposited in Indonesia (...) bank and have not been distributed to the real sector effectively, to banking activities by referring to the capitalistic economic paradigm and not fully referring to sharia guidelines. The results of the study of documents, literature and actual phenomena using descriptive and holistic analysis methods indicate that the degradation of the social function of Islamic banking appears as a result of a lack of understanding of the concept of Islamic economics based on the construction of Islamic social theology. The lack of understanding of banking management towards Islamic social theology has created a gap between the practical and conceptual sides of Islamic social theology, which in turn has an impact on the lack of social commitment from related parties in the implementation of Islamic banking activities. Strengthening the practical side of Islamic social theology is a necessity to overcome the existing problems.Contribution: The article contributes to the discourse on the application of Islamic social theology to Islamic banking practices. It aims to contribute to theological thought in Islam in order to strengthen the social function of Islamic banking, by focusing on the main objective of Islamic economics: al-falah or the achievement of spiritual and material prosperity. (shrink)

PurposeBanks spend thousands of dollars on several CSR activities and communicating the same to defined stakeholders becomes a strategic task that must be artfully managed by the banks. Bank web sites now represent a useful communication platform in the reportage of CSR activities. This paper aims to report on CSR reportage amongst four leading banks in Ghana. Two of them have won CSR industry awards while the others have not.Design/methodology/approachA case study approach was adopted using Hinson (...) et al.'s online CSR framework to analyze CSR reportage in the four banks. Two of them had previously won CSR awards at a Ghana Banking Awards ceremony in the last five years, and two had not. The data drawn from the banks were analyzed within and across the four cases.FindingsAgricultural development bank, the bank with the most socially responsible bank of the year awards, has the weakest online CSR reportage in the study with just one CSR report online.Originality/valueCSR communication is a rapidly evolving field of scholarship and this study adds to the extant literature from a developing economy banking perspective. (shrink)

The Fatwā-house, which was within the body of Meshihat in the Ottoman Empire, gave answers to the questions posed to it by focusing on the Hanafi sect and the preferred fatwās of this sect for centuries. These questions and answers were also duly recorded. In this study, based on The Record for the Legal Responses of the Supreme Fatwā Office, which is registered at records numbered 378 in the Meshihat Archive of the Istanbul Mufti, one of the records containing the (...) answers given by the institution. It is an attempt to create an imagination about the scope and sphere of influence of the fatwā activity in the last period of the Ottoman Empire. Accordingly, in the last thirteen years of the state, Fatwā-house has been the addressee of questions from individuals, state and private institution directors, societies, ministries and the Grand Vizier. While some of these questions came from the provinces within the Ottoman borders or from the countries that had an administrative ties with the Ottoman Empire, some of them were submitted to the Fatwā-house by the Muslims of other states from the lost lands or simply because the caliphate center was the official fatwā organ. At the records, there is also a record of the questions coming from muslims who are Ottoman citizens but residing in other countries. Looking at the subjects, it was determined that most of the questions were asked about foundations. In addition, the permissibility of obtaining interest by bank facility or depositing money in the bank, the establishment of modern schools and whether the ways to create resources for these schools are permissible, whether teaching in Latin letters is possible, the provision of life insurance, the importance of cleanliness in the fight against cholera, the fight against innovations (bidʻas) in mosques. It is seen that questions on different issues, from issues such as whether the wife of the lost (mafqud) can be separated by the judge or not; to the issues of whether the fulfillment of judgment can be regarded as the end of the judgment or not. As it is mentioned in some fatwā records at the record book, it is obligatory to decide on fatwā and its fulfillment in the Ottoman Empire with the most authentic and preferred view of the Hanafi sect. The last two fatwā questions mentioned above are handled as examples of giving up the act with the will of the head of state, with the preferred fatwâs discussed in this article. It is only possible with the will of the head of state to make a decision with an opinion other than preferred fatwâ or an other opinion out of the sect. According to the first example, some of those of the citizens of other states outside the Ottoman Empire came to the Ottoman lands for reasons like trade etc. and married to Muslim women there and then left them suffering. This was also true for the wives of men who went to wars and did not return. Although the drawbacks of the Hanafi sect's preferred view, that one should wait until the age of ninety, one hundred, one hundred and twenty, or until the death of their peers, were resolved by appointing a regent from other sects, continuity could not be ensured in this practice either, finding people has not always been possible. For this reason, in the time of Shaykh al-Islam Hayri Efendi, a statement of change was prepared and submitted to the will of the sultan. In the issue of whether the signature of the head of state can be counted as the end of the judgment, another subject in which the will of the head of state is applied, the stages of abandoning the preferred view can be followed much more clearly. In the case of the dismissal of the judge or the expiration of the term of office before the execution of the judgment, especially in the distant provinces of the state, in the case of the judge's dismissal or the expiration of his term, according to the preferred view of the sect, which was based on juristic discretion, the closure of the cases took many years. It is seen that the judgment reached by analogy was submitted to the will of the sultan, with an article added to the script regarding the prepared procedure of reasoning, although there is no preferred view since it is the most suitable opinion for the interests of the people and the necessities of the century due to the increase in complaints. Effective from the time it was approved by the head of state, the execution of the sentence is no longer a requirement for the trial to be completed. The changes in the provisions of these matters also show that, although it was important for the Ottoman State to comply with the preferred view of the Hanafi sect - as in the previous Shaykh al-Islams' fatwās in the form of ma'ruzat - it was considered more necessary to look after the interests of the Muslims and different opinions were enacted and put into practice. (shrink)

Intimate Partner Violence (IPV) is a global social problem that includes using coercive control strategies, including financial abuse, to manage and entrap an intimate partner. Financial abuse restricts or removes another person’s access to financial resources and their participation in financial decisions, forcing their financial dependence, or alternatively exploits their money and economic resources for the abuser’s gain. Banks have some stake in the prevention of and response to IPV, given their unique role in household finances and growing recognition (...) an equitable society is one inclusive of consumers with vulnerabilities. Institutional practices may unwittingly enable abusive partners’ financial control as seemingly benign regulatory policy and tools of household money management exacerbate unequal power dynamics. To date, business ethicists have tended to take a broader view of banker professional responsibility, especially post-Global Financial Crisis. Little scholarship examines if, when and how a bank should respond to societal issues, such as IPV, traditionally outside their ‘remit’ of banking services. I extend existing understandings of ‘systemic harm’ to conceptualise the bank’s role in addressing economic harm in the context of IPV, viewing IPV and financial abuse through a consumer vulnerability lens to translate theory into practice. Two in-depth stories of financial abuse further illustrate the active role banks can and should take in combating financial abuse. (shrink)

Objective: Tangent Space Mapping using the geometric structure of the covariance matrices is an effective method to recognize multiclass motor imagery. Compared with the traditional CSP method, the Riemann geometric method based on TSM takes into account the nonlinear information contained in the covariance matrix, and can extract more abundant and effective features. Moreover, the method is an unsupervised operation, which can reduce the time of feature extraction. However, EEG features induced by MI mental activities of different subjects are (...) not the same, so selection of subject-specific discriminative EEG frequency components play a vital role in the recognition of multiclass MI. In order to solve the problem, a discriminative and multi-scale filter bank tangent space mapping algorithm is proposed in this article to design the subject-specific Filter Bank so as to effectively recognize multiclass MI tasks. Methods: On the 4-class BCI competition IV-2a dataset, first, a non-parametric method of multivariate analysis of variance based on the sum of squared distances is used to select discriminative frequency bands for a subject; next, a multi-scale FB is generated according to the range of these frequency bands, and then decompose multi-channel EEG of the subject into multiple sub-bands combined with several time windows. Then TSM algorithm is used to estimate Riemannian tangent space features in each sub-band and finally a liner Support Vector Machines is used for classification. Main Results: The analysis results show that the proposed discriminative FB enhances the multi-scale TSM algorithm, improves the classification accuracy and reduces the execution time during training and testing. On the 4-class BCI competition IV-2a dataset, the average session to session classification accuracy of nine subjects reached 77.33 ± 12.3%. When the training time and the test time are similar, the average classification accuracy is 2.56% higher than the latest TSM method based on multi-scale filter bank analysis technology. When the classification accuracy is similar, the training speed is increased by more than three times, and the test speed is increased two times more. Compared with Supervised Fisher Geodesic Minimum Distance to the Mean, another new variant based on Riemann geometry classifier, the average accuracy is 3.36% higher, we also compared with the latest Deep Learning method, and the average accuracy of 10-fold cross validation improved by 2.58%. Conclusion: Research shows that the proposed DMFBTSM algorithm can improve the classification accuracy of MI tasks. Significance: Compared with the MFBTSM algorithm, the algorithm proposed in this article is expected to select frequency bands with good separability for specific subject to improve the classification accuracy of multiclass MI tasks and reduce the feature dimension to reduce training time and testing time. (shrink)

Service-dominant logic established that for the success of service industries, it is vital to acknowledge the customer as an active agent in the commercial ecosystem. To carry it out, the consumer must participate in value creation. The resource integration theory exposes the importance of recognizing the customer as an agent capable of improving the company’s competitive advantage. It is only necessary for the participants to perceive benefits to make their resources available and integrate them into the co-creation process. This study (...) aims to find the key customer-based factors that influence the brand value co-creation process in the banking sector, analyzing the dynamics in different customers across national cultures and idiosyncrasies. In this paper, we analyze the potential heterogeneous idiosyncrasy of customers and how it leads to becoming more engaged in the co-creation process. Quantitative research was performed in five countries, obtaining a total of 2,029 valid questionnaires where latent profile analyses and ANOVAs were performed to identify and describe the latent profiles of consumer co-creators of brand value. Afterward, a PLS-SEM was performed to test the research model in each segment. The results show four different profiles of customer co-creators of brand value, from non-co-creators, skeptical and neutral, to customers committed to co-creating brand value with their banks. The results indicate that detractor customers lack the motivations and resources to carry out co-creation behaviors. On the other hand, creativity and connectedness were crucial for customers co-creators of value. To the authors’ understanding, no studies have used latent segmentation to find the profiles of customer co-creators of brand value. (shrink)

Nowadays there is a growing interest in business ethics, both in academia and professionally. However, moral lapses continue to happen in business activities, leading academicians and professionals to rethink what is being done and reinventing new strategies to successfully manage ethics in business organisations. Thus, whereas efforts to promote ethics are basically oriented to using and developing explicit, written formal mechanisms, the literature suggests that other instruments are also useful and necessary to achieve this. Thus, studying the role of (...) the Human Resource Management (hereafter, HRM) in promoting ethics is an emerging research topic due to the heavy influence that HRM practices are thought to have on employees. This paper is aimed at developing a thorough analysis of HRM's role in promoting ethics, and specifically at focusing on one of its practices, training. As an illustrative example of the utility of this practice, an empirical study was conducted on a range of Spanish banking companies in which an impact was found on the employees' ethical behaviour when ethics training was being provided inside the organisation. Finally, the practical implications of these findings and directions for future research are presented. (shrink)

This essay has two aims: to affirm the significance of private banking in fourthcentury B.C. Athens, and to propose a model of its role in the economy. Such a project is desirable because there has been a tendency since the publication of Finley's The Ancient Economy to minimalize the significance of banking in ancient Greece. Banking is seen as a ‘fringe activity’ largely carried out by such ‘outsiders’ as metics and ex-slaves.Consequently historians have frequently overlooked the value of banking as (...) a tool for understanding the Greek economy. (shrink)

The current economic crisis arose in large part from financial activities in which capital was practically and logically alienated from real economy. This essay examines the exploitative logic of modern finance while considering two alternative models—microfinance and Islamic banking. These models will be considered against the backdrop of medieval arguments over usury, notably the debates between Franciscans and Dominicans surrounding the lending institutions known as monti di pietà. While noting that either model is decidedly preferable to current normative banking (...) practices, this essay argues for the interest-free logic of Islamic finance against the logic of usury insofar as usury lends itself to a double alienation—of lender from borrower and of profit from value. (shrink)

This book documents the growth of unproductive activity in the United States economy since World War II and its relation to the economic surplus, capital accumulation, and economic growth. Unproductive activities broadly consist of those involved in the circulation process, including wholesaling and retailing, banking and financial services, advertising, legal services, business services and many government activities. The results indicate that the level of unproductive activity in the postwar economy has been a significant factor in the slowdown in (...) the rate of capital accumulation, productivity growth and the overall growth rate. Here, the villain is shown to be the gradual but persistent shift of resources to unproductive activities. The consequence has been a reduction in new capital formation and productivity growth and an erosion in the rate of growth in per capita living standards. Moreover, the rise in unproductive activity is itself seen to be rooted in the logic of advanced capitalism. The forces of competition, which in the early stages of capitalism lead to rapid technical change and productivity growth, promote non-productive and even counterproductive activities in its more advanced stages. (shrink)

There has been little discussion of central bank accountability in recent decades because monetary policy has been seen as an essentially technical problem. Yet, during the 2008 financial crisis and the economic dislocations that ensued, central banks gained considerably in authority—bailing out failing institutions, using unorthodox monetary tools, and wading into sovereign debt crises. At the same time, the financial crisis and the slow recovery that has followed have revealed just how uncertain and volatile the global economy can be—a (...) situation that poses new dilemmas for monetary policy. This article looks at the existing model of central bank accountability and finds it wanting in this new, more uncertain environment. Because the principle of central bank independence involves a very narrow set of objectives—generally focused on an inflation target—and very few opportunities for sanction, the main mechanism for accountability is that provided by the publication of information about the bank's deliberations and activities. In an era of increased economic uncertainty, when central bankers themselves admit that simple rules and models are no longer adequate, a narrow, transparency-based form of accountability is not sufficient. I suggest that we need a thicker, more robust form of accountability that fosters more deliberation and debate, ensures that central banks are answerable to their publics, and broadens the standards by which they are judged. (shrink)

There is an obvious and important difference between bank loans and typical personal loans, viz., that banks charge interest in order to make a profit. Accordingly, what banks do is more accurately described as selling or renting money than as loaning money. Moreover, it is advantageous to banks misleadingly to describe their activity as loaning. For this assimilates their activity to the case of personal loans and helps to create an impression that banks do us a (...) favor by loaning us money and that we owe them gratitude for so doing. Since these impressions are false, banks ought cease to describe what they do in this way. (shrink)

Rightwing theorists argue that we owe the current financial crisis to the democratization of credit, or financial inclusion: politics interfered with the market to benefit marginalized actors, only to cause instability and risk. Leftwing theorists focus instead on financialization: namely, the shift of profit-making activities from industry to finance. These views implicitly draw on Schumpeter and Marx. Much like their intellectual progenitors, they emphasize exogenous processes to explain financial change. Here I claim that the connection between financial innovation and (...) financial inclusion is endogenous. I suggest two main typologies of financial innovators: Market Utopians (MUs) and Populist Innovators (PIs). Financial inclusion, I submit, is the byproduct of the quest for power of the latter. (shrink)

Criminalistics laboratories routinely provide cold hits in police investigations by comparing DNA profiles from crime scenes to offenders residing in the Combined DNA Index System. Forensic DNA analysis is often glamorized in popular culture, where the perpetrators are identified and crimes solved within a single television episode. In reality forensic DNA hits can identify perpetrators of violent offenses, link multiple crimes committed by the same individual, or exclude suspects and exonerate the falsely accused. Unlike the media portrayals, downstream activities (...) after a DNA identification or cold hit are often more complex. While the Federal Bureau of Investigation cites a national Data Bank of more than 7.2 million DNA profiles and 94,000 identifications nationwide, an in-depth analysis of public safety improvements made with CODIS is currently unavailable to forensic practitioners and public policy analysts. A review of case resolutions for 198 DNA database hits in San Francisco created performance metrics to provide a concrete measure of the effectiveness of DNA databasing efforts at the city and county level. (shrink)

This paper traces the recent debate over the legitimacy of maturity mismatching and fractional reserve banking. It shows that there is common ground between Bagus and Howden :399–406, 2009, 106:295–300, 2012) on the one hand and Evans on the other regarding contractual arrangements that lead to fractional reserve banking, while both agree that fractional reserve banking that arises out of a bailment or storage contract constitutes fraud. Block and Barnett :711–716, 2009, 100:229–238, 2011) stress the illegitimacy of fractional reserve banking (...) for creating more money substitutes than there is actual money. While it is true that fractional reserve banks are capable of creating money, this activity still cannot be regarded as fraudulent using a common law definition of fraud for it can only take place with requisite client collaboration that makes it impossible to identify a victim. (shrink)

Across the world, corruption is endemic, a cause of growing inequality, and an impediment to economic growth. Many countries have attempted to curb corruption at the national level, with little success. Researchers have argued that, instead of initiate controlling corruption at national level, resisting corruption should be actively instigated within organisations. Specifically, Luo :119–154, 2005) suggests that corruption becomes entrenched in organisations through the task and institutional environments, and can therefore only be fought through changes in institutional architecture. Modification of (...) Luo’s model, by putting in place anti-corruption systems at the start, shows how anti-corruption behaviours become established and can be resisted. In this paper, we explore the successful management of organisational corruption by the Grameen Bank, a leading microfinance institute that operates in Bangladesh. For many years, this bank has stood out against the generally accepted culture of corruption in Bangladesh. Using the case study method, this research explores the impact of the anti-corruption structures and processes implemented by Grameen Bank, as a unique illustration within Bangladesh of the value of this modified version of the Luo’s model. The bank has actively introduced policies and processes that have made it difficult for corruption to become established. (shrink)

This article explores the implications of the Federal Reserve’s shift to transparency for recent debates about neoliberalism and neoliberal policymaking. I argue that the evolution of US monetary policy represents a specific instance of what I term the “neoliberal dilemma.” In the context of generally deteriorating economic conditions, policymakers are anxious to escape responsibility for economic outcomes, and yet markets require regulation to function in capitalist economies (Polanyi 2001). How policymakers negotiate these contradictory imperatives involves a continual process of institutional (...) innovation in which functions are transferred to markets, but under the close control of the state. Thus, under transparency, Federal Reserve officials discovered innovations in the policy process that enabled “markets to do the Fed’s work for it.” These innovations enlisted market mechanisms, but did not represent a retreat from the state’s active role in managing the economy. (shrink)

India is the emerging country with the world’s greatest social banking program, so Indian banks are required to finance the weaker sectors of society that are excluded from the traditional financial system, while also providing mainstream banking services to non-priority sectors. For social banks to promote the ethical–social management of their dual mission and to be successful in today’s business environment, they must be as efficient as possible in both dimensions of their banking activity. Whereas the efficiency of (...) Indian banks in the financial dimension is well understood, to date there has been no research evaluating their double bottom-line of achieving social and financial goals. Our study applies an innovative Network Slack-Based DEA model to evaluate how efficient Indian public banks are when providing credit to priority and non-priority sectors. We also explore the main factors influencing bank efficiency. Results suggest that Indian public banks have performed relatively well in both activities, although social efficiency has been slightly greater than financial efficiency. Moreover, their commitment to priority sector lending has not come into conflict with the profit-seeking objectives of mainstream banking services. As regards determinants of social and financial efficiency, there are countervailing forces played by regional wealth, bank size, branch networks, and rural location. Our findings are therefore useful for stakeholders of Indian public banks as they indicate if these entities have adequately managed their double bottom-line, and hence if they are critical for poverty alleviation and development in India. (shrink)

Over the past decade, the Combined DNA Index System (CODIS) has increased solvability of violent crimes by linking evidence DNA profiles to known offenders. At present, an in-depth analysis of the United States National DNA Data Bank effort has not assessed the success of this national public safety endeavor. Critics of this effort often focus on laboratory and police investigators unable to provide timely investigative support as a root cause(s) of CODIS' failure to increase public safety. By studying a group (...) of nearly 200 DNA cold hits obtained in SFPD criminal investigations from 2001–2006, three key performance metrics (Significance of Cold Hits, Case Progression & Judicial Resolution, and Potential Reduction of Future Criminal Activity) provide a proper context in which to define the impact of CODIS at the City and County level. Further, the analysis of a recidivist group of cold hit offenders and their past interaction with law enforcement established five noteworthy criminal case resolution trends; these trends signify challenges to CODIS in achieving meaningful case resolutions. CODIS' effectiveness and critical activities to support case resolutions are the responsibility of all criminal justice partners in order to achieve long-lasting public safety within the United States. (shrink)

The aim of the study is to identify typical religiously-based regulatory practices in the banking sector of secular states. With this end in view, the intersection of religion and banking was qualitatively analysed, as well as confessional-based economies of Judaism, Christianity, and Islam were characterised. The results obtained provide evidence that religion exerts a notable influence on the social and economic life of the country. The Jewish banking system is based on the analogy of the Islamic finance paradigm - it (...) is built upon Sharia law but provides services for the population according to national jurisdiction of the state and the laws of the Torah. In the meantime, the regulation of basic banking practices in the Christian tradition is not religiously conditioned. The originality of this study is in the analytical tool designed to manage financial activities within the particular economic system while making allowances to the moral values of society. (shrink)

This article investigates particular issues that remain unexplored or unsettled in the state-controlled banking services sector in Byzantium , comprising the guilds of dealers in bullion and the bankers . It establishes that money-changing remained the exclusive prerogative of the trapezitai and was safeguarded by guild regulations aiming to secure the soundness of the monetary system, while money-lending was governed by statute law and was carried on by trapezitai in competition with other guild members making loans as a sideline activity (...) and private money-lenders operating outside the guild system. The argyropratai dealt in precious metals and stones, undertook appraisals of valuables for a fee, and made, sold or repaired jewelry. The guilds' occupational exclusivity in money-changing and trading and precious metals did not establish a market monopoly, as the guild system did not aim to advance the members' economic interests, thwart intra-guild competition, or achieve equality of financial results for the membership. Neither the state nor the guilds set commissions on currency transactions, prices of precious metals, or fees for services, such determination being left to market forces. (shrink)

This article considers how we should frame the ethical issues raised by current proposals for large-scale genebanks with on-going links to medical and lifestyle data, such as the Wellcome Trust and Medical Research Council's 'UK Biobank'. As recent scandals such as Alder Hey have emphasised, there are complex issues concerning the informed consent of donors that need to be carefully considered. However, we believe that a preoccupation with informed consent obscures important questions about the purposes to which such collections are (...) put, not least that they may be only haphazardly used for research —an end that would not fairly reflect the original altruistic motivation of donors, and the trust they must invest. We therefore argue that custodians of such databases take on a weighty pro-active duty, to encourage public debate about the ends of such collections and to sponsor research that reflects publicly agreed priorities and provides public benefits. (shrink)

Corrupt, unethical and imprudent practices in the global banking sector have been identified as among the causes of the Global Financial Crisis. In this paper I provide an analysis of institutional corruption that enables institutional corruption within the global banking sector to be viewed in relation to economic injustice, and demarcated from the unfortunate consequences of unavoidably risky market-based activity, poor judgment, ill-informed policy-making etc.; argue for an understanding of and response to institutional corruption in the global banking sector that (...) is holistic i.e., focuses on institutional purpose, industry structure and banking culture rather than simply structure or culture; and argue for an account of moral responsibility for corruption and economic injustice in the global banking sector, and for combating it, in terms of meta-collective responsibility, a specific notion of collective moral responsibility that does not allow individual human actors to evade responsibility. (shrink)

Amidst expanding interest in local food and agriculture, food banks and allied organizations across the United States have increasingly engaged in diverse gleaning, gardening, and farming activities. Some of these programs reinforce food banks’ traditional role in distributing surplus commodities, and most extend food banks’ reliance on middle class volunteers and charitable donations. But some gleaning and especially gardening and farming programs seek to build poor people’s and communities’ capacity to meet more of their own food (...) needs, signaling new roles for some food banks in promoting community food security and food justice. This article reports the results of a national survey and in-depth case studies of the ways in which food banks are engaging in and with local agriculture and how this influences food banks’ roles in community and regional food systems. The patterns it reveals reflect broader tensions in debates about hunger relief and food security. (shrink)

We examine the role of religiosity on the financing activities in both Islamic and conventional banks in Indonesian provinces by using five different measures of religiosity: number of Islamic schools, hajj application, number of Islamic seminary schools, number of Mosques, and number of certified halal products. Based on regression analysis, the results show that both Islamic and conventional banks provide more financing in religious provinces. Religiosity also helps in reducing the volume of non-performing financing. Our the results (...) are still qualitatively valid after taking into account endogeneity issue that emanates from omitted variables (i.e., unobservable beliefs, ideas, and attitudes), and possible reverse causality between religiosity and the total amount of financing at the province level. (shrink)

Purpose of the article is to predict the interrelationship between the change of financial institutions loan portfolio and activities of the main economic sectors in Lithuania. Coherence between financial intermediation and economic growth cause a great interest of economists during the late decade. Prevailed opinion that banking sector is the reflection of economic growth and expansion and that its role - to intermediate in the saving and investing needs, reallocating funds between economic activities, was replaced by sentiment that (...) strong and stable banking sector could be not only the result of economic development, but also the cause of this growth. The purpose of the article is to accomplish forecast of the influence of financial institutions loan portfolio change to the main economic sectors in Lithuania for 2013-2017 period. Methodology/methods Analysis of variation of loan portfolio according economic sectors shows the tendencies of financing of various activities in the past. Regression - correlation analysis helps to identify the influence of loan portfolio changes and their impact for GDP and employment in separate economic sectors. The forecasting of different economic sectors was made using extrapolation methods and econometric method. Scientific aim: Economic situation in Lithuania forces to estimate decisions made by banking sector that influence not only individual countries but also the global economy. In this regard, there is a natural question of whether the process of underway stagnation should be judged as a timely economic development stage, or perhaps as the result of policies pursued by financial institutions? Prerequisites for the problem situation forces to overhaul loan portfolio managed by financial institutions, evaluate its change on the country's economy sectors, and to investigate these relationships forecasts. Findings: There is a strong link between financial sector development and economic growth. The results showed that the volume of loans has a very close interdependence with the GDP. Data obtained for loan portfolio forecasting for 2013-2017 showed that the growth of loans can be seen in all sectors except construction. Employment should grow only in public and retail sectors. Conclusions : The most relationship with GDP was established in retail and public sectors. Determining the correlation coefficients and regression equations between loans and employment the strongest relationship found in retail, industrial and construction sectors. The study encountered lack of data for 2012, since the information about the composition of the loan portfolio in different sectors since November 2011 is no longer provided to the Bank of Lithuania. (shrink)

In a number of recent articles, the debate on the ethics of fractional reserve “free” banking has been extended to loan maturity mismatching, specifically the banking practice of borrowing short and lending long. Barnett and Block :711–716, 2009; 2010) claim the practice is illicit, because like fractional reserve banking it creates duplicate property titles. They argue there is a continuum in the time dimension between the two kinds of activities. Bagus and Howden :399–406, 2009; 106:295–300, 2012a; Eur J Law (...) Econ, 2012b; Bus Ethics 22:235–245, 2013) maintain that loan maturity mismatching does not create duplicate titles and is not illicit, and that from an economic and legal perspective there is no continuum with fractional reserve banking. Cachanosky and Evans enter the debate from the free-banking standpoint and view both practices as legitimate. In this paper, I agree with the conclusions of Bagus and Howden, but adopt a different approach to support this position. Using the title-transfer theory of contract, I demonstrate from first principles why loan maturity mismatching does not create duplicate property titles and is a legitimate practice. Employing this same theory, I then present a novel argument to show why the contractual arrangements found in fractional reserve banking are logically contradictory and illegitimate. (shrink)

I argue that in addressing worries about the validity and reliability of implicit measures of social cognition, theorists should draw on research concerning “entitativity perception.” In brief, an aggregate of people is perceived as highly “entitative” when its members exhibit a certain sort of unity. For example, think of the difference between the aggregate of people waiting in line at a bank versus a tight-knit group of friends: The latter seems more “groupy” than the former. I start by arguing that (...) entitativity perception modulates the activation of implicit biases and stereotypes. I then argue that recognizing this modulatory role will help researchers to address concerns surrounding the validity and reliability of implicit measures. (shrink)

There is a distinct lack of research into the relationship between corporate governance and corporate social responsibility (CSR) in the banking sector. This paper fills the gap in the literature by examining the impact of corporate governance, with particular reference to the role of board of directors, on the quality of CSR disclosure in US listed banks’ annual reports after the US sub-prime mortgage crisis. Using a sample of large US commercial banks for the period 2009–2011 and controlling (...) for audit committee characteristics, board meeting frequency, and banks’ profitability, size and risk, we find evidence that board independence and board size, the two board characteristics usually associated with the protection of shareholder interests, are positively related to CSR disclosure. This indicates that, with regard to CSR disclosure, more independent boards of directors and larger boards are the internal corporate governance mechanisms which promote both shareholders’ and other stakeholders’ interests. Contrary to our expectations, CEO duality also impacts positively on CSR disclosure. From an agency-theoretical viewpoint, this suggests that powerful CEOs may promote transparency about banks’ CSR activities for their private benefits. While this could indicate that powerful CEOs are under particular pressure to appease stakeholders’ concerns that they might abuse their power by providing a high degree of CSR disclosure, it could also be a sign of managerial risk aversion or managers’ private reputational concerns. (shrink)

This is the first study to examine the relationship between sustainability and soundness in banking as part of an integrated reporting approach. We consider 12 major European banks over the period 2006–2016. To test the relationship, two indexes were constructed, the sustainable performance index, which attempts to measure sustainability, and the banking soundness index, which measures bank soundness. The results show a bidirectional causality between sustainability and banking soundness. More specifically, soundness encourages banks to engage in sustainable development (...) activities, while the implementation of a sustainable development approach has a negative effect on banking soundness. Our research contributes to the literature on this topic in two ways. First, we propose a new method for measuring banking soundness based on a Bayesian approach. This approach allows us to study a large number of criteria and allows us to determine proactively the importance and the contribution of different determinants in achieving soundness. In addition, to the best of our knowledge, this is the first study that attempts to study the relationship between bank soundness and sustainability. (shrink)