On one hand, Chinese consumers are well known for conspicuous consumption and the adoption of luxury products and named brands. On the other hand, they also have a bad reputation for buying counterfeit products. Their simultaneous preferences for two contrasting types of product present a paradox that has not been addressed in the literature. This study attempts to present an explanation of this paradox by examining the effects of traditional Chinese cultural values and consumer values on consumers’ deontological judgment of (...) pirated CDs and the amount of social benefits they perceive they gain from them. We interviewed 300 Hong Kong Chinese consumers, and found that face consciousness increased materialism and risk aversion, thereby producing a favorable deontological judgment of pirated CDs. Face consciousness also has a direct effect on the amount of social benefits perceived in pirated CDs. Both favorable deontological judgment and perceived social benefits contributed to a strong intention to buy pirated CDs. The results are discussed in a cultural perspective. (shrink)

Esports is a rapidly growing industry worldwide, and it is making significant inroads in Hong Kong as well. However, owing to debates regarding the distinction between Esports and video gaming and the potential negative effects of engaging in Esports, its development in Hong Kong is still in its infancy. Therefore, this qualitative study investigated the perceptions and attitudes of teenagers and young adults toward Esports development and engagement, using the theory of planned behavior. Twenty-five teenagers and young adults participated in (...) this study, with their ages ranging from 15 to 29 years. Our results revealed the views of Hong Kong teenagers and young adults on the beneficial and deleterious outcomes, subjective norms, and barriers and facilitators of participating in Esports. Additionally, the results of this qualitative study may contribute toward a deeper understanding of Hong Kong Esports players to develop a theory of planned behavior construct for capturing the beliefs and perceptions of Hong Kong teenagers toward Esports. (shrink)

Cảm xúc là yếu tố cơ bản thúc đẩy con người đưa ra quyết định và xử lý thông tin. Sợ hãi là một trong những cảm xúc phổ biến nhất ảnh hưởng đến hành vi của nhà đầu tư cá nhân trên thị trường chứng khoán. Mặc dù nhiều nghiên cứu đã được thực hiện để khám phá tác động của nỗi sợ hãi đối với hiệu quả đầu tư và hành vi giao dịch của nhà đầu tư cá (...) nhân, nhưng vẫn còn rất ít thông tin về các yếu tố ảnh hưởng đến nỗi sợ hãi của nhà đầu tư cá nhân trong thời kỳ thị trường sụt giảm (hoặc những giai đoạn cực kỳ biến động). Vì thế, nghiên cứu này được thực hiện để tìm hiểu liệu các nguồn thông tin ảnh hưởng đến quyết định đầu tư của nhà đầu tư có ảnh hưởng đến sự sợ hãi của họ khi khủng hoảng xảy ra hay không. Nghiên cứu đã sử dụng phương pháp phân tích Bayesian Mindsponge Framework (BMF) trên bộ dữ liệu từ 1526 nhà đầu tư Trung Quốc và Việt Nam. Kết quả nghiên cứu chỉ ra rằng các nhà đầu tư tiếp cận các loại thông tin khác nhau khi đưa ra quyết định đầu tư sẽ ảnh hưởng đến tần suất phản ứng sợ hãi khác nhau. Cụ thể, các nhà đầu tư tham khảo thông tin từ chuyên gia hoặc tự phân tích khi đưa ra quyết định đầu tư ít bị đóng băng (biểu hiện của tâm lý sợ hãi) hơn trong thời kỳ thị trường sụt giảm. Ngược lại, những người đưa ra quyết định đầu tư dựa trên thông tin từ người quen hay bạn bè và trực giác sẽ bị đóng băng thường xuyên hơn. Kết quả nghiên cứu này giúp gợi ý nhà đầu tư cá nhân nên trang bị cho mình các kiến thức về tài chính cũng như tham khảo các ý kiến chuyên gia trên thị trường, hoặc những nguồn thông tin đáng tin cậy, khi đưa ra quyết định đầu tư. Bên cạnh đó, cơ quan quản lý thị trường cần có hoạt động phổ cập kiến thức về thị trường chứng khoán, hạn chế ảnh hưởng của các kênh thông tin không chính thống, và khuyến khích nhà đầu tư ít kinh nghiệm mua chứng chỉ quỹ của các quỹ đầu tư. (shrink)

Nghiên cứu này được thực hiện để tìm hiểu liệu các nguồn thông tin ảnh hưởng đến quyết định đầu tư của nhà đầu tư có ảnh hưởng đến sự sợ hãi của họ khi khủng hoảng xảy ra hay không? Nghiên cứu đã sử dụng phương pháp phân tích Bayesian Mindsponge Framework (BMF) trên bộ dữ liệu từ 1,526 nhà đầu tư Trung Quốc và Việt Nam. Kết quả nghiên cứu chỉ ra rằng, các nhà đầu tư tiếp cận (...) các loại thông tin khác nhau khi đưa ra quyết định đầu tư sẽ ảnh hưởng đến tần suất phản ứng sợ hãi khác nhau. Cụ thể, các nhà đầu tư tham khảo thông tin từ chuyên gia hoặc tự phân tích khi đưa ra quyết định đầu tư ít bị đóng băng (biểu hiện của tâm lý sợ hãi) hơn trong thời kỳ thị trường sụt giảm. Ngược lại, những người đưa ra quyết định đầu tư dựa trên thông tin từ người quen hay bạn bè và trực giác sẽ bị đóng băng thường xuyên hơn. -/- [English Abstract] This study was conducted to explore whether the sources of information priority during decision-making contribute to their fear reactions during crises. The research utilized the Bayesian Mindsponge Framework (BMF) analytics on data collected from 1,526 investors in China and Vietnam. The study results indicated that investors prioritizing different types of information when making investment decisions would have different frequency of fear reactions. Specifically, investors who prioritized information from experts or conducted self-analysis when making investment decisions experienced less freezing (an expression of psychological fear) during market downturns. Conversely, those who based their investment decisions on information from acquaintances, friends, and intuition tended to experience freezing more frequently. (shrink)

The ‘seeds’ Thoughts proposed by YU Youngmo and HAM Sukhun may each be summed up by propositions expressed in “People are a May-fly seed” and “Seeds embody the eternal sense”. They used “seed” to refer to humans or people on the one hand and placed the notion of seed in the holistic context of the Eastern Asian tradition on the other. Then, I seek to connect the anthropological notion and the holistic notion via cheng(誠) or integration. Zhungyong-The Doctrine of the (...) Mean, one of 4 Confucian texts, says that the ultimate integration(至誠) is to reflect the total nature of objects involved (盡性) so that it will show that self realization and all other realizations are one and not two(成己成物) and it will ultimately reach the stage of holiness(聖). Important elements of cheng intentionality can be read out of the two thinker’s various conceptual aspects. YU’s interpretation of history to be internalistic, his view of Hangul(Korean written language) as a revelational medium, his hermeneutics of Christian God as the emptiness cannot be understood on the dichotomous model of human-nature. HAM’s seed holism, his beliefs that humans’s minds are the heavenly mind and that all things under the heaven should come to be unified are best to be understood on the model of cheng intentionality of integration. (shrink)

In both the literal and metaphorical senses, it seemed as if 1970s America was running out of gas.

CHAPTER ONE Paving a Way for a Treatise Identity Those who are not of the philosophical persuasion may find it surprising that the Self appears to be such ...

Seeks to provide a new direction for the advancement of political theory. This essay deals with the uneasy relationship between liberty and equality; the nature of democracy and the formation of political consensus; and the weakness of our understanding of class.

The notion of intentionality has been in the center of the debate between dualism and physicalism quite some time. Dualism insists that intentionality is the mark of mental phenomena which separates humans from other animals whereas physicalism roughly claims that whatever there is either reducible to some physical states or explainable in terms of some physical language. But both of them are deeply troubled. Is there any other alternative? Where can we look for one? We know that Asian tradition is (...) full of organic world views. I am inclined to think that one alternative world view may come from this background. This paper tries to show that the notion of cheng(誠) intentionality is such a candidate. -/- I will advance a thesis in this paper that cheng(誠) intentionality is holistic. The notion is not only applicable to humans but also to all other phenomena. This may seem indistinguishable from physicalism in its monistic settings. Since I believe that the notion of cheng(誠) is more persuasive in explaining mental phenomena in evolutionary terms, I would argue here that the thesis can also be supported by some notions like that an information is a syntactical structure which reflects physical states and that the physicalisitic view of the world is not sufficient. (shrink)

Yat-hung Leung debates Chenyang Li’s view of harmony and benevolence in Confucian teachings: Which is the more fundamental and important value, and ultimate ideal? In The Confucian Philosophy of Harmony, Li delineates a distinctively Confucian conception of “deep harmony” as the basic ideal of Chinese culture and especially Confucianism. Leung questions that depiction of things, arguing that benevolence does and should hold that place of honor. Leung focuses his arguments against two claims: firstly, that harmony should be (...) understood as the supreme value in Confucian thought, and secondly, that the ideal of harmony is of greater value to us today than that of benevolence. Leung points out that in the influential texts and traditions of Confucian philosophy, benevolence is of higher value than harmony. He disputes both the representative nature of the texts Li relies on as well as Li’s portrayals of some of those texts. We more properly understand Confucian harmony and benevolence in the inverse relation, with harmony as the product of benevolence, and thereby come to see that the substantive action-guiding content of benevolence in fact has the greater value to contemporary life. (shrink)

[Adapted from publisher-provided promotional materials by English Book Review Editor, Janny HC Leung]M. Catherine Gruber (2014) I’m Sorry for What I’ve Done: The Language of Courtroom Apologies. Oxford University Press, USA, ISBN: 978-0-19-932566-5This book examines 52 apologetic allocutions produced during federal sentencing hearings. The practice of inviting defendants to make a statement in their own behalf is a long-standing one and it is understood as offering defendants the opportunity to impress a judge or jury with their remorse, which could (...) be a factor in the sentence that is imposed. Defendants raised the topics of the offense, mitigation, future behaviour and the sentence in different ways and this book explores the pros and cons associated with the different strategies that they used. Based on corpus data, Gruber argues that the application of Austin’s (1962) performative–constative continuum reveals that offense-related utterances that fall closer to the constative end are.. (shrink)

Consider this scenario: A terrorist just bombed the subway in London, which resulted in the casualties of numerous innocent people. His act can be considered well-planned for he fully knew what consequences his act would bring. If determinism is true, is it possible that the terrorist in question bombed the subway out of free will? An incompatibilist would respond to this question with a resounding “no”. A compatibilist, on the other hand, would answer yes, as long as the terrorist possessed (...) certain psychological characteristics, causal histories, etc. This underlies the basis of disputes between the compatibilists and incompatibilists, who appear to hold opposite views on whether it is possible for someone to act out of free will if determinism is true. However, as I shall discuss in Chapter One, this disagreement is partly a verbal one that stems from the diverse meanings of the term “free will”. This thesis aims to transcend the verbal disagreement and explore where the deeper, more substantial disagreements may lie between compatibilists and incompatibilists. One possible sphere where substantial disagreements between compatibilists and incompatibilists may lie is the content of the ordinary concept of free will, or that of the strongest sense of control condition necessary for securing the ordinary concept of moral responsibility. On this view, the metaphysical question and the conceptual question about free will are inseparable; in order to find out the metaphysical satisfaction conditions of free will, one must first identify the conceptual satisfaction conditions of free will. Further, the latter is reflected in everyday free will/ moral responsibility ascriptions about hypothetical or real scenarios. In Chapter Two, I analyze how the recent experimental philosophy movement bears on this issue. By examining the findings of some current experimental philosophy studies, I argue that neither compatibilism nor incompatibilism can sufficiently capture the ordinary concept of free will or moral responsibility. In the light of my discussions in Chapter Two, I explain in Chapter Three why each of the various traditional accounts of free will cannot independently provide an adequate “package deal” of solutions for the problem of free will. Near the end of the chapter, I propose a pluralistic, agnostic account of free will as an alternative solution. Despite its great instrumental value, experimental philosophy is not widely recognized as a philosophically significant methodology. Hence, Chapter Four is devoted to discussing the actual and potential values of experimental philosophy in the light of its contribution to the free will debate. I conclude that the encounter between the free will debate and the experimental philosophy movement is a fruitful one; the former proves the value of the latter by receiving helpful insights from it. (shrink)

This chapter highlights the common practice of appealing to lay intuitions as evidence for philosophical theories of free will. These arguments often seem to assume that the purported intuitions in question are not results of error, and the purported intuitions are generalizable to some interesting extent. Some empirical investigations of these two assumptions, including some studies that revealed intra‐personal variation in compatibilist intuitions are reviewed. The chapter examines two popular error theories, the affect Hypothesis and the Bypassing Hypothesis, which take (...) these findings to challenges. With new empirical results, it argues instead that both compatibilist and incompatibilist intuitions genuinely reflect how people think about free will and moral responsibility. A pluralistic approach of theorizing about free will that allows one to embrace either compatibilism or incompatibilism in different contexts is proposed. (shrink)

In this paper we investigate nonnormal modal systems in the vicinity of the Lewis system S1. It might be claimed that Lewis's modal systems (S1, S2, S3, S4, and S5) are the starting point of modern modal logics. However, our interests in the Lewis systems and their relatives are not (merely) historical. They possess certain syntactical features and their frames certain structural properties that are of interest to us. Our starting point is not S1, but a weaker logic S1 (S1 (...) without the schema [T]). We extend it to S1D, which can be considered as a deontic counterpart of the alethic S1. Soundness and completeness of these systems are then demonstrated within a prenormal idiom. We conclude with some philosophical remarks on the interpretation of our deontic logic. (shrink)

This book takes concepts developed by researchers in theoretical computer science and adapts and applies them to the study of natural language meaning. Summarizing over a decade of research, Chris Barker and Chung-chieh Shan put forward the Continuation Hypothesis: that the meaning of a natural language expression can depend on its own continuation.

Schizophrenia has been investigated predominately from psychological, psychiatric and neurobiological perspectives. This book is unique in examining it from a philosophical point of view. It should appeal to every reader who wants to better understand this major mental illness, providing unique insights into the 'experience' of schizophrenia.

Reputation is a key component in social interactions of group-living animals and appears to play a role in the establishment of cooperation. Animals can form a reputation of an individual by directly interacting with them or by observing them interact with a third party, i.e., eavesdropping. Elephants are an interesting taxon in which to investigate eavesdropping as they are highly cooperative, large-brained, long-lived terrestrial mammals with a complex social organisation. The aim of this study was to investigate whether captive Asian (...) elephants could form reputations of humans through indirect and/or direct experience in two different paradigms: a cooperative string-pulling task and a scenario requiring begging. Fourteen captive Asian elephants in Thailand participated in an experimental procedure that consisted of three parts: baseline, observation, and testing. In the observation phase, the subject saw a conspecific interact with two people—one cooperative/generous and one non-cooperative/selfish. The observer could then choose which person to approach in the test phase. The elephants were tested in a second session 2–5 days later. We found no support for the hypothesis that elephants can form reputations of humans through indirect or direct experience, but these results may be due to challenges with experimental design rather than a lack of capacity. We discuss how the results may be due to a potential lack of ecological validity in this study and the difficulty of assessing motivation and attentiveness in elephants. Furthermore, we highlight the importance of designing future experiments that account for the elephants' use of multimodal sensory information in their decision-making. (shrink)

This paper investigates the concept of missio Dei at Willingen and beyond, and identifies its most remarkable feature which regards God as the initiator and subject of mission, thereby redefining missio ecclesiae with three striking characteristics: first, all places of the world including both the immediate neighborhood and the uttermost parts of the earths; second, all spheres of life such as society, politics, economy and culture; and finally, all events of the time such as catastrophes in the history.In so doing, (...) this paper clearly discovers that missio Dei is here approached primarily in a differentiation from or a sharp contrast to missio ecclesiae from the start, and that, for that reason, the concept of missio Dei at Willingen and beyond has not been fully trinitarian, though it often mentions the triune God. And it also discovers that it goes further either toward an emphasis on culture on the one hand, or toward that on the world on the other hand.Such being the case, this paper suggests that it is necessary to consider the implications of the doctrine of the Trinity for mission more fully to reconfigure the concept of missio Dei. Due to some limits, this paper does not deal with this issue full-fledgedly, but intends to suggest a couple of guidelines for doing so. First, we need to approach missio Dei quite differently, that is, primarily not in relation to missio ecclesiae but in relation to processio Dei, that is, the procession of the triune God. Second, noting that, since the early church, missio Dei has been understood primarily in relation to processio Dei, we need to keep in mind that we could not discuss missio more fully without dealing with processio, and vice versa. If we have these two guidelines in mind, the concept of missio Dei would be much more abundant and fruitful. Further studies on some particular implications of the doctrine of the Trinity for mission need to be done in missiology and also theology in general in the near future. (shrink)

Understanding students’ learned hopelessness and academic self-esteem is important because the sense of controllability and competence perception can predict deficits in achievement-oriented behaviours and achievement performance. A survey was conducted to examine the role of learned hopelessness and academic self-esteem in academic achievement. Structural equation modelling was used to analyse the mediational roles of learned hopelessness and academic self-esteem in the academic achievement of 165 Hong Kong junior secondary students. The findings implied that learned hopelessness and academic self-esteem are distinct (...) constructs which play separate mediational roles between prior academic failure and academic achievement. However, the model comparisons indicated that there was no direct effect of learned hopelessness on academic self-esteem or vice versa. (shrink)

Die Idee des «Gesamtkunstwerks» war schon längst vor Wagner gegenwärtig. In zahlreichen Schriften der deutschen Frühromantiker wird das Auseinandergehen der einzelnen Künste betrachtet, aber ihr Zusammenwirken als Utopie ersehnt. Die Verfasserin versucht, ausgehend von der Stellung der Musik in der Frühromantik, die Möglichkeit im Blick zu behalten, die Sehnsucht nach der Einheit der Künste, die zunächst im literarischen sowie im philosophischen Bereich rein theoretisch, daneben jedoch auch praktisch in der Poesie und Malerei ihren Ausdruck fand, in die musikalische Romantik zu (...) übertragen, sowohl in kompositorischer als auch in wirkungsästhetischer Hinsicht. Dadurch erscheint der Zusammenhang zwischen Musik innerhalb der Idee des «Gesamtkunstwerks» in der Romantik in neuem Licht. (shrink)

In Heidegger’s Black Notebooks some ideas about political embodiment can be found, which have come under suspicion to justify the Third Reich’s race law. In the following article, the analysis and discussion of Heidegger’s political embodiment will firstly be traced back to the traditional understanding of the human as a “rational animal”, and will then look at how the “racial being” is subsequently developed and eventually transformed into political absolute subjectivism. Moreover, Heidegger’s in-depth explanation and critique on Nietzsche’s metaphysics, which (...) he views as having transformed human experiences to a metaphysical representation and thus misunderstanding human nature, will also be clarified. Through Heidegger’s critic on biologism, a profound disclosure which potentially imply an attack of the racism at his time can be shown. Furthermore, Heidegger’s thinking of Being as a kind of emancipation of European political embodiment will also be analyzed. Lastly, although Heidegger and Confucianism have different ideas of lived-body, both schools basically show the same fundamental understanding of human nature. In regard to this, their understanding of political embodiment, their similarities and divergences, will be elucidated. (shrink)

This essay aims to show that republicanism does not necessarily preclude the notion of cosmopolitan citizenship. The first part challenges the belief that republican citizenship must be tied to a nationalist reading, therefore reducing its cosmopolitan extension to a mere metaphor. Having argued that the political attributes and philosophical account of the notion of citizenship evolve according to the historical transformation of political communities, our contemporary era renders the notion of cosmopolitan citizenship plausible. Far from being irreconcilable, liberal cosmopolitanism has (...) much to gain from republicanism since a thorough analysis of globalization reveals the limitations of the traditional liberal understanding of electoral and representative democracy. The second part of this article suggests that the republican theory of contestatory democracy enables us to better define the political attributes of cosmopolitan citizenship within a liberal conceptual framework. (shrink)

Obstetric ultrasound is the well-recognized prenatal test used to visualize and determine the condition of a pregnant woman and her fetus. Apart from the clinical application, some businesses have started promoting the use of fetal ultrasound machines for nonmedical reasons. Non-medical fetal ultrasound (also known as ‘keepsake’ ultrasound) is defined as using ultrasound to view, take a picture, or determine the sex of a fetus without a medical indication. Notwithstanding the guidelines and warnings regarding ultrasound safety issued by governments and (...) professional bodies, the absence of scientifically proven physical harm to fetuses from this procedure seems to provide these businesses with grounds for rapid expansion. However, this argument is too simplistic because current epidemiological evidence is not synchronous with advancing ultrasound technology. As non-medical fetal ultrasound has aroused very significant public attention, a thorough ethical analysis of this topic is essential. Using a multifaceted approach, we analyse the ethical perspective of non-medical fetal ultrasound in terms of the expectant mother, the fetus and health professionals. After applying four major theories of ethics and principles (the precautionary principle; theories of consequentialism and impartiality; duty-based theory; and rights-based theories), we conclude that obstetric ultrasound practice is ethically justifiable only if the indication for its use is based on medical evidence. Non-medical fetal ultrasound can be considered ethically unjustifiable. Nevertheless, the ethical analysis of this issue is time dependent owing to rapid advancements in ultrasound technology and the safety issue. The role of health professionals in ensuring that obstetric ultrasound is an ethically justifiable practice is also discussed. (shrink)

The conjunction fallacy is the well-documented empirical finding that subjects sometimes rate a conjunction A&B as more probable than one of its conjuncts, A. Most explanations appeal in some way to the fact that B has a high probability. But Tentori et al. (2013) have recently challenged such approaches, reporting experiments which find that (1) when B is confirmed by relevant evidence despite having low probability, the fallacy is common, and (2) when B has a high probability but has not (...) been confirmed by relevant evidence, the fallacy is less common. They conclude that degree of confirmation, rather than probability, is the central determinant of the conjunction fallacy. In this paper, we address a confound in these experiments: Tentori et al. (2013) failed to control for the fact that their (1)-situations make B conversationally relevant, while their (2)-situations do not. Hence their results are consistent with the hypothesis that con- versationally relevant high probability is an important driver of the conjunction fallacy. Inspired by recent theoretical work that appeals to conversational relevance to explain the conjunction fallacy, we report on two experiments that control for this issue by making B relevant without changing its degree of probability or confirmation. We find that doing so increases the rate of the fallacy in (2)-situations, and leads to comparable fallacy-rates as (1)-situations. This suggests that (non-probabilistic) conversational relevance indeed plays a role in the conjunction fallacy, and paves the way toward further work on the interplay between relevance and confirmation. (shrink)

We introduce an expected-value theory of linguistic modality that makes reference to expected utility and a likelihood-based confirmation measure for deontics and epistemics, respectively. The account is a probabilistic semantics for deontics and epistemics, yet it proposes that deontics and epistemics share a common core modal semantics, as in traditional possible-worlds analysis of modality. We argue that this account is not only theoretically advantageous, but also has far-reaching empirical consequences. In particular, we predict modal versions of reasoning fallacies from the (...) heuristics and biases literature. Additionally, we derive the modal semantics in an entirely transparent manner, as it is based on the compositional semantics of Korean modal expressions that are morphosyntactically decomposed into a conditional and an evaluative predicate. (shrink)

An ontology of information belies our common intuitions about reality today and animates and governs both explicit scholarly study in philosophy and the sciences as well as the ideologies that are growing out of them. Transhumanism is one such technoscientific ideology that holds to a very specific ontology of information which need not be the only one on offer. This article argues that the transhumanist ontology of information exhibits gnostic and docetic religious overtones in it and that it devalues physical (...) existence. At the same time, despite claiming a rejection of supernature, hypothetical transhumanist practices (such as mind‐uploading) posit the infosphere as a kind of supernatural realm that is often set in opposition to the natural world. This article presents a critique of transhumanist conceptions of information and offers an alternative ontology of information that more adequately accounts for the distinction between the natural and supernatural as well as the integrity of the physical world. (shrink)

This study examines whether community social capital in US counties, as captured by strength of civic norms and density of social networks in the counties, affects corporate social responsibility of resident corporations headquartered in the counties. Analyses of longitudinal data from 3688 unique US firms between 1997 and 2009 provide strong empirical support for the propositions that community social capital facilitates positive CSR activities that benefit non-shareholder stakeholders and constrains negative CSR activities that are detrimental to non-shareholder stakeholders. Additionally, we (...) explore the effects of institutional logics arising from community isomorphism on positive and negative CSR activities, respectively. And, we explore the respective effects of corporate engagement in positive and negative CSR activities on corporate financial performance. Firms undertake more positive CSR activities when such activities are more prevalent among other local corporations headquartered in the same county. But, there is no systematic relationship between negative CSR activities and the community-level corporate engagement in negative CSR activities. Positive CSR activities enhance a firm’s future financial performance, and the positive effect is more prominent among firms headquartered in counties with high community social capital. However, negative CSR activities only reduce a firm’s future financial performance among firms headquartered in counties with high community social capital; negative CSR activities do not affect performance among firms headquartered in counties with lower levels of community social capital. Collectively, these results highlight the distinct effects of local social institutions, namely community social capital, on positive CSR activities and negative CSR activities, respectively. (shrink)