In this study, we examine the determinants of corporate environmental responsibility, as well as the relationship between legal systems and CER as measured by a unique set of global environmental cost data. Results of our analyses show that firms’ legal origins affect CER, which requires a long-term management perspective. Specifically, our results indicate that civil law firms exhibit significantly higher levels of CER than common law firms. In addition, results of an auxiliary test suggest that manager shareholding has a significant, (...) nonlinear relationship with CER. The association between a firm’s legal origin and its CER performance remains robust after controlling for the effects of managerial ownership and issues related to endogeneity. Our findings imply that although the majority of corporate law studies in the past few decades provide support for the common law system emphasizing the maximization of shareholder value and investor protection, the civil law system stressing the maximization of stakeholder wealth and the importance of CER may become more influential in the coming decades as CER becomes central to firms’ operations. (shrink)

In this study, we examine whether corporate environmental responsibility plays a role in enhancing operating performance in the financial services sector. Because achieving success with CER investing is often a long-term process, we maintain that by effectively investing in CER, executives can decrease their firms’ environmental costs, thereby enhancing operating performance. By employing a unique environmental dataset covering 29 countries, we find that the reducing of environmental costs takes at least 1 or 2 years before enhancing return on assets. We (...) also find that reducing environmental costs has a more immediate and substantial effect on the performance of financial services firms in well-developed financial markets than in less-developed financial markets. These results are economically and statistically significant and robust even after alleviating endogeneity and using an additional performance measure. We interpret our empirical results as supporting the social impact and reputation-building hypothesis. Our findings also suggest that policy makers dealing with corporate sustainability management should pursue an environment-centered industry policy not only at the manufacturing sector but also at the financial services sector, as firms in both sectors with lower environmental costs perform better. (shrink)

Although Fair Trade has recently experienced rapid growth around the world, there is lack of consumer research that investigates what determines consumers' loyalty toward Fair Trade brands. In this research, we investigate how ethical consumption values (ECV) and two mediating variables, Fair Trade product beliefs (FTPB) and Fair Trade corporate evaluation, (FTCE) determine Fair Trade brand loyalty (FTBL). On the basis of two empirical studies that use samples from the U.S. and Korea, we provide evidence demonstrating that the manner in (...) which ECV influence FTBL differs in the U.S. and Korea. In the U.S., ECV determine FTBL only indirectly via FTPB, whereas in Korea they determine FTBL directly as well as indirectly via FTCE. We discuss theoretical and managerial implications of these findings. (shrink)

We examine how corporate environmental responsibility affects the cost of equity capital for manufacturing firms in 30 countries. Using several approaches to estimate firms’ ex ante equity financing costs, we find in regressions that control for firm-level characteristics as well as industry, year, and country effects that the cost of equity capital is lower when firms have higher CER. This finding is robust to addressing endogeneity through instrumental variables, to using alternative specifications and proxies for the cost of equity capital, (...) and to accounting for noise in analyst forecasts. We conclude that investment in CER reduces firms’ equity financing costs worldwide. (shrink)

The Hwang affair, a dramatic and far reaching instance of scientific fraud, shocked the world. This collective national failure prompted various organizations in Korea, including universities, regulatory agencies, and research associations, to engage in self-criticism and research ethics reforms. This paper aims, first, to document and review research misconduct perpetrated by Hwang and members of his research team, with particular attention to the agencies that failed to regulate and then supervise Hwang’s research. The paper then examines the research ethics reforms (...) introduced in the wake of this international scandal. After reviewing American and European research governance structures and policies, policy makers developed a mixed model mindful of its Korean context. The third part of the paper examines how research ethics reform is proactive (a response to shocking scientific misconduct and ensuing external criticism from the press and society) as well as reactive (identification of and adherence to national or international ethics standards). The last part deals with Korean society’s response to the Hwang affair, which had the effect of a moral atomic bomb and has led to broad ethical reform in Korean society. We conceptualize this change as ethical modernization, through which the Korean public corrects the failures of a growth-oriented economic model for social progress, and attempts to create a more trustworthy and ethical society. (shrink)

In marketing, the use of visual-art-based designs on products or packaging crucially impacts consumers’ decision-making when purchasing. While visual art in product packaging should be designed to induce consumer’s favorable evaluations, it should not evoke excessive affective arousal, because this may lead to the depletion of consumer’s cognitive resources. Thus, consumers may use heuristic decision-making and commit an inadvertent mistake while purchasing. Most existing studies on visual arts in marketing have focused on preference using subjective evaluations. To address this, we (...) applied a neuroscientific measure, electroencephalogram to increase experimental validity. Two successive tasks were designed to examine the effects of affective arousal and affective valence, evoked by visual artwork, on the consecutive cognitive decision-making. In task 1, to evaluate the effect of visual art, EEG of two independent groups of people was measured when they viewed abstract artwork. The abstract art of neoplasticism group was showing Mondrian’s artwork, while the abstract art of expressionism group viewed Kandinsky’s artwork. The neoplasticism movement strove to eliminate emotion in art and expressionism to express the feelings of the artist. Building on Gallese’s embodied simulation theory, AbNP and AbEX artworks were expected to induce lower and higher affect, respectively. In task 2, we investigated how the induced affect differentially influenced a succeeding cognitive Stroop task. We anticipated that the AbEX group would deplete more cognitive resources than AbNP group, based on capacity limitation theory. Significantly stronger affect was induced in the AbEX group in task 1 than in the AbNP group, especially in affective arousal. In task 2, the AbEX group showed a faster reaction time and higher error rate in the Stroop task. According to our hypotheses, the higher affective arousal state of the AbEX group might deplete more cognitive resources during task 1 and result in poorer performance in task 2 because affect impacted their cognitive resources. This is the first study using neuroscientific measures to prove that high affective arousal induced by visual arts on packaging may induce heuristic decision-making in consumers, thereby advancing our understanding of neuromarketing. (shrink)

This essay reflects on the ambivalent reception of The Death of Nature among English‐speaking historians of early modern science. It argues that, despite its importance, the book was mostly ignored or marginalized by these historians for a variety of reasons. These included the special role played by the “Scientific Revolution” in the grand narrative that increasingly shaped the historiography of science beginning in the 1940s and the subsequent “hyperprofessionalism” of the discipline as a whole. The essay concludes by placing Carolyn (...) Merchant’s work in the context of feminist utopian writing of the late 1970s and calls for renewed attention to the history of the utopian genre as a resource for teachers and feminist scholars of the history of science. (shrink)

In Making Sex (1990), Thomas Laqueur argued for a dramatic shift in Western medical understandings of sex difference circa 1800, falsely claiming that before then women were generally understood as imperfect men, their genitals trapped inside their bodies by their lack of complexional heat. In fact, the period before 1800 saw the coexistence of competing traditions relating to genital anatomy and function, in which Arabic medical compendia, largely ignored by Laqueur, played an important role. European interest in the inside/out model (...) of the genitals was initially specific to the late medieval Latin surgical tradition. Later elaborated by several sixteenth-century medical writers, including the surgeons Jacopo Berengario of Carpi and Ambroise Paré, it was moribund in learned European medicine by 1600, though it continued to flourish for several decades in vernacular literature, medical and nonmedical, in large part because it invited an explicit discussion of sexual practices. (shrink)

Long noncoding RNAs have been described in cell lines and various whole tissues, but lncRNA analysis of development in vivo is limited. Here, we comprehensively analyze lncRNA expression for the adult mouse subventricular zone neural stem cell lineage. We utilize complementary genome-wide techniques including RNA-seq, RNA CaptureSeq, and ChIP-seq to associate specific lncRNAs with neural cell types, developmental processes, and human disease states. By integrating data from chromatin state maps, custom microarrays, and FACS purification of the subventricular zone lineage, we (...) stringently identify lncRNAs with potential roles in adult neurogenesis. shRNA-mediated knockdown of two such lncRNAs, Six3os and Dlx1as, indicate roles for lncRNAs in the glial-neuronal lineage specification of multipotent adult stem cells. Our data and workflow thus provide a uniquely coherent in vivo lncRNA analysis and form the foundation of a user-friendly online resource for the study of lncRNAs in development and disease. © 2013 Elsevier Inc. (shrink)

Professor Vickers extracts two or three sentences out of a long article I wrote on a completely different topic and misreads them, attributing to me statements I never made and positions I have explicitly argued against. When Francis Bacon used the metaphor of rape to refer to the Baconian natural philosopher's relationship to nature, which he did relatively infrequently, he invoked the classical, "heroic" sense of rape as the act whereby gods and heroes found dynasties and empires, as in the (...) rape of the Sabine women, the rape of Europa, and the rape of the daughters of Leucippus. (shrink)

Generalized anxiety disorder can cause significant socioeconomic burden and daily life dysfunction; hence, therapeutic intervention through early detection is important. This study was the final stage of a 3-year anxiety screening tool development project that evaluated the psychometric properties and diagnostic screening utility of the Mental Health Screening Tool for Anxiety Disorders, which measures GAD. A total of 527 Koreans completed online and offline versions of the MHS: A, Beck Anxiety Inventory, Generalized Anxiety Disorder-7, and Penn State Worry Questionnaire. The (...) participants had an average age of 38.6 years and included 340 females. Participants were also administered the Mini-International Neuropsychiatric Interview. Internal consistency, convergent/criterion validity, item characteristics, and test information were assessed based on the item response theory, and a factor analysis and cut-off score analyses were conducted. The MHS: A had good internal consistency and good convergent validity with other anxiety scales. The two versions of the MHS: A were nearly identical. It had a one-factor structure and showed better diagnostic accuracy for GAD detection than the GAD-7 and BAI. The IRT analysis indicated that the MHS: A was most informative as a screening tool for GAD. The MHS: A can serve as a clinically useful screening tool for GAD in Korea. Furthermore, it can be administered both online and offline and can be flexibly used as a brief mental health screener, especially with the current rise in telehealth. (shrink)

Do chief financial officers (CFOs) of publicly held corporations agree with the Institute of Management Accountants' (IMA) Standards of Ethical Conduct and are they willing to adopt them? To address these issues, a survey was conducted concerning the Standards. The IMA issued the Pronouncement of Standards in June, 1982.In November, 1992, 790 survey questionnaires were mailed to chief financial officers (CFOs) of corporations listed in Forbes. These CFOs held the positions of vice president of finance and controller. Completed questionnaires were (...) received from 208 CFOs representing a 26.3% response rate. The questionnaire employed a 5-point Likert scale and included seven demographic questions to facilitate the interpretation of the findings. (shrink)

Diese Arbeit beschäftigt sich mit dem Problem des malum. Während wir in der Regel ohne Zögern davon ausgehen, daß wir von Natur aus nach dem Guten streben, drängt sich dennoch zugleich die Frage nach dem Wesen, dem Ursprung und dem Sinn des malum unmittelbar auf. Aber die Frage nach dem malum ist ein immer noch offenes Problem. Aus diesem Grunde soll hier versucht werden, das Problem des malum im Hinblick auf die Geschichte der Philosophie zu erörtern. In Zentrum dieser Arbeit (...) soll die Lehre vom malum bei Thomas von Aquin stehen. Es wird dabei vor allem der Grund für ein sachgemäßes Verständnis des thomistischen Ansatzes gelegt, wie er in den Schriften De malo, Summa Theologiae und De veritate vorliegt. Er zeichnet sich vor allem durch eine differenzierte Analyse des malum aus, das als 'moralisch Schlechtes', 'Fehler in der Erkenntnis' und 'natürliches und technisches Fehlen' in Betracht gezogen wird. (shrink)