This paper studies the relationship between personal stock donation by top executives and board of directors (insiders) of publicly traded corporations and their personal tax, shareholders' returns, and social responsibility. The study finds evidence that the timing of stock donations is driven by personal tax gain. The study further shows, comparing stock gift corporations relative to their non-stock gift cohorts, that personal stock gifts are associated with lower short-term and long-term stock returns to shareholders. This implies that stock donation driven (...) by insiders' personal gain adversely affects shareholder wealth. However, the likelihood and intensity of insiders to make personal stock donation is reduced when firms have strong corporate social responsibility (CSR). Agency theory explains insiders' opportunistic behavior, stakeholder theory is also supported by evidence that stock donation is negatively related to CSR, and stewardship theory offers a different view to explain the rationale behind insiders' stock donation and shareholders' reactions to stock gifts. (shrink)

This paper studies the relationship between personal stock donation by top executives and board of directors (insiders) of publicly traded corporations and their personal tax, shareholders' returns, and social responsibility. The study finds evidence that the timing of stock donations is driven by personal tax gain. The study further shows, comparing stock gift corporations relative to their non‐stock gift cohorts, that personal stock gifts are associated with lower short‐term and long‐term stock returns to shareholders. This implies that stock donation driven (...) by insiders' personal gain adversely affects shareholder wealth. However, the likelihood and intensity of insiders to make personal stock donation is reduced when firms have strong corporate social responsibility (CSR). Agency theory explains insiders' opportunistic behavior, stakeholder theory is also supported by evidence that stock donation is negatively related to CSR, and stewardship theory offers a different view to explain the rationale behind insiders' stock donation and shareholders' reactions to stock gifts. (shrink)

Some argue that managers over-invest in corporate social responsibility (CSR) activities to build their personal reputations as good global citizens. Others claim that CEOs strategically choose CSR activities to reduce the probability of CEO turnover in a future period through indirect support from activists. Still others assert that firms use CSR activities to signal their product quality. We find that firms use governance mechanisms, along with CSR engagement, to reduce conflicts of interest between managers and non-investing stakeholders. Employing a large (...) and extensive sample of firms within Russell 2000, S& 500 and Domini 400 indices during the 1993-2004 period, we find that consistent with the conflict-resolution hypothesis, the CSR choice is positively associated with governance characteristics, including board independence, institutional ownership, and analyst following. In addition, after correcting for endogeneity of CSR engagement, our results show that CSR engagement positively influences operating performance and firm value, supporting the conflict-resolution hypothesis as opposed to the over-investment and strategic-choice arguments. We find only a weak support of the product-signaling hypothesis as a major motive of CSR engagement. (shrink)

This study examines how the sell-side analysts interpret firms’ corporate social responsibility activities. Specifically, we examine the differential impact of overall, legal, and normative CSR on the analysts’ earnings forecast dispersion, stock return volatility, cost of equity capital, and firm value. Employing a sample of U.S. public firms during 1993–2009, we find that overall CSR intensities reduce analyst dispersion of earnings forecast, volatility of stock return and cost of capital , and increase firm value. However, its impact is reduced for (...) firms with better accounting and disclosure quality. When we disaggregate CSR into legal and normative CSR, we find that legal CSR decreases analysts’ dispersion, stock return volatility, and COC, while legal CSR increases firm value. The sell-side analysts tend to have less information asymmetry regarding the net benefits of pursuing CSR that is required by laws. We find, however, that the benefit of having normative CSR realized in 1 year lag such that analyst dispersion, stock return volatility, COC decrease, respectively, and firm value increases. Furthermore, we find that the benefit of normative CSR is offset for firms with higher accounting and disclosure quality. (shrink)

In this article, we examine the empirical association between corporate governance (CG) and corporate social responsibility (CSR) engagement by investigating their causal effects. Employing a large and extensive US sample, we first find that while the lag of CSR does not affect CG variables, the lag of CG variables positively affects firms’ CSR engagement, after controlling for various firm characteristics. In addition, to examine the relative importance of stakeholder theory and agency theory regarding the associations among CSR, CG, and corporate (...) financial performance (CFP), we also examine the relation between CSR and CFP. After correcting for endogeneity bias, our results show that CSR engagement positively influences CFP, supporting the conflict-resolution hypothesis based on stakeholder theory, but not the CSR overinvestment argument based on agency theory. Furthermore, firms’ CSR engagement with the community, environment, diversity, and employees plays a significantly positive role in enhancing CFP. (shrink)

Organizational theory argues that institutional social responsibility, which represents managers’ moral values, ethics, and norms, and technical social responsibility, which represents firms’ relationship with key stakeholders, influence corporate ethical behavior. We examine and compare the impacts of strengths and concerns of institutional and technical social responsibilities on the likelihood of corporate fraud. Using a sample of 152 high-profile corporate fraud cases in the U.S. during the 2000-2010 period, we find that firms’ corporate social responsibility activities reduce the likelihood of corporate (...) fraud. More importantly, our study finds that both institutional strengths and technical strengths reduce the likelihood of corporate fraud. Institutional concerns also increase the likelihood of corporate fraud and institutional responsibility plays a more significant role than technical responsibility. Our study supports the legitimacy theory of social responsibility and highlights the importance of moral management to reduce the likelihood of corporate fraud. (shrink)

This study examines whether reputable analysts and brokerage houses as thinker-driven middlemen led corporations to engage in CSR by investigating the causal relation between CSR and analysts and brokerage houses’ reputations. While theory of information asymmetry predicts that corporations with higher level of CSR tend to attract more reputable analysts and brokerage houses such that they can disseminate valuable information to outside investors, the social pressure theory expects corporations, which receive coverage from more reputable analysts and brokerage houses, tend to (...) have higher CSR. Our findings suggest that CSR activities per se do not attract experienced analysts and reputable brokerage houses. Instead, we find that corporations which are covered by more experienced analysts and reputable brokerage houses tend to increase their CSR activities, indirectly supporting the social pressure hypothesis based on thinker-led-doer model. In addition, we find that corporations tend to have higher CSR strengths, lower CSR concerns, and increased CSR components of diversity and product when they are covered by more reputable analysts and brokerage houses. We interpret these findings are supportive of the social pressure hypothesis, rather than the information asymmetry hypothesis. (shrink)

This study investigates the effects of internal and external corporate governance and monitoring mechanisms on the choice of corporate social responsibility (CSR) engagement and the value of firms engaging in CSR activities. The study finds the CSR choice is positively associated with the internal and external corporate governance and monitoring mechanisms, including board leadership, board independence, institutional ownership, analyst following, and anti- takeover provisions, after controlling for various firm characteristics. After correcting for endogeneity and simultaneity issues, the results show that (...) CSR engagement positively influences firm value measured by industry-adjusted Tobin’s q. We find that the impact of analyst following for firms that engage in CSR on firm value is strongly positive, while the board leadership, board independence, blockholders’ ownership, and institutional ownership play a relatively weaker role in enhancing firm value. Furthermore, we find that CSR activities that address internal social enhancement within the firm, such as employees diversity, firm relationship with its employees, and product quality, enhance the value of firm more than other CSR subcategories for broader external social enhancement such as community relation and environmental concerns. (shrink)

Business Ethics, the Environment &Responsibility, Volume 32, Issue 4, Page 1452-1469, October 2023.

This study examines the impact of board diversity on firms’ corporate social responsibility performance. Using seven different measures of board diversity across 1,489 U.S. firms from 1999 to 2011, the study finds that board diversity is positively associated with CSR performance. Board diversity is associated with a greater number of areas in which CSR is strong and a fewer number of areas in which CSR is a concern. These findings support the stakeholder theory and are consistent with the view that (...) board diversity enhances firms’ ability to satisfy the needs of their broader groups of stakeholders. We find that gender, tenure, and expertise diversities seem to be the driving factors of firms’ CSR activities. Furthermore, we find that board diversity significantly increases CSR performance by increasing CSR strengths and reducing CSR concerns for firms producing consumer-oriented products and firms operating in more competitive industries. Our results remain robust using different measures of CSR performance, different estimation methods, and different samples. (shrink)

We hypothesize that CSR serves as a control mechanism to reduce deviations from optimal risk taking, and therefore, CSR curbs excessive risk taking and reduces excessive risk avoidance. Based on the stakeholder theory, firms with CSR focus must balance the interests of multiple stakeholders, and therefore, managers must allocate resources to satisfy both investing and non-investing stakeholders’ interests. Using five measures of corporate risk taking and a sample of 1718 US firms during 1998 to 2011, we find that stronger CSR (...) performance is associated with smaller deviations from optimal risk taking levels. We examine the mechanism through which CSR has an impact on firm value and find a positive indirect impact of CSR on firm value through the impact of CSR on risk taking. CSR performance is positively associated with firm value because CSR reduces excessive risk taking and risk avoidance. (shrink)

This study examines the relation between corporate social responsibility and institutional investor ownership, and the impact of this relation on stock return volatility. We find that institutional ownership does not strictly increase or decrease in CSR; rather, institutional ownership is a concave function of CSR. This evidence suggests that institutional investors do not see CSR as strictly value-enhancing activities. Institutional investors adjust their percentage of ownership when CSR activities go beyond the perceived optimal level. Employing the path analysis, we also (...) examine the mediating effect of institutional ownership on the relation between CSR and stock return volatility. We find that CSR decreases stock return volatility at a decreasing rate through its effect on institutional ownership. Our results remain robust under several different CSR measures and estimation methods. (shrink)

This article examines the empirical association between analyst coverage and corporate social responsibility (CSR) by investigating their simultaneous and causal effects, and its joint effects of CSR engagement and analyst coverage on firm risk. We find a positive association between the level and change of CSR engagement and the level and change of analyst coverage after considering simultaneity and causality. Based on the first-difference approach, we further find that the change in analyst following from the previous year affects the change (...) in CSR in the current period, whereas the change in CSR from the previous period does not influence the change in analyst following in the current period. Furthermore, we find that the change in CSR engagement as well as the interaction effect of changes in CSR and analyst coverage reduces the change of firm risk. When we examine the CSR strengths and concerns separately, analyst following does not significantly influence firms’ CSR strength but CSR concern activities decreases significantly as firms have more analyst followings. We further find the mediating role of financial analysts between CSR concerns (but not CSR strengths) and firm risk. We maintain that analysts provide indirect but additional social pressure to the firms to eventually reduce their irresponsible activities. Taken together, we interpret these results to support the stakeholder theory-based conflict-resolution explanation that considers CSR engagement as a vehicle to reduce conflicts of interest between managers and noninvesting stakeholders but not the overinvestment hypothesis that views CSR as a waste of valuable resources at the cost of shareholders. (shrink)

A growing group of institutional investors use divestment strategically to deter misconducts that are harmful for the climate and society. Based on Kantian ethics, we propose that divestment represents investors’ universal and absolute moral commitment to socially responsible investing (SRI). Following categorical and hypothetical imperatives and reciprocity as a norm, we hypothesize how institutional investors’ commit to SRI through a divestment strategy against ethically reprehensible behaviour of banks, especially when these investors represent banks themselves. Using a hand-collected database of the (...) revelation dates of enforcement actions on banks, we find evidence that banks are less likely to divest equity holding on banks with misconduct (fined banks) than their non-bank institutional investors peers. Banks that commit to invest responsibly by signing for the Principles for Responsible Investment (PRI) are not significantly more likely to divest on fined banks stocks than non-signatory banks. Moreover, divestment of fined banks whose own legitimacy to operate is in question is not significantly different from non-fined banks divestment. We find that European banks are more inclined to sell their holdings permanently on fined banks than their United States peers. Therefore, bank’s moral commitment to SRI via divestments is influenced more by cultural and reciprocity norms than their moral commitment to participate in the PRI. (shrink)

A defining characteristic of modern science is its ability to make immensely successful predictions of natural phenomena without invoking a putative god or a supernatural being. Here, we argue that this intellectual discipline would not acquire such an ability without the mathematical zero. We insist that zero and its basic operations were likely conceived in India based on a philosophy of nothing, and classify nothing into four categories—balance, absence, emptiness and nonexistence. We argue that zero is a tangible representation of (...) nonexistence and constitutes all nonzero numbers, which together represent existence. It appears that zero’s journey out of India somewhat separated its mathematical and philosophical aspects, with the former being more valued by some cultures and the latter by others. The European culture, in which modern science grew, largely ignores a philosophy of nothing due to a deep-rooted Greek philosophical base, although this science relies on the notion of nonexistence through zero. Consequently, zero is a mere number of convenience without its foundational philosophy in science, and techniques to circumvent zero are developed. We insist that, while such techniques contribute to the progress of science and mathematics within the current framework, a tendency to avoid zero and its philosophy leads to approximations and may hinder a deeper understanding. Finally, we argue that nonexistence may notionally constitute existence, and hence may be the fundamental. This implies that, if a supernatural being exists, it is not the fundamental. The independence of modern science from a supernatural being is consistent with this. (shrink)

Although not a professional historian, the author raises several issues pertinent to the state of history today.Qualifying the "non-historian" as an "able" interventionist in historical studies, the author explores the relationship between ...

Product Dimensions: 8.6 x 5.6 x 1.1 inches Description: Very little is known about the author of this book apart from the facts that he is a retired Government of India officer, now in his late nineties, apparently hoary, but healthy. When requested for more bio-data, he wrote back…The Real author of the Original Yoga is the Lord Siva. In the mundane world, Patanjali is the prime propagator of yoga. Any other claim to authorship, therefore, cannot but be spurious. …It (...) is Truth that matters, not the utterer of the Truth. No Truth ever becomes a bit truer even when repeated by the most distinguished person. …Hence all genuine aspirants of yoga should be content to remain unknown and unnoticed by others. His other published work is Hindu Concept of Life and Death. (shrink)

Architectural style is a medium for the promotion of cultural identities and cohesion. South Asian Association for Regional Cooperation nations provide a prism through which all forms of vernacular architecture can be viewed. This study is presented through the lens of the soul of the eye coupled with the power of technological probing. This synthesis affords a most appealing and lyrical exploration of the course of the development of cities within the SAARC nations. It showcases research results combining the above (...) stated synergy—starting from some of SAARC’s sophisticated historic cultures, cultures that ebbed and flowed along its shores and valleys. This paper shall touch upon unique cultural roots stretching back to the Dravidian civilization that flourished over 3500 years ago and also look at the grouping of houses within the Indus Valley Civilization in Lothal and the Sarasvati Valley Civilization in Kalibangan. The sensitivity underlying SAARC architecture and its traditions are seen in many communal settlements, profoundly so in the Indian subcontinent and in Sri Lanka. The paper shall showcase two specific, but nevertheless, distinct styles of communal functioning within unique architectural strongholds in the ancient Ratnagiri University in Odisha, India, and also touch upon a unique blend of styles of landscape architecture in Sri Lanka. The overarching emphasis of this study is that throughout SAARC’s history, architecture has been creatively adopted to the need of its users and the characteristics of its climate and location. It has always fulfilled the needs and nourished the spirit of its people, promoting cultural cohesion even today. In this context, it is interesting to explore traditional techniques of vernacular architecture in houses in Andhra, Tamil Nadu and Kerala. The common thread linking mass housing in Lothal, Kalibangan, Anuradhapura and Ratnagiri about 2 millennia ago, with present day housing patterns, is in the application of sustainable building practices using intelligent building forms, fabric and orientation. This paper explores this commonality from a modern perspective using CFD. As the SAARC countries still struggle to get a fuller understanding of their unique ecology and the complexity of their diverse cultures, revisiting the architectural legacy of their indigenous societies might prove insightful. The need for this revisit becomes even more relevant in the wake of the Paris Agreement and more recently the Kigali Agreement. The discourse on providing indoor thermal comfort to the SAARC people cannot be decoupled from the climate change story—heating, ventilation and cooling consume a large amount of energy and have a deep underlying link with the targets set at Paris and Kigali. The onus will be on a large number of stakeholders to meet these targets—engineers, architects, manufacturers, policy-makers, researchers and consumers. This paper aims at reminding the stakeholders of the richness and the usefulness of their vernacular architecture in upholding the ideal of sustainability. (shrink)

Since the conceptualization of unethical pro-organizational behavior ten years ago, scholarly interest in exploring this phenomenon has multiplied. Given a burgeoning body of empirical research, a review of unethical pro-organizational behavior literature is warranted. This study, therefore, systematically reviews the extant literature on unethical pro-organizational behavior and presents a comprehensive theory-based review of the past developments in this field. We classify previous studies based on their underlying theoretical perspectives and discuss the antecedents and consequences of unethical pro-organizational behavior in work (...) context. We also explicate the boundary conditions under which the influence of these antecedents gets accentuated or alleviated. Overall, this study synthesizes past knowledge to elucidate why, how, and when unethical pro-organizational behavior unfolds in the workplace. Finally, the gaps in the extant theorization are identified and an agenda for future research is proposed. (shrink)

Arbuscular mycorrhizal fungi are considered as a potential biotechnological tool for improving phytostabilization efficiency and plant tolerance to heavy metal-contaminated soils. However, the mechanisms through which AMF help to alleviate metal toxicity in plants are still poorly understood. A greenhouse experiment was conducted to evaluate the effects of two AMF species on the growth, Pb accumulation, photosynthesis and antioxidant enzyme activities of a leguminous tree at Pb addition levels of 0, 500, 1000 and 2000 mg kg-1 soil. AMF symbiosis decreased (...) Pb concentrations in the leaves and promoted the accumulation of biomass as well as photosynthetic pigment contents. Mycorrhizal plants had higher gas exchange capacity, non-photochemistry efficiency, and photochemistry efficiency compared with non-mycorrhizal plants. The enzymatic activities of superoxide dismutase, ascorbate peroxidases and glutathione peroxidase were enhanced, and hydrogen peroxide and malondialdehyde contents were reduced in mycorrhizal plants. These findings suggested that AMF symbiosis could protect plants by alleviating cellular oxidative damage in response to Pb stress. Furthermore, mycorrhizal dependency on plants increased with increasing Pb stress levels, indicating that AMF inoculation likely played a more important role in plant Pb tolerance in heavily contaminated soils. Overall, both F. mosseae and R. intraradices were able to maintain efficient symbiosis with R. pseudoacacia in Pb polluted soils. AMF symbiosis can improve photosynthesis and reactive oxygen species scavenging capabilities and decrease Pb concentrations in leaves to alleviate Pb toxicity in R. pseudoacacia. Our results suggest that the application of the two AMF species associated with R. pseudoacacia could be a promising strategy for enhancing the phytostabilization efficiency of Pb contaminated soils. (shrink)

In a Common Law system, legal practitioners need frequent access to prior case documents that discuss relevant legal issues. Case documents are generally very lengthy, containing complex sentence structures, and reading them fully is a strenuous task even for legal practitioners. Having a concise overview of these documents can relieve legal practitioners from the task of reading the complete case statements. Legal catchphrases are (multi-word) phrases that provide a concise overview of the contents of a case document, and automated generation (...) of catchphrases is a challenging problem in legal analytics. In this paper, we propose a novel supervised neural sequence tagging model for the extraction of catchphrases from legal case documents. Specifically, we show that incorporating document-specific information along with a sequence tagging model can enhance the performance of catchphrase extraction. We perform experiments over a set of Indian Supreme Court case documents, for which the gold-standard catchphrases (annotated by legal practitioners) are obtained from a popular legal information system. The performance of our proposed method is compared with that of several existing supervised and unsupervised methods, and our proposed method is empirically shown to be superior to all baselines. (shrink)

This book highlights some of the most pressing safety, ethical, legal and societal issues related to the diverse contexts in which robotic technologies apply. Focusing on the essential concept of well-being, it addresses topics that are fundamental not only for research, but also for industry and end-users, discussing the challenges in a wide variety of applications, including domestic robots, autonomous manufacturing, personal care robots and drones.

ABSTRACT:A wide range of research uses patterns of genetic variation to infer genetic similarity between individuals, typically referred to as genetic ancestry. This research includes inference of human demographic history, understanding the genetic architecture of traits, and predicting disease risk. Researchers are not just structuring an intellectual inquiry when using genetic ancestry, they are also creating analytical frameworks with broader societal ramifications. This essay presents an ethics framework in the spirit of virtue ethics for these researchers: rather than focus on (...) rule following, the framework is designed to build researchers’ capacities to react to the ethical dimensions of their work. The authors identify one overarching principle of intellectual freedom and responsibility, noting that freedom in all its guises comes with responsibility, and they identify and define four principles that collectively uphold researchers’ intellectual responsibility: truthfulness, justice and fairness, anti-racism, and public beneficence. Researchers should bring their practices into alignment with these principles, and to aid this, the authors name three common ways research practices infringe these principles, suggest a step-by-step process for aligning research choices with the principles, provide rules of thumb for achieving alignment, and give a worked case. The essay concludes by identifying support needed by researchers to act in accord with the proposed framework. (shrink)

We discuss a simple logic to describe one of our favourite games from childhood, hide and seek, and show how a simple addition of an equality constant to describe the winning condition of the seeker makes our logic undecidable. There are certain decidable fragments of first-order logic which behave in a similar fashion and we add a new modal variant to that class of logics. We also discuss the relative expressive power of the proposed logic in comparison to the standard (...) modal counterparts. (shrink)

In the domain of legal information retrieval, an important challenge is to compute similarity between two legal documents. Precedents play an important role in The Common Law system, where lawyers need to frequently refer to relevant prior cases. Measuring document similarity is one of the most crucial aspects of any document retrieval system which decides the speed, scalability and accuracy of the system. Text-based and network-based methods for computing similarity among case reports have already been proposed in prior works but (...) not without a few pitfalls. Since legal citation networks are generally highly disconnected, network based metrics are not suited for them. Till date, only a few text-based and predominant embedding based methods have been employed, for instance, TF-IDF based approaches, Word2Vec and Doc2Vec based approaches. We investigate the performance of 56 different methodologies for computing textual similarity across court case statements when applied on a dataset of Indian Supreme Court Cases. Among the 56 different methods, thirty are adaptations of existing methods and twenty-six are our proposed methods. The methods studied include models such as BERT and Law2Vec. It is observed that the more traditional methods that rely on a bag-of-words representation performs better than the more advanced context-aware methods for computing document-level similarity. Finally we nominate, via empirical validation, five of our best performing methods as appropriate for measuring similarity between case reports. Among these five, two are adaptations of existing methods and the other three are our proposed methods. (shrink)

When agents know a protocol, this leads them to have expectations about future observations. Agents can update their knowledge by matching their actual observations with the expected ones. They eliminate states where they do not match. In this paper, we study how agents perceive protocols that are not commonly known, and propose a semantics-driven logical framework to reason about knowledge in such scenarios. In particular, we introduce the notion of epistemic expectation models and a propositional dynamic logic-style epistemic logic for (...) reasoning about knowledge via matching agentsÊ expectations to their observations. It is shown how epistemic expectation models can be obtained from epistemic protocols. Furthermore, a characterization is presented of the effective equivalence of epistemic protocols. We introduce a new logic that incorporates updates of protocols and that can model reasoning about knowledge and observations. Finally, the framework is extended to incorporate fact-changing actions, and a worked-out example is given. © 2013 Elsevier B.V. (shrink)

We make a proposal for formalizing simultaneous games at the abstraction level of player’s powers, combining ideas from dynamic logic of sequential games and concurrent dynamic logic. We prove completeness for a new system of ‘concurrent game logic’ CDGL with respect to finite non-determined games. We also show how this system raises new mathematical issues, and throws light on branching quantifiers and independence-friendly evaluation games for first-order logic.

As the annual air passenger traffic in India is increasing steeply, an environmental impact assessment on important cities connected by air is becoming increasingly indispensable. This study proposes an innovative screening method that uses a modified Environmental Vulnerability Index. This modified EVI calculator includes aviation-related parameters and can be used to assess the environmental vulnerabilities of political states and cities, in addition to countries as is being already done. This study also suggests the need to include aspects of human comfort (...) in the screening process through the use of state-of-the-art computational fluid dynamical software and large eddy simulations which can be used to estimate forces experienced by aircraft of different sizes during in-flight turbulence for various weather conditions. A comparative analysis is presented on how changing the size of the aircraft operating in a particular route between the cities of Chennai and Bengaluru has better implications on both passenger comfort and the environment. It is observed that if commercial airlines incorporated fewer medium-sized aircraft, there would be a significant reduction in the environmental vulnerability of the two connected cities. (shrink)

The task of rhetorical role labeling is to assign labels (such as Fact, Argument, Final Judgement, etc.) to sentences of a court case document. Rhetorical role labeling is an important problem in the field of Legal Analytics, since it can aid in various downstream tasks as well as enhances the readability of lengthy case documents. The task is challenging as case documents are highly various in structure and the rhetorical labels are often subjective. Previous works for automatic rhetorical role identification (...) (i) mainly used Conditional Random Fields over manually handcrafted features, and (ii) focused on certain law domains only (e.g., Immigration cases, Rent law), and a particular jurisdiction/country (e.g., US, Canada, India). In this work, we improve upon the prior works on rhetorical role identification by proposing novel Deep Learning models for automatically identifying rhetorical roles, which substantially outperform the prior methods. Additionally, we show the effectiveness of the proposed models over documents from five different law domains, and from two different jurisdictions—the Supreme Court of India and the Supreme Court of the UK. Through extensive experiments over different variations of the Deep Learning models, including Transformer models based on BERT and LegalBERT, we show the robustness of the methods for the task. We also perform an extensive inter-annotator study and analyse the agreement of the predictions of the proposed model with the annotations by domain experts. We find that some rhetorical labels are inherently hard/subjective and both law experts and neural models frequently get confused in predicting them correctly. (shrink)