PurposeThe deployment and strategic use of e‐business, from basic e‐mail utilization to total enterprise integration, involves the commitment of financial and technical resources. The resources have to be financed. The purpose of this paper is to ascertain the views of trade promotion organizations, donors, export associations and banks on e‐business financing in Ghana's non‐traditional export sector, with the view to making policy contributions to the e‐business financing phenomenon in a developing economy context.Design/methodology/approachThe research design is qualitative since (...) this is an exploratory study and deep preliminary insights were sought about a hitherto under‐researched information systems topic from a developing country perspective. Officials from the trade promotion; export association, donor and financial communities were interviewed to generate insights to help understand the phenomenon under investigation.FindingsSome banks find it difficult financing e‐business in NTE firms because it is considered a new area with relatively higher risks and uncertainties. Banks would rather grant small loans to a few select small and medium enterprise exporters in an attempt to limit their default risk. The trade promotion organization is helping with up‐skilling for the improvement in e‐competencies in Ghana's NTE sector. The export product association in collaboration with the donor interviewed is in the throes of designing e‐business interventions in Ghana's NTE sector after recently completing an e‐readiness survey in the same sector.Originality/valueThis paper presents a modest contribution to the export firm‐electronic business literature from a resource‐centered perspective, in a DE context. Studies on e‐business financing in DEs are virtually non‐existent and the policy prescriptions could apply with minor modifications to other related contexts in respect of e‐business financing. (shrink)

It is widely recognized that accurately identifying and classifying competitors is a challenge for many companies and entrepreneurs. Nonetheless, it is a paramount activity which provide valuable insights that affect a wide range of strategic decisions. One of the main challenges in competitor identification lies in the complex nature of the competitive relationships that arise in business envi- ronments. These have been extensively investigate over the years, which lead to a plethora of competition theories and frameworks. Still, the concept (...) of competition remains conceptually complex, as none of these approaches properly formalized their assumptions. In this paper, we address this issue by means of an ontological analysis on the notion of competition in general, and of business competition, in particular, leveraging theories from various fields, including Marketing, Strategic Management, Ecology, Psychology and Cognitive Sciences. Our analysis, the first of its kind in the literature, is grounded on the Unified Foundational Ontology (UFO) and allows us to formally characterize why competition arises, as well as to distinguish between three types of business competitive relationships, namely market-level, firm-level and potential competition. (shrink)

Dwellers in the Land focuses on the realistic development of these bioregionally focused communities and the places where they are established to create a ...

Types are fundamental for conceptual modeling and knowledge representation, being an essential construct in all major modeling languages in these fields. Despite that, from an ontological and cognitive point of view, there has been a lack of theoretical support for precisely defining a consensual view on types. As a consequence, there has been a lack of precise methodological support for users when choosing the best way to model general terms representing types that appear in a domain, and for building sound (...) taxonomic structures involving them. For over a decade now, a community of researchers has contributed to the development of the Unified Foundational Ontology (UFO) - aimed at providing foundations for all major conceptual modeling constructs. At the core of this enterprise, there has been a theory of types specially designed to address these issues. This theory is ontologically well- founded, psychologically informed, and formally characterized. These results have led to the development of a Conceptual Modelling language dubbed OntoUML, reflecting the ontological micro-theories comprising UFO. Over the years, UFO and OntoUML have been successfully employed on conceptual model design in a variety of domains including academic, industrial, and governmental settings. These experiences exposed improvement opportunities for both the OntoUML language and its underlying theory, UFO. In this paper, we revise the theory of types in UFO in response to empirical evidence. The new version of this theory shows that many of OntoUML’s meta-types (e.g. kind, role, phase, mixin) should be considered not as restricted to substantial types but instead should be applied to model endurant types in general, including relator types, quality types, and mode types. We also contribute with a formal characterization of this fragment of the theory, which is then used to advance a new metamodel for OntoUML (termed OntoUML 2). To demonstrate that the benefits of this approach are extended beyond OntoUML, the proposed formal theory is then employed to support the definition of UFO-based lightweight Semantic Web ontologies with ontological constraint checking in OWL. Additionally, we report on empirical evidence from the literature, mainly from cognitive psychology but also from linguistics, supporting some of the key claims made by this theory. Finally, we propose a computational support for this updated metamodel. (shrink)

This wide-ranging book examines the new dynamics of corporate social responsibility and the impact they have had on the transformation of business corporations. Written by an international group of distinguished experts in management and organization studies, economics and sociology, the book leads one to theoretically and practically rethink CSR, a movement that has developed into a strong and rich institutional domain since the mid 1990s. Through 14 chapters, the book shows the complexity, diversity and progression of the institutional work (...) performed by a large number of individual and organizational actors in specialized networks to develop this strategic field. Central to this book are: the core issues associated with the field of CSR; recent advances in the development, dissemination and implementation of public and private standards of social responsibility; the pressing challenges of developing sustainable strategies of value creation in the face of global warming and underdevelopment; and finally, examples of how CSR has been implemented and institutionalized within business organizations with special attention to the role played by a variety of social actors in organizational change. Conceived as a movement, corporate social responsibility spearheads a transformation project challenging traditional and outmoded forms of corporate governance that frequently pose troublesome ethical issues. From this standpoint, Corporate Social Responsibility and Corporate Change will serve as a reference point for academics, researchers, managers and practitioners. (shrink)

The example of the bees, as they appear in Plato’s Phaedo, taken up again in Aristotle’s Politics and in Hobbes’ commentary contained in Leviathan, shows the potential of the phenomenological reading of examples as a method of understanding the basis on which philosophical thought is determined. Sign and communication are peculiar to gregarious and political animal life. In seeking to embody the Aristotelian concept of lógos in the context of a living community, as the basis for interaction and co-existence, we (...) must be sure that our interpretation does not reduce it to what, according to Aristotle, is simply animal behaviour. The Platonic sequence “ass, wolf, bee, god” situates the model of political life between a life in injustice and a life in wisdom. The Aristotelian variationdetermines the lógos on what is just and what is unjust as a natural increment in lucidity, compared with the mere exercising of gregariousness and sociability. Hobbes’ inversion of the Aristotelian example considers a natural reality in the light of the distortions that complicate and make it impossible. Hobbes thus shifts human politics towards artificiality that renders it viable. In each case, the example holds up a different mirror to the same reality. (shrink)

In recent years, there has been an increasing interest in the development of well-founded conceptual models for Service Management, Accounting Information Systems and Financial Reporting. Economic ex- changes are a central notion in these areas and they occupy a prominent position in frameworks such as the Resource-Event Action (REA) ISO Standard, service core ontologies (e.g., UFO-S) as well as financial stan- dards (e.g. OMG’s Financial Industry Business Ontology - FIBO). We present a core ontology for economic exchanges inspired by (...) a recent view on this phenomenon. According to this view, economic exchanges are based on an agreement on the actions that the agents are committed to perform. This view enables a unified treatment of economic exchanges, regardless the object of the transaction. We ground our core ontology on the Unified Foundational Ontology (UFO), discussing its formal and conceptual aspects, instantiating it as a reusable OntoUML model, and confronting it with the REA standard and the UFO-S service ontology. (shrink)

Tongan people in Aotearoa New Zealand experience higher rates of mental health challenges than Tongans born in Tonga. Engagement with services is lower for Pacific Island groups than it is for the dominant population in Aotearoa New Zealand. Meanwhile, the Pacific population is growing in Aotearoa New Zealand year after year. This paper explores how services could use evidence to support more appropriate responses for Pacific Islanders, in particular, Tongan communities. It takes recovery in mental health and explores the relevant (...) concepts that would better support engagement and response for Tongans in Aotearoa New Zealand. (shrink)

Enterprise Risk Management involves the process of identification, evaluation, treatment, and communication regarding risks throughout the enterprise. To support the tasks associated with this process, several frameworks and modeling languages have been proposed, such as the Risk and Security Overlay (RSO) of ArchiMate. An ontological investigation of this artifact would reveal its adequacy, capabilities, and limitations w.r.t. the domain of risk and security. Based on that, a language redesign can be proposed as a refinement. Such analysis and redesign have been (...) executed for the risk elements of the RSO grounded in the Common Ontology of Value and Risk. The next step along this line of research is to address the following research problems: What would be the outcome of an ontological analysis of security-related elements of the RSO? That is, can we identify other semantic deficiencies in the RSO through an ontological analysis? Once such an analysis is provided, can we redesign the security elements of the RSO accordingly, in order to produce an improved artifact? Here, with the aid of the Reference Ontology for Security Engineering (ROSE) and the ontological theory of prevention behind it, we address the remaining gap by proceeding with an ontological analysis of the security-related constructs of the RSO. The outcome of this assessment is an ontology-based redesign of the ArchiMate language regarding security modeling. In a nutshell, we report the following contributions: (1) an ontological analysis of the RSO that identifies six limitations concerning security modeling; (2) because of the key role of the notion of prevention in security modeling, the introduction of the ontological theory of prevention in ArchiMate; (3) a well-founded redesign of security elements of ArchiMate; and (4) ontology-based security modeling patterns that are logical consequences of our proposal of redesign due to its underlying ontology of security. As a form of evaluation, we show that our proposal can describe risk treatment options, according to ISO 31000. Finally, besides presenting multiple examples, we proceed with a real-world illustrative application taken from the cybersecurity domain. (shrink)

In recent years, there has been an increasing interest in thedevelopment of ontologically well-founded conceptual models for Information Systems in areas such as Service Management, Accounting Information Systems and Financial Reporting. Economic exchanges are central phenomena in these areas. For this reason, they occupy a prominent position in modelling frameworks such as the REA (Resource-EventAction) ISO Standard as well as the FIBO (Financial Industry BusinessOntology). In this paper, we begin a well-founded ontological analysisof economic exchanges inspired by a recent ontological (...) view on the nature of economic transactions. According to this view, what counts asan economic transaction is based on an agreement on the actions thatthe agents are committed to perform. The agreement is in turn based on convergent preferences about the course of action to bring about. This view enables a unified treatment of economic exchanges, regardless the object of the transaction, and complies with the view that all economictransactions are about services. In this paper, we start developing our analysis in the framework of the Unified Foundational Ontology (UFO). (shrink)

For over a decade now, a community of researchers has contributed to the development of the Unified Foundational Ontology (UFO) - aimed at providing foundations for all major conceptual modeling constructs. This ontology has led to the development of an Ontology-Driven Conceptual Modeling language dubbed OntoUML, reflecting the ontological micro-theories comprising UFO. Over the years, UFO and OntoUML have been successfully employed in a number of academic, industrial and governmental settings to create conceptual models in a variety of different domains. (...) These experiences have pointed out to opportunities of improvement not only to the language itself but also to its underlying theory. In this paper, we take the first step in that direction by revising the theory of types in UFO in response to empirical evidence. The new version of this theory shows that many of the meta-types present in OntoUML (differentiating Kinds, Roles, Phases, Mixins, etc.) should be considered not as restricted to Substantial types but instead should be applied to model Endurant Types in general, including Relator types, Quality types and Mode types. We also contribute a formal characterization of this fragment of the theory, which is then used to advance a metamodel for OntoUML 2.0. Finally, we propose a computational support tool implementing this updated metamodel. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:How I Lost My HearingJanessa SalesI was born as a healthy and strong hearing person, but I became deaf through a result of painful and traumatic cancer treatments. I was diagnosed with a malignant brain tumor called Germinoma in 2003. I went through surgery, chemotherapy, and radiation. I was good for one and a half years. However, in 2005 when I turned 12 my cancer relapsed. My doctors told (...) me and my family that I had to undergo a much stronger treatment plan called a Bone Marrow Transplant (BMT). One of the possible side effects to this treatment was hearing loss. I unfortunately received this devastating side effect.I still remember the day that I lost my hearing. Before going to sleep that night, I received a dose of chemo. Waking up the next morning, something was terribly wrong. I couldn’t hear anything! I felt as if I were wearing earplugs. I called for my mother and I told her the alarming news, but as she was speaking back to me, I strained to hear her voice. All I saw were her lips moving. My doctors made arrangements for me to get my hearing tested with an audiologist.As the days that passed, I went through a deep depression. My doctors and my family tried different ways to communicate with me. They used note pads or white boards and wrote down what they wanted to say to me. As my hearing lessened, my other senses kicked in. I read body language and expressions. I learned to read lips. It was a little over a month before I got my hearing aids.Going back to school was very difficult, but my hearing loss, in itself, wasn’t as traumatic as the refusal to accept my new life. I spent the next four years trying to be hearing—trying to fix myself— trying to be what I once was. I always strained my ears trying to listen to my teachers. I tried fitting in with my friends, trying to keep up with their conversations, but it was no use. I couldn’t hear a thing; I was lost and confused.However, during my eighth grade year, I was given the choice to transfer to a different school. It was a mainstream school that had a DHH (Deaf and Hard of Hearing) program. It was a scary transition going to a new school, not knowing anybody. I hesitated and did not want to go at first, but eventually I got over my fears.When I transferred over to the other middle school, I still felt lost. I was still trying to be a hearing student. I only knew how to be auditory learner. I couldn’t focus because I wasn’t able to hear my teachers. I was new at sign language, so I couldn’t understand any of my interpreters. I had frequent meltdowns every week.I felt like I didn’t fit into the deaf world or the hearing world. I couldn’t understand either one. I was always misunderstanding my hearing friends, and I wasn’t able to understand my deaf peers because I didn’t fully know their language. I had low self–esteem and I felt like I didn’t belong anywhere.I had to learn to become a visual learner. I was given the use of a Frequency Modulated (FM) system. The FM system is an assistive listening device worn by the speaker to amplify his/her voice and transmit it directly to the listener’s ears via an electronic receiver and special earphones or the listener’s own hearing aids. I also had an interpreter and closed captions when needed.My DHH teacher Mr. H, who was my greatest mentor and role model, set me up with an Individualized Educational Program (IEP) that required that I had to have my homework written down instead being verbally told. I was allowed to have more time on tests when needed, and a note taker for lectures. All of these arrangements really helped me through my new “deaf world.”My mother and I took Sign Language classes at Sacramento State University where Mr. H also taught... (shrink)

This article examines the fairness of business competition in the field of information and communication technologies. In the era of "postcontemporary society" economy, the dominant factor of development is the use of information. The share of business in the field of information and communication technologies in the economy is constantly growing. For businesses, its integration into the Internet, which has become an important market for the sale and promotion of goods and services, is becoming increasingly important. Various digital (...) innovations, social networks, mobile applications, information and communication technologies have become commonplace in today's society, which affects the need to study their impact on business. Technology transfer is the basis of innovative activities of small businesses and a means of their sustainable development, a guarantee of profit and social impact. It is noted that in order to win in the competition, personal brand and trademarks, strategic management and balanced business plans are of special importance. A characteristic feature of leading high-tech companies is the use of digital platforms through which they provide their services. Digital platforms are used for interaction in social networks, use of search and payment systems, exchange of information materials. The need for high start-up costs leads to the difficulty of entering this market and the concentration of large amounts of data in the hands of a small number of players, which carries the threat of monopolization in the market of digital platforms. (shrink)

A scientific community can be modeled as a collection of epistemic agents attempting to answer questions, in part by communicating about their hypotheses and results. We can treat the pathways of scientific communication as a network. When we do, it becomes clear that the interaction between the structure of the network and the nature of the question under investigation affects epistemic desiderata, including accuracy and speed to community consensus. Here we build on previous work, both our own and others’, in (...) order to get a firmer grasp on precisely which features of scientific communities interact with which features of scientific questions in order to influence epistemic outcomes. (shrink)

This article draws attention to the silent relationship ─ both in written and archeological sources ─ between monasteries and the production of parchment in Late Antiquity, particularly in Visigothic Spain, where there is little archaeological data concerning early monastic communities. Once contextualized, the little, indirect evidence for the production of parchment may provide a valuable argument for the identification of Christian monastic buildings in certain archaeological sites that have been classified according to other typologies, at a time of major changes, (...) during which the parchment codex has replaced the papyrus roll. (shrink)

This volume provides a comprehensive account of Wilhelm Röpke as a liberal political economist and social philosopher. Wilhelm Röpke was a key protagonist of transatlantic neoliberalism, a prominent public intellectual and a gifted international networker. As an original thinker, he always positioned himself at the interface between political economy and social philosophy, as well as between liberalism and conservatism. Röpke’s endeavors to combine these elements into a coherent whole, as well as his embeddedness in European and American intellectual networks of (...) liberal and conservative thinkers, are a central theme throughout the book. The volume includes papers by international experts from a conference in Geneva on the occasion of the 50th anniversary of Röpke’s passing. The first part focuses on new biographical insights into his exile years in Istanbul and Geneva, while the second part discusses his business cycle theory in the context of the Great Depression, and the third part elaborates on his multifaceted social philosophy. Wilhelm Röpke was among the most important thinkers within the classical liberal revival post-WWII, with intriguing tensions between liberalism and conservatism. A highly recommended volume. –– Peter J. Boettke, 2016-2018 President of the Mont Pèlerin Society and Professor of Economics and Philosophy, George Mason University This important collection of papers provides an in-depth assessment of Wilhelm Röpke’s contributions, placing him in the context of his time. A fine contribution. –– Bruce J. Caldwell, Director of the Center for the History of Political Economy and Research Professor of Economics, Duke University. (shrink)

This article explores verbal and visual language use in Zimbabwean contraceptive promotional brochures distributed from the early to mid-1980s. Drawing on recent work in critical discourse analysis of text and visual design, the article uses multimodal discourse analysis and draws from Halliday’s Systemic Functional Grammar’s transitivity analysis to analyze family planning pamphlets, focusing on the discursive construction of women as contraceptive users. The article argues that the salience of the language of risk and vulnerability, which is textually and visually deployed (...) throughout the pamphlets, discursively constructs risk as a feature of unequal power relations. The article further argues that underlying the overarching discourse on risk are multiple ‘silences’ that discursively construct an ideological difference consisting of oppositional binaries between ‘us’ and ‘them’ in terms of power relations. The differentiation of social groups reflects ‘hidden’ social inequalities in the text and visual images. (shrink)

Formal Ontology is a discipline whose business is to develop formal theories about general aspects of reality such as identity, dependence, parthood, truth-making, causality, etc. A foundational ontology is a specific consistent set of these ontological theories that support activities such as domain analysis, conceptual clarification, and meaning negotiation. A (well-founded) core ontology specifies, under a foundational ontology, the central concepts and relations of a given domain. Foundational and core ontologies can be seen as ontology engineering frameworks to systematically (...) address the laborious task of building large (more specific) domain ontologies. However, both in research and industry, it is common that ontologies as computational artifacts are built without the aid of any framework of this kind, often yielding modeling mistakes and representation gaps. In this paper, we analyze a case in the domain of cybersecurity, namely, the case of D3FEND — an OWL knowledge graph of cybersecurity countermeasure techniques proposed by the MITRE Corporation. Based on the Reference Ontology for Security Engineering (ROSE), a core ontology of the security domain founded in the Unified Founda-tional Ontology (UFO), our investigation reveals a number of semantic issues and opportunities for improvement in D3FEND, including missing concepts, semantic overload of terms, and lacking constraints that cause an under-specification of the model. As a result of our ontological analysis, we propose several suggestions for the appropriate redesign of D3FEND to overcome those issues. (shrink)

The present paper explores, theoretically, and empirically, whether compliance with the International Code of marketing of breast-milk substitutes impacts on financial performance measured by stock markets. The empirical analysis, which considers a 20-year period, shows that stock markets are indifferent to the level of compliance by manufacturers with the International Code. Two important issues emerge from this result. Based on our finding that financial performance as measured by stock markets cannot explain the level of compliance, the first issue refers to (...) what alternative types of mechanisms drive manufacturers who comply the least with voluntary codes such as the International Code. Conversely, from our finding that stock markets do not reward the most compliant, the second issue raised is an inherent weakness of stock markets to fully incorporate social and environmental values. (shrink)

Psychodrama is an effective psychotherapeutic model but interventions with adolescents require age-tailored techniques that maximize engagement and facilitate communication processes. This study describes a novel adaptation of a therapeutic mask technique to psychodrama with adolescents. Over the course of eight group sessions of psychodrama, five adolescents created their own mask and explored its therapeutic use. Their experiences were captured at the end of each session with the Helpful Aspects of Therapy form, and at the end of the study with the (...) Clinical Change Interview. Awareness/insight/self-understanding, empowerment and relief were the most significant aspects experienced by the adolescents, along with perceived increase of calmness and world connection, satisfaction in interpersonal communication and better emotional expression and regulation. The mask technique was experienced as a playful and engaging task that facilitated insight and interpersonal communication. Findings provide preliminary evidence on the clinical utility of mask-based psychodrama with adolescents. (shrink)

Our research has found that companies which have diverged from traditional management in order to adopt strategies which include ethics, cooperation and a joint vision of management obtain a greater added value. The new challenges of competitiveness require a position of active cooperation between firms and their suppliers, which should be considered as collaborators rather than adversaries. An active cooperation management may well allow the company to improve the quality of its products and its image, speed up delivery to its (...) clients and make its production and trading more agile, thus enhancing the perception the client has of the product. An improved ethical quality in our dealings, generating trust, improving communication and establishing long-term relationships with joint added value, results in higher competitiveness and greater creation of wealth. (shrink)

What makes political freedom valuable to us? Two well-known arguments are that freedom contributes to our desire satisfaction and to our personal responsibility. Here, Boudewijn de Bruin argues that freedom is valuable when it is accompanied by knowledge. He offers an original and systematic account of the relationship between freedom and knowledge and defends two original normative ideals of known freedom and acknowledged freedom. -/- By combining psychological perspectives on choice and philosophical views on the value of knowledge, he shows (...) how known freedom is crucial to satisfy our desires and assume responsibility. Known freedom is compromised when salespeople deploy consumer-obfuscation, or when news outlets use contextual framing techniques to steer the way their audiences process information. Conversely, carefully developed consumer protection and information disclosure regulation can foster known freedom. Acknowledged freedom, from ethical and economic perspectives, offers protection and makes our freedoms more stable. It embodies an ideal of mutual recognition that underlies informed consent and the ethics of communication, and can also contribute to a flourishing corporate culture. -/- This book integrates and extends cutting-edge research from philosophy, economics, psychology, and law to reorient debates on privacy, neuromarketing, sustainable finance, corporate culture, consumer protection, media violence, and freedom of speech. -/- An original account of the relation between freedom and knowledge, integrating cutting-edge research from philosophy, economics, psychology, and law; defends the ideals of known and acknowledged freedom; offers new perspectives on debates surrounding privacy, corporate culture, consumer protection, freedom of speech, and more -/- Introduction: Why Freedom is Not Enough 1:From Choice Overload to Discrimination: Arguments for Freedom 2:From Brainwashing to Neuromarketing: Freedom of Belief 3:From the Value of Knowledge to Skills and Stereotypes: The Individual Ideal of Known Freedom 4:From Common Knowledge to the Ethics of Communication: The Social Ideal of Acknowledged Freedom 5:Sustainable Finance and Responsible Investors 6:Ethics Management and Informed Stakeholders 7:Freedom of Speech and Consumer Autonomy 8:Liberal Privacy and Legal Protection Conclusion: How Freedom Can Be Sufficient . (shrink)

This Chapter studies legislative initiatives around sustainable finance deriving from the Action Plan: Financing Sustainable Growth (also called ‘Sustainable Finance Action Plan’, ‘Action Plan’ henceforth), published by the European Commission (‘Commission’) in 2018 (Communication 2018/97). I evaluate various instruments proposed in the Action Plan, using a reflexive law approach coupled with insights from business ethics and epistemology (De Bruin, 2013, 2015). I point to the challenges such an approach encounters, and offer suggestions how to address them. Reflexive (...) law approaches to legislation (Farber 1994, Hess 1999, Orts 1994, Farmer & Teubner 1994) acknowledge the limits of law as an instrument to realize social or political goals, and stress the need to encourage self-reflection and transparency among stakeholders through procedural rather than ‘command-and-control’ legislation. Typical reflexive law instruments involve disclosure, reporting, and labelling. Examining the Action Plan, I show that the main legislative instruments it puts forward are reflexive. I use empirical and theoretical work that challenges the effectiveness of some of these instruments. Drawing on recent work from behavioural economics I suggest that these problems may be overcome once we integrate more fully in reflexive law what it means for people ‘reflectively’ to recruit evidence and gather knowledge, and once we appreciate the value knowledge has over and above mere belief. My argument here is not so much to the effect that more interventionist regulatory tools are needed (they are dearly needed, but that is not the point here). Rather I argue that once a regulator opts for a reflexive law approach, a richer notion of information should be deployed. I call this ‘epistemic’ instead of ‘reflexive’ law. The Chapter gives some background information about the Action Plan, introduces the core ideas of reflexive law, shows how the Action Plan is reflexive law par excellence, considers the challenges, and offers a few modest suggestions. (shrink)

This second edition of the ground-breaking Ethics in Finance is an up-to-date, valuable addition to the emerging field of finance ethics. Citing examples of the scandals that have shaken public confidence in Wall Street, John R. Boatright explains the importance of ethics in the operation of financial markets and institutions and in the conduct of finance professionals." "Focusing on standards of fairness in market transactions and the duties of fiduciaries and agents in financial relationships, the author introduces (...) a broad range of practical issues related to financial markets, the financial services industry, investment decision making, and corporate financial management. In addition to the topics considered in the first edition, including unethical sales practices, insider trading, the abuse of bankruptcy, and hostile takeovers, the second edition of Ethics in Finance has a broadened scope, incorporating new discussions of issues in mutual funds, conflict of interest, and the financial theory of the firm." "This timely and comprehensive book provides an analysis of ethical issues in finance, suitable for students of finance and business ethics as well as anyone involved in financial activities."--Jacket. (shrink)

With the internationalisation of the Chinese market, Confucian ethics began to draw researchers' attention. However, little research has been conducted in the specific application of Confucian ethics in marketing communication. This article fills in the research gap by examining how Confucian ethics underpins the discourse of Chinese Expo invitations. Chinese sales managers' views are incorporated into the analysis as substantiation of findings. Confucian ethics embraces both qing (emotion) and li (reason) and relevant ethical values such as guanxi (connections), qing, and (...) mianzi (face) play an important role for advertising Expos and trade fairs. The study also highlights the complexities of Chinese Expo advertising that is embedded in inviting behaviour. These findings shed light on understanding Confucian ethics in marketing communications in general and have implications for ethical international marketing and advertising practices. (shrink)

Community Development Finance Institutions (CDFIs) are publicly funded organisations that provide small loans to people in financially underserved areas of the UK. Policy makers have repeatedly sought to understand and measure the performance of CDFIs to ensure the efficient use of public funds, but have struggled to identify an appropriate way of doing so. In this article, we empirically derive a framework that measures the performance of CDFIs through an analysis of their stakeholder relationships. Based on qualitative data from (...) 20 English CDFIs, we develop a typology of CDFIs according to three dimensions: organisational structure, type of lending and type of market served. Following on from this, we derive several propositions that consider how these dimensions relate to the financial and social performance of CDFIs, and provide the basis for a performance measurement framework. (shrink)

Following the financial crisis and recent recession, the center of gravity of global economic growth and competitiveness is shifting toward emerging economies. As a leading and increasingly influential emerging economy, China is currently attracting the attention of academics, practitioners, and policy makers. There has been an increase in research interest in and publications on issues relating to China within high-quality international academic journals. We therefore organized a special issue conference in conjunction with the Journal of Business Ethics in Lhasa, (...) Tibet, on May 19–20, 2014, on Business Ethics in Greater China: Past, Present and Future. The papers for the special issue focused on the intersection of ethics and finance, and fit within one of the three themes: environment and sustainability, corporate social responsibility, and fraud. Within these themes, issues of intellectual capital protection, gender equality, political connections, regional development, investor protection, corporate stewardship, trust and corruption, and corporate transparency each play a significant role. In this paper, we survey these studies and the related literature to provide a comprehensive coverage of business ethics and finance issues that affect China. (shrink)

A growing public concern regarding ethical business conduct has stimulated marketing research in the ethics area. This study is the first empirical research to investigate the relationship between a code of ethics and sales force behavior. The findings present preliminary evidence that a well communicated code of ethics may be related to ethical sales force behavior. Furthermore, it appears that a sales force that is employed in such an environment can be profiled as being relatively high in job performance (...) and receiving equally high satisfaction from their positions. Suggestions are made for future research and recommendations are offered for marketing practitioners. (shrink)

The financial services sector has the potential to be an important driver for improved corporate social and environmental responsibility through its control over corporate financing. But, so far, only ad hoc policy initiatives have arisen in the European Union and other countries. Because the financial services sector is where wholesale decisions regarding future development, and thus pressures on the environment, arise, the reform of investment and banking services to promote long term investment and better consideration of environmental impacts may be (...) an effective way to promote sustainable development. Reforms such as corporate environmental reporting requirements and lender liability for borrowers’ environmental harm, are some of the ways by which an institutional framework for mobilising financial organizations as instruments of environmental regulation could be constructed. (shrink)

Members of the academic community, lawyers, government officials, and professionals in the accounting and financial services industries examine ethical issues ...

This article provides an in-depth analysis of a conversational exchange initiated by a customer’s price question in real-life business-to-business sales encounters. The analysis focusses on when the customer requests a price, what that implies as well as how the price discussion is conducted. Marketing literature usually considers product/service price to be an obstacle that the salesperson needs to overcome; we demonstrate that the price question is a positive signal for the salesperson. By requesting the price, the customer claims (...) sufficient understanding of the offer, recognition of the service value and a readiness to move to the next phase in the meeting. The salesperson initiates an insert expansion to tailor the price to her or his customer and then informs the price in an expanded clausal response to build customer value. The conversation analytic study was based on a dataset of 13 video-recorded B2B sales meetings in Finland. (shrink)

My title refers to a very modern problem, for what else is modernization than a process of rational differentiation of society in autonomous, mutually isolated sub-spheres, to the point where no one any longer knows what the unity of it all is? We differentiate, we specialize, we hyperspecialize, and then we get puzzled over the fragmentation we have produced around us, between ourselves and even within ourselves. Look at our own area. You cannot even specialize in practical ethics any more. (...) You have to limit your attention to medical ethics, for example, the ethics of engineering, or business ethics. And within business ethics, my own field of research, the homo universalis is also threatened with extinction. You can do marketing ethics, ethics of finance or computer ethics, until you finally become the typical ‘expert’: someone who knows almost everything about almost nothing.From the despair over hyper-differentiation, the call for integration arises: the call for meaning, for reconfiguration, for making sense of our world and our lives again, the call for reconnection with the great traditions of our culture, the call for community.If we read the great theorists of modernization — Weber, Durkheim, Parsons, Habermas, Münch — we learn that the quest for integration is in fact an equally important aspect of modernization as is differentiation. They are two sides of the same coin. In this sense, I think, the integrative endeavour of the EEN can still be considered a modern one.We are presently facing an escalation, or a climax, of modernity. We live in a state of hypermodernity, in which technological, economic and cultural forces dynamize our society on an unprecedented scale. We are really living high up on the dazzling slopes of the exponential growth curves that the Club of Rome predicted over 25 years ago. Everyone speaks of change. Everything is changing, and with institutionalized change, everything has become uncertain. Within uncertainty, however, social disintegration is lurking. Does not the structural uncertainty that we are introducing in our society bring us back to a state of nature, to a state outside the hypothetical social contract on which modern social communities are based? Is not the life of the individualized, flexible wanderers on the labour market again resembling the pledge of man which Hobbes described as ‘solitary, nasty and brutish’ . Has not the life of many in our society again become ‘very unsafe and very insecure, full of fears and continual dangers’, in the way that Locke depicted the state of nature .I understand business ethics as an integrative undertaking in our society, integrative in particular with respect to the economy and the realm of formal organization, integrative also at the interface between life-world and system, to use the terminology of Habermas.Integrative endeavours in our society have an ambiguous relation to change. Change is a key challenge to business ethics. Should we accept disruptive forms of change as inevitable, in order to remain on speaking terms with the economy and its spokesmen? Or should we fiercely resist certain changes? Is change on our side, perhaps? Business ethics is sometimes presented as a way to help managers cope with the many paradoxes of our time. One-dimensional technological rationality, we say, is no longer adequate to grasp the complexities, ambiguities and paradoxes of our world. Successful management requires more flexible, more creative forms of thinking. Philosophy and ethics are then presented as alternatives. But then aren’t we, the philosophers, simply promoting ourselves as the new masters of change for our time? Isn’t the so-called postmodern consciousness in fact an ideological underpinning of hyper differentiation, and in this sense the ultimate self-realization of the spirit of modernity? What sense of direction do we offer, as business ethicists?I would like to speak about the integration of micro, meso and macro-levels in business ethics, from the perspective of social change. My basic thesis is that only an adequate ethics of responsibility can integrate a highly differentiated and ultra-complex society like ours. This integration through responsibility opens up new directions of social change, that proceed simultaneously at the micro, meso and macro-level.In order not to complicate matters too much, I will limit myself to two dimensions of change which are important for business ethics at the moment: economic change ; organizational change . In relation to these changes, I will conclude with some reflections on changes in business ethics itself, the ones that I think are needed. (shrink)

Understanding differences in communication styles is becoming increasingly important in intercultural business communication as more and more countries are involved in doing business internationally and more and more people are doing business with mainland China. This article aims to compare the structural moves used in English and Chinese sales letters from social, intercultural and pragmatic perspectives. It has been argued that the study of text styles such as linearity and circularity in comparative rhetoric may not be sufficient (...) to reflect the overall features of the genres involved. Therefore a holistic approach based on genre study and schema theory has been employed to explore the communicative purposes and various levels of the text. Hall's high- and low-context cultures and cross-cultural pragmatics have also been incorporated to enrich the genre approach. A corpus of 40 sales letters was examined and it was found that Chinese sales letters share similar marketing strategies with English letters as the Chinese economy is becoming increasingly decentralized and privatized. Differences in communication patterns between these letters were identified, however, and shown to be largely due to a number of factors such as the specific values and beliefs of each culture and the different business practice in mainland China. (shrink)

Managers often ask why their firm should have an ethics program, especially if no one has complained about unethical behavior. The pursuit of business ethics can cost money, they say. It can lose sales to less scrupulous competitors and can drain management time and energy. But as Harvard business professor Francis Aguilar points out, ethics scandals (such as over Beech-Nut's erzatz "apple juice" or Sears's padded car repair bills) can severely damage a firm, with punishing legal penalties, bad (...) publicity, and irreparably injured customer relations. Equally important if less obvious, unethical behavior can undermine a firm's organizational spirit. On the other hand, Aguilar argues, in a well run firm, ethical programs can actually enhance corporate performance, strengthening the company at every level and supercharging employee risk taking and innovation. In Managing Corporate Ethics, Aguilar shows managers how to create ethical programs within their organizations that not only discourage large-scale wrongdoing, but can contribute substantially to the achievement of corporate excellence. Aguilar's program is down-to-earth and comprehensive, and based on his extensive research on highly successful, ethical companies, both large and small. He recommends action on three fronts: first, get senior management to provide effective ethical leadership; second, set up an ethics program that promotes concern for the interests of people affected by the firm's operations and that provides safeguards against corrupting business pressures; and third, staff the company with ethical people and surround the organization with ethical advisors (including legal, financial, accounting, tax, and marketing consultants). To illuminate this three-step program, Aguilar incorporates the lessons learned in his in-depth study of ten prominent firms with proven successful ethics programs--among them Hewlett-Packard, Johnson & Johnson, Nucor Steel, Cray Research, ServiceMaster, and Texas Instruments. He examines Lincoln Electric's attention to compensation and job security to ensure quality products and to reduce the pressure or temptation to act unethically. He shows how General Mills, while pushing product line managers to compete aggressively, uses corporate staff units to guard against illegal or unacceptable claims (testing cake recipes, for example, to see if a product's quality fails under the less-than-perfect conditions of a normal kitchen). And he details how Armstrong World Industries uses pep talks, inspirational stories, role models, and ready access to management to promote ethical standards among employees. Throughout, Aguilar demonstrates convincingly that an ethical program pays dividends: that employees, suppliers, customers, and the community at large know when they are being treated in a positive and constructive manner, and are likely to respond in kind. Packed with real life examples of successful (and failed) ethical programs, Managing Corporate Ethics is a valuable roadmap to an often overlooked source of business success. (shrink)

The shareholder wealth maximization objective for corporate management can be a very effective tool for decision making. However, it can also be used to rationalize the commission of unethical or socially irresponsible actions. Overemphasis on the SWM objective by some companies can lead to dangerous or disastrous consequences for consumers, employees, or the general population. Even so, issues of business ethics and social responsibility (BE-SR) are almost totally ignored in corporate finance textbooks. If the typical coverage of corporate (...) finance courses is represented by these textbooks, then financial educators are abdicating their responsibility to help prepare future corporate managers to recognize and deal with BE-SR issues effectively. (shrink)

Poverty observed from business in the academic field has evolved in some publications and is characterized as a multidimensional phenomenon, having several theoretical strands that add their attention to this problem. The objective of this study is to identify and cluster the variables of poverty in the business area through the network analysis. There were 1,745 keywords mentioned in 566 papers about the theme present in the Scopus database between 2000 and 2016. The results demonstrate a network with (...) four clusters: (a) Economy, government and people; (b) Community, institutions and market; (c) Business and environment; and (d) Social aspects and finance. From the network, it is possible to understand the most cited categories of variables (research methodology and business aspects), the most consolidated relations between categories of variables (poverty and economic aspects), the most studied area (Economy, government and people), and the gaps to be explored. (shrink)

Stakeholder theory is a significant development in the drive to provide a foundation for intuitions concerning the moral responsibility connected to corporate decision making. The move to include the interests of workers, consumers, the communities and biological environment in which the corporations instantiations are located run counter to the view in which shareholders’ interests are paramount. The non-sale of the Hershey Foods company to Wrigley1 was the ultimate result of a massive call by stakeholders to put other interests before shareholder (...) financial stakes, yet the discussion was notably not held in terms of stakeholder theory. Rather, the discussion was explicitly Aristotelian with opponents of the view arguing that the sale was improper because it ran counter to the essence or telos of the organisation. This case is no doubt unusual in that the founding documents of the organisation were appealed to in order to justify the claim that the essence of the corporation was to do more than enrich the shareholders. This paper intends to examine whether, in spite of this anomaly, the Hershey case has anything general to say about the foundations of corporate responsibility. (shrink)

As technology redefines relationships, new assumptions are emerging about the ethics of persuasion. In an increasingly global economy, technology is forcing greater transparency onto businesses and governments as the moral context of their communications is inseparable from the competitive nature of the business world. This article suggests that moral boundaries will be set naturally, that consumers have a moral obligation to excercise "due diligence" in their acceptance of messages, and that no one is in charge of the global (...) economy's conventions and morality. The system ultimately depends on participants to keep their own self-interested boat in the race. (shrink)

In the 21st century, the field of business and finance has become a media spectacle. Not only have advances in technology changed the ways in which audiences engage with business information, the pervasiveness of internet and cable television networks has led to the emergence of new hybrid forms of business news discourse, blending verbiage, images, graphics, audio, and video clips. Combining discourse analysis, social semiotic theory, and other interdisciplinary approaches, this article explores the multiple ways in (...) which business news are mediated on the internet by continuous 24-hour business news networks such as Bloomberg, CNBC, FOXBusiness, and Reuters. In particular, this article is concerned with how events are contextualized, that is, how identities and social relationships are constructed and represented within and across different modes, media, and networks. The analysis focuses on what is foregrounded or backgrounded, what is thematized or unthematized in each mode and medium, and what process types and categories are drawn upon to represent events, social actors, and social actions. In this context, special interest is being paid to the semiotic shifts or transformations that multimodal representations undergo across modes, media, and news networks. (shrink)

Information and communication technology has certain advantages that can contribute positively in business ethics education programmes. It is necessary, however, to identify first the factors critical for acquiring ethical competence and later to proceed to the construction and use of such tools, in order to ensure that these tools are indeed adapted to the process and the goals of business ethics education. Based on psychological theory and research, it is argued that one such crucial factor is the psychological (...) construct of ethical autonomy. The strengths and weaknesses of information and communication technology tools are discussed in accordance with this, and some suggestions are given on fruitful ways to incorporate these tools in business ethics education. (shrink)

Green New Deal policies are proposed to tackle the climate emergency. These policies focus on driving climate innovation through unprecedented financial policy levers. However, while the macro-level financing dynamics are clear, the influence of niche level dynamics of sustainable innovation financing remain unexplored within these policy settings. Through the context of the European Green Deal and a focus on the agri-tech start-up sector in the Netherlands, we identify factors likely to reduce the efficacy of these policies from an innovation management (...) perspective—such as project matching issues, socio-ethical factors or the characteristics of agri-food climate innovations. We go on to conceptualise that these challenges represent a range of asymmetries—from classic information asymmetries to less common value and objective asymmetries—between climate innovators and private investors and financers. Many remedies for asymmetries involve costs, likely to further inhibit the efficacy of the European Green Deal and similar policies. A partnering approach is proposed, where the non-financial resources of incumbent actors are harnessed and leveraged to enhance climate innovation performance. (shrink)

For the past five years at the Daniels College of Business at the University of Denver a community service or service learning component has been included in the Values in Action class (now Values-Based Leadership), a core MBA course that integrates ethics, law, and public policy perspectives on business issues. This paper summarizes the educational philosophy and the mechanics of this required component. Few empirical studies have been conducted to gauge the perceived value and impact of a service (...) learning requirement on students. Thus, several surveys were conducted to understand better the choices made by students as well as the impact of the requirement on students. Preliminary results reveal generally a positive effect on students, including some evidence that such a service learning requirement may influence students to make a greater lifetime commitment to community service. (shrink)