With assets of over US$1.0 trillion and growing, public pension funds in the United States have become a major force in the private sector through their holding of equity positions in large publicly traded corporations. More recently, these funds have been expanding their investment strategy by considering a corporation's long-term risks on issues such as environmental protection, sustainability, and good corporate citizenship, and how these factors impact a company's long-term performance. Conventional wisdom argues that the fiduciary responsibility of the pension (...) funds' trustees must be solely focused on their beneficiaries and, therefore, their investment criteria must be based strictly on narrowly defined financial measures. It is also asserted that well-established financial measurements of corporate performance already include long-term risk assessment through discounted present value of future flow of earnings. Consequently, all other criteria are contrary to the best interest of the pension funds' beneficiaries. In this paper, we assert that, contrary to conventional wisdom, pension funds, and for that matter other mutual funds, must be concerned with the long-term survival and growth of corporations. These measures are generally referred to "socially responsible investing" and when applied to corporations, it is termed "socially responsible corporate conduct." We demonstrate that current measurement of future risk assessment invariably understates, and quite often completely overlooks, these long-term risks because of the inherent bias towards short-run on the part of financial intermediaries whose compensation depends greatly on short-term results. Furthermore, there is ample evidence to suggest that these intermediaries have been engaging in self-serving practices and thus failing in their duties to serve their clients', i.e. pension funds', best interests. Because of their large holdings in the total market as well as individual companies, these funds cannot easily divest from poorly performing companies without destabilizing the companies' stock and overall markets. Hence, they must opt for a strategy of emphasizing investment criteria that encourage companies to take into account long-term aspects of their operations in terms of their impact on environment, sustainability, and community welfare, to name a few. We argue that an exclusionary, and even a primary, focus on short-term financial criteria is no longer a viable option. It also calls for the pension funds to encourage greater transparency and accountability of the entire corporate sector through improved corporate governance. Thus socially responsible investing practices are not merely discretionary and desirable activities; they are a necessary imperative, which both the corporations and public pension funds, and other large institutional holders, will ignore at serious peril to themselves. Finally, the paper considers some of the recent developments where corporations have been responding to these challenges and how their actions might be strengthened through greater disclosure and transparency of corporate activities. It also makes recommendations for the pension funds to support further research in creating new measurement standards that further refine the concept of socially responsible investing as a necessary ingredient of long-term corporate survival and growth in the context of a changing economic, environmental and socio-political dynamic. (shrink)

In the paper, I argue that the notion of sensory representation that Pautz defines (via the Ramsey method) has incompatible features. The notion is defined in terms of its ability to explain both the phenomenal character of experience and its ability to give us cognitive access to perceptible properties, all while being existence-neutral. I argue that there is strong reason to conclude that no worldly relation could play all three roles simultaneously.

The United Nations Global Compact (UNGC) was created in 2000 to leverage UN prestige and induce corporations to embrace 10 principles incorporating values of environmental sustainability, protection of human rights, fair treatment of workers, and elimination of bribery and corruption. We review and analyze the GC’s activities and impact in enhancing corporate social responsibility since inception. First, we propose an analytical framework which allows us to assess the qualities of the UNGC and its principles in the context of external and (...) internal elements that influence code effectiveness and implementation. Second, we analyze UNGC performance in encouraging companies to become signatory members and bring about demonstrable change in corporate CSR-sustainability activities. In its 10-year report, UNGC has proclaimed growth in both membership and program activity. However, all credible and publicly available data and documentation conclusively demonstrate that the UNGC has failed to induce its signatory companies to enhance their CSR efforts and integrate the 10 principles in their policies and operations. The result has been a loss of public trust and support of UNGC from important constituencies among civil society organizations, and those individuals and groups adversely impacted by corporate activities and resultant negative externalities. This diminished credibility has also made UNGC largely dependent on the corporate sector for its very survival. We conclude that this dependence has in turn impaired and would continue to hinder UNGC’s ability to fulfill its mission. Such an outcome raises serious questions as to the viability, usefulness, and continued existence of UNGC. (shrink)

The proposed study endeavors to delve into the philosophical concepts of self and identity as elucidated by the eminent Indian philosopher Rāmānujachārya. This critical examination aims to underscore Rāmānuja’s perspective on the self, surpassing the limitations inherent in both physical and mentalist accounts of human existence. The study specifically directs attention to queries surrounding self-ownership, the constancy of identity amidst change, consciousness, and its interconnection with the self. Unlike explanations that reduce the notion of self to either the body or (...) the mind, this study seeks to explicate Rāmānuja's accounts of self and identity by recognizing that merely equating the self with the body or mind fails to address the profound sense of ownership or possession we experience. In the vast landscape of Indian philosophical thought, the self is traditionally viewed as inherently eternal, temporarily associated with the body for the purpose of navigating accumulated karma across multiple lifetimes. However, this study diverges from moralistic and eschatological discussions, concentrating instead on the metaphysical aspects articulated by Rāmānuja. Central to Rāmānuja's philosophy is the juxtaposition of Brahman, the ultimate reality, with ātman, the individual self present in all living beings. Distinctions among beings are attributed to the nature of the bodies they inhabit. The crux of the matter lies in understanding the relationship between the individual self and Brahman, conceptualized as a part–whole relationship. Consequently, the inquiry emerges: How does the part relate to the whole? What is the nature of the self in the context of Brahman? This paper undertakes a dual-level philosophical analysis of the notion self. It explores the metaphysical level, seeking to comprehend the general meaning and significance of the self. Simultaneously, it delves into the contextual and particular dimensions, unraveling the specific conceptualizations that the individual self undergoes contingent upon its situations. Further questions pertaining to self and identity come to the forefront. How does the self relate to its identity—is it pre-given or constructed? Is there an intrinsic essence to the identity of the self? Addressing these questions inevitably draws attention to the intertwined issues of caste and gender within this philosophical discourse. (shrink)

Working with the assumption that properties depend for their instantiation on substances, I argue against a unitary analysis of instantiation. On the standard view, a property is instantiated just in case there is a substance that serves as the bearer of the property. But this view cannot make sense of how properties that are mind-dependent depend for their instantiation on minds. I consider two classes of properties that philosophers often take to be mind-dependent: sensible qualities like color and bodily sensations (...) like itches. Given that the mind is never itself literally red or itchy, we cannot explain the instantiation of these qualities as a matter of their having a mental bearer. Appealing to insights from Berkeley, I defend a view on which a property can be instantiated not in virtue of having a bearer—mental or material—but rather in virtue of being the object of a conscious act of perception. In the second half of the paper, I suggest that the best account of sensible qualities and bodily sensations ultimately makes use of both varieties of instantiation. (shrink)

This paper presents a synoptic overview of two key philosophical concepts – self and identity - in Indian tradition. Drawing on both Indian and Western studies on the concept of self-hood and its implications for conceptualising identity, the paper reviews the contemporary scholarship on self-hood and outlines its relation to identity needs to be rethought if ethical possibilities of self-hood are to be given due consideration. This paper asks and addresses the nature and experience of the self in the Indian (...) intellectual tradition, how representative Indian thinkers conceptualised the self, how such a conception of self-hood engages with the overall conception of Western history of self-hood and so on. The paper offers a comparative study of self-hood that not only underscores the significant points of convergence and divergence as theorised in Indian and Western philosophical traditions but also highlights how certain conceptions of self-hood and identity enable the project of the self’s ethical transformation. (shrink)

스페인 시인 씰로트의 상징사전을 토대로 국내외 문학작품을 예로 들어 주제별, 가나다순으로 수록한 문 학평론가의 상징사전.

I develop a view of perception that does justice to Price's intuition that all sensory experience acquaints us with sensible qualities like colour and shape. Contrary to the received opinion, I argue that we can respect this intuition while insisting that ordinary perception puts us in direct contact with the mind-independent world. In other words, Price's intuition is compatible with naïve realism. Both hallucinations and ordinary perceptions acquaint us with instances of the same kinds of sensible qualities. While the instances (...) in hallucination are mind-dependent, those in veridical perception are not. The latter are ontologically over-determined —they have their existence guaranteed both in virtue of having a material bearer and in virtue of being perceived by a mind. Such over-determined instances are mind-independent—they can continue to exist unperceived, because, in addition to the minds that perceive them, their existence is guaranteed by the material objects that are their bearers. (shrink)

I discuss three sets of worries concerning Watkins’ account of laws of nature in Kant on Laws. First, I argue contra Watkins that Kant’s laws of nature do not depend on acts of prescription in any literal sense. Second, I question how his generic conception of laws applies to empirical laws of nature and suggest that the worries about unknowability or contingency that he raises for contemporary alternatives may equally arise for empirical laws on Kant’s account. Finally, I discuss his (...) claim that Kant’s a priori laws depend on the immutability of human cognitive capacities and ask how this immutability should be understood. (shrink)

ABSTRACT On the traditional picture, accidents must inhere in substances in order to exist. Berkeley famously argues that a particular class of accidents—the sensible qualities—are mere ideas—entities that depend for their existence on minds. To defend this view, Berkeley provides us with an elegant alternative to the traditional framework: sensible qualities depend on a mind, not in virtue of inhering in it, but in virtue of being perceived by it. This metaphysical insight, once correctly understood, gives us the resources to (...) solve a central problem that still plagues the philosophy of perception—the problem of how, given the power of the mind to create phenomenally rich experiences, ordinary perception can nonetheless be said to acquaint us with the mind-independent world. (shrink)

Few of Kant’s distinctions have generated as much puzzlement and criticism as the one he draws in the Prolegomena between judgments of experience, which he describes as objectively and universally valid, and judgments of perception, which he says are merely subjectively valid. Yet the distinction between objective and subjective validity is central to Kant’s account of experience and plays a key role in his Transcendental Deduction of the categories. In this paper, I reject a standard interpretation of the distinction, according (...) to which judgments of perception are merely subjectively valid because they are made without sufficient investigation. In its place, I argue that for Kant, judgments of perception are merely subjectively valid because they merely report sequences of perceptions had by a subject without claiming that what is represented by the perceptions is connected in the objects the perceptions are of. Whereas the interpretation I criticize undercuts Kant’s strategy in the Deduction, I argue, my interpretation illuminates it. (shrink)

The interface between mental health services and the criminal justice system presents challenges both for professionals and patients. Both systems are stressed and inherently complex. Section 136 of the Mental Health Act is unusual being both an aspect of the Mental Health Act and a power of arrest. It has a long and controversial history related to concerns about who has been detained and how the section was applied. More recently, Section 136 has had a public profile stemming from the (...) use of police cells as places of safety for young, mentally disturbed individuals. This paper explores the current state of health of this piece of legislation. Specifically, we consider whether alternative approaches are more suitable for those individuals in crisis and/or distress who come into contact with the police. This requires careful thought as to the proper role of both health and criminal justice professionals who are daily grappling with an ethically contentious domain of multiagency work. (shrink)

>With assets of over US$1.0 trillion and growing, public pension funds in the United States have become a major force in the private sector through their holding of equity positions in large publicly traded corporations. More recently, these funds have been expanding their investment strategy by considering a corporations long-term risks on issues such as environmental protection, sustainability, and good corporate citizenship, and how these factors impact a companys long-term performance. Conventional wisdom argues that the fiduciary responsibility of the pension (...) funds trustees must be solely focused on their beneficiaries and, therefore, their investment criteria must be based strictly on narrowly defined financial measures. It is also asserted that well-established financial measurements of corporate performance already include long-term risk assessment through discounted present value of future flow of earnings. Consequently, all other criteria are contrary to the best interest of the pension funds beneficiaries. In this paper, we assert that, contrary to conventional wisdom, pension funds, and for that matter other mutual funds, must be concerned with the long-term survival and growth of corporations. These measures are generally referred to socially responsible investing (SRI) and when applied to corporations, it is termed socially responsible corporate conduct (SRCC). We demonstrate that current measurement of future risk assessment invariably understates, and quite often completely overlooks, these long-term risks because of the inherent bias towards short-run on the part of financial intermediaries whose compensation depends greatly on short-term results. Furthermore, there is ample evidence to suggest that these intermediaries have been engaging in self-serving practices and thus failing in their duties to serve their clients, i.e. pension funds, best interests. Because of their large holdings in the total market as well as individual companies, these funds cannot easily divest from poorly performing companies without destabilizing the companies stock and overall markets. Hence, they must opt for a strategy of emphasizing investment criteria that encourage companies to take into account long-term aspects of their operations in terms of their impact on environment, sustainability, and community welfare, to name a few. We argue that an exclusionary, and even a primary, focus on short-term financial criteria is no longer a viable option. It also calls for the pension funds to encourage greater transparency and accountability of the entire corporate sector through improved corporate governance. Thus socially responsible investing practices are not merely discretionary and desirable activities; they are a necessary imperative, which both the corporations and public pension funds, and other large institutional holders, will ignore at serious peril to themselves. Finally, the paper considers some of the recent developments where corporations have been responding to these challenges and how their actions might be strengthened through greater disclosure and transparency of corporate activities. It also makes recommendations for the pension funds to support further research in creating new measurement standards that further refine the concept of socially responsible investing as a necessary ingredient of long-term corporate survival and growth in the context of a changing economic, environmental and socio-political dynamic. (shrink)

In this paper, I propose a solution to a notorious puzzle that lies at the heart of Kant’s Critique of Judgment. The puzzle arises because Kant asserts two apparently conflicting claims: (1) F→J: A judgment of beauty is aesthetic, i.e., grounded in feeling. (2) J→F: A judgment of beauty could not be based on and must ground the feeling of pleasure in the beautiful. I argue that (1) and (2) are consistent. Kant’s text indicates that he distinguishes two feelings: the (...) feeling of the harmony of the cognitive faculties that is the ground of judgments of beauty (F1 → J), and the feeling of pleasure that is its consequence (J → F2). I develop and defend a view of Kant’s account of the structure of judgments of beauty that incorporates this crucial distinction. Next, I argue that my view resolves another long-standing problem for Kant’s “Deduction” of judgments of beauty: it allows him to claim that the harmony of the faculties is a condition of judgment in general without implying, absurdly, that all judgments are pleasurable. (shrink)

Large corporations are coming under intense pressure to act in a socially responsible manner. Corporations have accepted this notion provided that it is exercised voluntarily. It has also been argued that corporations can do well by doing good, and that good ethics is good business. This paper presents an alternative viewpoint by demonstrating that while voluntary socially responsible conduct is desirable, it plays a rather small role in inspiring good corporate conduct. Instead, (a) it is the external economic-competitive conditions that (...) define the parameters and opportunities for good corporate conduct; and (b) the values and traditions of the corporations, and their perceived risk in exploiting those opportunities, that influence the extent of a corporation's socially responsible conduct. The framework presented here analyzes certain market-competitive conditions, which determine the scope and direction of socially responsible corporate conduct, and the instruments available to society to enhance ethical corporate conduct. It suggests that from society's perspective, we should move away from the notion of corporate social responsibility and toward corporate social accountability. Most modern economies operate under conditions of imperfect competition where corporations gain above-normal profits, i.e., market rent, from market imperfections. Therefore, corporations should be held accountable for a more equitable distribution of these above-normal profits with other groups, e.g., customers, employees, etc., who were deprived of their market-based gains because of market imperfections and corporate power. Three approaches are suggested for measuring corporate accountability through corrections. These are: information imbalance, bargaining power imbalance, and, adjudication, remedy and relief imbalance. (shrink)

Kant is said to be the first to distinguish between consciousness of oneself as the subject of one’s experiences and consciousness of oneself as an object, which he calls transcendental and empirical apperception, respectively. Of these, it is empirical apperception that is meant to enable consciousness of any empirical features of oneself; what this amounts to, however, continues to puzzle interpreters. I argue that a key to understanding what empirical apperception consists in is Kant’s claim that each type of apperception (...) corresponds to a distinct type of unity of apperception—that is, a distinct way in which representations can be related for a subject. Whereas transcendental unity of apperception requires that representations be actively combined by the understanding, empirical unity of apperception obtains when representations are passively combined by the reproductive imagination. In light of this, I develop a novel account of Kant’s two types of apperception, according to which they correspond to a cognitive subject’s consciousness of two essential aspects of herself—namely, her spontaneity and receptivity. (shrink)

A common reading of Kant’s notion of synthesis takes it to be carried out by the imagination in a manner guided by the concepts of the understanding. I point to a significant problem for this reading: it is the reproductive imagination that carries out the syntheses of apprehension and reproduction, and Kant claims repeatedly that the reproductive imagination is governed solely by its own laws of association. In light of this, I argue for a different division of the labor of (...) synthesis between the imagination and the understanding. On my view, while the reproductive imagination puts representations together in accordance with laws of association, the understanding recognizes these combinations of representations as necessary in virtue of corresponding to a connection in the objects represented. I conclude by suggesting that a virtue of my account is that it can make sense of Kant’s claim that the relational categories are merely regulative for intuitions. (shrink)

This study investigates the variations in the quality and comprehensiveness of 104 corporate social responsibility reports published by the world’s largest financial institutions in 2012. Using a novel measure of CSR report quality, we examine the impact of certain national, legal, and firm-level factors that might explain differences in the overall quality and extent of coverage of various issues in these reports. Our findings show that legal factors and CSR environment in a firm’s country of headquarters play an important role (...) in firms’ CSR reporting quality. Common law countries exhibit systematically higher overall CSR reporting quality than code law countries. Countries with higher CSR standards, policies, and regulations in place also produce significantly higher quality CSR reports. Firm size, on the other hand, has no major impact on the overall quality of CSR reports. In further analysis of the individual aspects of CSR disclosures, namely environment, philanthropy, bribery and corruption, and integrity assurance, we document that larger firms report at a higher quality on philanthropy and bribery and corruption. Bribery and corruption is reported at a higher quality in countries with common law tradition, high-quality legal regimes, and high CSR standards and regulations in place. We also observe higher quality integrity assurance in common law countries. CSR-minded countries and countries with low-quality legal environment also report on philanthropy at a higher quality. Finally, we offer guidelines for companies toward improving the quality of their reports, and suggestions for scholars and researchers for further avenues of research. (shrink)

Corporate Social Responsibility reporting by large corporations has witnessed phenomenal growth over the last two decades. The voluntary nature of these disclosures, however, has led to inconsistencies in reporting formats, treatment, and inclusion of various contextual elements, and a lack of robust measures pertaining to the quality and accuracy of the reports’ content. Efforts to address these drawbacks such as Global Reporting Initiative and ISO 26000 have proven unsatisfactory due to their primary emphasis on process for creating CSR reports without (...) similar attention on measurement criteria to ensure robust implementation, or verify accuracy of information. This paper attempts to fill this gap in the literature. It uses a new framework—called the CSR-Sustainability Monitor®—of analyzing and evaluating the contents of CSR reports in a manner that allows for a single report to be compared with any other single group, and groups of reports based on industry, country-of-origin, and similar other groupings. Using data from the CSR reports of 614 large corporations worldwide, this study analyzes the character and scope of integrity assurance contained in these CSR reports. The analysis is further extended to explore some external factors that would explain variations in the assurance decision and the quality of integrity assurance in these reports. (shrink)

Over the last 20+ years, multinational corporations have been confronted with accusations of abuse of market power and unfair and unethical business conduct especially as it relates to their overseas operations and supply chain management. These accusations include, among others, worker exploitation in terms of unfairly low wages, excessive work hours, and unsafe work environment; pollution and contamination of air, ground water and land resources; and, undermining the ability of natural government to protect the well-being of their citizens. MNCs have (...) responded to these accusations by creating voluntary codes of conduct which commit them to specific standards for addressing these issues. These codes are created at both the industry-wide and the individual company level. Unfortunately, these codes have generated little credibility and public trust because their compliance claims cannot be independently verified, and they lack transparency and full public disclosure. In this article, we present a case study of the voluntary code of conduct by Mattel, Inc., the world’s largest toy company. The code, called the Global Manufacturing Principles, confronts the general criticism leveled against voluntary codes of conduct by creating detailed standards of compliance, independent external monitoring of the company’s compliance with its code of conduct, and making full, and uncensored public disclosure of the audit findings and company’s response in terms of remedial action. We present a detailed account of how Mattel’s voluntary code of conduct was created, implemented, and ultimately abandoned over 9 years. We provide an evaluative analysis of the company’s GMP compliance throughout its life span, which suggests a bell-shaped curve, where early top management commitments were met with pockets of resistance from operational groups, who were concerned about balancing GMP compliance efforts with traditional performance criteria. The early stage response from Mattel’s top management was quick and supported with the requisite resources. As a result, the compliance process accelerated, becoming increasingly more robust and effective. The success of code compliance and increased transparency in public disclosure energized field managers with a sense of professional satisfaction and publicly recognized accomplishments. The decline in GMP compliance was equally steep. When all the easily attainable targets had been reached at the company-operated plants, addressing vendor plants’ compliance presented a new set of challenges, which taxed corporate resources and management commitment. It would seem that value-based and ethics-oriented considerations, i.e., doing the right thing for the right reason, were no longer the driving force for Mattel’s management. Mattel did not see any economic benefit from its proactive stance, when competitors did not seem to suffer adverse consequences for not following suit. The final contributing factor to the code’s abandonment was a widely publicized series of product recalls which absorbed top management’s attention. (shrink)

Kant’s notion of common sense (Gemeinsinn) is crucial not only for his account of judgements of beauty, but also for the link he draws between the necessary conditions of such judgements and cognition in general. Contrary to existing interpretations which connect common sense to pleasure, I argue that it should be understood as the capacity to sense the harmony of the cognitive faculties through a sui generis sensation distinct from pleasure. This sensed harmony of the faculties is not only the (...) ground of judgements of beauty and the basis of pleasure in the beautiful, but is also essential, I argue, for the reflecting judgements through which we acquire empirical concepts. (shrink)

Buddhists endorse the concept of human actions and their consequences as they uphold the doctrine of karma. However, they deny the existence of a ‘permanent self’. Few questions arise in this regard. If a permanent self does not exist then who guides a person to decide the course of an action? How does a person choose to perform an action of the many alternatives in a situation? Who takes responsibility for the consequences of an action? This paper attempts to answer (...) these questions by reinterpreting the Buddhist’s ‘no-self’ theory from epistemological and logical perspectives. This paper argues that Buddhists while rejecting the existence of a ‘permanent self’ affirm the existence of impermanent psychophysical entities (five skandhas). The mereological sum of these psychophysical entities is known as a ‘person’ who performs actions. A person becomes morally responsible for the consequences of an action justifying the Buddhist doctrine of karma. (shrink)

In the higher education settings, the following questions are discussed and debated in modern times. Is ‘teaching’ a profession? Are university faculty members professionals? The paper attempts to answer these questions by adopting qualitative methodology that subsumes descriptive, evaluative, and interpretative approaches. While answering these questions, it discusses significance and usefulness of academic ethics in the university set up. It examines role of academic ethics to offer quality education to students. Further, it highlights university faculty members’ roles and responsibilities toward (...) students, colleagues, institution authorities, research works, and society at large. The paper submits that teaching in university settings is regarded as a profession, and university faculty members are regarded as professionals provided they perform their duties conforming to the teacher’s code of ethics. (shrink)