We study behind-the-scenes investor activism promoting environmental, social, and governance improvements by means of a proprietary dataset of a large international, socially responsible activist fund. We examine the activist’s target selection, forms of engagement, impact on ESG performance, drivers of success, and effects on the targets’ operations and value creation. Target firms are typically large and visible, perform well, and have high liquidity and low ESG performance. Engagement induces ESG rating adjustments: firms with poor ex ante ESG ratings experience a (...) ratings increase after complying with the activist’s demands, whereas firms with high ex ante ESG ratings experience a ratings decrease following the revelation of their ESG problems. Activism that is focused on environmental and social issues is more likely to succeed if targets are ESG-sensitive. Successful engagements boost targets’ sales. Risk-adjusted excess stock returns of successful engagements outperform those of unsuccessful engagements by 2.7%. Results are especially strong for firms with low ex ante ESG scores. Specifically, targeted firms in the lowest ex ante ESG quartile outperform matched peers by 7.5% in the year after the end of the engagement. Our results thus suggest that the activism regarding corporate social responsibility generally improves ESG practices and corporate sales and is profitable to the activist. Taken together, we provide direct evidence that ethical investing and strong financial performance, both from the activist’s and the targeted firm’s perspective, can go hand-in-hand together. (shrink)

Gyorgy Tamas works in the philosophy of logic, that difficult interdisciplin ary region wherein the notion of categories is both basic and subtle. To understand ways of thinking, to understand patterns of whatever is real, to recognize what is possible and to reject the nonsensical and the impossible is to comprehend the categories. This was a in thought and in fact, recurring motive of European thought from the earliest self-aware beginnings, and Tamas knows that history well, as his critical respect (...) demonstrates. Ancient, medieval, and modern thinkers appear in this book, set forth in their own words; and likewise we see that Tamas has built upon the historians and commentators, upon the pioneering historical investigation of the categories by Trendelenburg a century ago and by Bochenski in our days. Tamas has two principal goals here: to investigate the logic, which is to say the structure and the relations, of the philosophical categories; and to set forth the logic of thought which may then be based upon the critically established system of categories obtained by that investigation. Ancillary but of striking value is his style of historical relevance which enables the reader to engage in a discussion that is both analytically sharp and developmentally insightful. Furthermore, Tamas draws upon his contem porary colleagues with similar critical respect: Lukasiewicz, Quine, Patzig, Menne, Tavanets and others. (shrink)

An evolutionary theory of socialization suggests that children from father-absent families will mature earlier, and form less-stable pair bonds, compared with those from father-present families. Using a sample of about 1,000 persons the recent study focuses on elements of father-absent children’s behavior that could be better explained by a Darwinian approach than by rival social science theories. As a result of their enhanced interest in male competition, father-absent boys were found to engage in rule-breaking behavior more intensively than father-present boys. (...) Compared with father-present children, adolescents from widowed households (both boys and girls) showed a higher intensity of various kinds of noncompliant behavior, which can be linked to their earlier maturation. School attendance, age at marriage, and marital success proved to be influenced by the children’s early family experiences, governed by adapted evolutionary strategies. Father-absent daughters conceived more children than those whose fathers were present during their childhood. As evolutionary theory predicts, reproductive behavior of individuals from divorced households differed from that of individuals who grew up in widowed households. Finally, the strong correlation found between spontaneous abortion/stillbirths and family arrangement indicates that father absence has certain direct impacts on the neurohormonal processes of child development. (shrink)

J.C. Nyíri’s work is well-known for his interpretation of Wittgenstein as a conservative thinker. Nevertheless, his reading of Wittgenstein is only one strand, even if presumably the most influential one, in his general interpretation of Austro-Hungarian philosophy. Therefore his reading of Wittgenstein is best understood if viewed as part of a complex, sociologically inspired picture of Austrian philosophy. In this introductory essay I present Nyíri’s work as an exercise in the sociology of philosophical knowledge, broadly understood, and provide a unified (...) view on his attempt by exploring its various strands. (shrink)

The book contains twelve essays by Stephen Holmes, Frances M. Kamm, Mária Ludassy, Steven Lukes, Gyorgy Markus, András Sajó, Gáspár Miklós Tamás, Andrew Arato, Timothy Garton Ash, Béla Greskovits, Will Kymlicka, and Aleksander Smolar. The studies explore a wide scope of subjects that belong to disciplines ranging from moral philosophy, through theory of human rights, democratic transition, constitutionalism, to political economy. The common denominator of the studies collected is their reference to the scholarly output of János Kis, in honor of (...) his sixtieth birthday. János Kis is a distinguished political philosopher who, after many years spent as a dissident under the Communist regime, emerged as an important political figure in Hungary's transition to democracy. Currently he is University Professor of Philosophy at Central European University, Budapest. (shrink)

_Essays on Wittgenstein and Austrian Philosophy_ is presented for the 60th birthday of professor Christoph Nyíri. The essays presented here for the first time are focused on Austrian intellectual history, and on Wittgenstein’s philosophy – the two main areas of Professor Nyíri’s interests. Typically, the contributors are outstanding scholars of the field, including among others David Bloor, Lee Congdon, Newton Garver, Wilhelm Lütterfields, Joachim Schulte, Barry Smith. The volume is of primary interest for Wittgenstein scholars and those studying the 19th (...) and 20th century Austrian intellectual history. As the volume is presented for Professor Nyíri, the papers collected here reflect his interests in Wittgenstein and Austrian philosophy. Beginning with an introductory chapter on Nyiri’s achievements in this field of scholarship, the volume is in four parts. The first part contains essays on Austrian philosophy broadly understood, more precisely on its socio-historical context (Barry Smith and Wolfgang Grassl), on the relation between Marxism and Arnold Hauser’s philosophy and sociology of art (Lee Congdon), and Neurath’s connection to naturalistic epistemologies (Thomas Uebel). The second part presents Wittgenstein's philosophy in context. Jaakko Hintikka’s paper argues that Wittgenstein’s probable dyslexia can be seen as an external influence on and a source of his philosophy. David Bloor discusses Wittgenstein’s philosophy in the context of Edmund Burke’s conservatism, which can be read as a background of Nyiri’s influential interpretation of Wittgenstein as a conservative philosopher. Newton Garver also touches on the problem of conservatism while discussing passages of _On Certainty_ in the context of Kant, Moore, and T.S. Eliot. Klaus Puhl’s essay connects Wittgenstein’s remarks on rule-following to Freud’s concept of retroactivity, and argues that rules emerging from empirical regularities can be seen as retroactive constructions. The papers in the third part of the volume offer close readings of Wittgenstein’s works. Rudolf Lüthe offers two readings of Wittgenstein’s criticism of philosophy in the _Tractatus_ can be read in two ways with different consequences, among them is the appearance of philosophy inspired by art rather than the sciences. Joachim Schulte offers an interpretation of Wittgenstein’s use of ’natural history’ that can accommodate all of his remarks containing this concept. Herbert Hrachovec discusses the relation of pictorial and linguistic representations in Wittgenstein’s _Nachlass, _arguing that there is no pronounced opposition between the two. The forth part of the book, containing three papers in German, continues the close inspection of Wittgenstein’s later works. Wilhelm Lütterfelds reconstructs Wittgenstein’s philosophy of time as pointing out memory being the very source of time. Katalin Neumer inspects Wittgenstein’s frequent references to photographs in the context of aspect-seeing and compares them with other remarks on theatre, painting, and music. She concludes that there are no philosophically important structural differences between them. Peter Keicher’s paper offers a comprehensive view on Wittgenstein’s prefaces in the context of his various book-projects. The volume ends with a select bibliography of Professor Nyiri’s works. (shrink)

Unethical behavior in organizations has garnered more and more attention in the last decades but most of the scholarly work has used a static approach relying on methodological individualism and a mechanistic worldview when studying this topic. The process of moral disengagement and organizational culture have been linked to the prevalence of unethical behavior earlier, but this paper uses a complexity-informed systems perspective to explore the dynamic relationship of these concepts and aims to improve our understanding of the often unnoticeable, (...) step-by-step process through which organizational cultures can become conducive to unethical behavior. Organizations are conceptualized as complex adaptive systems in which transformative and stabilizing processes based on feedback loops take place continuously. It is discussed how these processes can lead to a phase transition driving organizations towards a state where unethical behavior is the general norm. The process is illustrated through real-life examples. (shrink)

What are mental states? When we talk about people’s beliefs or desires, are we talking about what is happening inside their heads? If so, might cognitive science show that we are wrong? Might it turn out that mental states do not exist? Mental fictionalism offers a new approach to these longstanding questions about the mind. Its core idea is that mental states are useful fictions. When we talk about mental states, we are not formulating hypotheses about people’s inner machinery. Instead, (...) we simply talk "as if" people had certain inner states, such as beliefs or desires, in order to make sense of their behaviour. This is the first book dedicated to exploring mental fictionalism. Featuring contributions from established authors as well as up-and-coming scholars in this burgeoning field, the book reveals the exciting potential of a fictionalist approach to the mind, as well as the challenges it faces. In doing so, it offers a fresh perspective on foundational debates in the philosophy of mind, such as the nature of mental states and folk psychology, as well as hot topics in the field, such as embodied cognition and mental representation. Mental Fictionalism: Philosophical Explorations essential reading for advanced undergraduates, postgraduates and professionals alike. (shrink)

The Hungarian health care system is scheduled to undergo dramatic structural changes, emphasizing preventive medicine, health education, and competition among providers. Keywords: cost control, health care reform, health education, Hungary, market system, preventive medicine CiteULike Connotea Del.icio.us What's this?

The input data to grammar learning algorithms often consist of overt forms that do not contain full structural descriptions. This lack of information may contribute to the failure of learning. Past work on Optimality Theory introduced Robust Interpretive Parsing (RIP) as a partial solution to this problem. We generalize RIP and suggest replacing the winner candidate with a weighted mean violation of the potential winner candidates. A Boltzmann distribution is introduced on the winner set, and the distribution’s parameter $T$ is (...) gradually decreased. Finally, we show that GRIP, the Generalized Robust Interpretive Parsing Algorithm significantly improves the learning success rate in a model with standard constraints for metrical stress assignment. (shrink)

The paper contrasts Robert Brandom’s account of rationality with that of Daniel Dennett. It argues that neither of them is tenable, and sketches an alternative outlook that avoids the problems. In spite of their fundamental differences, both Brandom and Dennett employ a robust, i.e. explanatory and predictive notion of rationality, and for different reasons they both fail to offer a plausible theory supporting it. The lesson offered here is that rationality should not be treated alongside other norms prescribing behaviour, as (...) it cannot be accounted for in the same terms. Instead of ascribing rationality a robust role in a philosophical understanding of behaviour, it should be assigned a more modest one: its function should be located not in the context of explaining and predicting behaviour, but in the context of narratives folk psychological interpretation offers. (shrink)

For Jerry Fodor, Hume’sTreatise of Human Natureis “the foundational document of cognitive science” whose significance transcends mere historical interest: it is a source of theoretical inspiration in cognitive psychology. Here I am going to argue that those reading Hume along Fodor’s lines rely on a problematic, albeit inspiring, construction of Hume’s science of mind. My strategy in this paper is to contrast Fodor’s understanding of the Humean mind (consonant with the widely received view of Hume in both cognitive science and (...) much of Hume scholarship) with an alternative understanding that I propose. I thereby intend to show that the received view of Hume’s science of mind can be fruitfully revised while critically engaging with Fodor’s contemporary appropriation. Consequently, I use this occasion to put forward a rather unorthodox interpretation of Hume’s theory in dialogue with Fodor as my guide. (shrink)

Chromatic induction is a major contextual effect of color appearance. Patterned backgrounds are known to induce strong chromatic induction effects. However, it has not been clarified whether the spatial extent of the chromatic surrounding induces a chromatic contrast or assimilation effects. In this study, we examined the influence of the width of a center line and its flanking white contour on the color appearance when the line was surrounded by chromatic backgrounds. A strong color shift was observed when the center (...) line was flanked by white contours with the L/M- and S-cone chromatic backgrounds. There was a difference between the optimal widths of the center line and the contour for the shift in color appearance for the L/M-cone chromaticity and the S-cone chromaticity. The optimal width of the center line for the L/M-cone was finer than the resolution-limit width of the chromatic contrast sensitivity and coarser than that of the luminance contrast sensitivity. Thus, the color appearance of the center line could be obtained by integrating broad chromatic information and fine luminance details. Due to blurring and chromatic aberrations, the simulated artifact was large for the darker center line and S-cone background, thus suggesting that the artifact could explain the luminance dependency of the induction along the S-cone chromaticity. Moreover, the findings of this study reveal that the dominant factor of the color shift is neural instead of optical. (shrink)

Wish-fulfilment as a singular means of satisfying ineluctable desire is a pivotal concept in classical psychoanalysis. Freud argued that it was the thread that united dreams, daydreams, phantasy, omnipotent thinking, neurotic and some psychotic symptoms such as hallucinations and delusions, art, myth, and religious illusions. The concept's theoretical exploration has been largely neglected within psychoanalysis since, but contemporary philosophers have recognised it as providing an explanatory model for much of the kind of irrational behaviour so problematic for psychiatry, social psychology (...) and the philosophy of mind. Although critically neglected in contemporary psychological and psychoanalytic thought, the concept remains clinically fundamental, under different labels: it encompasses the processes of omnipotent phantasy, symbolic or substitutive satisfaction, actualisation in transference and acting out, symptom formation and defenses such as projective identification. Wish-fulfilment can be shown to be a specifically psychoanalytic compartment of a common-sense psychological theory of action that illuminates not just clinical material but also the paradoxes of irrationality – such as weakness of will and self-deception – that preoccupy philosophers. The first half of this book develops a comprehensive and novel theory of wish-fulfilment, explores its radical implications for the structure of mind, and locates it against the backdrop of both contemporary psychoanalytic and philosophical thought. In the second half, the book applies the theory to illuminate important features of self-deception and delusion, religion, insanity defences, creative writing and the exclusion of mind and intention in the biological drift of modern psychiatry. The book will be essential to philosophers of mind, psychoanalysts, psychiatrists, psychologists, social theorists, and students in these disciplines; as well as readers interested in understanding how the mind works in mental illness, self-deception, religion, and creative writing. (shrink)

In this article I attempt to reconstruct David Hume's use of the label ?experimental? to characterise his method in the Treatise. Although its meaning may strike the present-day reader as unusual, such a reconstruction is possible from the background of eighteenth-century practices and concepts of natural inquiry. As I argue, Hume's inquiries into human nature are experimental not primarily because of the way the empirical data he uses are produced, but because of the way those data are theoretically processed. He (...) seems to follow a method of analysis and synthesis quite similar to the one advertised in Newton's Opticks, which profoundly influenced eighteenth-century natural and moral philosophy. This method brings him much closer to the methods of qualitative, chemical investigations than to mechanical approaches to both nature and human nature. (shrink)

It is essential for social robots to fit in the human society. In order to facilitate this process we propose to use the family dog’s social behaviour shown towards humans as an inspiration. In this study we explored dogs’ low level social monitoring in dog-human interactions and extracted individually consistent and context dependent behaviours in simple everyday social scenarios. We found that proximity seeking and tail wagging were most individually distinctive in dogs, while activity, orientation towards the owner, and exploration (...) were dependent on the context and/or the activity of the owner. The functional analogues of these dog behaviours can be implemented in social robots of different embodiments in order to make them acceptable and more believable for humans. Keywords: dog-owner interaction; social robotics; low-level social monitoring; greeting behaviour; individually distinctive behaviours. (shrink)