We examine the occurrence of ethicsrelated terms in 10-K annual reports over 1994-2006 and offer empirical observations on the conceptual framework of Erhard et al. 2007). We use a pre-Sarbanes-Oxley sample subset to compare the occurrence of ethics-related terms in our 10-K data with samples from other studies that consider virtue-related phenomena. We find that firms using ethics-related terms are more likely to be "sin" stocks, are more likely to be the object of class action lawsuits, and are more likely (...) to score poorly on measures of corporate governance. The consistency of our results across these alternative measures of ethical behavior suggests that managers who portray their firm as "ethical" in 10-K reports are more likely to be systematically misleading the public. These results are consistent with the integrity-performance paradox. (shrink)

Over the past decade, corporate scandals have proliferated. These scandals, along with the emergence of the #MeToo movement and Environmental, Social, and Corporate Governance (ESG) mandates, have increased the scrutiny of corporations’ ethics culture. How have companies responded in terms of the language appearing in their public ethics documents? We compare the Code of Ethics in 2008 versus 2019 for a sample of S&P 500 firms. For the vast majority of firms, their Code of Ethics lengthened, with the average 2019 (...) code having 29% more words (about 1760 words) than the 2008 average. The language of the codes has also changed. Words such as _bribery, corruption, sustainability, speak up, bullying, slavery,_ and _human rights_ all saw significantly higher usage in the later period. We review possible reasons for the dramatic changes and suggest what questions remain about the motivations behind them. Whether the changes we observe are primarily intrinsically motivated or simply market responses to public pressures is yet to be determined. What is clear from our findings is that society seems to be entering a new age of increasingly moral—or, at least, moralized—corporate governance. (shrink)

We create a database of company codes of ethics from firms listed on the Standard & Poor's 500 Index and, separately, a sample of small firms. The SEC believes that "ethics codes do, and should, vary from company to company." Using textual analysis techniques, we measure the extent of commonality across the documents. We find substantial levels of common sentences used by the firms, including a few cases where the codes of ethics are essentially identical. We consider these results in (...) the context of legal statements versus value statements. While legal writing often mandates duplication, we argue that value-based statements should be held to a higher standard of originality. Our evidence is consistent with isomorphic pressures on smaller firms to conform. (shrink)

A mutual fund family incubates a fund when it creates a privately subsidized fund not available to the general investing public. It destroys unsuccessful incubator funds. The few successful funds will report higher incubation returns than the market return in advertisements intended to attract money from individual investors. This practice is currently allowed by the SEC. The evidence is that incubation returns are not a good predictor of subsequent fund performance and likely serve to mislead unsuspecting investors.

Trust is both ethically important and essential for business but difficult to measure. This paper contributes toward clarifying the nature of trust in a way that is both conceptually helpful for ethical inquiries concerning business and pertinent to the measurement of trust as an element in organizations. Several papers hypothesize that increasing the role of trust in a corporation reduces the need for external monitoring and contracts. Assessing this important hypothesis requires a way to gauge whether a firm has a (...) trusting corporate culture. We develop an objective measure of trust in a firm’s corporate culture by counting the number of times 21 trust-related words appear in an important kind of document: the Management Discussion and Analysis section of the annual report. We report two significant findings: that, contrary to what one might think, firms with a trusting culture frequently use audit and control-type words and that trust is positively linked with subsequent share price volatility. We propose explanations of these findings with the hope of facilitating the objective measurement of trust and enhancement of a trusting atmosphere in corporate culture. (shrink)

On December 9, 1999, VA Linux issued shares to the public and left over $900 million on the table for investors. In the prospectus, the investment banker Credit Suisse First Boston (CSFB) stated it would receive a 7% gross spread as its compensation for underwriting the shares. Yet the SEC alleges some investors paid enormous commissions to CSFB in the form of a kick-back immediately after obtaining the IPO shares. Hence, CSFB had an economic interest in the IPO and there (...) was not a full distribution of shares. This apparent violation of NASD Rule 2110 raises questions as to the credibility of the financial markets. (shrink)

The presumption is that a broker executing a stock trade for a retail investor will get the investor the best possible price execution for the transaction. In fact, the broker often sells the retail investor’s trade to an intermediary for cash payment. The broker’s motivation to generate dealer profits seems to overcome the broker’s fiduciary responsibility to obtain the best execution price for the customer, raising ethical questions. Purchasers and internalizers of order flow in the market may cause prices quoted (...) on the NYSE to deteriorate, making all investors worse off. (shrink)

A mutual fund family incubates a fund when it creates a privately subsidized fund not available to the general investing public. It destroys unsuccessful incubator funds. The few successful funds will report higher incubation returns than the market return in advertisements intended to attract money from individual investors. This practice is currently allowed by the SEC. The evidence is that incubation returns are not a good predictor of subsequent fund performance and likely serve to mislead unsuspecting investors.

Philosophy and model theory frequently meet one another. Philosophy and Model Theory aims to understand their interactions -/- Model theory is used in every ‘theoretical’ branch of analytic philosophy: in philosophy of mathematics, in philosophy of science, in philosophy of language, in philosophical logic, and in metaphysics. But these wide-ranging appeals to model theory have created a highly fragmented literature. On the one hand, many philosophically significant mathematical results are found only in mathematics textbooks: these are aimed squarely at mathematicians; (...) they typically presuppose that the reader has a significant background in mathematics; and little clue is given as to their philosophical significance. On the other hand, the philosophical applications of these results are then scattered across disconnected pockets of papers, separated by decades or more. -/- The first aim of Philosophy and Model Theory, then, is to consider the philosophical uses of model theory. On a technical level, we try to show how philosophically significant results connect to one another, and also to state the best version of a result for philosophical purposes. On a philosophical level, we show how similar dialectical situations arise repeatedly, across fragmented debates in varied philosophical areas. -/- The second aim of Philosophy and Model Theory, though, is to consider the philosophy of model theory. Model theory itself is rarely taken as the subject matter of philosophising (contrast this, say, with the philosophy of biology, or the philosophy of set theory). But model theory is a beautiful part of pure mathematics, and worthy of philosophical study in its own right. (shrink)

By definition, pain is a sensory and emotional experience that is felt in a particular part of the body. The precise relationship between somatic events at the site where pain is experienced, and central processing giving rise to the mental experience of pain remains the subject of debate, but there is little disagreement in scholarly circles that both aspects of pain are critical to its experience. Recent experimental work, however, suggests a public view that is at odds with this conceptualisation. (...) By demonstrating that the public does not necessarily endorse central tenets of the “mental” view of pain (subjectivity, privacy, and incorrigibility), experimental philosophers have argued that the public holds a more “body-centric” view than most clinicians and scholars. Such a discrepancy would have important implications for how the public interacts with pain science and clinical care. In response, we tested the hypothesis that the public is capable of a more “mind-centric” view of pain. Using a series of vignettes, we demonstrate that in situations which highlight mental aspects of pain the public can, and does, recognize pain as a mental phenomenon. We also demonstrate that the public view is subject to context effects, by showing that the public’s view is modified when situations emphasizing mental and somatic aspects of pain are presented together. (shrink)

Tim Button explores the relationship between words and world; between semantics and scepticism. -/- A certain kind of philosopher – the external realist – worries that appearances might be radically deceptive. For example, she allows that we might all be brains in vats, stimulated by an infernal machine. But anyone who entertains the possibility of radical deception must also entertain a further worry: that all of our thoughts are totally contentless. That worry is just incoherent. -/- We cannot, then, be (...) external realists, who worry about the possibility of radical deception. Equally, however, we cannot be internal realists, who reject all possibility of deception. We must position ourselves somewhere between internal realism and external realism, but we cannot hope to say exactly where. We must be realists, for what that is worth, and realists within limits. -/- In establishing these claims, The Limits of Realism critically explores and develops several themes from Hilary Putnam’s work: the model-theoretic arguments; the connection between truth and justification; the brain-in-vat argument; semantic externalism; and conceptual relativity. The book establishes the continued significance of these topics for all philosophers interested in mind, logic, language, or the possibility of metaphysics. (shrink)

Tim Bayne draws on philosophy, psychology, and neuroscience in defence of the claim that consciousness is unified. He develops an account of what it means to say that consciousness is unified, and then applies this account to a variety of cases - drawn from both normal and pathological forms of experience - in which the unity of consciousness is said to break down. He goes on to explore the implications of the unity of consciousness for theories of consciousness, for the (...) sense of embodiment, and for accounts of the self. The Unity of Consciousness draws on a wide range of findings within philosophy and the sciences of the mind to construct an account of the unity of consciousness that is both conceptually sophisticated and scientifically informed. (shrink)

can highlight how everyday rhythms complicate chronological orderings of past and present and how what appears 'utterly changed' repeats in fascinating ways ...

Does thought have distinctive experiential features? Is there, in addition to sensory phenomenology, a kind of cognitive phenomenology--phenomenology of a cognitive or conceptual character? Leading philosophers of mind debate whether conscious thought has cognitive phenomenology and whether it is part of conscious perception and conscious emotion.

Universals are putative objects like wisdom, morality, redness, etc. Although we believe in properties (which, we argue, are not a kind of object), we do not believe in universals. However, a number of ordinary, natural language constructions seem to commit us to their existence. In this paper, we provide a fictionalist theory of universals, which allows us to speak as if universals existed, whilst denying that any really do.

In this work Tim Ingold provides a persuasive new approach to the theory behind our perception of the world around us. The core of the argument is that where we refer to cultural variation we should be instead be talking about variation in skill. Neither genetically innate or culturally acquired, skills are incorporated into the human organism through practice and training in an environment.They are as much biological as cultural.

To understand the mind, we need to draw equally on the fields of cognitive science and neuroscience. But these two fields have very separate intellectual roots, and very different styles. So how can these two be reconciled in order to develop a full understanding of the mind and brain.This is the focus of this landmark new book.

Accounts of the nation and national identity have tended to focus upon the transmission by cultural elites of authoritative culture, invented traditions and folk customs. Following Billig, I suggest that the national is increasingly located in the everyday and in the realm of popular culture; far more so than in ‘high’ and ‘official’ forms of culture. To exemplify this, I discuss national automobilities, specifically exploring the role of iconic models, mundane motorscapes and the everyday, habitual performances of driving. With a (...) particular focus upon British and Indian car cultures, I further suggest that the ‘national’ is not a singular or monolithic entity but is constituted out of a vast matrix of interrelated elements, three of which are the models, geographies and performances identified above. As the national proliferates and expands, becoming globalized, it generates multiple forms of national identity, although consistencies and points of focus remain. Accordingly, as in other cultural fields, I argue that while global manifestations of automobility proliferate, this has not necessarily diminished the salience of the national in the relationship between driving cars and identity. The national thus remains a powerful constituent of identity precisely because of its often unreflexive grounding in everyday spaces and practices. (shrink)

In The Mushroom at the End of the World: On the Possibility of Life in Capitalist Ruins, Anna Lowenhaupt Tsing explains how bare land is formed. Capitalism produces ‘ruins’ by stripping living beings of the capacity to form their own ecological relations, a necessary condition for the reproduction of life. Contemporary capitalism alienates living beings from ecological relations, i.e. capitalism generates “the ability to stand alone, as if the entanglements of living did not matter. Through alienation, people and things become (...) mobile assets; they can be removed from their lifeworlds in distance-defying transport to be exchanged with other assets from other life worlds, elsewhere” (Tsing 2021, 5). Cutting the threads of the web of life through capitalist alienation, however, produces bare land as a side effect, infertile waste deprived of the means to reproduce itself without capitalist support. Alienation is the deracination of living beings from their lifeworld, transforming them into passive cogs for capitalist accumulation. However, Tsing upholds matsutake mushrooms, rare fungi popular among Japa- nese foodies, as exemplars of the resilience of ecological relations. Even amidst ruins, matsutakes successfully form beneficial relations with other living beings, like pine trees, other fungi and human beings. The insistent capacity to regenerate ecological relations is the ineluctable means of reproduction for the matsutake mushroom. Even at the end of the world, the matsutake persists by perpetually co-producing new lifeworlds for itself and fellow living beings (see also Haraway 2016). I claim that Tsing’s approach to capitalist alienation is descriptively convinc- ing but lacks the affective force for ecological class consciousness. Tsing surveys the web of life from the perspective of living beings quite distant from humankind, articulating a theoretical diagnosis rather than a political exhortation. On an affective level, it is challenging to generate ecological class consciousness among the (presumably) human readers of my chapter if they are presented with only the biographies of mushrooms growing far beyond my home. As Chantal Mouffe (2018, 72) argues, the construction of an emphatically political identity requires an appeal to the affects, like hope, indignation or compassion. Latour and Schultz also stress that ecological politics currently suffers from an affective misalignment, with people failing to identify with the fate of their increasingly inhospitable environments (2022, 47). Why would European humans care about these unknown fungi? The reproduction of our CO2-intensive livelihoods largely depends on the emission of bare land elsewhere, so in the short run, we stand to benefit more from putting our heads in the sand. I employ Chakrabarty’s (2021) suggestion of grounding post-humanist politics first in strategic anthropocentrism to subsequently push for a post-humanist expansion of our human understanding. One must first feel personally interpellated by the crisis of the global means of reproduction before one can grasp the need for an ecological class politics beyond human confines. I turn to John Steinbeck’s 1939 novel The Grapes of Wrath as a kindred spirit with more mobilising potential. Steinbeck tells the story of a family of impoverished farmers from Oklahoma, the Joads, travelling to California in pursuit of a better life, yet only encountering more poverty, exploitation and anti-immigrant racism. Steinbeck describes in detail the environmental and social devastation, but he focuses on the commodified labour power of migrant farmers rather than commodified mushrooms. Steinbeck’s main characters are also uprooted from their entangled histories in the land and community of rural Oklahoma, but they present a more familiar face of the ecological class deprived of the means of reproduction. Steinbeck’s outcry against alienation-as-deracination is clear, but the shift in perspective facilitates the empathetic outrage required for building ecological class consciousness. Steinbeck’s strategic anthropocentrism helps human readers understand why alienation-as-deracination is a concern. (shrink)

Neuropsychological results are increasingly cited in cognitive theories although their methodology has been severely criticised. The book argues for an eclectic approach but particularly stresses the use of single-case studies. A range of potential artifacts exists when inferences are made from such studies to the organisation of normal function – for example, resource differences among tasks, premorbid individual differences, and reorganisation of function. The use of “strong” and “classical” dissociations minimises potential artifacts. The theoretical convergence between findings from fields where (...) cognitive neuropsychology is well developed and those from the normal literature strongly suggests that the potential artifacts are not critical. The fields examined in detail in this respect are short-term memory, reading, writing, the organisation of input and output speech systems, and visual perception. Functional dissociation data suggest that not only are input systems organised modularly, but so are central systems. This conclusion is supported by findings on impairment of knowledge, visual attention, supervisory functions, memory, and consciousness. (shrink)

I call into question a pair of closely related assumptions that are almost universally shared in the literature on predicates of taste. The assumptions are, first, that predicates of taste – words like ‘tasty’ – are semantically evaluative. In other words, that it is part of the meaning of a word like ‘tasty’ to describe an object as in some sense good, or to say that it is pleasing. And second, that the meaning of predicates of taste is in some (...) way relativized to an experiencer or standard – the person that the object is pleasing to or the standard according to which the object is good. Parties to the literature on these terms tend to disagree about the role of context in determining the truth of claims involving predicates of taste, or in determining which proposition is expressed. But they agree that to call some dish ‘tasty’ is to say something positive about that dish, to suggest that someone or other finds, or is disposed to find, the dish pleasing. I suggest instead that ‘tasty’, and indeed... (shrink)

Anthropology is a disciplined inquiry into the conditions and potentials of human life. Generations of theorists, however, have expunged life from their accounts, treating it as the mere output of patterns, codes, structures or systems variously defined as genetic or cultural, natural or social. Building on his classic work The Perception of the Environment, Tim Ingold sets out to restore life to where it should belong, at the heart of anthropological concern. Being Alive ranges over such themes as the vitality (...) of materials, what it means to make things, the perception and formation of the ground, the mingling of earth and sky in the weather-world, the experiences of light, sound and feeling, the role of storytelling in the integration of knowledge, and the potential of drawing to unite observation and description. Our humanity, Ingold argues, does not come ready-made but is continually fashioned in our movements along ways of life. Starting from the idea of life as a process of wayfaring, Ingold presents a radically new understanding of movement, knowledge and description as dimensions not just of being in the world, but of being alive to what is going on there. (shrink)

The Meno is one of the foundational dialogues of the Platonic tradition - it initiates a series of investigations into subjects which lie at the heart of philosophy: What is virtue? How is it acquired?This edition of Taylor's revision of Sydenham's translation adds three introductory essays by Tim Addley and an extract from Procclus' commentary on The Republic on Virtue.

In her ground-breaking and highly influential book Transformative Experience, L.A. Paul makes two claims: (1) one cannot evaluate and compare certain experiential outcomes (e.g. being a parent and being a non-parent) unless one can grasp what these outcomes are like; and (2) one can evaluate and compare certain intuitively horrible outcomes (e.g. being eaten alive by sharks) as bad and worse than certain other outcomes even if one cannot grasp what these intuitively horrible outcomes are like. We argue that the (...) conjunction of these two claims leads to an implausible discontinuity in the evaluability of outcomes. One implication of positing such a discontinuity is that evaluative comparisons of outcomes will not be proportionally sensitive to variation in the underlying features of these outcomes. This puts pressure on Paul to abandon either (1) or (2). But (1) is central to her view and (2) is very hard to deny. We call this the Shark Problem. (shrink)

We argue that corporate social performance (CSP) has become a legitimizing identity (brand) for researchers in the business and society field, but it has not developed into a viable theoretical or operational construct. Because measuring CSP is contingent on the operational setting (industry, issues, etc.), it is difficult to produce worthwhile comparisons across studies or generalizing beyond the boundaries of a specific study. The authors suggest that researchers remove the CSP label from their operational variables, and instead narrowly define their (...) studies in operational terms. They provide aworking example of the proposed research direction by examining the theory underlying the popular CSP–financial performance (FP) debate. In the authors’ conceptualization, stakeholder action provides the underlying logic connecting CSP-FP, and we recast the research question to investigate the conditions under which stakeholders will take action to influence the focal organization and when those actions will influence the CSP-FP link. (shrink)

I advocate scepticism about epistemic blame; the view that we have good reason to think there is no distinctively epistemic form of blame. Epistemologists often find it useful to draw a distinction between blameless and blameworthy norm violation. In recent years, this has led several writers to develop theories of ‘epistemic blame.’ I present two challenges against the very idea of epistemic blame. First, everything that is supposedly done by epistemic blame is done by epistemic evaluation, at least according to (...) a prominent view about the social role of epistemic evaluation. Parsimony considerations count against introducing an idle mechanism that does the same work as an existing one. Second, no current theory of epistemic blame includes a plausible account of the force of epistemic blame or the practices that could express it. I conclude that we should give up the notion of epistemic blame. (shrink)

In recent years there has been an increase in the number of calls for moral education to receive greater public attention. In our pluralist society, however, it is difficult to find agreement on what exactly moral education requires. Philosophical Discussion in Moral Education develops a detailed philosophical defence of the claim that teachers should engage students in ethical discussions to promote moral competence and strengthen moral character. Paying particular attention to the teacher's role, this book highlights the justification for, and (...) methods of, creating a classroom community of ethical inquiry. (shrink)

Much recent discussion has focused on the nature of artifacts, particularly on whether artifacts have essences. While the general consensus is that artifacts are at least intention-dependent, an equally common view is function essentialism about artifacts, the view that artifacts are essentially functional objects and that membership in an artifact kind is determined by a particular, shared function. This paper argues that function essentialism about artifacts is false. First, the two component conditions of function essentialism are given a clear and (...) precise formulation, after which counterexamples are offered to each. Second, ways to handle the counterexamples suggested by Randall Dipert and Simon Evnine are considered and rejected. Third, I then consider the prospects for restricting function essentialism to so-called technical artifacts, as Lynne Baker does, and argue that this, too, fails. This paper thereby consolidates the scattered literature on function essentialism and shows that, despite the seeming plausibility of the thesis, it should be rejected as an account of artifact essences. (shrink)

Tim Mulgan presents a penetrating examination of consequentialism: the theory that human behavior must be judged in terms of the goodness or badness of its consequences. The problem with consequentialism is that it seems unreasonably demanding, leaving us no room for our own aims and interests. In response, Mulgan offers his own, more practical version of consequentialism--one that will surely appeal to philosophers and laypersons alike.

Peer reporting is a specific form of whistelblowing in which an individual discloses the wrongdoing of a peer. Previous studies have examined situational variables thought to influence a person's decision to report the wrongdoing of a peer. The present study looked at peer reporting from the individual level. Five hypotheses were developed concerning the relationships between (1) religiosity and ethical ideology, (2) ethical ideology and ethical judgments about peer reporting, and (3) ethical judgments and intentions to report peer wrongdoing.Subjects read (...) a vignette concerning academic cheating, and were asked to respond to a question-naire concerning the vignette. Data were analyzed using structural equation methodology. (shrink)

What do we owe to our descendants? How do we balance their needs against our own? Tim Mulgan develops a new theory of our obligations to future generations, based on a new rule-consequentialist account of the morality of individual reproduction. He also brings together several different contemporary philosophical discussions, including the demands of morality and international justice. His aim is to produce a coherent, intuitively plausible moral theory that is not unreasonably demanding, even when extended to cover future people. While (...) the book focuses on developing this new account, there are also substantial discussions of alternative views, especially contract-based accounts of intergenerational justice and competing forms of consequentialism. (shrink)

I defend the intention-dependence of artifacts, which says that something is an artifact of kind K only if it is the successful product of an intention to make an artifact of kind K. I consider objections from two directions. First, that artifacts are often mind- and intention-dependent, but that this isn’t necessary, as shown by swamp cases. I offer various error theories for why someone would have artifact intuitions in such cases. Second, that while artifacts are necessarily mind-dependent, they aren’t (...) necessarily intention-dependent. I consider and reject three kinds of cases which purport to show this: accidental creation, automated production, and mass production. I argue that intentions are present in all of these cases, but not where we would normally expect. (shrink)

This paper makes the case for an inhabited institutionalism by pondering questions that continue to vex institutional theory: How can we account for local activity, agency, and change without reverting to a focus on individual actors—the very kinds of actors that institutional theory was designed to critique? How is change possible in an institutional context that constructs interests and sets the very conditions for such action? Efforts to deal with these questions by inserting various forms of individual, purposive actors into (...) institutional frameworks have created inconsistencies that threaten the overall coherence of institutional theory and move it farther from its sociological roots. To provide alternative answers, we turn to the growing line of work on “inhabited” institutions. Our exegesis of this literature has two goals. The first goal is to shift focus away from individuals and nested imagery and towards social interaction and coupling configurations. This move opens new avenues for research and helps to identify the spaces—both conceptual and empirical—and the supra-individual processes that facilitate change. This shift has important theoretical implications: incorporating social interaction alters institutional theory, and our second goal is to specify an analytic framework for this new research, an inhabited institutionalism. Inhabited institutionalism is a meso-approach for examining the recursive relationships among institutions, interactions, and organizations. It provides novel and sociologically consistent means for dealing with issues of agency and change, and a new agenda for research that can reinvigorate and reunite organizational sociology and institutional theory. (shrink)

I argue that Norton & Earman's hole argument, despite its historical association with General Relativity, turns upon very general features of any linguistic system that can represent substances by names. After exploring various means by which mathematical objects can be interpreted as representing physical possibilities, I suggest that a form of essentialism can solve the hole dilemma without abandoning either determinism or substantivalism. Finally, I identify the basic tenets of such an essentialism in Newton's writings and consider how they can (...) be updated to apply to the case provided by General Relativity. (shrink)

This paper is about a puzzle which lies at the heart of contemporary physicalist theories of mind. On the one hand, the original motivation for physicalism was the need to explain the place of mental causation in the physical world. On the other hand, physicalists have recently come to see the explanation of mental causation as one of their major problems. But how can this be? How can it be that physicalist theories still have a problem explaining something which their (...) physicalism was intended to explain in the first place? If physicalism is meant to be an explanation of mental causation, then why should it still face the problem of mental causation? (shrink)

Abstract objects are standardly taken to be causally inert, however principled arguments for this claim are rarely given. As a result, a number of recent authors have claimed that abstract objects are causally efficacious. These authors take abstracta to be temporally located in order to enter into causal relations but lack a spatial location. In this paper, I argue that such a position is untenable by showing first that causation requires its relata to have a temporal location, but second, that (...) if an entity is temporally located then it is spatiotemporally located since this follows from the theory of Relativity. Since abstract objects lack a spatiotemporal location, then if something is causally efficacious, it is not abstract. (shrink)