Does the board of directors influence cost of debt financing? This study of a sample of Spanish listed companies during the period 2004-2007 provides some evidence about the question. The results suggest that two board attributes - director ownership and board activity - appear to influence in the risk assessment of debtholders because of their ability to reduce agency cost and information asymmetry. We also find a non-linear relationship between board size and cost of debt, suggesting that from certain levels (...) the benefits of large boards may be outweighed by the cost of poorer communication and increased decision-making time. (shrink)

El ensayo “Coercion and the Varieties of Free Action” de Peter Baumann permite una nueva visión sobre lo que consideramos una acción libre. Partiendo de casos reales mostraré las tensiones filosóficas que implica aceptar tesis tradicionalistas de lo que es una acción libre, seguido a esto expondré las ideas baumannianas de lo que es una acción libre. A continuación mostraré cómo los puntos de la tesis de Baumann se aplican a un caso real, y finalmente daré mis conclusiones sobre en (...) qué momentos podemos hablar de una acción verdaderamente libre. (shrink)

Los castillos ideológicos pueden parecer fortalezas inexpugnables, construidas sobre sólidas verdades, pero la historia nos da abundantes ejemplos de su desmoronamiento, debido simplemente a que no responden a lo que realmente son el hombre y el mundo, a la verdad objetiva de las cosas.

Many philosophers hold that if an agent acts intentionally, she must know what she is doing. Although the scholarly consensus for many years was to reject the thesis in light of presumed counterexamples by Donald Davidson, several scholars have recently argued that attention to aspectual distinctions and the practical nature of this knowledge shows that these counterexamples fail. In this paper I defend a new objection against the thesis, one modelled after Timothy Williamson’s anti-luminosity argument. Since this argument relies on (...) general principles about the nature of knowledge rather than on intuitions about fringe cases, the recent responses that have been given to defuse the force of Davidson’s objection are silent against it. Moreover, the argument suggests that even weaker theses connecting practical entities with knowledge are also false. Recent defenders of the thesis that there is a necessary connection between knowledge and intentional action are motivated by the insight that this connection is non-accidental. I close with a positive proposal to account for the non-accidentality of this link without appeal to necessary connections by drawing an extended analogy between practical and perceptual knowledge. (shrink)

Evidentialism and Reliabilism are two of the main contemporary theories of epistemic justification. Some authors have thought that the theories are not incompatible with each other, and that a hybrid theory which incorporates elements of both should be taken into account. More recently, other authors have argued that the resulting theory is well- placed to deal with fine-grained doxastic attitudes (credences). In this paper I review the reasons for adopting this kind of hybrid theory, paying attention to the case of (...) credences and the notion of probability involved in their treatment. I argue that the notion of probability in question can only be an epistemic (or evidential) kind of probability. I conclude that the resulting theory will be incompatible with Reliabilism in one important respect: it cannot deliver on the reductivist promise of Reliabilism. I also argue that attention to the justification of basic beliefs reveals limitations in the Evidentialist framework as well. The theory that results from the right combination of Evidentialism and Reliabilism, therefore, is neither Evidentialist nor Reliabilist. (shrink)

I argue for a theory that combines elements of reliabilism and evidentialism.

Munch-Jurisic’s account of perpetrator disgust raises important new questions concerning the complexity of emotions and their connection with moral actions. In this commentary, we discuss this account by applying some of the author’s ideas to the case of anger. We suggest that just as the relations between disgust and moral action are much more nuanced than previously thought, as Munch-Jurisic explains, analyses of anger can also profit from a more careful approach to such connections. Specifically, we propose that contextual factors (...) can affect the moral character of anger reactions, which in turn can provide them with moral value. We also argue that the contextual view deployed to study disgust reactions can also support distinctions between core forms and socio-moral forms of the same emotion, which in turn raises interesting questions concerning different forms of anger. Lastly, we extend the contextual approach to problems of emotion individuation and theories in emotion science, showing how current scientific emotion theories can learn from a detailed examination of disgust, anger, and other context-sensitive emotions. We aim to highlight some important contributions of Munch-Jurisic’s work to broader discussions on emotions, morality, and how to theorize about emotions overall. (shrink)

El pensamiento vivo de Juan Luis Vives, por Joaquín Xirau.--Páginas escogidas de Juan Luis Vives: De concordia y discordia. Tratado del alma. Introducción a la sabiduría. Del socorro de los pobres. Tratado de la enseñanza.

Los almohades utilizaron sus monedas para difundir sus mensajes religiosos e ideológicos, no constituyendo una excepción en este aspecto. La nueva forma cuadrada, la metrología y las leyendas de la numismática almohade reflejan la situación histórica y sus posicionamientos sociales y políticos. La forma cuadrada equipara la moneda con su correspondiente dineral y fue un elemento de identificación política. Las leyendas religiosas proclaman la teología almohade de la unicidad de Dios y el lema de la dinastía. Las leyendas genealógicas tuvieron (...) gran importancia para evidenciar la legitimidad dinástica del soberano. (shrink)

The founding operation of the American States involves a mediating mechanism that enables the connection between the ideals supporting it and the intent for its popularization among people. Such is the function assigned to the founding heroes, which is analyzed as a cultural operation that aims to enshrine these ideals, thereby eliding the violence contained in the formation of modern States.

In the international sphere, sovereignty and fundamental rights are often at odds, giving these rights little space for action and, in general, only after crisis has led to tragedy, and tragedy to disgrace. International Law, on the other hand, consistently succumbs to forms of domination and power, and its scope of action is often limited to certain codifications which are frequently suspended by political exception. Sixteenth century Dominican theologian, Francisco de Vitoria, established the principles for a Law of the people, (...) based on secular civil power that, while still exercising internal sovereignty, could defend and privilege the “rights of all men” over the exercise of power and private interest. This article focuses on this dispute to show Vitoria’s position, who long preceded the great declarations of human rights of the 18 th century, presenting an original doctrine within the framework of an emerging globalization and based on the defense of fundamental rights. (shrink)

What if what is permissible and acceptable today is anathema tomorrow? There is a whole canon of scholarly ethics books written with the express purpose of telling you what is RIGHT and what is WRONG. This is not one such book. Juan Enriquez wants to make it easier for us to talk to one another, to prod one another, to understand and guide one another without an everlasting certainty of strict RIGHT v WRONG.

"Spinoza", à quoi ça sert? Et comment s'en servir? En particulier, comment penser la mise à l'épreuve du rationalisme spécifique dont il est le nom? L'objectif de ce travail est de contribuer à une réévaluation non seulement du rôle de la pratique dans la pensée de Spinoza, mais encore du système lui-même, de sa capacité à s'adapter et à communiquer avec des domaines tels que les sciences expérimentales, l'histoire, la politique ou la médecine. A travers les concepts et problèmes, tels (...) qu'ils sont formulés dans ses textes, mais également leur utilisation contemporaine, il s'agit ici d'analyser l'articulation de la philosophie de Spinoza au champ de l'action humaine, dans ses dimensions éthique, sociale, cognitive et affective - et d'apprécier la puissance de la rationalité qui en est le fondement. Les auteurs viennent d'horizons différents : professeurs, docteurs, doctorants, étudiants ou érudits originaires de divers pays, ils proposent dans les articles ici présentés des approches variées et originales des problèmes qu'ils traitent, offrant ainsi au lecteur un aperçu de la vitalité des réflexions que suscite aujourd'hui l'oeuvre de Spinoza. (shrink)

Ecological sciences have informed environmental ethics from its inception as a scholarly pursuit in the 1970s-so much so that we now have ecological ethics, Deep Ecology, and ecofeminism. Throughout the 20th century, however, most ecologists remained enthralled by the myth that science is value-free. Closer study of science by philosophers reveals that metaphors are inescapable and cognitively indispensable to science, but that metaphors are value-laden. As we confront the enormous challenges of the 21st century-the prospect of a 6th mass extinction, (...) acidifying oceans, rising sea level, and global warming-ecologists can no longer remain aloof from public discourse about what actions to take to address these problems. And that means that 21st century ecologists understand that right action is guided by ethics. However, integration of ethical ideas into academic curricula and ecologists' research agendas is still meager. Aldo Leopold, 1947 President of the Ecological Society of America, keenly understood that latent in ecological sciences is an organizing worldview, with implications for reordering societal values and expanding ethics to embrace "soils, waters, plants, and animals, or collectively: the land." Going beyond Leopold's land ethic, contemporary environmental ethics includes eco-social justice and the realization that as important as biodiversity is cultural diversity, inter-cultural, inter-institutional, and international collaboration requiring a novel approach known as biocultural conservation. Right action in confronting the challenges of the 21st century requires science and ethics to be seamlessly integrated. Contemporary science proposes the concept of the inclusive ecosystem that recognizes humans as components. In this book, this "inclusive conviction is endorsed, fortunately, by over forty contributors sharing their accounts, of living well in place, combining nature and culture, residing on landscapes: biocultural ethics" (Holmes Rolston, III). (shrink)

Manual de dialéctica, retórica y lógica aplicada, que es a la vez, como el texto mismo lo demuestra, una herramienta efectiva para acabar con el sofista, desmontar y anular los artilugios retóricos con los que el demagogo, el charlatán, el político y toda la caterva de embaucadores del discurso ejecutan su engaño.

This chapter offers some insight into Spinoza's understanding of the concept of potentia. As is well known amongst scholars, the concept of potentia is fundamental for Spinoza. From ontology, to ethics and politics, the concept of potentia seems to embody the unity of Spinoza's thought. Unlike E1p9, Spinoza focuses on the independence or in the per se nature of the intelligibility of each attribute. The demonstration of the proposition recalls both the definition of the attribute and the definition of substance (...) as explanations. Having more reality, Spinoza states, means having more powers or strength, that is, more potentia to exist. The chapter shows that Spinoza's radical ontology of power emerges in the propositions preparing the consideration of God's necessary existence, namely E1p9–10. (shrink)