This study formulates a two-factor empirical model under the intertemporal CAPM framework to evaluate the cross-sectional implications of socially responsible investments in the US equity market. Our results show that socially responsible investments have no asset pricing impact on the US market. We argue that this ‘no financial impact’ finding indicates that investors will not be disadvantaged financially by investing in socially responsible funds or corporations.

Zenpen Kyūsō Sensei bunshū -- Hoi Kyūsō Sensei bunshū -- Kōhen Kyūsō Sensei bunshū -- Furoku Kyūsō ikkō.

Volume 26, Issue 2, June 2019, Page 163-167.

In the development of history, due to the unbalanced development of various ethnic groups, some ethnic minorities do not have their own characters. However, with the development of the times and the appearance of cultural relics, it can be seen that most ethnic groups have their own unique dances, and the performance forms and styles of dances reflect the connotation of dance culture and religious culture to a great extent. This paper makes a related research on the influence of religious (...) consciousness on the cultural connotation of dance. This paper expounds the related concepts of religious culture and dance culture, and analyzes the relationship between religious culture and dance culture in order to promote the development of religious culture and promote the unique charm of ethnic dance in religious culture. At the same time, based on the current development of religious culture and dance culture, this paper analyzes and discusses the inheritance and development of religious culture in dance culture. In this paper, an in-depth study of the relationship between dance culture and religious culture is helpful for dancers to grasp the scale of dance and religion, absorb reasonable factors, learn from historical experience and prosper dance creation. (shrink)

This study examines the influence of Confucianism on corporate poverty alleviation (PA) participation. We argue that firms in regions with more Confucian temples are more likely to participate in government-initiated PA programs because Confucianism emphasizes common social welfare. This positive relationship is stronger for firms with chief executive officers born in Confucian regions and for firms that are under high media pressure, as the trade-off between social welfare and firm interest is in favor of Confucianism. Using a sample of Chinese-listed (...) firms, we find evidence supporting our arguments. Moreover, we find consistent evidence that firms influenced by Confucianism are motivated to pay long-term attention to PA activities and improve corporate PA efficiency, highlighting the substantive role of Confucianism in a PA campaign. Our study contributes to the business ethics literature by introducing Confucianism into research on corporate social activities and provides practical implications. (shrink)

This paper examines an aspect of the grammar-interaction interface with respect to how participants orient to intra-turn phrasal unit boundaries as a locus that has interactional import for turn and sequence organization in Korean conversation. Phrasal unit boundaries in Korean serve as a space within a turn in which the speaker of the turn in-progress invites the recipient to acknowledge the speaker's point expressed up-to-that-point and collaboratively display his/her understanding thereof. In a sequentially and topically 'ripe' context, such unit boundaries (...) often constitute places where more active participation on the part of the recipient is invited in the form of collaborative completion in which the recipient co-constructs the primary speaker's on-going turn. Phrasal unit boundaries also provide interactional resources which the speaker may exploit to sequentially delete out a problem in talk, e.g., by a sort of tying operation in which a subsequently added phrasal unit ties back to the speaker's previous utterance to the effect that the intervening talk containing a problem is canceled out by way of being shown to have been an interruption of the speaker's turn in-progress. This practice points to an aspect of the way in which the 'agglutinative' grammatical process involving the use of phrasal units shapes interactional patterns as observed in the course of organizing turns/sequences and managing problems in talk. (shrink)

This paper examines an aspect of the grammar-interaction interface with respect to how participants orient to intra-turn phrasal unit boundaries as a locus that has interactional import for turn and sequence organization in Korean conversation. Phrasal unit boundaries in Korean serve as a space within a turn in which the speaker of the turn in-progress invites the recipient to acknowledge the speaker's point expressed up-to-that-point and collaboratively display his/her understanding thereof. In a sequentially and topically 'ripe' context, such unit boundaries (...) often constitute places where more active participation on the part of the recipient is invited in the form of collaborative completion in which the recipient co-constructs the primary speaker's on-going turn. Phrasal unit boundaries also provide interactional resources which the speaker may exploit to sequentially delete out a problem in talk, e.g., by a sort of tying operation in which a subsequently added phrasal unit ties back to the speaker's previous utterance to the effect that the intervening talk containing a problem is canceled out by way of being shown to have been an interruption of the speaker's turn in-progress. This practice points to an aspect of the way in which the 'agglutinative' grammatical process involving the use of phrasal units shapes interactional patterns as observed in the course of organizing turns/sequences and managing problems in talk. (shrink)

Recent scholars focus mainly on Paul’s use of ‘brothers (and sisters)’ or ‘brother (and sister)’ in Greco-Roman epistolary conventions and cultural backdrops. However, Jewish dimensions (particularly ethnic dimensions) of Paul’s sibling language still remain unexplored in current scholarship. Furthermore, scholars have not drawn much attention to how Jewish letter writers use sibling terms in their letters. This article offers a new interpretation on Paul’s sibling language in light of its Jewish usage. We should note that Jewish letter writers did not (...) address their Gentile letter recipients as ‘brother(s)’. However, Paul did call his recipients ‘brothers’. It is unlikely that Paul employed sibling language without being aware of its common Jewish usage. The author proposes that Paul’s sibling language is used in the context of an ethnic insider designation (shared ethnicity), and that ascribing the title of brother to believers including Gentiles signals the re-definition of the family of Abraham. (shrink)

This paper aims at proposing a criterion to analyze the concept of subjectivity by surveying and classifying the theories of some major figures in the history of the western philosophy: Plato, Aristotle, Descartes, Hobbes, Bentham, Kant, and Hegel. As proceeding in this work, I reveal two approaches which confront each other, self-centered viewpoint and system-centered viewpoint, and arrange Descartes, Hobbes, and Bentham into the former, and Aristotle and Kant into the latter. Also, I assign Plato and Hegel to an alternative, (...) say, unified viewpoint. In this project, the subjectivity is defined as the fundamental status of a man. When dealing with it, two kinds of viewpoint present and distinguish themselves from each other by two factors as follows: one is whether or not it allows mediation with others to be involved in the configuration of subjectivity, and the other is whether it is determined by its formal features or by its contents. The self-centered viewpoint gets married with the no allowance of mediation and the contents-determining, and the system-centered one does with the allowance and theformality-determining. And the unified viewpoint is suggested as an overcoming account of those two. The significance of this attempt would be these three: one is that it can provide a clue to create new spectrum through which theories in the history of the philosophy are looked out over. Secondly, it can be groundwork to seek for a source of normative ethics by a way of re-determining personal identity. Finally, criticizing the self-centered viewpoint, a dominant account in present moral discourse, it can propose a footstone for an alternative theory of it. (shrink)

Mal ŭi him -- Kŏjinmal ch'ammal kŭrigo ch'immuk.

Using a signaling framework, we argue that ethical behavior as evidenced by charitable donations is viewed more positively by investors when seen not to be based on self-serving motives but rather on authentic generosity that builds moral capital. The affirmed religiosity of CEOs may make their ethical position more credible, while their embeddedness within a family business suggests that CEOs are backed by powerful owners with long-time horizons and a desire to build moral capital with stakeholders. We find in a (...) study of market responses to 1572 corporate donations by S&P 1500 firms that financial markets react more positively to charitable initiatives from firms with religion-declared CEOs, but only if these are family businesses. (shrink)

We investigate how state involvement in the ownership of non-listed entrepreneurial firms affects pollution fees levied by national and provincial governments in China. While the national government sets minimum environmental standards, provincial governments can enact requirements that exceed these minimums, and they are largely responsible for enforcing even the national standards, so environmental levies can measure concessions that provinces make to encourage development and employment. Furthermore, state ownership is a good proxy for a firm’s political connections, which can influence the (...) relationship between the firm and the environmental authorities. We find that firms with state ownership pay lower environmental levies, which indicates that concessions are made for political or economic purposes. However, these concessions are conditional on the level of development of the province offering them, with better developed provinces providing fewer concessions. (shrink)

Hannah Arendt’s conception of violence in On Violence ignores cases in which violence becomes an expression of power. Through my discussion of a government’s use of violence to control criminal violence and the Algerian Revolution, I argue that an Arendtian communicative relationship between power and violence is unrealistic; a decision to use violence can arise within a government bureaucracy or between an anti-colonial group and their supporters, but not between a colonial oppressor and the oppressed. The decision to use violence (...) is a product of power and cannot actually expect a literal public support. Since the decision arises from the power an entity has over others and the need to maintain power, it is unrealistic for power to rule absolutely or for violence to disappear because there is absolute power. Arendt’s central claim is insufficient because it does not consider how using violence is a decision arising from power. (shrink)