For stakeholders, such as investors and lenders, to appropriately assess a company's financial performance, the reported accounting earnings must closely reflect the economic reality of the organization's financial activity throughout the reporting period. The degree to which reported earnings capture economic reality is called earnings quality. Managers have an ethical obligation to report high quality earnings to interested stakeholders in a timely matter. Accounting research has identified conditions within an organization, such as management compensation contracts and pending litigation that can (...) impact earnings quality. We extend this line of research by exploring whether another characteristic of an organization, gender diversity in senior management, influences the quality of reported earnings. Companies with more women in senior management are found to be more profitable and have higher stock returns after initial public offerings than those with fewer women in the management ranks. Our findings suggest that the improved bottom line for companies with more women senior executives is not produced through the management of earnings or lower quality earnings. Instead, earnings quality is positively associated with gender diversity in senior management. (shrink)

We examine the relation between earnings information content and the use of trust words, such as “character,” “ethics,” and “honest,” in the MD&A section of 10-K. We find that earnings announcements of firms using trust words have lower information content than earnings announcements of firms that do not use trust words. We also find that the value relevance of earnings is lower for firms using trust words than those not using trust words. Further, firms using trust words are more likely (...) to receive a comment letter from the SEC, pay higher audit fees, and have lower corporate social responsibility scores. Overall, our results suggest that firms that use trust words in the 10-K are associated with negative outcomes, and trust words are an inverse measure of trust. (shrink)

There is a dearth of business ethics research on family firms, despite the importance of such firms to the US economy. We answer Vazquez’s call to examine the intersection of family-firm research and business ethics, by investigating whether external auditors assess higher risk of fraud in family firms. We test the contradictory predictions of two dominant theoretical perspectives in family-firm research—entrenchment theory and alignment theory. We conduct an experiment with highly experienced external audit professionals, who assess the risk of fraud (...) and make client acceptance decisions for family firms versus non-family firms with different strength of corporate governance: strong versus weak audit committees. We find that auditors assess the risk of fraud as higher for family firms than for non-family firms, consistent with the predictions of entrenchment theory. Auditors are also less likely to make client acceptance recommendations for family firms. The strength of the AC moderates the family-firm effect, whereby auditors assess family firms with weak ACs to have the highest fraud risk and to be the least desirable audit clients. Our findings suggest that auditors perceive more severe agency conflicts to be present in family firms than in non-family firms, consistent with entrenchment theory, according to which family members may behave opportunistically to extract rents and potentially expropriate the firm’s resources at the expense of minority shareholders. (shrink)

These further readings on the subject are selected and suggested by the editors of this issue and are published here with kind permissons of the owners of the respective copyrights.

Way back in the 1980s corporations began collecting, combining, and crunching data from sources through-out the enterprise. This approach was widely accepted as a methodology that provides objectivity and trans-parency in decision-making. Good processing of the garnered data paved way for improved analysis of trends and patterns leading to better business and increased profit margins. Corporations began investing in collect-ing, storing, processing and maintaining enterprise wide data. The focus was always on the quality of data and the process of converting (...) it into knowledge that enables right decisions. It was soon realized that a wide range of personal biases has an impact on the way decisions are made. The entire process is replete with ethical dilemmas. This paper provides a framework to understand the interplay of data, information, personal biases, ethics and decision-making. This approach is suitable for every individ-ual, team, organization or a nation. Several years of turmoil in South Africa make it imminent for it to take a fresh look at the way data is transformed into knowledge. The leadership within South Africa has to arrive at wise decisions that can withstand the scrutiny of generations to come. (shrink)

A unique study of the earliest recorded "discourses" of the Buddha, taking an approach that is at once psychological, philosophical, and literary. The book is a series of essays on specific passages from the Buddha's original Discourses and is an introduction to the Buddha's radical empiricism for all people who like to read, think, and investigate.

A comprehensive analysis of all of Schmitt's major works--his books, articles & pamphlets from 1919 to 1950--presented in an arresting narrative form.

Classical commentary with supercommentary on Yogasūtra of Patañjali; critical edition with exhaustive study.

Bernard Williams thought that philosophy should address real human concerns felt beyond academic philosophy. But what wider concerns are addressed by Ethics and the Limits of Philosophy, a book he introduces as being ‘principally about how things are in moral philosophy’? In this article, we argue that Williams responded to the concerns of his day indirectly, refraining from explicitly claiming wider cultural relevance, but hinting at it in the pair of epigraphs that opens the main text. This was Williams’s solution (...) to what he perceived as the stylistic problem of how to pursue philosophy as cultural critique. Taking the epigraphs as interpretative keys to the wider resonances of the book, we show how they reveal Williams’s philosophical concerns – with the primacy of character over method, the obligation to follow orders, and the possibility of combining truth, truthfulness, and a meaningful life in a disillusioned world – to be recognisably rooted in the cultural concerns of post-war Britain. In the light of its epigraphs, the book emerges as the critique of a philosophical tradition’s inadequacies to the special difficulties of its cultural moment. (shrink)

Reasons can interact in a variety of ways to determine what we ought to do. For example, I might face a choice of whether to work on this paper or socialize with friends. And it might be that the only relevant reason to work on this paper is that I have a deadline coming up soon and that the only relevant reason to socialize is that it is relaxing. In this case, whether I ought to work on the paper or (...) ought to stay at home is determined by which of these reasons is stronger. (shrink)

The usefulness of machine learning algorithms has led to their widespread adoption prior to the development of a conceptual framework for making sense of them. One common response to this situation is to say that machine learning suffers from a “black box problem.” That is, machine learning algorithms are “opaque” to human users, failing to be “interpretable” or “explicable” in terms that would render categorization procedures “understandable.” The purpose of this paper is to challenge the widespread agreement about the existence (...) and importance of a black box problem. The first section argues that “interpretability” and cognates lack precise meanings when applied to algorithms. This makes the concepts difficult to use when trying to solve the problems that have motivated the call for interpretability. Furthermore, since there is no adequate account of the concepts themselves, it is not possible to assess whether particular technical features supply formal definitions of those concepts. The second section argues that there are ways of being a responsible user of these algorithms that do not require interpretability. In many cases in which a black box problem is cited, interpretability is a means to a further end such as justification or non-discrimination. Since addressing these problems need not involve something that looks like an “interpretation” of an algorithm, the focus on interpretability artificially constrains the solution space by characterizing one possible solution as the problem itself. Where possible, discussion should be reformulated in terms of the ends of interpretability. (shrink)

This chapter argues that several aspects of Bernard Williams’s style, methodology, and metaphilosophy can be read as evolving dialectically out of Wittgenstein’s own. After considering Wittgenstein as a stylistic influence on Williams, especially as regards ideals of clarity, precision, and depth, Williams’s methodological debt to Wittgenstein is examined, in particular his anthropological interest in thick concepts and their point. The chapter then turns to Williams’s explicit association, in the 1990s, with a certain form of Wittgensteinianism, which he called ‘Left Wittgensteinianism’. (...) It is shown how this is not a sudden conversion, but the direct product of Williams’s longstanding critical engagement with Wittgenstein’s methodology and metaphilosophy: Williams arrives at this position by envisaging a Wittgensteinianism that thinks in concrete sociohistorical terms, embraces genuine explanation, and relinquishes its insistence on the purity of philosophy. When properly understood, moreover, this critique turns out to be continuous with Williams’s advocacy of a conception of philosophy as a humanistic discipline. Finally, it is shown that Williams inherits from Wittgenstein a certain understanding of how philosophy can help us to live, in particular the therapeutic ambition to liberate us from distortions in our self-understanding by assembling reminders. (shrink)

The book, ‘The Crisis of World and Krishna Pure Monism: A Long Essay’, is more a cathartics of the crisis of world as viewed from the plane of Krishna pure monism than critique of hither to development of idea and philosophy. It sees a correlation of the crisis of world in praxis of objectification of subject, undermining of the knowledge and violation of Krishna pure monism-one has become all and inherence of knowledge. If objectification of subject is juxtaposed with resultant (...) objectification of women, nature, ‘other’, knowledge and idea or Reason or Dharma, it would certainly validate the hypothesis of the essay. The main hypothesis of the essay is as to how objectification of subject on the plane of sciencitization of philosophy and violation of Krishna pure monism-one has become all and inherent knowledge and , and its subversion by muses have led to the crisis of world. The objectification of subject or consciousness or spirit in sciences seems to be cause and effect of objectification of the Woman, Nature, Other, Knowledge and Reason or Idea or Dharma. When one has become all or creator has become creation, the plurality and difference is transitory which appear to have been assigned the permanent value. The transitory value has been given permanence, while the permanent has been dislodged from discourse, conveniently tucked to the abstract. This seems to be real narrative of the crisis of the world. -/- . (shrink)

This volume explores the relationship between experience and theory in Indian social sciences in the form of a dialogue. It focuses on questions of Dalit experience and untouchability. While Gopal Guru argues that only those who have lived lives as subalterns can represent them accurately, Sundar Sarukkai feels that people located outside the community can also represent them. Thematically divided into five sections, the first discusses the problems associated with theory in the social sciences in the Indian context. The (...) next makes inquiries into the nature of personal and collective experience. The third explores the larger connection between ethics and theory in India, both in the natural and social sciences. The fourth examines the ontological and epistemological nature of experience itself and the politics of experience, and the last focuses on the experience and theory of experience in India. The authors invoke the image of a cracked mirror to suggest a more complex and distorted relation between experience and theory."--Publisher's website. (shrink)

Michael Otsuka sets out to vindicate left-libertarianism, a political philosophy which combines stringent rights of control over one's own mind, body, and life with egalitarian rights of ownership of the world. Otsuka reclaims the ideas of John Locke from the libertarian Right, and shows how his Second Treatise of Government provides the theoretical foundations for a left-libertarianism which is both more libertarian and more egalitarian than the Kantian liberal theories of John Rawls and Thomas Nagel. Otsuka's libertarianism is founded on (...) a right of self-ownership. Here he is at one with 'right-wing' libertarians, such as Robert Nozick, in endorsing the highly anti-paternalistic and anti-moralistic implications of this right. But he parts company with these libertarians in so far as he argues that such a right is compatible with a fully egalitarian principle of equal opportunity for welfare. In embracing this principle, his own version of left-libertarianism is more strongly egalitarian than others which are currently well known. Otsuka argues that an account of legitimate political authority based upon the free consent of each is strengthened by the adoption of such an egalitarian principle. He defends a pluralistic, decentralized ideal of political society as a confederation of voluntary associations. Part I of Libertarianism without Inequality concerns the natural rights of property in oneself and the world. Part II considers the natural rights of punishment and self-defence that form the basis for the government's authority to legislate and punish. Part III explores the nature and limits of the powers of governments which are created by the consensual transfer of the natural rights of the governed. Libertarianism without Inequality is a book which everyone interested in political theory should read. (shrink)

This paper examines the implications of certain social psychological experiments for moral theory—specifically, for virtue theory. Gilbert Harman and John Doris have recently argued that the empirical evidence offered by ‘situationism’ demonstrates that there is no such thing as a character trait. I dispute this conclusion. My discussion focuses on the proper interpretation of the experimental data—the data themselves I grant for the sake of argument. I develop three criticisms of the anti-trait position. Of these, the central criticism concerns three (...) respects in which the experimental situations employed to test someone's character trait are inadequate to the task. First, they do not take account of the subject's own construal of the situation. Second, they include behaviour that is only marginally relevant to the trait in question. Third, they disregard the normative character of the responses in which virtue theory is interested. Given these inadequacies in situationism's operationalized conception of a ‘character trait’, I argue that situationism does not really address the proposition that people have ‘character traits’, properly understood. A fortiori, the social psychological evidence does not refute that proposition. I also adduce some limited experimental evidence in favour of character traits and distil two lessons we can nevertheless learn from situationism. (shrink)

A pioneering work in the field of political and moral theory, this volume explores the complex and varied meanings, contexts, forms, and languages of humiliation within an interdisciplinary framework.

Sociologists and philosophers have long pointed out that the idea of the social has always been ambiguously defined. This book is an exploration of the nature of this 'social'; it argues that our definition of sociality is influenced largely by our everyday lives, the institutions we are part of, and the relationships we build-all of these experiences catalyse the way we see the social world and shape how we act in it.

A novel approach to the crucial role emotion plays in virtuous action What must a person be like to possess a virtue in full measure? What sort of psychological constitution does one need to be an exemplar of compassion, say, or of courage? Focusing on these two examples, Emotion and Virtue ingeniously argues that certain emotion traits play an indispensable role in virtue. With exemplars of compassion, for instance, this role is played by a modified sympathy trait, which is central (...) to enabling these exemplars to be reliably correct judges of the compassionate thing to do in various practical situations. Indeed, according to Gopal Sreenivasan, the virtue of compassion is, in a sense, a modified sympathy trait, just as courage is a modified fear trait. While he upholds the traditional definition of virtue as a species of character trait, Sreenivasan discards other traditional precepts. For example, he rejects the unity of the virtues and raises new questions about when virtue should be taught. Unlike orthodox virtue ethics, moreover, his account does not aspire to rival consequentialism and deontology. Instead Sreenivasan repudiates the ambitions of virtue imperialism. Emotion and Virtue makes significant contributions to moral psychology and the theory of virtue alike. (shrink)

Quelle est la signification historique de l’implosion du néolibéralisme, moins de vingt ans après l’effondrement de l’Union soviétique? Une hypothèse troublante vient à l’esprit. On sait que l’URSS est parvenue au sommet de sa puissance dans les années 1970, juste avant de s’enfoncer dans une spirale de retranchement, de dérive et d’effondrement. Se pourrait-il, par une de ces bonnes vieilles ironies de l’histoire, qu’un revers de fortune comparable guette la superpuissance occidentale? Après tout, on peut voir une forme d’unité des (...) contraires dans l’opposition entre un capitalisme débridé et les économies industrielles planifiées de l’ancien COMECON. La dépression qui s’annonce révélera peut-être que les statistiques économiques nationales de la période de l’économie des bulles étaient des fictions assez comparables à celles qui avaient cours dans le vieux système soviétique. (shrink)

This study examined whether transformational leadership would be affected by the predominance of a particular guna in a leader and his or her belief in Karma Yoga. An experiment was conducted using a sample of 110 marketing executives working in a financial services firm in eastern India. A 2 × 2 + 1 factorial design was used to manipulate the three gunas and Karma Yoga. Sattva and rajas were crossed with Karma Yoga to produce four cells, with tamas being the (...) fifth cell. Transformational leadership was the measured variable. Results show that compared to rajas, sattva enhances transformational leadership, whereas tamas reduces it. Further, Karma Yoga enhances transformational leadership when the leader is sattvic, but does not enhance transformational leadership when the leader is rajasic. Results imply that organizations interested in enhancing transformational leadership should develop s attvic qualities in their managers and encourage them to be duty oriented. (shrink)

One widely accepted way of justifying universal access to health care is to argue that access to health care is necessary to ensure health, which is necessary to provide equality of opportunity. But the evidence on the social determinants of health undermines this argument.

This paper offers four arguments against a moral human right to health, two denying that the right exists and two denying that it would be very useful (even if it did exist). One of my sceptical arguments is familiar, while the other is not.The unfamiliar argument is an argument from the nature of health. Given a realistic view of health production, a dilemma arises for the human right to health. Either a state's moral duty to preserve the health of its (...) citizens is not justifiably aligned in relation to the causes of health or it does not correlate with the human right to health. It follows that no one holds a justified moral human right to health against the state.Education and herd immunity against infectious disease both illustrate this dilemma. In the former case, the state's moral duty correlates with the human right to health only if it demands too much from a cause of health; and in the latter, only if it demands nothing from a cause of health (that is, too little). (shrink)

This article investigates the scope of a firm's enterprise strategy which is defined as the range of stakeholder satisfaction realized by a firm at a particular point in time. We found that prior profitability and several of the firm's grand strategies were correlated with enterprise strategy scope. Furthermore, environmental munificence was found to have a curvilinear relationship with enterprise strategy. Overall, this study refined and extended our understanding of enterprise strategy and stakeholder management.