We aggregate different dimensions of corporate social responsibility (CSR) activities following the stakeholder framework proposed in Clarkson (Acad Manag Rev 20(1), 92–117, 1995) and present consistent evidence that CSR strengths targeting different stakeholders have their unique impact on firm risk and financial performance. Institutional CSR activities that target secondary stakeholders are negatively associated with firm risk, measured by total risk and systematic risk. Technical CSR that target primary stakeholders are positively associated with firm financial performance, measured by Tobin’s Q, ROA, (...) and cash flow returns. Our results, based on a sample of S&P 500 component firms over the period of 1995–2009, are consistent with the risk management view of “altruistic” CSR activities and with the stakeholder salience theory. We also show that the impact of CSR activities on risk varies with the ethical climate, as proved in our subsample analyses on pre- and post-Sarbanes–Oxley periods. Our empirical analyses mitigate possible omitted variables and endogeneity concerns that are often overlooked in previous research. Our findings are robust to alternative CSR measures, to alternative risk and performance measures, and to alternative estimation methods. (shrink)

In this article, we propose that giving in cash and non-cash differ in their relation with the giving firm’s future corporate financial performance and only cash giving is associated with future CFP. Using a novel dataset from ASSET4 that differentiates corporate giving over a sample period of 2002–2012, we examine three competing hypotheses: agency cost hypothesis that cash giving reflects agency cost and destroys value for shareholders, investment hypothesis that cash giving is an investment by management that aims for better (...) future return, and information hypothesis that cash giving has informational value to shareholders as cash is a critical resource at a firm and giving is a decision by managers who are insiders. We find that indeed, only cash giving is positively associated with future CFP and firm value, measured by Fama–French five-factor abnormal risk-adjusted stock returns, future return on assets, and Tobin’s Q. In addition, we find that the positive association exists only between excess, i.e., unexpected, but not expected cash giving and future CFP. Our empirical findings support the information hypothesis, but neither the agency hypothesis nor the investment hypothesis, and are robust to a number of endogeneity tests, including orthogonalized cash giving, instrumental variable regression using geography-based instruments, and propensity score matching. Furthermore, we show that the positive association between future CFP and unexpected cash giving is only pronounced at firms with good governance and relatively higher sales growth where agency problems are less likely, and at firms with no alternative mechanisms to demonstrate the strength of cash flow. Additionally, we do not find evidence that suggests in-kind giving to possess any informational value. (shrink)

ABSTRACT Early modern alchemy studied both matter and life, much like today's life sciences. What material life is and how it comes about intrigued alchemists. Many found the answer by assuming a vital principle that served as the source and cause of life. Recent literature has presented important cases in which vitalist formulations incorporated corpuscular or mechanical elements that were characteristic of the New Science and other cases in which vitalist thinking influenced important figures of the Scientific Revolution. Not merely (...) speculative, vitalist ideas also motivated chymical practice. The unity of life science and material science that is found in many formulations of Renaissance alchemy disintegrated in Georg Ernst Stahl's version of post-Cartesian vitalism. (shrink)

This paper examines Georg Ernst Stahl's first book, the Zymotechnia Fundamentalis, in the context of contemporary natural philosophy and the author's career. I argue that the Zymotechnia was a mechanical theory of fermentation written consciously against the influential "fermentational program" of Joan Baptista van Helmont and especially Thomas Willis. Stahl's theory of fermentation introduced his first conception of phlogiston, which was in part a corpuscular transformation of the Paracelsian sulphur principle. Meanwhile some assumptions underlying this theory, such as the composition (...) of matter, the absolute passivity of matter and the "passions" of sulphur, reveal the combined scholastic and mechanistic character of Stahl's natural philosophy. In the conclusion I show that Stahl's theory of fermentation undermined the old fermentational program and paved the way for his dualist vitalism. (shrink)

Online reading is developing at an increasingly rapid rate, but the debate concerning whether learning is more effective when using hypertexts than when using traditional linear texts is still persistent. In addition, several researchers stated that online reading comprehension always starts with a question, but little empirical evidence has been gathered to investigate this claim. This study used eye-tracking technology and retrospective think aloud technique to examine online reading behaviors of fifth-graders ( N = 50). The participants were asked to (...) read four texts on the website. The present study employed a three-way mixed design: 2 (reading ability: high vs. low) × 2 (reading goals: with vs. without) × 2 (text types: hypertext vs. linear text). The dependent variables were eye-movement indices and the frequencies of using online reading strategy. The results show that fifth-graders, irrespective of their reading ability, found it difficult to navigate the non-linear structure of hypertexts when searching for and integrating information. When they read with goals, they adjusted their reading speed and the focus of their attention. Their offline reading ability also influenced their online reading performance. These results suggest that online reading skills and strategies have to be taught in order to enhance the online reading abilities of elementary-school students. (shrink)

Evidence supports predictive roles of non-social smartphone use for smartphone addiction, but the relationship of social smartphone use and smartphone addiction is unclear. This study explored whether social smartphone use has a double-edged impact on smartphone addiction. Using data from a sample of 909 Chinese undergraduates, we tested a parallel mediation model that considered online social support and realistic social support as mediators. As predicted, social smartphone use weakened smartphone addiction through realistic social support and contributed to smartphone addiction through (...) online social support. Moreover, we tested the moderating role of agreeableness in the mediation path of online social support. Agreeableness only moderated the indirect effects. Specifically, the predictive effects of online social support on smartphone addiction was greater for lower rather than higher agreeableness. The results suggest that social needs play an important role in the formation of smartphone addiction. Several limitations and implications are also discussed herein. (shrink)

Balancing self‐renewal and differentiation of stem cells is an important issue in stem cell and cancer biology. Recently, the Drosophila neuroblast (NB), neural stem cell has emerged as an excellent model for stem cell self‐renewal and tumorigenesis. It is of great interest to understand how defects in the asymmetric division of neural stem cells lead to tumor formation. Here, we review recent advances in asymmetric division and the self‐renewal control of Drosophila NBs. We summarize molecular mechanisms of asymmetric cell division (...) and discuss how the defects in asymmetric division lead to tumor formation. Gain‐of‐function or loss‐of‐function of various proteins in the asymmetric machinery can drive NB overgrowth and tumor formation. These proteins control either the asymmetric protein localization or mitotic spindle orientation of NBs. We also discuss other mechanisms of brain tumor suppression that are beyond the control of asymmetric division. (shrink)

The modem age reflects a pluralistic mentality of norms and regularities assuming a dualistic polar character. Man lives in this dualistically conditioned time and space--topos gaios (earthly sphere). In ancient times, attempts were made to transcend this situation via distinct temple cultures involving colorful sacrificial systems. Eventually, there was a transition from empirical temple cultures to mental and metaphysical ones involving laws, norms, and ascetic practices. However, the human heart, the source of all contradictions and cravings, remained unchanged. There is (...) a perennial impetus to overcome human bondage to all the laws of dualistic world structures and return to the original primeval state of the universe-topos ouranios (heavenly sphere). Yet there is no bridge between the earthly and heavenly spheres other than Jesus Christ Who was the first to proclaim the arrival of the Kingdom of Heaven. Christ removed the barrier between "above" and "below" by pacifying the wrath of the transcendent, and introducing the heavenly sphere to man whose heart is opened by the Holy Spirit and cleansed by grace. This represents Christianity's conceptual transformation. (shrink)

This article examines two early modern models of dissertation authorship that both relied on extensive collaboration between the degree candidate and his supervisor. The dissertation conducted on the traditional model, practiced until the eighteenth century at German universities, was a joint product of the supervisor, who prepared the thesis in writing, and the degree candidate, who defended it in the oral disputation. The two collaborators shared the credit for a successfully defended thesis in different forms: right for public recognition and (...) rights to use and reproduce the thesis. Instead of sharing the credit as two equal partners, each of them took advantage of his credit in ways that benefited his status. In the model that Albrecht von Haller introduced at Göttingen, the supervisor provided the student with a laboratory and experimental training, while the degree candidate wrote a thesis by himself based on the experiments he carried out, and defended the thesis without the supervisor chairing the disputation. The Haller model reveals two new elements that heralded the development of modern scientific education: divisibility of laboratory labor between the student’s experimentation and the research program to which it belongs; and feasibility of the requirement of experimental work in return for the exclusive authorship of the doctoral thesis. (shrink)

Social media users have increased rapidly in recent years; however, most are “silent users” who rarely share information online. To maintain social media companies’ stable operation and development, this research explored the effects of flow experience and identity formation on users’ intrinsic motivation to facilitate aggressive, spontaneous, and habitual participation in virtual communities. A total of 487 valid questionnaires were collected and underwent regression analysis. The results revealed that all three intrinsic motivations had a significant impact on social media participation, (...) with social interaction exerting the strongest influence. Flow experience and identification had significant, partial mediating effects on the relationship between motivation and participation. Several suggestions were provided based on the results to help social media enterprises increase user participation. It is hoped that this research could facilitate in transforming users into habitual participants to keep the operations of the virtual community stable and enduring. (shrink)

In an era of rising social awareness, both academics and practitioners have been concerned about the effectiveness of pro-social consumer influence strategies. The main assumption here is that for social marketing to succeed one must first understand the factors underlying pro-social consumer behavior. Firstly, drawing on two dimensions the authors first identify four types of social behavior. Next, the model describes social behavior as a result of preceding social behavior motivation and actual social behavior intention. Norms and economic evaluation have (...) an impact on social behavior motivation, which in turn influences social behavior intention, eventually leading to actual social behavior. Actual control factors, such as the availability of resources and opportunities, decide whether social behavior intention can really translate into actual social behavior. Finally, authors propose message strategies for each type of social behavior. (shrink)