Scientific research aims to use reliable methods to produce generalizable new knowledge in order to understand the human condition and maximize human potential. The sanctity accorded to scientific research has been violated by numerous instances of research fraud, as well as deceptive and conflicted research that have seriously harmed people, subverted the evidence-base, wasted valuable resources, and undermined public trust. This deception by individuals has been fostered by the unrealistic expectations of society; facilitated by the complicity of institutions and organisations; (...) and sanctioned by the inaction of supposed gate-keepers. Re-defining misconduct as occurring on a continuum from irresponsible to fraudulent is the first step in confronting this inconvenient truth. Implementing and evaluating multiple strategies targeting systems and individuals that promote the responsible conduct of research, rather than merely exposing serious instances of misconduct by individuals, is urgently required to restore faith in the aspirations, integrity, and results of scientific research. (shrink)

The ethical controversies raised by an industry-sponsored placebo-controlled trial of Risperidone for mania, conducted across eight sites in India, provide opportunities for dialogue, reflection and interdisciplinary consensus building on the processes and validity of the methods of evaluating the efficacy of interventions in health care. This commentary contextualises the debate in considerations of the evolution of morality and double standards. It is suggested that a productive interpretation of this unfolding drama should appreciate the folly of dissociating ethical standards in routine (...) health care from those used in health research, the culturally and economically grounded preferences in research priority setting, and the choice of ethical principles underlying participation in, and conduct of, clinical research. A broader discussion of ethical problems in clinical trials which includes questions about the evidence that informs ethical opinion is required to prevent harm to participants and subsequent recipients of health care and to restore confidence in the methods and the results of research in health care. (shrink)

This paper investigates the effect of corporate social responsibility (CSR) on firm value and seeks to identify the source of that value, by disaggregating the effects on forecasted profitability, long-term growth and the cost of capital. The study explores the possible risk (reducing) effects of CSR and their implications for financial measures of performance. For individual dimensions of CSR, in general strengths are positively valued and concerns are negatively valued, although the effect is not universal across all dimensions of CSR. (...) We show that these valuation effects are principally driven by CSR performance associated with better long run growth prospects, with an additional minor contribution made by a lower cost of equity capital. (shrink)