This study examines the participation and interaction of relevant individuals in the process of developing an accounting standard for South Korea’s emission trading scheme (ETS). Despite the enormous accounting implications of such schemes, there is a paucity of research on the development and application of ETS accounting. Ulrich Beck’s and Anthony Giddens’s risk society framework is utilised to scrutinise the process of setting accounting standards—from the agenda-setting stage all the way to the final publication of the standard. In this case (...) study, we take an interpretive approach in analysing the rich data collected through face-to-face interviews with prominent standard-setters, accounting experts and representatives of industry and government. Participant observation and relevant documents were also considered. The findings highlight the political nature of accounting standard-setting and identify the risks and responsibilities of the key agents in the process along with the means of sub-political action taken to influence decisions. We reveal that the agents involved in standard-setting attempted to balance their anthropocentric priorities with ecocentric responsibilities and prioritised the production of a standard with minimal impact on economic, reputational, and operational risk. Having authority as a standard-setter, referring frequently to precedents and, perhaps most importantly, engaging actively with the stakeholders throughout the process seem to have contributed to a widely accepted standard, which can serve as a benchmark for future attempts to factor in ETSs. (shrink)

A variety of stakeholders including investors, corporate managers, customers, suppliers, employees, researchers, and government policy makers have long been interested in the relationship between the financial performance of a corporation and its commitment to business ethics. As a subject of research, the relations between business ethics and corporate valuation has yet to be thoroughly quantified and investigated. This article is an effort to amend this inadequacy by demonstrating a statistically significant association between ethical commitment and corporate valuation measures. Consistent with (...) anecdotal evidence, we have found a significant association between the ethical commitment of Korean companies and their valuation on the Korean stock market. However, the result reveals that the association between ethical commitment and financial performance is not significantly supported. (shrink)

Based on a questionnaire survey, this study is the first to systematically focus on Mongolian managers' perceptions of BE. As such, this paper (1) examines Mongolian managers' views of BE, (2) compares BE perceptions in Mongolia to those in the USA, Japan and Korea, and (3) identifies differences and similarities between the four national groups. We find that unethical practices exist and are quite common in Mongolia, where nearly half of the respondents have experienced ethical conflicts during their career. These (...) conflicts mostly arose in relation to respondents' superiors and colleagues and were related to fairness or discrimination. The results indicate that in their (un)ethical decision-making, Mongolian mangers are situational, but also place importance on the behaviour of their superiors. Finally, situational questions revealed that unlike respondents from the other three national groups, Mongolian managers do not see a significant difference between their own BE attitudes and those of an average manager. (shrink)

This study examines the relationship between corporate commitment to business ethics and financial reporting quality. We posit that companies with a higher level of ethical commitment exhibit better quality financial reporting than those with a lower level of ethical commitment. Consistent with our prediction, we find that companies with a higher level of ethical commitment are engaged in less earnings management, report earnings more conservatively, and predict future cash flows more accurately than those with a lower level of ethical commitment. (...) We also find that corporate commitment to business ethics has perpetuating effects on future financial reporting quality. (shrink)

John F. Henry is an eminent economist who has made important contributions to heterodox economics drawing on Adam Smith, Karl Marx, Thorstein Veblen, and John Maynard Keynes. His historical approach offers radical insights into the evolution of ideas (ideologies and theories) giving rise to and/or induced by the changes in capitalist society. Essays collected in this festschrift not only evaluate John Henry's contributions in connection to Marx's and Veblen's theories, but also apply them to the socio-economic issues in the 21st (...) century. In Part I leading heterodox economists in the traditions of Marxism, Post Keynesianism, and Institutionalism critically examine Marx's and Veblen's theoretical frameworks (and their connections to each other) that have become the foundations of heterodox economics. Chapters in Part II showcase alternative theoretical explanations inspired by Marx, Veblen, and Henry. Topics in this Part include financial crisis, financialization, capital accumulation, economics teaching, and the historical relationship between money and class society. Part III is devoted to John Henry's heterodox economics encapsulated in his "farewell" lecture, interview, and bibliography. Essays in this book, individually and collectively, make an important point that the history of economic thought (or historical analysis of economic theory and policy) is an integral part of developing heterodox economics as an alternative theoretical framework. Anyone who is troubled by the recurring failure of capitalism as well as mainstream economics will find this book well worth reading. (shrink)

A variety of stakeholders have long been interested in the factors that are related to firm valuation. This article investigates why companies with more comprehensive corporate governance (CG) have a value premium over companies with less comprehensive CG. We posit and find that the cost of equity capital (COC) decreases with the strength of CG, suggesting that the value premium stems from the lower COC for more comprehensive CG. We also find that the COC is lower for companies with strong (...) commitment to business ethics (BE) than for those with weak commitment to BE and that the beneficial effect of CG on the COC is more pronounced for companies with weak commitment to BE than for those with strong commitment to BE. Companies with more comprehensive CG tend to exhibit strong commitment to BE, but the beneficial effect of corporate ethical commitment is not completely subsumed by CG. Our results suggest that companies could lower their cost of equity capital and increase firm value by adopting more comprehensive CG practices and committing to higher standards of BE. (shrink)

This study investigates the effects of cultural orientation and the degree of disdain for robots on the preferred conversational styles in human-to-robot interactions. 203 participants self-reported on questionnaires through a computer-based online survey. The two requesting situations were intended to simulate the participants' interactions with humanoid social robots through an Internet video-phone medium of communication. Structural equation modeling was performed to examine the mediating role of mechanistic disdain between multicultural orientation and conversational constraints. The findings reveal that between the two (...) dimensions of multicultural orientation, only open-mindedness inversely influences mechanistic disdain. Mechanistic disdain, in turn, negatively affects three face-related conversational constraints, thereby leading to a lesser concern for robots' feelings, for minimizing impositions on robots, and for avoiding robots' negative evaluations. The implications of our findings on humans' relations with virtual robot entities and on the future development of humanoid robots are discussed. (shrink)

This study investigates the effects of cultural orientation and the degree of disdain for robots on the preferred conversational styles in human-to-robot interactions. 203 participants self-reported on questionnaires through a computer-based online survey. The two requesting situations were intended to simulate the participants’ interactions with humanoid social robots through an Internet video-phone medium of communication. Structural equation modeling was performed to examine the mediating role of mechanistic disdain between multicultural orientation and conversational constraints. The findings reveal that between the two (...) dimensions of multicultural orientation, only open-mindedness inversely influences mechanistic disdain. Mechanistic disdain, in turn, negatively affects three face-related conversational constraints, thereby leading to a lesser concern for robots’ feelings, for minimizing impositions on robots, and for avoiding robots’ negative evaluations. The implications of our findings on humans’ relations with virtual robot entities and on the future development of humanoid robots are discussed. (shrink)

Background:While nursing ethics education is commonly provided for undergraduate nursing students in most nursing colleges, consensus on the content and teaching modules for these ethics courses have still not been established.Objectives:This study aimed to examine the effects of nursing ethics education on the moral sensitivity and critical thinking disposition of nursing students in Korea.Research design:A one-group pre- and post-test design was used. Moral sensitivity was measured using the Korean version of the Moral Sensitivity Questionnaire. Critical thinking disposition was measured using (...) the Critical Thinking Disposition Questionnaire.Participants and research context:Participants were 70 undergraduate nursing students who were attending a university located in Seoul, Korea. The nursing ethics education was provided 7 times, from September to December 2010, and comprised 90-min sessions each week.Ethical considerations:This study was conducted in accordance with the Human Subject Research Ethics Committee guidelines.Findings:After the education, the levels for the patient-oriented care, a sub-domain of moral sensitivity, and inquisitiveness, a sub-domain of critical thinking disposition, significantly improved. There were no changes in overall scores for moral sensitivity and critical thinking disposition. There were significant positive correlations between moral sensitivity and critical thinking disposition both pre- and post-intervention.Conclusion:These results reflect the need for ongoing efforts to develop innovative content, structure, and instructional methods for undergraduate nursing ethics education programs. (shrink)

This study examined how leaders’ moral competence is linked to employees’ task performance and organizational citizenship behaviors. Based on a sample of 102 employee–supervisor pairs from seven organizations in South Korea, the results of this study revealed that leaders’ moral competence was positively associated with employees’ task performance and organizational citizenship behaviors toward leaders (OCBS). As expected, employees’ psychological empowerment partially mediated the relationship between leaders’ moral competence and employees’ task performance and OCBS. Furthermore, person–supervisor fit (PS fit) moderated the (...) relationship between leaders’ moral competence and employees’ psychological empowerment such that the relationships became stronger for individuals higher rather than lower in PS fit. (shrink)

This article tracks Corporate Social Responsibility (CSR) as an emergent organizational process that places the employee at its center. Predominantly, research on CSR tends to focus on external pressures and outcomes leading to a neglect of CSR as a dynamic and developing process that relies on the involvement of the employee as a major stakeholder in its co-creation and implementation. Utilizing case study data drawn from a study of a large multinational energy company, we explore how management relies on employees' (...) interaction with CSR as the process of initiation → implementation → maturation develops. Employee involvement grows from a minor element in the CSR initiation stage to a vital contributory factor in CSR's success in the later stages of the process. The article offers new insights into a processual and interactional approach to CSR that accounts for the actions of different actors involved at each stage. Most unusually, it also recognizes the dual impact this has on broader issues concerning the management and involvement of employees through CSR actions, and gaining legitimacy in the eyes of not only external stakeholders but internal too. (shrink)

We discuss the interrelations between BCK-algebras and posets with difference. Applications are given to bounded commutative BCK-algebras, difference posets, MV-algebras, quantum MV-algebras and orthoalgebras.

This study integrates theories of diffusion and social identity to conceptualize the diffusion of Sustainability Report as a result of a firm’s identification with its reference groups. Specifically, we first hypothesize four different sources of external stakeholder pressures driving the diffusion. Next, we argue that the source of external stakeholder pressures has a differential effect on the adoption of SR for firms that claim their identity on sustainability management. For firms with organizational identity claims, in-group stakeholder pressure will amplify whereas (...) out-group stakeholder pressure will dampen the adoption. We test our theory using an event-history analysis of 675 publicly traded firms in Korea during the period of 2003–2010. The results show that all four sources of external pressure serve as mechanisms through which SR spread in Korea. More importantly, we find support for the moderating role of organizational identity claims in the effect of external pressures. We discuss how organizational identity matters in the diffusion of corporate social initiatives along with implications for policy makers. (shrink)

Integrative social contracts theory is a novel approach to normative questions and has been widely evaluated, discussed, and applied by academics and practitioners alike. While the "I" in ISCT leads the title, it has not received the analytical attention it deserves, especially since the "integrative" component in ISCT is multifaceted and at the conceptual core of the theory. In this paper we therefore take a closer look at two facets of integration. First, we examine the normative integration that takes place (...) in ISCT. For our analysis we draw on theories of legitimacy and obligation. Second, given that empirical inquiry is an important part of the normative integration, we take a closer look at how research that has applied or used ISCT has embraced the empirical components of the theory. This analysis of the normative–empirical integration focuses on problems and realities of empirical inquiry in ISCT. (shrink)

Businesses increasingly rely on algorithms that are data-trained sets of decision rules (i.e., the output of the processes often called “machine learning”) and implement decisions with little or no human intermediation. In this article, we provide a philosophical foundation for the claim that algorithmic decision-making gives rise to a “right to explanation.” It is often said that, in the digital era, informed consent is dead. This negative view originates from a rigid understanding that presumes informed consent is a static and (...) complete transaction. Such a view is insufficient, especially when data are used in a secondary, noncontextual, and unpredictable manner—which is the inescapable nature of advanced artificial intelligence systems. We submit that an alternative view of informed consent—as an assurance of trust for incomplete transactions—allows for an understanding of why the rationale of informed consent already entails a right to ex post explanation. (shrink)

We offer a precautionary account of why business managers should proactively rethink about what kinds of automation firms ought to implement, by exploring two challenges that automation will potentially pose. We engage the current debate concerning whether life without work opportunities will incur a meaning crisis, offering an argument in favor of the position that if technological unemployment occurs, the machine age may be a structurally limited condition for many without work opportunities to have or add meaning to their lives. (...) We term this the axiological challenge. This challenge, if it turns out to be persuasive, leads to a second challenge, to which managers should pay special attention: the teleological challenge, a topic especially relevant to the broad literature about corporate purpose and governance. We argue that both the shareholder profit-maximization model and its major alternative, stakeholder theory, are insufficient to address the meaning crisis. Unless rebutted, the two challenges compel business leaders to proactively rethink the purpose of business for future society. Otherwise, businesses will be contributors to a major ethical crisis and societal externality in the coming society. (shrink)

ABSTRACT:We discuss workers’ dignity in hierarchical organizations. First, we explain why a conflict exists between high-ranking individuals’ authority and low-ranking individuals’ dignity. Then, we ask whether there is any justification that reconciles hierarchical authority with the dignity of workers. We advance a communitarian justification for hierarchical authority, drawing upon Confucianism, which provides that workers can justifiably accept hierarchical authority when it enables a certain type of social functioning critical for the good life of workers and other involved parties. The Confucian (...) communitarian perspective shows that promoting workers’ good life or well-being is an important condition for protecting their dignity. (shrink)

Volume 19, Issue 10, October 2019, Page 57-59.