This article examines the impact of the prevailing state ownership in the Chinese stock market on corporate governance and the financial regulatory system, respectively, as the internal and external monitoring mechanisms to deter corporate fraud and protect investors. In line with the literature that state ownership exaggerates the agency problem, we find that the retained state ownership in privatised firms increases the incidence of regulatory enforcements against fraud. For the state-owned enterprises (SOEs), however, larger state ownership is associated with a (...) lower incidence of enforcement actions. This is attributed to the mutual political affiliation of the fraudulent SOEs and the regulatory commission. A new regulation "Solutions for Listed Firm Checks" promulgated in March 2001 has mitigated this effect by empowering the regulatory commission to increase the severity of regulatory conditions. Our evidence confirms the improvement in the regulatory environment and investor protection in the Chinese stock market brought about by the regulatory reform and development. (shrink)
Integrity is often conceived as a heroic ideal: the person of integrity sticks to what they believe is right, regardless of the consequences. In this article, I defend a conception of ordinary integrity, for people who either do not desire or are unable to be moral martyrs. Drawing on the writings of seventeenth century thinker Huang Zongxi, I propose refocussing attention away from an abstract ideal of integrity, to instead consider the institutional conditions whereby it is made safe not (...) to be servile. (shrink)
Huang, Chun-chieh, Konfuzianismus: Kontinuität und Entwicklung: Studien zur chinesischen Geistesgeschichte (Confucianism: Continuity and Development: Studies in Chinese Intellectual History), Edited and translated by Stephan Schmidt Content Type Journal Article DOI 10.1007/s11712-010-9191-0 Authors Heiner Roetz, Faculty of East Asian Studies, Ruhr University, 44780 Bochum, Germany Journal Dao Online ISSN 1569-7274 Print ISSN 1540-3009 Journal Volume Volume 9 Journal Issue Volume 9, Number 4.
Religious beliefs have often been taken either as absolutely foundational to all others or as ultimately founded on something else. This essay starts with an endorsement of the contemporary critique of foundationalism but sets its task as to search for the foundation of religious belief after foundationalism. In its third and main part, it argues for a Wittgensteinian reflective equilibrium as such a foundation. In this reflective equilibrium, religious beliefs are no more and no less foundational to, or founded by, (...) other beliefs and practices. To appreciate this perspective better, I argue,in the first part, that Kai Neilsen's charge of Wittgenstein as a fideist is not accurate, and, in the second part, that D. Z. Phillips's fideistic contentions are unWittgensteinian. (shrink)
In this postmodern era, God-talk is facing serious challenges. Is it still possible to have a meaningful concept of God after the demise of metaphysical realism? How can we make sense of the idea of absolute transcendence in a secularized world? In what sense can we still believe something as divine revelation when foundationalism is no longer taken for granted? While some believe that we can go about our old theological business as usual, others have entirely given up on the (...) hope of any intelligible theology. It is my hunch, however, that there are ways of doing theology that can take our postmodern conditions into serious account. In this article, I shall argue that, however anachronistic it might seem, Hegel's God-talk, seen through the lens of Heidegger's understanding of Being, provides one such possibility. (shrink)
Yong Huang has recently claimed that after the demise of foundationalism, philosophy and theology can turn to Ludwig Wittgenstein's non-foundationalist or coherentist religious epistemology where, it is said, religious beliefs are justified by a 'reflective equilibrium' with other kinds of beliefs, with action, and with different 'forms of life'. I argue that there are very good reasons to reject this reading of Wittgenstein: not only unsupported, it is seriously mistaken. Once the epistemological terms of the debate are properly understood, (...) the evidence indicates that Wittgenstein's view of religious beliefs is a form of foundationalism, not coherentism. (shrink)
Following the financial crisis and recent recession, the center of gravity of global economic growth and competitiveness is shifting toward emerging economies. As a leading and increasingly influential emerging economy, China is currently attracting the attention of academics, practitioners, and policy makers. There has been an increase in research interest in and publications on issues relating to China within high-quality international academic journals. We therefore organized a special issue conference in conjunction with the Journal of Business Ethics in Lhasa, Tibet, (...) on May 19–20, 2014, on Business Ethics in Greater China: Past, Present and Future. The papers for the special issue focused on the intersection of ethics and finance, and fit within one of the three themes: environment and sustainability, corporate social responsibility, and fraud. Within these themes, issues of intellectual capital protection, gender equality, political connections, regional development, investor protection, corporate stewardship, trust and corruption, and corporate transparency each play a significant role. In this paper, we survey these studies and the related literature to provide a comprehensive coverage of business ethics and finance issues that affect China. (shrink)
Biomedical moral enhancement, or BME for short, aims to improve people’s moral behaviors through augmenting, via biomedical means, their virtuous dispositions such as sympathy, honesty, courage, or generosity. Recently, it has been challenged, on particularist grounds, however, that the manifestations of the virtuous dispositions can be morally wrong. For instance, being generous in terrorist financing is one such case. If so, biomedical moral enhancement, by enhancing people’s virtues, might turn out to be counterproductive in terms of people’s moral behaviors. In (...) this paper, we argue, via a comparison with moral education, that the case for the practice of biomedical moral enhancement is not weakened by the particularists’ stress on the variable moral statuses of the manifestations of our virtues. The real challenge from the particularists, we argue, lies elsewhere. It is that practical wisdom, being essentially context-sensitive, cannot be enhanced via biomedical means. On the basis of this, we further argue that BME ought to be used with great caution, for it may wrongly enhance, for instance, a terrorist financier’s generosity, a robber’s courage, or an undercover detective’s honesty. Finally, we sketch how boundaries can be set on the use of BME, and address some potential objections to our position. (shrink)
This paper approaches Husserl’s analysis of time-consciousness from a mereological perspective. Taking as inspiration Bergson’s idea that pure durée is a multiplicity of interpenetration, I will show, from within Husserlian phenomenology, that the absolute flow can indeed be described as a whole of interpenetrating parts. This mereological perspective will inform my re-consideration of the much-discussed issue of Husserl’s self-criticism concerning the schema of content and apprehension. It will also reveal a fundamental similarity between Husserl’s conception of the absolute flow and (...) Sartre’s conception of lived temporality. This paper consists of four sections. Section 2 presents the basic elements of Husserl’s mereology. Section 3 introduces the difficulty encountered by Husserl’s early account of time that makes use of the schema. I will examine Barry Dainton’s criticism of Husserl’s theory of time-consciousness against the background of the older debate between Meinong and Stern, a debate that has informed Husserl’s own account. Section 4 distinguishes two common criticisms of the schema from Husserl’s own self-criticism, which is in turn divided into two steps. It is shown how the second step of this self-criticism implies the interpenetration of the absolute flow and responds to Dainton’s criticism. Finally, Sect. 5 concludes with some comparative remarks. I will show how Husserl’s notion of absolute flow, as mereologically interpreted, anticipates Sartre’s conception of consciousness as self-transcendence, as well as how it accommodates the apparently conflicting mereological intuitions of Aristotle and Bergson. (shrink)
This volume features in-depth philosophical analyses of major Japanese Confucian philosophers as well as themes and topics addressed in their writings. Its main historical focus is the early-modern period (1600-1868), when much original Confucian philosophizing occurred. Written by scholars from the United States, Canada, Europe, Australia, Japan, and China and eclectic in methodology and disciplinary approach, this anthology seeks to advance new multidimensional studies of Japanese Confucian philosophy for English language readers. It presents essays that focus on Japanese Confucianism, while (...) including topics related to Buddhism, Shintō, Nativism, and even Andō Shōeki (1703-1762), one of the most vehement critics of Confucianism in all of East Asia. The book builds on the premise that Japanese Confucian philosophy consists in the ongoing engagement in critical, self-reflective discussions of and speculative theorizing about ethics, epistemology, metaphysics, political theory, and spiritual problems, as well as aesthetics, cosmology, and ontology. (shrink)
This paper investigates the integrity of financial analysts by examining their recommendation responses to large quarterly earnings surprises. Although there is no significant difference in recommendation changes between affiliated and unaffiliated analysts in response to positive earnings surprises, affiliated analysts are more reluctant than unaffiliated analysts to downgrade stock recommendations in response to negative earnings surprises. The evidence implies that conflicts of interest undermine the integrity of financial analysts. We further examine the effects of reputation concern and the Global Research (...) Analyst Settlement as informal and formal mechanisms, on restoring analysts’ integrity. The results show that the positive bias in recommendations remains prevalent for affiliated analysts from reputable investment banks and for the postreform period. Finally, evidence from market reactions suggests that investors fail to notice that analysts’ integrity is compromised by conflicts of interest and are misled by affiliated analysts. (shrink)
As the world has turned into a global village, it has created many challenges for human resource departments regarding the management of a diverse workforce in satisfying the employees and creating a diverse yet safe environment for them that does not make them uncomfortable. The current study has investigated the effect of human resource practices on the diversity climate with the mediation of job satisfaction. The data has been collected from human resource personnel of multinationals in China with the help (...) of 316 participants. The study deployed SEM analysis to analyze and measure the effect of training and development along with performance appraisal on the diversity climate. The findings of the study revealed that training and growth or development do not have an impact on the diversity climate, however, performance appraisal has a strong positive impact. Similarly, the mediating role of job satisfaction has been found to ensure the relationship of training and development and performance appraisal with the diversity climate. This study has provided certain implications for the HR managers of multinationals to ensure a secure diversity climate for a diverse workforce. (shrink)
ZusammenfassungIn diesem Aufsatz vertrete ich die These, dass Poppers Konversion zum naiven Realismus seine eigene Theorie der Falsifikation aushöhlt. Tarskis Definition der Wahrheit ist eine semantische; wir dürfen sie nicht so interpretieren, als ob sie uns ein erkenntnistheoretisches Kriterium fur die Wahrheit lieferte. Poppers Wahrheitsbegriff hat keine semantische Funktion und bietet uns kein brauchbares Kriterium für die Beurteilung von Theorien. Seine Einführung markiert meines Erachtens nur einen Rückzug in die Metaphysik.SummaryIn this paper I have tried to show that Popper's conversion (...) to naive realism undermines his own idea of falsification. Tarski's definition of truth is a semantical notion and therefore should not be interpreted as having something to do with the epistemological question regarding the criteria of truth. Since Poppers notion of truth has no semantical function and does not provide us with a criterion for judging the truth of theories, I think it fosters a retreat into metaphysics.RésuméJ'ai essayé de montrer, dans cet article, que la conversion de Popper au réalisme naïf vide de sa substance sa propre théorie de la falsification. La définition tarskienne de la vérité est une définition sémantique; on ne peut pas ľinterpréter comme fournissant un critère épistémologique de vérité Le concept de vérité de Popper n'a pas de fonction sémantique et n'apporte pas de critère utilisable pour juger les théories. Son introduction ne représente, à mon avis, qu'une régression vers la métaphysique. (shrink)
