The increased scrutiny of investors regarding the non-financial aspects of corporate performance has placed portfolio managers in the position of having to weigh the benefits of ' holding the market' against the cost of having positions in companies that are subsequently found to have questionable business practices. The availability of stock indexes based on sustainability screening makes increasingly viable for institutional investors the transition to a portfolio based on a Socially Responsible Investment (SRI) benchmark at relatively low cost. (...) The increasing share of socially responsible investments may play a role in providing incentives towards a continuous upgrading of sustainability standards to the extent that their performance is not systematically inferior to that of the other funds. This article examines whether these incentives have been so far detectable with particular reference to the Dow Jones Sustainability Stoxx Index (DJSSI) that focuses on the European corporations with the highest CSR scores among those included in the Dow Jones Stoxx 600 Index. The aim of the article is twofold. First, we analyse the performance of the DJSSI over the period 2001-2006 compared to that of the Surrogate Complementary Index (SCI), a new benchmark that includes only the components of the DJ Stoxx 600 that do not belong to the ethical index to evaluate more correctly the size of possible divergent performances. Second, we perform an event study on the same data set to analyse whether the stock market evaluation reacts to the inclusion (deletion) in the DJSSI. In both cases, the results suggest that the evaluation of the CSR performance of a firm is a significant criterion for asset allocation activities. (shrink)

This paper investigates the short-term effects on the price of the ethically screened stocks of the Dow Jones Islamic Market World Index quarterly revisions. Using a sample of 8250 stocks from May 1999 through June 2012, we find a significant price reaction of the ethically screened stocks following additions and deletions. The results show that additions from emerging stock markets tend to experience a greater and significantly positive price response than additions from the developed markets. Further tests reveal that (...) the price reactions following DJIMWI revisions are likely to be driven by shifts in investor sentiment rather than changes in firm fundamentals. (shrink)

Islamic banking, based on the prohibition of interest, is well established throughout the Muslim world. Attention has now turned towards applying Islamic principles in equity markets. The search for alternatives to Western style markets has been given added impetus in Muslim countries by the turmoil in Asian financial markets in 1997. Common stocks are a legitimate form of instrument in Islam, but many of the practices associated with stock trading are not. In this paper the instruments traded and the (...) structure and practices of stock markets are examined from an Islamic perspective. Speculation is not acceptable in Islam and measures would have to be taken to control speculative trading. In addition short selling and margin trading are severely restricted. The use of stock index and equity futures and options are also unlikely to be acceptable within an Islamic market. Regulatory authorities in Muslim countries will therefore find a vast array of problems in attempting to structure a trading system that will be acceptable. (shrink)

In this article, we studied the Corporate Sustainability Index (ISE) of the Brazilian Mercantile, Futures and Stock Exchange (BM&FBOVESPA), with the main objective of analyzing the performance of sustainable investments in the Brazilian stock market, during the period from December 2005 to December 2010. To achieve this aim, we characterized ISE portfolios and we compared its performance with the IBOVESPA (representing the market portfolio) and other BM&FBOVESPA sectoral indices. In the performance comparison, we used level of liquidity, return (...) and risk indicators, as well as the following measures: Sharpe, Treynor, Sortino, and Omega. Our results show that although sustainable investments have presented some interesting characteristics, such as increasing liquidity and low diversifiable risk, they did not achieve satisfactory financial performance in the analysis period. This indicates that the constraints imposed by this type of investment in capital allocation in Brazil may be harming their return and risk attractiveness. (shrink)

This paper analyzes the impacts of index inclusions and exclusions on corporate sustainable firms by studying a sample of US stocks that are added to or deleted from the Dow Jones Sustainability World Index over the period 2002-2008. The impacts are measured in terms of stock return, risk and liquidity. We cannot find any strong evidence that announcement per se has any significant impact on stock return and risk. However, on the day of change, index inclusion (exclusion) stocks (...) experience a significant but temporary increase (decrease) in stock return. Liquidity deteriorates after the announcement day and bounces back significantly near the day of change. Systematic risk shows little change after announcements. But, idiosyncratic risk is higher after announcements. The overall results support Harris and Eitan's (The Journal of Finance 41(4), 815-829, 1986) price pressure hypothesis, which posits that event announcement does not carry information and any shift in demand (and hence the corresponding price change and liquidity change) is temporary. (shrink)

Using a sample of US stocks over the period 1991–2019, we test whether stocks with high exposure to a social index exhibit high returns. Using a univariate analysis, our in‐sample results show that stocks with high sensitivities to the MSCI KLD 400 Social Index underperform stocks with low sensitivities by an annual risk‐adjusted performance of 7.02%. The negative premium is also larger in the post‐crisis period of 2007–2019 and is equal to 10.25%. The out‐of‐sample results offer, however, only weak evidence (...) of such a finding, with a risk‐adjusted performance difference of merely −0.84% over the full sample period and no significant differences between the pre‐crisis and post‐crisis periods. In the multivariate regression, we find evidence of a negative relationship between exposure to the social index and stock performance. Moreover, we find that stocks with high exposure to the social index display a low corporate social responsibility score, a high Tobin’s Q, high long‐term debt, a large size, high total risk, a high market beta, a high SMB coefficient, a low HML coefficient, and a small MOM coefficient. (shrink)

In Japan, income, authority, and prestige are unequally distributed between men and women, even if they share the same occupational level. These inequalities are perceived as an ethical issue because they go against the principle of equal treatment at work. Nowadays, Japanese companies are under growing political and regulatory pressure to increase the hiring, promotion, and empowerment of female employees. In this context, the first equity index that tracks the financial performance of the best Japanese companies in terms of (...) gender diversity performance—the MSCI Japan Empowering Women Index —was launched in 2010. It aims to satisfy the growing demand of investors who want to reduce gender discrimination in Japanese workplaces. This paper compares the financial performance of the WIN stock index to the conventional parent index over the period 2010–2018, offering a unique setting to assess the effects of gender diversity screens on portfolio risk-adjusted performance. Our results are robust to a battery of risk-adjusted performance indicators and clearly indicate that investing in the WIN equity index does not come at a cost compared to investing in its conventional peer. This evidence is expected to reinforce confidence of investors who have an appetite for justice in increasing their investment in financial products that support the participation and the advancement of women in the Japanese workforce. (shrink)

This study investigates the financial effects of additions to and deletions from the most well-known social stock index: the MSCI KLD 400. Our study makes use of the unique setting that index reconstitution provides and allows us to bypass possible issues of endogeneity that commonly plague empirical studies of the link between corporate social and financial performance. By examining not only short-term returns but also trading activity, earnings per share, and long-term performance of stocks that are involved in these (...) events, we bring forward evidence of a ‘social index effect’ where unethical transgressions are penalized more heavily than responsibility is rewarded. We find that the addition of a stock to the index does not lead to material changes in its market price, whereas deletions are accompanied by negative cumulative abnormal returns. Trading volumes for deleted stocks are significantly increased on the event date, while the operational performances of the respective firms deteriorate after their deletion from the social index. (shrink)

Slight absolute changes in the Shanghai Stock Exchange Index (SHSE) corresponded to the city’s immediate increases in coronary heart disease deaths and stroke deaths. Significant fluctuations in the Shenzhen Stock Exchange Index (SZSE) corresponded to the country’s minor, delayed death rates. Investors deal with money, greed, stock volatility, and risky decision-making. Happy people live longer and better. We ask the following question: Who are the investors with the highest and most sustainable stock happiness, and why? Monetary (...) wisdom asserts: Investors apply their deep-rooted values (avaricious love-of-money aspiration and locus of control, Level 2) as a lens to frame critical concerns in the proximal-immediate (Shanghai Stock Exchange Index changes, Level 1) and the omnibus-distal contexts (domicile: city vs. country, Level 2) to maximize expected utility (portfolio changes, Level 1) and ultimate serenity (stock happiness, Level 1). We collected multilevel data—the longitudinal SHSE and 227 private investors’ daily stock happiness and portfolio changes for 36 consecutive trading days in four regions of China. Investors had an average liquid asset of $76,747.41 and $54,660.85 in stocks. This study is not a “one-shot” game with “nothing at stake.” We classified Shanghai and Beijing as the city and Shenzhen and Chongqing as the country. Our cross-level 3-D visualization reveals that regardless of SHSE volatility, investors with low aspiration, external control, and country domicile enjoy the highest and most sustainable stock happiness with minimum fluctuations. Independently, investors with low aspiration, external control, and country domicile tend to make fewer portfolio changes than their counterparts. Behaviorally, less is more, debunking the myth—risky decisions excite stock happiness. Our longitudinal study expands prospect theory, incorporates attitude toward money, and makes robust contributions to behavioral economics and business ethics. We help investors and ordinary citizens make happy, healthy, and wealthy decisions. Most importantly, the life you save may be your own. (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)

This study investigates performance of portfolios composed of British socially responsible investments (SRI) stocks. Using the ‘Global-100 Most Sustainable Corporations in the World’ list (known also as ‘Global-100’) to select the SRI companies, we found that, in the period 2000–2010, the returns of the SRI portfolios were on average higher compared with the corresponding returns of the market indexes. The annual average difference in returns of the SRI portfolios (with dividends) was 5.26 % and 5.69 % relative to the (...) FTSE100 and FTSE4GOOD indexes (the total return versions), respectively, but the differences in returns in the whole period, in individual years and in other sub-periods were in most cases not statistically significant. Positive performance of SRI stocks in the whole sample is, however, evidenced by risk-adjusted measures such as the modified Sharpe ratio (MSR) and certainty equivalent (CEQ) returns, as well as by incorporating various levels of transaction costs. Furthermore, a simple trading strategy relying on selection of SRI stocks from the Global-100 list would beat the market indexes in the whole period 2000–2010, even after inclusion of various levels of transaction costs. We also estimated the Fama–French and Carhart multi-factor models and found that the returns of the SRI portfolios cannot be consistently explained by conventional factors other than the market factor. (shrink)

In this empirical study, we present two new models that are corporate ethics based. The first model numerically quantifies the corporate value index (CV-Index) based on a set of predefined parameters and the second model estimates the market-to-book values of equity in relation to the CV-Index as well as other parameters. These models were applied to Canadian companies listed on the Toronto Stock Exchange (TSX). Through our analysis, we found statistically significant evidence that corporate values (CV-Index) positively correlated with (...) firm performance. The results are even more significant for firms with low market-to-book values. Our empirical findings suggest that corporate ethics is vital for management, employees, shareholders, stakeholders, and the community at large. In addition, we have tested and confirmed five hypotheses that are used to illustrate corporate ethics behavior and performance. (shrink)

We examine the equity valuation effect of press releases of upgrades or downgrades reflected in the Covalence Ethical Quote, an index ranking the ethical performance of multinational firms. The index is updated quarterly and is comprehensive enough to include 45 criteria reflecting working conditions, impact of product, impact of production, and company institutional impact. Thus, it captures many dimensions of firms’ ethical performance that are not accounted for in previous research. Our research encompasses a joint test of (...) the value relevance of the index itself and the impact of ethical reputation on a firm’s value. We find first a significant causal relationship between stock market reactions and changes in the CEQ. Specifically, disclosures of positive changes in firm ethical performance cause increases in firm value. Second, cross-sectional analysis indicates a positive association between changes in firm ethical performance and both its financial performance and its financial reporting quality. Collectively, these results suggest that the CEQ conveys information that is useful to investors. Further, corporate measures taken to increase ethical performance are associated with positive benefits to shareholders. Finally, investors have concluded that good news about their firms’ efforts to be ethical is worth the cost. (shrink)

Volatility is widely used in different financial areas, and forecasting the volatility of financial assets can be valuable. In this paper, we use deep neural network and long short-term memory model to forecast the volatility of stock index. Most related research studies use distance loss function to train the machine learning models, and they gain two disadvantages. The first one is that they introduce errors when using estimated volatility to be the forecasting target, and the second one is that (...) their models cannot be compared to econometric models fairly. To solve these two problems, we further introduce a likelihood-based loss function to train the deep learning models and test all the models by the likelihood of the test sample. The results show that our deep learning models with likelihood-based loss function can forecast volatility more precisely than the econometric model and the deep learning models with distance loss function, and the LSTM model is the better one in the two deep learning models with likelihood-based loss function. (shrink)

The purpose of this paper is to evaluate the quality of Environmental, Social and Governance (ESG) reporting of Spanish companies listed in the IBEX-35 stock index Firstly, it establishes four requisites for quality in ESG reporting. Secondly, it evaluates whether ESG reports comply with these requirements. Using a benchmark tool based on GRI3 we can conclude that the GRI has resulted in some standardization of corporate social and environmental reporting, particularly as regards to format, but their approach to indicators (...) is unlikely to produce high quality information that is relevant, comparable, complete and accessible to all stakeholders. Also, there seems to be evidence that reporting is orientated to satisfy shareholders and investors´ demands rather than to other stakeholders´. (shrink)

Franz Boas, the major founding figure of anthropology as a discipline of America, came to the United States from Germany in 1886. Though this fact is widely known, the significance of Boas' roots in German intellectual tradition and late nineteenth century German anthropology remains obscure. The essays in Volkgeist a Method and Ethic explore the Germanic influences on Boasian anthropology and clarify their implications for the ethnographic practice that Boas promulgated.

This research applies the impression management theory of exemplification in an accounting study by identifying and measuring differences in both auditor and public perceptions of exemplary behaviors. The auditors were divided into two groups, one of which reported self-perceptions (A-S) while the other group reported their perceptions of a typical auditor (A-O). There were two separate public groups, which gave their perceptions of a typical auditor and were divided based on their levels of accounting sophistication. The more sophisticated public group (...) was comprised of bank loan officers (LO) while the less sophisticated public group consisted of investment club members (IC). Comparisons were made on 30 behaviors contained in the AICPA Code of Professional Conduct, which served as the basis for the research instrument. Profile analysis, a special form of MANOVA technique, was used to analyze the results. A-S perceptions were the highest of the four treatment levels and were significantly higher (i.e., more exemplary) than the perceptions of both the A-O and LO groups. The more sophisticated user group (LO) provided the lowest perceptions of the four treatment levels. For at least four of the six measures, the LO treatment group perceived the typical auditor to be less exemplary than both the IC and A-O treatments. There were no differences in perceptions between the A-O group and IC. Additional analysis revealed that auditors overrated the degree to which the public relied on financial statements. However, both public groups reported a reasonably high level of reliance on financial statements when making decisions. (shrink)

We may look at the relation of will and motive from another side as follows: Will, we have said, is an individual response to an individual situation. Like the situation itself, it is not a fixed thing persisting through change, but involved in a continuous flow of change, re-adapting itself constantly in one respect or another to recognized changes of circumstance. It can have no more immutability than circumstance, and if it is not to be left behind in the march (...) of events and become old-fashioned, it should have the capacity for the same rapidity of change. Now motives also change, but in a different way. First one motive operates, then another, as circum-. (shrink)

Ethics or Moral Philosophy investigates the application of the terms good and bad. We constantly use these predicates, and Ethics is an inquiry into our use of them. But this pair of terms is used over a very wide field and no one inquiry could cover it all. A ship or a tea or a house may be called good; and the investigation of such judgments would require a knowledge of ships, teas, or houses. Moral philosophy does not pretend to (...) cover the whole field or to investigate every use of the terms: it is concerned only with the. moral use, or more explicitly with the use of the terms in reference to human conduct. And even this limitation may not be sufficient. (shrink)

Epistemic injustice occurs when people are harmed as knowers, especially when we lack the conceptual and interpretive resources to recognize people as knowers of their own experience. This essay addresses the ways in which concerns about epistemic injustice create a positive obligation to include diverse knowers of ethics within the academy and models a community-based alternative. This is ethical enfranchisement, by which we mean expanding the range of people included within ways of knowing ethical concepts, reflecting on the (...) way people’s experiences are represented in ethical discourse, and allowing priority ethical conversations to be identified by community research. The goal of teaching ethics through enfranchisement is the creation of social infrastructure and exchange between community and classroom. We describe our Re-envisioning Ethics Access and Community Humanities (REACH) Initiative at Salisbury University as an example; a community-based research partnership between public philosophy and community psychology in descriptive ethics. We also explore the obligation held by ethics professionals and academics to enfranchise community members in their conceptualization of ethical concepts, priorities, and knowledge. (shrink)

Wemay look at the relation of will and motive from another side as follows: Will, we have said, is an individual response to an individual situation. Like the situation itself, it is not a fixed thing persisting through change, but involved in a continuous flow of change, re-adapting itself constantly in one respect or another to recognized changes of circumstance. It can have no more immutability than circumstance, and if it is not to be left behind in the march of (...) events and become old-fashioned, it should have the capacity for the same rapidity of change. Now motives also change, but in a different way. First one motive operates, then another, as circum-. (shrink)

We may look at the relation of will and motive from another side as follows: Will, we have said, is an individual response to an individual situation. Like the situation itself, it is not a fixed thing persisting through change, but involved in a continuous flow of change, re-adapting itself constantly in one respect or another to recognized changes of circumstance. It can have no more immutability than circumstance, and if it is not to be left behind in the march (...) of events and become old-fashioned, it should have the capacity for the same rapidity of change. Now motives also change, but in a different way. First one motive operates, then another, as circum-. (shrink)

On Our Allotted Guardian Spirit is a lively and at times perplexing text combining general reflections on the nature of the soul with a discussion of the phenomenon of a personal guardian spirit. Plotinus wants to interpret Plato, and aims to integrate Plato's various statements about daimones into one comprehensive theory. This leads to some views that are, if not exotic, then at least strange on first encounter. However, a closer reading reveals that Plotinus is not interested in demonology per (...) se. Instead, the central concern of the treatise are ideas about the soul, the self, and self-consciousness. Plotinus' explorations produce a theory of the mind as the agent and activity responsible for a person’s ethical choices and conduct of life. The demon emerges as a philosophical tool passed down from Plato, but adapted and rationalized to try to explain motivation to action, the impulse toward the ethical life, and even the various differences in human ethical and psychological constitution. This innovative theory is a response to a strong and ongoing current of thought in the philosophical tradition. The introduction offers an overview of ancient demonologies, starting with Homer and the Presocratics, and is followed by an in-depth examination of Plato, the Stoics, Plotinus, and later Neoplatonic developments. As such the book presents Plotinus’ specific rationalizing response to the idea of a guardian spirit in the context of ancient philosophical demonologies. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Funding Utopia: Utopian Studies and the Discourse of Academic ExcellenceAdam Stock (bio)As an academic field, there is in some important ways nothing special about utopian studies. Granted, our object of inquiry may look beyond the present toward what Ruth Levitas terms the Imaginary Reconstruction of Society, but we are still workers in what Darren Webb calls the “corporate-imperial” university.1 Webb argues that within the university we can at (...) best protect “bolt holes, breathing spaces, and places of refuge” that can function as “fleeting, transitory, small-scale experiences of utopian possibility.” As academics, our greater value to utopian politics therefore involves using our “knowledge and resources... in the service of a collaborative process of memory- and story-making, pulling together disparate inchoate dreams and yearnings in order to generate a utopian vision that can help inform, guide, and mobilize long-term collective action for systemic change.”2 Such work uses resources and the products of labor within the academy in the service of ends beyond and at times against it. In other words, utopianism within the academy is necessarily complicit in the academy’s constitutive material relations, but it can also be oppositional in intellectual and—more importantly—activist senses to the academy’s ideological form. In other words, whether or not a given [End Page 517] project in the field of utopian studies is politically utopian does not depend on its material basis (i.e., how it is funded) so much as its content, in the senses of both the work that it does and the ways in which it captures and mobilizes available resources. Hence it is possible to imagine both regressive and emancipatory research projects in our field that capture or co-opt additional resources, including both internal and external funding. It is, however, a mark of emancipatory projects that they will use these resources to the ends Webb describes.Implicit in Webb’s argument is an acceptance that politically useful utopian work should be socially engaged beyond the confines of the university campus. However, engaging in utopian politics from within inegalitarian university structures (via what is institutionally termed “outreach” and “engagement” work) should be pursued with caution. Even researchers and educators acting in good faith can easily end up exploiting or causing damage to social movements, support groups and activists. Good allyship and effective support cannot be reduced to institutional mechanisms like ethics committee compliance or equality, diversity and inclusivity (EDI) initiatives, even when these go beyond “lip service” to become meaningful acts.3 For projects involving external collaborators with a connection to the sort of “long-term, collective action” Webb describes, research design must walk a tightrope between being supportive of utopian politics beyond the university and responding to instrumental pressures within it.Here I suggest as an academic field utopian studies is at least a little special as it mediates dialectically between theory and practice at one level while developing a conceptual framework of the dialectic between theory and practice at another. Within what Richter et al term “the paradox of universities as colonizing and liberatory spaces for community engagement and activism” the utopian method is well placed to ask questions about how we engage with the given conditions of the academy, including competitive research funding grants.4 I begin below with a discussion of the relationship of theory and academic work to the social with reference to utopian theory and then apply this to questions about our wider complicity within a discursive regime I term “academic excellence.” I argue this regime is central to the “prestige economy” upon which some of the structural inequalities of our sector are based. I conclude by suggesting that working within the constraints of the given while remaining orientated toward utopian politics in an ethical manner requires close attention to how we navigate the relationship between utopian theory and political practice. [End Page 518]Theory, Praxis, PracticeIn the final chapter of his recent monograph Becoming Utopian, Tom Moylan forms a cogent argument about the praxis of utopian-oriented politics with reference to Saul Alinsky’s community organizing and Paulo Freire’s pedagogy of the oppressed.5 The writings of both figures are grounded in... (shrink)

It is widely claimed that climate change has increased the magnitude and the frequency of natural phenomena such as storms, droughts, and floods with the concomitant costs in terms of damages and victims. This paper using weekly data from global stock market indices in a Fama–French model, examines how and to what extent market agents and investors react to such events. As a yardstick for comparison purposes, the possible market impact of industrial accidents is also incorporated and examined in (...) the empirical investigation. The study uses in a comparative approach the STOXX Global ESG Environmental Leaders index and the STOXX Global index diversified across 1800 top companies. Results reported herein seem to indicate that natural and anthropogenic adversity have no immediate impact on the stock indices, while wildfires have an immediate reduction impact on market risk in the case of the ESG Environmental Leaders index. Moreover, wildfires and industrial accidents appear to cause a significant reduction of systematic risk over the next week following the incident. However, the magnitude of the effect is higher in the case of the ESG Environmental Leaders stock index. Finally, the effect on systematic risk by industrial accidents is temporarily without any lasting imprint. (shrink)

In the June issue of the Classical Review Professor Cook Wilson announces his conversion to the view that in ‘a well-defined group’ of passages in the Nicomachean Ethics λόγος means Reason. While I cannot hope to re-convert Professor Cook Wilson, I feel that it is worth while to try to express the reasons for which it seems difficult to follow him.

Note, by Sir D. Ross.--Reason and intuition.--The kinds of belief.--Religious belief.--Conflicts of belief.--The eclipse of cause.--Materialism in politics.--On the need for a social philosophy.--Can philosophy determine what is ethically and socially valuable?--The philosophy of democracy.--The principles and limitations of state action.--Leisure.--Locke's contribution to political theory.--Jeremy Bentham.--The empiricism of J. S. Mill.--Is a science of theology possible?--Will and action in ethics.

Kierkegaard’s life-long interest in the theater is well documented and reflects the deep impact of Golden Age Denmark’s vibrant theatrical culture on his thinking. Kierkegaard has extensive and excellent criticism of performances and dramatic characters both famous and obscure. Additionally, Kierkegaard has the rare distinction among philosophers of having had aspects of his life and work continually put upon the stage. The key areas of his philosophical project that are considered here alongside his theatrical aesthetic are: repetition, reflection and recollection (...) as they bear upon the aesthetics of time, the dialectical relationship between theatrics and religious life, the pseudonymous authorship in theatrical frame, and the ethical imitation of prototype. In text, Kierkegaard works out dramaturgically the limits of the communication of inwardness. Hence by examining the deep engagement between Kierkegaard and the theater, one can entertain the notion that theatricality is aesthetically necessary for his project as a whole. (shrink)

First published in 2003. Routledge is an imprint of Taylor & Francis, an informa company.

This entry considers the question “What is objectification?” After preliminary remarks about different methodological approaches, several possible answers, or groups of answers, are introduced, separated out in terms of broad themes. Each is situated in relation to historical and more contemporary authors. These themes are: objectification as instrumentalization; objectification as reduction to the body; objectification as negation of subjectivity or agency; objectification as naturalization. Objectification is considered in relation to both sexual and racial contexts. Finally, these themes are discussed in (...) relation to the wider category of “mind suppression,” and its relation to objectification in the familiar context of imagery. (shrink)

The way things are supposed to be : reputational theory and its demise -- Thriving the new way : with little or no reputation : the Goldman Sachs story -- The way things used to be : when reputation was critical to survival -- Individual reputation unhinged from the firm : hardly anybody goes down with the ship -- Proof in the pudding : Michael Milken, Junk Bonds, and the decline of Drexel and -- Nobody else -- The new, post-reputation (...) Wall Street : accounting firms -- The new, post-reputation Wall Street : law firms -- The new, post-reputation Wall Street : credit rating agencies -- The new, post-reputation Wall Street : stock exchanges -- The SEC and reputation -- The SEC : captured and quite happy about it -- Where we are and where we are headed : a conclusion of sorts -- Index. (shrink)

It is difficult for a philosopher to contemplate with equanimity the fate which is overtaking, if it has not already overtaken, the word logical. “Logical” is one of a trio of words selected by the Greeks to represent the three main departments of philosophy; and of this trio the other two members, the words “ethical” and “physical,” have at least remained respectable; and to be called “philosophical” is almost a compliment. But to be logical is apparently, at least in (...) England, to enter on very questionable courses: it is to class yourself with every reckless extremist, with the latest and wildest ism in art, politics, and literature, with Russians and Frenchmen and the “Latin mind.” No less a person than H.M. Secretary of State for Foreign Affairs, on no less an occasion than an Assembly of the League of Nations, has lately proclaimed proudly to the gathered nations that lack of logic is the special virtue and privilege of the British Empire. The “lesser breeds with in the law” heard no doubt and trembled, wondering how they could ever compete with a Power to which the laws of thought themselves were mere expediencies. Thus it appears, if Sir Austen Chamberlain is right, that to be logical is to fall into a human weakness or vice, and that this weakness or vice is fortunately commoner outside than inside the British Empire. (shrink)

This systematic literature review contributes to the increasing interest regarding corporate social responsibility (CSR) in family firms—a research field that has developed considerably in the last few years. It now provides the opportunity to take a holistic view on the relationship dynamics—i.e., drivers, activities, outcomes, and contextual influences—of family firms with CSR, thus enabling a more coherent organization of current research and a sounder understanding of the phenomenon. To conceptualize the research field, we analyzed 122 peer-reviewed articles published in highly (...) ranked journals identifying the main issues examined. The results clearly show a lack of research regarding CSR outcomes in family firms. Although considered increasingly crucial in family firm research, a study investigating family outcomes (e.g., family community status, family emotional well-being), as opposed to firm outcomes, is missing. This literature review outlines the current state of research and contributes to the actual debate on CSR in family firms by discussing how family firms can use CSR activities as strategic management tools. Moreover, our analysis shows a black box indicating how CSR links different antecedents and outcomes. The black box is significant since firms generally need to know where to allocate their scarce resources to generate the best outcomes. We identify nine research questions based on these findings, which we hope will inspire future research. (shrink)

“The gift of bread from my mouth” serves as a byword for “Levinasian ethics,” the precise meaning of which is often taken for granted. It is not at all clear that a prescriptive ethics could ever be derived from these passages; it is also a hyperbole for responsibility. Discussion of this figure almost universally ignores the parallel, and explicitly ethical, discussion of Isaiah 58, where the breaking of bread represents the perplexity of hunger, the rejection of oppression, and the (...) proximity of God. The breaking of bread is not a self-standing account of ethics but is paralleled by the ethics of the broken fast. The “gift of bread from my mouth” helps to explain the repeated references to fasting throughout Levinas’s authorship. The varying figures of the broken bread frame an ontological drama: sensibility, separation, proximity, and diachrony—and presses the sense that possession and the ego are ethically futile, as the alterity of hunger is proximal or “at the core” of the subject. (shrink)

It is difficult for a philosopher to contemplate with equanimity the fate which is overtaking, if it has not already overtaken, the word logical. “Logical” is one of a trio of words selected by the Greeks to represent the three main departments of philosophy; and of this trio the other two members, the words “ethical” and “physical,” have at least remained respectable; and to be called “philosophical” is almost a compliment. But to be logical is apparently, at least in (...) England, to enter on very questionable courses: it is to class yourself with every reckless extremist, with the latest and wildest ism in art, politics, and literature, with Russians and Frenchmen and the “Latin mind.” No less a person than H.M. Secretary of State for Foreign Affairs, on no less an occasion than an Assembly of the League of Nations, has lately proclaimed proudly to the gathered nations that lack of logic is the special virtue and privilege of the British Empire. The “lesser breeds within the law” heard no doubt and trembled, wondering how they could ever compete with a Power to which the laws of thought themselves were mere expediencies. Thus it appears, if Sir Austen Chamberlain is right, that to be logical is to fall into a human weakness or vice, and that this weakness or vice is fortunately commoner outside than inside the British Empire. (shrink)