We use variation in corruption convictions across judicial districts in the US to examine the relationship between political corruption and risk-taking of public firms. Firms headquartered in regions with high levels of political corruption have lower total risk and lower idiosyncratic risk on average. Further analysis shows that corruption tends to encourage firms to pursue risk-decreasing investments, lower the riskiness of their operations, and decrease asset liquidity. While managerial ownership is intended to align the interests of managers and shareholders, the (...) presence of corruption appears to encourage undiversified managers to decrease risk-taking. Our evidence is consistent with agency theory and the asset-shielding argument that political corruption discourages managers from taking risks that expose firms to expropriation by politicians, resulting in suboptimal corporate policies. (shrink)

Over recent years, the research community has been increasingly using preprint servers to share manuscripts that are not yet peer-reviewed. Even if it enables quick dissemination of research findings, this practice raises several challenges in publication ethics and integrity. In particular, preprints have become an important source of information for stakeholders interested in COVID19 research developments, including traditional media, social media, and policy makers. Despite caveats about their nature, many users can still confuse pre-prints with peer-reviewed manuscripts. If unconfirmed but (...) already widely shared first-draft results later prove wrong or misinterpreted, it can be very difficult to “unlearn” what we thought was true. Complexity further increases if unconfirmed findings have been used to inform guidelines. To help achieve a balance between early access to research findings and its negative consequences, we formulated five recommendations: (a) consensus should be sought on a term clearer than ‘pre-print’, such as ‘Unrefereed manuscript’, “Manuscript awaiting peer review” or ‘’Non-reviewed manuscript”; (b) Caveats about unrefereed manuscripts should be prominent on their first page, and each page should include a red watermark stating ‘Caution—Not Peer Reviewed’; (c) pre-print authors should certify that their manuscript will be submitted to a peer-review journal, and should regularly update the manuscript status; (d) high level consultations should be convened, to formulate clear principles and policies for the publication and dissemination of non-peer reviewed research results; (e) in the longer term, an international initiative to certify servers that comply with good practices could be envisaged. (shrink)

The present study, using a non-experimental approach, investigated a theoretical concept of best practice, which we recently introduced – namely: a ‘state of consonance’ and a ‘state of disconsonance’ of best practice. Consonance of best practice posits that different levels of best practice, as well as other comparable psychological constructs would cluster or ‘group’ together. Disconsonance of best practice, in contrast, would indicate non-overlapping of contrasting levels of best practice. Taiwanese undergraduates from five private universities in Taipei City and New (...) Taipei City, Taiwan took part in the study by responding to a suite of Likert-scale questionnaires, which took approximately 30–35 min to complete. Cluster analysis, commonly known as ClA, was used to analyze the data and seek theoretical understanding into the nature of the consonance of best practice. Results, overall, showed support for our proposition, resulting in four distinct profiles: ‘a Balanced Profile,’ ‘an Intrinsic Motivation Profile,’ ‘a Current Best Practice + Interest Profile,’ and ‘a Current Best Practice + Motivation Profile.’ This evidence, helping to advance further research development, has a number of practical implications for consideration. For example, how could we use the Balanced Profile to develop learning objectives and/or pedagogical practices that would encourage students to enjoy their learning experiences? (shrink)

Life education, also known as life and death education, is an important subject in Taiwan with institutions offering degree programs and courses that focus on quality learning and implementation of life education. What is interesting from the perspective of Taiwanese Education is that the teaching of life education also incorporates a number of Eastern-derived and conceptualized tenets, for example, Buddhist teaching and the importance of spiritual wisdom. This premise contends then that life education in Taiwan, in general, is concerned with (...) the promotion, fulfillment, and cherishing of quality life experiences (e.g., personal contentment, happiness). One example of life education, which resonates with other spiritual beliefs and religious faiths (e.g., Hinduism), is related to spiritual cultivation and the enlightenment of life wisdom. Our own teaching of the subject, likewise, places emphasis on the goal of teaching students to seek meaningful understanding of and appreciation for three major, interrelated components of life education: life wisdom, life practice, and life care. Life education is a beneficial subject as its theoretical understanding may help individuals cope with pathologies and negative life experiences. One negative life experience, in this case, is the ultimate fate of humankind: death. Approaching death and/or the onset of grief is something that we all have to experience. How does one approach death? It is not easy feat and, of course, grief for a loved one is personal and some of us struggle with this. We contend that spiritual cultivation and enlightenment, arising from life education, may assist us with the coping of death (e.g., the possibility of transcendence beyond the realm of life). Forming the premise of the present article, we propose that a person’s ‘spiritual and enlightened self’, reflecting the convergence of three major aspects of life education (i.e., Philosophical reflection, Enrichment of personal well-being, and Spiritual cultivation), would result in the initiation and creation of a number of virtues and positive characteristics – for example: having a positive outlook in life, showing compassion, forgiveness, etc. These virtues and quality characteristics, from our philosophical reasoning, are equivalent to those qualities that positive psychology advocates for. (shrink)

In the past decades, narrative practices have been developed, and care has been conceptualized as being narrative in nature. More recently, narrative care has been developing both as a practice and a field of study. It is necessary to make the theoretical foundations of narrative care visible to avoid the risk of narrowly defining narrative care as a matter of storytelling and listening. In this article, we develop an understanding of narrative care grounded in early feminist pragmatist philosophy, with a (...) focus on social and political activism and experience. Pragmatism holds the possibilities to open spaces for realities that are constantly in flux and for emergent situations that must be considered across time, diverse places and social contexts. With the aid of Vera’s stories about her relationship with Tammy, we demonstrate the importance of recognizing that realities are multiple, complex and uncertain. Furthermore, we discuss how the stronghold of formula stories and issues of power, positioning and inequities, restrict people’s possibilities to be, become and co-author their stories. We also argue that the playfulness, imagination and world travelling of narrative care are in line with early feminist pragmatism, which draws on a wide and diverse range of experiences. Jane Addams linked democracy to dialogue, joint experiences and social equality. This calls for the development of ethical frameworks grounded in care that are more specifically focused on relational ethics and a commitment to dialogical and relational democracy and the prioritization of community. (shrink)

"All life upon the stage"; the Theatrum Mundi. In this volume, a seventeenth century metaphor is revisited and is seen as applying to all art in all times. In the "magic mirror of art" the human being discerns the hidden spheres of human life and commemorates and celebrates its glorious victories and mourns its ignominious defeats. Let us rediscover Art as a witness to the human predicament as well as a celebrant of humanity's most sublime moments. This is the invitation (...) of this collection of studies by A-T. Tymieniecka, Hanna Scolnicov, Muella Erkilic, Matt Landrus, Patricia Trutty-Coohill, Monika Bakke, David Brubaker, Tammy Knipp, Howard Pearce, Ellen J. Burns, G. Backhaus, Ethan J. Leib, Lawrence Kimmel, Ingrid Scheibler, Gottfried Scholz, L.F. Werth, A. Carillo, M. Statkiewicz, K. O'Rourke, B. Meyler, H. Meltzer, Jiuan Heng, W.V. Davies. Art as mirror of life, human life as participating in a stage play, corresponds to the fervent search human being of the causes, reasons, puzzles of our existence which elude us in the concrete life. This XVII c. conception of Theatrum Mundi opens as this volume shows a fascinating field of investigation for our times. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:BOOK REVIEWS 697 Excellent as Sullivan's book is, it has raised a host of questions which, though it cannot be fairly expected to discuss them at length, much less to resolve, are at the heart of ongoing reflections about the possibility of salvation outside the visible Church. Such questions concern the concrete ways in which God works in the lives of peoples of different religions, the unique and normative (...) role of Christ in the history of salvation, the function of non-Christian religions as mediations of salvation, and so on. And the debate on these issues rages on among Catholic as well as non-Catholic theologians! One wishes that Sullivan had given a fuller account of this debate which is central in interreligious dialogue. More directly connected with the method and approach of the book itself are the questions of dogmatic development and the hermeneutics of doctrines. To put it more concretely, was Leonard Feeney, with whose ironic fate the book opens and ends, simply expressing the ancient doctrine of the deposit of the faith concerning salvation in the Church in a negative and imperfect fashion? Or was he (and more importantly, popes and official teachers of the faith) wrong in affirming the exclusiveness implicit in the formula extra ecclesiam nulla salus (which apparently they did)? H the latter, then the issues of infallible magisterium and dogmatic ' development ' raise their ugly heads, and one has to come to terms with them. The Catholic University of America Washington, D.C. PETER c. PHAN Character. By JOEL KUPPERMAN. Oxford: Oxford University Press, 1991. Pp. vi + 193. The two theses of J. Kupperman's Character are "that character is of central importance to ethics and that ethical philosophy will have to be restructured once this is understood " (p. 3). The argument has three stages: the first three chapters explicate the notion of character and its relationship to the notions of the self and of responsibility; the next two consider the dominant, rival theories in contemporary ethics; the last two address the topics of value and the place of character in ethics. In two appendices, Kupperman applies the substantive conclusions of the work to the issues of moral psychology and the education of character. A brief review cannot communicate the many nuances of argument and the precise and lucid style that distinguish the book. While certain parts of the argument seem problematic, or at least in 698 BOOK REVIEWS need of further development, the work deserves the attention of professional ethicists and of inquisitive non-professionals. The opening chapter offers the following definition of character: "X's character is X's normal pattern of thought and action, especially with respect to concerns and commitments in matter affecting the hap· piness of others or of X, and most especially in relation to moral choices" (p. 17). In the second chapter, Kupperman considers three views: Enduring Self (ES), No Self (NS), and Constructed Self (CS). The ES appears to be seH-evidently true. But what exactly is the self and where is it to he found? It is difficult to fix the abiding " I " amid or behind the flux of our self-experience. On the other hand, even Hume's skepticism concerning the self presumes that " we know where to look " for it. The " I " is simultaneously obvious and elusive, stable and unstable (p. 40). Thus, both the ES and the NS are problematic, The third option is the Constructive Self, Kupperman holds that, as children, we begin with a "protoseH." The full-fledged self is often the result of orientations, habits, and traits of character developed before one has even begun deliberating about the kind of character one would like to have. Like the self, character is constructed mostly through unreflective choices. But this raises questions about responsibility, which is the focus of the third chapter. If we have not willed to be the sorts of persons we now are, how can we be held responsible for who we are or what we do? Actions do not " flow from character like water from a pipe " (p, 59). Over long periods of time and through a reorganization of large portions of our life, we can... (shrink)

Much problem solving and learning research in math and science has focused on formal representations. Recently researchers have documented the use of unschooled strategies for solving daily problems -- informal strategies which can be as effective, and sometimes as sophisticated, as school-taught formalisms. Our research focuses on how formal and informal strategies interact in the process of doing and learning mathematics. We found that combining informal and formal strategies is more effective than single strategies. We provide a theoretical account of (...) this multiple strategy effect and have begun to formulate this theory in an ACT-R computer model. We show why students may reach common impasses in the use of written algebra, and how subsequent or concurrent use of informal strategies leads to better problem-solving performance. Formal strategies facilitate computation because of their abstract and syntactic nature; however, abstraction can lead to nonsensical interpretations and conceptual errors. Reapplying the formal strategy will not repair such errors; switching to an informal one may. We explain the multiple strategy effect as a complementary relationship between the computational efficiency of formal strategies and the sense-making function of informal strategies. (shrink)

This paper defends a 'punctivist' conception of consciousness from recent attacks by Ian Phillips and Matthew Soteriou. As we intend it, 'punctivism' is the view that a subject's experience over some interval is determined by their experiential states at each instant during it. Phillips and Soteriou both offer ingenious arguments purporting to show that the punctivist is unable to make sense of motion perception; and that only by adopting an 'holistic' conception -- whereby a subject's instantaneous experiences are determined by (...) their experience over the interval -- can we make sense of the puzzles such phenomena pose. We contend that both arguments invoke dubious claims, their proffered solutions come with highly controversial commitments, and, if we take punctivism seriously, it is difficult to see why the so-called puzzles should be puzzling in the first place. A punctivist model of motion perception is proposed in response, and objections anticipated. (shrink)

The philosophy of medicine cum bioethics has become the socially recognized source for moral and epistemic direction in health-care decision-making. Over the last three decades, this field has been accepted politically as an authorized source of guidance for policy and law. The field's political actors have included the National Commission for the Protection of Human Subjects of Biomedical and Behavioral Research, the Department of Health, Education, and Welfare, the President's Commission for the Study of Ethical Problems in Medicine and Biomedical (...) and Behavioral Research , the National Bioethics Advisory Commission, and the new Council on Bioethics; these groups and agencies have set forth rules on issues ranging from the role of humans in biomedical research to the production of human embryos for research, the definition of death, and the permissibility of human cloning. The members of the field are not just scholars and teachers in an academic realm directed to both theoretical and applied issues. They are, in addition, practitioners of a conceptual and moral trade that possesses a legal and political standing. This essay critically addresses the sudden emergence of bioethics as a societally recognized source of moral guidance, a source replete with authorized moral experts. Attention is directed to moral and conceptual assumptions that have led the philosophy of medicine, and especially bioethics, to acquire a quasi-juridical/political role in guiding clinical choices, framing health-care policy, and directing court holdings. (shrink)

Throughout his career as an academic theologian, Karl Rahner never explicitly set himself the task of working out a theory of language. Nonetheless, the seminal insights for such a theory were formulated in his extensive corpus as functions of other, more properly theological concerns. These consist chiefly of the development of religious doctrine and the cult of the Sacred Heart (See DD, BH, ST, TM, ULM). Other important insights appear in his treatment of the hermeneutics of eschatological statements and the (...) relation between Christianity and poetry (See HES, PC, PP). All these theological concerns have received scholarly attention (See Barnes 1994, Bonsor 1987, Callahan 1985, Corduan 1978, Doud 1983, Hines 1989, Phan 1988, Thompson 1992, Walsh 1977). As for Rahner’s theory of language, scholarship has shown how a coherent system can be constructed from the disparate sources that contain it (See Masson 1979, 224–33; and 1980, 266–72). In developing this previous work, the present article will ex plain how Rahner’s theory is derived from his distinctive meta physics of the symbol. Scholarship is only beginning this discussion, although the centrality of symbolism in Rahner’s thought has been well treated. [See Callahan 1982, Fields 2000 (esp. 6–16, 92–97), Motzko 1976, H. Rahner 1964, Wong 1984.] In addition, this paper will also suggest that an origin of Rahner’s symbolic view of language lies in Heidegger’s aesthetics. Bringing this origin to the fore will lead to a concluding discussion about the debt that Rahner owes his mentor at Freiburg University. (shrink)

This paper discusses the stability and Hopf bifurcation analysis of the diffusive Kaldor–Kalecki model with a delay included in both gross product and capital stock functions. The reaction-diffusion domain is considered, and the Galerkin analytical method is used to derive the system of ordinary differential equations. The methodology used to determine the Hopf bifurcation points is discussed in detail. Furthermore, full diagrams of the Hopf bifurcation regions considered in the stability analysis are shown, and some numerical simulations of the limit (...) cycle are used to confirm the theoretical outcomes. The delay investment parameter and diffusion coefficient can have great impacts on the Hopf bifurcations and stability of the business cycle model. The investment parameters for the gross product and capital stock as well as the adjustment coefficient of the production market are also studied. These parameters can cause instability in, and the stabilization of, the business cycle model. In addition, we point out that, as the delay investment parameter increases, the Hopf bifurcation points for the diffusion coefficient values decrease considerably. When the delay investment parameter has a very small value, the solution of the business cycle model tends to become steady. (shrink)

Extant literature suggests a correlation between the thematic core of an adolescent’s personal account of depression and the trajectory of her personality development. This possible correlation has not been explored in a way that includes detailed qualitative analyses of reported experiences of adolescent depression. By discussing a single case design, this contribution illustrates and justifies an interpretative procedure that has been implemented to assist such an exploration. The paper focuses on the suitability of this approach for the investigation of all-encompassing (...) alterations of the experiential field in psychopathological conditions. I argue that this suitability is grounded in a phenomenological understanding of the explicative task in terms of a disclosure of the intentional constitution of the life-world of adolescent depression. The discussion begins with a contextualization of the single case design within a multilayered and methodologically mixed study. Against this background, I illustrate the steps of a ‘systematic of interpretation’ aimed at exposing meaning horizons. Touching on issues concerning the empirical validity of the approach, these meaning horizons are construed as objectively plausible frames of intelligibility of a subjectively particular form of experience. Drawing on a characterization of transcendental arguments, I discuss the relationship between the illustrated procedure and the investigational attitude that, according to Husserl, defines phenomenology as a properly philosophical endeavor. In this context, I eventually characterize the illustrated procedure as a crossover approach to human experiential life aligned with the tradition of phenomenological psychopathology. (shrink)