Business Ethics, the Environment & Responsibility, EarlyView.

Constitutivism argues that the source of the categorical force of the norms of rationality and morality lies in the constitutive features of agency. A systematic failure to be guided by these norms would amount to a loss or lack of agency. Since we cannot but be agents, we cannot but be unconditionally guided by these norms. The constitutivist strategy has been challenged by David Enoch. He argues that our participation in agency is optional and thus cannot be a source of (...) categorical demands. In this paper, I defend the viability of constitutivism by showing that agency is indeed a special ‘inescapable’ enterprise. Agency has the largest jurisdiction, and it is closed under rational assessment. This inescapability does not exempt constitutivism from raising the question whether agents have reason to be agents, but this question has to be taken up within agency. If this question is answered affirmatively, then—I argue—the criteria of practical correctness are self-ratifying in a non-circular way. This is sufficient to show the viability of the constitutivist strategy. Whether agents have conclusive reasons to be agents, however, is a matter to be addressed in the terms of particular versions of constitutivism. (shrink)

It is often argued that future-directed decisions are effective at shaping our future conduct because they give rise, at the time of action, to a decisive reason to act as originally decided. In this paper, I argue that standard accounts of decision-based reasons are unsatisfactory. For they focus either on tie-breaking scenarios or cases of self-directed distal manipulation. I argue that future-directed decisions are better understood as tools for the non-manipulative, intrapersonal division of deliberative labor over time. A future-directed decision (...) to ϕ gives rise to a defeasible exclusionary reason to ϕ. This reason is grounded on the default authority that is normally granted to one’s prior self as an “expert” deliberator. I argue that this kind of exclusionary reason is the only one that can account for the effectiveness of future-directed decisions at shaping our diachronic agency without violating our autonomy over time. (shrink)

This article analyzes the relationship between corporate social responsibility (CSR) decoupling and financial market outcomes. CSR decoupling refers to the gap between CSR disclosure and CSR performance. More specifically, we analyze the effect of CSR decoupling on analysts’ forecast errors, cost of capital, and access to finance. We also examine the moderating effect of forecast errors on relationships between CSR decoupling and cost of capital and access to finance. For a sample of U.S. firms consisting of 7,681 firm-year observations for (...) the period 2006–2015, our empirical evidence supports the idea that a wider gap results in higher analysts’ forecast errors, a greater cost of capital, and reduced access to finance. In addition, our results show that forecast errors enhance the effect of the CSR decoupling on cost of capital and access to financial resources. We also note that external monitoring, in the form of greater analysts’ coverage, reduces CSR decoupling. (shrink)

In this paper, I discuss whether there are genuinely *diachronic* constraints of practical rationality, that is, pressures on combinations of practical attitudes over time, which are not reducible to mere synchronic rational pressures. Michael Bratman has recently argued that there is at least one such diachronic rational constraint that governs the stability of intentions over time. *Pace* Bratman, I argue that there are no genuinely diachronic constraints on intentions that meet the stringent desiderata set by him. But I show that (...) there are at least two synchronic rational constraints with distinctive and important, although only indirect, diachronic dimensions. Neither of them, however, supports the practical conservatism in the face of normative underdetermination that, according to Bratman, is part and parcel of the diachronic rationality of intention stability. (shrink)

In this paper, I will discuss the various ways in which intentions can be said to be conditional, with particular attention to the internal conditions on the intentions’ content. I will first consider what it takes to carry out a conditional intention. I will then discuss how the distinctive norms of intention apply to conditional intentions and whether conditional intentions are a weaker sort of commitments than the unconditional ones. This discussion will lead to the idea of what I call (...) the ‘deep structure’ of intentions. Roughly, this is the idea that the conditional nature of our intentions is only partially made explicit in the expressions we use to communicate our intentions and in the explicit form of our thinking about and reasoning with them. Most conditions that qualify our intentions are part of a deep functional structure that can be evinced by observing the actual psychological functioning of intentions and by considering the rational requirements that they engage. I will argue that the deep structure of intentions is characteristically conditional. Genuinely unconditional intentions are only limiting instances of conditional intentions and their contribution to agency can only be understood in light of this fact. I will conclude by showing that the characteristic conditional structure of intentions is intimately related to distinctive features of human agency, especially to its unity over time. (shrink)

For the period 2015–2019 and based on a Spanish sample of 145 listed companies, this paper provides insights into how narcissistic chief executive officers (CEOs) influence the proportion of women in top management teams (TMTs). As a further analysis and in line with social psychology and upper echelons theories, we study whether the power and gender of a CEO and the female proportion in the firm's board moderate the relationship. Our results reveal that narcissistic CEOs are less likely to support (...) women in TMTs, confirming that CEO personality traits influence team structure. Further results suggest that this aversion increases as the CEO's power grows and is a woman, and when female proportion in board decreases. The results have an impact on the gender equality goal, demonstrating that the behavior of women toward promoting gender equality in TMTs depends both on the specific position of women in the firm's hierarchy and on their personal psychological attributes. We find that women directors support social identity values and that narcissistic female CEOs act like queen bees. (shrink)

In this paper, I argue against the popular philosophical thesis---aka the ‘own action condition’---that an agent can only intend one’s own actions. I argue that the own action condition does not hold for any executive attitude, intentions included. The proper object of intentions is propositional rather than agential (‘I intend that so-and-so be the case’ rather than ‘I intend to do such-and-such’). I show that, although there are some essential de se components in intending, they do not restrict the content (...) of intentions to one’s own actions. I then discuss the special way in which one’s own actions can figure in the content of one’s intentions, which shows that the distinction between intending and acting is less stark than it appears at first. This is a conclusion that many defenders of the own action condition might find appealing but which, I argue, is better supported by rejecting the own action condition. (shrink)

According to constitutivism, the objective authority of practical reason is to be grounded in the constitutive features of agency. In this paper, I offer a brief survey of the basic structure of constitutive argument about objectivity and consider how constitutivism might dispel the worry that it can only ground a conditional kind of authority. I then consider David Enoch’s original shmagency challenge and the response in terms of the inescapability of agency. In particular, I revisit the appeal to inescapability in (...) light of Enoch’s restatement of the challenge in 'Shmagency Revisited'. I argue that the revised challenge still fails but that it helps clarify: first, the distinction between external and internal challenges to constitutivism, and, second, the existence of at least different kinds of inescapability of agency (metaphysical, psychological, and dialectical). I argue that only dialectical inescapability is helpful to show that constitutivism is a viable metanormative theory. I conclude by claiming that an internal challenge to constitutivism is still possible in principle but that the burden of proof has shifted once again to the critics of constitutivism. (shrink)

This research focuses on examining the relationship between some attributes of assurance providers and the level of sustainability assurance. By using the propensity to issue negative conclusions in the assurance statement as an indicator of the level of assurance, we examine whether the brand name and industry specialisation of the practitioners have an impact on the assurance opinion issued. Using an international sample of 1233 firm-year observations over the period 2007–2014, the findings document the impact of the brand reputation and (...) industry specialisation of assurance providers on the level of assurance. The probability of detecting material errors and omissions in a sustainability report is higher if it is verified by a Big 4 auditing firm and by an industry expert as an assurance practitioner. The greater experience in providing audit services and the relevant skills and training provided by Big 4 firms, as well as the greater knowledge and experience of industry experts, increase the propensity to report more accurate opinions about a sustainability report. The findings are robust for alternative measures for the level of assurance and the industry specialisation. (shrink)

There are two standard conceptions of the functioning of and rationale for the diachronic will, i.e., for an agent's capacity to settle on her future conduct in advance. According to the pragmatic-instrumentalist view, the diachronic will benefits us by increasing the long-term satisfaction of our rational preferences. According to the cognitive view, it benefits us by satisfying our standing desire for self-knowledge and self-understanding. Contrary to these views, I argue for a constitutive view of the diachronic will: the rationale for (...) it is that it makes possible to engage in activities with a radically novel temporal structure, activities that are not merely continuous over time, but temporally integrated and unified. These activities are essential to our form of life and to our existence as temporally unified agents. The instrumental and cognitive benefits, if any, are merely secondary to the ontological ones. (shrink)

Lawlor argues that social psychological studies present a challenge to the authorship account of first-person authority. Taking the deliberative stance does not guarantee that self- ascriptions are authoritative, for self-ascriptions might be based on elusive reasons and thus lack agential authority (i.e. they are no guide to the subject's future conduct). I argue that Lawlor's challenge is not successful. I claim that we can make sense of the nature and importance of agential authority only within the framework of the authorship (...) account. Agential authority is part of the regulative ideal of the deliberative stance, but its lack does not undermine the first-person authority of self-ascriptions, since first-person authority is primarily a matter of deliberative authorship. (shrink)

We highlight how Corporate Social Responsibility can be strategically used against the negative perception from earnings management. Using international data, we analyse the effect of CSR and EM on the cost of capital and corporate reputation. Results confirm that CSR strategy is positively valued by investors and other stakeholders. Contrary to EM, CSR has a positive effect on corporate reputation and lowers the cost of capital. In addition, we also find that the favourable effect of CSR on cost of capital (...) is consistently more intense in firms that show signs of EM indicating that the market does not identify when CSR practices are used as a strategy to mask EM. We also demonstrate how institutional factors influence the above relationship. (shrink)

This paper aims to examine the credibility value of sustainability assurance and the type of assurance provider on cost of capital. A large sample of international companies from the period 2007–2014 was used to develop our models of analysis. We find a greater decrease in cost of capital for companies that publish and assure their social and environmental reports. Thus, voluntary sustainability disclosures decrease the cost of capital. However, companies also have the opportunity to reinforce this decrease by providing an (...) assurance statement, so increasing the credibility of corporate social responsibility information. In addition, the decrease in the cost of capital is significantly higher when such assurance is provided by a top-tier accountancy firm instead of by engineering or consultancy firms; this result supports also the reputational capital of accountancy firms. (shrink)

In this paper I investigate whether there are genuine and irreducible pressures of diachronic rationality grounded on the structure of the subject rather than on substantive considerations, such as pragmatic ones. I argue that structural pressures of diachronic rationality have a limited scope. The most important pressure only tells against arbitrary interference with the mechanisms for the retention of attitudes over time. I then argue that in the practical case, a substantial account in terms of the agent's temporal identity appears (...) more promising than a purely structural one, but in the end it still leaves many questions about diachronic practical rationality underdetermined. (shrink)

School choice advocacy is dominated by perspectives that reflect a tendency to regard public schooling as a private service commodity. In recent years, numerous works of Anglo-American political philosophy, sociology and legal theory have attempted to restore a conception of public schooling as an institution that cultivates civic virtue. Counterintuitively, these works also endorse prudently regulated school choice as a means of honouring public purposes while accommodating pluralism within liberal democracies. Four such recent works help outline the salient dimensions of (...) this perspective and the disputes within it. While not a political panacea, this perspective ought to inform public deliberations about school choice and public education generally in Anglophone nations. (shrink)

What contributions could we expect from Catholic Social Teaching (CST) on human dignity in relation to the dignity of work? This essay begins with an explanation of CST and its relevance for secular audiences. It then proceeds to identify the main features of human dignity based on the notion of imago Dei in CST. Next comes an analysis of the dignity of work in CST from which two normative principles are derived: the precedence of duties over rights and the priority (...) of the subjective dimension of work over the objective dimension. Afterwards, the “right to work” and the “rights of workers” are engaged with from this normative perspective, particularly within the context of globalization. (shrink)

Quantum theory is one of the most fascinating and successful constructs in the intellectual history of mankind. Nonetheless, the theory has very shaky philosophical foundations. This book contains thoughtful discussions by eminent researchers of a spate of experimental techniques newly developed to test some of the stranger predictions of quantum physics. The advances considered include recent experiments in quantum optics, electron and ion interferometry, photon down conversion in nonlinear crystals, single trapped ions interacting with laser beams, atom-field coupling in micromaser (...) cavities, quantum computation, quantum cryptography, decoherence and macroscopic quantum effects, the quantum state diffusion model, quantum gravity, the quantum mechanics of cosmology and quantum non-locality along with the continuing debate surrounding the interpretation of quantum mechanics. -/- Audience: The book is intended for physicists, philosophers of science, mathematicians, graduate students and those interested in the foundations of quantum theory. (shrink)

An outstanding reference source to the key issues, problems, and debates in this exciting subject. Comprising 42 chapters it is essential reading for students and researchers within philosophy of action, philosophy of mind, metaphysics, philosophy of psychology and ethics.

This chapter discusses the structure of our temporally extended agency. We do not have the power to act directly at a distance, so any of our temporally extended projects must be sustained over its temporal unfolding by momentary actions. We need both the capacity to organize these momentary steps in light of a synoptic overview of the extended activity as a whole and to sustain our motivation to continue to pursue the extended activity. Hence, the distinctive mode in which we (...) act over time is that of ’planning agency,’ which requires a form of temporal identification that goes beyond mere psychological continuity. I then discuss the differences in internal structure between merely continuous and integrated activities, and between telic and atelic ones. I provide a taxonomy of the different kinds of temporal goods and values and how these structures might bear on the risk of crisis of meaning in our temporal existence. I then touch briefly on the issue of how our mortality might make a difference to the structure of what we find valuable and how it relates to the temporal features of our agency. In the closing section, I discuss the effects of the moving temporal location of the agent (with her local executive powers) relative to her extended pursuits, including the asymmetries generated by the distinction between past and future stages of the activity and the moving horizon of what the agent can anticipate and (indirectly) control. (shrink)

I investigate the structure of pro-tempore disjunctive intentions: intentions directed at two or more eventually incompatible goals that are nonetheless kept open for the time being, while the agent is waiting to acquire more information to determine which option is better. These intentions are the basic tool for balancing, in our planning agency, rigidity and flexibility, stability and responsiveness to changing circumstances. They are a pervasive feature of intentional diachronic agency and contribute to secure dynamic consistency in our plans. I (...) show how they differ from simple disjunctive intentions, where the agent is indifferent between the options. I argue that pro-tempore disjunctive intentions meet the distinctive pressures of intentions and that, contrary to the initial impressions, they are both stable and successful at settling practical matters. In closing, I argue that pro-tempore disjunctive intentions are all-out intentions that are more explanatorily powerful than Holton's "partial" intentions. (shrink)

Milton Friedman famously stated that the only social responsibility of business is to increase its profits, a position now known as the shareholder model of business. Subsequently, the stakeholder model, associated with Edward Freeman, has been widely seen as a heuristically stronger theory of the responsibilities of the firm to the society in which it is situated. Friedman’s position, nevertheless, has retained currency among many business thinkers. In this article, we argue that Friedman’s economic writings assume an economy in which (...) businesses operate under the protections of limited liability, which allows corporations to privatize their gains while externalizing their losses. By accepting limited liability, Friedman must also accept a view of business as embedded in social interdependency, which serves as the logical and moral foundation for corporate social responsibility (CSR). To achieve consistency with his economic principles, Friedman must either abandon limited liability or modify his doctrine on CSR and his related shareholder model of business. (shrink)

It is often argued, most recently by Samuel Scheffler, that we should reconcile with our mortality as constitutive of our existence: as essential to its temporal structure, to the nature of deliberation, and to our basic motivations and values. Against this reconciliatory strategy, I argue that there is a kind of immortal existence that is coherently conceivable and potentially desirable. First, I argue against the claim that our existence has a temporal structure with a trajectory that necessarily culminates in an (...) ending. This claim is based on two false assumptions: that a life as a whole calls for narrative structure, and that narratives necessarily require closure as temporal endings. Second, I reject the proposal that temporal finitude is constitutive of the basic elements of diachronic agency, including the nature of deliberation and of our values. I argue that only finitude as scarcity of opportunities is constitutive of these elements. Additionally, scarcity might be present in an endless existence. Therefore, it is not incoherent to conceive of a recognizable and potentially desirable immortality that grounds the core features of diachronic agency. Thus, against the reconciliatory strategy, I conclude that we might never fully reconcile with mortality. Although we might embrace our inescapable mortality as essential to a fuller range of features of our existence, we can still justifiably regret our missing on an immortal existence. (shrink)

There are three ways to control our future conduct: by causing it, by manipulating our future selves, or by taking future-directed decisions. I show that the standard accounts of future-directed decisions fail to do justice to their distinctive contribution in intentional diachronic agency. The standard accounts can be divided in two categories: First, those that conflate the operation of decisions with that of devices for either physical constraint or manipulative self-management. Second, accounts that, although they acknowledge the non-manipulative nature of (...) decisions, offer too restrictive a view of source of their effectiveness over time. I argue that a comprehensive view of decisions must acknowledge that there is a variety of ways in which they can be effective, which range from the exercise of rational authority to the reliance on sub-agential psychological propensities. What keeps all of these mechanisms together as possible explanations of the role of decisions in supporting diachronic intentional agency is that these mechanisms operate under a common regulative ideal of diachronic agency: the agent’s reliance on the continuous sense of the stability of the choiceworthiness of the action, regardless of her prior decision to perform it. In light of this regulative ideal, the contribution of effective decisions to diachronic agency is thus in principle dispensable although usually necessary for limited beings like us. (shrink)

A common feature of all versions of constitutivism is the “simple constitutivist move” to the effect that engagement in any enterprise requires respecting the constitutive standards of the enterpri...

I argue that intending and acting belong to the same genus: intending is a kind of doing continuous in structure with intentional acting. Future-directed intending is not a truly separate phenomenon from either the intending in action or the acting itself. Ultimately, all intentions are in action, or better still, in extended courses of action. I show how the intuitive distinction between intending and acting is based on modeling the two phenomena on the extreme and limiting cases of an otherwise (...) continuous spectrum of the ways in which agents exercise rational active intelligent guidance in the pursuit of goals. I argue that diachronic intentional agency is better understood in terms of continuity and unity of courses of active and intelligent guidance, and that the distinction between intending to do something and doing it is only a derivative and context-dependent segmentation of these continuous courses of rational active intelligent guidance. (shrink)

This paper offers an overview of the ways agents might extend over time and the characteristic structure of extended human agency. Agency can extend in two distinct but combinable modes: the ontological, which gives rise to simple continuous agents; and the conceptual, which gives rise to agents who conceive of and care about distal times, and have minimal planning abilities. Our extended form of agency combines both. But we are still limited by the temporal locality in the operation of our (...) psychological and executive powers. To account for this locality, I introduce the notion of 'temporal selves,' as the loci of immediacy in the agent's determination of their psychology, conduct, and practical standpoint. I argue that the passage of time generates, by itself, the threat of temporal alienation from distant temporal selves. A genuinely extended agency requires temporal identification: the sharing, by separate temporal selves, of a temporally extended and integrated practical standpoint. This temporal identification cannot be produced simply by temporal identity as continuity. What is required is temporal identity in the mode of unity and integration. This identity does not precede temporal identification but is co-constituted with it. I offer a preliminary account of the structure of the units of integration for agents who aspire to persist in the mode of unity and integration. I close with a cautionary note: the complex structure of integration, although familiar in everyday life, is often missed by standard philosophical accounts, which tend to focus on simple models of extended agency. (shrink)

This paper conducts an ethical analysis of the 2008 closure of a US money market fund entitled the reserve primary fund, which triggered the first run in the money market sector and a resultant liquidity crisis that harmed the entire US financial system. Although many academics and regulators have studied and written about RPF, the question whether the decision that caused the fund to collapse represented any ethical dilemma, has not been addressed to date. With this purpose in mind, the (...) paper will examine the events that culminated in the closure of RPF according to Alasdair MacIntyre’s virtue ethics approach. In so doing, the paper aims to extend the applicability of MacIntyre’s concepts to the finance industry in general, and to provide a framework to predict and so potentially prevent crises like that exemplified by the RPF case. (shrink)

Not only individuals and firms, but also families engage in business as a social activity and this is true beyond the case of family businesses. Cultural differences in the way families are construed might influence the way they do business. There are different types of families, and among these are those described by Aristotelian and Confucian traditions, representing the West and the East respectively. The literature on virtue in business has been dominated by a Western—mainly Aristotelian—tradition : 8–24, 2014), neglecting (...) the role of the family and focusing on the individual. In this paper, we seek to fill this gap by explaining differences and similarities in the normative evaluation of certain family-related business attitudes and practices, in light of Confucian and Aristotelian virtue ethics standards. After comparing the structure, organization and dynamics of Aristotelian and Confucian families, we shall draw some inferences regarding “virtuous” or excellent business practices—such as nepotism, bribery, gift-giving and guanxi and attitudes—on codified rules or written norms. For this analysis we shall make use of Aristotelian and Confucian ethical accounts as well as inputs from Family Science applied to organizations, which provides conceptual categories to compare the two traditions. Thus we hope to contribute not only to the comparative study of Aristotelian and Confucian virtue ethics in business, but also to the understanding of the distinctive role of families, raising cultural awareness for what may be considered virtuous business practices according to the Aristotelian and Confucian traditions. (shrink)

The traditional “realist” conception of physics, according to which human concepts, laws and theories can grasp the essence of a reality in our absence , seems incompatible with quantum formalism and it most fruitful interpretation. The proof rests on the violation by quantum mechanical formalism of some fundamental principles of the classical ontology. We discuss if the conception behind Einstein’s idea of a reality in our absence, could be still maintained and at which price. We conclude that quantum mechanical formalism (...) is not formulated on those terms, leaving for a separated paper the discussion about the terms in which it could be formulated and the onto-epistemological implications it might have. (shrink)

This chapter presents Davidson’s account of intentional action and intention. Davidson initially discusses intentional action in relation to the explanation and the ontology of action. His earlier view equates acting intentionally with being caused to act by a pair of appropriately related mental states (a pro-attitude and an instrumental belief) and denies the existence of intentions as distinct mental states. Later, in his account of weakness of will, Davidson offers a more complex account of practical deliberation in terms of evaluative (...) judgments. Finally, in "Intending", Davidson discusses intentions for future action and argues that intentions are all-out evaluative judgments, reversing his earlier position about the non-existence of intentions as distinct and irreducible mental states. (shrink)

For many physicists quantum theory contains strong conceptual difficulties, while for others the apparent conclusions about the reality of our physical world and the ways in which we discover that reality remain philosophically unacceptable. This book focuses on recent theoretical and experimental developments in the foundations of quantum physics, including topics such as the puzzles and paradoxes which appear when general relativity and quantum mechanics are combined; the emergence of classical properties from quantum mechanics; stochastic electrodynamics; EPR experiments and Bell's (...) Theorem; the consistent histories approach and the problem of datum uniqueness in quantum mechanics; non-local measurements and teleportation of quantum states; quantum non-demolition measurements in optics and matter wave properties observed by neutron, electron and atomic interferometry. Audience: This volume is intended for graduate students of physics and those interested in the foundations of quantum theory. (shrink)

What can the philosophy of agency learn from Nguyen’s book on games? The most important lesson concerns, to use Nguyen’s terms, the ‘layered’ structure of our agency and the ‘fluidity’ requ...

[1] Los griegos y nosotros -- 2. Los semitas y nosotros.

El presente trabajo aborda las ideas políticas de Benjamin Constant sobre la Revolución Francesa. Constant es uno de los pensadores más representativos del escenario posrevolucionario francés que ha contribuido a delinear el corpus filosófico del liberalismo clásico. Intentaremos mostrar básicamente dos puntos a partir de los textos que el autor produjo entre Termidor y los primeros años del Imperio: primero, Constant no condena la Revolución Francesa, sino que su filosofía es una defensa de los principios de la Declaración de 1789. (...) Segundo, su crítica se dirige básicamente al denominado “Terror” revolucionario y a sus máximos responsables, los jacobinos. Para ello, Constant entrará en disputa con algunos principios de la filosofía política de Rousseau y por cómo los mismos han sido utilizados por el jacobinismo. Hemos dividido este artículo en tres partes: en la primera analizaremos las nuevas formas de la lectura en la segunda mitad del siglo XVIII que permitieron una amplia divulgación en Francia de las obras de Rousseau. En la segunda, analizaremos el impacto de la filosofía del ginebrino en el ambiente revolucionario, especialmente en el punto más álgido de la hegemonía jacobina. Finalmente, atenderemos al posicionamiento de Constant en torno a la Revolución, Rousseau y los revolucionarios. (shrink)