In this article we examine the association between corporate social responsibility (CSR) and firm value. This line of research is important since firms continue to invest in CSR even though past studies reveal a limited linkage between financial value and CSR. However, the business case for CSR or “doing good while making a profit,” appears to be advancing within the business ethics literature as a preferred conception of CSR. We conjecture that the greater unification and refinement of both profit maximization (...) and stakeholder interests through corporate acts, not statements alone, will sustain the financial value of CSR in a less regulated global business environment. We study the triangle of what companies say, what companies do, and firm financial performance. We analyze Fortune 250 firms and find a positive association between what companies do based on KLD Research and Analytics, Inc. (KLD) ratings, and what companies state about ethics in their CSR statements. We then employ regression analysis and find that companies’ socially responsible acts are positively associated with overall firm value and financial performance. Yet we do not find a statistically significant association between what companies say regarding ethics in their CSR statements and their financial outcomes. These results suggest that firm value and financial performance is associated with what companies do and not what they say. Our results seem to be driven by multinational corporations (MNCs) and not by non‐MNCs. This is possibly because MNCs generally operate in a less regulated global business environment that often necessitates strong ethical corporate leadership to further stakeholder interests. Overall, these results help reconcile corporate and stakeholder objectives since evidence of a link between financial performance and doing good sustains global CSR. (shrink)

Although family business comprises the majority of global business, it is significantly under-researched. Yet it is considered to have unique ethical values compared to non-family corporations. This is attributable to its family orientation. Therefore, it is worthwhile to identify and define dominant family business ethics values. The authors compare a sample of the U.S. family business, U.S. corporate entities, and international family business mission statements for frequency of ethics values. The data reveals three primary findings: (1) generally, the U.S. family (...) business expressed a higher frequency of ethical values than its non-family corporate and international counterpart, (2) U.S. family business has a strong lead in “integrity” and “honesty” whereas international family business leads in “environmentalism,” “globalism,” and “social responsibility,” and (3) generally, the frequency of ethics values for all family business globally has increased over time. The family business mission statement continues to provide ethical direction for the majority of global business. The emerging family business values identified in our sample will further impact global business success and promote ethical sustainability world-wide. (shrink)

Nonprofits are a major part of the U.S. economy and they are not immune from corporate malfeasance controversies. Even Congress has expressed concern about the crisis in nonprofit governance. The nonprofit response to Congress has been a historic initiative recognizing critical challenges to nonprofit governance. In contrast to their for‐profit counterparts, nonprofits are committed to missions serving the public benefit and not to shareholder profits. Accordingly, their missions and financial resources are intrinsic to their very existence, which is built upon (...) the public trust. That trust is rooted in fiduciary responsibility and reflected in best practices. This article traces the history of the nonprofit public trust and fiduciary standards and examines principles of Sarbanes–Oxley and other best practices as they apply to nonprofits. The authors sampled 80 health‐care nonprofit corporation web sites from eight asset classes to determine compliance with Sarbanes–Oxley and identification of fiduciary duty, ethical values, and other best practices. Among the very largest health‐care nonprofits, many comply with Sarbanes–Oxley and identify fiduciary duty, ethical values, and other best practices. However, there are substantial deficiencies in such compliance and identification among all remaining seven asset classes ranging from 99.9 million to less than 100,000. The results appear to corroborate the urgent necessity for reform articulated by the Congress and the nonprofit sector. Nonprofit governance has entered a new era where best practices must be implemented to sustain the public trust. (shrink)

With the great increase in litigation, insurance costs, and consumer prices, both managers and businesses should take a proactive position in avoiding liability. Legal liability may attach when a duty has been breached; many actions falling into this category are also considered unethical. Since much of business liability is caused by a breach of a duty by a business to either an individual, another business, or to society, this article asserts that the practice of liability prevention is a practical business (...) application of ethics. In today's highly litigious environment, it is appropriate for the concept of general liability prevention to be included in corporate codes of ethics. (shrink)

Continual corporate malfeasance signals the need for obeying the law and for enhancing business ethics perspectives. Yet, the relationship between law and ethics and its integrative role in defining values are often unclear. While integrity-based ethics programs emphasize ethics values more than law or compliance, viewing ethics as being integrated with law may enhance understanding of an organization’s core values. The author refers to this integration of law and ethics as “substantive ethics,” analogous to the substantive law that evolves over (...) time, which is applied to ethical breaches and carries sanctions for non-compliance. This article describes the integration of law and ethics as a mid-point between two polar views that define law and ethics either as having no relation or as being one and the same. Since corporations expressly state which laws they follow, a sample of corporate compliance statements is used to demonstrate this integrative mid-point. The sample also reveals that corporate ethics codes rarely express ethics and law as being integrated per se. Therefore, the author creates an example of a securities law compliance statement that is introduced with an integrative perspective of law and ethics. Perhaps such revised corporate codes will encourage corporate respect for both law and ethics and enhance ethical sustainability. (shrink)

Preface: help! my brainchild's been kidnapped! -- Intellectual misconduct: backwards, forward, and sideways -- The world of scholarship: rituals and rewards, norms and departures -- Structural and organizational causes of scholarly misconduct -- Cultural causes of scholarly misconduct -- Individual and situational causes of scholarly misconduct -- Scholarly misconduct as crime -- Criminological theory and scholarly crime -- Implications for theory and research -- Preventing and controlling scholarly crime -- Afterword: against all odds, a code is born.

Can or should God be considered a managerial stakeholder? While at first glance such a proposition might seem beyond the norms of stakeholder management theory or traditional management practice, further investigation suggests that there might be both theoretical and practical support for such a notion. This paper will make the argument that God both is and should be considered a managerial stakeholder for those businesspeople and business firms that accept that God exists and can affect the world. In doing so, (...) part one of the paper first discusses the growth of religion and spirituality within the business and academic communities. Part two raises several arguments based on stakeholder theory and business reality to support the notion of God as a managerial stakeholder. Part three addresses the arguments against God as a managerial stakeholder. Part four discusses the managerial implications of considering God as a managerial stakeholder. The paper concludes with its limitations. (shrink)

The study examines employee, managerial, and ethics officer perceptions regarding their companies codes of ethics. The study moves beyond examining the mere existence of a code of ethics to consider the role that code content and code process (i.e. creation, implementation, and administration) might play with respect to the effectiveness of codes in influencing behavior. Fifty-seven in-depth, semi-structured interviews of employees, managers, and ethics officers were conducted at four large Canadian companies. The factors viewed by respondents to be important with (...) respect to code effectiveness include: provisions of examples; readability; tone; relevance; realism; senior management support; training; reinforcement; living up to standards; reporting requirement; anonymous phone line; communicating violations; and enforcement. The factors found to be potentially important include: justification for provisions; employee involvement; and sign-off requirements. Factors found not to be important include: objectives for the code; prior distribution; testing; and relating ones performance review to compliance with the code. (shrink)

In this essay, I survey egalitarian and utilitarian approaches to the distribution of scarce life-saving medical resources. In my view, the major criterion for the distribution of scarce life-saving medical resources should be life expectancy: we should distribute life so as to maximize life-years. In Section II, I discuss the life-year maximization approach and situate it within utilitarian theory.

Editors’ Note: A major goal of Science and Engineering Ethics is to promote discussion of the ethical issues raised by various aspects of science and engineering, both within the pages of this journal and beyond. We are beginning a series of case presentations and discussions in the Educational Forum. We invite readers to respond to the case and accompanying commentaries, and to submit other cases and commentaries for future publication. We look forward to hearing from you. — S. J. Bird, (...) R. E. Spier. (shrink)

Theories of distributive justice are most severely tested in the area of disability. In this book, Mark Stein argues that utilitarianism performs better than egalitarian theories in this area: whereas egalitarian theories help the disabled either too little or too much, utilitarianism achieves the proper balance by placing resources where they will do the most good. Stein offers what may be the broadest critique of egalitarian theory from a utilitarian perspective. He addresses the work of egalitarian theorists John Rawls, (...) Ronald Dworkin, Amartya Sen, Bruce Ackerman, Martha Nussbaum, Norman Daniels, Philippe Van Parijs, and others. Stein claims that egalitarians are often driven to borrow elements of utilitarianism in order to make their theories at all plausible. The book concludes with an acknowledgment that both utilitarians and egalitarians face problems in the distribution of life-saving medical resources. Stein advocates a version of utilitarianism that would distribute life-saving resources based on life expectancy, not quality of life. Egalitarian theories, he argues, ignore life expectancy and so are again found wanting. _Distributive Justice and Disability _is a powerful and engaging book that helps to reframe the debate between egalitarian and utilitarian thinkers. (shrink)

As public and private resources are increasingly being directed towards the elimination of food deserts in urban areas, proper measurement of food access is essential. Amelioration has been approached through the use of farmers markets, virtual grocery stores, and corner store programs, but properly situating these assets in neighborhoods in need requires localized data on both the location and content of food outlets and the populations served. This paper examines the reliability of current techniques for identifying food deserts, and identifies (...) some of the flaws in those approaches. Information derived from geographic information systems mapping is the predominant means of determining food availability. In this study, food access in Bridgeport, CT, is examined utilizing both computer-based GIS mapping and on-the-ground observations. While the GIS output indicates generalized food accessibility issues, supplementation by survey data reduces the geographic extent of the food desert problem. Still, nearly 60,000 people reside in neighborhoods served only by small retailers who provide few healthy food options, and those at inflated prices. The high opportunity cost of travelling by bus to a major grocery store may outweigh the direct cost savings, and residents choose to consume locally available but unhealthy foods. (shrink)

In this paper we examine Fehr’s notions of “altruism”, “strong reciprocity” and “altruistic punishment” and query his ascription of altruism. We suggest that, pace Fehr, altruism cannot be defined behaviourally because the definition of altruism must refer to the motives of actors. We also advert to certain inconsistencies in Fehr’s usage of his terms and we question his explanation of altruism in terms of ‘social preferences’.

A research instrument is developed and preliminarily validated to formally measure the level of national business ethics activity for any country in the world. The seven dimensions measured include (a) academia, (b) business, (c) social or ethical investment, (d) business ethics organizations, (e) government activity, (f) social activist groups, and (g) media coverage. Results from the validation survey and examples are provided for each of the dimensions. The article concludes with future research directions for the instrument.

I offer an appreciation and critique of Ernst Fehr’s altruism research in experimental economics that challenges the "selfishness axiom" as an account of human behavior. I describe examples of Fehr’s experiments and their results and consider his conceptual terminology, particularly his "biological" definition of altruism and its counterintuitive implications. I also look at Fehr’s experiments from a methodological perspective and examine his explanations of subjects’ behavior. In closing, I look at Fehr’s neuroscientific work in experimental economics and question his adherence (...) to a subjective expected utility interpretation of subjects’ behavior. Key Words: altruism • Ernst Fehr • strong reciprocity • neuroeconomics • experimental economics. (shrink)

. Recent corporate scandals have focused the attention of a broad set of constituencies on reforming corporate governance. Boards of directors play a leading role in corporate governance and any significant reforms must encompass their role. To date, most reform proposals have targeted the legal, rather than the ethical obligations of directors. Legal reforms without proper attention to ethical obligations will likely prove ineffectual. The ethical role of directors is critical. Directors have overall responsibility for the ethics and compliance programs (...) of the corporation. The tone at the top that they set by example and action is central to the overall ethical environment of their firms. This role is reinforced by their legal responsibilities to provide oversight of the financial performance of the firm. Underlying this analysis is the critical assumption that ethical behavior, especially on the part of corporate leaders, leads to the best long-term interests of the corporation. We describe key components of a framework for a code of ethics for corporate boards and individual directors. The proposed code framework is based on six universal core ethical values: (1) honesty; (2) integrity; (3) loyalty; (4) responsibility; (5) fairness; and (6) citizenship. The paper concludes by suggesting critical issues that need to be dealt with in firm-based codes of ethics for directors. (shrink)

The practice of clinical mental health counseling benefits from the integration of a Catholic Christian meta-model of the person. This paper will briefly define and describe a paradigm that guides the practice of clinical mental health counseling. It will then demonstrate how a Catholic Christian view of the person aligns with and extends the dimensions of the practice paradigm resulting in a deeper understanding for the conceptualization of both presenting clinical concerns and their respective treatment. After describing an integrated model (...) for professional practice, two brief case studies will illustrate its application. Finally, implications for clinical practice and recommendations for research are discussed. (shrink)

Whilst natural scientists have forged close links with industry, economists—in their capacity as consultants—with private enterprise, and psychologists with the burgeoning market for counselling services, philosophers have shown little eagerness to “ply their trade” in any commercial form whatsoever. Indeed, the very juxtaposition of concepts like “philosophy,” “money,” and “the marketplace” may already have raised eyebrows or induced mocking smirks. The image of this unworldly species assuming a commercial role comparable in scope or nature to that of practitioners of other (...) disciplines is scarcely imaginable. Thus, the peculiar nature of philosophy—its “subject matter,” “method,” or “corpus of knowledge”—provides one reason for prima facie scepticism. The advent of philosophical counselling in both Europe and America during the last decade may well shake such scepticism. It is primarily with this development that the authors in this volume of Philosophy in the Contemporary World deal. (shrink)

As nanotechnology emerges as an important public policy issue, the FDA's relationship with society is about to be tested. Most would agree that fostering public input will be critical to developing effective public policy for nanotechnology. Yet, it will not be easy. Low public confidence in the FDA, the general lack of knowledge about nanotechnology among ordinary Americans, and the way in which the “average” citizen obtains and evaluates knowledge about a public policy issue all pose serious challenges to any (...) public outreach by the FDA. It will be necessary for the FDA to be attentive to not only its own public messages, but also to who is listening and how those messages are being perceived. (shrink)

Contrary to Constantin Fasolt, I argue that it is no longer useful to think of religion as an anomaly in the modern age. Here is Fasolt’s main argument: humankind suffers from a radical rift between the self and the world. The chief function of religion is to mitigate or cope with this fracture by means of dogmas and rituals that reconcile the self to the world. In the past, religion successfully fulfilled this job. But in modernity, it fails to, and (...) it fails because religion is no longer plausible. Historical, confessional religions, then, are no longer doing what they are supposed to do; yet the need for religion is still very much with us. Fasolt’s account would be a tragic tale, if not for his claim that there is a new religion for the modern age, a religion that fulfills the true reconciling function of religion. That new religion is the reading and writing of history. Indeed, for Fasolt, reading history is religiously redemptive, and writing history is a sacred act. The historian, it turns out, is the priest in modernity. In my response, I challenge both Fasolt’s remedy and its justification . Indeed, I reject both his romantic view of past religion as the peaceful reconciler, as well as his pessimistic view of present religion as the maker of “enemies” among modern people. In the end, I argue that the way Fasolt employs his categories—“alienation,” “salvation,” “religion,” “history”—is too vague to do much useful work. They are significant categories and they deserve our attention. But in my view, the story Fasolt tells is both too grim and too cheerful. (shrink)

The relationship between the canonical operator and the path integral formulation of quantum electrodynamics is analyzed with a particular focus on the implementation of gauge constraints in the two approaches. The removal of gauge volumes in the path integral is shown to match with the presence of zero-norm ghost states associated with gauge transformations in the canonical operator approach. The path integrals for QED in both the Feynman and the temporal gauges are examined and several ways of implementing the gauge (...) constraint integrations are demonstrated. The upshot is to show that both the Feynman and the temporal gauge path integrals are equivalent to the Coulomb gauge path integral, matching the results developed by Kurt Haller using the canonical formalism. In addition, the Faddeev–Popov form for the Feynman gauge and temporal gauge Lagrangian path integrals are derived from the Hamiltonian form of the path integral. (shrink)

ABSTRACT William Blake's poem Jerusalem, like all Perennial utopias, achieves a dialectical synthesis of the ideal and the actual through the narrative focalization of a religious experience at the level of character, one that is at once transhistorical and universal. By reading the poem through the lens of the Perennial paradigm, we discover that the temporal aspects of Jerusalem are intimately tied to the religious dimensions of Blake's utopian vision. In addition to giving us a new way to understand the (...) well-documented distinctiveness of Blake's religious message, the Perennial paradigm shows Blake's soteriology in Jerusalem to be utopian rather than salvationist. Because of the ultimately subjective nature of apprehension of the Divine Vision, Blake's utopian thought is not “clearly a forward-directed anticipatory and visionary concept,” as Magnus Ankarsjö has recently argued. Blake does not rally the reader towards some “ensuing peaceful millennium” but rather to find enlightenment in the eternal moment. In light of Blake's suspicion of ratiocination, combined with his deliberate use of narrative focalization of Albion's religious vision, reading Jerusalem as a Rational utopia grounded in Judeo-Christian of notions of Apocalypse is to miss Blake's core religious message. (shrink)

What makes inheritable genetic modification attractive is not its ability to treat disease, but its capacity, someday, to enhance human traits beyond what mere good health requires. But, these discoveries will not be imposed on us by government, as Huxley thought. If they take over our lives, it will be because they were sold to us on the open market, as commodities we cannot do without.

Sampson’s hypothesis that the entry of Western society into a post-modern era of “globalization” will necessitate a change in the conceptualization of the person is discussed in light of relevant group process research and current world events. While it does not seem likely that any fundamental change in the theory of the person will occur, it is plausible that the present form of individualism will adapt to the conditions of this new era. 2012 APA, all rights reserved).

Along with concerns about the deleterious effects of politically driven government intervention on science are the intrusion of private sector interests into the conduct of research and the reporting of its results. Scientists are generally unprepared for the challenges posed by private interests seeking to advance their economic, political, or ideological agendas. They must educate and prepare themselves for assaults on scientific freedom, not because it is a legal right, but rather because social progress depends on it.

In order to gain greater insight into the nature of corporate social responsibility (CSR) during a time of crisis, the study examines the commitment of firms to continue to engage in CSR activity despite financial pressures to divert their slack resources elsewhere. The setting of the study is CSR activity during the perhaps unprecedented global crisis associated with the COVID-19 pandemic. Based on a qualitative research method approach, both a variety of media sources and the relevant academic literature are reviewed (...) in order to identify examples of CSR activity related specifically to COVID-19. The examples are then categorized and situated according to Professor Archie Carroll’s well-known CSR Pyramid framework describing the economic, legal, ethical, and philanthropic domains of CSR. As such, this study is the first to extend the rich literature stream utilizing Carroll’s CSR Pyramid within the unique context of a global pandemic. (shrink)

Abstract:Extrapolating from Carroll’s four domains of corporate social responsibility (1979) and Pyramid of CSR (1991), an alternative approach to conceptualizing corporate social responsibility (CSR) is proposed. A three-domain approach is presented in which the three core domains of economic, legal, and ethical responsibilities are depicted in a Venn model framework. The Venn framework yields seven CSR categories resulting from the overlap of the three core domains. Corporate examples are suggested and classified according to the new model, followed by a discussion (...) of limitations and teaching and research implications. (shrink)

This article is a tribute to the late Dr. W. Michael Hoffman's life and professional career (1943–2018), including his important contribution to the business ethics academic community, as well as to the practical world of business. Following a brief summary of Dr. Hoffman's professional achievements, several tributes are provided including from Professor Richard De George, columnist Gael O'Brien, and Professor Patricia Werhane. The tributes are followed by synopses of a small sample of Dr. Hoffman's many journal articles published in several (...) different business ethics journals spanning 35 years (1982–2017). The tribute concludes with a personal note of gratitude by the author to Dr. Hoffman. (shrink)