Finance ethics have drawn increasing attention from both government regulators and academic researchers. This paper addresses the issue of insider trading ethics. Previous studies on insider trading ethics have failed to provide convincing arguments and consistent results. In particular, the arguments against insider trading are based primarily on moral and philosophical grounds and lack empirical rigor. This study intends to establish and examine the relationship between the ethical issue and economic issue of insider trading. We argue that the ethics of (...) insider trading is in essence an economic rather than a moral issue. It is so far not clear to what extent insider trading may increase or decrease shareholders wealth. Until then, we must take care to avoid over-regulating insider trading. (shrink)

Potentiality and actuality are a pair of fundamental categories of the materialist dialectic. Here I would like primarily to examine potentiality.

Challenging the way critical thinking is often considered a skill, this article explores possible discursive reasons for the skill-orientation and technicization of this concept. First, using Michel Foucault’s ‘division and rejection’ theory as a discursive analytical lens, the discussion explores the neoliberal alliance of international organizations, national governmental authorities, the media, job markets, schools, and concerned parents. It explores how this alliance promotes the discourse of skill and competence, and prepares the ground for critical thinking’s technicization. Drawing further on Foucault’s (...) decoding of human capital as the essence of neoliberalism, the article explores the way that the technicization of critical thinking fits with a conception of human beings as a complex mix of production and consumption, where, as homo economicus, they become entrepreneurs of themselves. Second, in the light of Foucault’s discursive analytical conception of the will to truth, the article traces a possible historical underpinning of critical thinking’s technicization. It argues that power-knowledge, the dark side of Enlightenment technological rationality, creates an increasingly technical conception of the world that tampers with the criticality of critical thinking. If critical thinking does not render people aware of the power impinging on them, it loses its value and meaning. The article proposes that critical thinking should rather be conceived along the lines of a Foucauldian conception of critique: the art of not being governed, which takes inspiration from Kant’s conception of enlightenment. It explores how to practise Foucauldian critical thinking, how Foucault’s technology of the self can be enacted as the protector of subjectivity against the governmentality of power. (shrink)

Online education was once considered a convenient and flexible educational chan­nel. However, COVID-19 forced most teachers and students to have no other option but to move lessons online. Academic publications on online presence can be categorised into two independent fields: theoretical discussions and practical frameworks for improving online presence. Among these publications, some authors are holding pessimistic attitudes towards the idea of online presence. Some of them, following Heideggerian Gelassenheit, argue that online education is more or less a result of (...) participants’ exhibition of controlled and judgemental performances due to its disembodiment, which freezes the reality and is devoted to calculative thinking. Others, following the Levinasian phenomenology of the face, claim that online education, with the screen as the barrier, jeopardises the embodied sensitivity and responsiveness of teachers’ ethical attuning to students. To negotiate with these authors, we would like to remind them of its possibility. Therefore, we draw on Merleau-Ponty’s phenomenology of embodiment to introduce an opinion confirming online presence in education. We then point out the danger of reducing learning to the state of being present in classes, whether bodily or virtually, by inviting readers to rethink “absence” as a concealed side of presence and to confirm the roles of absence and presence in co-constructing a person’s perception of things. We thus emphasise the importance of teachers’ and students’ intentionality to teach or to learn, which determines the effects of online education. Finally, this study concludes with a post-digital view that beckons us to transcend the current debate of teaching online or offline, recognising a blurred boundary between the virtual and bricks-and-mortar modes of education. (shrink)

The present study investigated the mediating role of negative emotion in the relationship between cybervictimization and non-suicidal self-injury, and the moderating role of friendship quality in the indirect relationship. This model was tested with 1,326 Chinese adolescents who suffered from cyberbullying in the last 1 year; 727 were boys and 591 were girls, and their mean age was 13.67 years. Participants filled out questionnaires regarding cybervictimization, negative emotion, friendship quality, and non-suicidal self-injury. After demographic variables were controlled, cybervictimization was significantly (...) positively associated with non-suicidal self-injury. Mediation analysis revealed that negative emotion partially mediated the association between cybervictimization and non-suicidal self-injury. Moderated mediation analysis further indicated that the mediated path was weaker for adolescents with higher levels of friendship quality. These findings underscore the importance of identifying the mechanisms that moderate the mediated path between cybervictimization and non-suicidal self-injury among adolescents. (shrink)

EDITOR’S ABSTRACTThis article argues that the early Laozi text underwent three stages: The first had section divisions on the basis of the meaning. The second stage was the formative period of the Laozi text influenced by cosmological numerology; the Silk Manuscript version A is its testimony. The third stage finalized the text through the canonization of the Classic by Emperor Jing; it is represented by the Peking University Han Bamboo Slips, Yan Zun, and Liu Xiang versions and became the received (...) edition. From the Han Bamboo Slips to the Liu Xiang version, the Laozi’s two parts and section numbering became increasingly balanced and symmetric. Ding urges scholars to pay attention to all these developments when studying the Laozi text. (shrink)

Affordances are possibilities for action offered by the environment. Recent research on affordances holds that there are differences in how people experience such possibilities for action. However, these differences have not been properly investigated. In this paper I start by briefly scrutinizing the existing literature on this issue, and then argue for two claims. First, that whether an affordance solicits action or not depends on its relevance to the agent’s concerns. Second, that the experiential character of how an affordance solicits (...) action depends on the character of the concern to which it is relevant. Concerns are conceived of as bodily forms of responsiveness, and solicitations are experienced through this responsiveness. The main aim of this paper is to make clear that an understanding of experiential differences in solicitations has to be based on a phenomenological appreciation of how one experiences one’s responsiveness to those solicitations. In the remainder of the paper I show how such a phenomenological appreciation reveals several characteristics of our responsiveness and I briefly explore three of them: valence, force and mineness. In the final section I discuss the self-referentiality of affordances in light of the current proposal, and argue that this self-referentiality is broader than is typically acknowledged. (shrink)

The term “know” is one of the ten most common verbs in English, and yet a central aspect of its usage remains mysterious. Our willingness to ascribe knowledge depends not just on epistemic factors such as the quality of our evidence. It also depends on seemingly non-epistemic factors. For instance, we become less inclined to ascribe knowledge when it’s important to be right, or once our attention is drawn to possible sources of error. Accounts of this phenomenon proliferate, but no (...) consensus has been achieved, decades of research notwithstanding. Alexander Dinges offers a fresh examination of this ongoing debate. After reviewing and complementing relevant data from both armchair and experimental philosophy, he assesses extant accounts of this data including semantic, metaphysical, pragmatic, doxastic as well as more recent psychological accounts. Against this background, he offers a novel psychological account based on the idea that non-epistemic factors affect estimates of probability. (shrink)

ABSTRACTResearch on the development of selective trust has shown that young children do not indiscriminately trust all potential informants. They are likely to seek and endorse information from individuals who have proven competent or benign in the past. However, research on trust among adults raises the possibility that children might also be influenced by the emotions expressed by potential informants. In particular, they might trust individuals expressing more positive emotion. Indeed, young children’s trust in particular informants based on their past (...) behaviour might be undermined by their currently expressed emotions. To examine this possibility, we tested the selective trust of fifty 4- and 5-year-olds in two steps. We first confirmed that children are likely to invest more trust in individuals expressing more positive emotion. We then showed that even if children have already formed an impression of two potential informants based on their behavioural record, their choices about whose claims to trus... (shrink)

It has been argued that affordances are not meaningful and are thus not useful to be applied in contexts where specifically meaningfulness of experience is at stake (e.g. clinical contexts or discussions of autonomous agency). This paper aims to reconceptualize affordances such as to make them relevant and applicable in such contexts. It starts by investigating the ‘ambiguity’ of (possibilities for) action. In both philosophy of action and affordance research, this ambiguity is typically resolved by adhering to the agents intentions (...) and concerns. I discuss some recent accounts of affordances that highlight these concerns but argue that they tend to adopt an ‘atomistic’ approach where there is no acknowledgement of how these concerns are embedded in the agents wider concerns, values, projects and commitments. An holistic approach that does acknowledge this can be found in psychological research on agents having a sense of what they’re doing. I will discuss this research in the second part of the paper and argue that agents can analogously have a sense of what is afforded. This is deemed the entry point for understanding the meaningfulness of affordances. In the final part of the paper I apply this analysis to recent attempts which seek to make sense of authentic and autonomous agency in terms of affordances. (shrink)

Moderate pragmatic invariantism (MPI) is a proposal to explain why our intuitions about the truth-value of knowledge claims vary with stakes and salient error-possibilities. The basic idea is that this variation is due to a variation not in the propositions expressed (as epistemic contextualists would have it) but in the propositions conversationally implicated. I will argue that MPI is mistaken: I will distinguish two kinds of implicature, namely, additive and substitutional implicatures. I will then argue, first, that the proponent of (...) MPI cannot appeal to additive implicatures because they don’t affect truth-value intuitions in the required way. Second, I will argue that the proponent of MPI cannot appeal to substitutional implicatures either because, even though they may have the required effects on truth-value intuitions, they don’t feature in the relevant cases. It follows that MPI is mistaken because whether the proponent of MPI appeals to additive or substitutional implicatures, at least one of the claims that make up her view is false. Along the way, I will suggest principles about implicatures that should be relevant not only to MPI, but to pragmatic accounts of seemingly semantic intuitions in general. (shrink)

Business moral values are defined as the personal moral values held by individuals who are engaged in business interactions. Direct supervisors may play an important role in shaping the business moral values of their subordinates. Using 264 supervisor— subordinate dyadic data from Taiwanese organizations, the study investigated the relationships among supervisor business moral values, subordinate business moral values, subordinate organizational commitment, job performance, and attendance. The results indicated that supervisor business moral values were positively associated with subordinate business moral values, (...) and that the latter mediated the relationship between the former and subordinate outcomes. Implications for business moral values research are discussed. (shrink)

This article brings together two sets of data that are rarely discussed in concert; namely, disagreement and testimony data. I will argue that relativism yields a much more elegant account of these data than its major rival, contextualism. The basic idea will be that contextualists can account for disagreement data only by adopting principles that preclude a simple account of testimony data. I will conclude that, other things being equal, we should prefer relativism to contextualism. In making this comparative point, (...) I will also defend self-standing relativist accounts of disagreement and testimony data. (shrink)

Theoretical evidence suggests that corporate social irresponsibility (CSI) should produce long-lasting negative influences on firm performance. Yet, little empirical evidence exists in the literature to support this time-embedded research frame. This research was conducted by collecting a large set of firm data and by employing a series of vector autoregressive models to map out the longitudinal dynamic relationships between CSI and firm value under high versus low levels of two external factors, environmental dynamism and competition intensity, and one internal factor, (...) firm capability. The results show that CSI’s negative influences endure in scenarios such as high dynamism, high competition intensity, and low capability, but it has only a short-term impact on low-dynamism markets and does not produce significant effects on firm value under low-competition or high-capability conditions. These findings yield useful implications for CSI, resource-based theory, and environment theories as well as for managerial effectiveness of coping with social negativities. (shrink)

This book explores how one can bring about changes in the brain through meditation, both through attention-focus training and through compassion training. Recent findings in the natural sciences have confirmed that it is possible for humans to achieve these structural and functional changes through various life-style practices. It is argued that meditation enables us to influence some aspects of our biological make-up and, for example, could boost our cognitive flexibility as well as our ability to act compassionate. Such changes are (...) likely to facilitate the instilling of a number of epistemic virtues which have great bearing on our quality of life. This book offers the reader an accessible introduction to a set of neuro-enhancement methods, with a special focus on meditation techniques, and explores how such practices could contribute to make us better decision-makers and improve our moral virtues. The book is suitable for anyone looking for a text discussing the effects of neuro-enhancement from a secular ethics perspective. (shrink)

Many experiential properties are naturally understood as dispositions such that e.g. a cake tastes good to you iff you are disposed to get gustatory pleasure when you eat it. Such dispositional analyses, however, face a challenge. It has been widely observed that one cannot properly assert “The cake tastes good to me” unless one has tried it. This acquaintance requirement is puzzling on the dispositional account because it should be possible to be disposed to like the cake even if this (...) disposition has never been manifested. We argue that familiar response strategies on behalf of the dispositionalist fail. These include appeals to conversational implicatures, expressivism, semantic presuppositions and norms of assertion. Against this background, we propose a new analysis in terms of what we call tendencies, where a tendency is a disposition that has been manifested. The acquaintance requirement comes out as an entailment. We point out a hitherto unnoticed parallel to sentences ascribing character traits such as “Hannah is brave,” and extend our tendency-based analysis to this domain. (shrink)

EDITOR’S ABSTRACTThe popular Chinese portrayal of the victory of Confucianism, or in Chinese terms “dismiss the hundred schools of thought and revere only the Confucian arts,” has been challenged by some scholars in the past decades. Ding’s essay illustrates not only how it has been challenged but also how the catch phrase influences the scholarly discussion. As he indicates, recent Chinese studies that attempt to subvert the traditional theory share the same “flow.” They fail to note that the expression (...) “dismiss the hundred schools of thought and revere only the Confucian arts” has had very negative connotations since it was invoked by Yi Baisha 易白沙 to harshly denounce Confucianism for being responsible for the centuries-long Chinese autocracy. (shrink)

This study examines the effects of corporate social responsibility (CSR) performance of Chinese firms on the formation of cross-border alliances with partners in developed countries. We use signaling theory and the co-evolutionary perspective as bases in proposing that the signaling effects of CSR performance on cross-border alliance formation are subject to the influences of subnational, national, and cross-national institutions. By using a longitudinal data set, we find that the signaling effects of CSR performance on cross-border alliance formation emerged only after (...) a national system of CSR-related institutions had been established. Once this framework was set up, the effectiveness of CSR as a signal was subject to subnational (intra-country) and cross-national (inter-countries) institutional differences. We conclude that combining signaling theory with the co-evolutionary perspective contributes to CSR research in emerging markets. (shrink)

Episodic memories can no longer be seen as the re-activation of stored experiences but are the product of an intense construction process based on a memory trace. Episodic recall is a result of a process of scenario construction. If one accepts this generative framework of episodic memory, there is still a be big gap in understanding the role of the narrative self in shaping scenario construction. Some philosophers are in principle sceptic by claiming that a narrative self cannot be more (...) than a causally inefficacious attributed entity anyway. Thus, we first characterize a narrative self in detail and second we clarify its influential causal role in shaping our episodic memories by influencing the process of scenario construction. This happens at three stages, namely at the level of the input, the output and the process of scenario construction. (shrink)

The energy-limited time-varying formation control problem of second-order multiagent systems is addressed for both leaderless and leader-following communication topologies in this paper. Different from the previous results, the joint consideration of energy limitation and formation design is more challenging and practical. First, an ETVF control protocol is presented, and the total energy supply is pregiven and limited, which is more common in practical applications. Then, by an orthogonal transformation, the formation control problem is converted into the consensus stabilization problem for (...) second-order leaderless MAS, where sufficient conditions for the ETVF are derived by joint design of control gains and the total energy. At the same time, the explicit formula that forms the formation center function is obtained to depict the macroscopic movement of the multiagent system as a whole. Moreover, the proposed method is also extended to the leader-following communication structure. Finally, two examples are given to verify the effectiveness of our theoretical results. (shrink)

This article is designed to explore the concept of the social sphere and its relations to public life. `Social sphere' here refers to a societal self-organization to create a common cultural landscape on which various forms of performance and public drama are staged, and through which a social bond among strangers is created and public life maintained. It is argued that different societies have different kinds of social spheres with distinctive forms of cultural performance, and thus create various types of (...) public life. Through a genealogical exploration, four kinds of social spheres (religious ceremonies, public festivals, recreation and consumption), associated with four types of performance (ritual, spectacular, theatrical and magical) are identified. The social transformation of the nature of public life is thereby explored. It is here that I see the structural source of modern individualism and its relations to cultural performance. (shrink)

Based on the assumption that the long-term value of a venture capital satisfies the algebraic Brownian motion, we develop a continuous-time exit model of venture capital under different exit modes, namely, initial public offering and mergers and acquisitions. The employee incentive problem is analyzed jointly with the exit decision of the firm in terms of the exit timing and the exit mode. Further, the problem of capital exit is considered from two perspectives, namely, optimal venture capital and social welfare maximization, (...) and the differences between these exit decisions are compared. Our model predicts that the timing of an IPO, the purpose of which is to maximize the utility of the capitalists, lags behind the exit timing, whose purpose is to maximize social welfare. Using a numerical analysis, this paper also proves that increasing the production efficiency, lowering the interest rates, and improving risk management can make the exit decision of venture capitalists converge with that of maximizing social welfare. (shrink)

Communication can be risky. Like other kinds of actions, it comes with potential costs. For instance, an utterance can be embarrassing, offensive, or downright illegal. In the face of such risks, speakers tend to act strategically and seek ‘plausible deniability’. In this paper, we propose an account of the notion of deniability at issue. On our account, deniability is an epistemic phenomenon. A speaker has deniability if she can make it epistemically irrational for her audience to reason in certain ways. (...) To avoid predictable confusion, we distinguish deniability from a practical correlate we call ‘untouchability’. Roughly, a speaker has untouchability if she can make it practically irrational for her audience to act in certain ways. These accounts shed light on the nature of strategic speech and suggest countermeasures against strategic speech. (shrink)

Assertions have a curious relationship to certainty. On the one hand, it seems clear that we can assert many everyday propositions while not being absolutely certain about them. On the other hand, it seems odd to say things like ‘p, but I am not absolutely certain that p’. In this paper, I aim to solve this conundrum. I suggest a pretense theory of assertion, according to which assertions of p are proposals to act as if the conversational participants were absolutely (...) certain of p. I suggest that this explains why absolute certainty is not required to make assertions, while it is still problematic to voice your uncertainties once you have made an assertion. By voicing your uncertainties, you thwart your very own proposal to act as if everybody was absolutely certain. (shrink)

Based on evidence from press articles covering 39 corporate fraud cases that went public during the period 1992-2005, the objective of this article is to examine the role of managers' behavior in the commitment of the fraud. This study integrates the fraud triangle (FT) and the theory of planned behavior (TPB) to gain a better understanding of fraud cases. The results of the analysis suggest that personality traits appear to be a major fraud-risk factor. The analysis was further validated through (...) a quantitative analysis of keywords which confirmed that keywords associated with the attitudes/rationalizations component of the integrated theory were predominately found in fraud firms as opposed to a sample of control firms. The results of the study suggest that auditors should evaluate the ethics of management through the components of the TPB: the assessment of attitude, subjective norms, perceived behavioral control and moral obligation. Therefore, it is potentially important that the professional standards that are related to fraud detection strengthen the emphasis on managers' behavior that may be associated with unethical behavior. (shrink)

Journal of Chinese Philosophy, EarlyView.

This study uses the institutional perspective to examine the interaction effects between the subnational institutional context and firm-level parameters on corporate environmental behaviors, based on a unique cross-sectional data set of private firms compiled from three different sources in China. Our results suggest that both enforcement stringency of environmental regulations at the provincial-level and private firms’ foreign ownership negatively affect compensation fees, which are levies charged for firms’ emissions. Enforcement stringency also moderates the firm-level relationship between foreign ownership and compensation (...) fees, but such a cross-level moderating effect holds only for private firms with non-HMT investments. (shrink)