Based on a contest analysis of the official websites of top 100 companies in China in 2007, the paper reports the social performance of large Chinese companies. We try to focus on and answer the following three questions about CSP of large companies in China: (1) how is their overall social performance?; (2) what are the social issues they addressed?; and (3) what are the stakeholders they addressed? The results are also compared among different ownership (...) companies and among different industrial companies. The findings indicate that CSR/CSP in China is still in the beginning stage, and␣CSR/CSP is different among different industrial companies. (shrink)

This study was an attempt to examine the using intelligent systems to manage risks and reduce financial risks using artificial intelligence in large companies. The data collected from the data is collected from the stock organization and the stock Securities of Iran. Moreover, the data is collected from 17 companies for ten years and the data was collected through the variance formula and then the results were examined using the SSPS method. Variance formula is σ µ 2= (...) xi- 2 /n ( ( )) ∧ ∧ ∑. The data is completely obtained from a reliable and correct source, which is related to the Department of Statistics of Iran’s Stocks and Securities. After categorizing and classifying the collected information and data, it is processed and analyzed, and the results and findings of this study are stated. In order to examine the research questions, appropriate tests (Shefe tests) were used to analyze the data. The analysis of data revealed that the findings of this study reveal that Shatran, Arya, Shebandar, Famili are profitable among other stocks. Other stocks are loss because of high cost of raw materials and sanction of Iran. Moreover, companies could not export their products. Plus, the purchase power of the people in the country decreases because of the inflation of the country, so the companies could not buy anything. On the one hand, liquidity power of people, on the other hand, less export lead to the decrease of cash flow, liquidity power of companies and firms and could not sell their products. It can be concluded that those stocks are loss and have high risk. (shrink)

Is it ethical for a school to accept sponsorship from business, and if so under what conditions? Indeed, given the poor provision of many UK local schools for their pupils is it ethical to refuse business sponsorship? Where does responsibility lie? “To attract and persuade is not an appropriate behaviour in dealing with inexperienced parties.” The author completed her MBA at London Business School in July 1997 and is currently setting up a new family business, The Organic Food Company Ltd.

According to the Carbon Disclosure Project, the world's largest 100 companies are responsible for 71% of global greenhouse gas emissions since 1988. However, seven years after the adoption of the Paris Agreement, these companies' efforts remain insufficient as they have not significantly altered the dangerous trajectory of greenhouse gas emissions. Current methods used to quantify company‐level emissions offer limited insights, often providing overall scores or evaluating CSR's impact on performance. To address this, we developed a refined methodology focusing (...) on the carbon footprint within the environmental dimension. Our methodology, which is extendable to other companies and regions like the London Stock Exchange or S&P 500, assesses the evolution of CAC 40 companies' carbon footprints relative to their revenues. Comparing their progress to sector peers between 2016 and 2020 allows us to track performance, benchmark against industry standards, and identify areas for improvement. Based on their carbon emissions, we categorized companies as leaders, laggards, or non‐reporters, enabling actionable recommendations. Our findings indicate decreased direct emissions but a concerning trend of increasing indirect emissions, suggesting outsourced carbon footprints within the value chain. This raises suspicions of greenwashing practices, warranting further investigation. (shrink)

In light of the many corporate scandals, social and ethical commitment of society has increased considerably, which puts pressure on companies to communicate information related to corporate social responsibility (CSR). The reasons underlying the decision by management teams to engage in ethical communication are scarcely focussed on. Thus, grounded on legitimacy and stakeholder theory, this study analyses the views management teams in large listed companies have on communication of CSR. The focus is on aspects on interest, motives/reasons, (...) users and problems related to corporate communication of CSR information. A questionnaire survey and in-depth interviews confirm that there is a distinct trend shift: towards more focus on CSR in corporate communication. Whilst this trend shift started as a reactive approach initiated by the many corporate scandals, the trend shift is now argued to be of a proactive nature focussed at preventing legitimacy concerns to arise. These findings are significant and interesting, implying that we are witnessing a transit period between two legitimacy strategies. Furthermore, the findings suggest that the way respondents argue when it comes to CSR activities coincides with consequentialism or utilitarianism, i. e. companies engage in CSR activities to avoid negative impacts instead of being driven by a will to make a social betterment or acting in accordance with what is fundamentally believed to be right to do. This provides new input to the ongoing debate about business ethics. The findings should alert national and international policy makers to the need both to increase the vigilance and capacity of the regulatory and judicial systems in the CSR context and to increase institutional pressure to enhance CSR adoption and CSR communication. Furthermore, stakeholders need to be careful in assuming that CSR communication is an evidence of a CSR commitment influencing corporate behaviour and increasing business ethics. (shrink)

The concepts of love and business do not seem to match very well, despite attempts to operationalize love as agape or neighborly love. In line with the emerging literature, this contribution uses a profane and analytical approach to agape as an ‘Agenda for Growth and Affirmation of People and the Environment’. Within this agenda we define agape as ‘the commitment to the well-being and flourishing of others’ and operationalized it to measure the concept in a substantial sample of 420 medium-sized (...) and large companies in The Netherlands. At the core of the research lies the question whether and to what extent companies, represented by senior managers and members of the works council, are committed to the well-being of their employees. This article analyses the concept of agape and its application in a business context and presents the results of a survey. The results show that, on average, respondents report that their organization is committed to employees’ well-being in line with the organization’s values. Though not the aim of agape, since organizations that apply the concept reap tangible business benefits from it, the concept becomes suitable to a wider range of businesses. (shrink)

While the existing literature focuses on the disclosure of social information mainly by large companies, this paper concentrates on the disclosure of social information by small- and medium-sized companies (SME) listed on the Alternative Investment Market (AIM) in the U.K. The paper investigates the prevalent view that SMEs are unlikely to report social information due to their financial constraints and the perception that they have very little social conduct on which to report. Our overall evidence illustrates that, (...) contrary to this view, SMEs report social information regardless of their financial constraints, most likely in the same manner as large companies do, because they realise the significance of social reporting in establishing and retaining their corporate reputation. (shrink)

CSR-PPPs are a new and especially relevant phenomenon in today’s world politics. Little is known, however, about the effects of this “New Mode of GlobalGovernance”. The paper addresses this deficit and presents a theoretical model from which hypotheses about the effects of CSR-PPPs can be deduced. It furthermore illustrates the applicability of the model by generating hypotheses about the effectiveness of CSR initiatives in the large retailer industry sector.

Background Financial relationships between physicians and industry are extensive and public reporting of industry payments to physicians is now occurring. Our objectives were to describe physician recipients of large total payments from these seven companies, and to examine discrepancies between these payments and conflict of interest (COI) disclosures in authors’ concurrent publications. Methods The investigative journalism organization, ProPublica, compiled the Dollars for Docs database of payments to individuals from publically available data from seven US pharmaceutical companies during (...) the period 2009 to 2010. We examined the cohort of 373 physicians in this database who each received USD $100,000 or more in the reporting period 2009 to 2010. Results These physicians received a total of $52,600,624 during this period (mean payment per physician $141,020). The predominant specialties were internal medicine and psychiatry. 147 of these physicians authored a total of 134 publications in the first quarter of 2011 and 77% (103) of these publications provided a COI disclosure. 69% of the 103 publications did not contain disclosures of the payment listed in the Dollars for Docs database. Conclusions With increased public reporting of industry payments to physicians, it is apparent that large sums are being paid for services such as consulting and peer education. In over two-thirds of publications where COI disclosures were provided, the disclosures by physician authors did not include industry payments that were documented in the Dollars for Docs database. (shrink)

This paper examines the status of Corporate Ethical Policies (CEP) in large companies in Argentina, Brazil and Spain, with a special emphasis on Corporate Ethics Statements (CES), documents that define the firms’ philosophy, values and norms of conduct. It is based on a survey of the 500 largest companies in these nations. The findings reveal many similarities between these countries. Among other things, it emerges that most companies give consideration to ethics in business and have adopted (...) some kind of formal or informal ethical policies. Regardless of whether or not they have a CES, companies agree that ethical conduct must be taken into account when selecting, appraising and promoting personnel as an important ethical policy. There is a growing tendency to draw up formal corporate ethics documents. These documents are perceived, first and foremost, as supporting the development of corporate culture. Most respondents believe that primary responsibility for ethical issues in the company rests with the CEO. Finally, the findings indicate that most companies that devote more resources to communicating and implementing CESs have two or more formal ethics documents. The main differences between the countries included in the study concern the emphasis given to specific aspects, such as avoiding misconduct or taking ethical criteria into account when selecting personnel. The emphasis is greatest in countries where corruption seems most prevalent. (shrink)

Literacy is in decline in many parts of the world, accompanied by drops in associated cognitive skills (including IQ) and an increasing susceptibility to fake news. It is possible that the recent explosive growth and widespread deployment of Large Language Models (LLMs) might exacerbate this trend, but there is also a chance that LLMs can help turn things around. We argue that cognitive science is ideally suited to help steer future literacy development in the right direction by challenging and (...) informing current educational practices and policy. Cognitive scientists have the right interdisciplinary skills to study, analyze, evaluate, and change LLMs to facilitate their critical use, to encourage turn-taking that promotes rather than hinders literacy, to support literacy acquisition in diverse and equitable ways, and to scaffold potential future changes in what it means to be literate. We urge cognitive scientists to take up this mantle—the future impact of LLMs on human literacy skills is too important to be left to the large, predominately U.S.-based tech companies. (shrink)

Corporate governance involves balancing the interests of the many stakeholders in a corporation—from shareholders and management to customers and the larger society. Corporate governance also offers the framework for attaining a company’s vision and mission, providing guidance and oversight on a broad spectrum—action plans and internal controls to performance measurement and corporate disclosure. Companies’ Act 2013 has been introduced in India with the primary objective of improving corporate governance practices in Indian corporations. In this paper, we investigate the moderating (...) role of corporate governance practices in large Indian corporations on firm performance, post introduction of Companies’ Act 2013. Specifically, we study the influence of board’s involvement in company’s affairs, board’s diversity, CEO duality, board compensation, and promoters’ involvement in the board. We find sufficient evidence that board involvement and board diversity positively influence firm performance, while CEO duality, board compensation, and promoters’ presence do not have an influence on firm performance. (shrink)

Artificial intelligence ethics requires a united approach from policymakers, AI companies, and individuals, in the development, deployment, and use of these technologies. However, sometimes discussions can become fragmented because of the different levels of governance or because of different values, stakeholders, and actors involved. Recently, these conflicts became very visible, with such examples as the dismissal of AI ethics researcher Dr. Timnit Gebru from Google and the resignation of whistle-blower Frances Haugen from Facebook. Underpinning each debacle was a conflict (...) between the organisation’s economic and business interests and the morals of their employees. This paper will examine tensions between the ethics of AI organisations and the values of their employees, by providing an exploration of the AI ethics literature in this area, and a qualitative analysis of three workshops with AI developers and practitioners. Common ethical and social tensions will be discussed, along with proposals on how to avoid or reduce these conflicts in practice. Altogether, we suggest the following steps to help reduce ethical issues within AI organisations: improved and diverse ethics education and training within businesses; internal and external ethics auditing; the establishment of AI ethics ombudsmen, AI ethics review committees and an AI ethics watchdog; as well as access to trustworthy AI ethics whistle-blower organisations. (shrink)

The paper is concerned with the bad company problem as an instance of a more general difficulty in the philosophy of mathematics. The paper focuses on the prospects of stability as a necessary condition on acceptability. However, the conclusion of the paper is largely negative. As a solution to the bad company problem, stability would undermine the prospects of a neo-Fregean foundation for set theory, and, as a solution to the more general difficulty, it would impose an unreasonable constraint on (...) mathematical practice. (shrink)

One of the hottest topics in business today is competitive intelligence, the effort by a company to obtain enough information about its competitors to give it a strategic edge over them in the marketplace. During the past decade, a number of books have been written in this country advising business managers on how to mine various sources of public information for this purpose: trade shows, public speeches by company executives, articles in obscure journals, and government agencies like the Food and (...) Drug Administration. Some large companies have even hired former FBI and CIA personnel to help them develop more effective in-house intelligence-gathering capabilities. (shrink)

In Good Company is a book about the politics and practices that constitute the salvation made possible by God through the church. By exposing a different account of politics - the church as polis and "counter-story" to the world's politics - Hauerwas helps Christians see that in fact God has given them the means to escape the destructive practices of the world by placing them "in good company" with one another, Catholic and Protestant alike. Hauerwas explains: "What we Christians have (...) lost is [the sense of] just how radical our practices are, since they are meant to free us from the... lies so characteristic of the world. The difficulty is that the church... is constantly tempted to imitate the false politics of the world for its own life". He thus urges Christians to discover the narratives, skills, and practices that they share and how these elements of the faith are crucial for confronting the false politics of the present-day world. The animating conviction underlying this volume is that the church and the Christian faith offer resources not available to the world at large, and by turning political theology into theological politics, Hauerwas helps all Christians to recognize how these resources empower them to discover and build a stronger religious and political identity. (shrink)

By now a consensus has emerged that people, when subjected to high-stakes decisions through automated decision systems, have a moral right to have these decisions explained to them. However, furnishing such explanations can be costly. So the right to an explanation creates what we call the cost problem: providing subjects of automated decisions with appropriate explanations of the grounds of these decisions can be costly for the companies and organisations that use these automated decision systems. In this paper, we (...) explore whether large language models could prove significant in overcoming the cost problem. We provide an initial case for believing that they can but only with serious ethical costs. (shrink)

Montgomery makes a retrospective journey with Walker Percy, as Percy comes to an accommodation with the modern world in company with other companionable journeymen. Percy himself enjoyed a large company of pilgrims who prove amenable to his vision of the human condition - in Percy's words, man is "in a predicament and on the move in a real world of real things, a world which is a sacrament and a mystery," words celebratively spoken of as "the holiness of the (...) ordinary," as opposed to what he called the "losangelization" of the popular spirit, a spirit which increasingly takes refuge in enclaves of "selves" in the relapse into tribalism celebrated as our "New Age." Percy's long journey from and then back to the South, his acceptance of what his Uncle Will exhibited as "Southern stoicism," had a reorientation that proved to be a "fortunate fall" very personal to him, occurring in a world far removed from the Southern Delta culture. He begins to read and read: Gabriel Marcel, Kierkegaard, St. Thomas Aquinas, Camus and Sartre and Eliot and others. And he begins distinguishing between valid science and scientism as knowing of reality, recognized as limited by the finiteness of the intellectual soul. Percy left the field of medicine to doctor to man in a different way. When Percy, recuperating with TB, understands the "holiness of the ordinary," he discovers that this world "is a sacrament," and so requires of him through his gifts a deportment to existence itself in celebration of that sacredness. Thus Percy speaks a manner, not presuming himself the agent of grace through presumption of autonomous intellect, amused and as well regretful that so many about him appear lost in the cosmos. He puts that point to a sympathetic audience, down in Louisiana not far from his comforting "place" in Covington: "Catholic or Protestant, the believing writer is usually unhappy. He feels like Lancelot in search of the Holy Grail who finds himself at the end of his quest at a Tupperware party." But not really unhappy - rather sympathetically regretful that his usual hosts at that party (his possible audience) have lost recognition of the holiness of things that requires the pilgrim intellectual soul a deportment to things in "a sacrament" of consent, before the "mystery" larger than the pretenses of scientism. The world, that is, is not a desert to be plundered to self-comfort as justified by a positivistic apotheosis of the "Self" as a sovereign autonomy desert-bound. The "making" of sacramental piety, whether as novelist or Delta planter, requires the stewardship of love to things in themselves. (shrink)

Companies have devoted significant resources to diversity programs, yet such programs are often largely ineffective. Cultivating an organizational commitment to diversity is critical, but scholars lack a clear understanding of how top executives conceptualize change. In this article, I analyze data from a year-long case study of a Silicon Valley technology company implementing a gender equality initiative. The data include 50 in-depth interviews and observation of 80 executive meetings. I pay special attention to longitudinal interviews with 19 high-level executives (...) and explore how their ideologies about inequality affected their change efforts. I find that executives tend to favor individualistic and societal explanations of gender differences and inequality, and these explanations correspond with change efforts focused mainly on altering individuals or affecting external communities. Executives rarely engaged in attempts to change the organization structurally. Thus, the implementation of gender equality remains limited by top executives’ ideas and assumptions about the sources of inequality. (shrink)

This article makes first use of a set of databases that are authoritative, independent, and consistent to examine an old research question: do firms hurt their financial performance by damaging stakeholder interests? The databases are US government on-line listings of fines for environmental breaches, unsafe workplaces, fraudulent accounting standards, and product recalls. These measures are assumed to proxy for signals to stakeholders of the environmental, social, and governance (ESG) risks in transacting with the firm and appear to have fewer biases (...) than conventional measures of stakeholder standards. Using a sample of all non-financial S& P 500 firms during the most recent 1998-2003 full cycle in the market, after controlling for firm-specific differences, sales margins of firms fell by 0.8% if they announced a product recall and by 0.4% if cited by OSHA for an unsafe workplace; and shareholder return was significantly reduced by an EPA or SEC prosecution. This study links the risk of transaction uncertainty, information signaling theory, and the resource-based view of the firm to company financial performance. Results support the normative assumption that a firm's sales margin will be damaged by unethical treatment of stakeholders as evidenced by ESG breaches, presumably because risk-averse customers and suppliers are alert to signals of counterparty risk. (shrink)

Much attention has been focused in recent years on the ethical acceptability of physicians receiving gifts from drug companies. Professional guidelines recognize industry gifts as a conflict of interest and establish thresholds prohibiting the exchange of large gifts while expressly allowing for the exchange of small gifts such as pens, note pads, and coffee. Considerable evidence from the social sciences suggests that gifts of negligible value can influence the behavior of the recipient in ways the recipient does not (...) always realize. Policies and guidelines that rely on arbitrary value limits for gift-giving or receipt should be reevaluated. (shrink)

The paper responds to the recent calls for further evidence on corporate social responsibility (CSR) in small and medium‐sized enterprises (SMEs). Drawing on the extant literature, the authors identify four characteristics contended by academicians as peculiarities of SMEs’ approach to CSR: the intrinsic relationship between CSR and corporate strategy motivated by the need to continuously dialogue with stakeholders; the centrality of the entrepreneur's ethos in CSR decisions; the coexistence and the cross‐effect of economically instrumental and ethically motivated CSR policies; and (...) the finalization of CSR initiatives to specific firm growth objectives. These four peculiarities are explored in the case of an Italian medium‐sized company operating in the furniture industry. The outcomes show how the four peculiarities are salient in analyzing the CSR approach by the company and suggest areas for further research aimed at developing a thorough theory of CSR in SMEs. In particular, we deepen the analysis of the nature of the uniqueness of medium‐sized companies’ approach to CSR, providing possible interpretations of the reasons making medium‐sized companies’ approach to CSR different from both small and large companies. (shrink)

Codes of conduct have become the perhaps most often used tool to manage corporate social responsibility (CSR). Researchers have primarily analysed such documents at company-wide or trans-company levels, whereas there is a dearth of studies into the use of codes for particular corporate functions. Hence, this article will examine one particular group of sub-company level codes, namely codes of conduct that stipulate CSR criteria for suppliers. Examining such ethical sourcing policies adopted by the FTSE100 corporations, the article draws out what (...) environmental, social and economic issues large corporations perceive to be important in the management of their supply chains. At an aggregate level, the coverage of CSR issues is rather extensive, yet at the level of the individual corporation a degree of selectivity in the issues that are addressed becomes noticeable. The code content analysis furthermore confirms the business case and public pressure to be the most important drivers of CSR. Finally, the study highlights the role of isomorphic processes in the adoption of CSR tools. (shrink)

While a substantial amount of the literature describes corporate benefits of corporate social responsibility (CSR) initiatives, the literature is silent concerning why some companies announce CSR initiatives, yet fail to implement them. The article examines company delistings from the UN Global Compact. Delistings are surprising because the CSR agenda is seen as having won the battle of ideas. The analysis proceeds in two parts. I first analyze firm-level characteristics focusing on geography while controlling for sector and size; I find (...) that geography is a significant factor while small firms are more likely to be delisted than large firms and some sector characteristics determine delistings. Next, I proceed to uncover country-level characteristics including the degree of international economic interdependence as well as the quality of governance institutions. Multivariate regression analysis shows that companies are less likely to be delisted from countries where domestic governance institutions are well-functioning. To a lesser extent, I find that firms from countries with international economies are more willing to comply with the UN Global Compact requirements. Countries with a high share of outward FDI/capita have a lower share of delisted firms as do countries that are internationally competitive. (shrink)

Peace is more likely where there is trade and commerce between nation-states. However, many nations are "failed states" or "failing states," in large part because of civil wars. Yet, "business" may have a role to play here, too; as private military security companies (PMSCs) proliferate, governments and international organizations seem increasingly disposed to contract for their services, in some cases for combat roles as well as non-combat support roles in various conflict zones. This has raised questions about the (...) ethics of using private companies for public purposes, especially where (as now) private companies have operated outside of legal accountability. This article suggests ways in which such accountability can be put in place, such that PMSCs can actually serve the cause of securing local and regional stability as a first step toward establishing a much safer environment for people and for business. (shrink)

To survive and be successful in today's setting of globalisation and complexity, companies are obliged to think in wider strategic terms, developing active and enterprising strategies that include social, political and ecological elements, besides the economic ones. The analysis of the relationship between companies and society is especially interesting when these companies operate in international markets. Countries demand that large corporations contribute to local, regional and national development in such a way that their resources are exchanged (...) for a significant increase in their citizens' quality of life. Faced with that fact, the aim of this work is to establish what actions the subsidiaries will take in order to offer a response to the needs of their stakeholders in the host countries. Secondly, we attempt to identify the factors explaining the different levels of social response of the subsidiaries established in a particular country by different parent companies. The empirical study was carried out on a sample of Spanish subsidiaries in the two manufacturing industries with most foreign investment (the chemical and automobile industries) and the results obtained both confirmed the validity of the tool used to measure social response and permitted us to determine which factors influence the institutionalisation of social responsiveness. (shrink)

PurposeSocial media has increased as a marketing channel, and Facebook is the biggest social media company globally. Facebook contains both positive and negative information about companies; therefore, it is important for companies to manage their Facebook page to best serve their own interests. Although most users are familiar with business and marketing activities on Facebook, they use it primarily for fun and personal purposes. The most effective methods for companies to use Facebook have not been clear. The (...) personal nature of Facebook presents unique challenges for companies by raising ethical and social responsibility issues that are important to users. The purpose of this paper is to discover how companies can optimize their use of Facebook as a marketing channel.Design/methodology/approachA survey was conducted. The respondents were 158 users of Facebook in Sweden; complete answers were provided by all respondents. In a series of specific questions and comments, the respondents were asked to describe an optimal marketing solution on Facebook for companies. They rated different functions, which were illustrated with pictures, to help in the cognitive process and to avoid misunderstandings.FindingsMost users who have an opinion on the issue accept marketing on Facebook, but only in the right amount. There are basically two groups: those who think that companies have no place on Facebook and those who want companies to be active on Facebook. The latter group emphasizes the importance of meaningful posts without unsolicited sales messages, and would prefer to search for the companies themselves rather than being bombarded by company messages. By far, status updates and pictures/images were found to be the most important functions to respondents.Research limitations/implicationsThe sample consisted of only Swedish users. Another limitation was that, since many Facebook users do not normally think about the implications of being exposed to marketing on Facebook, they have difficulty taking a position on many issues related to the service.Practical implicationsThe results give companies a clear idea of how to effectively use Facebook in their marketing efforts.Originality/valueA large number of companies are currently asking themselves, “How can we use Facebook in an optimal way?” The results in this study answer this question and lead directly to saving time and resources for these companies. (shrink)

Controversies around large-scale development projects offer many cases and insights which may be analyzed through the lenses of corporate social (_ir_)responsibility (CS_I_R) and business ethics studies. In this paper, we confront the CSR narratives and strategies of _WeBuild_ (formerly known as _Salini Impregilo_), an Italian transnational construction company. Starting from the Global Atlas of Environmental Justice (EJAtlas), we collect evidence from NGOs, environmental justice organizations, journalists, scholars, and community leaders on socio-environmental injustices and controversies surrounding 38 large hydropower (...) schemes built by the corporation throughout the last century. As a counter-reporting exercise, we code (un)sustainability discourses from a plurality of sources, looking at their discrepancy under the critical lenses of post-normal science and political ecology, with environmental justice as a normative framework. Our results show how the mismatch of narratives can be interpreted by considering the voluntary, self-reporting, non-binding nature of CSR accounting performed by a corporation wishing to grow in a global competitive market. Contributing to critical perspectives on political CS(I)R, we question the reliability of current CSR mechanisms and instruments, calling for the inclusion of complexity dimensions in and a re-politicization of CS(I)R accounting and ethics. We argue that the fields of post-normal science and political ecology can contribute to these goals. (shrink)

One prominent criticism of the abstractionist program is the so-called Bad Company objection. The complaint is that abstraction principles cannot in general be a legitimate way to introduce mathematical theories, since some of them are inconsistent. The most notorious example, of course, is Frege’s Basic Law V. A common response to the objection suggests that an abstraction principle can be used to legitimately introduce a mathematical theory precisely when it is stable: when it can be made true on all sufficiently (...) large domains. In this paper, we raise a worry for this response to the Bad Company objection. We argue, perhaps surprisingly, that it requires very strong assumptions about the range of the second-order quantifiers; assumptions that the abstractionist should reject. (shrink)

The predominant position of large companies, while crucial for the acceptance of biotechnology, at the same time slows down the pace of biotechnological development and application. Large agrochemical and food processing companies are characterized by a number of internal barriers against applications of biotechnology in agriculture. They also show a greater sensibility to the external barriers than many small companies. Their takeover of agricultural biotechnology, therefore, has led to a more evolutionary than revolutionary development.

With assets of over US$1.0 trillion and growing, public pension funds in the United States have become a major force in the private sector through their holding of equity positions in large publicly traded corporations. More recently, these funds have been expanding their investment strategy by considering a corporation's long-term risks on issues such as environmental protection, sustainability, and good corporate citizenship, and how these factors impact a company's long-term performance. Conventional wisdom argues that the fiduciary responsibility of the (...) pension funds' trustees must be solely focused on their beneficiaries and, therefore, their investment criteria must be based strictly on narrowly defined financial measures. It is also asserted that well-established financial measurements of corporate performance already include long-term risk assessment through discounted present value of future flow of earnings. Consequently, all other criteria are contrary to the best interest of the pension funds' beneficiaries. In this paper, we assert that, contrary to conventional wisdom, pension funds, and for that matter other mutual funds, must be concerned with the long-term survival and growth of corporations. These measures are generally referred to "socially responsible investing" and when applied to corporations, it is termed "socially responsible corporate conduct." We demonstrate that current measurement of future risk assessment invariably understates, and quite often completely overlooks, these long-term risks because of the inherent bias towards short-run on the part of financial intermediaries whose compensation depends greatly on short-term results. Furthermore, there is ample evidence to suggest that these intermediaries have been engaging in self-serving practices and thus failing in their duties to serve their clients', i.e. pension funds', best interests. Because of their large holdings in the total market as well as individual companies, these funds cannot easily divest from poorly performing companies without destabilizing the companies' stock and overall markets. Hence, they must opt for a strategy of emphasizing investment criteria that encourage companies to take into account long-term aspects of their operations in terms of their impact on environment, sustainability, and community welfare, to name a few. We argue that an exclusionary, and even a primary, focus on short-term financial criteria is no longer a viable option. It also calls for the pension funds to encourage greater transparency and accountability of the entire corporate sector through improved corporate governance. Thus socially responsible investing practices are not merely discretionary and desirable activities; they are a necessary imperative, which both the corporations and public pension funds, and other large institutional holders, will ignore at serious peril to themselves. Finally, the paper considers some of the recent developments where corporations have been responding to these challenges and how their actions might be strengthened through greater disclosure and transparency of corporate activities. It also makes recommendations for the pension funds to support further research in creating new measurement standards that further refine the concept of socially responsible investing as a necessary ingredient of long-term corporate survival and growth in the context of a changing economic, environmental and socio-political dynamic. (shrink)

A central element in neo-Fregean philosophy of mathematics is the focus on abstraction principles, and the use of abstraction principles to ground various areas of mathematics. But as is well known, not all abstraction principles are in good standing. Various proposals for singling out the acceptable abstraction principles have been presented. Here I investigate what philosophical underpinnings can be provided for these proposals; specifically, underpinnings that fit the neo-Fregean's general outlook. Among the philosophical ideas I consider are: general views on (...) a priori justification; the idea of abstraction as reconceptualization, the idea that truth is prior to reference in the sense associated with Frege's context principle; and various broadly relativistic views. The conclusions are by and large negative. (shrink)

In contrast to the recent rise to economic importance of offshore finance centres (OFCs), the topic of taxation has so far created little interest among scholars of corporate social responsibility (CSR). This paper makes two contributions to addressing this lacuna. Applying a range of influential normative theories of ethics, it first offers an ethical evaluation of tax havens. Second, the paper examines what use large firms that are headquartered in two OFCs—Bermuda and the Cayman Islands—make of formal CSR tools. (...) The emerging duplicity in tax havenbased companies professing social responsibility highlights once more the political nature of CSR, where at least some firms and/or industries can successfully limit government power to enact regulation as well as shape the discourse around CSR. The study of CSR in OFC-based firms thus calls into question the usefulness of the often quoted definition of CSR as going beyond the law. (shrink)

Recent research has shown that the corporate social responsibility system has a positive impact on consumer behavior regarding products or services that promote social responsibility. Thus, it can be stated that customer loyalty to a particular company derives not only from commercial benefits but also from the components of corporate social responsibilities practiced by the company. The vast majority of company managers in Romania do not understand what it means to be a socially responsible company, which is why they do (...) not even agree with most of the definitions given to corporate social responsibility; secondly, when asked to explain what social responsibility means, they are not able to make logical arguments; I argue that the involvement of companies in social responsibility activities has a purely economic motivation and that it is related to the size of the company, rather large companies integrating the implementation of CSR activities in its vision. From a marketing perspective, corporate social responsibility has proven its ability to generate many benefits for companies, implementing and communicating specific policies and actions in this regard with the potential to improve satisfaction and loyalty, both among customers and of employees. The main objective of the article is to analyze the way in which consumers in Romania perceive the corporate social responsibility system of companies. (shrink)

Controversies around large-scale development projects offer many cases and insights which may be analyzed through the lenses of corporate social (_ir_)responsibility (CS_I_R) and business ethics studies. In this paper, we confront the CSR narratives and strategies of _WeBuild_ (formerly known as _Salini Impregilo_), an Italian transnational construction company. Starting from the Global Atlas of Environmental Justice (EJAtlas), we collect evidence from NGOs, environmental justice organizations, journalists, scholars, and community leaders on socio-environmental injustices and controversies surrounding 38 large hydropower (...) schemes built by the corporation throughout the last century. As a counter-reporting exercise, we code (un)sustainability discourses from a plurality of sources, looking at their discrepancy under the critical lenses of post-normal science and political ecology, with environmental justice as a normative framework. Our results show how the mismatch of narratives can be interpreted by considering the voluntary, self-reporting, non-binding nature of CSR accounting performed by a corporation wishing to grow in a global competitive market. Contributing to critical perspectives on political CS(I)R, we question the reliability of current CSR mechanisms and instruments, calling for the inclusion of complexity dimensions in and a re-politicization of CS(I)R accounting and ethics. We argue that the fields of post-normal science and political ecology can contribute to these goals. (shrink)

Managers often ask why their firm should have an ethics program, especially if no one has complained about unethical behavior. The pursuit of business ethics can cost money, they say. It can lose sales to less scrupulous competitors and can drain management time and energy. But as Harvard business professor Francis Aguilar points out, ethics scandals (such as over Beech-Nut's erzatz "apple juice" or Sears's padded car repair bills) can severely damage a firm, with punishing legal penalties, bad publicity, and (...) irreparably injured customer relations. Equally important if less obvious, unethical behavior can undermine a firm's organizational spirit. On the other hand, Aguilar argues, in a well run firm, ethical programs can actually enhance corporate performance, strengthening the company at every level and supercharging employee risk taking and innovation. In Managing Corporate Ethics, Aguilar shows managers how to create ethical programs within their organizations that not only discourage large-scale wrongdoing, but can contribute substantially to the achievement of corporate excellence. Aguilar's program is down-to-earth and comprehensive, and based on his extensive research on highly successful, ethical companies, both large and small. He recommends action on three fronts: first, get senior management to provide effective ethical leadership; second, set up an ethics program that promotes concern for the interests of people affected by the firm's operations and that provides safeguards against corrupting business pressures; and third, staff the company with ethical people and surround the organization with ethical advisors (including legal, financial, accounting, tax, and marketing consultants). To illuminate this three-step program, Aguilar incorporates the lessons learned in his in-depth study of ten prominent firms with proven successful ethics programs--among them Hewlett-Packard, Johnson & Johnson, Nucor Steel, Cray Research, ServiceMaster, and Texas Instruments. He examines Lincoln Electric's attention to compensation and job security to ensure quality products and to reduce the pressure or temptation to act unethically. He shows how General Mills, while pushing product line managers to compete aggressively, uses corporate staff units to guard against illegal or unacceptable claims (testing cake recipes, for example, to see if a product's quality fails under the less-than-perfect conditions of a normal kitchen). And he details how Armstrong World Industries uses pep talks, inspirational stories, role models, and ready access to management to promote ethical standards among employees. Throughout, Aguilar demonstrates convincingly that an ethical program pays dividends: that employees, suppliers, customers, and the community at large know when they are being treated in a positive and constructive manner, and are likely to respond in kind. Packed with real life examples of successful (and failed) ethical programs, Managing Corporate Ethics is a valuable roadmap to an often overlooked source of business success. (shrink)

While a significant body of literature has highlighted the moral obligations of companies regarding the sustainable use of common pool resources, business activities that contribute to the sustenance of common pool resources remain embryonic. Studies in this area have largely focused on environmental stimuli rather than on the complex motivational structures that drive or hinder businesses’ contributions to common pool resources. We explore the different motives and behaviors of businesses and their contributions to common pool resources, and propose four (...) roles by which companies’ motives and behaviors toward common pool resources can be categorized—namely, free riders, followers, believers, and altruists. We shift the focus from moral reasoning to Platt’s :641–651, 1973) notion of social trapping and his “ways out” as Platt’s “ways out” include propositions that address not only environmental stimuli but also companies’ motives. Both types of propositions are important for businesses to be able to respond rapidly to the scarcity of certain common pool resources and to use and maintain common pool resources in a sustainable way. Based on our categorization and Platt’s typology of social traps and “ways out,” we propose a theoretical framework by which companies and other stakeholders are provided with a differentiating perspective that allows for propositions addressing the complex nature of motivational structures and common pool resources. Our framework helps business leaders, institutions, and policy makers decide on actions that can contribute to the sustainability of common pool resources and that differ from actions that solely serve organizational self-interests. (shrink)

Suppose you stroll to the corner restaurant for breakfast: eggs, bacon, and a glass of orange juice. A simple activity? No. Mind-numbing complexity is more like it. A farmer in Virginia produced your egg, another in Florida your orange juice, and yet another in the Midwest your bacon. Different truckers brought each of these to a supermarket. The restaurateur then bought them there and had them prepared for you. Seven people are involved in your ‘simple’ activity? Well, no. This is (...) a caricature. Just for starters, the egg farmer/capitalist hires several workers to operate considerable equipment, all of which was purchased from other companies, made up of capitalists and workers, which in turn bought their parts from yet other companies, which …(the mind reels). Your day has barely begun, and a few dollars worth of breakfast has already brought an army of considerable size to your service. (shrink)

Large mining projects can generate highly inequitable outcomes, with affected communities bearing the burden of social and environmental costs while economic benefits accrue largely to domestic and foreign metropolitan centres. This raises important ethical and social justice issues, as does the finite nature of mineral resources, which can mean that current generations enjoy the benefits of mining while future generations bear the costs of environmental and social impacts that can continue long after mining ends. During recent decades two broad (...) approaches, voluntary industry initiatives and government regulation, have been employed in attempts to achieve a more equitable distribution of mining’s positive and negative effects. Both have serious drawbacks. Industry initiatives are ultimately voluntary and may be abandoned in tough economic times; they can be highly variable across companies and projects; and they suffer from serious compliance issues. Public regulation can be inflexible, is subject to industry capture, and in many major mineral producing nations a ‘retreat from regulation’ is reducing its relevance. This article considers whether, and under what conditions, a third and emergent instrument, community development agreements, can help overcome the shortcomings associated with industry initiatives and public regulation. It argues that CDAs have considerable potential in this regard, but that communities can encounter significant practical challenges in their negotiation and implementation. In addition, disparities in negotiation power between communities and project developers can result in inequitable agreements, indicating a continued need for government involvement to create a more level ‘negotiation terrain’. (shrink)

This paper reports on the implementation of a methodology for detailing organizational values and measuring their influence on organizational performance. The work takes a grounded approach based on a large corpus of mission statements, which have been shown to be an authentic source of organizational values. A link is made between the mesh of values through an organization and the resulting world-class performance using a methodology that comprises benchmaking and values assessment. The framework developed in the paper is an (...) attempt to map and develop the associations of individuals within the organizations. (shrink)

Committing financial fraud is a serious breach of business ethics. However, there are few large scale studies of financial fraud, which involve ethical considerations. In this study, we investigate the pervasive financial scandals, which by the end of 2012 involved more than a third of the US-listed Chinese companies. Based on a sample of 262 US-listed Chinese companies, we analyze factors that differentiate between firms that commit financial fraud and those that do not. We find that firms (...) more predisposed to unethical behavior, due to their low regional social trust in the home country and low respect for regulations and laws as proxied by political connections, are more likely to commit accounting and financial fraud. They take advantage of low hurdles for listing via reverse mergers and avoid third-party monitoring through poor governance and auditors. Finally, we find evidence, after these scandals, of non-fraudulent firms differentiating themselves from the fraudulent firms by sending costly signals such as insiders purchasing shares, increasing dividends, and going private. (shrink)

This article examines some of the reasons why banks and insurance companies have been accused of discrimination, and shows that this is by and large a false accusation. Economic analysis demonstrates that racial discrimination is not a profit‐maximizing strategy. Actually, unwise public policies are actually precluding many consumers from the market.