Information and communication technologies are increasingly used for development in the Global South, and mHealth plays key role. This paper analyzes the particular relationship to science that characterizes a global maternal mHealth program deployed in Ghana and India. Using science and technology studies, this research relies on qualitative interviews conducted between 2014 and 2016 with funders, implementers, and beneficiaries of this mHealth program. This story begins with a randomized controlled trial, a biomedical experiment with a strong positioning regarding science and (...) the production of evidence. But rapidly the scientific stance disappears to give way to the testing and marketing of a product for the digital economy. From science to market, this paper offers to revisit a classical STS topic through the lens of mHealth. It shows how the various experimental forms taken by this project fundamentally diverge from scientific methods and evidence production and at the same time how it nurtures an ongoing instrumental relationship with science. Thus, from clinical research to product marketing, this paper highlights the tenuous link between evidence-based and market-based mHealth in the Global South. (shrink)

The United States Environmental Protection Agency has begun to encourage innovative market-based approaches to address nonpoint source water pollution. These water quality trading programs have the potential to achieve environmental standards at a lower overall cost. Two fundamental questions must be answered before these benefits can be realized: How will trades between point and nonpoint sources be monitored and enforced? and, How will nonpoint sources be included within a trading market? ;Point-nonpoint source trading can be accommodated through (...) either a technology-based or performance-based approach. The technology-based approach accommodates trading through the use of a proxy for unobservable, individual nonpoint source emission reductions. While trading ratios can effectively deal with the uncertainty associated with using a proxy for actual abatement, they are inefficient and ineffective for dealing with problems of hidden action. The alternative use of performance-based trading approaches requires the use of team contracts that provide individual incentives linked to the performance of the entire group. Such contracts must be designed to overcome both adverse selection and moral hazard problems. Performance-based approaches promise efficiency gains in terms of reducing the problems of asymmetric information, and by introducing flexibility into the choice of nonpoint source abatement technologies and practices. ;Nonpoint sources are exempted from direct regulation under the polluter-pays-principle. As a result, their participation in trading markets is voluntary, thus preventing a baseline cap on pre-trade emissions. To determine whether this arrangement should be changed, we must ask if there something that morally prohibits the direct regulation of nonpoint sources of pollution. While a morally relevant distinction can be made between point and nonpoint sources of emission based on differences in the ability to observe individual emission levels, this relevance is limited to the case of performance-based policy instruments. The moral legitimacy of applying the polluter-pays-principle to nonpoint sources of pollution must be made on a case by case basis, as it is dependent upon existing social, economic, and other practical factors. However, it can be stated that there is no general moral barrier to prohibit the application of the polluter-pays-principle to nonpoint sources of pollution. (shrink)

This paper focuses on one particular case that connects climate justice and climate economics. Its contribution is twofold. First, it aims at providing a sound normative foundation for carbon pricing mechanisms around the notions of a ‘right to energy’, the ‘duty not-to-harm’ and an argument for ‘restricted compensation’. Second, it identifies the normative elements from theories of climate justice that should guide the design of market-based instruments for climate change mitigation. This will cast light on the particular (...) moral relevance of the act of internalizing a negative externality and of the funds generated by putting a price on carbon. (shrink)

Since the introduction of Ethereum in 2015, blockchain technology (BT) has been evolving, and BT has been associated with the concept of the sharing economy by business academics. Despite the marketing research on the sharing economy that has been extensively conducted in the last decade, the linkage between BT and ethical marketing in the sharing economy remains unclear. Through a systematic literature review of 163 articles and a co-citation analysis, this study identifies the key elements of blockchain capabilities, blockchain attributes, (...) and the underlying economic theories of blockchain. It also synthesizes and proposes a shift of ethical marketing logic in the blockchain-based sharing economy that delineates the principles of stakeholder capitalism. The article concludes with a list of future research directions that underline three approaches of stakeholder theory (i.e., the descriptive, instrument, and normative approaches). These directions aim to guide marketing scholars concerning how BT enables an institutionally embedded view of ethical marketing activities and practices that enhance collaborative marketing and subsequently innovate value chains and create sustainable business models in the sharing economy, as well as to the metaverse. (shrink)

Markets have led a shadowy existence in economics. The ruling paradigm, neoclassical economics, for which markets are a central institution, has mainly been concerned with the determination of market prices. Until recently, sociological investigations of modern markets focused on production, as did anthropological work that ascertained how each culture made a living. The major debate among anthropologists to date has been about whether the economic rationality of the maximizing individual is to be found in all societies or whether substantive (...) economies are always embedded in a cultural matrix that determines its logics and forms of transaction. A new feature of financial markets is that they are based upon scopic systems – electronic and informational mechanisms of observing and contextualizing market reality and of back-projecting this reality onto the computer screens of globally operating traders. When such a mechanism is in place, coordination and activities respond to the reflected, represented reality rather than to pre-reflexive occurrences. This form of coordination contrasts with network forms of coordination that are pre-reflexive in character. In network markets, participants rely on their relationships to determine ‘where the market is’. In a market based on scopic systems, the market is fully visible on screen – as a set of tradable, comprehensively contextualized, quickly moving prices for various trading instruments. In this situation, a level of global inter-subjectivity emerges that derives from the character of these markets as reflexively observed by participants on their computer screens in temporal continuity, synchronicity, and immediacy. As a consequence, these markets are communities of time. As temporalized systems, financial markets project a form of coordination adapted to a global world that leaves behind the patterns of traditional producer and exchange markets. (shrink)

Many Europeans are concerned about the living conditions of farm animals because they view animals as beings that possess interests of their own. Against this background the introduction of an animal welfare label is being intensively discussed in Europe. In choosing a market-based instrument to take these concerns into account, normative judgments are made about the formation of preferences, the value system that is implicitly assumed, and the distribution of property rights. From the perspective of classical institutional economics (...) it can be shown that the introduction of a label as an institutional change does not redefine institutions in a way that allows them to consider the interests of animals for their own sake. Rather, the label only redefines the property rights that humans have over animals. The market segregation into privileged and normal animals conflicts with the idea of equality between sentient animals. Within the group of humans only the interests of those who act on markets count. The commodification of their moral concerns assumes that people always decide based on their own interests, which can be traded off. The lexicographical ordering of preferences, which occurs when humans view animals as entities with rights, is not compatible with the normative assumptions of markets. Furthermore, interpreting animal suffering as market failure that can be corrected by labeling impedes a reasoned dialog within the society about the values and beliefs that serve as a basis for preference formation. Thus, an animal welfare label cannot replace a fundamental societal debate about legal standards on animal well-being. (shrink)

Rawls identifies only two arrangements, the liberal socialist regime and the property-owning democracy, as being compatible with justice. Both are market-based economies, suggesting that a just society must include the market. This article questions this idea by looking at three Rawlsian arguments in favour of the market. Two arguments, which link the market to certain basic liberties, are unsound because the market is shown to be nonessential in protecting these liberties. A third argument points (...) at the instrumental value of the market to make the least advantaged as well off as possible. It is based on an interpretation of the difference principle in which justice requires maximizing the position of the worst off within the most productive economic system. Although commonly accepted, this reading of the principle should be questioned, and thus the third argument is also inconclusive. (shrink)

Addressing the critique that communication activities with regard to CSR are often merely instrumental marketing or public relation tools, this paper develops a toolbox of CSR communication that takes into account a deliberative notion. We derive this toolbox classification from the political approach of CSR that is based on Habermasian discourse ethics and show that it has a communicative core. Therefore, we embed CSR communication within political CSR theory and extend it by Habermasian communication theory, particularly the four validity (...) claims of communication. Given this communicative basis, we localize CSR communication as a main means to receive moral legitimacy within political CSR theory. A typology of CSR communication tools is advanced and substantiated by a review of case studies supporting the categories. Thus, we differentiate between instrumental and deliberative, as well as published and unpublished tools. Practical examples for the literature-derived tool categories are provided and their limitations are discussed. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Philosophy of Music Education Review 11.2 (2003) 185-193 [Access article in PDF] Response to Marja Heimonen, "Music Education and Law:Regulation as an Instrument" Raimo Siltala University Of Helsinki, Finland From a legal point of view, Marja Heimonen's dissertation and the extract published in this issue of PMER, "Music Education and Law: Regulation as an Instrument," presents a most important question: Should music education be regulated by law, and if (...) so, by what kind of legal instruments—by strict legal rules, by softer legal standards, by self-regulation, or by leaving the matter to the laissez-faire and "invisible hand" of the market, where economic efficiency takes over from legal regulation? Heimonen's dissertation is to my knowledge the very first of its own kind, combining elements from music education and the law and, indeed, legal philosophy in an imaginative and highly original manner. Her scholarly position between music education and law is a courageous one because she might invite critical comments equally from the two branches of science involved: the music educational and the legal philosophical one. Yet, she has a gained a profound understanding of the specific needs of music education and of the restrictions of law and legal regulation, and the two-sided approach is really one of the true strengths, and not weaknesses, of the scholarly work. Her approach strives mainly at a broad hermeneutical comprehension of the issue in the humanistic [End Page 185] tradition, but there are other elements involved, as well, related to the analytical or instrumental tradition.There is a large legal comparative part in the treatise, covering approximately one third of the whole thesis, with material drawn from Sweden, England, Germany, and Finland and the system of music education in each. The three legal systems have been chosen with good discretion: one with a common law background (England), one belonging to the Roman-Germanic tradition (Germany), and one from the Scandinavian legal tradition (Sweden), and the Finnish system of music education is then compared to all of them. The Swedish model is based on equal opportunity given to all the applicants with no entrance examinations held and as many willing children accepted to the music schools as is possible. The British system, or rather a "non-system," of music education is privately owned and market-based, with only a few regulations issued by the government and with an emphasis on the visiting peripatetic teachers, voluntary Saturday music schools, and the special schools founded for the musically talented. The German system, like the one in Finland, is based on formal entrance examinations and degrees passed, where both a professional career in music performance and artistic self-expression may be pursued as the primary goal of music education."The Swedes have Abba and Roxette, we the Finns have Kaija Saariaho and Ralf Gothoni"—along with Esa-Pekka Salonen and other world-class conductors, one might add—as Heimonen notes in the text, but why is that so? Does the difference in the outcome, in the sense of a breakthrough either in popular music groups or individual performers in classical music, lie in the system of music education and the legislative ideology at the back of it? Heimonen refuses to give a simple and straightforward answer to that question, declining to place the various systems of music legislation in an order of preference. Instead, she adopts a broadly humanistic and hermeneutical perspective to the issue, where the merits and the disadvantages of each legal system are taken on an individual basis. The Shakespearean question that is so boldly put forth by her, "viz. to regulate or not to regulate," is answered only with reference to a widely humanistic understanding of the complex issue of music education where the intrinsic values of artistic self-expression and the instrumental values of training future professionals in music performance, composing, and conducting, are contrasted with other, but where no winners or losers are identified by her.There would seem to be a connection between a certain legal system and its model of... (shrink)

Globalization of financial markets led to the enormous growth of volume and diversification of financial transactions. Financial derivatives were the basic elements of this growth. Derivatives play a useful and important role in hedging and risk management, but they also pose several dangers to the stability of financial markets and thereby the overall economy. Derivatives are used to hedge and speculate the risk associated with commerce and finance. When used to hedge risks, derivative instruments transfer the risks from the (...) hedgers, who are unwilling to bear the risks, to parties better able or more willing to bear them. In this regard, derivatives help allocate risks efficiently between different individuals and groups in the economy. Investors can also use derivatives to speculate and to engage in arbitrage activity. Speculators are traders who want to take a position in the market; they are betting that the price of the underlying asset or commodity will move in a particular direction over the life of the contract. In addition to risk management, derivatives play a very useful economic role in price discovery and arbitrage. Financial derivatives trading are based on leverage techniques, earning enormous profits with small amount of money. (shrink)

The growth of global value chains (GVCs) and the emergence of novel forms of value chain governance pose two questions for normative business ethics. First, how should we conceptualize the relationships between members of a GVC? Second, what ethical implications follow from these relationships, both with respect to interactions between GVC members and with respect to achieving broader transnational governance goals? We address these questions by examining the emergence of transnational eco‐labeling as an increasingly prominent form of GVC governance that (...) is redefining the relationship between nominally independent firms. On the first question, we argue that GVCs occupy a middle ground between intrafirm and interfirm transactions, thereby posing a challenge to theoretical frameworks that attempt to apply ethical standards based on transaction types. On the second question, we argue that this unique institutional status leads to a range of novel ethical considerations and dilemmas for GVC members. Lead firms, their suppliers, and third‐party standard‐setters all confront new ethical quandaries when third‐party eco‐labeling is introduced to a GVC. The nature of these quandaries means that, while GVCs may be well‐positioned to serve as instruments of transnational governance, they are frequently not well‐oriented to do so. Our analysis marks an initial attempt to map the ethical considerations that apply to members of a GVC, and in doing so, places the literature on normative business ethics and transnational governance in a closer conversation. (shrink)

The goal has been to devise a strategy that protects as much as possible the rights and liberties of all agents, both users of fossil fuels and people whose livelihoods and territories are at risk if the anthropogenic global warming hypothesis is true. To achieve this goal the standard climate policy instruments, taxes and emissions trading, should be discontinued. There are weaknesses in the theoretical perspectives used to justify these policy instruments and climate science cannot provide the knowledge (...) that would be needed to justify their implementation. In their place I propose a privatised policy, based on Austrian and libertarian frameworks of thought, which share an interpretation of climate change as a putative interpersonal conflict rather than market failure. The use of fossil fuels, like any other economic activity, should be subject to side-constraints designed to avoid the infringement of other people’s property rights. Tort litigation on the basis of strict liability would protect these rights, insofar as they need protecting. By providing a public arena for the competitive testing of scientific hypotheses concerning climate change, such litigation would also promote the public understanding and even the advancement of climate science. (shrink)

The growth of global value chains (GVCs) and the emergence of novel forms of value chain governance pose two questions for normative business ethics. First, how should we conceptualize the relationships between members of a GVC? Second, what ethical implications follow from these relationships, both with respect to interactions between GVC members and with respect to achieving broader transnational governance goals? We address these questions by examining the emergence of transnational eco-labeling as an increasingly prominent form of GVC governance that (...) is redefining the relationship between nominally independent firms. On the first question, we argue that GVCs occupy a middle ground between intrafirm and interfirm transactions, thereby posing a challenge to theoretical frameworks that attempt to apply ethical standards based on transaction types. On the second question, we argue that this unique institutional status leads to a range of novel ethical considerations and dilemmas for GVC members. Lead firms, their suppliers, and third-party standard-setters all confront new ethical quandaries when third-party eco-labeling is introduced to a GVC. The nature of these quandaries means that, while GVCs may be well-positioned to serve as instruments of transnational governance, they are frequently not well-oriented to do so. Our analysis marks an initial attempt to map the ethical considerations that apply to members of a GVC, and in doing so, places the literature on normative business ethics and transnational governance in a closer conversation. (shrink)

The Catholic Church – though in popular opinion it is sometimes treated as a stronghold of conservatism, traditionalism, suspicion of progress and novelty, it changed significantly in the second half of the 20th century and continues to change its attitudes, especially in terms of the use of social communication and attitude to the media mass. The Church’s growing openness to media relations and the use of a rich instrumentation of social communication has become one of the reasons for the growing (...) popularity of market orientation among the clergy and active believers, which opens opportunities for the development of the concept of a specific sectoral marketing formula of church marketing. In this article the authors search for the causes of the progressive phenomenon of the marketization of religion, present examples of the activities of the Polish Catholic church, inscribed in the church marketing trend, as well as define the negative consequences resulting from its dissemination. The applied research method is based on the literature analysis and case studies analysis. (shrink)

The Anglican Church of Kenya (ACK) is the oldest church in Kenya and the largest protestant denomination in the country. Since religions were liberalized after the attainment of political independence in AD 1964, the church has experienced declining congregations due to the registration of new denominations, especially the Pentecostal ones. The decline has been noticeable from the beginning of the 21st Century but there are no reports of strategies to resolve the phenomenon. Since congregation members are the customers for a (...) church, the declining phenomenon indicates a marketing problem that requires a marketing strategy. This research investigated how the ACK is operationalizing a marketing strategy and its influence on its sustainability. The ACK operates on standardized structures and a diocese is the highest independent unit. This research was conducted in the diocese of Kirinyaga as the unit of analysis with Wanguru Archdeaconry as the unit of observation. The independent variables were the elements of the marketing mix, namely Product, Promotion, Position and Price strategies while the dependent variable was the church sustainability. Data collection involved 308 participants drawn from the 19 parishes in the Wanguru archdeaconry and included the church leadership and the congregation members. The research instruments were a semi-structured questionnaire and interviews. For the Product variable, the research applied the Maslow Hierarchy of needs theory while for the promotion variable, it was the AIDA Model (Attention, Interest, Desire and Action). For the positioning strategy, the Segmentation, Targeting and Positioning (STP) Model was applied while the Value-Based Pricing theory was used for the price strategy. For church sustainability, the research applied the Triple Bottom Line model. Data analysis was conducted using Structural Package for Social Sciences (SPSS). The results indicated that the ACK has not operationalized an effective marketing strategy for while the Gospel as the marketing product of the church was highly rated, there were low scores for Promotion, Position and Price strategies. (shrink)

Some bioethicists have proposed a legalized market in human organs as a solution to transplant waiting lists and global poverty. Solutions to organ procurement problems that are solely market-based would unfairly shift the burdens of medical procedures onto developing nations. Market advocates base their claims on the understanding of organs as property, a position that should be problematized. Instrumentalizing people in this way is part of the broader commodification of animals and the environment. Combating the (...) class='Hi'>market mentality requires a return to the holistic view of bioethics that led to the founding of the field. (shrink)

This paper discusses Marx’s critique of the market in the light of Allan Megill’s recent book, Karl Marx: the Burden of Reason. Megill offers two main arguments concerning Marx’s critique. Firstly, Megill claims that, contrary to Marxian orthodoxy, Marx’s well-known theory of alienation does not in fact amount to an unambiguous critique of market society – in particular, Megill maintains that Marx lacks a clear argument demonstrating that worker alienation is an inevitable effect of the system of private (...) property. Secondly, Megill claims that the real reason why Marx rejected the market was because Marx could not account for the market’s arbitrary behaviour in terms of his rationalist conception of science (which Megill characterises, roughly speaking, as a synthesis of Hegel’s rationalism and Newtonianism). I take issue with Megill’s reading of Marx on three counts. Firstly, I claim, in opposition to Megill, that Marx does indeed have a coherent theory of alienation and one that undoubtedly implies that worker freedom and private property are incompatible. Secondly, I contend that Marx was not actually committed to scientific rationalism and hence could not have been opposed to the market on such grounds. Thirdly, I submit that Marx’s deep misgivings about market anarchy were based instead on his belief that the arbitrary nature of the market was a major barrier to individual freedom (and moreover formed an integral part of the whole system of private property). Finally, I discuss Marx’s claim that a fully planned economy is an essential prerequisite for the full and proper realisation of individual freedom, and consider, briefly, in this light, whether market socialism might in fact be a superior instrument for the fulfilment of Marx’s emancipatory aims. (shrink)

The paper offers a general overview of the transformation of the politics of memory in Poland from 1989 to 2021 in the context of the post-socialist transition market economy, simultaneous processes of nation-state building, European integration and the building of regional alliances with neighbouring states. The past is seen here as an instrument of both internal political struggle and foreign policy. In post-socialist Poland, two competing paradigms for working with the past have emerged. The first focused on liberal and (...) conciliatory patriotism aimed at integration into the EU, and tried to take into account the historical narratives of neighbours and national minorities. The second paradigm is nationalist, critical of ideological trends in the EU, aimed at eliminating internal and external enemies, as well as encouraging national pride. Particular attention is paid to new performative techniques of public experience of the past and historical reenactment in the process of reassembling Polish collective memory. The Law and Justice Party radically rethought not only the socialist experience but also the years of post-socialist transformation. Through mass public history based on spectacle and reenactment, the Law and Justice Party created a mythopractic that effectively mobilized groups excluded from the benefits of free-market transformation by identifying them with "cursed soldiers" — an anti-communist guerrilla from 1940-1950. (shrink)

Using an international setting consisting of 5410 corporations domiciled in 24 countries, we test the insurance-like effect of corporate social responsibility (CSR) performance in the era of the pandemic and confirm that CSR performance increases socially responsible companies’ resilience against the adverse effects of the crisis. Comparing stakeholders' responses to CSR activities during the pandemic and normal periods, we observe that the link between CSR performance and firm value is stronger during the crisis period. We also realize that the social (...) aspect of CSR performance is the main driver for the mentioned effects. Finally, comparing the resilience of highly committed socially responsible companies with those with moderate and very low CSR ratings, we observe that best-in-class companies enjoy the greatest buffering effects, implying that the insurance-like effect of CSR performance is non-linear against systematic crises. Findings are robust to ceremonial CSR activities, extreme values of market-based instruments, endogeneity concern, etc. (shrink)

Invisible work is neither defined nor recognized as labor and is not compensated as such. Studies show that manifestations of invisible work at home flow into the marketplace. What is lacking is systematic conceptualization and measurement of invisible work in the labor market built upon women’s and men’s knowledge and experiences. In this study, I address this lacuna using mixed-method sequential analysis. Twelve group interviews of employed women and men of varied socioeconomic locations in Israel yielded diverse expressions of (...) invisible practices in the workplace and their gendered meanings. Based on that knowledge, a typology of invisible work types was deduced, and an instrument was developed and distributed through a survey to a representative sample of the Israeli labor force. Regression analyses revealed that women and other disadvantaged groups do more invisible work at work than men and more advantaged groups do, regardless of occupation and managerial position. Beyond that, there are varied relations between labor market position and performing invisible work, across different types of practices. The study develops a typology of invisible work as a heuristic device contributing to office housework theory. I argue that invisible work should be conceived as an integral part of the labor market that needs to be considered when studying gender inequality. (shrink)

The question of whether corporate social responsibility (CSR) has a positive impact on firm value has been almost exclusively analysed from the perspective of the stock market. We have therefore investigated the relationship between the valuation of Euro corporate bonds and the standards of CSR of mainly European companies for the first time in this article. Generally, the debt market exhibits a considerable weight for corporate finance, for which reason creditors should basically play a significant role in the (...) transmission of CSR into the valuation of financial instruments. Given that socially responsible firms are often regarded as economically more successful and less risky, they should have lower risk premia. The results of the empirical analysis, however, reveal that based on an extensive data panel the risk premium for socially responsible firms – according to the classification by SAM Group – was ceterius paribus higher than for non-socially responsible companies. However, only one case of the models investigated was weakly significant. Thus, largely the relationship has to be classified as marginal; so CSR has apparently not yet been incorporated into the pricing of corporate bonds. (shrink)

This paper builds on London and Hart’s critique that Prahalad’s best-selling book prompted a unilateral effort to find a fortune at the bottom of the pyramid. Prahalad’s instrumental, firm-centered construction suggests, perhaps unintentionally, a buccaneering style of business enterprise devoted to capturing markets rather than enabling new socially entrepreneurial ventures for those otherwise trapped in conditions of extreme poverty. London and Hart reframe Prahalad’s insight into direct global business enterprise toward “creating a fortune with the base of the pyramid” rather (...) than at the BoP. This shift in language requires a recalibration of strategic focus, we argue, and will necessitate implementation of “moral imagination” to formulate new mental models that can frame the possibility of local entrepreneurs working collaboratively and discursively with development partners drawn from civil society, corporate, and government sectors. Successful partnerships will arise from interactive processes of emergent, co-creative learning within a shared problem domain or “community of practice”. We call attention to three related pluralist framings of situated learning within such communities of practice: decentered stakeholder networks; global action networks; and a focus on “faces and places” as a cognitive lens to humanize and locally situate diverse inhabitants within base of the pyramid partnership projects. (shrink)

Control of the market microstructure theory of corporate governance perspective on the traditional theory of the firm as a deepening of the study, the use of information economics and game theory tools to the mainstream economic analysis framework for the development, the market for corporate control transactions, configuring and tuning the details of the process accurately describes the shares of companies in the separation of ownership and control of internal control case shareholders, tender offers, takeover bids and other (...) governance mechanisms different from the actual control and operation of, the existence of incomplete information and transaction costs under control conditions to analyze market transactions , from the perspective of market microstructure control to clarify the shareholders of the managers to implement effective control mechanisms, policies and conditions. Share control over the behavior of financial market issues, equity market and environmental factors control the interaction between the control and equity issues in the legal protection and market control policy design issues will be the future theoretical research in this field focus. Corporate governance theory based on corporate control market microstructure focuses on trading, allocating and adjusting process of the corporate control market, applying the information economic approach and game instrument to expand the mainstream economic analysis framework. It accurately describes the factual operation of different corporation control and governance mechanism such as corporation owner's internal control, tender offer, takeover bid and negotiating transfer, deepening the traditional firm theory. Moreover it analyzes the corporate control market transactions on the case of incomplete information and positive transaction cost, examines the effective mechanism, strategies and condition by which the owner control and monitor the management based on corporate control market microstructure perspective. Those are the future research topics in this field that behavior finance, interaction with environments and legislation protect and regulation policy designations. (shrink)

The paper deals with the topical issue of studying cyclic patterns in the economy and their practical application for the forecasts on the development of financial markets. The work aims to establish the features of the seasonal-cyclic patterns "The January barometer" and "The first five days of January" in the international financial markets in current conditions and to develop recommendations for the practical application of these patterns in the investment activities. The US stock market as an integral part of (...) the World financial market was chosen as a basis for research. The research was conducted by statistical processing of data on the values of the broad market index Standard & Poor's-500 for the period from 1950 to 2019. The study showed that the formation of forecasts about the annual growth or decline of the stock market index using the seasonal-cyclic patterns "The January barometer" and "The first five days of January" can show a high result in cases where the growth of the Standard & Poor's-500 index by the results of both the first five days of January and the results of the entire month of January of this year is a positive value. Otherwise, forecasting based on these instruments is not advisable. The best results (the forecast efficiency was 93.3%) were achieved with the joint application of both cyclic patterns. The practical application of the research results makes it possible to improve the efficiency of investment activities in international financial markets. (shrink)

The paper examines the structure of the mathematical instrument making trade in London from the mid-sixteenth century to the opening of the Hanoverian era. This analysis of the trade is primarily based on evidence drawn from contemporary advertising. A distinction between informal editorial recommendations and advertising per se is made. It is concluded that up to the mid-seventeenth century mathematical instrument makers worked in either wood or metal. After that date a growing number of workshops advertised that they manufactured (...) in all media. Advertising was aimed at informing professional users from whom particular instruments could be purchased, but not on informing customers in specific terms of the range of instruments manufactured. It is concluded that until the early eighteenth century most mathematical instruments were commissioned. Only towards the end of the period is there evidence of over-the-counter sales, and advertising aimed at encouraging the growing consumer market to buy mathematical instruments for the practice of science as a social or recreational activity. (shrink)

Using the mainstreaming of socially responsible investing as our empirical context, we show that as the divestment movement in the late twentieth century got institutionalized by being incorporated as a business strategy into more mainstream financial instruments like mutual funds, the prior meanings and categorical definition of ethical investing became ambiguous due to fuzzy boundaries, duality of virtue inherent in the portfolio targets, and exercise of discretion by portfolio managers. We find that increased heterogeneity in standards led to greater (...) ambiguity about who belongs to a category, and fund managers adopted distinct measures-based, values-based and expertise-based approaches to resolve this ambiguity. One consequence of such ambiguity is that individual self-expression, self-consciousness and agency that are central in such movements become appropriated by discretionary and meaning-making work at the institutional level. (shrink)

In this essay we argue that attempts to justify the value of the liberal arts in narrowly instrumental ways are a mistake, one that is likely to miss the central importance of a liberal arts education. Of course, we do not claim here that such instrumental justifications are completely wrong, but that in so far as liberal education is defended primarily in terms of enhanced practical outcomes (better paying jobs, saleable professional skills, higher scores on graduate and professional admissions exams, (...) and so on) advocates will fail to articulate one of the most important reasons for study in the liberal arts. We will characterizeliberal education as a practice of reflecting on, discussing, and evaluating the question of what sort of lives I we should lead. Based on this, we then offer whatwe believe is a more promising, more consistent way of justifying liberal education. (shrink)

In this study we argue that there is an interconnection between; the mechanistic worldview and competition, and the organic worldview and cooperation. To illustrate our main thesis we introduce two cases; first, Max Havelaar, a paradigmatic case of how business might function in an economy based upon solidarity and sustainability. Second, TINE, a Norwegian grocery corporation engaged in collusion in order to force a small competitor out of the market. On the one hand, in order to encourage (...) class='Hi'>market behaviour that integrates economic, societal and environmental values we find that transparent cooperation within a context of an organic worldview takes care of important intrinsic as well as instrumental values. On the other hand, we find evidence for asserting that cooperation based upon a mechanistic worldview, typically leads to group egotistical consequences undermining the long term common good. (shrink)

Islamic banking, based on the prohibition of interest, is well established throughout the Muslim world. Attention has now turned towards applying Islamic principles in equity markets. The search for alternatives to Western style markets has been given added impetus in Muslim countries by the turmoil in Asian financial markets in 1997. Common stocks are a legitimate form of instrument in Islam, but many of the practices associated with stock trading are not. In this paper the instruments traded and (...) the structure and practices of stock markets are examined from an Islamic perspective. Speculation is not acceptable in Islam and measures would have to be taken to control speculative trading. In addition short selling and margin trading are severely restricted. The use of stock index and equity futures and options are also unlikely to be acceptable within an Islamic market. Regulatory authorities in Muslim countries will therefore find a vast array of problems in attempting to structure a trading system that will be acceptable. (shrink)

Competency has become a key concept in education in general over the last four decades. This article examines the development of the competency‐based movement with a particular focus on the significance it has had for nursing education. Our hypothesis is that the competency movement can only adequately be understood if it is analyzed in relation to the broad societal transformation of the last decades—often summarized under the catchword neoliberalism—and with it the emergence of managerial models for Human Resource Management (...) (HRM) for the reorganization of social services. Classical professions, which were characterized under welfarism by an esoteric knowledge based on ethical norms, have now become marketable commodities that can be evaluated in the same way as other commodities. We want to underline that while this development is still under way, it is the concept of competency that was the decisive political instrument enabling this profound change. With the widespread implementation of competency‐based education that now governs nursing knowledge, the development of a critical, oppositional perspective becomes more challenging, if not entirely impossible. We will be focusing primarily on nursing education in Canada, although we maintain that it has relevance for nursing internationally. (shrink)

Economists assume that people are fundamentally greedy, though not exclusively so. If environmental improvement is to be achieved, it will require policies that use selfishness rather than opposing it. Such policies are to be found in the basics of green economics in which market signals are modified by environmental taxes and tradeable pollution certificates to 'decouple' the economic growth process from its environmental impact. Green economic policies avoid the infringements of human liberties implied in ever stronger 'command and control' (...) measures. (shrink)

The guide dog robot (GDR) is a low-speed companion robot that serves visually impaired people and is used to guide blind people to walk steadily, carrying a variety of intelligent technologies and needing to have the ability to guide with optimal energy consumption in specific scenarios. This paper proposes an innovative technique for virtual-real collaborative path planning and navigation of the GDR specific indoor scenarios, and designs an experimental method for virtual-real collaborative path planning of the GDR specific scenarios. The (...) energy consumption integral equation is used to solve for the energy consumption of the GDR with virtual-real synergy, and the difference in energy consumption is compared for three different navigation directions: horizontal, vertical and oblique obstacle avoidance. The results show that the optimized GDR saves 6.91% in rectilinear movement and 10.60% in curved movement. The efficiency of planning and navigating the GDR in specific domestic scenarios is verified by a virtual-real cooperative. The realization of optimal path planning for energy consumption is instrumental in exploring many of the most significant thought in the path planning and navigation of mobile robots in indoor specific scenarios. (shrink)

A patent is a property granted to any new shape, configuration or arrangement of elements, of any device, tool, instrument, mechanism or other object or part thereof, that allows for a better or different operation, use or manufacture of the object that incorporates it or that provides it with some utility, advantage or technical effect that it did not have before. As a document, a patent really is a title that recognizes the right to exploit the patented invention exclusively, preventing (...) others from making, selling or using it without the consent of the owner. The fact of making a patent is motivated by the fact of promoting creativity, hindering competition in the market as only one person holds the patent, thus protecting the initial investment and fighting against plagiarism. Patents are available to the public for dissemination and general knowledge. It is generally recognized in the specialized literature that patents can be used as an indicator to calculate the results generated by research and development activities, being a very useful indicator to measure various social, economic or technological aspects. For this reason, it is of relevant interest to have tools or systems that allow us to obtain the patents developed in a specific period of time and to carry out analyses of various economic and social factors. These analyses can serve to obtain a social perspective of society’s progress in the technological field, and this is why an analysis of patents is of our interest. This paper proposes a platform specifically designed to obtain knowledge about patents as an indicator of Spanish social, economic or technological aspects. For this purpose, the platform retrieves, analyses and visualizes functionalities that represent data on the landscape of patents obtained from the Spanish Patent and Trademark Office as a particular case of study. (shrink)

Using panel data of 4,244 company years, we examine whether and how corporate social performance affects a firm's capacity to achieve profitable sales in foreign markets. Based on our extension of instrumental stakeholder theory into the international arena, we hypothesized a U-shaped relationship between CSP and multinationality. Results supported our contention that multinational enterprises need to be substantially committed to social performance objectives if they are to recoup the cost of their CSP investments, and improve their capacity to compete (...) in foreign markets. MNEs engaged in intermediate levels of CSP achieve lower levels of multinationality than firms operating at either anchor of the social performance continuum. In addition, this study demonstrates that CSP moderates a well-established relationship in international business literature - the relationship between R&D investment and a firm's multinationality. Implications for research and practice are discussed. (shrink)

Incremental change and innovation are often regarded as two separate concepts, with some interconnections. Based on two practical cases that emphasize respectively incremental change and innovation, the article discusses whether a division between these concepts can be maintained. Action research is seen as having a central role, offering an integral working method in industrial networks.

Large corporations are coming under intense pressure to act in a socially responsible manner. Corporations have accepted this notion provided that it is exercised voluntarily. It has also been argued that corporations can do well by doing good, and that good ethics is good business. This paper presents an alternative viewpoint by demonstrating that while voluntary socially responsible conduct is desirable, it plays a rather small role in inspiring good corporate conduct. Instead, (a) it is the external economic-competitive conditions that (...) define the parameters and opportunities for good corporate conduct; and (b) the values and traditions of the corporations, and their perceived risk in exploiting those opportunities, that influence the extent of a corporation's socially responsible conduct. The framework presented here analyzes certain market-competitive conditions, which determine the scope and direction of socially responsible corporate conduct, and the instruments available to society to enhance ethical corporate conduct. It suggests that from society's perspective, we should move away from the notion of corporate social responsibility and toward corporate social accountability. Most modern economies operate under conditions of imperfect competition where corporations gain above-normal profits, i.e., market rent, from market imperfections. Therefore, corporations should be held accountable for a more equitable distribution of these above-normal profits with other groups, e.g., customers, employees, etc., who were deprived of their market-based gains because of market imperfections and corporate power. Three approaches are suggested for measuring corporate accountability through corrections. These are: information imbalance, bargaining power imbalance, and, adjudication, remedy and relief imbalance. (shrink)

Relevance of the article is determined that current conditions in global financial markets to impose competitiveness and solvency of the stock market higher requirements to meet is becoming increasingly difficult given the present realities of economic instability and uncertainty. Defects of the stock market Ukraine is its low capitalization, liquidity, limited range of financial instruments. In this regard it more urgent study of current conditions, trends and characteristics of the stock market. The article is an analysis (...) of the dynamics of the stock market based on the calculation of integrated indicators in individual segments. Integrated indicators are used to obtain information about the state of the securities market as a whole or its individual segments, as well as the qualitative state of the infrastructure market. The integral index is a measure of activity in the securities market within national boundaries, which characterizes the state of domestic markets that exist in this country, or the share of which accounts for a significant portion of the securities market of the country. In the article the estimation of the dynamics and structure of registered volume of securities on the stock market of Ukraine, the number of issues, trading volumes on their stock exchange and OTC segment is given. Analysis is conducted by main financial instruments: stocks, state, municipal, corporate bonds, derivatives, securities, collective investment institutions. The methodical approach to the integrated assessment of the stock market Ukraine on the basis of calculation of integral index is grounded. The reasons of deteriorating it, reducing the share of trading quality financial instruments represented primarily government bonds Ukraine, which are traded on the stock exchange segment, and increase the proportion of shares and securities of joint investment institutions, many of which are not traded on the stock exchange and has low liquidity. (shrink)

Purpose of the article is to partially describe underpinning economics for the circular economy. A circular economy is an advancement from the linear economy which behaves according to the hierarchy of 6R, preferring reuse, remanufacture or recycle solutions insead of disposal. This new approach is a trigger of new business models seeking many times vor various kinds of support from the side of government. However, governmental support is not neither the only option nor the most functional one. Underpinning economics for (...) the circular economy can be based also at market-based tools. What we have in mind under this term for the purspose of this paper is the game in the market being played between buyers and sellers. Methodology: We have analyzed this interaction using game theory tool. The scietific goal of our paper was to suggest a quick market-based solution how to support circular economy business models whilst helping to the society to solve certain social problems. Our findings have led to a newly proposed way, how the current game in pricing could be changed. An emphasis shall be placed on strategies how to rise prices of linear economy products whilst offering wider social benefits to small sellers of such products. The price increase of linear economy products is considered in this paper as a market-based incentive to support recycled, remanufactured ones, whilst circular economy products are becoming more economically feasible in comparison with more expensive linear economy products. (shrink)

Cryptocurrency could redefine the interplay of Internet-connected world markets by eliminating constraints set by traditional local currencies and exchange rates. It has the potential to revolutionise digital markets through the use of duty-free trading. This study investigates the factors which influence the behavioural intention to use cryptocurrency based on the Technology Acceptance Model 3 (TAM 3) during the COVID-19 (SARS-COV-2) pandemic. Data were collected through a cross-sectional questionnaire from 357 Pakistani business-educated adults, including investors who had a rudimentary understanding (...) of the technology and financial instruments. Partial least square (PLS)-based structural equation modeling (SEM) was used to test the developed theoretical framework based on the Technology acceptance model 3. The PLS model has explained 72.1% of what constitutes the behavioural intention to use cryptocurrency. Surprisingly, risk was not a major consideration. This might be due to the fact that the majority of respondents thought working with cryptocurrency was hazardous. Willingness to handle cryptocurrency risk, on the other hand, might be a stumbling block to acceptance. The most essential aspect of a cryptocurrency's success was the perceived usefulness. Moreover, the moderating role of experience was not substantiated in this study. However, perceived usefulness was identified as a partial mediator of subjective norm and the perceived ease to use. This study contributed to the literature through the application of TAM 3 (an extension of the technology acceptance models) to investigate the fundamental qualities a cryptocurrency should have in order to influence investor's behavioural intention to use it. These findings provide revolutionary insights for the present and future market players for investment planning and for improved cryptocurrencies development. (shrink)

Market-based social governance schemes that establish standards of conduct for producers and traders in international supply chains aim to reduce the negative socioenvironmental effects of globalization. While studies have examined how characteristics of social governance schemes promote socially responsible producer behavior, it has not yet been examined how these same characteristics affect consumer behavior. This is a crucial omission, because without consumer demand for socially produced products, the reach of the social benefits is likely to be limited. We (...) develop a comprehensive model that links twocharacteristics of market-based social governance schemes—(1) stringency and enforcement of requirements, and (2) promotion—to two conditions required for governance schemes to generate significant social benefits: (1) socially responsible behavior of participating firms; and (2) consumer demand for socially produced products which, in turn, expands products produced according to social governance schemes, and thus, the quantity of social benefits. We discuss market-based social governance schemes in the context of fair trade coffee. (shrink)

This paper looks at the prehistory of the foreclosure crisis in Cleveland, Ohio, in order to understand the effectiveness of civil society organizations in mitigating its impact on the city’s neighborhoods. Social theorists and movement activists have often postulated civil society as an authentic and voluntaristic realm in which we constitute and act on shared values. The voluntary nature of civil society organizations also, it is argued, make them more responsive, adaptable, and effective in meeting the needs of the communities (...) they operate in. The question is whether or not this has held true in the contemporary crisis. I find that in the 1970s, Cleveland’s community-based organizations were instrumental in securing resources from government and private philanthropies to deal with the urban crisis. The unintended result of this success was a general rationalization of Cleveland’s civil society around narrow practices and market-based conceptions of value. In the process, civil society was transformed into a political technology that solved various dilemmas of rule, but at the same time it was transformed into a civic monoculture that made the city especially vulnerable to foreclosure. A key implication of this analysis is that civil society has been transformed into an object and stake of urban politics and, as a result, it should not be expected to protect society against neoliberal institutional transformations. (shrink)

As Kant claimed in the Groundwork, and as the idea has been developed by Korsgaard 1997, Bratman 1987, and Broome 2002. This formulation is agnostic on whether reasons for ends derive from our desiring those ends, or from the relation of those ends to things of independent value. However, desire-based theorists may deny, against Hubin 1999, that their theory is a combination of a principle of instrumental transmission and the principle that reasons for ends are provided by desires. Instead, (...) they may say, there is just one principle, a principle of, if you will, instrumental transmutation: if one desires the end, then one has reason to take the means. See the discussion of General Production, in section 8, for a doubt about this. (shrink)

In the US, an increasingly popular local food movement is propelled along by structural arguments that highlight the inequity and unsustainablity of the current agri-food system and by individually based arguments that highlight personal health and well-being. Despite clear differences in their foci, the deeper values contained in each argument tend to be neglected or lost, while local innovations assume instrumental and largely market-based forms. By narrowing their focus to the rational and the economic, movement activists tend (...) to overlook (or marginalize) the role of the sensual, the emotional, the expressive for maintaining layered sets of embodied relationships to food and to place. This paper seeks to show that cultural and nonrational elements are fundamental to local food discussions. It proceeds from the assumption that, without them as full partners, the movement cannot be sustained in any felt, practiced, or committed way. To this end, it discusses the concept of place and bodies in place, as well as the connections between the ecological and the cultural, the sensual and the scientific. It offers a new set of questions and conceptual tools with which advocates and activists may “ground,” and thereby revalue and restore, the promise and practice of local food. (shrink)

This essay proposes a way of dealing with the strict liability of Internet sellers of other manufacturers’ products, such as Amazon under its ‘Fulfillment by Amazon’ program. I discuss and reject two approaches to the problem that have been proposed by the courts, and advance a view according to which the relevant inquiry is whether Internet intermediaries such as Amazon could have prevented a defective product from reaching the US market. This view accounts in a satisfactory manner for the (...) notion of responsibility that is at the core of US strict products liability law, and avoids the pitfalls of alternative policies. However, since this view also entails a de facto quasi-immunity to lawsuits for Internet intermediaries in many cases, safeguards to that quasi-immunity are also addressed. While the essay focuses on US law, the principles and policies under discussion should be applicable in other jurisdictions as well. (shrink)

Market-based social governance schemes that establish standards of conduct for producers and traders in international supply chains aim to reduce the negative socioenvironmental effects of globalization. While studies have examined how characteristics of social governance schemes promote socially responsible producer behavior, it has not yet been examined how these same characteristics affect consumer behavior. This is a crucial omission, because without consumer demand for socially produced products, the reach of the social benefits is likely to be limited. We (...) develop a comprehensive model that links twocharacteristics of market-based social governance schemes—(1) stringency and enforcement of requirements, and (2) promotion—to two conditions required for governance schemes to generate significant social benefits: (1) socially responsible behavior of participating firms; and (2) consumer demand for socially produced products which, in turn, expands products produced according to social governance schemes, and thus, the quantity of social benefits. We discuss market-based social governance schemes in the context of fair trade coffee. (shrink)

Markets have long had a whiff of sulphur about them. Plato condemned innkeepers, whose pursuit of profit he believed led them to take advantage of their customers, Aristotle believed that the pursuit of profit was indicative of moral debasement, and Cicero held that retailers are typically dishonest as this was the only path to gain. And even those who are more favorably disposed towards markets in general are frequently inclined to be suspicious of markets in medical goods and services. For (...) example, Margaret Thatcher supported the legal prohibition of markets in kidneys despite being arguably the most pro-market Prime Minister the United Kingdom saw in the 20th century. (shrink)

This paper questions the dominance of market-based mechanisms (MBMs) as the primary means of climate change mitigation. It argues that, not only they are unsuccessful on their own terms, but also they actually make the task more difficult by the unintended consequence of normalising the act of polluting and crowding out alternatives. The theoretical contribution of the paper is to draw a link between two bodies of literature. The first is the business ethics literature on the dominance of (...) market-based rather than direct regulation, and the second is the literature on market ethics, particularly the work of Michael Sandel on how MBMs crowd out non-market norms. The empirical contribution is to use the international maritime transport sector to illustrate the way market-based regulation renders alternatives such as direct regulation and supply-side approaches invisible. (shrink)

On the basis of a historical reconstruction of the stages through which the Christian notion of sin took shape in Protestantism, the significance of this term for modern bioethics is derived from its opposition to a holiness of God and his creatures, which in turn translates into the secular moral concept of dignity. This dignity imposes obligations to respect and to relationships that are sustained by faithfulness and trust. In being based on the gratuitousness of God’s grace, such relationships (...) preclude attempts at instrumentalization, denial of singularity, and subjection to market forces. Accordingly, reproductive cloning as well as exposing medicine to economical considerations can be classified as sinful. The difference between sinful acts and humans’ sinful state furthermore permits to address the problems of evil and misfortune in the world, and to acknowledge humans’ responsibility for the threats to humanity entailed by those ills. While the Christian faith relies on God’s mercy, it also imposes the task of following Christ by fighting against evil and misfortune. (shrink)

Marketing in the social network environment integrates current advanced internet and information technologies. This marketing method not only broadens marketing channels and builds a network communication platform but also meets the purchase needs of customers in the entire market and shortens customer purchases. The process is also an inevitable product of the development of the times. However, when companies use social networks for product marketing, they usually face the impact of multiple realistic factors. This article takes the maximization of (...) influence as the main idea to find seed users for product information dissemination and also considers the users’ interest preferences. The target users can influence the product, and the company should control marketing costs to obtain a larger marginal benefit. Based on this, this paper considers factors such as the scale of information diffusion, user interest preferences, and corporate budgets, takes the influence maximization model as a multiobjective optimization problem, and proposes a multiobjective maximization of influence model. To solve the NP-hard problem of maximizing influence, this paper uses Monte Carlo sampling to calculate high-influence users. Next, a seed user selection algorithm based on NSGA-II is proposed to optimize the above three objective functions and find the optimal solution. We use real social network data to verify the performance of models and methods. Experiments show that the proposed model can generate appropriate seed sets and can meet different purposes of information dissemination. Sensitivity analysis proves that our model is robust under different actual conditions. (shrink)