We study behind-the-scenes investor activism promoting environmental, social, and governance improvements by means of a proprietary dataset of a large international, socially responsible activist fund. We examine the activist’s target selection, forms of engagement, impact on ESG performance, drivers of success, and effects on the targets’ operations and value creation. Target firms are typically large and visible, perform well, and have high liquidity and low ESG performance. Engagement induces ESG rating adjustments: firms with poor ex ante ESG ratings experience a (...) ratings increase after complying with the activist’s demands, whereas firms with high ex ante ESG ratings experience a ratings decrease following the revelation of their ESG problems. Activism that is focused on environmental and social issues is more likely to succeed if targets are ESG-sensitive. Successful engagements boost targets’ sales. Risk-adjusted excess stock returns of successful engagements outperform those of unsuccessful engagements by 2.7%. Results are especially strong for firms with low ex ante ESG scores. Specifically, targeted firms in the lowest ex ante ESG quartile outperform matched peers by 7.5% in the year after the end of the engagement. Our results thus suggest that the activism regarding corporate social responsibility generally improves ESG practices and corporate sales and is profitable to the activist. Taken together, we provide direct evidence that ethical investing and strong financial performance, both from the activist’s and the targeted firm’s perspective, can go hand-in-hand together. (shrink)

The paper contrasts Robert Brandom’s account of rationality with that of Daniel Dennett. It argues that neither of them is tenable, and sketches an alternative outlook that avoids the problems. In spite of their fundamental differences, both Brandom and Dennett employ a robust, i.e. explanatory and predictive notion of rationality, and for different reasons they both fail to offer a plausible theory supporting it. The lesson offered here is that rationality should not be treated alongside other norms prescribing behaviour, as (...) it cannot be accounted for in the same terms. Instead of ascribing rationality a robust role in a philosophical understanding of behaviour, it should be assigned a more modest one: its function should be located not in the context of explaining and predicting behaviour, but in the context of narratives folk psychological interpretation offers. (shrink)

The Hungarian health care system is scheduled to undergo dramatic structural changes, emphasizing preventive medicine, health education, and competition among providers. Keywords: cost control, health care reform, health education, Hungary, market system, preventive medicine CiteULike Connotea Del.icio.us What's this?

Wish-fulfilment as a singular means of satisfying ineluctable desire is a pivotal concept in classical psychoanalysis. Freud argued that it was the thread that united dreams, daydreams, phantasy, omnipotent thinking, neurotic and some psychotic symptoms such as hallucinations and delusions, art, myth, and religious illusions. The concept's theoretical exploration has been largely neglected within psychoanalysis since, but contemporary philosophers have recognised it as providing an explanatory model for much of the kind of irrational behaviour so problematic for psychiatry, social psychology (...) and the philosophy of mind. Although critically neglected in contemporary psychological and psychoanalytic thought, the concept remains clinically fundamental, under different labels: it encompasses the processes of omnipotent phantasy, symbolic or substitutive satisfaction, actualisation in transference and acting out, symptom formation and defenses such as projective identification. Wish-fulfilment can be shown to be a specifically psychoanalytic compartment of a common-sense psychological theory of action that illuminates not just clinical material but also the paradoxes of irrationality – such as weakness of will and self-deception – that preoccupy philosophers. The first half of this book develops a comprehensive and novel theory of wish-fulfilment, explores its radical implications for the structure of mind, and locates it against the backdrop of both contemporary psychoanalytic and philosophical thought. In the second half, the book applies the theory to illuminate important features of self-deception and delusion, religion, insanity defences, creative writing and the exclusion of mind and intention in the biological drift of modern psychiatry. The book will be essential to philosophers of mind, psychoanalysts, psychiatrists, psychologists, social theorists, and students in these disciplines; as well as readers interested in understanding how the mind works in mental illness, self-deception, religion, and creative writing. (shrink)

Chromatic induction is a major contextual effect of color appearance. Patterned backgrounds are known to induce strong chromatic induction effects. However, it has not been clarified whether the spatial extent of the chromatic surrounding induces a chromatic contrast or assimilation effects. In this study, we examined the influence of the width of a center line and its flanking white contour on the color appearance when the line was surrounded by chromatic backgrounds. A strong color shift was observed when the center (...) line was flanked by white contours with the L/M- and S-cone chromatic backgrounds. There was a difference between the optimal widths of the center line and the contour for the shift in color appearance for the L/M-cone chromaticity and the S-cone chromaticity. The optimal width of the center line for the L/M-cone was finer than the resolution-limit width of the chromatic contrast sensitivity and coarser than that of the luminance contrast sensitivity. Thus, the color appearance of the center line could be obtained by integrating broad chromatic information and fine luminance details. Due to blurring and chromatic aberrations, the simulated artifact was large for the darker center line and S-cone background, thus suggesting that the artifact could explain the luminance dependency of the induction along the S-cone chromaticity. Moreover, the findings of this study reveal that the dominant factor of the color shift is neural instead of optical. (shrink)

Artificial Culture" is an examination of the articulation, construction, and representation of "the artificial" in contemporary popular cultural texts, especially science fiction films and novels. The book argues that today we live in an artificial culture due to the deep and inextricable relationship between people, our bodies, and technology at large. While the artificial is often imagined as outside of the natural order and thus also beyond the realm of humanity, paradoxically, artificial concepts are simultaneously produced and constructed by human (...) ideas and labor. The artificial can thus act as a boundary point against which we as a culture can measure what it means to be human. Science fiction feature films and novels, and other related media, frequently and provocatively deploy ideas of the artificial in ways which the lines between people, our bodies, spaces and culture more broadly blur and, at times, dissolve. Building on the rich foundational work on the figures of the cyborg and posthuman, this book situates the artificial in similar terms, but from a nevertheless distinctly different viewpoint. After examining ideas of the artificial as deployed in film, novels and other digital contexts, this study concludes that we are now part of an artificial culture entailing a matrix which, rather than separating minds and bodies, or humanity and the digital, reinforces the symbiotic connection between identities, bodies, and technologies. "--Provided by publisher. (shrink)

It is essential for social robots to fit in the human society. In order to facilitate this process we propose to use the family dog’s social behaviour shown towards humans as an inspiration. In this study we explored dogs’ low level social monitoring in dog-human interactions and extracted individually consistent and context dependent behaviours in simple everyday social scenarios. We found that proximity seeking and tail wagging were most individually distinctive in dogs, while activity, orientation towards the owner, and exploration (...) were dependent on the context and/or the activity of the owner. The functional analogues of these dog behaviours can be implemented in social robots of different embodiments in order to make them acceptable and more believable for humans. Keywords: dog-owner interaction; social robotics; low-level social monitoring; greeting behaviour; individually distinctive behaviours. (shrink)

A piliscsabai Pázmány Péter Katolikus Egyetem oktatója, Hankovszky Tamás (két kivételtől eltekintve) az utóbbi évtizedben megjelent publikációiból állította össze tanulmánykötetét. A filozófiai, teológiai és irodalmi ihletésű írásokat mindenekelőtt "az Istennel való találkozás" keresztény hite fűzi egybe, és persze a filozófiatörténész szerző preferenciái (Pilinszky, Camus, Mauriacimon Weil, Dosztojevszkij). "Minden találkozás olyan partnereket követel, akik szabadon megnyílnak egymásnak, de nem oldódnak fel egymásban, akik a másik közelségére vágynak, mégis megőrzik a köztük lévő távolságot, mert a dialógust keresik, és a dialógus lételeme (...) a különbözőség. Ám az ember csak azért különbözik a másik embertől és Istentől, hogy kapcsolatba léphessenek" - olvasható az ismertetőben. Mivel Hankovszky professzor a találkozásban és a párbeszédben látja az élet értelmét és végső célját, a kötet kívül áll azon a misztikát is felölelő monista hagyományon, amely az Istennel való minél teljesebb egyesülésre, Isten és ember egységére törekszik, és a vele való párbeszédet, a kölcsönös megszólítást pusztán a cél felé vezető út első lépésének tekinti. Azonban éppen azért áll kívül ezen az ősi és tiszteletreméltó hagyományon, hogy dialógust folytasson vele, és így teljesebben érthesse meg Isten és ember viszonyát, valamint megtalálja benne a földi lét, a művészet és a kultúra igazi helyét. A szakkönyvtárak anyagába ajánlható kötetet rövidítés- és irodalomjegyzék, valamint az esszék és tanulmányok első megjelenési helyeinek listája teszi teljessé. (shrink)

This article will argue that there is a coherent and attractive middle way between common law constitutionalism and the procedural conception of democracy, the two dominant positions on the legitimacy of strong constitutional judicial review. I will explore an intriguing alternative that decouples the legitimizing principles and institutional claims of the two dominant positions and argues that (i) democratic decision-making cannot be legitimate if it violates substantive principles of morality; and (ii) the strong form of constitutional review is problematic. This (...) article will present four theses. First, I will argue that political liberalism, properly defined, can allow us to avoid both the tyranny of the majority and the rule of Platonic guardians. Secondly, even if we can deflect both dangers, there is still real tension between the liberal principle of legitimacy and the procedural conception of democracy. Thirdly, if we accept the liberal principle of legitimacy, we have to grant a pivotal role to the epistemic credentials of our institutions. Finally, I will contend that courts should not be authorized to invalidate statutes on the ground that they violate fundamental moral principles. (shrink)

An evolutionary theory of socialization suggests that children from father-absent families will mature earlier, and form less-stable pair bonds, compared with those from father-present families. Using a sample of about 1,000 persons the recent study focuses on elements of father-absent children’s behavior that could be better explained by a Darwinian approach than by rival social science theories. As a result of their enhanced interest in male competition, father-absent boys were found to engage in rule-breaking behavior more intensively than father-present boys. (...) Compared with father-present children, adolescents from widowed households (both boys and girls) showed a higher intensity of various kinds of noncompliant behavior, which can be linked to their earlier maturation. School attendance, age at marriage, and marital success proved to be influenced by the children’s early family experiences, governed by adapted evolutionary strategies. Father-absent daughters conceived more children than those whose fathers were present during their childhood. As evolutionary theory predicts, reproductive behavior of individuals from divorced households differed from that of individuals who grew up in widowed households. Finally, the strong correlation found between spontaneous abortion/stillbirths and family arrangement indicates that father absence has certain direct impacts on the neurohormonal processes of child development. (shrink)

What are mental states? When we talk about people’s beliefs or desires, are we talking about what is happening inside their heads? If so, might cognitive science show that we are wrong? Might it turn out that mental states do not exist? Mental fictionalism offers a new approach to these longstanding questions about the mind. Its core idea is that mental states are useful fictions. When we talk about mental states, we are not formulating hypotheses about people’s inner machinery. Instead, (...) we simply talk "as if" people had certain inner states, such as beliefs or desires, in order to make sense of their behaviour. This is the first book dedicated to exploring mental fictionalism. Featuring contributions from established authors as well as up-and-coming scholars in this burgeoning field, the book reveals the exciting potential of a fictionalist approach to the mind, as well as the challenges it faces. In doing so, it offers a fresh perspective on foundational debates in the philosophy of mind, such as the nature of mental states and folk psychology, as well as hot topics in the field, such as embodied cognition and mental representation. Mental Fictionalism: Philosophical Explorations essential reading for advanced undergraduates, postgraduates and professionals alike. (shrink)

Unethical behavior in organizations has garnered more and more attention in the last decades but most of the scholarly work has used a static approach relying on methodological individualism and a mechanistic worldview when studying this topic. The process of moral disengagement and organizational culture have been linked to the prevalence of unethical behavior earlier, but this paper uses a complexity-informed systems perspective to explore the dynamic relationship of these concepts and aims to improve our understanding of the often unnoticeable, (...) step-by-step process through which organizational cultures can become conducive to unethical behavior. Organizations are conceptualized as complex adaptive systems in which transformative and stabilizing processes based on feedback loops take place continuously. It is discussed how these processes can lead to a phase transition driving organizations towards a state where unethical behavior is the general norm. The process is illustrated through real-life examples. (shrink)

The present work investigates the memory accessibility of linguistically focused elements and the representation of the alternatives for these elements in Working Memory and in delayed recognition memory in the case of the Hungarian pre-verbal focus construction. In two probe recognition experiments we presented preVf and corresponding focusless neutral sentences embedded in five-sentence stories. Stories were followed by the presentation of sentence probes in one of three conditions: the probe was identical to the original sentence in the story, the focused (...) word was replaced by a semantically related word and the target word was replaced by a semantically unrelated but contextually suitable word. In Experiment 1, probes were presented immediately after the stories measuring WM performance, while in Experiment 2, blocks of six stories were presented and sentences were probed with a 2-minute delay measuring delayed recognition memory performance. Results revealed an advantage of the focused element in immediate but not in delayed retrieval. We found no effect of sentence type on the recognition of the two different probe types in WM performance. However, results pertaining to the memory accessibility of focus alternatives in delayed retrieval showed an interference effect resulting in a lower memory performance. We conclude that this effect is indirect evidence for the enhanced activation of focus alternatives. The present work is novel in two respects. First, no study has been conducted on the memory representation of focused elements and their alternatives in the case of the structurally marked Hungarian pre-verbal focus construction. Second, to our knowledge, this is the first study that investigates the focus representation accounts for WM and delayed recognition memory using the same stimuli and same measured variables. Since both experiments used exactly the same stimulus set, and they only differed in terms of the timing of recognition probes, the principle of ceteris paribus fully applied with respect to how we addressed our research question regarding the two different memory systems. (shrink)

The theory of consciousness proposed by O'Brien & Opie is open to the Sorites paradox, for it defines a consciousness system internally in terms of computationally relevant units which add up to consciousness only if sufficient in number. The Sorites effect applies on the assumed level of features.

It is essential for social robots to fit in the human society. In order to facilitate this process we propose to use the family dog’s social behaviour shown towards humans as an inspiration. In this study we explored dogs’ low level social monitoring in dog-human interactions and extracted individually consistent and context dependent behaviours in simple everyday social scenarios. We found that proximity seeking and tail wagging were most individually distinctive in dogs, while activity, orientation towards the owner, and exploration (...) were dependent on the context and/or the activity of the owner. The functional analogues of these dog behaviours can be implemented in social robots of different embodiments in order to make them acceptable and more believable for humans. Keywords: dog-owner interaction; social robotics; low-level social monitoring; greeting behaviour; individually distinctive behaviours. (shrink)

This chapter contains sections titled: Notes.