We aggregate different dimensions of corporate social responsibility (CSR) activities following the stakeholder framework proposed in Clarkson (Acad Manag Rev 20(1), 92–117, 1995) and present consistent evidence that CSR strengths targeting different stakeholders have their unique impact on firm risk and financial performance. Institutional CSR activities that target secondary stakeholders are negatively associated with firm risk, measured by total risk and systematic risk. Technical CSR that target primary stakeholders are positively associated with firm financial performance, measured by Tobin’s Q, ROA, (...) and cash flow returns. Our results, based on a sample of S&P 500 component firms over the period of 1995–2009, are consistent with the risk management view of “altruistic” CSR activities and with the stakeholder salience theory. We also show that the impact of CSR activities on risk varies with the ethical climate, as proved in our subsample analyses on pre- and post-Sarbanes–Oxley periods. Our empirical analyses mitigate possible omitted variables and endogeneity concerns that are often overlooked in previous research. Our findings are robust to alternative CSR measures, to alternative risk and performance measures, and to alternative estimation methods. (shrink)

A preference method probed infants` perception of object motion on an inclined plane. Infants viewed videotaped events in which a ball rolled downward (or upward) while speeding up (or slowing down). Then infants were tested with events in which the ball moved in the opposite direction with appropriate or inappropriate acceleration. Infants aged 7 months, but not 5 months, looked longer at the test event with inappropriate acceleration, suggesting emerging sensitivity to gravity. A further study tested whether infants appreciate that (...) a stationary object released on an incline moves downward rather than upward; findings again were positive at 7 months and negative at 5 months. A final study provided evidence, nevertheless, that 5-monthold infants discriminate downward from upward motion and relate downward motion in videotaped events to downward motion in live events. Sensitivity to certain effects of gravity appears to develop in infancy. (shrink)

The purpose of this study was to identify how older Korean people seek information and their desire to participate in decision making about their health care. A total of 165 elderly people living in Seoul, South Korea, participated in the study. Data were collected during individual interviews using the Autonomy Preference Index. The mean information-seeking score was high. The mean score for their desire to participate with a physician in decision making was lower, but this was higher when family members (...) were involved. The study indicates that many older people want to receive information about their health care. Families (or guardians), as well as older people themselves, should be included in the decision-making process. Nurses can encourage older people to express their wishes, while treating each individual with respect. (shrink)

Experiments using a preferential looking method, a perceptual judgment method, and a predictive judgment method investigated the development, from 7 months to 6 years of age, of sensitivity to the effects of gravity and inertia on inanimate object motion. The experiments focused on a situation in which a ball rolled off a flat surface and either continued in linear motion (contrary to gravity), turned abruptly and moved downward (contrary to inertia), or underwent natural, parabolic motion. When children viewed the three (...) fully visible motions, both the preferential looking method and the perceptual judgment method provided evidence that sensitivity to inertia developed between 7 months and 2 years, and that sensitivity to gravity began to develop after 3 years. When children predicted the future location of the object without viewing the motions, the predictive judgment method provided evidence that sensitivity to gravity had developed by 2 years, whereas sensitivity to inertia began to develop only at 5±6 years. These findings suggest that knowledge of object motion develops slowly over childhood, in a piecemeal fashion. Moreover, the same system of knowledge appears to be tapped both in preferential looking tasks and in judgment tasks when children view fully visible events, but a different system may underlie children's inferences about unseen object motions. (shrink)