In this paper, we examine the information content of insider transactions in China and analyze how ownership structures shape market reaction to these transactions. We find that the cumulative abnormal return to insider purchases is a convex function of the percentage of shares owned by the largest shareholder. Further, the CAR to insider purchases is lower when the largest shareholder is government-related, or when the control rights of the largest shareholder exceed its cash flow rights. We also find that the (...) market reaction to insider purchases is more positive for firms audited by Big4 auditors. However, we do not find a significant relationship between an ownership structure and the market reaction to insider sales. Our results are remarkably robust to alternative model specifications, corporate insider identities, and recent corporate news releases on price-sensitive events. Finally, we show that market reaction to insider purchases is larger for firms with less severe expropriations, as captured by the use of other receivables. (shrink)

We investigate two under-explored factors in mitigating the risk of corporate fraud and regulatory enforcement against fraud, namely institutional investors and political connections. The role of institutional investors in the effective monitoring of a firm’s management is well established in the literature. We further observe that firms that have a large proportion of their shares held by institutional investors have a lower incidence of enforcement actions against corporate fraud. The importance of political connections for enterprises, whether in a developed market (...) such as the United States or an emerging market such as China, has been established by previous studies. However, we find evidence of another positive effect of political connections: they may reduce the incidence of enforcement action against corporate fraud. We also find that political connections play a more significant role in reducing regulatory enforcement incidents against non-state-owned enterprises and firms in weaker legal environments, whereas institutional ownership plays a more important role in reducing regulatory enforcement incidents against state-owned enterprises. (shrink)

There are strong indications that many consumers are switching towards more socially and environmentally responsible products and services, reflecting a shift in consumer values indicated in several countries. However, little is known about the motives that drive some toward, or deter others from, higher levels of ethical concern and action in their purchasing decisions. Following a qualitative investigation using ZMET and focus group discussions, a questionnaire was developed and administered to a representative sample of consumers; nearly 1,000 usable questionnaires were (...) collected. The degree of awareness, concern and action regarding 16 ethical issues was quantified, using a measure developed from the Stages of Change concept within the Transtheoretical model. Motivations for ethical behaviour, in relation to each individual’s most salient ethical issue, were investigated using initially 22 motive statements within the framework of the Decisional Balance Scale (DBS). The findings suggest that the DBS and Stages model have an explanatory value within the ethical decision-making context, and that the motives identified do reflect the Decisional Balance Constructs. Indeed the study suggests that respondents’ motivational attitudes are a function of their stage of ethical awareness, concern and action. Therefore, the Decisional Balance Scale may well prove useful for designing appropriate interventions and communications to facilitate movement towards more ethical decision-making. These findings yield strategic insight for communicating messages to ethical consumers and for better understanding their purchasing decisions. (shrink)

Empirical philosophers of science aim to base their philosophical theories on observations of scientific practice. But since there is far too much science to observe it all, how can we form and test hypotheses about science that are sufficiently rigorous and broad in scope, while avoiding the pitfalls of bias and subjectivity in our methods? Part of the answer, we claim, lies in the computational tools of the digital humanities, which allow us to analyze large volumes of scientific literature. Here (...) we advocate for the use of these methods by addressing a number of large-scale, justificatory concerns—specifically, about the epistemic value of journal articles as evidence for what happens elsewhere in science, and about the ability of DH tools to extract this evidence. Far from ignoring the gap between scientific literature and the rest of scientific practice, effective use of DH tools requires critical reflection about these relationships. (shrink)

Binding specificity is a centrally important concept in molecular biology, yet it has received little philosophical attention. Here I aim to remedy this by analyzing binding specificity as a causal property. I focus on the concept’s role in drug design, where it is highly prized and hence directly studied. From a causal perspective, understanding why binding specificity is a valuable property of drugs contributes to an understanding of causal selection—of how and why scientists distinguish between causes, not just causes from (...) noncauses. In particular, the specificity of drugs is precisely what underwrites their value as experimental interventions on biological processes. (shrink)

Shannon information is commonly assumed to be the wrong way in which to conceive of information in most biological contexts. Since the theory deals only in correlations between systems, the argument goes, it can apply to any and all causal interactions that affect a biological outcome. Since informational language is generally confined to only certain kinds of biological process, such as gene expression and hormone signalling, Shannon information is thought to be unable to account for this restriction. It is often (...) concluded that a richer, teleosemantic sense of information is needed. I argue against this view, and show that a coherent and sufficiently restrictive theory of biological information can be constructed with Shannon information at its core. This can be done by paying due attention some crucial distinctions: between information quantity and its fitness value, and between carrying information and having the function of doing so. From this I construct an account of how informational functions arise, and show that the “subject matter” of these functions can easily be seen as the natural information dealt with by Shannon’s theory. (shrink)

Bio-ontologies are digital frameworks for handling biological and biomedical data. They consist of theoretical entities and relations with explicitly defined logical structures and precise definitions, whose purpose is to provide a shared language for representing information to be distributed and integrated across diverse scientific contexts. It is tempting to view bio-ontologies as clear and formal expressions of a scientific community’s ontological commitments about their domain of inquiry, and to view their integration as tantamount to the metaphysical unification of science that (...) some philosophers have envisaged. However, I argue that the local, practical, social and technological factors that influence their design prevent us from straightforwardly reading metaphysical conclusions from them. I discuss these complications and suggest how they can be overcome, revealing more general lessons for the development of a well-founded scientific metaphysics. (shrink)

Jacques Monod (1971) argued that certain molecular processes rely critically on the property of chemical arbitrariness, which he claimed allows those processes to “transcend the laws of chemistry”. It seems natural, as some philosophers have done, to interpret this in modal terms: a biological relationship is chemically arbitrary if it is possible, within the constraints of chemical “law”, for that relationship to have been otherwise than it is. But while modality is certainly important for understanding chemical arbitrariness, understanding its biological (...) role also requires an account of the concrete causal-functional features that distinguish arbitrary from non-arbitrary phenomena. In this paper I elaborate on this under-emphasised aspect by offering a general account of these features: arbitrary relations are instantiated by mechanisms that involve molecular adapters, which causally couple two properties or processes which would otherwise be uncorrelated. Additionally, adapters work by acting as intermediate rather than cooperating causes. (shrink)

Astronomical observations of redshifts and the cosmic background radiation show that there is a local frame of reference relative to which the solar system has a well-defined velocity. Also, in cosmology the cosmological principle implies the existence of cosmic time and unique local reference frames at all spacetime points. On the other hand, in a fundamental postulate, the theory of special relativity excludes the possibility of the velocity of the Earth from entering into theories of local physics.The theory put forward (...) in this paper resolves this conflict between local physics and cosmology. The theory retains the essential ingredient of the mathematical structure of special relativity, namely covariance under the Lorentz symmetry group, but changes radically the interpretation of the physical significance of the Lorentz transformation. The theory is based on the postulate that in free space the fundamental interactions in physics are propagated with constant velocity with respect to the local rest frame. In Minkowski spacetime the local rest frame of reference defines a unique time axis and consequently a unique three-dimensional spatial hyperplane. One particularly important result of this is that the theory includes the classical notion of simultaneity. From the fundamental postulate it follows that the equations of local physics, when expressed in terms of the rest frame coordinate system, must be covariant under the Lorentz symmetry group. By the identification of the local rest frame with the (unique) cosmological local reference frame the two theories become mutually consistent.The effects of the motion of the Earth on laboratory experiments are discussed. It is pointed out that existing experimental data do not discriminate between the present theory and that of special relativity: a proposal for an experimental test is made. (shrink)

The initial motivating question for this thesis is what the standard of rigour in modern mathematics amounts to: what makes a proof rigorous, or fail to be rigorous? How is this judged? A new account of rigour is put forward, aiming to go some way to answering these questions. Some benefits of the norm of rigour on this account are discussed. The account is contrasted with other remarks that have been made about mathematical proof and its workings, and is tested (...) and illustrated by considering a case study discussed in the literature. On the view put forward here one can obtain a manner of informal, rigorous mathematics founded on any of a variety of proof systems. The latter part of the thesis is concerned with the question of how we should decide which of these competing proof systems we should base our mathematics on: i.e., the question of which proof system we should take as a foundation for our mathematics. A novel answer to this question is proposed, in which the key property we should require of a proof system is that for as many different kinds of structures as possible, when the proof system allows a generalization about that kind of structure to be proved, the generalization actually holds of all real examples of that kind of structure which exist. This is the requirement of soundness of the proof system. It is argued that the best way to establish the soundness of a proof system may be by giving an interpretation of its axioms on which they are established as true. As preparation for this discussion, the thesis first investigates the logical and conceptual basis of various arithmetic concepts, with the results obtained used in the final discussion of soundness. (shrink)

Exploring what a scientific metaphysics grounded in biological practices could look like and how it might impact the way we investigate the world around us, the contributors to From Biological Practice to Scientific Metaphysics review and discuss long-held objections to metaphysics by natural scientists. They illuminate how, in order to learn about the world as it truly is, we must look not only at what scientists say but also what they do.

We analyze whether audit partners suffered damage to their professional reputations with the demise of Zhongtianqin, formerly the largest audit firm in China, after an audit failure enabled a major client, Yinguangxia, to fraudulently exaggerate its earnings in a high-profile scandal resembling the Andersen–Enron events in the US. This involves evaluating whether the reputational damage sustained by partners implicated in the scandal spreads to other partners in the same audit firm. We isolate whether impaired reputation impedes partners who were not (...) complicit in the ZTQ–YGX events from attracting new clients or keeping existing ones. Our evidence implies that the market shares of these partners fell after ZTQ’s collapse, supporting that guiltless partners’ reputations were tarnished. We also find that these partners are less likely to be employed by reputable audit firms. The clients of these partners tend to have lower earnings response coefficients, implying that investors downgrade the perceived quality of their audits. Moreover, compared to a matched sample, the former ZTQ partners tend to charge lower audit fees after the firm’s collapse. Finally, we exploit the unique structure of ZTQ to provide evidence consistent with the prediction that the former partners from the branch that handled the YGX audits experienced worse damage to their reputations. In a setting with minimal auditor discipline stemming from civil litigation, our results lend support to the intuition that partners’ reputation concerns motivate them to protect audit quality by closely monitoring other partners in the firm. (shrink)

Evolutionary psychologists should go beyond research on individual differences in attitudes and focus more on detailed models of psychological mechanisms. We argue for complementing attitude research with agent-based computational modeling of mate choice. Agent-based models require detailed specification of individual choice mechanisms that can be evaluated in terms of both their psychological plausibility and the population-level outcomes they produce.

ABSTRACT The use of broad consent for genomics research raises important ethical questions for the conduct of genomics research, including relating to its acceptability to research participants and comprehension of difficult scientific concepts. To explore these and other challenges, we conducted a study using qualitative methods with participants enrolled in an H3Africa Rheumatic Heart Disease genomics study (the RHDGen network) in Zambia to explore their views on broad consent, sample and data sharing and secondary use. In-depth interviews were conducted with (...) RHDGen participants (n = 18), study staff (n = 5) and with individuals who refused to participate (n = 3). In general, broad consent was seen to be reasonable if reasons for storing the samples for future research use were disclosed. Some felt that broad consent should be restricted by specifying planned future studies and that secondary research should ideally relate to original disease for which samples were collected. A few participants felt that broad consent would delay the return of research results to participants. This study echoes findings in other similar studies in other parts of the continent that suggested that broad consent could be an acceptable consent model in Africa if careful thought is given to restrictions on re-use. (shrink)

The use of broad consent for genomics research raises important ethical questions for the conduct of genomics research, including relating to its acceptability to research participants and comprehension of difficult scientific concepts. To explore these and other challenges, we conducted a study using qualitative methods with participants enrolled in an H3Africa Rheumatic Heart Disease genomics study in Zambia to explore their views on broad consent, sample and data sharing and secondary use. In-depth interviews were conducted with RHDGen participants, study staff (...) and with individuals who refused to participate. In general, broad consent was seen to be reasonable if reasons for storing the samples for future research use were disclosed. Some felt that broad consent should be restricted by specifying planned future studies and that secondary research should ideally relate to original disease for which samples were collected. A few participants felt that broad consent would delay the return of research results to participants. This study echoes findings in other similar studies in other parts of the continent that suggested that broad consent could be an acceptable consent model in Africa if careful thought is given to restrictions on re-use. (shrink)

Why and under what conditions are individuals altruistic to family and friends in their social networks? Evolutionary psychology suggests that such behaviour is primarily the product of adaptations for kin- and reciprocal altruism, dependent on the degree of genetic relatedness and exchange of benefits, respectively. For this reason, individuals are expected to be more altruistic to family members than to friends: whereas family members can be the recipients of kin and reciprocal altruism, friends can be the recipients of reciprocal altruism (...) only. However, there is a question about how the effect of kinship is implemented at the proximate psychological level. One possibility is that kinship contributes to some general measure of relationship quality (such as ‘emotional closeness’), which in turn explains altruism. Another possibility is that the effect of kinship is independent of relationship quality. The present study tests between these two possibilities. Participants (N= 111) completed a self-report questionnaire about their willingness to be altruistic, and their emotional closeness, to 12 family members and friends at different positions in their extended social networks. As expected, altruism was greater for family than friends, and greater for more central layers of the network. Crucially, the results showed that kinship made a significant unique contribution to altruism, even when controlling for the effects of emotional closeness. Thus, participants were more altruistic towards kin than would be expected if altruism was dependent on emotional closeness alone – a phenomenon we label a ‘kinship premium’. These results have implications for the ongoing debate about the extent to which kin relations and friendships are distinct kinds of social relationships, and how to measure the ‘strength of ties’ in social networks. (shrink)

Cooperation requires that individuals are able to identify, and preferentially associate with, others who have compatible preferences and the shared background knowledge needed to solve interpersonal coordination problems. The present study investigates the nature of such similarity within social networks, asking: What do friends have in common? And what is the relationship between similarity and altruism? The results show that similarity declines with frequency of contact; similarity in general is a significant predictor of altruism and emotional closeness; and, specifically, sharing (...) a sense of humor, hobbies and interests, moral beliefs, and being from the same area are the best predictors. These results shed light on the structure of relationships within networks and provide a possible checklist for predicting attitudes toward strangers, and in-group identification. (shrink)

This important new book explores the contemporary refugee crisis and the untold realities and experiences of refugees themselves. A team of top scholars offer a critical and necessary diagnosis of the challenges, complexities, and contradictions impacting our philosophical approaches to the contemporary figure of the refugee.

Analyzing Prayer draws together a range of theologians and philosophers to deal with different approaches to prayer as a Christian practice. The essays included deal with issues pertaining to petitionary prayer, prayer as reorientation of oneself in the presence of God, prayer by those who do not believe, liturgical prayer, mystical prayer, whether God prays, the interrelation between prayer and various forms of knowledge, theologizing as a form of prayer, lament and prayer, prayer and God's presence, and even prayer and (...) the meaning of life. The volume contains cutting-edge studies on a neglected topic of theological study that contributes to the broadening of themes tackled by analytic theology. (shrink)

This volume offers an array of newly commissioned essays, addressing the topic of love in the Christian tradition. Drawn from a range of expert theologians and philosophers in contemporary analytic and non-analytic theology, these essays join current debates within the theology of love, and aim to propose new avenues for future research. Including the last essay written by Marilyn McCord Adams, Love, Divine and Human deals with a rich variety of issues related to divine and human love. The broad scope (...) of the book includes divine transcendence and its methodological bearing on the doctrine of divine love, the nature and scope of divine love, the interrelation between God's love and wrath, the plausibility of an impassable God of love, and the application of various conceptions of divine love to the problem of divine hiddenness, human ethics, and human free will, among other topics. This unified collection of cutting-edge papers will advance discussion for all those focused on the theology of love. (shrink)

ObjectiveTo apply a socioecological approach to identify risk and protective factors across levels of the “sports-ecosystem,” which are associated with mental health outcomes among athletes in para-sports and non-para sports. A further aim is to determine whether para athletes have unique risks and protective factor profiles compared to non-para athletes.MethodsA cross-sectional, anonymous online-survey was provided to all categorized athletes aged 16 years and older, registered with the Australian Institute of Sport. Mental health outcomes included mental health symptoms, general psychological distress, (...) risky alcohol consumption and eating disorder risk. Risk and protective factors across multiple levels of the socioecological model, including individual, microsystem, exosystem and macrosystem level factors were assessed via self-report.ResultsA total of 427 elite athletes participated in the study. No significant differences in the rates of mental health problems were observed between para and non-para athletes. Both differences and similarities in risk and protective factor profiles were found across the multiple levels of the sports-ecosystem. Weak evidence was also found to support the hypothesis that certain risk factors, including experiencing two or more adverse life events in the past year, sports related concussion, high self-stigma, inadequate social support and low psychological safety conferred a greater risk for poorer mental health outcomes for para athletes in particular.ConclusionRisk factors occurring across various levels of the sports ecosystem, including individual, interpersonal and organizational level risk factors were found to be associated with a range of poorer mental health outcomes. The association between mental ill-health and certain risk factors, particularly those at the individual and microsystem level, appear to be greater for para athletes. These findings have important implications for policy and mental health service provision in elite sports settings, highlighting the need for more nuanced approaches to subpopulations, and the delivery of mental health interventions across all levels of the sports ecosystem. (shrink)

Objective: Theory and research suggest that the pursuit of personal goals that do not fit a person's affect-based implicit motives results in impaired emotional well-being, including increased symptoms of depression. The aim of this study was to evaluate an intervention designed to enhance motive-goal congruence and study its impact on well-being. Method: Seventy-four German students (mean age = 22.91, SD = 3.68; 64.9% female) without current psychopathology, randomly allocated to 3 groups: motivational feedback (FB; n = 25; participants learned about (...) the fit between their implicit motives and explicit goals), FB + congruence-enhancement training (CET; n = 22; participants also engaged in exercises to increase the fit between their implicit motives and goals), and a no-intervention control group (n = 27), were administered measures of implicit motives, personal goal commitments, happiness, depressive symptoms, and life satisfaction 3 weeks before (T1) and 6 weeks after (T2) treatment. Results: On two types of congruence measures derived from motive and goal assessments, treated participants showed increases in agentic (power and achievement) congruence, with improvements being most consistent in the FB+CET group. Treated participants also showed a trend-level depressive symptom reduction, but no changes on other well-being measures. Although increases in overall and agentic motivational congruence were associated with increases in affective well-being, treatment-based reduction of depressive symptoms was not mediated by treatment-based agentic congruence changes. Conclusion: These findings document that motivational congruence can be effectively enhanced, that changes in motivational congruence are associated with changes in affective well-being, and they suggest that individuals’ implicit motives should be considered when personal goals are discussed in the therapeutic process. (shrink)

This volume represents the first collection of essays devoted exclusively to Jacques Derrida's Death Penalty Seminars, conducted from 1999-2001. The volume includes essays from a range of scholars working in philosophy, law, Francophone studies, and comparative literature, including established Derridians, activist scholars, and emerging scholars.

The impact of Darwin's work in biology is widely known; we present here a less known aspect which is that of applying Darwin's ideas in physics, and how this may relate with the transition from pre-life to life. Darwin's work on the origin of species was a breakthrough not only because of its explanation of how different species came to exist but also because the extinction of a species is caused not only by the charactenstics of the species, but in (...) large degree by the charactenstics of the environment. In contrast, in Newton's approach to physics, the environment was seen as neutral and inert. The goal of this article is to portray how quantum Darwinism helps to clarify the transition from Physics to pre-life. (shrink)

This book provides a thorough and up-to-date introduction to the philosophy of quantum physics. Although quantum theory is renowned for its spectacular empirical successes, controversial discussion about how it should be understood continue to rage today. In this volume, the authors provide an overview of its numerous philosophical challenges: Do quantum objects violate the principle of causality? Are particles of the same type indistinguishable and therefore not individual entities? Do quantum objects retain their identity over time? How does a compound (...) quantum system relate to its parts? These questions are answered here within different interpretational approaches to quantum theory. Finally, moving to Quantum Field Theory, we find that the problem of non-locality is exacerbated. Philosophy of quantum physics is aimed at philosophers with an interest in physics, while also serving to familiarize physicists with many of the essential philosophical questions of their subject. (shrink)

How may feelings of love and hate impact people’s attention? We used a modified Attentional Blink (AB) task in which 300 participants were asked to categorise a name representing a person towards whom they felt either hate, love, or neutral (first target) plus identify a number word (second target), both embedded in a rapidly presented stream of other words. The lag to the second target was systematically varied. Contrary to our hypothesis, results revealed that both hated and loved names resulted (...) in higher accuracy for the second target than neutral names, which was largely independent of lag. Also, there we observed no sustained transfer effects of love and hate onto neutral name trials. The findings differ from prior research on attentional blink and transient, non-personal, stimulus-driven emotions, suggesting that interpersonal feelings activate different attention-relevant mechanisms. Relevant to future research, we speculate that love and hate are motivators of goal-directed behaviour that facilitate subsequent information processing. (shrink)

Despite the emphasis placed by most curricula in the development of social and emotional competencies in education, there seems to be a general lack of knowledge of methods that integrate strategies for assessing these competencies into existing educational practices. Previous research has shown that the development of social and emotional competencies in children has multiple benefits, as they seem to contribute to better physical and mental health, an increase in academic motivation, and the well-being and healthy social progress of children. (...) This study aims at assessing the possible changes in children’s self-esteem, socio-emotional competencies, and school-related variables after participating in the Learning to Be project (L2B) project.Methods:This quasi-experimental study included an intervention group (L2B) and a control group. The participants were 221 students in primary education (55.2% girls) between the ages of eight and 11 (M= 9.31; SD = 0.89). The L2B intervention program took place over a period of 5 months. The assessment was carried out twice, before and after the intervention through three main evaluation instruments: the Rosenberg’s Self-Esteem questionnaire, the Socio-Emotional competence questionnaire (SEQ), and self-report scales for measuring school difficulties, school engagement, opinions about school, and school absence. Ten schools from different Spanish provinces participated.Results:The results indicate that those participants in the experimental group show higher self-esteem, better responsible decisions, and higher self-awareness than those in the control group. There were no other statistical differences between groups.Conclusions:The results of this work suggest that the implementation of the L2B program did not improve social and emotional competencies in primary school students. Further research related to how include formative assessment in SEL programs is needed. (shrink)

Guilt and shame are self-conscious emotions with implications for mental health, social and occupational functioning, and the effectiveness of sports practice. To date, the assessment and role of athlete-specific guilt and shame has been under-researched. Reporting data from 174 junior elite cricketers, the present study utilized exploratory factor analysis in validating the Athletic Perceptions of Performance Scale, assessing three distinct and statistically reliable factors: athletic shame-proneness, guilt-proneness, and no-concern. Conditional process analysis indicated that APPS shame-proneness mediated the relationship between general (...) and athlete-specific distress. While APPS domains of guilt-proneness and no-concern were not significant mediators, they exhibited correlations in the expected direction with indices of psychological distress and well-being. The APPS may assist coaches and support staff identify players who may benefit from targeted interventions to reduce the likelihood of experiencing shame-prone states. (shrink)