Translation-invariant and positive-homogeneous risk measures and optimal portfolio management

The problem of risk portfolio optimization with translation-invariant and positive-homogeneous risk measures, which includes value-at-risk (VaR) and tail conditional expectation (TCE), leads to the problem of minimizing a combination of a linear functional and a square root of a quadratic functional for the case of elliptical multivariate underlying distributions. In this paper, we provide an explicit closed-form solution of this minimization problem, and the condition under which this solution exists. The results are illustrated using the data of 10 stocks from NASDAQ/Computers. The distance between the VaR and TCE optimal portfolios has been investigated.     

考虑文化与环境因素的生态圈伦理构成研究

共享经济的发展使企业之间可以通过构建生态圈实现价值的共创共享。但是,目前对生态圈的评判仍没有十分规,范与全而的评价体系。对生态图成员从商业伦理的角度进行评价能够使企业规源会作风险,有放选择合作伙伴。基于生态圈及生态圈伦理相关理论,若虑多种文化和环境的因素,构建了包含4个一级指标、12个二级指标、49个三级指标的生态圈伦...     

建立我国高风险家庭儿童监测保护体系研究

儿童监护不力、遭受伤害或侵害等事件在我国有显著增加的趋势。发达国家的儿童保护服务,日益倾向以科学化和标准化的方法来评估儿童所面临的危机;并且渐以此方法为研究的目标,建立对儿童面临风险的监测标准,以及建构某些标准化的风险预估与防治模式。基于完善家庭政策、保护儿童权益和社会文明发展需要,我国应建立高风险家庭儿童监测保护体系。现有的法律法规政策、社会共识和社区发展为我国建立高风险家庭儿童监测保护体系提供了支持平台。我国高风险家庭儿童监测保护体系建设应坚持重在预防、贵在标准和成在精细的建设方针。     

风险导向审计的中国运用：反思与启示

当前我国已经全面实施风险导向审计模式。但是风险导向审计并非完美,其运用存在一些问题和障碍。从风险导向审计方法的特征和本质出发,可以发现风险导向审计方法自身存在若干缺陷和不足;立足中国审计市场环境,风险导向审计尚且存在一些运用障碍。因此,有必要全面认识风险导向审计,并切实改善实施环境,方可规避风险导向审计的运用风险。     

Effects of Personal Values on Auditor’s Ethical Decisions: A Comparison of Pakistani and Turkish Professional Auditors

The aim of this study is to investigate the effects of personal values on auditor’s ethical decision-making in two countries, namely, Pakistan and Turkey. This study is the first that empirically addresses the role of values in the ethical decision-making processes of Pakistani and Turkish Professional auditors. This study surveys a random sample of these countries' professional certified auditors to assess their value preferences and reactions to an ethical dilemma. This study measures practicing auditors' value preferences by using the Rokeach value survey (RVS), and a case study is used to measure the reactions to an ethical dilemma involving client pressure for aggressive financial reporting. This study did not find statistically significant difference between the mean values of moral intensity in these two countries. On the other hand, we found statistically significant differences between the terminal and instrumental values of the auditors in the countries studied. This study suggests that perceptions of moral intensity influenced both ethical judgments and behavioral intensions.     

浅谈新时期加强医德建设的思路

医德建设在医院管理工作中具有举足轻重的作用。本文针对医务人员的思想动态和观念转变过程中出现的消极表现,提出了医德建设的思路。     

The Effect of Implicit Moral Attitudes on Managerial Decision-Making: An Implicit Social Cognition Approach

This article concerns itself with the relationship between implicit moral cognitions and decisions in the realm of business ethics. Traditionally, business ethics research emphasized the effects of overt or␣explicit attitudes on ethical decision-making and neglected intuitive or implicit attitudes. Therefore, based on an implicit social cognition approach it is important to␣know whether implicit moral attitudes may have a substantial impact on managerial ethical decision-making processes. To test this thesis, a study with 50 participants was conducted. In this study the participants were asked to work on a deliberative managerial ethical decision-making task, in which they had to decide on one of two options. Implicit moral attitudes towards the two options were measured using the implicit association test (IAT). A semantic differential scale was used to diagnose explicit moral attitudes towards the two options. Each step taken within the deliberative decision-making process, as well the decision itself, was assessed using a scoring model-based decision analysis and a decision-making questionnaire. The results of this study show that implicit moral attitude has a great influence on the deliberative ethical decision-making process. The derived conclusion is that complex and deliberative decision-making processes in the context of business ethics can be affected by implicit social cognitions such as implicit moral attitudes.     

Assessing the Impact of Public–Private Partnerships in the Global South: The Case of the Kasur Tanneries Pollution Control Project

This paper explores the nature of the relationship between corporate social responsibility (CSR) and competitiveness. We start with the commonly held view that firm competitiveness is defined by the market. That is, the question of what are the critical competitiveness factors is answered by looking at how companies and financial analysts describe and evaluate a firm. To analyze this, we review the current state of the art on the relationship between CSR and competitiveness. Second, CSR criteria used by financial analysts is identified and compared with company valuation methods. Third, the results of a multi-stakeholder dialogue on CSR and competitiveness of the European financial sector are presented. As a conclusion, we argue that CSR and competitiveness relate through a learning and innovation cycle, where corporate values, policies and practices are permanently defined and re-defined. Thus, we propose that learning takes place as CSR is embedded in business processes, and that once it has been integrated, in turn, it generates innovative practices, and finally, competitiveness. At the end of the paper, we propose that CSR in practice consists of managing inherent paradoxes generated by the tension between CSR and business policies.     

Ethics,Power and Communities: Corporate Social Responsibility Revisited

Ally-building can be an ethical pursuit in developing sources of power for the business manager. The commitment to social responsibility is a source of power, as well as an ethical practice for corporate endeavors. Pfeffer promotes a business manager’s ability to develop effectiveness with ties to powerful others in an intra-organizational environment. This paper advances an analysis about how individuals in corporations may use an inter-organizational approach to developing sources of power through a notion of corporate social responsibility. As such, a more meaningful qualitative reciprocity between corporations and the communities in which they operate can be developed. And, this relationship develops a source of power for the individual involved in this effort. In other words, relationships with powerful others in the community could develop by revisiting CSR based on reciprocity and exchange of sustainability in a community, rather than on a notion of paternal responsibility to some particular construct in society. Denise Kleinrichert has published papers on the areas of business ethics, corporate social responsibility, and applied ethics, as well as a book and a forthcoming chapter in socio-economic history. She has a Master in Liberal Arts degree in Humanities with an emphasis in Social and Political Thought from the University of South Florida, as well as her Bachelors degree in Economics with minors in Political Science and Sociology from Indiana University. She also has extensive corporate experience in human resources and risk management. Currently, she teaches Ethics and Business and Honors Applied Ethics at University of South Florida and is finishing her Ph.D. in Philosophy at this University.     

Being Good Citizens: Understanding a Mediating Mechanism of Organizational Commitment and Social Network Ties in OCBs

Given that citizenship challenges the basis and workings of the basic institutions market, state, and civil society, organizational citizenship behaviors (OCBs) become an important moral tenet found in some codes of ethical principles. This study explores service-oriented OCBs and their determinants. Three dimensions of service-oriented OCBs (loyalty, service delivery, and participation) are hypothetically influenced by distributive justice, procedural justice, personal cooperativeness, and the need for social approval through the mediation of organizational commitment. The three dimensions of OCBs are hypothetically influenced by personal cooperativeness, need for social approval, task interdependence, and outcome interdependence through the mediation of social network ties. The model is tested using data from contact employees at several financial holding companies in Taiwan. Test results reveal that the relationships between need for social approval and organizational commitment and those between task interdependence and social network ties are insignificant, whereas all other paths are significant. This study also provides managerial implications and limitations.