Virtue as a Benchmark for Spirituality in Business

Business people often consider spirituality a means of increasing integrity, motivation and job satisfaction. Yet certain spiritualities are superficial and unstable. Religion gives depth and duration to a spirituality, but may also sew divisiveness. A spirituality's ability to develop good moral habits provides a positive test of the "appropriateness" of that spirituality for business. Many successful business executives demonstrate a spirituality that does develop good moral habits.     

Defining a Post-Conventional Corporate Moral Responsibility

The stakeholder approach offers the opportunity to consider corporate responsibility in a wider sense than that afforded by the stockholder or shareholder approaches. Having said that, this article aims to show that this theory does not offer a normative corporate responsibility concept that can be our response to two basic questions. On the one hand, for what is the company morally responsible and, on the other hand, why is the corporation morally responsible in terms of conventional and post-conventional perspectives? The reason why the stakeholder approach does not offer such a definition, as we shall see, is because the normative stakeholder approaches tend to confuse the social validity with the moral validity or legitimacy. It leads us to a conventional definition of corporate moral responsibility (CMR) that is not relevant to the pluralistic and global framework of our societies and economies. The purpose of this paper is to demonstrate this intuition.     

Business and Marketing Ethics as Professional Ethics. Concepts, Approaches and Typologies

Marketing ethics is normally marketed as a sub-specialization of business ethics. In this paper, marketing ethics serves as an umbrella term for advertising, PR and sales ethics and as an example of professional ethics. To structure the paper, four approaches are distinguished, with a focus on typical professional conflicts, codes, roles or climates respectively. Since the moral climate approachis more inclusive than the other approaches, the last part of the paper deals mainly with moral climates, within the above-mentioned marketing sub-professions.     

Business Dilemmas and Religious Belief: An Explorative Study among Dutch Executives

This paper explores the relationship between religious belief and the dilemmas Dutch executives confront in daily business practice. We find that the frequency with which dilemmas arise is directly related to various aspects of religious belief, such as the belief in a transcendental being and the intensity of religious practice. Despite this relationship, only 17% of the dilemmas examined involve a religious standard. Most dilemmas originate from a conflict between moral and practical standards. We also find that 79% of the identified dilemmas stem from a conflict between two or more internalized standards of the executive.Johan Graafland is a Professor of Economics, Business and Ethics at Tilburg University and Director of the Centre for Corporate Social Responsibility at the Department of Philosophy of Tilburg University. He has published articles in The Journal of Business Ethics, Business Ethics: A European Review, Philosophia Reformatica, Journal of Corporate Citizenship, Applied Economics, Economics Letters, Oxford Bulletin of Economics and Statistics, Empirical Economics, Journal of Policy Modelling, Public Finances/Finances Publique, Economic Modeling, Journal of Public Economics and others. His current research interests are corporate social responsibility and philosophy of economics.Muel Kaptein is a Professor of Business Ethics and Integrity Management at the RSM Erasmus University, where he chairs the Department of Business-Society Management. Muel is also a Director at KPMG Integrity and Investigation Services. He has published articles in a number of journals, including The Journal of Business Ethics, Business & Society Review, Organization Studies, Academy of Management Review and European Management Journal. His most recent books are The Six Principles of Managing with Integrity (Spiro Press) and The Balanced Company (Oxford University Press). His research interests include the management of ethics, the measurement of ethics and the ethics of management. Muel is a Section Editor of the Journal of Business Ethics.Corrie Mazereeuw-van der Duijn Schouten is a senior researcher at the Centre for Corporate Social Responsibility at Tilburg University, the Netherlands. She has several years of experience as business consultant in the field of organizational change and group processes within organizations. Her research interests include leadership, religion and corporate social responsibility. She is currently working on a PhD thesis on religion and leadership.     

中小企业应收账款质押融资模式中的道德风险研究

应收账款质押融资作为供应链金融较常见的融资模式,是解决中小企业融资难的有效途径。该模式的风险因素包括信用风险、道德风险、法律风险和行业风险。其中道德风险主要由银企之间信息不对称引起。博弈论分析表明,道德风险受核心企业的监督意愿、银行和核心企业的监督成本以及对违约企业的惩罚力度的影响。     

Determinants of stock market volatility and risk premia

Summary. We show the dynamics of diverse beliefs is the primary propagation mechanism of volatility in asset markets. Hence, we treat the characteristics of the market beliefs as a primary, primitive, explanation of market volatility. We study an economy with stock and riskless bond markets and formulate a financial equilibrium model with diverse and time varying beliefs. Agents states of belief play a key role in the market, requiring an endogenous expansion of the state space. To forecast prices agents must forecast market states of belief which are beliefs of others hence our equilibrium embodies the Keynes Beauty Contest. A market state of belief is a vector which uniquely identifies the distribution of conditional probabilities of agents. Restricting beliefs to satisfy the rationality principle of Rational Belief (see Kurz, 1994, 1997) our economy replicates well the empirical record of the (i) moments of the price/dividend ratio, risky stock return, riskless interest rate and the equity premium; (ii) Sharpe ratio and the correlation between risky returns and consumption growth; (iii) predictability of stock returns and price/dividend ratio as expressed by: (I) Variance Ratio statistic for long lags, (II) autocorrelation of these variables, and (III) mean reversion of the risky returns and the predictive power of the price/dividend ratio. Also, our model explains the presence of stochastic volatility in asset prices and returns. Two properties of beliefs drive market volatility: (i) rationalizable over confidence implying belief densities with fat tails, and (ii) rationalizable asymmetry in frequencies of bull or bear states.This research was supported by a grant of the Smith Richardson Foundation to the Stanford Institute for Economic Policy Research (SIEPR). We thank Kenneth Judd for constant advice which was crucial at several points in the development of this work. We also thank Kenneth Arrow, Min Fan, Michael Magill, Carsten Nielsen, Manuel Santos, Nicholas Yannelis, Ho-Mou Wu and Woody Brock for comments on earlier drafts. The RBE model developed in this paper and the associated programs used to compute it are available to the public on Mordecai Kurzs web page at http://www.stanford.edu/ mordecai.This revised version was published online in January 2005 with corrections to the Cover date.     

单帧编码结构光模式分类及其典型应用

根据编码模式生成机理的不同,对单帧编码结构先进行了新分类,分析了技术特点及发展趋势.M阵列编码是一种典型的单帧模式,设计了一种基于M阵列的单帧符号编码结构光模式.重建目标实验表明,可以获得物体较为光滑、完整的三维形廓,丰富、拓展了单帧结构光技术.     

自适应约束下的双边全变差正则化超分辨率重建

在经典的双边全变差(BTV)超分辨率重建中,加权系数和正则化参数的恒定性导致重建结果边缘保持能力受限。为此,提出了一种自适应约束的BTV正则化先验模型。算法首先定义了图像的局部邻域残差均值以区分当前像素属于平坦区域还是边缘区域;然后针对加权系数的不变性导致边缘削弱的问题,利用边缘方向和垂直边缘方向扩散性的不同,设计自适应权重矩阵;最后根据代价函数的极值问题推导出迭代公式,从而进行图像的超分辨率重建,重建过程中采用自适应的方法确定正则化参数,以便求得代价函数的全局最优解,提高了算法的鲁棒性。实验结果表明：与双三次线性插值法和经典BTV算法相比,该算法取得了更好的视觉效果和更高的峰值信噪比,更多地保留了图像的边缘细节信息。     

Ethical leadership in Chinese organizations: Developing a scale

In light of a series of ethical scandals in China in recent years, this research aims to develop a reliable and valid scale to measure ethical leadership, namely the “ethical leadership measure (ELM).” Our results show that ELM is strongly and positively correlated with scales for authentic leadership, ethical leadership, idealized influence, and a recently-developed leadership virtues questionnaire (LVQ); and negatively correlated with laissez-faire leadership and passive management by exception. ELM is also found to be positively related to followers’ job satisfaction, affective commitment, trust in leader, organizational citizenship behavior, and moral identity, and negatively related to followers’ intention to quit.     

On seeking first to understand

There are fundamental differences between seeking-to-solve and seeking-to-understand. We are strongly biased toward seeking-to-solve on a number of dimensions. As a result, we are increasingly at risk in a world that is becoming increasingly complex and fast paced. We therefore need to understand these biases so that we can defend ourselves -- we need to develop (moral) concepts and methods of inquiry that transcend our dominant and pervasive analytical presuppositions.