scholarly journals On the origins, meaning and influence of Jensen and Meckling’s definition of the firm

2020 ◽  
Vol 72 (4) ◽  
pp. 966-984 ◽  
Author(s):  
David Gindis
Keyword(s):  
Corporate Responsibility ◽  
Public Debate ◽  
Political Context ◽  
Corporate Law ◽  
The Public ◽  
Legal Fiction ◽  
Definition Of

Abstract Jensen and Meckling’s 1976 definition of the firm as a legal fiction which serves as a nexus for contracts between individuals sits well with the Coasean narrative on the firm while at the same time being at odds with it. Available interviews with Jensen shed little light on the origins and meaning of this unusual definition. The article shows how the definition captured, and was a response to, the American socio-political context of the early and mid-1970s, and traces how Jensen and Meckling employed it once they themselves became immersed in the public debate about corporate responsibility and regulation in the late 1970s and early 1980s. It also considers Jensen and Meckling’s place in the literature on the economics of corporate law developed mostly in the 1980s.

Dissatisfied Enlightenment: Certain Difficulties Concerning The Public Use Of One's Reason

1997 ◽  
Vol 18 (01) ◽  
pp. 39-53
Author(s):  
Katerina Deligiorgi
Keyword(s):  
Public Debate ◽  
The Public ◽  
Definition Of

“Have the courage to use your own understanding!”. Thus Kant explicates the motto of enlightenment, sapere aude, inviting perhaps the readers of the Berlinische Monatschrift to follow suit. “[B]e for yourselves what you all are in yourselves – reasonable”. Thus Hegel introduces the pure insight of enlightened Spirit which addresses its emancipatory call to every consciousness. The apprised readers of the Phenomenology would know to temper their enthusiasm. Those who manage to get that far without doubting the clarity and simplicity of the Wahlspruch of enlightenment, are likely to be dissappointed by Hegel's subsequent analysis, which is largely intended to test such convictions. At the very least, the determined Aufklärer will have to consider whether the normative confidence of ‘dare to know’ is premised on unqualified theoretical certainty, and whether this instruction does not have an altogether more sombre half in the uncertainties of enlightened practice, let alone the terrifying certainty of the guillotine. In the following, I will argue that Kant modifies his initial definition of enlightenment by emphasising the collective and discursive dimensions of the enlightening process, the “freedom to make public use of one's reason in all matters”. I will then argue that Hegel adopts a similar approach in the Phenomenology but evaluates differently the problems involved in establishing a public for reason and in assessing the rationality of this public and proposes a different model of public debate.

The perspective of citizens and the media concerning the responsibility of corporations

2019 ◽  
Vol 16 (8) ◽  
pp. 1325-1340
Author(s):  
Ulrike Röttger ◽  
Anna Dudenhausen ◽  
Dominik Czeppel ◽  
Doreen Adolph-Selke
Keyword(s):  
Content Analysis ◽  
Corporate Responsibility ◽  
Design Methodology ◽  
Public Debate ◽  
Online Surveys ◽  
Content Type ◽  
The Public ◽  
Starting Point ◽  
The Media ◽  
Corporate Actions

Purpose In the public debate, companies are confronted with conflicting expectations regarding their responsibility. An inconsistent understanding of the responsibility of corporations may affect the acceptance of corporate actions. The purpose of this study is to take this observation as a starting point and to analyze corporate responsibility assessments of different actors. Design/methodology/approach In the course of two online surveys conducted by a polling institute at the end of January 2017, 1,003 German citizens were asked about their expectations concerning the responsibility of corporations. One survey was mainly focused on clothing manufacturers, the other one on banks. Moreover, a content analysis of nationwide German quality newspapers aims at showing the media perspective. By using an extensive combination of keywords, 1069 articles were analyzed for the period from 1 January to 31 December 2016. The coding revealed 345 relevant articles containing 717 responsibility-related judgments. Findings Overall, the systematic comparison of both perspectives show differences between societal perspectives and therefore presents an explanation for conflicting expectations concerning the responsibility of corporations. Research limitations/implications The measurement of judgments on responsibility is a complex endeavor. Findings may be limited due to an extensive coding process and a restricted comparability of the two surveys and the content analysis. Moreover, findings are focused on clothing manufacturers and banks only. Originality/value A focus on responsibility assessments delivers a deeper understanding of different perspectives concerning the responsibility of corporations in the public debate.

scholarly journals The birth of the memory of Communism: memorial museums in Europe

2017 ◽  
Vol 45 (6) ◽  
pp. 1028-1046 ◽  
Author(s):  
Máté Zombory
Keyword(s):  
Political Context ◽  
Eastern European ◽  
Post Cold War ◽  
The Public ◽  
Memorial Museums ◽  
Holocaust Memory ◽  
Political Debates ◽  
European Experience ◽  
The Holocaust ◽  
Definition Of

This article argues that the memory of Communism emerged in Europe not due to the public recognition of pre-given historical experiences of peoples previously under Communist regimes, but to the particularities of the post-Cold War transnational political context. As a reaction to the uniqueness claim of the Holocaust in the power field structured by the European enlargement process, Communism memory was reclaimed according to the European normative and value system prescribed by the memory of the Holocaust. Since in the political context of European enlargement refusing to cultivate the memory of the Holocaust was highly illegitimate, the memory of Communism was born as the “twin brother” of Holocaust memory. The Europeanized memory of Communism produced a legitimatedifferentia specificaof the newcomers in relation to old member states. It has been publicly reclaimed as an Eastern European experience in relation to universal Holocaust memory perceived as Western. By the analysis of memorial museums of Communism, the article provides a transnational, historical, and sociological account on Communism memory. It argues that the main elements of the discursive repertoire applied in post-accession political debates about the definition of Europe were elaborated before 2004 in a pan-European way.

The Reporting Entity in Private-Public Accounting Harmonisation. Is Control Enough for the Local Government Consolidated Financial Statements?

2017 ◽  
pp. 5-29 ◽  
Author(s):  
Cristian Carini ◽  
Laura Rocca ◽  
Claudio Teodori ◽  
Monica Veneziani
Keyword(s):  
Public Sector ◽  
Local Government ◽  
Accounting Standards ◽  
Financial Statements ◽  
Consolidated Financial Statements ◽  
The Public ◽  
Financial Accountability ◽  
Public Sector Accounting ◽  
Definition Of ◽  
Reporting Entity

The European Commission initiated a discussion on the expediency of using the International Public Sector Accounting Standards (IPSAS), based on the IAS/IFRS, as a common base for harmonizing the public sector accounting systems of the member states. However, literature suggests that accounting is not neutral with respect to the economic, social and political dimensions. In the perspective of evolution of the accounting regulation outlined, balanced between accountability, with the need to represent phenomena for reporting pur-poses, and decisionmaking issues, which concentrates on the quantitative importance of the values, the paper aims to analyse the effects of the application of different criteria for the definition of the reporting entity of the local government consolidated financial statements (CFS). The Italian PCA 4/4, the test of control and the financial accountability approaches are examined. The evidence that emerged from the case studies examined identifies several criticalities in the Italian PCA 4/4 and support the thesis that the financial accountability approach is more effective in providing a complete representation of the public resources entrusted to and managed by the group, whereas the control approach better approximates quantification of the group results in terms of central government surveillance. The analysis highlights the importance of the post implementation review period and the opportunity to contextualize the adoption of the consolidated financial statement in the broader spectrum of the accounting harmonization process, participating in the process of definition of the European Public Sector Accounting Standards (EPSAS).

The Noise Abatement Campaign in Industrializing Japan, 1923–37

Resonance ◽  
2020 ◽  
Vol 1 (3) ◽  
pp. 298-327
Author(s):  
Shuhei Hosokawa
Keyword(s):  
Public Opinion ◽  
Legal Regulation ◽  
Public Realm ◽  
Political Responsibility ◽  
Noise Abatement ◽  
Public And Private ◽  
The Public ◽  
Causal Responsibility ◽  
Kanto Earthquake ◽  
Definition Of

Drawing on Karin Bijsterveld’s triple definition of noise as ownership, political responsibility, and causal responsibility, this article traces how modern Japan problematized noise, and how noise represented both the aspirational discourse of Western civilization and the experiential nuisance accompanying rapid changes in living conditions in 1920s Japan. Primarily based on newspaper archives, the analysis will approach the problematic of noise as it was manifested in different ways in the public and private realms. In the public realm, the mid-1920s marked a turning point due to the reconstruction work after the Great Kantô Earthquake (1923) and the spread of the use of radios, phonographs, and loudspeakers. Within a few years, public opinion against noise had been formed by a coalition of journalists, police, the judiciary, engineers, academics, and municipal officials. This section will also address the legal regulation of noise and its failure; because public opinion was “owned” by middle-class (sub)urbanites, factory noises in downtown areas were hardly included in noise abatement discourse. Around 1930, the sounds of radios became a social problem, but the police and the courts hesitated to intervene in a “private” conflict, partly because they valued radio as a tool for encouraging nationalist mobilization and transmitting announcements from above. In sum, this article investigates the diverse contexts in which noise was perceived and interpreted as such, as noise became an integral part of modern life in early 20th-century Japan.

Feminist Interpretations of Action and the Public in Hannah Arendt’s Theory

2020 ◽  
Vol 65 (Special Issue) ◽  
pp. 87-103
Author(s):  
Noémi Bíró
Keyword(s):  
Human Activity ◽  
Political Thought ◽  
Hannah Arendt ◽  
Political Action ◽  
Theoretical Framework ◽  
Public Realm ◽  
The Public ◽  
The Social ◽  
Social Feminism ◽  
Definition Of

"Feminist Interpretations of Action and the Public in Hannah Arendt’s Theory. Arendt’s typology of human activity and her arguments on the precondition of politics allow for a variety in interpretations for contemporary political thought. The feminist reception of Arendt’s work ranges from critical to conciliatory readings that attempt to find the points in which Arendt’s theory might inspire a feminist political project. In this paper I explore the ways in which feminist thought has responded to Arendt’s definition of action, freedom and politics, and whether her theoretical framework can be useful in a feminist rethinking of politics, power and the public realm. Keywords: Hannah Arendt, political action, the Public, the Social, feminism "

Can Multinational Corporations be responsible for human rights violation of its outsourcee company? Response of national or international law?

2020 ◽  
Vol 20 (1) ◽  
pp. 153-179
Author(s):  
Alessandro Suppa ◽  
Pavel Bureš
Keyword(s):  
Human Rights ◽  
International Law ◽  
Multinational Corporations ◽  
Corporate Law ◽  
International Economy ◽  
Due Diligence ◽  
Business And Human Rights ◽  
Original Question ◽  
Definition Of ◽  
Human Rights Violation

SummaryNowadays, an important role in the world is played by Multinational Corporations (MNCs). They hire, produce, and influence the international economy, but also, they exploit, pollute. Their business activities might have a worldwide effect on human lives. The question of the responsibility of MNCs has drawn the attention of many scholars, mainly from the study field labelled “Business and Human Rights”. The present paper does not examine the topic under the same approach. The authors aim at presenting the issue in a broader perspective, exploring the concept of due diligence both in international and corporate law. In this paper, authors strategically use the uniformity of national legislations as a possible and alternative solution to the issue. They are aware of three fundamental factors: 1) the definition of MNCs needs to be as clear as possible, so to avoid any degree of uncertainty; 2) the outsourcing phenomenon interacts with that definition; 3) in case of no possibility to include outsourcing in the definition of MNC, the original question arises in a significant way.

Prawne regulacje pobierania i transplantacji narządów oraz tkanek w ujęciu europejskiej konwencji bioetycznej

2016 ◽  
pp. 52-65
Author(s):  
Patryk Kołodyński ◽  
Paulina Drab
Keyword(s):  
Ex Vivo ◽  
Legal Aspects ◽  
European Convention ◽  
The Public ◽  
Additional Protocol ◽  
The Past ◽  
Reliable Source ◽  
International Legal Order ◽  
Definition Of ◽  
Source Of Information

Over the past several years, transplantology has become one of the fastest developing areas of medicine. The reason is, first and foremost, a significant improvement of the results of successful transplants. However, much controversy arouse among the public, on both medical and ethical grounds. The article presents the most important concepts and regulations relating to the collection and transplantation of organs and tissues in the context of the European Convention on Bioethics. It analyses the convention and its additional protocol. The article provides the definition of transplantation and distinguishes its types, taking into account the medical criteria for organ transplants. Moreover, authors explained the issue of organ donation ex vivo and ex mortuo. The European Convention on Human Rights and Biomedicine clearly regulates the legal aspects concerning the transplantation and related basic concepts, and therefore provides a reliable source of information about organ transplantation and tissue. This act is a part of the international legal order, which includes the established codification of bioethical standards.

DIRECTIONS FOR PROVISION OF PUBLIC BODIES’ TRANSPARENCY AND ACCOUNTABILITY IN CONDITIONS OF PARTICIPATORY DEMOCRACY DEVELOPMENT

2018 ◽  
Vol 1 (11) ◽  
pp. 144-154
Author(s):  
Olga Mykhailоvna Ivanitskaya
Keyword(s):  
Public Administration ◽  
Participatory Democracy ◽  
Main Task ◽  
The Public ◽  
State Governance ◽  
Legislative Initiative ◽  
The Government ◽  
Definition Of ◽  
The Right ◽  
Transparency And Accountability

The article is devoted to issues of ensuring transparency and ac- countability of authorities in the conditions of participatory democracy (democ- racy of participation). It is argued that the public should be guaranteed not only the right for access to information but also the prerequisites for expanding its par- ticipation in state governance. These prerequisites include: the adoption of clearly measurable macroeconomic and social goals and the provision of control of the processes of their compliance with the government by citizens of the country; ex- tension of the circle of subjects of legislative initiative due to realization of such rights by citizens and their groups; legislative definition of the forms of citizens’ participation in making publicly significant decisions, design of relevant orders and procedures, in particular participation in local referendum; outlining methods and procedures for taking into account social thought when making socially im- portant decisions. The need to disclose information about resources that are used by authorities to realize the goals is proved as well as key performance indicators that can be monitored by every citizen; the efforts made by governments of coun- tries to achieve these goals. It was noted that transparency in the conditions of representative democracy in its worst forms in a society where ignorance of the thought of society and its individual members is ignored does not in fact fulfill its main task — to establish an effective dialogue between the authorities and so- ciety. There is a distortion of the essence of transparency: instead of being heard, society is being asked to be informed — and passively accept the facts presented as due. In fact, transparency and accountability in this case are not instruments for the achievement of democracy in public administration, but by the form of a tacit agreement between the subjects of power and people, where the latter passes the participation of an “informed observer”.

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