Yi Yang

With the concept of environmental, social, and governance (ESG) gaining traction worldwide, firms are becoming increasingly transparent about their ESG practices to enhance their legitimacy. This study draws on signaling theory, stakeholder theory, and opportunism theory, and uses panel data from Chinese A-share listed firms from 2009 to 2022. It identifies a U-shaped relationship between ESG performance and stock price crash risk, indicating that the increase in ESG performance decreases stock price crash risk, but after reaching a threshold value, it increases the risk. Green innovation moderates this U-shaped relationship, reinforcing its effects. Meanwhile, earnings management plays a mediating role in this U-shaped relationship. Heterogeneity analyses reveal that the U-shaped relationship is significant in polluting industries, firms without the duality of chairperson and CEO, firms with high analyst coverage, and those under high market competition. The moderating effect of green innovation is particularly significant in firms with poor external legal environments and firms with positive management tone. Our findings provide novel insights and recommendations for policymakers, managers, and stakeholders to develop effective ESG policies.

When explaining the causes of structural variations in local governance reform, regional studies scholars face a trilemma: how to avoid voluntarism that over-inflates individuals’ power to ‘heroically’ reorganize local governance regimes; how to avoid determinism that denies the prowess of local actors in the face of institutional constraints; and how to avoid constructivism that denies the separate existence of both individual actions and local institutions. The question they must answer is: if individuals are embedded in institutions that define their interests and shape their cognitions, how can they ever be able to change institutions? Critical realism suggests a suitable answer to this question by seeing institutional dynamics as consisting of structures, institutions, and actions, each with a distinct existence but nevertheless irreducible to each other. The practical value of this ontology – which avoids voluntarism, determinism and constructivism – is illustrated by an English devolution case study.

Resumo: Não apenas as famílias aristocráticas indígenas, mas também as famílias de imigrantes do norte que viviam no Leste de Zhejiang, estavam envolvidas nos debates sobre teoria monetária e pensamento político, na Dinastia Jin Oriental e Dinastias do Sul. Os debates geralmente se concentravam nos preços das commodities e no trabalho forçado no Leste de Zhejiang. Esse fenômeno histórico especial reflete duas questões. Por um lado, o caos causado pela guerra no Norte e as famílias de estudiosos, migrando para o Sul, promoveram muito o desenvolvimento do Sul da China, o que tornou os cinco condados do leste de Zhejiang as áreas mais importantes e ativas da economia. Por outro lado, reflete as mudanças de relacionamento entre imigrantes e nobres indígenas. Ou seja, as famílias aristocráticas indígenas e as famílias imigrantes do Norte cooperaram na economia para aumentar a prosperidade e o desenvolvimento do Leste de Zhejiang. Mais tarde, com o surgimento de “povo comum (寒人)”, o status econômico dos estudiosos foi cada vez mais impactado, o que resultou em ansiedade e consciência de crise dos nobres.

With widespread advances in the diffusion and application of medical technologies, the phenomena of misuse and overuse have become pervasive. These phenomena not only increase the cost of health care systems and deplete the accessibility and availability of health care services, they also jeopardize patient autonomy. From a literature review on this aspect of medical technology, an impact on patient autonomy is found in almost all cases, with the exception of philosophical or ethical writings, in which there is not much practical application for health policy and law. In this article, the major finding is that in the area of patient autonomy, it does not matter much whether the “physician decides” or the “patient decides” in the current “disease care” health system, where most of the doctors focus only on disease treatment using aggressive medical technologies. It is also our “disease care” system that ensures that the patients, the health care professionals, or the health care management cannot safeguard their autonomy. Only when the genuine health care system is restored will patient autonomy be protected.

In previous research comparing the Context-driven Model with the Default Model of meaning processing, the former was preferred. It predicts that contexts play an exclusively decisive role in meaning processing, whereas the latter holds that the inference of literal meaning generally goes through, unless it is subsequently defaulted or cancelled by the context it is associated with. The Standardization Model, which we added to our experiments, highlights that implicatures are figured out from standardized forms typically based on the mutual background belief and speaker’s intention. We tested whether Chinese people’s processing of the gradable adjective scale conformed more to the Context-driven Model, the Default Model, or the Standardization Model. The results demonstrated that the Standardization Model is the most acceptable among the three. The findings of this study, which is the first study using the experimental paradigm on Chinese gradable adjectives, highlighted a need for further studies to investigate the same questions with different languages and cultures.

With the emergence of organ donation and donation technology, the previous indivisibility of the human body becomes divisible, and different human organs form a new life subject. With reference to specific case studies in China, a new life, consisting of donated organs from different bodies by donation, can be called “donated life.” Donated life is a win‐win action between altruism and egoism, that is, to save the lives of others and to regenerate the organs of donors or their relatives. Due to the emergence of this kind of life, traditional social ethics theories based on the marriage‐related family find it difficult to difficult to explain the new realities. Thus, new thinking about social ethics is necessary.

The counterfactual account of physical computation is simple and, for the most part, very attractive. However, it is usually thought to trivialize the notion of physical computation insofar as it implies ‘limited pancomputationalism’, this being the doctrine that every deterministic physical system computes some function. Should we bite the bullet and accept limited pancomputationalism, or reject the counterfactual account as untenable? Jack Copeland would have us do neither of the above. He attempts to thread a path between the two horns of the dilemma by buttressing the counterfactual account with extra conditions intended to block certain classes of deterministic physical systems from qualifying as physical computers. His theory is called the ‘algorithm execution account’. Here we show that the algorithm execution account entails limited pancomputationalism, despite Copeland’s argument to the contrary. We suggest, partly on this basis, that the counterfactual account should be accepted as it stands, pancomputationalist warts and all.