...Many social scientists believe that social norms are important in shaping economic behavior and market outcomes, overriding at times even the profit motive. The authors find that a societal norm exists against funding operations that promote vice and that some investors are willing to pay a financial cost to abstain from these stocks. Consequently, sin stocks are less widely held and tend to be relatively cheap when benchmarked against comparables. A key issue in the literature on socially responsible investing is whether it causes corporations to change their behavior. The authors show that for sin stocks, the neglect by large institutions significantly affects their cost of capital. The Price of Sin: The Effects of Social Norms on Markets I. Introduction In this paper, Harrison Hong and Marcin Kacperczyk analyze the effects of social norms on markets by studying sin stocks i.e. publicly traded companies engaged in producing alcohol, tobacco and gaming. Due to the societal norm against funding operations that promote human vice, many investors steer away from supporting these companies by investing in their stocks. II. Background on and Selection of Sin Stocks The authors deduce that the three products namely tobacco, alcohol and gaming are viewed as sinful by individuals and social groups owing to their addictive qualities and unfavorable social consequences when consumed extremely. III. Data The authors illustrate their data collected of these stocks. A. Variables...
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...Critics of negative screening charge that merely excluding companies for their socially repugnant practices has no net impact, because there is always someone out there that willing to buy their shares instead. They assert that screening offensive companies may make the investor feel better about where they are putting their money, but they are not helping encourage social change and environmental improvement. But negative screening still has an appropriate place in the quiver of tactics used by socially responsible investors, to be complemented by positive screening and shareholder activism, and will remain the most palatable starting point for many. It is also important to note that while one investor excluding their investment from a company because of a particular activity will not make that company mend its ways, its the cumulative effect that's important. This is analogous to voting in a national election, where individual votes collectively create a "voice." For example, the recent struggles of the tobacco industry illustrate the cumulative and emergent effects of investor and consumer advocacy over its health effects. Most people imagine that the majority of companies included by positive screening are smaller companies embarking on products that may contribute to the world's future economic and environmental sustainability. Alternative forms of energy that produce less pollution, such as solar power, wind power, and hydrogen fuel cells, constitute a rapidly growing and...
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...found out that the inhabitants in an island near Venezuela have already been practicing chewing dried leaves. In 1591, Mexico has already been growing tobacco at an increasing rate. It was believed that the tobacco was introduced by the Spaniards and Portuguese to mainland Europe, East Indies and Asia while they are on an expedition for searching for spices and spreading Christianity. Cigarette smoking became one of the highly sought after vice in the Philippines because of the affordable price of each stick ranging from seventy-five centavos to 2 pesos each, depending on its brand. The Philippine government came up with an idea of increasing the taxes imposed upon alcoholic beverages and cigarette sticks in order to minimize its harmful effects to human body. On 02 December 2012, President Benigno S. Aquino III signed into law Republic Act 10351, otherwise known as the “Sin Tax Law” which provides for additional tax on sin products such as alcohols and tobacco products. Prices of liquor and tobacco products increased from 100-200% immediately after the...
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...Capitalism is an economic system based on the private ownership of the means of production, with the goal of making a profit.[1][2][3] Central elements of capitalism include capital accumulation, competitive markets, and a price system.[4] There are, however, multiple variants of capitalism, including laissez-faire, welfare capitalism, and state capitalism. Capitalism is considered to have been applied in a variety of historical cases, varying in time, geography, politics, and culture. Discussing the impact of capitalism on culture can be difficult. In what way is “capitalism” responsible for a given aspect of culture, indeed can any aspect of culture be said to be a product of “capitalism”? Yes, certain aspects of culture and society can be said to be a product of “capitalism”, but defining how and why something is said to be a product of capitalism is very important. Some of the key concepts relating to an analysis of the effects of capitalism on culture are profit motive, commodity, human desire, and the market economy. The capitalist system is based on private ownership and consolidation of the means of production, where the production of commodities is guided by profit motive to satisfy human desires Definition: Materialism is the importance placed on material possessions. Someone with a high level of materialism, described as "materialistic," considers material possessions to be central to their life and their identity, and focuses a good deal of their energy on acquiring...
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...Religions influence on American Democracy and it's effect on Globalization Abstract A person's religious beliefs greatly influence his or her ethical behaviors. According to reports, religion is one of the strongest motivators for individuals to exhibit ethical behaviors in all areas of their lives. Modern thought tends to see religion as one sphere of society, alongside politics, economics, science, family, morality and so on. There is much written about business and organizational ethics but there is little written about the behaviors that people display to demonstrate they are ethical humans. It is almost as if an organization is perceived as an entity capable of doing behaviors without the human element. Decisions within the corporate world are shaped not merely by ethical ideals but also by economic, social, political and legal constraints. Christian ethics, for most people, becomes the art of discerning the morally "more or less," the less than perfect "better or worse," in the myriad of trade-offs among competing values and interests. Modern thought tends to see religion as one sphere of society, alongside politics, economics, science, family, morality and so on. There is much written about business and organizational ethics but there is little written about the behaviors that people display to demonstrate they are ethical humans. It is almost as if an organization is perceived as an entity capable of doing behaviors without the human element. This...
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...humanity’s survival, it has become far more than an important factor of health and nutrition. In food studies, the complex relationship between food and humans is explored. Food studies is more than just the study of food itself, as it is different from the traditional foodrelated areas like nutrition, molecular science and gastronomy. It is explored via multiple perspectives such as art, history, sociology, psychology, social justice and economics. With psychology having the largest connection to food studies, researchers can look deeply into eating and find a deeper meaning to help them understand humanity in a greater way. A meal has the image of unity and brings people together. Food choices can tell stories of families, groups and individuals. “The ways in which foods are eaten in various nationalities signified unconscious attributes and qualities” ( “Thinking Made Easy” ). Humans live by symbols to make sense of this world, to help organize and to give meaning to our existence. Every group, whether it is bound with religion or social status, thinks of itself as “special and exceptional and uses food to show it” ( Civitello ). During the Chinese New Year, traditional dishes are carried with great significance based upon superstitions affiliated with spirituality. The Chinese “serve the fish whole with head and tail intact to represent a good beginning and a good Brown 2 end for the coming year. Serving fish this way is also supposed to symbolize wealth...
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...relationship between Latin America and one of IFIs, IMF whose role is so involved with Latin America’s economy. The first session will explain the relevance between the region and IMF and in the following part, there will be the reasons that Latin America could escape from IMF’s control. Past relationship between Latin America and IMF The IMF was set up to assist countries that had temporary current account deficits and lacked a sufficient quantity of official reserve assets to support a fixed exchange rate. However, the slow motion collapse of the fixed exchange rate system in the 1970s created an odd situation for the IMF. At about the same time as the attempts to reconstruct the global system of fixed exchange rates was becoming futile, oil prices soared. While the IMF was created to finance temporary current account deficits in a fixed exchange rate system, it increasingly was lending large amounts of money to countries in the region that were already heavily indebted. It was also attempting to get other creditors to...
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...DEFINATION OF TERMS: Sociology; Sociology is the scientific study of human social behavior and human association and results of social activities. Sociologists are concerned with; • the study of social behavior • relationship among social groups and societies • the maintenance of stability and order PURPOSE OF SOCIOLOGY Sociologists develop knowledge on people and on their behaviors and activities in order to better understand societal interactions. Sociologists study the social systems (family, school, church, economy, political, etc) in which individuals fill their roles, people in relation to others. IS SOCIOLOGY A SCIENCE? Sociology is a science, but it is considered a "soft" science, along with psychology. A soft science is anything that is based more on the judgment of the professional than actual facts. Hard sciences are things like nuclear physics and maths. Elements of scientific study of society. • The use of theories in explaining Social phenomenon and human behavior • Conducting of social researches which involves systematic/scientific methods • Analyzing of societal issues using scientific approaches Furthermore using the positivist approach adopted by Marx and Engels enables the establishment of laws of human behavior in the same way natural scientists have established laws of the natural world. Their approach to dialectics was a development of the philosophical theory of Hegel, (1877). ...
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...School of Communication and Creative Arts Department of Communication & Media Studies Subject Code: MBAM 003 Subject Name: Media Planning & Buying Group Assignment May 2015 Semester Group Members: 1) Yew Chi Yin (0103082) 2) Liew Kah Chun (0110111) 3) Nor Azeriah Aida Bt Awang (0107003) 4) Kwang Yuk Ching (0100919) 5) Shawn Khoo Kay Keong (0106679) 6) Chong Po Yeng (0103069) Assignment Due Date: 27th July 2015 TABLE OF CONTENTS TITLE PAGE …………………………………………………………………...…….I 1 BACKGROUND Current Skincare Trend in Malaysia…………………………………...….1 Latest Value Perceptions toward Skincare…………………………..…....3 Top 4 Trends in Skin Care in Malaysia……………………….……..……4 Brief about L’Oréal Paris……………………………………..……….…..5 Current Direction of L’Oréal………………………………..……….……6 Skincare Products under L’Oréal Paris………………………………...….7 Prospective Consumers……………………………………………..….….7 Competitor Analysis…………………………………………………....….8 2 MARKETING OBJECTIVE …………………………………………….…11 3 ADVERTISING OBJECTIVE…………………………………………..…..11 4 TARGET AUDIENCE ANALYSIS AND RECOMMENDATION……..…12 5 SWOT ANALYSIS ……………………………………………………..…..14 6 MEDIA OBJECTIVE………………………………………………..………16 7 MEDIA STRATEGY………………………………………………..………16 8 MEDIA MIX……………………………………………………...…...…….17 9 MEDIA PLAN Thematic Media Plan………………………………………….…….20 Event Media Plan…………………………………………...…..…...25 Media Flowchart…………………………………………………….28 II 10 CONCLUSION.……………………………………………………..……...
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...TITLE Social Contracts and Marketing Ethics CITE “Social Contracts and Marketing Ethics,” Journal of Marketing, 63(July): 14-32 1999. AUTHORS Thomas W. Dunfee 1 N. Craig Smith2 William T. Ross Jr. 3 1- The Wharton School, University of Pennsylvania, 3620 Locust Walk, Philadelphia, Pennsylvania, 19036-6369. Phone: 215.898.7691 Fax: 215.573.2006 Email: dunfeet@wharton.upenn.edu. 2- The McDonough School of Business, Georgetown University, Washington, DC, 20057 Phone: 202.687.5405 Fax: 202.687.4031 Email, smithn@gunet.georgetown.edu. 3- School of Business and Management, Temple University, Speakman Hall (006-00), Philadelphia, Pennsylvania, 19122 Phone: 215.204.8111 Fax: 215.204.6237 Email: rossw@sbm.temple.edu. Acknowledgements: The authors thank Thomas Donaldson, Diana Robertson and participants in the Kennedy Institute of Ethics Seminar at Georgetown University, and three anonymous reviewers for helpful comments on earlier versions of this article. Funding by the Carol and Lawrence Zicklin Center for Business Ethics Research and the Georgetown University School of Business summer research fund is gratefully acknowledged. Abstract This paper describes the need and the search to date for a normative moral foundation for marketing. Social contract theory appears promising because of its clear correspondence to the exchange relationships central to marketing thought and practice. It is introduced in a specific formulation known as Integrative Social...
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...Chapter One Introduction 1.1 Introduction Displaced people fall on new life struggle by losing their social capital and network due to river bank erosion (Field observation). For this reason, in this study, the research problem was loss of social capital, network and role of safety net of the displaced people by River Bank Erosion (RBE). The main objective of this study was to measure the loss of social capital including network due to RBE, to explore the changing situation (social, economic and political) that displaced people face due to loss of social capital including network by RBE, to discover how do displaced people create new social capital including network and to assess the role of safety net to meet present crisis. In the context of socio-economic, geographical and ecological condition, the social capital including network and safety net is more important tool to meet any natural crisis. In this study village, the displaced people lost their material object as well as social capital and network. That’s why this study has focused on social capital including network and safety net programs in the context of river bank erosion. In this research problem, the word social capital has been considered as relationships, connections, links, and affiliations among displaced people and network has been referred as an informal relationship among persons, individuals and groups and safety net has been referred as the roles/programs of government and non government organizations...
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...Chapter Two The Production Possibility Model, Trade, and Globalization Learning Objectives After you teach the material in this chapter, your students should be able to do the following: 1. Demonstrate opportunity cost with a production possibility curve. 2. State the principle of increasing marginal opportunity cost. 3. Relate the concept of comparative advantage to the production possibility cure. 4. State how, through comparative advantage and trade, countries can consume beyond their production possibilities. 5. Explain how globalization and outsourcing are part of a global process guided by the law of one price. Chapter Outline This is meant to be an outline and summary of what your students read in this chapter in the text, both in terms of concepts and examples. Headings and subheadings are tagged with the number of the learning objective (LO) to which the material in that section most closely relates and the associated PowerPoint slide numbers, so you may also use this to help you outline your lecture. Material followed by a ( is new to the 8th edition. • The Production Possibility Model, Trade, and Globalization • The three main coordination problems are reviewed, and students are reminded about the concept of opportunity cost, which will be central in this chapter to understand production possibilities. • The Production Possibilities Model (LO1) [PPT Slides 3 & 4] • Production...
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...Notes for the Course: Religion and Ethics in our Modern Society, 2012 By Dr H Ndlovu Definition and Nature of Christian Ethics Ethics is derived from the Greek word “ethos” that is also comes from another word “ethika.” Ethika means norms, conventions, values, customs the society. Thus ethics is a discipline that examines one’s moral standards or the moral of a society. These are absorbed from family, church and friends. Why Study Ethics There are nine reasons why human beings have to study ethics. 1. Human beings are capable of reasoning from cause to effect with the understanding that everything done has effect. 2. Human beings are capable of making choices after comparing the alternatives, that is, internal and external. People have two cells namely: a. Real – what we have now b. Ideal – what we are aiming at 3. Human beings are self – conscious. This means we can study ourselves by being a subject and be the object at the same time. 4. Human beings are finite or limited not knowing what will happen from the next moment or next door. Thus, we must have principles to apply when situations comes. 5. Human life is an active dynamic phenomenon – We do something as if we do nothing. 6. People also can be taught to be good (Isaiah 1 :18) 7. Human beings are capable of filing an obligation 8. Human beings are also capable of understanding what moral terms like freedom, dignity and so on affects other people. 9. Finally, human beings need to survive. Human civilization...
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...is the distinction between Structural and Social action theories. Structural or macro perspectives analyses the way society as a whole fits together. Structural theory sees society as a system of relationships that creates the structure of the society in which we live. It is this structure that determines our lives and characters. Structured sets of social relationships are the 'reality' that lie below the appearance of 'the free individual' of western individualism. Structuralism focuses on the particular set of 'structural laws' that apply in any one society. Despite their differences, both functionalism and Marxism use a model of how society as a whole works. Many functionalists base their model of society around the assumption of basic needs and go to explain how different parts of society help to meet those needs. Marxists, on the other hand, see society as resting upon an economic base or infrastructure, with a superstructure above it. They see society as divided into social classes which have the potential to be in conflict with each other. However, the main differences between functionalist and Marxist perspectives then, is the way they characterize the social structure. Functionalists stress the extent to which the different elements of the social structure fit together harmoniously. Marxists stress the lack of fit between the different parts, particularly social classes, and so emphasize the potential for social conflict. Not all sociological...
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...3815 3396 Email: mj.int@cbs.dk www.cbs.dk/arc International Business Studies and the Imperative of Context. Exploring the ‘Black Whole’ in Institutional Theory Michael Jakobsen Associate Professor Asia Research Centre Copenhagen Business School mj.int@cbs.dk Abstract The aim of this article is to take a critical look at how to perceive informal institutions within institutional theory. Douglas North in his early works on institutional theory divided the national institutional framework into two main categories, formal and informal institution or constraints as he called them. The formal constraints consisted of political rules, judicial decisions and economic contracts, whereas informal constraints consisted of socially sanctioned norms of behaviour, which are embedded in culture and value systems. As formal constraints are straight forward to deal with the informal ones are much more vaguely defined and thus more difficult to grasp analytical. This imprecise perception of informal constraints is surprising as they basically constitute the foundation of the society in question, whereas formal constraints ‘only’ constitute...
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