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Political Ideologies of CEOs: The Influence of Executives' Values on Corporate Social Responsibility
This article examines the influence on organizational outcomes of CEOs' political ideology, specifically political conservatism vs. liberalism. We propose that CEOs' political ideologies will influence their firms' corporate social responsibility (CSR) practices, hypothesizing that (1) liberal CEOs will emphasize CSR more than will conservative CEOs; (2) the association between a CEO's political ideology and CSR will be amplified by a CEO's relative power; and (3) liberal CEOs will emphasize CSR even when recent financial performance is low, whereas conservative CEOs will pursue CSR initiatives only as performance allows. We test our ideas with a sample of 249 CEOs, measuring their ideologies by coding their political donations over the ten years prior to their becoming CEOs. Results indicate that the political ideologies of CEOs are manifested in their firms' CSR profiles. Compared with conservative CEOs, liberal CEOs exhibit greater advances in CSR; the influence of CEOs' political liberalism on CSR is amplified when they have more power; and liberal CEOs' CSR initiatives are less contingent on recent performance than are those of conservative CEOs. In a corroborative exploration, we find that CEOs' political ideologies are significantly related to their corporate political action committee allocations, indicating that this largely unexplored executive attribute might be more widely consequential.
Journal Article
Towards Software-Defined Protection, Automation, and Control in Power Systems: Concepts, State of the Art, and Future Challenges
Nowadays, power systems’ Protection, Automation, and Control (PAC) functionalities are often deployed in different constrained devices (Intelligent Electronic Devices) following a coupled hardware/software design. However, with the increase in distributed energy resources, more customized controllers will be required. These devices have high operational and deployment costs with long development, testing, and complex upgrade cycles. Addressing these challenges requires that a ’revolution’ in power system PAC design takes place. Decoupling from hardware-dependent implementations by virtualizing the functionalities facilitates the transition from a traditional power grid into a software-defined smart grid. This article presents a survey of recent literature on software-defined PAC for power systems, covering the concepts, main academic works, industrial proof of concepts, and the latest standardization efforts in this rising area. Finally, we summarize the expected future technical, industrial, and standardization challenges and open research problems. It was observed that software-defined PAC systems have a promising potential that can be leveraged for future PAC and smart grid developments. Moreover, standardizations in virtual IED software development and deployments, configuration tools, performance benchmarking, and compliance testing using a dynamic, agile approach assuring interoperability are critical enablers.
Journal Article
CONCENTRATION OF TEMPERED POSTERIORS AND OF THEIR VARIATIONAL APPROXIMATIONS
While Bayesian methods are extremely popular in statistics and machine learning, their application to massive data sets is often challenging, when possible at all. The classical MCMC algorithms are prohibitively slow when both the model dimension and the sample size are large. Variational Bayesian methods aim at approximating the posterior by a distribution in a tractable family 𝓕. Thus, MCMC are replaced by an optimization algorithm which is orders of magnitude faster. VB methods have been applied in such computationally demanding applications as collaborative filtering, image and video processing or NLP to name a few. However, despite nice results in practice, the theoretical properties of these approximations are not known. We propose a general oracle inequality that relates the quality of the VB approximation to the prior π and to the structure of 𝓕. We provide a simple condition that allows to derive rates of convergence from this oracle inequality. We apply our theory to various examples. First, we show that for parametric models with log-Lipschitz likelihood, Gaussian VB leads to efficient algorithms and consistent estimators. We then study a high-dimensional example: matrix completion, and a nonparametric example: density estimation.
Journal Article
The Hypocrisy of OpenAI and Palantir
A super PAC that’s funded by co-founders of Palantir, OpenAI and Andreessen Horowitz is spending millions on attack ads opposing Alex Bores’s campaign for Congress. On “The Ezra Klein Show,” the New York state assemblyman explains how tech companies have targeted his pro-regulation positions, despite publicly claiming to welcome A.I. oversight.
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Tax-Exempt Lobbying
We explore the role of charitable giving as a means of political influence. For philanthropic foundations associated with large US corporations, we present three different identification strategies that consistently point to the use of corporate social responsibility in ways that parallel the strategic use of political action committee (PAC) spending. Our estimates imply that 6.3 percent of corporate charitable giving may be politically motivated, an amount 2.5 times larger than annual PAC contributions and 35 percent of federal lobbying. Absent of disclosure requirements, charitable giving may be a form of corporate political influence undetected by voters and subsidized by taxpayers.
Journal Article
BAYESIAN FRACTIONAL POSTERIORS
We consider the fractional posterior distribution that is obtained by updating a prior distribution via Bayes theorem with a fractional likelihood function, a usual likelihood function raised to a fractional power. First, we analyze the contraction property of the fractional posterior in a general misspecified framework. Our contraction results only require a prior mass condition on certain Kullback–Leibler (KL) neighborhood of the true parameter (or the KL divergence minimizer in the misspecified case), and obviate constructions of test functions and sieves commonly used in the literature for analyzing the contraction property of a regular posterior. We show through a counterexample that some condition controlling the complexity of the parameter space is necessary for the regular posterior to contract, rendering additional flexibility on the choice of the prior for the fractional posterior. Second, we derive a novel Bayesian oracle inequality based on a PAC-Bayes inequality in misspecified models. Our derivation reveals several advantages of averaging based Bayesian procedures over optimization based frequentist procedures. As an application of the Bayesian oracle inequality, we derive a sharp oracle inequality in multivariate convex regression problems. We also illustrate the theory in Gaussian process regression and density estimation problems.
Journal Article
Naldemedine in Japanese patients with opioid-induced constipation and chronic noncancer pain: open-label Phase III studies
Naldemedine is a peripherally-acting µ-opioid-receptor antagonist, approved in Japan for opioid-induced constipation (OIC). In two open-label, single-arm, Phase III studies, we evaluated the safety and efficacy of naldemedine in Japanese patients with OIC receiving regular-use opioids (COMPOSE-6) or prolonged-release oxycodone (COMPOSE-7) for chronic noncancer pain.
Eligible Japanese adults with OIC and chronic noncancer pain received once-daily oral naldemedine 0.2 mg for 48 weeks, irrespective of food intake. Primary end points included measures of treatment-emergent adverse events (TEAEs), pain intensity, and opioid withdrawal. Secondary efficacy end points were evaluated at treatment week 2. Patient Assessment of Constipation Symptoms (PAC-SYM) and Quality of Life (PAC-QOL) scores were evaluated in both 48-week studies.
Of patients enrolled in COMPOSE-6 (N = 43) and COMPOSE-7 (N = 10), TEAEs were reported in 88% (95% CI 74.9-96.1) and 90% (95% CI 55.5-99.7), respectively. The most frequently reported TEAEs, nasopharyngitis and diarrhea, were mostly mild or moderate in severity. Assessments of pain intensity and opioid withdrawal remained stable over the 48-week treatment periods of both studies. The proportion of spontaneous bowel-movement responders at week 2 in COMPOSE-6 was 81.0% (95% CI 65.9-91.4) and 90.0% (95% CI 55.5-99.7) in COMPOSE-7. Significant and sustained improvements in PAC-SYM and PAC-QOL scores were also observed in both studies (all
<0.05).
Side effects that occurred with naldemedine were mostly mild or moderate in severity, and the data suggested that naldemedine can improve bowel function and QOL in Japanese patients with OIC receiving regular-use opioids or prolonged-release oxycodone for chronic noncancer pain.
Journal Article
Neural responses to social decision-making in suicide attempters with mental disorders
Background
Decision-making deficits have been reported in suicide attempters and may be a neuropsychological trait of vulnerability to suicidal behavior. However, little is known about how neural activity is altered in decision-making. This study aimed to investigate the neural responses in suicide attempters with mental disorders during social decision-making. Electroencephalography (EEG) were recorded from 52 patients with mental disorders with past suicide attempts (SAs = 26) and without past suicide attempts (NSAs = 26), as well as from 22 age- and sex- matched healthy controls (HCs) during the Ultimatum Game (UG), which is a typical paradigm to investigate the responses to fair and unfair decision-making.
Methods
MINI 5.0 interview and self report questionnaire were used to make mental diagnosis and suicide behavior assessment for individuals. Event-related potential (ERP) and phase-amplitude coupling (PAC) were extracted to quantify the neural activity. Furthermore, Spearman correlation and logistic regression analyses were conducted to identify the risk factors of suicidal behavior.
Results
ERP analysis demonstrated that SA patients had decreased P2 amplitude and prolonged P2 latency when receiving unfair offers. Moreover, SA patients exhibited greater negative-going feedback-related negativity (FRN) to unfair offers compared to fair ones, whereas such a phenomenon was absent in NSA and HC groups. These results revealed that SA patients had a stronger fairness principle and a disregard toward the cost of punishment in social decision-making. Furthermore, theta-gamma and beta-gamma PAC were involved in decision-making, with compromised neural coordination in the frontal, central, and temporal regions in SA patients, suggesting cognitive dysfunction during social interaction. Statistically significant variables were used in logistic regression analysis. The area under receiver operating characteristic curve in the logistic regression model was 0.91 for SA/HC and 0.84 for SA/NSA.
Conclusions
Our findings emphasize that suicide attempts in patients with mental disorders are associated with abnormal decision-making. P2, theta-gamma PAC, and beta-gamma PAC may be neuro-electrophysiological biomarkers associated with decision-making. These results provide neurophysiological signatures of suicidal behavior.
Journal Article