The Religious Significance of Kant’s Ethics

This paper provides analysis of Kant's Categorical Imperative and its relevance to religion. I discuss what the concept of a categorical imperative implies about self-transcendence, and what this understanding of self-transcendence indicates about the self's relation to God and others

Disclosure Quality and Corporate Governance: Evidence from the French Stock Market.

This paper examines a combined set of corporate governance features that influence disclosure quality in a context of ownership concentration. Agency theory presents a theoretical framework linking disclosure decision to corporate governance mechanisms. Using a Multiple Correspondence Analysis (MCA), we find that firms with poor disclosure quality have higher ownership concentration, are family controlled, have a low proportion of outside directors in the board, little presence of institutional investors in the capital shares, no executive stock options plans, and present dual class shares. The MCA results also show that firms with good disclosure are not controlled by families and are characterised by a high proportion of outside directors in the board, ownership dispersion and a significant presence of institutional investors in the capital shares. As a confirmatory analysis, we use a binary LOGIT. After controlling for size, multiple listing and CAC40 membership, the results confirm a negative association between disclosure quality and family control, double voting shares grant, and ownership concentration. The results also show a positive relationship between disclosure quality and the presence of executive stock options plans, and the proportion of independent directors in the board. These findings shed the light on corporate governance features that enhance incentives for good disclosure under high ownership concentration.disclosure quality; corporate governance; ownership structure; agency theory; Gouvernance d'entreprise; corporate governance; Structure de propriété; Publication financière;

Disclosure quality and corporate governance: Evidence from the French Stock Market

This paper examines a combined set of corporate governance features that influence disclosure quality in a context of ownership concentration. Agency theory presents a theoretical framework linking disclosure decision to corporate governance mechanisms. Using a Multiple Correspondence Analysis (MCA), we find that firms with poor disclosure quality have higher ownership concentration, are family controlled, have a low proportion of outside directors in the board, little presence of institutional investors in the capital shares, no executive stock options plans, and present dual class shares. The MCA results also show that firms with good disclosure are not controlled by families and are characterised by a high proportion of outside directors in the board, ownership dispersion and a significant presence of institutional investors in the capital shares. As a confirmatory analysis, we use a binary LOGIT. After controlling for size, multiple listing and CAC40 membership, the results confirm a negative association between disclosure quality and family control, double voting shares grant, and ownership concentration. The results also show a positive relationship between disclosure quality and the presence of executive stock options plans, and the proportion of independent directors in the board. These findings shed the light on corporate governance features that enhance incentives for good disclosure under high ownership concentration.Pas de mots clés

A Generalized Estimating Equations Approach to Model Heterogeneity and Time Dependence in Capture-Recapture Studies

Individual heterogeneity in capture probabilities and time dependence are fundamentally important for estimating the closed animal population parameters in capture-recapture studies. A generalized estimating equations (GEE) approach accounts for linear correlation among capture-recapture occasions, and individual heterogeneity in capture probabilities in a closed population capture-recapture individual heterogeneity and time variation model. The estimated capture probabilities are used to estimate animal population parameters. Two real data sets are used for illustrative purposes. A simulation study is carried out to assess the performance of the GEE estimator. A Quasi-Likelihood Information Criterion (QIC) is applied for the selection of the best fitting model. This approach performs well when the estimated population parameters depend on the individual heterogeneity and the nature of linear correlation among capture-recapture occasions