Sustainable development: Paradoxes, misunderstandings and learning organizations

Purpose: Sustainability is, in itself, the idea of a harmonic answer to the dual nature of the most pressing problem for global society. Most of the problems dealing with sustainability concern its dual and contradictory nature. That paradoxical reality is in no way a unique feature of sustainability; its universal pervasiveness is demonstrated by the attention that Western and Eastern philosophies have given to it. This paper seeks to describe paradoxes that arise in managerial and organizational learning processes and proposes a taxonomy. It pays special attention to the central paradox of 'complexifying' and to reductionism-holism in science. Design/methodology/approach: The work is based on the theories of organizational learning and managerial cybernetics, under the paradox view of management. Findings: The study shows the relevance of the paradox view to management understanding of the complexity of sustainability, its controversial nature; and how the latter relates to epistemology and to the complementarity of analytical and synthetics methods in research and science. It also demonstrates that, at organizational levels, harnessing tensions that emerge from natural paradoxical situations enhances sustainable oriented decision-making. Research limitations/implications: The paper builds a bridge toward scientific communities that, working on sustainability and/or complexity, are unaware of the important contribution of cybernetics, especially Ashby's work and the VSM's relevance to the examination of complex societal issues. Practical implications: The paper provides a platform to enquire on the implications of societal learning on sustainability, and on de facto global digital networks emerging from over ideologized constituents that, in the name of the greenness of the environment and of a just society, fail to see how rapidly global society is positively changing after the dark years of the Cold War. Originality/value: The paper reviews current developments on the paradox view of management, and proposes a taxonomy of paradoxes based on managerial cybernetics and organizational learning. © Emerald Group Publishing Limited

From Autonomy to Accountability: Envisioning AI’s Legal Personhood

This paper critically examines the concept of granting legal personhood to artificial intelligence (AI) systems, addressing the challenges and implications within the context of evolving legal and societal frameworks. It navigates through the historical understanding of personhood, the ethical considerations posed by advanced AI capabilities, and the philosophical underpinnings of AI’s potential roles and responsibilities in society. By proposing a hypothetical scenario where AI is recognized with specific legal attributes, the study highlights the need for dynamic legal frameworks, international collaboration, and ethical AI development to ensure laws remain relevant and effective. The conclusion advocates for a multidisciplinary approach to crafting adaptable legal structures that acknowledge AI’s unique contributions to society while safeguarding human dignity and societal welfare, urging forward-looking policies that balance technological innovation with ethical and legal integrity

Do Labor Reforms in Spain Have an Effect on the Equilibrium Unemployment Rate?

In this paper, we analyze the impact of several labor reforms in Spain on its equilibrium unemployment rate. To this end, we analyzed the behavior of the observed unemployment rate in Spain during the 1976-2012 period, thereby assessing whether that rate is better characterized as a hysteresis process or, on the contrary, as a stationary process with fluctuations around an equilibrium unemployment rate (NAIRU). In order to achieve this aim, we employed unit root contrasts with structural change. Similarly, in order to calculate the equilibrium unemployment rate, we applied the methodology of multiple structural changes proposed by Bai & Perron (1998, 2003a). This method allows the estimation of breaking dates and the values of unemployment rates for each of the selected regimes. Lastly, we compare the direction in the changes of the equilibrium unemployment rate, as well as the dates of those breaking points, with the dates in which different labor reforms were enacted in Spain. This will allow us to determine whether those reforms had any effect on the Spanish labor market. The obtained results suggest that only the reforms of 1980, 1997 and 2006 had some influence on the equilibrium unemployment rate level in combination with changes in inflation and sectorial employment structure

The Rise of 144A Market for Convertible Debt

We document and study the migration of convertible debt offerings from the public to the 144A market during 1991-2004. Over 88% of the 144A convertible debt issues are subsequently registered. An analysis of financing costs (gross spreads, yields, and stock price announcements) and issue characteristics indicates that convertible debt issues in these two markets are essentially the same. We find evidence that the 144A market allows firms to better time equity market conditions. Our findings are consistent with the hypothesis that the 144A market is attractive because it allows firms to issue convertible debt more quickly

Management information:design of a system for change identification

This thesis deals with the problem of Information Systems design for Corporate Management. It shows that the results of applying current approaches to Management Information Systems and Corporate Modelling fully justify a fresh look to the problem. The thesis develops an approach to design based on Cybernetic principles and theories. It looks at Management as an informational process and discusses the relevance of regulation theory to its practice. The work proceeds around the concept of change and its effects on the organization's stability and survival. The idea of looking at organizations as viable systems is discussed and a design to enhance survival capacity is developed. It takes Ashby's theory of adaptation and developments on ultra-stability as a theoretical framework and considering conditions for learning and foresight deduces that a design should include three basic components: A dynamic model of the organization- environment relationships; a method to spot significant changes in the value of the essential variables and in a certain set of parameters; and a Controller able to conceive and change the other two elements and to make choices among alternative policies. Further considerations of the conditions for rapid adaptation in organisms composed of many parts, and the law of Requisite Variety determine that successful adaptive behaviour requires certain functional organization. Beer's model of viable organizations is put in relation to Ashby's theory of adaptation and regulation. The use of the Ultra-stable system as abstract unit of analysis permits developing a rigorous taxonomy of change; it starts distinguishing between change with in behaviour and change of behaviour to complete the classification with organizational change. It relates these changes to the logical categories of learning connecting the topic of Information System design with that of organizational learning

2MASS J18082002-5104378: The brightest (V=11.9) ultra metal-poor star

Context. The most primitive metal-poor stars are important for studying the conditions of the early galaxy and are also relevant to big bang nucleosynthesis. Aims. Our objective is to find the brightest (V<14) most metal-poor stars. Methods. Candidates were selected using a new method, which is based on the mismatch between spectral types derived from colors and observed spectral types. They were observed first at low resolution with EFOSC2 at the NTT/ESO to obtain an initial set of stellar parameters. The most promising candidate, 2MASS J18082002-5104378 (V=11.9), was observed at high resolution (R=50 000) with UVES at the VLT/ESO, and a standard abundance analysis was performed. Results. We found that 2MASS J18082002-5104378 is an ultra metal-poor star with stellar parameters Teff = 5440 K, log g = 3.0 dex, vt = 1.5 km/s, [Fe/H] = -4.1 dex. The star has [C/Fe]<+0.9 in a 1D analysis, or [C/Fe]<=+0.5 if 3D effects are considered; its abundance pattern is typical of normal (non-CEMP) ultra metal-poor stars. Interestingly, the star has a binary companion. Conclusions. 2MASS J1808-5104 is the brightest (V=11.9) metal-poor star of its category, and it could be studied further with even higher S/N spectroscopy to determine additional chemical abundances, thus providing important constraints to the early chemical evolution of our Galaxy.Comment: A&A Letter

Information Opacity, Credit Risk, and the Design of Loan Contracts for Private Firms

This paper examines the structure and cost of a large sample of bank loans to private firms. Compared to public firms, private firms are more informationally opaque and riskier. The results suggest that the design of a loan to a private firm is significantly different from that to a public firm. Bank loans to private firms are more likely to be by a sole lender, collateralized, and have sweep covenants than loans to public firms. The cost of borrowing is higher for a private firm than for a public firm, even after holding constant firm and loan characteristics