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This research examines the bidirectional relationship between Environmental, Social and Governance (ESG) voluntary disclosure engagement and financial performance of a panel of banks extracted from the Gulf Cooperation Council (GCC) banking industry, covering a period of 11 years (2007–2017). We find that GCC banks, and in particular Islamic banks, voluntarily disclose low level of information related to ESG activities. Using system GMM methodology, we provide evidence that ESG disclosure adversely affects bank performance, regardless of the bank performance measure used. Thus spending on ESG turns out to be costly for GCC banks, a result that is consistent with the agency problem, where managers are likely to reduce long-term expenditures related to ESG actions in order to boost short-term profits. As managers' compensations often relate to short-term financial performance, managers tend to reduce their spending on ESG activities. Furthermore, contrary to previous research, our results indicate that the relationship between ESG and financial performance is bidirectional and dynamic. We also find evidence that ESG disclosure positively affects performance only for well-diversified banks. Finally, although conventional banks disclose significantly more information related to ESG activities, we do not find any significant differences between the two types of banks in the relationship between ESG disclosure and performance. Our suggestion is that these results are consistent with what we call “clientele” and “gravitation” effects, where a customer tends to choose to deal with the bank that reflects his religious beliefs (gravitation effect) and with the bank that provides him with the best services (clientele effect) regardless of its ESG disclosure.

We stated at the outset that it is easier to indicate what spirituality is not than to find any satisfactory way of putting into language what it is, but we must now turn to the more difficult part of the task. Under this head we can give only passing notice to the metaphysical problem of what one must believe about the character of the universe in order to find a place in it for a spiritual interpretation of life. It is necessary to believe at least that man is more than a part of the universe as interpreted by science. Personally, I think it can be shown that it is shown by a really critical development of science itself, that we are justified in believing in a spiritual reality underlying natural processes, even outside of our own consciousness. Cause and effect do not tell us all there is to say about natural changes. Science itself, when it is ruthlessly critical of itself and fully candid, does not pretend to tell what is going on in ultimate reality, “behind the scenes” of visible change. It is only a formula for enabling us to predict what will happen under given conditions, met with in nature or produced in laboratory or factory in order to some purpose of our own. Whether there are “really” existing, corpuscles, gravitation, electricity, and the like in physics and chemistry and determiners or “genes” in biology, or if they are what they are like, is a question which the truly critical and honest scientist admits to be quite beyond his province. But the masterly address of Mr. Bridges at an earlier point in this program makes it doubly superfluous for me to go into such questions. For that matter, my task is limited to the definition of terms and the pointing out of problems and dangers.

In his 1931 unpublished “Surplus Product” manuscript Sraffa used an open–closed distinction to explain the relationship between the “economic field” and distribution. This chapter examines Sraffa’s thinking in this regard, and shows how it allowed him to resolve a problem he encountered in his early objectivist representation of commodity production in economies with a surplus. The chapter argues that Sraffa adopted a view different from Bertalanffy’s general systems theory understanding of open and closed systems developed around the same time in such a way as to address the specific nature of economics. The chapter compares two related interpretations of Sraffa’s thinking in regard to the open–closed distinction developed by Arena and Ginzburg, and also addresses how Sraffa’s thinking regarding open and closed systems compares with similar thinking of Wittgenstein and Gramsci. The concluding discussion contrasts Sraffa’s causal reasoning with mainstream economics’ ceteris paribus method of causal reasoning.

Three successful uprisings in mid-2003 – in Georgia, Ukraine and Kyrgyzstan – introduced the notion of the ‘colour revolution’, usually understood as an organised unarmed public uprising aimed at replacing a discredited regime with a more democratic government. Careful examination shows that, besides these cases and the overthrow of the Milosevic regime in Yugoslavia in 2000, eight more cases could be added to the list of colour revolutions, making it possible to investigate characteristic features of the phenomenon and to evaluate the trend of failure in attempts at revolution since 2005. In a deviation from classical models, economic grievances are found to have little bearing on public mobilisation for revolutionary causes; external influences, on the other hand, have considerable impact. In the second half of the 2000s, Russia's assertive counter-revolutionary stance prevailed over the United States’ declining capacity and the diminishing gravitation of the EU, so all revolutionary attempts failed, including the April 2009 unrest in Chisinau, Moldova. Analysis of such characteristics of ‘colour revolutions’ as close correlation with elections, non-violent strategies of opposition and implicit connection with ‘frozen conflicts’ despite the absence of any ethno-nationalist agenda makes it possible to arrive at a more precise definition of the phenomenon and to identify several potential revolutionary situations. The economic recession that began in late 2008 will inevitably transform the social context of ‘colour revolutions’, which might become less controllable and more violent.

Drawing on the theoretical system known as pure sociology, this chapter presents a theory of the transition from ordinary citizen to dedicated terrorist.

We support our argument with data drawn from the diverse literature on terrorist affiliation, with particular emphasis on qualitative investigations into the background of individual terrorists.

The transition from citizen to terrorist represents a dramatic increase in commitment to a moral cause, or partisanship. Such commitment is a product of a specific social geometry: social closeness to a powerful organization and social distance from the enemy. That geometry is triggered by a movement of social time entailing loss and proceeds via gravitational attraction. If uninterrupted, the process reverses social time, resulting in a highly partisan geometry that calls forth risky sacrifice for the cause and severe violence toward enemy civilians.

Our theory builds upon network explanations of the transition to terrorism but goes beyond them in three ways: (1) it provides an explanation of the initial drift into terrorist networks; (2) it does not invoke psychology, purposes or other subjective mental states of the actors; and (3) it situates the transition to terrorism within a general theory of conflict.

This chapter brings the ancient dichotomy between vita activa and vita contemplativa – a traditional separation between lay life and religious life – to the realm of different states of mind that form the experience of self in contemporary times. Instead of seeing the above dichotomy necessarily within the secular-religious spectrum, I explore it as two pulls within self and, in particular, within a teacher's life. One pull concerns the gravity of day-to-day that William James described as a habitual, half-awake state, very much shaped by external conditions, such as schooling systems in contemporary times. In this half-awake state, self experiences a lack of agency, and is defined by external expectations and standards. The other pull is the elevation toward what Viktor Frankl called meaning and Paul Tillich viewed as ultimate concerns. This pull need not necessarily be conceptualized as religious. It can be secular and/or grounded in agnosticism and merely reflect a sincere wish to lead an agentic, authentic, and meaningful life. This pull can appear in the most prosaic situations within a teacher's life, calling her/him to resist the gravity of half-asleep functioning and survival. Self is, essentially, a site of struggle and reconciliation between these two pulls, experienced as fluctuating states of the embodied mind. This chapter comprises mostly of an existential-phenomenological description of “what it is like to be a self” in the world, exemplified in the case of being a teacher in contemporary times. After describing the two pulls, I will make some suggestions as to the need for teacher education that explicitly caters to the contemplative self through contemplative practices.

The article studies the problem of the impact of non-tariff barriers on mutual trade in goods between the EAEU member states. This problem is considered using the example of assessing the impact of non-tariff regulation measures of Russia, Kazakhstan and Kyrgyzstan on imports of goods from other EAEU member states. The conducted research is based on domestic and foreign scientific works that use barrier components to build a gravitational model of foreign trade. To study the impact of non-tariff regulatory measures of Russia, Kazakhstan and Kyrgyzstan on import commodity flow from other EAEU member states, two time periods are considered – the period of 2010–2014 and the period 2017–2019. In the context of the periods under consideration, a gravitational model of foreign trade is constructed. As a result of building a model within the framework of the study, it was revealed that during the period of the EAEU existence (2017–2019), non-tariff measures of foreign trade regulation had a more significant and negative impact on imports of the studied countries than before the formation of the EAEU (2010–2014). The latter indicates the relevance and necessity of further research of this problem.