U.S. mutual funds in the securities lending market extract information from stock borrowing. Active funds exploit this information, rebalancing away from borrowed stocks whose prices tend to decrease, whereas passive funds do not. Information spillovers within fund families are stronger when the lender is a passive fund and when the family is more cooperative (less competitive). Active funds trade more aggressively on stocks with more negative future returns, suggesting that they are able to identify informed borrowing. Finally, passive funds charge higher lending fees than active funds, consistent with short sellers paying a premium to lower recall risk.

La noétique de Pierre d'Auriol présente une théorie originale de l'intention, en partie fondée sur une relecture de la thèse des deux sujets de l'intellection prônée par Averroès. Auriol pose que l'intention possède deux sujets, mais varie dans le schéma qu'il produit en se confrontant aux difficultés qu'entraîne son affirmation. Cet article propose de tracer la genèse, les développements et les conséquences de cette théorie.

We document firms often determine CEO equity grants based on a predetermined dollar value (value-based equity grant) instead of on the number of shares (share-based grant). Value-based equity grants weaken the relationship between stock performance and CEO equity pay, lower CEO portfolio delta, and slow firms’ investment in R&D. We find that retention pressure is a key reason for the use of value-based equity pay, while governance could also matter. Overall, this paper alerts boards to the unintended consequences of pursuing a target pay level or pay structure because such practices can lead to value-based equity grants in CEO compensation.

Climate change is to a large extent a collective action problem, but many believe that individual action is also required. But what if no individual contribution to climate change is necessary nor sufficient to cause climate change-induced harms? This issue is known as the problem of inconsequentialism. It is particularly problematic for act consequentialism because the theory does not seem to judge such inconsequential contributions negatively. In this paper, we apply Henry Sidgwick's idea of esoteric morality to climate change and assess whether what we call a climate esoteric morality could help to deal with the problem of inconsequentialism from an act consequentialist perspective. Consequentialists ought then to promote what we call nonconsequentialist faux principles; exaggerate existing consequentialist principles that pro tanto forbid contributing to climate change whenever strictly consequentialist principles fail to do so; and refrain from criticising nonconsequentialist principles that forbid contributing to climate change.

Given the rising trend of politicizing formerly mundane topics, philosophers should guard against the concepts we develop being misunderstood or misconstrued to support arguments we never intended. To demonstrate my assertion, I develop the case study of Alex Kacelnik's notion of “biological rationality” (B-rationality) and show ways in which I believe it is vulnerable to misuse and ways I would suggest re-engineering it to be more resistant. I conclude by urging scholars — especially those working on normatively laden topics — to design our concepts such that they are less likely to become associated with harmful discourse or even oppressive policies.

Identifying feeding interactions in the fossil record remains a key challenge for paleoecologists. We report the rare occurrence of a conical, perforative bite mark in a cervical vertebra of an azhdarchid pterosaur, which we identified as a juvenile individual of Cryodrakon boreas Hone, Habib, and Therrien, 2019 from the Campanian Dinosaur Park Formation in Alberta, Canada. Based on comparative analysis of the dentition and ecomorphology of potential trace makers in the Dinosaur Park Formation, as well as the morphology of the trace, the most likely candidate is a crocodilian, although whether it was made as a result of scavenging or predatory behavior is unknown. Feeding interactions involving pterosaurs are rare globally, whereas crocodilian bite marks are not uncommon in Cretaceous terrestrial ecosystems. Given the opportunistic feeding style and known range of food items for both extant and extinct crocodilians, pterosaurs can be counted as a rare, but not surprising, component of at least some Cretaceous crocodilian diets.

Many of the most popular comedy performances are rich in non-standard linguistic features of English. This article addresses how dialect contributes to the humor in comedy performances, and how humorous dialect performance leads to the enregisterment of a dialect. It applies enregisterment theory to online clips of three live comedy performances by Stephen Buchanan (‘How to survive Glasgow’), Ali G (‘Harvard Commencement Speech 2004’) and Riaad Moosa (‘I have a weird accent’), and one clip from the British sitcom PhoneShop (2009–13). All four dialectal performances showcase the metalinguistic activity central to enregisterment processes. However, in each performance, the dialect also fulfils a dedicated function in the construction of humor, ranging from building audience rapport to the subversion of a (linguistic) status quo. It is argued that just as dialect can help performers to be funnier, humor can help a dialect to become more enregistered.

Amid Russia's illegal invasion of Ukraine, the human rights community has understandably focused its attention on human rights violations committed by the Russian state. This has, however, left the human rights implications of the martial law Ukraine has put in place for civilians largely unexamined. This essay highlights the ways Ukraine's travel restriction on “battle-aged” civilian men has harmed three overlapping groups—civilian men, the families of the men (including women and children), and trans and nonbinary individuals—and shows that the restriction runs counter to important principles in international human rights and humanitarian law. It then considers the ethical dilemmas faced by the international human rights community in addressing such harms, and the political psychology of rights advocacy that may explain the tendency to underplay this particular set of human rights issues. Nonetheless, the essay ultimately argues that advocates should hold actors—including and perhaps especially those with which they may sympathize—accountable to the human rights standards to which they have pledged.

Este trabajo aborda el estudio de la localidad arqueológica Cerro de los Gatos (Tierra del Fuego, Argentina), emplazada en un sector formado luego de la transgresión marina del Holoceno medio. Se exploran las transformaciones naturales y culturales del paisaje a nivel local y regional. Los aspectos presentados y evaluados aquí incluyen (1) tafonomía y evolución geomorfológica de loci diferentes, (2) disponibilidad de recursos y ecología isotópica, (3) tecnología lítica y ósea, (4) registro bioarqueológico humano y faunístico, y (5) cronología y reconstrucción paleoambiental del paisaje costero. Nuestra investigación sugiere que el registro de las ocupaciones humanas y el devenir de los paisajes naturales y culturales de la Bahía San Sebastián son el resultado combinado de la segregación espacial de las actividades (de subsistencia, tecnológicas, rituales) y sus trayectorias tafonómicas durante el Holoceno tardío.

This article examines the causes and geographical trajectories of the globalisation of vermouth, one of the most famous Made in Italy products in the world. Of all the fortified wines, vermouth stands out for its unique history. Originally a product of Piedmont consumed mainly by the aristocracy and the emerging bourgeoisie, vermouth became the subject of a growing export trade between the nineteenth and twentieth centuries, gaining credibility thanks to the prizes won at international exhibitions and the marketing strategies of the main companies in the sector (Martini & Rossi, Carpano, Gancia, Cinzano). Despite the commercial difficulties it experienced in the twentieth century as a result of protectionist measures, the effects of war, the heterogeneous policies applied to the alcoholic beverage industry and widespread imitation and counterfeiting, vermouth has managed to maintain an appeal that has made it an international icon and one of the most resilient products in the medium to long term. This is partly the result of a media representation that was capable of deeply influencing the collective imagination of consumers.

This article investigates changes in the right to social assistance – a means-tested cash support programme, regulated by the Social Services Act – for irregularised migrants over a period of four decades, 1982–2022. The article makes the case that austerity policies have hollowed out the right to support, with significant repercussions for those with irregularised residency status. In doing so, it draws on a range of empirical data to shed light on the dynamics of legal change over time and across various settings, identifying both continuities and critical turning points. The latter include shifts in national or local migration policies, and novel intersections between migration law and social law, epitomised by court judgments that have redrawn the lines of inclusion and exclusion in the sphere of rights holders. The article also highlights continuous issues concerning inconsistencies in the legal sources made used of by courts, neglect of children’s interests and needs, and an application of requirements for participation in work-related activities that disadvantage migrants and citizens alike. Ultimately, the article offers insights into how social rights can be preserved in the context of increasingly restrictive migration and social policies.

The article explores how the British Caribbean turned into an unlikely refuge for intercolonial escapees from slavery in the 1820s and 1830s. During this period, hundreds of enslaved men and women fled from French, Danish, and Dutch Caribbean colonies into British territories and entered in intense, and often contentious, encounters with low-ranking officials on the ground. The article examines how these individuals made use of legal ambiguities and loopholes in British slave trade abolition, thereby resetting, reinterpreting, and broadening the meaning and scope of freedom granted under it. The consequences of their actions were far-reaching and often uncontrollable, as they carved out a legal grey zone that created, in practice, a quasi-free-soil sanctuary in the heart of Britain’s planation complex. For more than a decade, local assemblies and officials, legal experts, British and foreign planters and their lobbies, foreign diplomats and British politicians grappled to close this grey zone. As it reincorporates enslaved fugitives in the history of state-sponsored antislavery, the article also shows how the case of these fugitives triggered a fierce debate about the essential parameters of imperial governance around 1800. This debate involved the renegotiation of the boundaries of freedom and slavery, and of subjecthood and (un)belonging. It gave rise to crucial questions related to imperial governance, including the scope of executive power and the challenge of coordinating imperial and colonial law as part of one coherent legal space. Because it involved other empires, the fugitives’ case also highlighted the connections between antislavery, sovereignty, and inter-state law.

Variation exists in our attitude and behaviour towards food and exercise, resulting in different degrees of health and ill health. Cultural and economic factors contribute to this, alongside personal choices, leading to a spectrum from normative eating, through disordered eating to the extremes of eating disorders (EDs). Understanding the intricate interplay between biological, psychological, and sociocultural factors to eating, exercise and body image is paramount to understand the current state regarding EDs and to deliver/develop multifaceted and individualised treatments. Significant service developments have occurred following the launch of the Irish Health Service Executive Model of Care for EDs in 2018. However, incomplete roll out and surge in EDs referrals post Covid-19 require generic child and adolescent mental health services (CAMHS) to be competent in assessment of EDs, and to keep abreast of clinical updates in order to offer effective treatment.

This review provides an evidenced based update on eating related difficulties, outlines a useful assessment framework, offers information on appropriate clinical management, and highlights exciting clinically relevant research developments.

The Irish Civil Legal Aid Act 1995 allows a broad approach to civil legal aid, but cultural legacies distort civil legal aid towards legal remedies on marital breakdown. The genesis of the symbiotic relationship between civil legal aid and family law is explored through in-depth examination of archival materials related to Airey v Ireland, while modern day qualitative interviews with Legal Aid Board workers investigate how entrenched this distortion towards marital breakdown remains and how it manifests. This Irish experience demonstrates the need to consider how legal aid is dependent on and informed by other substantive areas of law, and the potential for certain legal areas to dominate, distorting national legal aid provision and discourse.

En este trabajo presentamos la primera evidencia de cultivo de Triticeae (trigo y/o cebada) en una parcela arqueológica del sitio Pueblo Guayascate 1, emplazado en la actual provincia de Córdoba, centro de Argentina. La presencia de especies euroasiáticas tras la instauración del orden colonial ibérico en el actual territorio argentino ha sido referenciada por la documentación escrita de los siglos dieciséis y diecisiete y corroborada por los análisis de restos arqueológicos macro y microbotánicos. Guayascate fue parte de una encomienda —y luego de una merced de tierras— que le fue otorgada a los españoles a finales del siglo dieciséis. Esto implicó no sólo la presencia de mano de obra de los antiguos habitantes del lugar, sino también la ocupación de sus tierras, lo cual es signo de contacto y co-existencia entre españoles y nativos. Los análisis de microrrestos botánicos silicios al sedimento de una parcela en momentos de contacto y ocupación, evidencian el cultivo de trigo y/o cebada en asociación con maíz. Este hallazgo nos permite arriesgar algunas conjeturas sobre la producción y el consumo de alimentos de estos grupos, como también avanzar en el conocimiento sobre los cambios y continuidades en la cultura alimenticia acaecidos tras la instauración del sistema colonial.

We study who perceives gains and losses in political representation in Rwanda and Burundi and why. We do so in the run-up to and during violence, but also in its aftermath characterized by radically different institutional approaches to manage a similar ethnic divide in both countries. We rely on quantitative and qualitative analyses of over 700 coded life histories covering the period 1985–2015. We find convergence in perceived political representation across ethnic groups in Rwanda, but divergence in Burundi, and argue how this relates to the postwar institutional remaking, legitimization strategies, and their impact on descriptive and substantive representation.

Order flow segmentation prevents direct interactions between U.S. retail and institutional investors. Using the imbalance in observable internalized retail trades, we show wholesalers use retail flow to provide liquidity to institutional investors, especially when liquidity is scarce. Our institutional liquidity cost ($ ILC $) measures average absolute retail trade imbalances, positing that institutions holding stocks with greater such averages more often resort to the expensive wholesaler-provided liquidity. $ ILC $ is correlated with expected institutional price impacts. Unlike existing illiquidity measures, $ ILC $ has economically meaningful relations with institutional holding horizons and yields annualized liquidity premia of 2.7%–3.2% post-2010, even after excluding microcap stocks.

In this essay, we bridge the gap between two understandings of the power of the European Union (EU): as a normative actor, guided by ethical principles and empowered by the internal market, and as a geopolitical actor, building its own military capabilities and ready to defend its interests through deterrence and defense. In view of Russia's invasion of Ukraine, we challenge the established “values vs. interests” dichotomy and argue that defending liberal democratic values is an essential foundation of the EU's existing and potential geopolitical power. We show how, over the last decade, opting for short-term expediency and capitulating to a kind of realpolitik “regime indifference” in dealings with authoritarian regimes at home and abroad have severely weakened the EU and also diminished Ukraine's capacities to defend itself as it fights for these shared values on the battlefield. We argue that it is in the EU's strategic interest to strengthen its commitment to values-based foreign and defense policies, revive a meritocratic and credible enlargement process, and work with the United States to provide more effective military assistance to Ukraine in its fight for liberal democratic values and a rules-based European security order.