The effects of parental altruism on the governance of family‐managed firms

We draw on the economic, corporate governance, and family business literatures to explain why the effects of family on family firms makes this governance form theoretically distinct from those of public and private non‐family firms. Our thesis is that parental altruism, when combined with private ownership and owner‐management, influences the ability of the firm's owner‐manager to exercise self‐control, which, in turn, can expose some family firms to conflicts rooted in the agency threats of moral hazard, hold‐up, and adverse selection. We then discuss why some other family firms are able to minimize these dark side threats and thereby attain altruism's brighter side. Finally, we discuss how altruism's influence changes over time as ownership becomes dispersed among family members and across generations. Copyright © 2005 John Wiley & Sons, Ltd.     

Estrogen receptor mediated activity in bankside groundwater, with flood suspended particulate matter and floodplain soil - an approach combining tracer substance, bioassay and target analysis

Bankside groundwater is widely used as drinking water resource and, therefore, contamination has to be avoided. In the European Union groundwater protection is explicit subject to Water Framework Directive. While groundwater pollution may originate from different sources, this study investigated on impacts via flood events.Groundwater was sampled with increasing distance to the river Rhine near Karlsruhe, Germany. Samples were HPLC-MS-MS analyzed for the river contaminant carbamazepine to indicate river water infiltration, giving permanent presence in 250 m distance to the river (14-47 μg L⁻¹). Following a flood event, concentrations of about 16-20 μg L⁻¹ could also be detected in a distance of 750 m to the river. Furthermore, estrogenic activity as determined with the Yeast Estrogen Screen assay was determined to increase up to a 17β-ethinylestradiol equivalent concentration (E-EQ) = 2.9 ng L⁻¹ near the river, while activity was initially measured following the flood with up to E-EQ = 2.6 ng L⁻¹ in 750 m distance. Detections were delayed with increasing distance to the river indicating river water expansion into the aquifer.Flood suspended matter and floodplain soil were fractionated and analyzed for estrogenic activity in parallel giving up to 1.4 ng g⁻¹ and up to 0.7 ng g⁻¹, respectively. Target analysis focusing on known estrogenic active substances only explained <1% of measured activities.Nevertheless, river water infiltration was shown deep into bankside groundwater, thus, impacting groundwater quality. Therefore, flood events have to be in the focus when aiming for groundwater and drinking water protection as well as for implementation of Water Framework Directive.     

Conservation of the Toromiro Tree: Case Study in the Management of a Plant Extinct in the Wild

Abstract: We reviewed the history and conservation of Sophora toromiro , a species that has been extinct in the wild since 1960 but has survived as scattered individuals in botanic gardens and private collections. The short-term conservation of S. toromiro is dependent on the management of surviving ex situ stocks. This is being achieved through international collaboration by a working group established to coordinate the conservation management of the species. Molecular evidence indicates that the species retains greater genetic variability than expected. The greatest amount of genetic variability was located in specimens outside botanic garden collections. No unmodified natural habitat survives on Rapa Nui ( Easter Island); so opportunities to establish a viable wild population are limited. Evidence from past reintroductions indicates that the best short-term opportunity for the species is through conventional horticultural management in botanic gardens and traditional farm plots on Rapa Nui. Some extinct-in-the-wild taxa (sensu World Conservation Union 1994), such as the Toromiro, retain genetic variability, and appropriate reintroduction sites exist. These taxa represent valid priorities for conservation management.