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.     

Communicating the risk from radon.

A prominent television station developed a special series of newscasts and public service announcements about radon. This was combined with their advertising of the availability of reduced-price radon test kits in a local supermarket chain. The large number of test kits sold was a success from a marketing perspective, but not from a public health perspective--especially because of the very small share of high readings that were mitigated. In contrast, a study of housing sales showed a much higher testing rate and corresponding mitigation when risk communication accompanied the housing transaction, rather than being directed toward the general public. This paper examines the relative effectiveness of these alternative approaches to radon risk communication, emphasizing the implications for developing and implementing radon programs.     

Concentration of LAS and boron in the Itter. Comparison of measured data with results obtained by simulation with the GREAT-ER software

The GREAT-ER software was used to calculate linear alkylbenzene sulphonate [LAS] and boron concentrations in the Itter stream in North Rhine-Westfalia, Germany. The aim was to investigate the predictive strength of this newly developed tool and to compare its results to measured data. Substance-specific input data which were used in this scenario were partly generic (e.g. LAS and sodium perborate tetrahydrate consumption figures for Germany) and partly (site-)specific data (e.g. half-life time for LAS elimination). The comparison with the measured data reveals that the model predictions for LAS and boron are correct at least within a factor of two, only if generic German consumption data is applied. By using refined input data, the accuracy can be increased further.