Shareholding Cascades: The Separation of Ownership and Control in Belgium

This paper analyses the control of Belgian listed companies. The analysis reveals that control of listed companies in Belgium is highly concentrated. Business groups, holding companies, and voting pacts, play an important role in bringing about this concentration. The main characteristics of the Belgian corporate ownership and equity market can be summarised as follows : (i) few - merely 140 - Belgian companies are listed on the Brussels stock exchange, (ii) there is a high degree of ownership concentration with an average largest direct shareholding of 45%, (iii)holding companies and families, and to a lesser extent industrial companies, are the main investor categories whose share stakes are concentrated into powerful control blocks through business group structures and voting pacts, (iv) control is levered by pyramidal and complex ownership structures and (v) there is a market for share stakes.Ownership;control;corporate governance

Localization of an experimental ecological unit in the Maradi region of Nigeria

A detailed topographical and geomorphological description of a specific ecological unit in the Maradi region of the Sahel in the Niger Republic is presented. Sandy structures are classified into active dunes and covered dunes and an extensives vocabulary is developed to describe sub-categories. The descriptions are based on meteorological data (anemometric and rainfall) from local weather stations, ground observations, aerial photographs and LANDSAT pictures. The problem of dune reactivation and desertification is discussed both from the standpoint of causes and possible counter measures

Methodological issues in research on learner-computer interactions in CALL

CALL materials may provide a mechanism for implementing theoretically-ideal conditions for second language acquisition and for conducting empirical research to investigate effects of these conditions. This paper explores methodological issues involved in realizing this potential by focusing on investigation of the noticing hypothesis (Schmidt, 1990) in CALL reading materials. It reviews the problem of assessing noticing in classroom and experimental settings through a) conditions for noticing, b) retrospective assessment, and c) concurrent assessment. Concurrent assessment, which provides the most direct measure of noticing, is illustrated through CALL materials that gather data on noticing, test retention of word meaning, and calculate the correlation between noticed and remembered words. Methodological issues of implementation and validation are discussed

Inheritance of the Sex-Determining Factor in the Absence of a Complete Y Chromosome in 46,XX Human Males

Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/71879/1/j.1749-6632.1987.tb25088.x.pd

Rapid method for determination of antimicrobial susceptibilities pattern of urinary bacteria

Method determines bacterial sensitivity to antimicrobial agents by measuring level of adenosine triphosphate remaining in the bacteria. Light emitted during reaction of sample with a mixture of luciferase and luciferin is measured

Backbone of complex networks of corporations: The flow of control

We present a methodology to extract the backbone of complex networks based on the weight and direction of links, as well as on nontopological properties of nodes. We show how the methodology can be applied in general to networks in which mass or energy is flowing along the links. In particular, the procedure enables us to address important questions in economics, namely, how control and wealth are structured and concentrated across national markets. We report on the first cross-country investigation of ownership networks, focusing on the stock markets of 48 countries around the world. On the one hand, our analysis confirms results expected on the basis of the literature on corporate control, namely, that in Anglo-Saxon countries control tends to be dispersed among numerous shareholders. On the other hand, it also reveals that in the same countries, control is found to be highly concentrated at the global level, namely, lying in the hands of very few important shareholders. Interestingly, the exact opposite is observed for European countries. These results have previously not been reported as they are not observable without the kind of network analysis developed here.Comment: 24 pages, 12 figures, 2nd version (text made more concise and readable, results unchanged