Plant Manage

ABSTRACT We examined the impacts of mechanical shredding (i.e., shredding plants and leaving biomass in the system) of the water chestnut ( Trapa natans ) on water quality and nutrient mobilization in a control and experimental site in Lake Champlain (Vermont-New York). A 1-ha plot was mechanically shredded within 1 h on 26 July, 1999. Broken plant material was initially concentrated on the lake surface of the experimental station after shredding, and was noticeable on the lake surface for 19 d. Over a two week period after shredding, concentrations of total nitrogen (N) and phosphorus (P), and soluble reactive P increased in the lower water column of the experimental station, coinciding with decomposition of water chestnut. Sediments in the control and experimental stations exhibited very low rates of N and P release and could not account for increases in nutrient concentrations in the water column after mechanical shredding. Shredded plant material deployed in mesh bags at the experimental station lost ~ 70% of their total mass, and 42% N and 70% P within 14 d, indicating substantial nutrient mobilization via autolysis and decomposition. Chlorophyll a concentrations increased to 35 g/L at the experimental station on day 7 after shredding, compared to a concentration of 4 g/L at the control station, suggesting uptake of mobilized nutrients by phytoplankton. Disruption of the surface canopy of water chestnut by shredding was associated with marked increases in turbidity and dissolved oxygen, suggesting increased mixing at the experimental site

Quantifying the importance of functional traits for primary production in aquatic plant communities

1. Aquatic plant meadows are important coastal habitats that sustain many ecosystem functions such as primary production and carbon sequestration. Currently, there is a knowledge gap in understanding which plant functional traits, for example, leaf size or plant height underlie primary production in aquatic plant communities. 2. To study how plant traits are related to primary production, we conducted a field survey in the Baltic Sea, Finland, which is characterized by high plant species and functional diversity. Thirty sites along an exposure gradient were sampled (150 plots), and nine plant morphological and chemical traits measured. The aim was to discern how community-weighted mean traits affect community production and whether this relationship changes along an environmental gradient using structural equation modelling (SEM). 3. Plant height had a direct positive effect on production along an exposure gradient (r = 0.33) and indirect effects through two leaf chemical traits, leaf δ15N and leaf δ13C (r = 0.24 and 0.18, respectively) resulting in a total effect of 0.28. In plant communities experiencing varying exposure, traits such as root N concentration and leaf δ15N had positive and negative effects on production, respectively. 4. Synthesis. Our results demonstrate that the relationship between aquatic plant functional traits and community production is variable and changes over environmental gradients. Plant height generally has a positive effect on community production along an exposure gradient, while the link between other traits and production changes in plant communities experiencing varying degrees of exposure. Thus, the underlying biological mechanisms influencing production differ in plant communities, emphasizing the need to resolve variability and its drivers in real-world communities. Importantly, functionally diverse plant communities sustain ecosystem functioning differently andPeer reviewe

Institutional investors and corporate governance

We provide a comprehensive overview of the role of institutional investors in corporate governance with three main components. First, we establish new stylized facts documenting the evolution and importance of institutional ownership. Second, we provide a detailed characterization of key aspects of the legal and regulatory setting within which institutional investors govern portfolio firms. Third, we synthesize the evolving response of the recent theoretical and empirical academic literature in finance to the emergence of institutional investors in corporate governance. We highlight how the defining aspect of institutional investors – the fact that they are financial intermediaries – differentiates them in their governance role from standard principal blockholders. Further, not all institutional investors are identical, and we pay close attention to heterogeneity amongst institutional investors as blockholders