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

Suppression of Subsynchronous Vibration in the SSME HPFTP

Space Shuttle Main Engine (SSME) High Pressure Fuel Turbopump (HPFTP) hot-fire dynamic data evaluation and rotordynamic analysis both confirm that two of the most significant turbopump attributes in determining susceptibility to subsynchronous vibration are impeller interstage seal configuration and rotor sideload resulting from turbine turnaround duct configuration and hot gas manifold. Recent hot-fire testing has provided promising indications that the incorporation of roughened damping seals at the impeller interstages may further increase the stability margin of this machine. A summary of the analysis which led to the conclusion that roughened seals would enhance the stability margin is presented along with a correlation of the analysis with recent test data

Electrode and Electrolyte Materials for Batteries

Disclosed are open-framework solids that possess superior ion-transport properties pertinent to the electrochemical performance of next-generation electrode materials for battery devices. Disclosed compounds including compositions and architectures relevant to electrical energy storage device applications have been developed through integrated solid-state and soft (solution) chemistry studies. The solids can adopt a general formula of A.sub.xM.sub.y(XO.sub.4).sub.z, where A=mono- or divalent electropositive cations (e.g., Li.sup.+), M--trivalent transition metal cations (e.g., Fe.sup.3+, Mn.sup.3+), and X.dbd.Si, P, As, or V. Also disclosed are oxo analogs of these materials having the general formulae A.sub.aM.sub.bO.sub.c(PO.sub.4).sub.d (a.gtoreq.b), and more specifically, A.sub.nM.sub.nO.sub.3x(PO.sub.4).sub.n-2x, where A=mono- or divalent electropositive cations (e.g., Li.sup.+), M is either Fe or Mn, and x is between 0 and n/2

Personality development across adolescence and young adulthood:The role of life transitions and self-concept clarity

Personality develops across the lifespan, but most development occurs in adolescence and young adulthood. Life transitions to new social roles may be important drivers of mean-level personality development. The present study examined mean-level personality development in adolescence and young adulthood, and the role of the transition to tertiary education and working life therein in a sample of Dutch young people that were followed across 14 years (N = 497, Age(W1) = 13.03 years). We explored whether young people's self-concept clarity moderated these associations. Our hypotheses and analytical plan were pre-registered. Findings from Latent Growth Models showed support for maturation in personality across adolescence and young adulthood, but not a maturity dip. Having the role of employee was associated with higher conscientiousness, but no associations were found of the transition to tertiary education and the transition to work with mean-level development of any of the personality traits. Self-concept clarity did not moderate the role of transitions in mean-level personality development. Our findings suggest that socialization effects may not explain associations between life transitions and personality development in adolescence and young adulthood

Ion impact induced Interatomic Coulombic Decay in neon and argon dimers

We investigate the contribution of Interatomic Coulombic Decay induced by ion impact in neon and argon dimers (Ne$_2$ and Ar$_2$) to the production of low energy electrons. Our experiments cover a broad range of perturbation strengths and reaction channels. We use 11.37 MeV/u S$^{14+}$, 0.125 MeV/u He$^{1+}$, 0.1625 MeV/u He$^{1+}$ and 0.150 MeV/u He$^{2+}$ as projectiles and study ionization, single and double electron transfer to the projectile as well as projectile electron loss processes. The application of a COLTRIMS reaction microscope enables us to retrieve the three-dimensional momentum vectors of the ion pairs of the fragmenting dimer into Ne$^{q+}$/Ne$^{1+}$ and Ar$^{q+}$/Ar$^{1+}$ (q = 1, 2, 3) in coincidence with at least one emitted electron

On Imbalance of Impulse Control and Sensation Seeking and Adolescent Risk:An Intra-individual Developmental Test of the Dual Systems and Maturational Imbalance Models

Heterogeneity in development of imbalance between impulse control and sensation seeking has not been studied until now. The present study scrutinized this heterogeneity and the link between imbalance and adolescent risk. Seven-wave data of 7,558 youth (50.71% males; age range from 12/13 until 24/25) were used. Three developmental trajectories were identified. The first trajectory, "sensation seeking to balanced sensation seeking", included participants with a higher level of sensation seeking than impulse control across all ages. The second trajectory, "moderate dominant control", included participants showing moderate and increasing impulse control relative to sensation seeking across all ages. The third trajectory, "strong late dominant control", included participants showing the highest level of impulse control which was about as strong as sensation seeking from early to middle adolescence and became substantially stronger from late adolescence to early adulthood. Although the systematic increase of impulse control in all subgroups is in line with both models, neither of these combined trajectories of control and sensation seeking was predicted by the Dual Systems Model or the Maturational Imbalance Model. Consistent with both models the "sensation seeking to balanced sensation seeking" trajectory showed the highest level of substance use. It can be concluded that, even though both theories adequately predict the link between imbalance and risk, neither the Dual Systems Model nor the Maturational Imbalance Model correctly predict the heterogeneity in development of imbalance between impulse control and sensation seeking

Socioeconomic hardship, uncertainty about the future, and adolescent mental wellbeing over a year during the COVID-19 pandemic

Socioeconomic vulnerabilities put adolescents at risk for mental wellbeing issues, also in times of a pandemic. In the present longitudinal online survey study, we explored changes in mental wellbeing (i.e., mood and life satisfaction) during the COVID-19 pandemic. Second, we examined how socioeconomic hardship in online home schooling predicted adolescents’ mental wellbeing 1 year later. Third, we tested whether this relation was mediated by feelings of uncertainty about the future. Fourth, we tested whether this relation was moderated (in terms of a protective factor) by self-efficacy. In total, 177 Dutch-speaking adolescents aged 10–18 years (Mage = 15.64, SDage = 1.72, 79% females) participated in all three 6-month separated waves (T1 = May 2020, T2 = November 2020, and T3 = May 2021). Mood results demonstrated that feelings of vigor decreased between T1 and T2, and feelings of tension and depression increased between T1, T2, and T3. Socioeconomic hardship in online home schooling in the early phase of the pandemic was negatively associated with both baseline mental wellbeing and 1 year later. Socioeconomic hardship at T1 predicted higher feelings of future uncertainty at T2, and higher levels of future uncertainty were associated with lower feelings of vigor, and higher feelings of tension and depression at T3. However, we found no evidence for mediation or moderation effects. In conclusion, the present findings illustrate the complexity of disentangling the adverse effects of socioeconomic hardship on adolescent mental wellbeing.</p

Better self-concept, better future choices?: Behavioral and neural changes after a naturalistic self-concept training program for adolescents

A large number of adolescents experience difficulty when choosing a suitable higher education program that matches their self-views. Stimulating self-concept development could help adolescents to increase their chances of finding a suitable major. We addressed this issue by examining the effects of a naturalistic self-concept training within a gap year context on behavioral and neural correlates of self-evaluations, as well as the long-term effects for future educational decision-making. In total, 38 adolescents/young adults (ages 16-24 years) participated in a 4-wave longitudinal study, with lab visits before, during, and after the training, including behavioral assessments and fMRI. During fMRI-scanning, they rated themselves on positive and negative traits in academic, (pro)social, and physical domains, and additionally filled out questionnaires related to self-esteem and self-concept clarity. Results showed that the positivity of domain-specific self-evaluations, self-esteem, and self-concept clarity increased during the training. Second, participants with lower medial PFC activity during self-evaluation before training showed larger self-esteem increases over the year. Moreover, mPFC activity increased after training for the evaluation of positive but not negative traits. Furthermore, individual differences in the rate of change (slope) in self-concept clarity and social self-evaluations positively predicted social adjustment to college and academic performance 6 months after training. Together, these findings suggest that self-concept can be modulated in late adolescents, with an important role of the medial PFC in relation to enhanced positive self-evaluations, and self-concept clarity as a predictor of future educational outcomes