Evaluating competition, interactions and trait differences between vulnerable marine ecosystem taxa in climate changing ocean: laboratory studies on flow and feeding responses by gorgonians (Condor seamount) and cold-water scleractinian corals, sponges and bivalves (Norwegian shelf).

Cold-water corals reefs, gardens and sponge grounds are vulnerable marine ecosystems (VMEs) as defined by UN resolution 61/105. These VMEs are protected from destructive fishing practices and are recognised due to the biodiversity they support. However, despite such international policy imperatives, we lack even basic understanding of ecological interactions between VME indicator taxa. For example, we do not understand how co-occurring VME indicator species interact or compete with each other under different conditions, such as water flow and food concentrations, both of which are likely to change in direct response to climate change. This thesis aimed to evaluate competition and trait differences underlying VME indicator species. Taxa co-occurring in 2 different VMEs were tested under laboratory conditions. From the Condor Seamount (Azores archipelago) the octocorals Viminella flagellum and Dentomuricea meteor, were compared according to two traits: skeletal composition and sclerite shape and size. Viminella flagellum and D. meteor were also tested for competition interactions under 2 different flow regimes. From the Norwegian continental shelf, feeding efficiency, particle size and type preference under varying flow and natural food conditions was measured for species with different feeding strategies/traits (active and passive suspension feeders). The tested species include a scleractinian coral (Lophelia pertusa), demosponges (Geodia barretti, Phakellia ventilabrum and Stryphnus sp.) and a bivalve (Acesta excavata). The different traits found in co-occurring species can represent different strategies permitting them to exploit and withstand the variable a-biotic and food supply conditions, meaning they can niche partition. Differences in feeding efficiency are more evident when comparing across taxa than individual species, reinforcing that trait differences are crucial and should be taken into consideration. Trends suggest that different species have preferences for different subsets of the natural occurring seston, which could be mediated by the different traits. Understanding the preferences of different species, and relating them to the predicted changes in food composition availability and flow changes will help refine future species distribution models and ecosystem functioning of VMEs in a changing ocean. Evidence highlights how exclusive competition could occur under specific conditions between the study species. The findings suggest other interactions besides competition should be taken into account when studying coexisting species, for example facilitating cascades and nutrient recycling. Species interactions should be taken into account when performing species distribution models in order to better predict the effect of changing conditions in ecosystem functioning

Corporate law and governance

This chapter surveys the theoretical and empirical research on the main mechanisms of corporate law and governance, discusses the main legal and regulatory institutions in different countries, and examines the comparative governance literature. Corporate governance is concerned with the reconciliation of conflicts of interest between various corporate claimholders and the resolution of collective action problems among dispersed investors. A fundamental dilemma of corporate governance emerges from this overview: large shareholder intervention needs to be regulated to guarantee better small investor protection; but this may increase managerial discretion and scope for abuse. Alternative methods of limiting abuse have yet to be proven effective

A Cartel Analysis of the German Labor Institutions and its Implications for Labor Market Reforms

In this paper we apply standard cartel theory to identify the major institutional stabilizers of Germany?s area tariff system of collective bargaining between a single industry union and the industry?s employers association. Our cartel analysis allows us to demonstrate that recent labor policy reforms that intend to make labor markets more ?flexible? further serve to stabilize the labor cartel while other pro-competitive proposals have failed. We argue that the pro-competitive recommendations failed exactly because of their destabilizing effects on insiders? incentives to stay in the labor cartel. We propose regulatory measures for injecting competition into Germany?s labor markets that focus on the creation of new options for firms and workers outside the existing area tariff system; in particular, by liberalizing existing barriers for the establishment of a fully tariff-enabled union. Such an endeavor must go hand in hand with the institutionalization of a competition policy framework for labor market disputes as any destabilizing policy inevitably provokes counter measures of the incumbent labor cartel so as to protect their dominance vis-?-vis outsider competition

Soziale Sicherung im Lebenslauf – Finanzielle Aspekte in längerfristiger Perspektive am Beispiel der Alterssicherung in Deutschland

"Zunehmende Risiken im Lebenslauf und die Forderung nach vermehrter individueller Flexibilität stellen eine Herausforderung für die adäquate Gestaltung sozialer Sicherung dar, z.B. für die Alterssicherung. In diesem Beitrag wird dargestellt, wie 'soziale Risiken' in öffentlichen und (subventionierten) privaten Alterssicherungssystemen (einschließlich betrieblicher Einrichtungen) berücksichtigt werden. Dies erfolgt am Beispiel der Situation in Deutschland. Ein solcher Vergleich unterschiedlicher Sicherungssysteme wird um so wichtiger, da in vielen Ländern die Rolle des Staates als 'Produzent' sozialer Leistungen reduziert wird. Ausgehend von Zielen und Konzeptionen zur Gestaltung sozialer Sicherung im Alter stehen im Zentrum dieses Beitrags Auswirkungen verschiedener Typen öffentlicher und privater Alterssicherungssysteme auf die Einkommenslage im Alter bei Eintritt bestimmter sozialer Risiken, wie Einkommensverlust durch Arbeitslosigkeit, Krankheit, Pflege von Kindern. Dabei wird der Einsatz unterschiedlicher Instrumente - unter ihnen der von Zeitkonten - betrachtet. Schließlich wird die Verlagerung von Risiken und Verantwortung im Falle zumindest partieller Privatisierung sozialer Sicherung diskutiert - Verlagerungen vom Staat auf private Haushalte, von Arbeitgebern auf Arbeitnehmer. Für den Fall, dass private Sicherungssysteme obligatorisch werden, ist zu erwarten, dass sie mit zu einem Instrument der staatlichen Sozialpolitik werden und manche der sozialen Risiken zu berücksichtigen haben, wie dies bislang in staatlichen Systemen erfolgte." (Autorenreferat)"Growing insecurity over the life course and an increasing demand for more individual flexibility are a challenge for adequate social security, for example in old age. This paper outlines how 'social risks' are taken into account in public as well as (subsidised) private pension schemes (including occupational schemes), such as those in Germany. This becomes more important because in many countries the role of the state as provider of social security benefits is being scaled down. Starting from objectives and concepts for designing social security for old age, the major focus of the paper is the effects of different types of public as well as private pension schemes on income in old age in relation to different social risks, such as loss of income in case of unemployment, illness, caring for children and by using different instruments (among other things, time saving accounts). Finally, the shift of risks and responsibility in the (at least partial) privatisation of social security - from state to private households, from employers to employees - is discussed. If private schemes become mandatory, they may become an instrument of (public) social policy and have to cover some of the social risks that public schemes have in the past." (author's abstract