Asset manager capitalism? The influence of institutional investors on corporate governance and the varieties of capitalism

This thesis considers the link between changes in the shareholder ownership structure and the governance of firms. Making use of extensive interview data it assesses the governance activities of asset managers in Germany, the UK and the US. The thesis makes use of the varieties of capitalism framework to assess the extent of convergence or divergence between the respective national varieties. Since the largest asset managers are US firms, the institutionalisation of share ownership could be expected to lead to the Americanisation of global corporate governance. However, despite a convergence in form, no corresponding convergence in function is observed. Instead a considerable continuity in the heterogeneity of national models of capitalism is noted. This is due to national differences in the relative resourcing of active and passive asset managers, of proxy advisors and corporates as well as the approach followed by the respective governments. In the US, where index funds have a comparatively larger market share, the domestic regulatory approach results in a bigger potential for conflict between shareholders and corporate managers. In the UK and Germany, on the other hand, the relationship between asset managers and corporates is shown to be less antagonistic. This is due to the greater relevance of proxy advisors, the smaller market share of US index funds, the stewardship approach of domestic asset managers and because of the regulatory approach pursued by the governments in the UK and Germany, which seeks to balance expanded shareholder influence with greater consideration of stakeholder concerns

Effects of Label-Dose Permethrin Administration on Reproductive Function and Embryo Quality on Superovulated Beef Heifers

Commercial pyrethroid pour-ons are commonly appliedin cow-calf operations to eliminate the potential for insectborne diseases and to improve productivity. However,recent literature has focused on potential negativereproductive effects in the bull after exposure to pyrethroids.While the female bovine has been primarily neglected fromthe debated pyrethroid concern on reproduction, literature inmice and rats have reported potential endocrine disruptionof sex steroids resulting from pyrethroid exposure, withpotential detrimental effects on female fertility. Theobjective was to study the effects of a commercialpyrethroid-based pour-on product, permethrin, onreproductive performance in superovulated beef heifers byassessing steroid biosynthesis and embryo quality. It washypothesized that exposure to pyrethroid pour-on at labeldose would cause minimal effects on embryoquantity/quality and steroidogenesis in the female bovine.Results from this study revealed pyrethroid-treated heifershad a tendency for reduced progesterone, but embryoquantity and quality were not affected compared to control

Lattice Boltzmann simulation of liquid water transport in gas diffusion layers of proton exchange membrane fuel cells: Parametric studies on capillary hysteresis

Water management is crucial for reliable operation of Polymer Electrolyte Membrane Fuel Cells (PEMFC). Here, the gas diffusion layer (GDL) plays an essential role as it has to ensure efficient water removal from and oxygen transport to the catalyst layer. In this study water transport through porous carbon felt GDLs was simulated using a 3D Color-Gradient Lattice Boltzmann model. Simulations were carried out on microstructures of plain and impregnated fiber substrates of a Freudenberg H14. The GDL microstructures were reconstructed from high-resolution X-ray micro-computed tomography ($\mu$-CT). For the distinction of carbon fibers and polytetrafluoroethylene (PTFE) in the binarized microstructures an in-house algorithm was developed. The additive was specified heterogeneously in the GDL through-plane direction employing a PTFE loading profile as derived based on $\mu$-CT image data. In the in-plane direction the additive was furthermore defined in a realistic fashion near carbon fiber intersections. Prior to parametric studies on capillary behavior a sophisticated modeling approach for semipermeable membranes had to be developed to account for experimental boundary conditions. Capillary hysteresis was then investigated by simulation of intrusion and drainage curves and subsequent comparison to testbench data

Environment mapping enabling safety and usability of an electronic tow bar

Cost efficiency and productivity as well as drivers comfort and usability are significant innovation drivers for agricultural machinery. The proposed electronic tow bar system for tillage processes consists of two vehicles, coupled by wireless data connection. An unmanned slave tractor follows a master tractor with a position dependent lateral and longitudinal offset. Operating two tractors with one driver only, increases productivity and improves the capacity load due to higher flexibility in fleet management. In return, the usability and safety of the tow bar becomes a major concern, which is addressed by an elaborate safety concept enabled by sensor based obstacle detection and mapping. Web-based geo-information, are used to support proactive path planning.This paper presents a solution to achieve both, safety and usability, for a complex platoon system. The interaction of the operator with the local and global obstacle map is designed to meet the requirements of both target functions

Effects of Injectable Trace Mineral Supplementation on Embryo Development and Quality in Superovulated Dairy Heifers—First Year Progress Report

Injectable supplementation of trace minerals is often used to combat the malabsorption of microminerals due to antagonists in feed and water. Previous research has shown that Multimin90, a commercial supplement containing copper, zinc, manganese, and selenium, has been shown to have a positive impact on reproductive efficiency and pregnancy rates in beef cattle. The objective of this study was to determine the effects of supplementation of MultiMin90 on embryo quality in superovulated heifers. This report includes the preliminary results of the first year of an ongoing study. Though there was no difference in overall embryo quality, supplementation of MultiMin90 tended to reduce the proportion of nonfertilized embryos per flush and resulted in one more embryo per flush when compared to a saline-treated control

Climatic Factors Affecting Quantity and Quality Grade of in vivo Produced Bovine Embryos

The present study investigated the effects of climatic variables on the quality grade and quantity of in vivo produced bovine embryos. High temperature during the early embryonic development stage, one day after AI to flush, tended (P \u3c 0.10) to decrease the quality of embryos recovered. High Temperature-Humidity Index during the early antral follicular stage, 40 to 45 days prior to ovulation, tended to improve the total number of freezable and transferrable embryos recovered per flush (P \u3c 0.10). Increased wind speed at the early antral follicular phase was associated with a significant increase of the percentage of quality grade 1 embryos recovered (P \u3c 0.05). This implies that wind has a significant effect in the quality grade and quantity of in vivo produced bovine embryos that is rarely taken into consideration

Elektronische Deichsel für landwirtschaftliche Arbeitsmaschinen mit Umfeldsensorik und zusätzlichen Geoinformationen

Während die Leistungsnachfrage landwirtschaftlicher Unternehmen bei Großtraktoren und selbstfahrenden Landmaschinen stetig wächst, erreichen Landmaschinenhersteller bezüglich Fahrzeuggröße und -masse insbesondere für den Straßenverkehr zunehmend kritische Werte. Das Konzept der elektronischen Deichsel hingegen ermöglicht durch den Einsatz fahrerloser Maschinen annähernd eine Verdopplung der Flächenleistung ohne zusätzlichen Personalaufwand und steigert somit Produktivität und Wirtschaftlichkeit, unter Beibehaltung gängiger Maschinen/Traktoren

Elektronische Deichsel für landwirtschaftliche Arbeitsmaschinen - Folgsame Traktoren

Die Teilautomatisierung eines Arbeitsgespanns aus Traktoren war Ziel eines von 2007 bis 2010 durchgeführten Forschungsprojekts am Karlsruher Institut für Technologie. Mit definiertem Versatz in Längs-und Querrichtung folgt ein unbemannter der Spur eines bemannten Traktors und führt dabei den gleichen Arbeitsprozess durch - diese Idee wurde am Lehrstuhl für Mobile Arbeitsmaschinen (Mobima) gemeinsam mit den Projektpartnern Geo-konzept und AGCO Fendt in ein System umgesetzt, mit dem die Produktivität moderner landwirtschaftlicher Unternehmen weiter gesteigert werden soll. Verbunden per Datenfunk und ausgestattet mit hochgenauen GPS-Empfängern konnten bereits die im Projekt ausgerüsteten Prototypen auf dem Acker die Arbeit aufnehmen