Ownership concentration and product innovation in Chinese private SMEs

Product innovation is extremely important to the growth, success, and ultimate survival of firms. Although its unique features in small and medium-sized enterprises (SMEs) have gained growing attention in the literature, there is limited knowledge as to how ownership concentration moderates the relationship between product innovation and its determinants. Based upon insights from agency and institutional theories, we examine the moderating effects of ownership concentration on the relationship between product innovation and its key determinants in Chinese SMEs, utilizing a large dataset of 43,728 Chinese firms over the period 2005-2006. We focus on examining the differences between single-owner SMEs, where there is dominant control of one family member, and multiple-owner SMEs, where principal-agent conflicts and principal-principal conflicts are more likely to occur. Our findings indicate that single-owned firms tend to convert research and development into product innovation more efficiently than firms with multiple owners, who are typically better at utilizing external sources of knowledge and human capital.

Combination of calcium and magnesium ions prevents substrate inhibition and promotes biomass and lipid production in thraustochytrids under higher glycerol concentration

Effect of calcium and magnesium ions was studied in detail in batch mode in shake flask cultures of two fast growing strains of thraustochytrids (Aurantiochytrium sp. DBTIOC-18 and Schizochytrium sp. DBTIOC-1) for biomass and lipid production. These strains were previously isolated from Indian marine biodiversity. Screening of these two strains on different carbon and nitrogen sources revealed the suitability of glycerol over glucose and sodium nitrate over yeast extract for the cultivation of these strains. The presence of higher concentration of glycerol in the medium inhibited the glycerol utilization by the cell thus resulting in lower biomass and lipid production in both the strains. Supplementing media with calcium and magnesium ions promoted glycerol utilization thus resulted in a substantial rise in volumetric production of biomass (55.12 g L-1, 48.12 g L-1), fatty acid for biodiesel (27.14 g L-1, 22.15 g L-1) and docosahexaenoic acid (14.57 g L-1, 10.12 g L-1) with both strains Aurantiochytrium sp. DBTIOC-18 and Schizochytrium sp. DBTIOC-1, respectively. Growth profile study of these two strains showed further improvement in production of biomass, fatty acid for biodiesel and docosahexaenoic acid when cultures were extended up to 7 days. Finding of this work underlines the importance of calcium and magnesium salts in designing new fermentation strategies to prevent substrate inhibition and achieve high cell density culture under high nutrient concentration especially carbon sources.

A new industry concentration index

We propose and analyse a new concentration index alternative to the Herfindahl-Hirschman Index (HHI). This new index emphasises the concept of competitive balance. It is designed to preserve the convexity property of the HHI when a merger involves one of the m largest firms, but to decrease and thus to indicate an increase in competition when a merger is purely among the (n − m) smallest firms.

Can mud (silt and clay) concentration be used to predict soil organic carbon content within seagrass ecosystems?

The emerging field of blue carbon science is seeking cost-effective ways to estimate the organic carbon content of soils that are bound by coastal vegetated ecosystems. Organic carbon (Corg) content in terrestrial soils and marine sediments has been correlated with mud content (i.e. silt and clay), however, empirical tests of this theory are lacking for coastal vegetated ecosystems. Here, we compiled data (n = 1345) on the relationship between Corg and mud (i.e. silt and clay, particle sizes <63 μm) contents in seagrass ecosystems (79 cores) and adjacent bare sediments (21 cores) to address whether mud can be used to predict soil Corg content. We also combined these data with the δ13C signatures of the soil Corg to understand the sources of Corg stores. The results showed that mud is positively correlated with soil Corg content only when the contribution of seagrass-derived Corg to the sedimentary Corg pool is relatively low, such as in small and fast growing meadows of the genera Zostera, Halodule and Halophila, and in bare sediments adjacent to seagrass ecosystems. In large and long-living seagrass meadows of the genera Posidonia and Amphibolis there was a lack of, or poor relationship between mud and soil Corg content, related to a higher contribution of seagrass-derived Corg to the sedimentary Corg pool in these meadows. The relative high soil Corg contents with relatively low mud contents (i.e. mud-Corg saturation) together with significant allochthonous inputs of terrestrial organic matter could overall disrupt the correlation expected between soil Corg and mud contents. This study shows that mud (i.e. silt and clay content) is not a universal proxy for blue carbon content in seagrass ecosystems, and therefore should not be applied generally across all seagrass habitats. Mud content can only be used as a proxy to estimate soil Corg content for scaling up purposes when opportunistic and/or low biomass seagrass species (i.e. Zostera, Halodule and Halophila) are present (explaining 34 to 91% of variability), and in bare sediments (explaining 78% of the variability).