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Sludge bulking is still a problem in the operation of state-of-the-art wastewater treatment plants (WWTPs). The ozonation of returned activated sludge (RAS) is an innovative option as a non-specific measure for the control of filament growth. The applicability of sludge ozonation for bulking control of a large wastewater treatment plant was investigated. At(More)
In this paper, we examine whether recent regulatory reforms requiring majority board independence are effective in reducing earnings management. Firms that did not have a majority of independent directors prior to the reforms (referred to as non-compliance firms) are required to increase their board independence. We find that overall, compared to the other(More)
In the Federal Republic of Germany, the requirements on the effluent quality which wastewater treatment plants (WWTPs) with a design value larger than 100,000 PE must achieve in regard to the parameter Nanorg were increased by a national regulation on 01/08/2002. The reason for this action was a pending threat of the European Court because of the(More)
Academics and practitioners have long recognized the importance of a firm’s industry membership in explaining its financial performance. Yet, contrary to conventional wisdom, recent research shows that industry-specific profitability forecasting models are not better than economy-wide models. The objective of this paper is to further explore this result and(More)
Academics and practitioners have long recognized the importance of a firm’s industry membership in explaining its financial performance. Yet, contrary to conventional wisdom, recent research shows that industry-specific profitability forecasting models are not better than economy-wide models. The objective of this paper is to further explore this result and(More)
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