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SMEs are perceived as more exposed to the consequences of external shocks. The purpose of our work is to examine whether the ERM sophistication or corporate governance mechanisms could be relevant in resistance to COVID-19 shock in the SMEs. In particular, we hypothesize that the SMEs with greater degree of ERM sophistication and stronger CG mechanisms will have a clearer understanding about the severity of the impacts from COVID-19. Our empirical evidence is based on the results of a survey conducted within a large sample of SMEs operating in Poland and in Germany within different experimental settings. We have found that the ERM and CG sophistication influence the perception of COVID-19 interruptions and will alert companies to adjust their business strategy and organizational structure to better cope with effects of the current crisis. The proposed framework can also be a valuable tool for consultants to use to enhance the ERM systems in SMEs. [ABSTRACT FROM AUTHOR]

A bioassay using the nematode Caenorhabditis elegans was performed with natural sediment that had been spiked with organic matter (36-117 g total organic carbon/kg dry wt) and cadmium (Cd; 10-1,200 mg/kg wet wt). Whole sediment and pore water were tested to study the influence of particulate organic matter (POM) and dissolved organic matter (DOM) on Cd toxicity and to compare the toxicity of the two sediment phases. Toxicity was measured with nematode growth as test parameter. No toxicity was observed if sediment concentrations of Cd were below concentrations of acid-volatile sulfides (AVS). At higher Cd concentrations, toxicity in whole sediment and pore water increased with increasing organic content. This phenomenon was explained by an increase of DOM concentrations in organically enriched treatments and a resulting solubilization of Cd due to Cd complexation by DOM. Because DOM did not alter the bioavailability of Cd for the nematodes, bacteria, serving as food, might have functioned as vectors for Cd-DOM complexes, so that Cd could have become available in the gut of the nematodes. A higher toxicity in whole sediment compared to in pore water in the organically enriched treatments indicated that POM-bound Cd may have contributed to the toxicity of Cd to C. elegans. [ABSTRACT FROM AUTHOR]