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Chinese Corporate Leverage Determinants

  • Ferrarini, Benno;Hinojales, Marthe;Scaramozzino, Pasquale
    • The Journal of Asian Finance, Economics and Business
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    • v.4 no.1
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    • pp.5-18
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    • 2017
  • Total debt in the People's Republic of China surged to nearly 290% as a ratio to GDP by the second quarter of 2016, mostly on account of non-financial corporate debt. The outpouring of credit to stem the impact of the global financial crisis accentuated industrial overcapacity in traditional sectors, such as steel, cement, and energy, while feeding asset bubbles in the property, equity and bond markets. At the Chinese corporate level, this has translated into weakened fundamentals and a fall in industrial profits, particularly of SOEs. As debtors struggle to service interest payments, non-performing loans (NPLs) have been on the rise. This paper assesses the financial fragility of the Chinese economy by looking at risk factors in the non-financial sector. We apply quantile regressions to a dataset containing all Chinese listed companies in Standard & Poor's IQ Capital database. We find higher sensitivity over time of corporate leverage to some of its key determinants, particularly for firms at the upper margin of the distribution. In particular, profitability increasingly acts as a curb on corporate leverage. At a time of falling profitability across the Chinese non-financial corporate sector, this eases the brake on leverage and may contribute to its continuing increase.

Effects of Temperature and Irradiance on Growth and Infection of Three Endophytic Green Algae (내생녹조 3종의 생장과 감염에 미치는 온도 및 광의 영향)

  • Kim, Chansong;Kim, Young Sik
    • Korean Journal of Fisheries and Aquatic Sciences
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    • v.48 no.1
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    • pp.88-95
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    • 2015
  • The three endophytes, Blastophysa rhizopus, Bolbocoleon piliferum, Ulvella leptochaete, were isolated in a laboratory culture from a Grateloupia lanceolata thallus collected in Jeju. Effects of temperature and irradiance on growth and infection of the three species, were examined. Based on the unialgal cultures, their growth was examined under six temperatures (9, 13, 17, 21, 25, $29^{\circ}C$) and two irradiance levels (60, $100{\mu}mol\;m^{-2}s^{-1}$). Also, infection experiments to the five hosts (Ulva intestinalis, Scytosiphon lomentaria, Gracilaria verimiculophylla, Chondrus ocellatus, and Grateloupia elliptica) with three endophytes were carried out under four temperatures (10, 15, 20, $25^{\circ}C$) and two irradiance levels (60, $100{\mu}mol\;m^{-2}s^{-1}$). In culture of the endophytes, optimum growth was found in $100{\mu}mol\;m^{-2}s^{-1}$ in combination with $21^{\circ}C$. At the end of infection experiment, endophytes were observed at all the hosts. Among three endophytes, U. leptochaete was the most common at the five hosts. However, we did not observe any endophytes at all hosts tested under $10^{\circ}C$ condition. Based on this result, it appears that temperature acts as a limiting factor to infection of the three species.

Regulation of the sufABCDSE Operon by Fur

  • Lee, Joon-Hee;Yeo, Won-Sik;Roe, Jung-Hye
    • Journal of Microbiology
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    • v.41 no.2
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    • pp.109-114
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    • 2003
  • A promoter that is inducible by paraquat and menadione, the superoxide generators, independently of soxRS has been found in front of the sufABCDSE operon in Escherichia coli. Based on the observation that SufA is a holomog of IscA that functions in the assembly of iron sulfur cluster and the sufA promoter (sufAp) contains a putative Fur-binding consensus, we investigated whether this gene is regulated by Fur, a ferric uptake regulator, When examined in several sufAp-lacZ chromosomal fusion strains, sufAp was induced by EDTA, an iron chelator and a well-known Fur-inducer, The basal level of sufA expression increased dramatically in fur mutant, suggesting repression of sufAp by Fur. The derepression in fur mutant and EDTA-induction of sufA expression required nucleotides up to -61, where a putative Fur box is located. Purified Fur protein bound to the DNA fragment containing the putative Fur box between -35 and -10 promoter elements. The regulation by Fur and menadione induction of sufAp acted independently. The rpoS mutation increased sufA induction by menadione, suggesting that the stationary sigma factor RpoS acts negatively on sufA induction.

A Priority Based Transmission Control Scheme Considering Remaining Energy for Body Sensor Network

  • Encarnacion, Nico;Yang, Hyunho
    • Smart Media Journal
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    • v.4 no.1
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    • pp.25-32
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    • 2015
  • Powering wireless sensors with energy harvested from the environment is coming of age due to the increasing power densities of both storage and harvesting devices and the electronics performing energy efficient energy conversion. In order to maximize the functionality of the wireless sensor network, minimize missing packets, minimize latency and prevent the waste of energy, problems like congestion and inefficient energy usage must be addressed. Many sleep-awake protocols and efficient message priority techniques have been developed to properly manage the energy of the nodes and to minimize congestion. For a WSN that is operating in a strictly energy constrained environment, an energy-efficient transmission strategy is necessary. In this paper, we present a novel transmission priority decision scheme for a heterogeneous body sensor network composed of normal nodes and an energy harvesting node that acts as a cluster head. The energy harvesting node's decision whether or not to clear a normal node for sending is based on a set of metrics which includes the energy harvesting node's remaining energy, the total harvested energy, the type of message in a normal node's queue and finally, the implementation context of the wireless sensor network.

Proteins as the molecular markers of male fertility

  • Beeram, Eswari
    • The Korean Journal of Food & Health Convergence
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    • v.4 no.4
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    • pp.18-25
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    • 2018
  • Proteins play a key role in many functions such as metabolic activity, differentiation, as cargos and cell fate regulators. It is necessary to know about the markers involved in male fertility in order to develop remedies for the treatment of male infertility. But, the role of the proteins is not limited to particular function in the biological systems. Some of the proteins act as ion channels such as catsper and proteins like Nanos acts as a translational repressor in germ cells and expressed in prenatal period whose role in male fertility is uncertain. Rbm5 is a pre mRNA splicing factor necessary for sperm differentiation whose loss of function results deficit in sperm production. DEFB114 is a beta defensin family protein necessary for sperm motility in LPS challenged mice where as TEX 101 is a plasma membrane specific germ cell protein whose function is not clearly known u to now. Gpr56 is another adhesion protein whose null mutation leads to arrest of production of pups in rats. Amyloid precursor protein role in Alzheimer's disease is already known but it plays an important role in male fertility also but its function is uncertain and has to be considered while targeting APP during the treatment of Alzheimer's disease. The study on amyloid precursor protein in male fertility is a novel thing but requires further study in correlation to alzheimer's disease.

Gothic Chic in High Fashion (하이패션에 나타난 고딕 시크)

  • Yim, Eun-Hyuk
    • Journal of the Korean Society of Costume
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    • v.63 no.5
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    • pp.1-17
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    • 2013
  • As style is the center of subcultural identity and the clothes and adornments are the most visible symbol of its membership, the style of Goth symbolizes the strong subcultural identity and acts as the practical basis to demonstrate commitment to the subculture. In the turn of the third millennium, fashion designers have drawn upon and extracted elements from many subcultures to use in their collections. High fashion designers have introduced the Goth style since its inception in the 1980s. The energy and authenticity of Goth has been considered to be desirable in high fashion. The aesthetic property of Goth subcultural style defeats the established notion of standardized fashion and stimulates new consciousness, which makes room for diversification and subdivision. This study attempts to forecast the trends of the 21st century via researching the diffusion of Goth style in high fashion. In order to investigate the aesthetics and styles of Gothic chic, along with literature research, this study investigates the fashion collections from the late 1990s to 2000s as well as the images of street fashion magazines.

TLR4 Mediates Pneumolysin-Induced ATF3 Expression through the JNK/p38 Pathway in Streptococcus pneumoniae-Infected RAW 264.7 Cells

  • Nguyen, Cuong Thach;Kim, Eun-Hye;Luong, Truc Thanh;Pyo, Suhkneung;Rhee, Dong-Kwon
    • Molecules and Cells
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    • v.38 no.1
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    • pp.58-64
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    • 2015
  • Activating transcription factor-3 (ATF3) acts as a negative regulator of cytokine production during Gram-negative bacterial infection. A recent study reported that ATF3 provides protection from Streptococcus pneumoniae infection by activating cytokines. However, the mechanism by which S. pneumoniae induces ATF3 after infection is still unknown. In this study, we show that ATF3 was upregulated via Toll-like receptor (TLR) pathways in response to S. pneumoniae infection in vitro. Induction was mediated by TLR4 and TLR2, which are in the TLR family. The expression of ATF3 was induced by pneumolysin (PLY), a potent pneumococcal virulence factor, via the TLR4 pathway. Furthermore, ATF3 induction is mediated by p38 mitogen-activated protein kinase (MAPK) and c-Jun N-terminal kinase (JNK). Thus, this study reveals a potential role of PLY in modulating ATF3 expression, which is required for the regulation of immune responses against pneumococcal infection in macrophages.

Effects of Forward Speed on the Linear and Nonlinear Hydrodynamic Forces Acting on Advancing Submerged Cylinders in Oscillation (동요(動搖)하는 2차원몰수체(次元沒水體)에 작용(作用)하는 선형(線形) 및 비선형(非線形) 동유체력(動流體力)에 미치는 전진속도(前進速度)의 영향(影響))

  • J.H.,Hwang;Y.J.,Kim;S.S.,Lee
    • Bulletin of the Society of Naval Architects of Korea
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    • v.24 no.2
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    • pp.47-54
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    • 1987
  • Linear and nonlinear hydrodynamic force, which acts on submerged circular and eilliptic cylinders in oscillations as well as in advancing motion, are investigated as an initial-boundary value problem using a numerical method, which makes use of the source distribution on the body surface and the spectral method for treating the free surface waves. In the numerical code developed here, the boundary condition at the body surface is linearized. Using the numerical code so attained, nonlinear effects for different forward speeds and of the large-amplitude motion are computed. One of the major findings is that, when the forward speed is large, the added mass has its minimum and the damping force change rapidly around the frequency corresponding to the speed-frequency parameter, $\tau$=0.25, Compared to the result of Grue's [10], who used linear theory to get abrupt changes in values of the added mass and the damping force at the frequency corresponding to $\tau$=0.25, the present study, which takes nonlinear effects into account, shows much smoother variations near the frequency.

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New record of Pleuronema marinum Dujardin, 1841 (Protozoa, Ciliophora) from South Korea

  • Jeong Hyeon, Yeo;Ji Hye, Choi;Atef, Omar;Jae-Ho, Jung
    • Journal of Species Research
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    • v.11 no.4
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    • pp.278-286
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    • 2022
  • During a field survey of Korean marine ciliates, we collected Pleuronema marinum from a brackish water sample. It is characterized by the presence of a contractile vacuole in mid-body, rather than the subterminal/ terminal contractile vacuole as in other congeners. The cells were examined in vivo and based on protargol and 'wet' silver nitrate impregnation. In addition, the nuclear 18S rRNA gene was sequenced using a single cell. The Korean population morphologically and molecularly resembles a Chinese population of P. marinum. Historical review of the species concludes that 1) two or more species have been assigned into P. marinum, 2) the position of contractile vacuole (e.g., in mid-body) is a valid character state, and 3) P. marinum is probably a rare species. Here we provide a monographic treatment of P. marinum to clarify the issue and for further studies of relevant species. Considering there are about 40 nominal species and complex nomenclatural acts in the genus Pleuronema, further studies should provide descriptions based on protargol and 'wet' silver impregnation with marker gene(s).

Generation Z in Jakarta's Attitude Towards COVID-19 Ad Distribution on YouTube

  • CHRISTIAN, Michael;PARDEDE, Ratlan;INDRIYARTI, Eko Retno
    • Journal of Distribution Science
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    • v.20 no.3
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    • pp.13-22
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    • 2022
  • Purpose: Thisstudy aims to measure the attitudes of Generation Z in Jakarta towards advertisements containingCOVID-19 information. Research design, data and methodology: This study is a quantitative method with partial least square structural equation modeling (PLS-SEM) with SMART PLS as an analytical tool. The sample size is 216 participants was obtained randomly through a questionnaire distributed online. This study consisted of exogenous variables (advertising content, value, irritation, and economic benefits), endogenous variables (attitudes towards advertising), and some moderating roles. Results: The results of thi study explain that this generation's attitude towards advertising is affected by the content and value aspects embedded in advertisements. Value can be formed from creativity in making advertising content as interesting and informative as possible. Interestingly, this study also found that the irritation aspect and economic benefits had no effect on the audience's attitude towards the advertisement. Neither the irritating aspect of advertising nor the economic value that is formed acts as a moderator of the content and the value of the ad. Conclusions: The ongoing pandemic and periodic adjustments to government policies regarding COVID-19, these results can be compared with other advertisements for future studies, especially those using the same variables as this study.