A Study of the Green Finance’s Influences on Enterprise Financing

HUANG WEIDONG 가천대학교 일반대학원 2022 국내박사

ABSTRACT Now China has entered a healthy state of economic development, however, China's economic development is in conflict with the quality of people's lives and the quality of the environment. In order to achieve economic progress, it is necessary to guarantee the quality of life and the quality of the environment at the same time. Therefore, a development model such as green finance is needed to balance the current economic and ecological environment. On the one hand, green finance is the current financial development trend in China. Due to the characteristics of its own industry and the advantages brought by catering policies, green finance projects show a rising trend, which is in contrast to the ordinary financial industry. On the other hand, the development of green finance and the financing capacity of enterprises are important factors for the development and progress of enterprises. From the perspective of enterprise development, green finance decisions made by enterprises can affect external financing, promote sustainable development of enterprises, and improve their financing ability. Since China's economic development shifted from the stage of rapid development to the stage of high-quality development, enterprises have gradually changed from the profit maximization development mode to sustainable development as the goal of development mode. Companies themselves pay more attention to prestige, social status, and environmental protection, and this shift has a positive impact on investors, consumers as well as governments. This paper mainly introduces the definition and related theories of green finance and financing, and sorts out the literature on the relationship between green finance, financing and other related variables. Based on the theoretical background and literature review, the hypotheses and numerical models are proposed. By selecting the data of A-Share Listed Companies in Shanghai and Shenzhen stock markets from 2010 to 2020 and excluding the samples of ST, *ST and PT, an empirical analysis is made on the influence mechanism of green finance development on enterprise financing. The research results are shown as follows. First, enterprises can improve their financing ability and ease financing constraints by developing green finance and implementing green finance policies. Second, in enterprises with high social responsibility, the improvement effect of green finance on enterprise investment and financing will be more significant. Third, in enterprises with high government support, the improvement effect of green finance on enterprise investment and financing will be more significant. Fourth, if enterprises have good risk management, the improvement effect of green finance on enterprise investment and financing will be more significant; Fifth, if enterprises actively disclose environmental information, the improvement effect of green finance on enterprise investment and financing will be more significant. Sixth, the higher the average educational level of enterprise management is, the more significant the improvement effect of green finance on enterprise investment and financing will be. On a micro level, this paper has implications for promoting enterprises to develop green finance and improve corporate financing. On a macro level, the research results of this paper have reference significance for the formulation of government policies and environmental protection.

Photoinduced damage and migration of reactive intermediates in DNA

Huang, Weidong New York University 2001 해외박사(DDOD)

소속기관이 구독 중이 아닌 경우 오후 4시부터 익일 오전 9시까지 원문보기가 가능합니다.

Oxidative DNA damage associated with benzo[<italic>a</italic>]pyrene residues and 2-aminopurine inserted site-specifically into DNA duplexes was investigated by high resolution polyacrylamide gel electrophoresis combined with <super>32</super>P-end-labeling techniques. In the benzo[<italic>a</italic>]pyrene-modified strand, upon photoirradiation with 355 or 308 nm laser pulses, cleavage can occur at pyrimidines C and T with high efficiency even when the easily oxidized base G is not present in the photosensitizer-modified sequence. However, if guanine(s) are present, and positioned close to the benzo[<italic>a</italic>]pyrene in the benzo[<italic> a</italic>]pyrene-modified sequence, most of the damage is concentrated on the single G or the 5<super>′</super>-G in the tandem GG steps. The most striking finding is that the fractions of cleaved fragments are almost the same in the 11-mer or 13-mer benzo[<italic>a</italic>]pyrene-modified sequences with or without guanines present in the sequence, which strongly suggests that reactive intermediates migrate in DNA duplexes and seek out the most easily oxidized base for reaction. Damage in the unmodified complementary strands predominantly occurs at guanine sites. Direct strand breaks, a hallmark of damage on sugars, are clearly observed in benzo[<italic>a</italic>]pyrene-modified sequences and to a much lesser extent in their complementary strands, signifying that the oxidation of sugars, besides oxidation of bases, may play a role in the strand cleavage patterns. The overall strand cleavage was observed more efficiently on the bases at the 5<super>′</super>-side than at the 3<super>′</super>-side of the BP-modified base by end-labeling either the 5<super>′</super>-side or the 3<super>′</super>-side of the benzo[<italic>a</italic>]pyrene-modified oligonucleotide. This result demonstrates that the damage on either side of the benzo[<italic>a</italic>]pyrene residue is generated by reactive intermediate migrating in the duplex rather than as mobile, solution-borne reactive intermediates. In that case, damage should have been similar on the 5<super>′</super>- and 3<super>′</super>-sides of the photosensitizer site where the photochemical reaction is initiated. Oxidative damage in benzo[<italic>a</italic>]pyrene-modified duplexes can migrate up to at least 40 Å from the benzo[<italic>a</italic>]pyrene site with a β value of 0.08 ± 0.01. The 2-aminopurine photosensitized DNA damage is quite similar, in most respect, to the photocleavage initiated by the benzo[<italic>a</italic>]pyrene residues. A fluorescence quenching method was developed for differentiating the binding conformations of benzo[<italic>a</italic>]pyrene to DNA.

Social responsibility and investment scale of Chinese listed enterprises

황웨이둥 Gachon University 2019 국내석사

Abstract Social Responsibility and Investment Scale of Chinese Listed Companies The object of this study is the relationship between corporate social responsibility (CSR) and investment scale of Chinese listed companies. Based on all the data of Shanghai and Shenzhen stock markets from 2010 to 2017, three hypotheses are proposed. First, corporate social responsibility has a positive impact on corporate investment scale. Second, in state-owned enterprises, CSR will have a more significant impact on enterprise investment scale.Third, corporate cash holdings will increase the impact of corporate social responsibility on corporate investment scale. Through the combination of descriptive statistics and regression analysis, the results are consistent with the hypothesis. Enterprises should actively fulfill their social responsibilities, increase their investment scale and achieve win-win results.