The Effects of ESG Performance on Export Intensity of Korean Firms

Yongshang Liu(Yongshang Liu),Sung-Hwan Kim(Sung-Hwan Kim),Xinyu Li(Xinyu Li) 한국무역연구원 2022 무역연구 Vol.18 No.6

Purpose – This study examines whether the export intensity of firms listed in the Korean market is affected by environmental, social and governance (ESG) ratings. We test whether the environmental, social, and governance (ESG) performance in ratings of Korean firms can improve their export intensity in the global markets. Design/Methodology/Approach – In this study, we introduce ESG ratings, export intensity and other control variables in the models using unbalanced panel data of 1,974 firms listed on the KOSPI and KOSDAQ Exchange between 2012 and 2021 from a merged dataset of the KIS-VALUE and TS-2000 databases. We apply the fixed effects model (FEMs) after applying the Hausman and Lagrangian multiplier tests. Also, we apply instrument variable regressions (IV regressions) to control endogeneity in ESG ratings affected by other factors introduced. Findings – First, higher ESG ratings of the firms have a significantly negative effect on export intensity, which is inconsistent with the results of the previous research (Herding and Poncet, 2014). Second, ESG ratings of chaebol firms do not significantly reduce export intensity. The results might be due to the less severe constraints in chaebol firms by ESG costs. (Chaney, 2008; Shi Xin-Zheng and Xu Zhu-Feng, 2018). Third, each ESG rating, E, S, and G individually, shows a significantly negative effect on export intensity for only non-chaebol firms, while such an effect for chaebol firms is not statistically significant. Fourth, using the instrument variable regression, we have verified the result that ESG performance has a negative effect on firms' export intensity. Research Implications – This study is the first to examine the relationship between the ESG ratings of Korean firms and their export intensity, whose result is different from that of a prior study regarding Chinese firms (Wu Qing-Lan, Chen Gui-Fu, Han Jing and Wu Li-Yan, 2022). The negative effects of ESG ratings in Korea on exports for non-chaebol firms suggest that higher ESG ratings of Korean firms are not favorably accepted by their counterparts in the global markets while their efforts to get or enhance higher ratings incurring more expenses might hurt their competence in the global markets. Such negative effects of ESG ratings are not clearly observed for chaebol affiliated firms.

Analysis of <i>Staphylococcus aureus</i> cell viability, sublethal injury and death induced by synergistic combination of ultrasound and mild heat

Li, Jiao,Suo, Yuanjie,Liao, Xinyu,Ahn, Juhee,Liu, Donghong,Chen, Shiguo,Ye, Xingqian,Ding, Tian Elsevier 2017 Ultrasonics sonochemistry Vol.39 No.-

<P><B>Abstract</B></P> <P>This study was designed to investigate the combined effects of ultrasound and mild heat on the viability of <I>S. aureus</I> in association with the cell membrane integrity and intracellular enzyme activity. Cells were treated by ultrasound under 55°C for 3, 5, 7, 10, and 15min. The dynamic changes of <I>S. aureus</I> cell viability, sublethal injury and death were evaluated using flow cytometric assay. Microscopies were applied to identify the morphological appearance, ultrastructure and topography of <I>S. aureus</I>. The results showed the membrane damage was synchronous with esterase inhibition during the exposure to sonication, leading to the immediate lethal effect. On the other hand, bacteria under the mild heat at 55°C were inactivated via a sublethal injury process. The different lethal modes were observed between sonication and mild heat treatments, which could synergistically inactivate <I>S. aureus</I>. The antibacterial value of thermo-sonication was greater than the sum of the individual treatments. The thermo-sonication combination synergistically reduced the number of sublethal cells and also resulted in severe cell damage.</P> <P><B>Highlights</B></P> <P> <UL> <LI> The lethal modes induced by ultrasound and mild heat were different. </LI> <LI> Two sterilization techniques were synergistic in cell inactivation. </LI> <LI> Cell viability, sublethal injury and death were distinguished by flow cytometry. </LI> <LI> Thermo-sonication treatment reduced the number of sublethal cells. </LI> <LI> Microscopies revealed <I>S. aureus</I> morphological changes and bactericidal effect. </LI> </UL> </P>

The Spillover Effects of Privatization on Efficiency and Income Inequality in China

Xinyu Li(Xinyu Li),Sunghwan Kim(Sunghwan Kim),Yongshang Liu(Yongshang Liu) The International Academy of Global Business and T 2023 The International Academy of Global Business and T Vol.19 No.1

Purpose - This study examines the spatial and inter-temporal spillover effects of privatization on the corporate efficiency and regional income inequality of Chinese state-owned enterprises (SOEs). Design/Methodology/Approach - The spatial Durbin model (SDM) is used in regressions to examine the spatial and inter-temporal spillover effects of the privatization of SOEs on improving the efficiency and income inequality of Chinese firms across regions. A panel dataset of Chinese-listed firms from 2008 to 2018 is used. The stochastic frontier analysis method is applied in estimating corporate efficiency. Findings - First, the privatization of Chinese SOEs increased their efficiency, but exacerbated their income inequality. Second, the globalization activities after the privatization of Chinese SOEs increased their efficiency, but exacerbated their income inequality. Specifically, exports decrease income inequality, while outward foreign direct investment or OFDI has an inverse U-shaped effect on income inequality. Third, the privatization improved overall corporate efficiency within the province and that of neighboring provinces. Fourth, the Chinese SOE firms after privatization aggravated income equality within the province and that of neighboring provinces. Research Implications - In general, the results of this study indicate that the privatization of SOEs and the globalization activities after the privatization have improved the efficiency of Chinese firms, but worsened income equality within the province and that of neighboring provinces. Therefore, there is a strong need for governmental policies to cure income equality in provinces around the location of privarized firms.

Sensorless Control of the Switched Reluctance Motor Based on the Sliding-Mode Observer

Li Xinyu,Liu Jiayu,Ge Lefei,Zhong Jixi,Huang Jiale,Zhao Yuchen,Song Shoujun 대한전기학회 2023 Journal of Electrical Engineering & Technology Vol.18 No.2

To upgrade the application of switched reluctance motors (SRMs) for more electric aircraft, this paper presents a method with sensorless control based on the flux-linkage data from the finite element method. First, a calibration strategy is employed to obtain the flux-linkage characteristics. Then, a sliding-mode observer is used to realize the sensorless control of the SRM. The proposed method only requires the flux-linkage of the SRM at aligned and unaligned rotor positions from the experiment which takes a low-measurement effort to get the rotor position and has better accuracy in position and speed estimation than the FEM. Experimental results verify the accuracy and effectiveness of the proposed method.

Xylazole inhibits NO-cGMP pathway in fetal rat nerve cells

Xinyu Wang,Yue Wu,Lin Liu,Hui Bai,Zhiheng Zhang,Mingchao Zhao,Tianwen Ma,Xiaopeng Song,Lina Jia,Liangyu Lv,Yue Yu,Xinyu Xu,Hong Chen,Li Gao 대한수의학회 2022 Journal of Veterinary Science Vol.23 No.1

Background: Xylazole (Xyl) is a veterinary anesthetic that is structurally and functionally similar to xylazine. However, the effects of Xyl in vitro remain unknown. Objectives: This study aimed to investigate the anesthetic mechanism of Xyl using fetal rat nerve cells treated with Xyl. Methods: Fetal rat nerve cells cultured for seven days were treated with 10, 20, 30, and 40 μg/ mL Xyl for 0, 5, 10, 15, 20, 25, 30, 45, 60, 90, and 120 min. Variations of amino acid neurotransmitters (AANTs), Nitric oxide-Cyclic GMP (NO-cGMP) signaling pathway, and ATPase were evaluated. Results: Xyl decreased the levels of cGMP and NO in nerve cells. Furthermore, Xyl affected the AANT content and Na+-K+-ATPase and Ca2+-Mg2+-ATPase activity in nerve cells. These findings suggested that Xyl inhibited the NO-cGMP signaling pathway in nerve cells in vitro. Conclusions: This study provided new evidence that the anesthetic and analgesic effects of Xyl are related to the inhibition of the NO-cGMP signaling pathway.

Analysis of a stage-structured predator-prey system with impulsive perturbations and time delays

Xinyu Song,Senlin Li,An Li 대한수학회 2009 대한수학회지 Vol.46 No.1

In this paper, a stage-structured predator-prey system with impulsive perturbations and time delays is presented to investigate the ecological problem of how a pest population and natural enemy population can coexist. Sufficient conditions are obtained using a discrete dynamical system determined by a stroboscopic map, which guarantee that a `predator-extinction' periodic solution is globally attractive. When the impulsive period is longer than some time threshold or the impulsive harvesting rate is below a control threshold, the system is permanent. Our results provide some reasonable suggestions for pest management. In this paper, a stage-structured predator-prey system with impulsive perturbations and time delays is presented to investigate the ecological problem of how a pest population and natural enemy population can coexist. Sufficient conditions are obtained using a discrete dynamical system determined by a stroboscopic map, which guarantee that a `predator-extinction' periodic solution is globally attractive. When the impulsive period is longer than some time threshold or the impulsive harvesting rate is below a control threshold, the system is permanent. Our results provide some reasonable suggestions for pest management.

Eastern religious culture and corporate ESG rating in China

Xinyue Li,Weiyu Zhang,조흥문,권종욱,주새 충남대학교 경영경제연구소 2023 경영경제연구 Vol.45 No.4

The study, using A-share listed companies as samples, examines the influence of major Chinese religions (Confucianism, Buddhism, Taoism) on corporate ESG ratings. The research reveals a significant positive correlation between Confucian and Taoist philosophies and corporate ESG, suggesting that religious culture might serve as an alternative mechanism to encourage ESG participation in emerging markets. Additionally, the impact of Buddhism and Taoism on ESG ratings is slightly stronger than that of Confucianism, providing an opportunity for further exploration of cultural influences. The study broadens the scope of corporate social responsibility and offers new insights for global companies practicing ESG. Through comparative analysis of the impact of different religions on corporate ESG, it provides empirical evidence for cross-cultural research and practical guidance for businesses and policymakers. Recognizing the positive influence of religious culture on ESG can aid policymakers in formulating policies for sustainable social progress. Despite limitations, this study offers a novel perspective on how traditional Chinese culture influences corporate ESG ratings, providing valuable insights for businesses and policymakers.

Model-Free Adaptive Integral Backstepping Control for PMSM Drive Systems

Li, Hongmei,Li, Xinyu,Chen, Zhiwei,Mao, Jingkui,Huang, Jiandong The Korean Institute of Power Electronics 2019 JOURNAL OF POWER ELECTRONICS Vol.19 No.5

A SMPMSM drive system is a typical nonlinear system with time-varying parameters and unmodeled dynamics. The speed outer loop and current inner loop control structures are coupled and coexist with various disturbances, which makes the speed control of SMPMSM drive systems challenging. First, an ultra-local model of a PMSM driving system is established online based on the algebraic estimation method of model-free control. Second, based on the backstepping control framework, model-free adaptive integral backstepping (MF-AIB) control is proposed. This scheme is applied to the permanent magnet synchronous motor (PMSM) drive system of an electric vehicle for the first time. The validity of the proposed control scheme is verified by system simulations and experimental results obtained from a SMPMSM drive system bench test.

MIGSHIELD: A new model-based interactive point kernel gamma ray shielding package for virtual environment

Li Mengkun,Xu Zhihui,Li Wei,Yang Jun,Yang Ming,Hongxin Lu,Dai Xinyu 한국원자력학회 2020 Nuclear Engineering and Technology Vol.52 No.7

In this paper, 3D model-based interactive gamma ray shielding package (MIGSHIELD) is developed in virtual reality platform for windows operating system. In MIGSHIELD, the computational methodology is based on point kernel algorithm (PK), several key parameters of PK are obtained using new technique and new methods. MIGSHIELD has interactive capability with virtual world. The main features made in the MIGSHIELD are (i) handling of physical information from virtual world, (ii) handling of arbitrary shapes radioactive source, (iii) calculating the mean free path of gamma ray, (iv) providing interactive function between PK and virtual world, (v) making better use of PK for virtual simulation, (vi) plug and play. The developed package will be of immense use for calculations involving radiation dose assessment in nuclear safety and contributing to fast radiation simulation for virtual nuclear facilities.

Teaching Creativity’s Mediating Effect in the Relation Between Early Childhood Teachers’ Play Expertise and Teacher-Child Interaction

( Xinyue Li ),( Chunghee Chung ),( Keunyoung Lee ) 한국유아교육학회 2023 정기학술대회 논문집 Vol.2023 No.2