The Bank-lending Channel of Monetary Policy Transmission in China: A Comparison between Chinese and Foreign Banks

LINAN,이연호 한국경제연구학회 2015 Korea and the World Economy Vol.16 No.2

This paper comparatively examines the bank-lending channel of monetary policy transmission in China between Chinese and foreign banks. We consider 22 foreign banks and 67 domestic banks that account for about 82-88% of total bank assets in China. We focus on the period 2007-2013 during which foreign banks in China had dramatically increased, following the liberalization of the entry of foreign banks at the end of 2006. In our models, we allow for heterogeneity in banks’ characteristics such as size, capitalization, liquidity, credit risk and efficiency. Using a fixed effect model, we find that bank ownership plays a critical role in determining bank’s response to monetary policy. In specific, foreign banks are found to be less sensitive to China’s monetary policy than Chinese banks, but they are sensitive to the real interest rate of U.S. This finding points to the existence of internal capital markets in case of foreign banks. Foreign banks can use internal capital market to buffer the impact of monetary policy on loans. As a result, they could reduce their loans by less than Chinese banks in response to tight monetary policy. When the Chinese monetary authority conducts monetary policies, therefore, it should keep in mind that larger changes in monetary policy instruments are required to obtain the same desired change in aggregate demand in the presence of the buffering effects of foreign banks. We also find that the effects of price instruments and quantitative instruments of monetary policy on Chinese banks’ lending behavior are different. For example, Chinese banks’ lending is more sensitive to policy lending rate than to required reserve ratio.

SOME RESULTS ON MEROMORPHIC SOLUTIONS OF CERTAIN NONLINEAR DIFFERENTIAL EQUATIONS

Li, Nan,Yang, Lianzhong Korean Mathematical Society 2020 대한수학회보 Vol.57 No.5

In this paper, we investigate the transcendental meromorphic solutions for the nonlinear differential equations $f^nf^{(k)}+Q_{d_*}(z,f)=R(z)e^{{\alpha}(z)}$ and fⁿf^(k) + Q_d(z, f) = p₁(z)e^α₁(z) + p₂(z)e^α₂(z), where $Q_{d_*}(z,f)$ and Q_d(z, f) are differential polynomials in f with small functions as coefficients, of degree d_* (≤ n - 1) and d (≤ n - 2) respectively, R, p₁, p₂ are non-vanishing small functions of f, and α, α₁, α₂ are nonconstant entire functions. In particular, we give out the conditions for ensuring the existence of these kinds of meromorphic solutions and their possible forms of the above equations.

Roles of Fibroblast Growth Factor-inducible 14 in Hepatocellular Carcinoma

Li, Nan,Hu, Wen-Jun,Shi, Jie,Xue, Jie,Guo, Wei-Xing,Zhang, Yang,Guan, Dong-Xian,Liu, Shu-Peng,Cheng, Yu-Qiang,Wu, Meng-Chao,Xie, Dong,Liu, Shan-Rong,Cheng, Shu-Qun Asian Pacific Journal of Cancer Prevention 2013 Asian Pacific journal of cancer prevention Vol.14 No.6

The prognostic value of the fibroblast growth factor-inducible 14 (Fn14) expression in hepatocellular carcinoma (HCC) is unknown. Real-time PCR (RT-PCR), western blot assays and immunohistochemistry analysis were here performed in order to compare Fn14 expressios in paired liver samples of HCC and normal liver tissue. Most of the tumor tissues expressed significantly higher levels of Fn14 compared to adjacent non-tumor tissues, with Fn14High accounting for 54.6% (142/260) of all patients. The Pearson ${\chi}^2$ test indicated that Fn14 expression was closely associated with serum alpha fetal protein (AFP) (P=0.002) and tumor number (p=0.019). Univariate and multivariate analyses revealed that along with tumor diameter and portal vein tumor thrombosis (PVTT ) type, Fn14 was an independent prognostic factor for both overall survival (OS) (HR=1.398, p=0.008) and recurrence (HR=1.541, p=0.001) rates. Fn14 overexpression HCC correlated with poor surgical outcome, and this molecule may be a candidate biomarker for prognosis as well as a target for therapy.

ADP-Ribosylation: Activation, Recognition, and Removal

Li, Nan,Chen, Junjie Korean Society for Molecular and Cellular Biology 2014 Molecules and cells Vol.37 No.1

ADP-ribosylation is a type of posttranslational modification catalyzed by members of the poly(ADP-ribose) (PAR) polymerase superfamily. ADP-ribosylation is initiated by PARPs, recognized by PAR binding proteins, and removed by PARG and other ADP-ribose hydrolases. These three groups of proteins work together to regulate the cellular and molecular response of PAR signaling, which is critical for a wide range of cellular and physiological functions.

Cervical Spondylotic Myelopathy due to the Ochronotic Arthropathy of the Cervical Spine

Li, Nan,Tian, Wei,Yuan, Qiang,He, Da The Korean Neurosurgical Society 2016 Journal of Korean neurosurgical society Vol.59 No.1

Ochronosis is a musculoskeletal manifestation of alkaptonuria, a rare hereditary metabolic disorder occurs due to the absence of homogentisic acid oxidase and leading to various systemic abnormalities related to deposition of homogentisic acid pigmentation (ochronotic pigmentation). The present case reports the clinical features, radiographic findings, treatments and results of a cervical spondylotic myelopathy woman patient due to the ochronotic arthropathy of the cervical spine. The patient aged 62 years was presented with gait disturbance and hand clumsiness. Physical examination, X-rays, computed tomography and lab results of the urine sample confirmed the presence of ochronosis with the involvement of the cervical spine. The patient underwent a modified cervical laminoplasty due to multi-segment spinal cord compression. The postoperative follow-up showed a good functional outcome with patient satisfaction. The present study concludes the conditions and important diagnostic and surgical aspects of a patient. It is necessary to identify the condition clinically and if cord compression is observed, appropriate surgical interventions needs to be instituted.

Meromorphic Function that Shares One Small Function with its Differential Polynomial

Li, Nan,Yang, Lian-Zhong Department of Mathematics 2010 Kyungpook mathematical journal Vol.50 No.3

In this paper, we investigate the uniqueness problems of meromorphic functions that share a small function with its differential polynomials, and give a result which is related to a conjecture of R. Br$\"{u}$ck and improve the results of I. Lahiri and Q. C. Zhang.

Coordinated Development of Agricultural Insurance, Agricultural Loans, and the Agricultural Industry in China

LI, Nan,JIA, Hong Da,KIM, Dong Joo Korea Distribution Science Association 2022 The Journal of Asian Finance, Economics and Busine Vol.9 No.7

The purpose of this study was to explore the relationship between agricultural insurance, agricultural loans, and the agricultural industry and find ways to consolidate and improve the interactive development between these three systems. We collected relevant data from 2009 to 2019 in 15 provinces of China and constructed a coupled coordination model to analyze the data. The results are as follows: First, the eastern part of China was ahead of the central and western parts in terms of agricultural loans and the agricultural industry, while the western part was ahead of the central and eastern parts in terms of agricultural insurance. Second, the coupling degree of the three systems in all 15 provinces reached an extremely high level. Third, all 15 provinces showed an overall continuous rise in coupling coordination degree. In 2019, eight provinces reached the medium-level coupling coordination development, and seven provinces were in a state of barely coupling coordination development. The three systems formed a mutually reinforcing relationship and basically entered a state of coordinated development. Finally, there was a great development gap between different regions of China concerning the coordinated development of the three systems, therefore, innovative development is urgently needed to further promote the coordinated development level.

Effect of control route on the unstart/restart characteristics of an over-under TBCC inlet

Li, Nan,Chang, Juntao,Tang, Jingfeng,Yu, Daren,Bao, Wen,Song, Yanping Techno-Press 2018 Advances in aircraft and spacecraft science Vol.5 No.4

Numerical simulations have been conducted to study the unstart/restart characteristics of an over-under turbine-based combined-cycle propulsion system (TBCC) inlet during the inlet transition phase. A dual-solution area exists according to the Kantrowitz theory, in which the inlet states may be different even with the same input parameters. The entire transition process was divided into five stages and the unstart/restart hysteresis loop for each stage was also obtained. These loops construct a hysteresis surface which separates the operating space of the engine into three parts: in which a) inlet can maintain a started state; b) inlet keeps an unstarted state; c) inlet state depends on its initial state. During the transition, the operation of the engine follows a certain order with different backpressures and splitter angles, namely control route, which may result in disparate inlet states. Nine control routes with different backpressures and transition stages were designed to illuminate the route-dependent behavior of the inlet. The control routes operating towards the unstart boundary can make the inlet transit from a started state into an unstarted one. But operating backward the same route cannot make the inlet restart, additional effort should be made.

Study on Assess of Enterprise Risk Management in China Based on Entropy Weight/TOPSIS Method

Li Nan 보안공학연구지원센터 2015 International Journal of u- and e- Service, Scienc Vol.8 No.9

Enterprise risk management (ERM) has raised increasing concern in the field of risk management, and brought practical revenues to enterprises in today’s complex interrelated global business environment. It is a valuable question for China enterprises how to improve the ERM performance. Based upon ERM implemental goals published by COSO, we user elevant data from non-financial listed corporations in SSE, from the perspectives of strategic effectiveness, operational efficiency, reporting reliability and corporate compliance. The data of 509 Chinese enterprises is validly interpreted by entropy weight/TOPSIS method to assess the ERM performance, and to analyze the status of ERM in China. Such models provide means quantitatively improve decision making with respect to the ERM performance.

A Further Result Related to a Conjecture of R. Brück

Li, Nan,Yang, Lianzhong,Liu, Kai Department of Mathematics 2016 Kyungpook mathematical journal Vol.56 No.2

In this paper, we investigate the uniqueness problem of a meromorphic function sharing one small function with its differential polynomial, and give a result which is related to a conjecture of R. $Br{\ddot{u}}ck$.