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.

A systematic review and network meta-analysis of biomedical Mg alloy and surface coatings in orthopedic application

XinYue Lu,HongXin Cai,Yu Ru Li,Xinru Zheng,Jiahao Yun,Wenhui Li,Xiaoyu Geng,Jae-Sung Kwon,Heng Bo Jiang 대한치과재료학회 2021 대한치과기재학회 학술대회 Vol.2021 No.11

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.

Bimodal-Structured Al–Mg Alloy with High Strength and Ductility Processed by High Strain Rate Rolling at Medium Temperature

Xinyu Li,Weijun Xia,Jihua Chen,Hongge Yan,Zhenzhen Li,Bin Su,Min Song 대한금속·재료학회 2021 METALS AND MATERIALS International Vol.27 No.12

A bimodal grain distribution is generated in the Al-6.5Mg alloy deformed by high strain rate rolling (HSRR) at 320 °C, inwhich the fine grains with the average size of 2.1 μm and the coarse grains with the size of hundreds of microns containingultrafine sub-grains are developed. The deformed microstructures are detected by transmission electron microscopy, X-raydiffraction and electron backscattered diffraction. High strength and considerable ductility are achieved in the HSRRed alloyand the high strength is ascribed to solution strengthening, grain (sub-grain) strengthening and dislocation strengthening. The grain (sub-grain) strengthening is the dominant contributor (~ 146 ± 6 MPa) for yield strength. The generation of newfine grains is primarily observed along the deformation bands related to the high Mg solid content and the high strain rate at320 °C. The dynamic recrystallization related to the deformation bands is proposed to build the bimodal grain distributionfor achieving high strength and considerable ductility.

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

Emulsifying properties of different soy hull pectin polysaccharides and application in mayonnaise

Jun Li,Huaitian Cui,Xinyue Xu,Jiayi Li,Miaomiao Lu,Xijie Guan,Danshi Zhu,He Liu 한국식품과학회 2022 Food Science and Biotechnology Vol.31 No.6

Soy hull pectic polysaccharide (SHPP) is a kindof biological macromolecule prepared from soy hull, whichhas certain thickening and gel properties. In present study,SHPP was extracted with citric acid and sodium citratefrom soybean hulls under the assistance of microwave,respectively. SHPPs were then compared with commercialpectin polysaccharide to test their emulsification ability. The emulsion prepared from SHPP extracted with sodiumcitrate has the best emulsifying effect, small particle sizeand uniform distribution. The rheological properties andparticle size distribution of mayonnaise did not changesignificantly after the addition of different SHPPs andcommercial pectin polysaccharides. However, microscopicobservations revealed that the droplets were more uniformlydistributed in the mayonnaise after the addition ofSHPP extracted with sodium citrate under the assistance ofmicrowave and commercial pectin APC141. SHPPextracted with sodium citrate may play an important role inmaintaining emulsion stability in the future.

Distribution characteristics of fungal communities with depth in paddy fields of three soil types in China

Xu Li,Huanhuan Wang,Xiang Li,Xinyu Li,Huiwen Zhang 한국미생물학회 2020 The journal of microbiology Vol.58 No.4

Little is known about the distribution of fungal communities with soil depth on relatively large scales. In this study, typical paddy soils in three regions (Hailun, Changshu, and Yingtan) from north to south China were selected to investigate the vertical distribution (0-100 cm) of the fungal community by Illumina MiSeq sequencing, and to identify the main factors influencing the fungal community distribution. The results indicated that the structure of the soil fungal community changed significantly with region and soil depth. Soil fungal taxa such as Zygomycota, Glomeromycota, Saccharomycete, Kazachstania, Mortierella, Massariosphaeria, Hypholoma, and Zopfiella were enriched at depths of 0–20 cm, whereas Dothideomycetes, Microbotryomycetes, Tremellomycetes, Sporobolomyces, Cryptococcus, Rhodotorula, Fusarium, and Pyrenochaetopsis had high relative abundances at 80–100 cm. Variance partitioning analysis indicated that the geographic distance contributed more to the fungal community variation than environmental variables on a large scale. In addition, soil total carbon and nitrogen contents were the main environmental factors driving the vertical distribution of the fungal community in paddy soils.

A Kriging Based Forecasting and Scheduling System for Scientific Computing Cloud Applications

Zhaojun Li,Xinyu Wang,Zheng Li,Xicheng Wang,Keqiu Li 보안공학연구지원센터 2015 International Journal of Grid and Distributed Comp Vol.8 No.3

Regarding to the theories and techniques of cloud computing having been developed and applied in scientific computing field, tasks can be conveniently managed by the cloud platform on the basis of standardized scheduling system with cost (resources consumed) recorded. However, there are two issues which drag the customers’ attention: 1) When will the tasks expect for termination (response time) under a specific resource scheduling; 2) What is the best scheduling solution by considering cost. In order to reply these two questions, a Kriging based forecasting and scheduling system has been proposed in this paper. With the cooperation between the scientific designer and the cloud designer, the design variables for evaluating the cloud applications can be achieved; Kriging surrogate model is then introduced to simulate the approximate functional relationship between the design variables and the response time of the tasks; Sequential quadratic programming optimization algorithm then provides the best scheduling solution for the tasks if cost constraints are to be met. Two real scientific computing cloud applications have been testified on an OpenStack cloud platform, with consequences described in details. The work in this paper has put forward a novel way for the designers and the customers on predictable and reasonable scheduling strategies for the various resource-intensive scientific computing cloud applications with surrogate models and optimization algorithms.