International Brownfield Investment of Chinese Firms

Zhang Ruonan 한국유통과학회 2015 KODISA ICBE (International Conference on Business Vol.2015 No.-

Under the era of globalization, countries all around the world depend on one another. This trend allows international brownfield investment-mergers and acquisitions-to be an obvious feature of the world economy. As a member of the World Trade Organization, China has opened its economy. The economy enables Chinese firms to compete internationally. Compared with ones in developed countries, China’s cross-border investment is still at an infant stage in terms of investment volumes. Nonetheless, multinational corporations in China are growing. In this regard, it is necessary to do research on success and failure of Chinese firms’ international brownfield investment.

Corporate Social Responsibility Disclosure, Financing Constraints and Investment-Cash Flow Sensitivity

Zhang Ruonan,Yin Hong 한국유통과학회 2019 Asian Journal of Business Environment (AJBE) Vol.9 No.1

Purpose - The purpose of this paper is to investigate the relationship between corporate social responsibility disclosure (CSRD) and investment-cash flow sensitivity, which is a surrogate for financing constraints. Research design, data, and methodology – Taking China’s A-share listed companies between 2009 and 2016 as a sample, this paper empirically tests the relationship between CSRD and investment-cash flow sensitivity by Panel VAR model. By introducing the orthogonal impulse response function, this paper distinguishes the fundamental factors and financial ones that affect corporate investment behavior. Results – Findings indicate that: (1) investment-cash flow sensitivity of firms with low level of CSRD is significantly lower than that of firms with high level of CSRD; (2) the orthogonal impulse response of corporate investment to cash flow in firms with high level of CSRD is significantly different from zero, but it is not significant in firms with low level of CSRD; (3) for firms with low level of CSRD, 0.7% of corporate investment volatility can be explained by the change in cash flow, which is lower than that of firms with high level of CSRD (1.1%). Conclusions - Corporations disclosing more and higher quality CSRD are often those faced with financing constraints. Voluntary disclosure can help them alleviate information asymmetry and financing constraints.

Home Government Policies and the Internationalization of SMEs

Zhang Ruonan,Sun Fengfei 한중경제문화학회 2021 한중경제문화연구 Vol.17 No.-

The Necessity of China’s SMEs Developing Overseas Market

Zhang ruonan,Sun fengfei 한중경제문화학회 2021 한중경제문화연구 Vol.16 No.-

Do K-Pop Consumption and Direct Contact with Koreans Affect American Audiences’ Perception on South Korea and Its Products?

Ruonan Zhang,Nicky Chang Bi 한국언론학회 2019 Asian Communication Research Vol.16 No.1

This study examines the impact of media consumption of K-pop and direct contact with South Koreans on American audiences (N=260) attitudes toward South Korea as a country and its products, and behavioral intentions toward visiting South Korea and purchasing products from this country. Parasocial relationship was investigated as a mediator between K-pop media consumption and behavioral intentions. Structural Equation Modeling was used for data analysis and results indicated that direct contact quality significantly predicted all four dependent variables. K-pop consumption time predicted American female participants behavioral intention towards visiting Korea. K-pop consumption frequency predicted participants attitude towards Korean products for both males and females, and male participants behavioral intention towards visiting Korea through the mediation of the parasocial relationship. Mediated contact frequency, but not mediated contact time, predicted participants parasocial relationship with their favorite K-pop stars. Implications on distribution management of export-oriented media content, cross-cultural exchanges, and product placement in media contents were also discussed.

Regional Financial Development, Firm Heterogeneity and Investment Efficiency

Ruonan Zhang,Hong Yin 한국유통과학회 2018 The Journal of Asian Finance, Economics and Busine Vol.5 No.4

The purpose of this paper is to examine the relationship between regional financial development and corporate investment efficiency as well as the relationship between firm-level characteristics and corporate investment efficiency. Using a large sample of A-listed companies in China from CSMAR database between 2003 and 2016, this paper explores corporate investment efficiency and its influencing factors in emerging market on the basis of heterogeneous stochastic frontier model. The results show that: (1) the average investment efficiency of Chinese listed companies is 74.5%, and the investment efficiency of large enterprises, state-owned enterprises and enterprises with relatively high financial development level is significantly higher; (2) compared with average corporate investment efficiency in the year 2003, the investment efficiency of different types of enterprises in 2016 is significantly higher, and the gap is gradually widening; (3) enterprise heterogeneity namely firm size, nature of property right, and institutional environment reflected by the level of regional financial development indirectly affects corporate investment efficiency by influencing the financing constraints and uncertainty. The findings suggest that to improve corporate investment efficiency in emerging market, financial market should be accelerated, regional balance should be restored and the differences among regions, industries and differences between public and private sectors should be eliminated.

Attitude as Situational Motivation of Communicative Actions : Navigating U.S.- China Trade Dispute through Situational Theory of Problem Solving

Ruonan Zhang,Nicky Chang Bi,Peiqin Chen 한국언론학회 2020 Asian Communication Research Vol.17 No.2

This study confirms and extends Situational Theory of Problem Solving (STOPS) by examining it in the context of the U.S.-China trade dispute. Using Chinese national survey data (N = 935), this study reveals that the attitude towards China’s stand on the trade dispute as a significant negative mediator between antecedent perceptual variables and multiple communicative actions: online information seeking, online information permitting, and information sharing. This study provides empirical proof of STOPS from a different cultural setting other than the U.S. It not only confirms the theoretical structure of the novel variables developed through STOPS, but also advances the theory by testing the communicative actions in the online realm as dependent variables. Practical implications on crisis communication and political public information management were also discussed.

A study on the Improvement of Shandong Logistics Park

Ruonan Zhang,Xingang Huan,Taewon Kang 전북대학교 산업경제연구소 2016 아태경상저널 Vol.8 No.1

This study is to investigate how to promote value added logistics activities for Shandong Province of China. the logistics industry will play more and more important role as assistance service in national economy development. Logistics Park is the new format of modern logistics industry, which develops very rapidly by integrating logistics functions to meet the logistics demands of the port, industrial parks and urban development. It may become one of the main forms of the integration of the logistics industry in future. Therefore, the planning and construction of modern logistics park is great significant, promoting China"s industry and the rapid development of the logistics park play intensive, transport convergence and the support of the joint expansion, and enhance logistics services and management levels, and promote regional economic development.

Screening and functional validation of lipid metabolism-related lncRNA-46546 based on the transcriptome analysis of early embryonic muscle tissue in chicken

Chen Ruonan,Liao Kai,Liao Herong,Zhang Li,Zhao Haixuan,Sun Jie 아세아·태평양축산학회 2023 Animal Bioscience Vol.36 No.2

Objective: The study was conducted to screen differentially expressed long noncoding RNA (lncRNA) in chickens by high-throughput sequencing and explore its mechanism of action on intramuscular fat deposition. Methods: Herein, Rose crown and Cbb broiler chicken embryo breast and leg muscle lncRNA and mRNA expression profiles were constructed by RNA sequencing. A total of 96 and 42 differentially expressed lncRNAs were obtained in Rose crown vs Cobb broiler chicken breast and leg muscle, respectively. lncRNA-ENSGALT00000046546, with high interspecific variability and a potential regulatory role in lipid metabolism, and its predicted downstream target gene 1-acylglycerol-3-phosphate-O-acyltransferase 2 (AGPAT2), were selected for further study on the preadipocytes. Results: lncRNA-46546 overexpression in chicken preadipocyte 2 cells significantly increased (p<0.01) the expression levels of AGPAT2 and its downstream genes diacylglycerol acyltransferase 1 and diacylglycerol acyltransferase 2 and those of the fat metabolismrelated genes peroxisome proliferator-activated receptor γ, CCAAT/enhancer binding protein α, fatty acid synthase, sterol regulatory element-binding transcription factor 1, and fatty acid binding protein 4. The lipid droplet concentration was higher in the overexpression group than in the control cells, and the triglyceride content in cells and medium was also significantly increased (p<0.01). Conclusion: This study preliminarily concludes that lncRNA-46546 may promote intramuscular fat deposition in chickens, laying a foundation for the study of lncRNAs in chicken early embryonic development and fat deposition.

Melatonin prevents lung injury by regulating apelin 13 to improve mitochondrial dysfunction

Lu Zhang,Fangli Liu,Xiaomin Su,Yue Li,Yining Wang,Ruonan Fang,Yingying Guo,Tongzhu Jin,Huitong Shan,Xiaoguang Zhao,Rui Yang,Hongli Shan,Haihai Liang 생화학분자생물학회 2019 Experimental and molecular medicine Vol.51 No.-

Pulmonary fibrosis is a progressive disease characterized by epithelial cell damage, fibroblast proliferation, excessive extracellular matrix (ECM) deposition, and lung tissue scarring. Melatonin, a hormone produced by the pineal gland, plays an important role in multiple physiological and pathological responses in organisms. However, the function of melatonin in the development of bleomycin-induced pulmonary injury is poorly understood. In the present study, we found that melatonin significantly decreased mortality and restored the function of the alveolar epithelium in bleomycin-treated mice. However, pulmonary function mainly depends on type II alveolar epithelial cells (AECIIs) and is linked to mitochondrial integrity. We also found that melatonin reduced the production of reactive oxygen species (ROS) and prevented apoptosis and senescence in AECIIs. Luzindole, a nonselective melatonin receptor antagonist, blocked the protective action of melatonin. Interestingly, we found that the expression of apelin 13 was significantly downregulated in vitro and in vivo and that this downregulation was reversed by melatonin. Furthermore, ML221, an apelin inhibitor, disrupted the beneficial effects of melatonin on alveolar epithelial cells. Taken together, these results suggest that melatonin alleviates lung injury through regulating apelin 13 to improve mitochondrial dysfunction in the process of bleomycin-induced pulmonary injury.