상하이 상장회사의 소유구조 및 이익관리와 대리인비용 간의 관계

Quan,Yiqing(권예경),Li-Rong,Zheng(정력용) 한국국제회계학회 2011 국제회계연구 Vol.0 No.37

본 연구는 중국기업의 소유구조, 이익관리와 대리인비용 간의 관계를 규명하고자 하였다. 본 연구에서는 중국 상하이 증권거래소에 상장되어 있는 기업들 중에서 상장 폐지, 금융보험업, ST(Special Treatment)기업, 재무자료 결측치 기업 및 극단치를 보이는 기업들을 제외한 675개를 연구대상으로 하고 2008회계연도 데이터를 사용한다. 기업소유구조와 관련된 기타자료 및 재무자료는 북경 SinoFin 정보 서비스 유한회사가 제공한 CCER 데이터베이스를 이용하였다. 본 연구결과는 중국 상하이 증권시장의 상장회사들에서 대리인비용은 소유권의 집중 정도가 높아질수록 판매 및 관리비 비율이 낮아지고 자산회전율이 높아지는 것으로 나타나 소유권의 집중정도가 높은 기업의 경우 대주주가(특히 1대주주) 경영자에 대한 감시·감독 역할이 대리인비용을 통제할 수 있음을 보여주고 있다. 또, 소유권의 견제정도가 높은 기업일수록 기업의 대리인비용은 상대적으로 높다는 연구결과를 얻었다. 이러한 현상은 선행연구들의 결과와 마찬가지로 대주주가 몇 명 있는 경우에서 기업경영에 대한 책임을 지는 주주가 분명하지 않기 때문에 대주주들의 무임승차문제가 발생하고 있음을 의미한다. 일반적으로 이익관리를 많이 하는 기업일수록 영업외 비용비율이 높아 지지만 소유권의 견제정도가 높은 기업일수록 이익관리의 상호작용을 통하여 그 비율이 더욱더 증가됨을 알 수 있다. 그리고 중국의 상장회사들에서 이루어지고 있는 이익 관리가 효율적인 이익관리가 아니고 기회주의적인 이익관리라는 증거를 얻었다. 즉, 중국 상장회사들의 경영자는 자신의 이익을 극대화하기 위한 이기적인 목적으로 이익조정을 하고 있다고 보아야 할 것이다. This study is focused on the effects of ownership structure, earnings management on the agency costs in Chinese listed companies. The processes of this empirical study are establishment of research hypotheses, elaboration of test model, definition and measurement of 675 sample companies, empirical analysis and interpretation of results. The data used in this research are provided from SSEportal and SinoFin information service co. in China. The proxies of ownership structure are ownership concentration, outside blocck-holders and proxies of earnings management is absolute discretionary accruals of modified Jones, model. the proxies of agency costs are firm size, ratio of sale and management expenses per operating revenues, ratio of operating revenues per total assets, ratio of operating revenues per other operating expenses, control variables are ratio of current liabilities/total assets, ratio of net cash inflow per total liabilities, industry dummy variable. The results of this study are as followings. First, the ownership concentrated companies tried to reduce agency cost actively rather than decentralized companies in China. Second, the interaction between ownership concentration and earnings management take negative effects on agency cost. Therefore we can say that the listed companies on Shanghai Stock Exchange implemented earnings management opportunistically.

Development of ligustrazine-loaded lipid emulsion: Formulation optimizatiom, characterization and biodistribution

( Lijun Wei ),( Nirmal Marasini ),( Gao Li ),( Chul Soon Yong ),( Jong Oh Kim ),( Qizhe Quan ) 영남대학교 약품개발연구소 2013 영남대학교 약품개발연구소 연구업적집 Vol.23 No.0

Ligustrazine is a traditional Chinese medicine used to treat various cardiovascular and neurovascular complications. However, this compound exhibits rapid first-pass metabolism, a short biological half-life, low stability and potential vascular irritation that restrict its use for long-term therapy. The use of a lipid emulsion as a carrier for intravenous administration of ligustrazine might provide sustained and prolonged release, thereby reducing the frequency of administration and improving patient compliance. The main purpose of our study was to develop a highly stable and sterile optimal formulation of a ligustrazine lipid emulsion (LLE) and to evaluate its pharmacokinetic behavior and tissue distribution in rats. The final optimal formulation consisted of soybean oil (12.0%), oleic acid (0.6%), lecithin (1.0%), poloxamer 188 (0.6%) and glycerol (2.25%). The average particle size, polydispersity index (PDI), zeta-potential and pH of the final product were 215.0±2.5 nm, 0.076±0.033, -40.4±5.3 mV and 7.25±0.05, respectively. The LLE was stable for at least three months at room temperature. In vitro drug release studies of the LLE suggested a sustained release profile, which was further confirmed by in vivo pharmacokinetic studies in rats. The area under the drug concentration-time curve from 0 h to 10 h (AUC(0-10h)) for LLE was increased by 1.6-fold compared with that of the commercially available ligustrazine injection (LI), suggesting enhanced bioavailability from the lipid-based emulsion. Furthermore, a tissue distribution study showed significant improvement in the distribution pattern of ligustrazine with a higher AUC(0-180 min) observed in all tissues for LLE than for LI. In conclusion, LLE, with excellent stability, improved pharmacokinetics and tissue distribution, demonstrates great potential for the delivery of ligustrazine for clinical applications.ⓒ2012 Elsevier B.V.All rights reserved.

Evolution of the effect of sulfur confinement in graphene-based porous carbons for use in Li-S batteries

Jia, Xiangling,Zhang, Chen,Liu, Juanjuan,Lv, Wei,Wang, Da-Wei,Tao, Ying,Li, Zhengjie,Zheng, Xiaoyu,Yu, Jong-Sung,Yang, Quan-Hong The Royal Society of Chemistry 2016 Nanoscale Vol.8 No.8

<P>A controllable drying strategy is proposed for the precise and non-destructive control over the structure of a 3D graphene assembly. Such an assembly is used as a model carbon material to investigate the pore structure-dependent shuttle effect and cycling performance of the cathode of a Li-S battery.</P>

Systemic Family Therapy of Comorbidity of Anxiety and Depression with Epilepsy in Adolescents

Jing Li1,Xuefeng Wang,Huaqing Meng,Kebin Zeng,Fengying Quan,Fang Liu 대한신경정신의학회 2016 PSYCHIATRY INVESTIGATION Vol.13 No.3

ObjectiveaaThe aim of this study was to find if systemic family therapy (SFT) does work in anxiety and depression with epilepsy in adolescents (ADAE). Methodsaa104 adolescents with epilepsy, aged 13–20 years old, were included from December 2009 to December 2010, the enrolled patients were with anxiety [Hamilton Anxiety Scale (HAMA) score ≥14 points] or depression [Hamilton Depression Scale (HAMD) score ≥20 points]. The patients were randomly divided into the control group (n=52) treated with antiepileptic drugs (AED) and the intervention group (n=52) undergone Systemic Family Therapy (SFT) as well as AED. The AED improvements, anxiety and depression scores, Social Support Rating Scale (SSRS), Family Assessment Device (FAD) and scale of systemic family dynamics (SSFD) were observed after 3-month treatment. ResultsaaThe frequencies of epileptic seizures in intervention group was decreased much more significantly than the control group (4.22±3.54 times/month vs. 6.20±5.86 times/month, p=0.04); and the scores of anxiety (9.52±6.28 points vs. 13.48±8.47 points, p=0.01) and depression (13.86±9.17 points vs. 18.89±8.73 points, p=0.02) were significantly decreased than the control group; meanwhile, the family dynamics and family functions were significantly improved, and the social support was also increased (p<0.05). ConclusionaaSFT combined with AEDs had better efficacies than AEDs alone, not only the frequency of epileptic seizures was decreased, but also the patients’ anxiety and depression were improved, and the family dynamics, family functions and social support were improved.

Polyethylenimine ethoxylated interlayer-mediated ZnO interfacial engineering for high-performance and low-temperature processed flexible perovskite solar cells: A simple and viable route for one-step processed CH₃NH₃PbI₃

Lim, Ju Won,Wang, Huan,Choi, Chi Hun,Quan, Li Na,Chung, Kyungwha,Park, Won-Tae,Noh, Yong-Young,Kim, Dong Ha Elsevier 2019 Journal of Power Sources Vol.438 No.-

<P><B>Abstract</B></P> <P>Developing perovskite solar cells (PSCs) with high-efficiency and a low-temperature process has great potential for the realization of the scalable, economic, and roll-to-roll based renewable energy conversion devices. ZnO has been recognized as the promising electron transport layer (ETL) that may overcome the limitations of the conventional TiO<SUB>2</SUB>. However, methylammonium lead iodide (MAPbI<SUB>3</SUB>) perovskite is prone to decomposition at the ZnO surface, which hinders the development of simple one-step deposition of perovskite, resulting in the limited photovoltaic performance. Herein, we report interlayer mediated efficient ETLs for viable flexible PSCs. The utilization of polyethyleneimine ethoxylated layer on ZnO prevents the direct contact between the perovskite and ETLs, avoiding the photoactive layer decomposition. Thus, interlayer-mediated PSCs show higher efficiency with enhanced stability by decreasing the electron transport barrier. As a result, the PSC employing tailor-designed ETL interfaces exhibited average power conversion efficiency (PCE) of 15.8%, which was superior by 25.4% to that of a control device (12.6%). With our strategy, we further demonstrated PSCs on flexible substrates which exhibit an average PCE of 11.9% under low-temperature fabrication. The new interface engineering strategy may pave the way to the realization of high performance, easy-to-process, and large-area perovskite optoelectronics.</P> <P><B>Highlights</B></P> <P> <UL> <LI> Universal interface engineering technique for highly stable flexible PSCs. </LI> <LI> The in-depth investigation into the enhanced stability and high-efficiency PSCs. </LI> <LI> Interlayer mediated PSC exhibits 15.8% PCE, superior by 25.4% to control device. </LI> <LI> Low-temperature processed PSCs for the next-generation renewable energy sources. </LI> </UL> </P> <P><B>Graphical abstract</B></P> <P>[DISPLAY OMISSION]</P>

Self-powered reduced-dimensionality perovskite photodiodes with controlled crystalline phase and improved stability

Lim, Ju Won,Wang, Huan,Choi, Chi Hun,Kwon, Hannah,Quan, Li Na,Park, Won-Tae,Noh, Yong-Young,Kim, Dong Ha Elsevier 2019 Nano energy Vol.57 No.-

<P><B>Abstract</B></P> <P>In this work, we developed the perovskite photodiodes based on the dimensionality-reduced quasi two-dimensional (Q-2D) photoactive layer structure by incorporating phenylethylammonium iodide (PEAI) into methylammonium lead iodide (MAPbI<SUB>3</SUB>), which effectively enhanced both the crystalline phase and the ambient stability of the perovskite. The Q-2D perovskite photodiode exhibited a dark current of 1.76 × 10<SUP>−7</SUP> A/cm<SUP>2</SUP>, resulting in the detectivity (D*) of 2.20 × 10<SUP>12</SUP> J and responsivity of 0.53 A/W, which is among the highest performance levels without the voltage bias (0 V) due to the systematically optimized perovskite phase resulting in the reduced leakage current. In addition, the current density of Q-2D perovskite photodiode maintained 76% of the initial level current density even after 80 days in the ambient condition, compared to 15% of 3D perovskite photodiode control sample. Such superior performance and stability were mainly attributed to the enhanced degree of crystallization of the Q-2D perovskites, which was confirmed by X-ray diffraction and grazing incidence wide-angle X-ray scattering (GIWAXS) measurement. Also, the improved stability of Q-2D perovskite films was confirmed by both lifetime test and atomic force microscopy studies where the negligible number of pinholes was observed in the quasi-2D perovskite films while considerable deformations were found in the 3D perovskites photodiode. Our study suggests a simple and robust protocol for the development of stable and high-performance perovskite photodetectors via dimensional and constitutional optimization of conventional perovskites for the practical usage of perovskite in the photodiode applications.</P> <P><B>Highlights</B></P> <P> <UL> <LI> The Q-2D perovskite photodiode exhibited the D* of 2.20 × 10<SUP>12</SUP> J and R of 0.53 A/W without the voltage bias (0 V). </LI> <LI> The current density of Q-2D perovskite photodiode maintained 76 % of the initial level while 15 % for the 3D one. </LI> <LI> Grazing incidence wide-angle X-ray scattering (GIWAXS) analysis revealed the origin of the stability improvement. </LI> <LI> Quasi-2D perovskite materials can be promising candidates for stable, tunable and flexible optoelectronic applications. </LI> </UL> </P> <P><B>Graphical abstract</B></P> <P>Dimensionality-controlled perovskite photodiodes with improved stability were systematically fabricated while retaining the comparable electrical performance of conventional three-dimensional perovskites. The quasi-2D perovskite photodetector exhibited an improved detectivity of 2.20 × 10<SUP>12</SUP> J performance and maintained 76% of initial level while the performance of three-dimensional perovskite photodetector remained only 15% after 80 days. Our study suggests a facile solution for the poor stability of the three-dimensional perovskite, with a potential for the development of highly-stable perovskite optoelectronics.</P> <P>[DISPLAY OMISSION]</P>

Ordered Reverse k Nearest Neighbor Search via On-demand Broadcast

( Li Li ),( Guohui Li ),( Quan Zhou ),( Yanhong Li ) 한국인터넷정보학회 2014 KSII Transactions on Internet and Information Syst Vol.8 No.11

The Reverse k Nearest Neighbor (RkNN) query is valuable for finding objects influenced by a specific object and is widely used in both scientific and commercial systems. However, the influence level of each object is unknown, information that is critical for some applications (e.g. target marketing). In this paper, we propose a new query type, Ordered Reverse k Nearest Neighbor (ORkNN), and make efforts to adapt it in an on-demand scenario. An Order-k Voronoi diagram based approach is used to answer ORkNN queries. In particular, for different values of k, we pre-construct only one Voronoi diagram. Algorithms on both the server and the clients are presented. We also present experimental results that suggest our proposed algorithms may have practical applications.

Comprehensive Bioinformation Analysis of the MRNA Profile of Fascin Knockdown in Esophageal Squamous Cell Carcinoma

Wu, Bing-Li,Luo, Lie-Wei,Li, Chun-Quan,Xie, Jian-Jun,Du, Ze-Peng,Wu, Jian-Yi,Zhang, Pi-Xian,Xu, Li-Yan,Li, En-Min Asian Pacific Journal of Cancer Prevention 2013 Asian Pacific journal of cancer prevention Vol.14 No.12

Background: Fascin, an actin-bundling protein forming actin bundles including filopodia and stress fibers, is overexpressed in multiple human epithelial cancers including esophageal squamous cell carcinoma (ESCC). Previously we conducted a microarray experiment to analyze fascin knockdown by RNAi in ESCC. Method: In this study, the differentially expressed genes from mRNA expression profilomg of fascin knockdown were analyzed by multiple bioinformatics methods for a comprehensive understanding of the role of fascin. Results: Gene Ontology enrichment found terms associated with cytoskeleton organization, including cell adhesion, actin filament binding and actin cytoskeleton, which might be related to fascin function. Except GO categories, the differentially expressed genes were annotated by 45 functional categories from the Functional Annotation Chart of DAVID. Subpathway analysis showed thirty-nine pathways were disturbed by the differentially expressed genes, providing more detailed information than traditional pathway enrichment analysis. Two subpathways derivated from regulation of the actin cytoskeleton were shown. Promoter analysis results indicated distinguishing sequence patterns and transcription factors in response to the co-expression of downregulated or upregulated differentially expressed genes. MNB1A, c-ETS, GATA2 and Prrx2 potentially regulate the transcription of the downregulated gene set, while Arnt-Ahr, ZNF42, Ubx and TCF11-MafG might co-regulate the upregulated genes. Conclusions: This multiple bioinformatic analysis helps provide a comprehensive understanding of the roles of fascin after its knockdown in ESCC.

Effects of Aqueous Extract of Schizandra Chinensis Fruit on Cadmium-Induced Change of Monoamine Neurotransmitters in Rats

Zhao, Zheng Lin,Zhao, Guang Wen,Li, Li,Li, Meng Quan,Guan, Li Xin,Yang, Xu Dong,Li, Hou Zhong,Lin, Feng,Lee, Jong-Rok,Zhao, Rong Jie Korean Society of ToxicologyKorea Environmental Mu 2009 Toxicological Research Vol.26 No.1

The effects of aqueous extract of Schizandra Chinensis Fruit (AESC) on cadmium-induced changes of monoamine neurotransmitters in the different brain regions of adult rats were investigated. Male rats were received intraperitoneal (i.p.) administration of CdCl2 (0.6 mg/kg/d) for 21 days and sacrificed 7 days after the last administration. Concentrations of norepinephrine (NE), dopamine (DA) in striatum and serotonin (5-HT), 5-hydroxyindole acetic acid (5-HIAA) in cortex were measured by HPLC. There were significant decreases of NE, DA, 5-HT and 5-HIAA in Cd intoxicated rats (P < 0.05), while pretreatment with AESC (20 mg/kg/d or 60 mg/kg/d, p.o., 30 min before $CdCl_2$) greatly inhibited the decrease of monoamine transmitters, respectively (P < 0.05). Also, AESC significantly increased the reduction of glutathione contents and superoxide dismutase activities in cortex induced by $CdCl_2$. These results suggest that AESC ameliorates Cd-induced depletion of monoamine neurotransmitters in brain through its antioxidant activity.

Effects of Aqueous Extract of Schizandra Chinensis Fruit on Cadmium-Induced Change of Monoamine Neurotransmitters in Rats

Zheng Lin Zhao,Guang Wen Zhao,Li Li,Meng Quan Li,Li Xin Guan,Xu Dong Yang,Hou Zhong Li,Feng Lin,Jong Rok Lee,Rong Jie Zhao 한국독성학회 2009 Toxicological Research Vol.25 No.1

The effects of aqueous extract of Schizandra Chinensis Fruit (AESC) on cadmium-induced changes of monoamine neurotransmitters in the different brain regions of adult rats were investigated. Male rats were received intraperitoneal (i.p.) administration of CdCl₂ (0.6 ㎎/㎏/d) for 21 days and sacrificed 7 days after the last administration. Concentrations of norepinephrine (NE), dopamine (DA) in striatum and serotonin (5-HT), 5-hydroxyindole acetic acid (5-HIAA) in cortex were measured by HPLC. There were significant decreases of NE, DA, 5-HT and 5-HIAA in Cd intoxicated rats (P < 0.05), while pretreatment with AESC (20 ㎎/㎏/d or 60 mg/kg/d, p.o., 30 min before CdCl₂) greatly inhibited the decrease of monoamine transmitters, respectively (P < 0.05). Also, AESC significantly increased the reduction of glutathione contents and superoxide dismutase activities in cortex induced by CdCl₂. These results suggest that AESC ameliorates Cd-induced depletion of monoamine neurotransmitters in brain through its antioxidant activity.