Corporate Social Responsibility and the Pricing of Seasoned Equity Offerings: Does Executive Firm-Related Wealth Matter?

PHAM, Hong Chuong,NGO, Duc Anh,LE, Ha Thanh,NGUYEN, Thiet Thanh Korea Distribution Science Association 2020 The Journal of Asian Finance, Economics and Busine Vol.7 No.8

This study exemines the roles of corporate social activity (CSR) and executive compensation structure on the pricing of seasoned equity offerings (SEOs) with special focus on the role of CSR in reducing the level of information asymmetry between managers and future shareholders of issuing firms through SEOs. This study also investigates the interaction between executive compensation structure and CSR on the discounting of SEOs. We use a sample of 2,102 seasoned equity offerings of U.S. firms with CSR scores from 1995 to 2015 in our OLS fixed effect regression analysis. The results show that issuing firms with high CSR are more likely to expericence a lower degree of the SEO discount. The results also document a positive association between CSR and a high proportion of equity-based compensation of issuing firms' executives. The findings of this paper confirm that CSR attenuates the impact of information asymmetry and the pre-SEO price uncertainty on the pricing of the offers and hence the SEO discount. Furthermore, CSR reinforces the impact of executive firm-related wealth on the discounting of seasoned equity offerings. It appears that firm-related wealth motivates managers to actively engage in reducing information asymmetry activities before SEOs, thereby decreasing the SEO discount.

Development of a sandwich ELISA for the detection of Listeria SPP. Using specific flagella antibodies

Yoon-Kyu Lim,Seong-Hee Kim,Min-Keun Park,Jin-Young Kim,Pham Duc Chuong,Yong- Soon Lee,윤병수,Kyu-Kye Hwang 대한수의학회 2005 Journal of Veterinary Science Vol.6 No.1

Five monoclonal antibodies (MAbs) and chicken immunoglobulin (IgY) were developed by immunizing with flagella purified from Listeria monocytogenes 4b and the five MAbs have been confirmed to be specific against three different epitopes of flagellin. The antibodies showed specific reaction to Listeria genus and no cross-reactivity with other bacteria tested in this experiment including E.coli O157:H7 and Salmonella enteritidis. Sandwich enzyme-linked immunosorbent assays (ELISA) using the MAbs and IgY were developed to detect Listeria species and the sensitivity and specificity of the developed ELISA have been analyzed. The detection limit of ELISA using MAb 2B1 and HRP labeled IgY was 1 × 105 cells/0.1 ml at 22oC and 1 × 106 cells/0.1 ml at 30oC. ELISA using the pair of MAbs (MAbs 2B1 and HRP labeled MAbs 7A3) detected up to 104 cells/0.1 ml at 22oC and 30oC. Detection limit of sandwich ELISA using IgY was 10 times lower than MAb pair. Using the developed ELISA, we could detect several Listeria contaminated in food samples after 48 h-culturing. In conclusion, both MAbs and IgY have been proved to be highly specific to detect Listeria flagella and the developed sandwich ELISA using these antibodies would be useful tool for screening Listeria spp. in food.

Development and Evaluation of an Immunochromatographic Assay for Screening Listeria spp. in Pork and Milk

Seong-Hee Kim,Jin-Young Kim,Woong Han,Byeong Yeal Jung,Pham Duc Chuong,Haejin Joo,Hoa Van Ba,Won-Geun Son,Youngheun Jee,Byoung-Su Yoon,Yong-Soon Lee,Yoon-Kyu Lim 한국식품과학회 2007 Food Science and Biotechnology Vol.16 No.4

Rapid immunochromatographic assay (ICA) kits were developed using flagella-specific monoclonal antibodies (MAbs) and rabbit polyclonal antibodies for screening Listeria spp. in food. The establishment of different formats, MAb 2B1 as capture antibody and MAb 7A3 or rabbit polyclonal antibodies as detector antibody, was compared. The 2 formats of the ICA kit were shown to have specific reactions with Listeria and no cross-reactivity with any of the non-Listeria including Escherichia coli O157:H7 and Salmonella enteritidis. The detection limits of the ICA kit using the combination of goldlabeled MAb 7A3 and MAb 2B1 showed 1×105 and 1×106 CFU/ 0.1 mL at 22 and 30oC, respectively. The other format of the ICA kit using the combination of gold-labeled rabbit polyclonal antibodies and MAb 2B1 showed 1×106 CFU/ 0.1 mL at 22oC but weak signal at 30 culture. The format utilizing MAb was more sensitive than the one using polyclonal antibodies for capture antibody. Samples contaminated with L. monocytogenes 4b culture (9-10, 5-6, and 1-2 CFU/mL) on pork and pasteurized milk were confirmed as positive results. Current data suggests that this ICA kit is a rapid, simple and effective tool to screen for Listeria spp. in food.

Thoroughbred 씨암말에서 난산과 연관된 자궁각 중첩 예

양재혁,양영진,김희석,강태영,임윤규,Yang, Jae-Hyuk,Yang, Young-Jin,Kim, Hee-Seok,Kang, Tae-Young,Pham, Duc Chuong,Lim, Yoon-Kyu 대한수의학회 2004 大韓獸醫學會誌 Vol.44 No.1

Horses that have been retired from racing or imported from abroad are retired as broodmares. Whether at private farms or government institutes they are bred to stallions with the aim of improving fertility and enhancing the breed. Accidental deaths as a result of surgical or obstetrical complications lead to decreased productivity and economic losses to the horse breeding industry. Intussusception of the uterine horn is a frequent complication of the equine and bovine species, but rarely seen in other species. The most common causes are thought to be tearing of the placenta which is suspended from the uterus and ovaries and the weight of the placenta. Expulsion of the embryonic membranes is also thought to be a contributing factor. If symptoms are minor and treatment affected quickly, the problem will likely resolve itself. In more severe cases the uterus will prolapse completely. This case study was observed in a Thoroughbred broodmare. After treatment of dystocia, the broodmare could not stand up. She became dehydrated, collapsed, suffered colic and was euthanised. In this case was observed serious swelling vulva and perineal region by morphology, and there was seldom ascites and unusual view in thoracic and abdominal cavity after opening abdomen. However, intussusception of uterine horn involuted left uterine horn into the uterine body was observed.

Thoroughbred 포유 망아지에서 Ascarid Impaction 1례

양재혁,양영진,김성희,정종태,이경갑,우호춘,황규계,임윤규,Yang, Jae-Hyuk,Yang, Young-Jin,Kim, Sung-Hee,Chuong, Pham Duc,Cheong, Jong-Tae,Lee, Kyoung-Kap,Woo, Ho-Choon,Hwang, Kyu-Kye,Lim, Yoon-Kyu 대한수의학회 2004 大韓獸醫學會誌 Vol.44 No.4

A variety of enteric deseases may result in the manifestation of abdominal pain in horse. An acute colic in a 5-month-old Thoroughbred filly is described. The filly was presented with acute colic characterized by rolling and pawing. Next day she suffered from severe abdominal pain and subsequently died. Post mortem examination revealed very heavy ascarid, Parascaris equorum (P. equrum) infection in cmall intestine. In addition, it is also noted the presence of P. equorum in the stomach. Infection due to P. equorummanifests itself in foals between 6-8weeks and one year of age. P. equorum is a common and ubiquitous parasite that persists for many years in stables and on pasture in spite of good hygiene and anthelmintic control programs.

마우스 소장 crypt cell에서 방사선 조사에 의해 유도된 apoptosis의 조절

박상준(Sang-Joon Park),정규식(Kyu-Shik Jeong),김태환(Tae-Hwan Kim),임윤규(Yoon-Kyu Lim),박현정(Hyun-Jeong Park),Pham Duc Chuong,지영흔(Young-Heun Jee) 한국실험동물학회 2004 Laboratory Animal Research Vol.20 No.3

Apoptosis에서의 p53 단백질의 관련성에 관해서는 많은 세포들에서 잘 알려져 있다. 그러나 생체내에서 방사선에 의한 apoptosis를 유도하는 기전과 p53의 관계에 대해서는 명확하지 않다. 본 연구에서는 방사선을 조사한 mouse 소장의 crypt cell에서 선량의 증가에 따른 apoptosis의 양상과 이에 따른 apoptosis 기전을 밝히고자 하였다. 소장 crypt cell에서의 유도된 apoptosis의 빈도는 방사선 조사 후 시간의 경과와 선량의 증가에 의존적이었다. 소장 crypt cell에서의 apoptotic cell의 수는 방사선 조사 후 4-6시 간에 최고치를 나타내었고, 24-48시간 후에는 점차적으로 감소하여 72시간 후에는 현저히 감소되었다. 또한 방사선의 선량의 증가에 따라 소장 crypt cell에서의 apoptotic cell의 수가 현저히 증가하였으며, Western blot analysis에서는 apoptosis의 빈도와 비례하여 선량의 증가에 따른 p53의 발현의 증가를 관찰할 수 있었다. 이상의 결과로부터 생체내에서 방사선에 의해 소장 crypt cell에서 유도된 apoptosis는 p53의 발현과 밀접한 관련이 있음을 알 수 있었다. The involvement of the p53 gene in apoptosis of many cell types is well established. However, little information is available on the relationship between p53 status and their ability to undergo apoptosis following exposure to y-radiation in vivo. The aim of this study was to characterize the apoptotic pathway by γ-radiation in mouse intestinal crypt cells. After ⁶⁰Co γ-ray irradiation, the apoptosis in crypt cells showed a time- and dose-dependent increase. The apoptosis in crypt cells was maximal at 4 and 6hours after irradiation, showed a gradual decline at 24 hours and 48 hours, and was almost absent by 72hours. In addition, the number of apoptotic cells increased sharply with increasing dose of ⁶⁰Co γ-ray. In Western blot analysis, the apoptosis was confirmed to be dependent on p53 function after ⁶⁰Co γ-ray irradiation. In parallel with frequency of apoptosis in crypt cells, p53 expression showed the increased dose-dependent response in intestinal crypt cells. There was a significant correlation between the frequency of apoptosis and the increase of p53 expression in crypt cells. These findings suggest that ⁶⁰Co γ-ray-induced apoptosis in mouse intestinal crypt cells is related to the increase in functional p53 proteins to a level sufficient to initiate apoptosis.