X-efficiency versus rent seeking in Chinese banks: 1997-2006

This study demarcates cost-inefficiency in Chinese banks into X-inefficiency and rent-seeking-inefficiency. A protected banking market not only encourages weak management and X-inefficiency but also public ownership and state directed lending encourages moral hazard and bureaucratic rent seeking. This paper uses bootstrap non-parametric techniques to estimate measures of X-inefficiency and rent-seeking inefficiency for the 4 state owned banks and 10 joint-stock banks over the period 1997-2006. The paper adjusts for the quality of loans by treating NPLs as a negative output. The paper shows that Chinese banks have reduced cost inefficiency and reduced X-inefficiency at a faster rate than rent-seeking inefficiency

The dynamical transition in proteins and non-Gaussian behavior of low frequency modes in Self Consistent Normal Mode Analysis

Self Consistent Normal Mode Analysis (SCNMA) is applied to heme c type cytochrome f to study temperature dependent protein motion. Classical Normal Mode Analysis (NMA) assumes harmonic behavior and the protein Mean Square Displacement (MSD) has a linear dependence on temperature. This is only consistent with low temperature experimental results. To connect the protein vibrational motions between low temperature and physiological temperature, we have incorporated a fitted set of anharmonic potentials into SCNMA. In addition, Quantum Harmonic Oscillator (QHO) theory has been used to calculate the displacement distribution for individual vibrational modes. We find that the modes involving soft bonds exhibit significant non-Gaussian dynamics at physiological temperature, which suggests it may be the cause of the non-Gaussian behavior of the protein motions probed by Elastic Incoherent Neutron Scattering (EINS). The combined theory displays a dynamical transition caused by the softening of few "torsional" modes in the low frequency regime (< 50cm-1or 0.6ps). These modes change from Gaussian to a classical distribution upon heating. Our theory provides an alternative way to understand the microscopic origin of the protein dynamical transition.Comment: 17 pages, 6 figures, 1 tabl

Rational inefficiency and non-performing loans in Chinese banking: a non-parametric bootstrapping approach

The existing Chinese banking system was born out of a state-planning framework focussed on the funding of state-owned enterprises. Despite the development of a modern banking system, numerous studies of Chinese banking point to its high level of average inefficiency. Much of this inefficiency relates to the high level of non-performing loans held on the banks books. This study argues that a significant component of inefficiency relates to a defunct bureaucratic incentive structure. Using bootstrap non-parametric techniques the paper decomposes cost-inefficiency into X-inefficiency and rational inefficiency caused by bureaucratic rent seeking. In contrast to other studies of the Chinese banking sector, the paper argues that a change in the incentive structure and the competitive threat of the opening up of the banking market in 2007 has produced reduced inefficiency and improved performance

Non-performing loans and productivity in Chinese banks: 1997-2006

This study examines the productivity growth of the nationwide banks of China over the ten years to 2006. Using a bootstrap method for the Malmquist index estimates of productivity growth are constructed with appropriate confidence intervals. The paper adjusts for the quality of the output by accounting for the non-performing loans on the balance sheets and test for the robustness of the results by examining alternative sets of outputs. The productivity growth of the state-owned banks is compared with the Joint-stock banks and it determinants evaluated. The paper finds that average productivity of the Chinese banks improved modestly over this period. Adjusting for the quality of loans, by treating NPLs as an undesirable output, the average productivity growth of the state-owned banks was zero or negative while productivity of the Joint-Stock banks was markedly higher

Bank efficiency in China, rent seeking versus X-inefficiency: a non-parametric bootstrapping approach

This study demarcates cost-inefficiency in Chinese banks into X-inefficiency and rent-seeking-inefficiency. A protected banking market not only encourages weak management and X-inefficiency but also public ownership and state directed lending encourages moral hazard and bureaucratic rent seeking. This paper uses bootstrap non-parametric techniques to estimate measures of X-inefficiency and rent-seeking inefficiency for the 4 state owned banks and 11 joint-stock banks over the period 1997-2004. In contrast to other studies of the Chinese banking sector, the paper argues that reduced inefficiency is an indicator that the competitive threat of the opening up of the banking market in 2007 has produced tangible benefits in improved performance. This paper finds evidence of declining trend in both types of inefficiency

High temperature strain heterogeneities tracking within hole-specimens of fv566 turbine steel via digital image correlation

This paper presents experimental and numerical investigations to study spatial-temporal distributions of strain heterogeneities within a FV566 turbine rotor steel subjected to high temperature conditions. Strain field were determined during monotonic tensile tests performed on flat specimens containing a circular hole to give rise to heterogeneous strain fields. A home-made digital image correlation system with an image restoration module was developed and employed to record and analyse the deformation process till the macroscopic fracture of the investigated specimens. Noticeable in-plane strain concentration zones and effects of the sample design were highlighted and deeply examined. Experimental results combined with finite element analyses based on a classical Johnson-Cook model indicated that the hole shape was the important factor affecting the strength and the spatio-temporal distribution of the strain fields. Microstructural investigations were also conducted to characterize and assess the microscale damage features of the FV566 steel. The ruptured area for all the investigated temperature tests revealed ductile rupture behaviour. Changes on grain boundaries and misorientation near strain localized regions were also investigated. It was found that the propagation of cracks surrounding the hole in FV566 specimens was mainly affected by the nucleation and propagation of strain localization zones.AVIC (Chine), CSC (Chine

Effect of light- and dark-germination on the phenolic biosynthesis, phytochemical profiles, and antioxidant activities in sweet corn (Zea mays L.) sprouts

Sweet corn is one of the most widely planted crops in China. Sprouting of grains is a new processes to increase the nutritional value of grain products. The present study explores the effects of light on the nutritional quality of sweet corn sprouts. Gene expression of phenolic biosynthesis, phytochemical profiles and antioxidant activity were studied. Two treatments (light and dark) were selected and the morphological structure of sweet corn sprouts, as well as their biochemical composition were investigated to determine the effects of light on the regulation of genes responsible for nutritional compounds. Transcription analyses for three key-encoding genes in the biosynthesis of the precursors of phenolic were studied. Results revealed a negative regulation in the expression of ZmPAL with total phenolic content (TPC) in the light group. TPC and total flavonoid content (TFC) increased during germination and this was correlated with an increase in antioxidant activity (r = 0.95 and 1.0). The findings illustrate that the nutritional value of sweet corn for the consumer can be improved through germination to the euphylla stage

α-lipoic acid regulate growth, antioxidant status and lipid metabolism of Chinese mitten crab Eriocheir sinensis: Optimum supplement level and metabonomics response

© 2019 Elsevier B.V. This manuscript version is made available under the CC-BY-NC-ND 4.0 license: http://creativecommons.org/licenses/by-nc-nd/4.0/ This author accepted manuscript is made available following 24 month embargo from date of publication (March 2019) in accordance with the publisher’s archiving policyThe α-lipoic acid (α-LA) is a novel feed additive to improve growth, antioxidant capacity and lipid metabolism in animal husbandry. In this study, isonitrogenous and isoenergetic diets were formulated at seven levels of α-LA (0, 300, 600, 1200, 2400, 4800, or 9600 mg/kg) and fed to the Chinese mitten crab Eriocheir sinensis juveniles for eight weeks. According to weight gain and specific grwoth rate, the optimal level of α-LA supplement in the diet is estimated at 1339–1574 mg/kg for E. sinensis. The α-LA supplement significantly increased the activities of SOD, GSH-Px and T-AOC, and the content of GSH in the hepatopancreas except for SOD in the crabs fed 9600 mg/kg α-LA. Excess dietary α-LA supplement increased the content of MDA in the hepatopancreas. The E. sinensis fed 2400 mg/kg α-LA in the diet showed the highest mRNA expressions of es_TGL1, es_TGL2, es_IL and es_DGL and had higher lipid catabolism when taking 300 mg/kg α-LA than other diets, which coincides with higher mRNA expressions of es_IL, es_DGL and CPT-1 in the hepatopancreas. The crab fed 2400 mg/kg α-LA significantly modified 45 metabolites in serum compared with the control. The supplmentation of α-LA significantly influenced fatty acid metabolism, amino acid metabolism, carnitine metabolism and accumulation of plant antioxidants. This study indicates that α-LA is a promising feed additive to regulate growth, antioxidant status and lipid metabolism in E. sinensis, but its inclusion in the diet should be <2400 mg/kg α-LA to maximize the benefitial effect and minimize side effects

SIJUNZI DECOCTION DEMOLITION PARTIES INHIBIT PROLIFERATION AND INDUCE APOPTOSIS OF HUMAN GASTRIC CANCER BGC823 SIDE POPULATION

Background: Comprehensive treatment combining with Chinese medicine has become the main therapeutic regimen of gastric cancer. Previous evidence demonstrated SD can enhance the effect of chemotherapy in advanced cancer, especially in gastric cancer. In order to investigate the anticancer mechanism of SD in gastric cancer, we observed the effects of SD parties (Ginseng, Atractylodes, Poria, Licorice) on proliferation and apoptosis of SP of human gastric cancer BGC-823. Materials and Methods: 1. BGC-823 side population cells were sorted through flow cytometry. 2. To detect the changes of proliferation of SP and NSP before and after the intervention of serum containing SD parties using cck-8 method. 3. To detect the changes of cell cycle and apoptosis of SP and NSP before and after the intervention of serum containing SD parties through flow cytometry. 4. To detect the effects of serum containing SD parties on apoptosis-related proteins Bax and Bcl-2 of SP and NSP before and after the intervention by western-blot. Results: It was found that four demolition parties serum treatments inhibited cell proliferation in a time-dependent manner. Compared with the control group (normal saline treatment), there were increase in G1/G0 phase population of SP and NSP, and decrease in G2/M and S phase population (