Corporate social responsibility, business groups and financial performance: a study of listed Indian firms

This study explores the relationship between corporate social responsibility (C.S.R.) and financial performance of Indian firms. We also examine the relationship between C.S.R. and financial performance in context of Indian business group firms, which are known to have unique characteristics which differ from those of Indian stand-alone firms. Using a sample of Indian listed firms between 2010 and 2015, we find that C.S.R., as measured by E.S.G. disclosure score, has a U-shaped relationship with Tobin’s Q, supporting the slack resource theory at lower level of CSR and supporting the stakeholder theory at higher level of C.S.R. The empirical results imply that an improvement in CSR actions does not always result in higher firm value but should exceed a certain level of C.S.R. to have a positive effect on firm value. In addition, we find that at lower level, a negative relationship between C.S.R. and Tobin’s Q weakens in group affiliate firms. However, this complement effect of business group disappears at higher level, weakening the positive relationship between C.S.R. and Tobin’s Q. This study offers new insights for the different influence of business groups on C.S.R. performanc

Effect of ownership change and growth on firm value at the issuance of bonds with detachable warrants

This paper empirically explores the relationship between the issuance of bonds with detachable warrants and firm value and the relationship between growth and firm value at the issuance of such bonds. Twelve years of data for 721 issuances of 451 Korean listed firms are analyzed using a panel regression model. We find that at the issuance of bonds with detachable warrants, the change in firm value is strongly correlated with large shareholder ownership concentration and issuance form, and the effect of growth on firm value is strongly correlated with the cash flow condition of the issuing firm. The results indicate that the ownership structure and the cash flow condition of the issuing firm and the form of issuance are important determinants of the relationship between the issuance of bonds with detachable warrants and firm value; these results are applicable to an analysis of the mixed market reactions of convertible bonds or bonds with warrants issues across different countries. They also offer the policy implication that the Korean government’s decision to entirely prohibit firms from issuing bonds with detachable warrants may have been excessive

Epigenetic targeting of Hedgehog pathway transcriptional output through BET bromodomain inhibition

Hedgehog signaling drives oncogenesis in several cancers and strategies targeting this pathway have been developed, most notably through inhibition of Smoothened. However, resistance to Smoothened inhibitors occurs via genetic changes of Smoothened or other downstream Hedgehog components. Here, we overcome these resistance mechanisms by modulating GLI transcription via inhibition of BET bromodomain proteins. We show the BET bromodomain protein, BRD4, regulates GLI transcription downstream of SMO and SUFU and chromatin immunoprecipitation studies reveal BRD4 directly occupies GLI1 and GLI2 promoters, with a substantial decrease in engagement of these sites upon treatment with JQ1, a small molecule inhibitor targeting BRD4. Globally, genes associated with medulloblastoma-specific GLI1 binding sites are downregulated in response to JQ1 treatment, supporting direct regulation of GLI activity by BRD4. Notably, patient- and GEMM-derived Hedgehog-driven tumors (basal cell carcinoma, medulloblastoma and atypical teratoid/rhabdoid tumor) respond to JQ1 even when harboring genetic lesions rendering them resistant to Smoothened antagonists

The relationship between resident satisfaction and apartment forms: a case study in the Seoul Metropolitan Area, Korea

Thesis (Ph. D.)--University of Washington, 1999The major objective of this research is to study the relationship between apartment forms and resident satisfaction in the Seoul metropolitan area. To achieve this objective, the study has followed three steps. The first is to investigate typo-morphological characteristics of apartment forms in the Seoul metropolitan area; the second, to survey resident satisfaction with different apartment forms; the third step, to discover the important factors affecting resident satisfaction with apartment forms by using statistical analyses.This study found that most personal and physical variables studied are not significantly related to the level of satisfaction with apartment forms. Among those variables, dwelling unit type, building siting, and income are significantly related to satisfaction. However, these objective variables are somewhat weaker predictors of satisfaction compared to other significant subjective evaluation variables. Dwelling unit type appears to be related only to satisfaction with the medium unit.As regards satisfaction with the dwelling unit, the evaluation of Anbang, bathroom and utility room size was found to have a very important influence on satisfaction in the small unit; the evaluation of living room and dining space size together with dwelling unit type in a medium unit; the evaluation of the living room location, dining space size, and utility room size in the large unit.The evaluation of visual privacy, building siting, and auditory privacy have proved important variables in accounting for satisfaction with the apartment building, while the evaluation of open space, parking lot and playground size were major predictors of satisfaction with the space around or between buildings

Zebrafish model of KRAS-initiated pancreatic endocrine tumor

Pancreatic cancer constitutes a genetic disease in which somatic mutations in the KRAS proto-oncogene are detected in 95% of cases. Activation of the KRAS proto-oncogene represents an initiating event in pancreatic tumorigenesis. Here, we established a zebrafish pancreatic neoplasia model that recapitulates human pancreatic tumors. Toward this end, we generated a stable CRE/Lox-based zebrafish model system to express oncogenic KRASG12D  in the elastase3I domain of the zebrafish pancreas. Lineage tracing experiments showed that early KRASG12D -responsive pancreatic progenitors contribute to endocrine in addition to exocrine cells. In this system, 10% and 40% of zebrafish developed pancreatic tumors by 6 and 12 months, respectively. The histological profiles of these experimental tumors bore a striking resemblance to those of pancreatic endocrine tumors. Immunohistochemical analysis including the endocrine cell-specific marker confirmed the pancreatic tumor region as a characteristic endocrine tumor. Taken together, our zebrafish model data revealed that pancreatic endocrine tumors originate from early KRASG12D -responsive pancreatic progenitor cells. These findings demonstrated that this zebrafish model may be suitable as an experimental and preclinical system to evaluate different strategies for targeting pancreatic endocrine tumors and ultimately improve the outcome for patients with pancreatic endocrine tumors

Extracellular Vesicles in Acute Kidney Injury and Clinical Applications

Acute kidney injury (AKI)––the sudden loss of kidney function due to tissue damage and subsequent progression to chronic kidney disease––has high morbidity and mortality rates and is a serious worldwide clinical problem. Current AKI diagnosis, which relies on measuring serum creatinine levels and urine output, cannot sensitively and promptly report on the state of damage. To address the shortcomings of these traditional diagnosis tools, several molecular biomarkers have been developed to facilitate the identification and ensuing monitoring of AKI. Nanosized membrane-bound extracellular vesicles (EVs) in body fluids have emerged as excellent sources for discovering such biomarkers. Besides this diagnostic purpose, EVs are also being extensively exploited to deliver therapeutic macromolecules to damaged kidney cells to ameliorate AKI. Consequently, many successful AKI biomarker findings and therapeutic applications based on EVs have been made. Here, we review our understanding of how EVs can help with the early identification and accurate monitoring of AKI and be used therapeutically. We will further discuss where current EV-based AKI diagnosis and therapeutic applications fall short and where future innovations could lead us