Initial Public Offering and Corporate Governance in China's Transitional Economy

This paper empirically investigates the performance of Chinese initial public offerings (IPOs). The data used covers the period from mid-1995 to mid-1999 with the sample including 884 companies (both in the A- and B-share markets). In an examination of growth, profitability and stability of listed companies either individually or as a combination, it can be seen that the only industries in which listed companies in China display strong performance are public utilities, transportation and finance. If one examines the changes in listed companies' financial indicators following the IPO, it becomes apparent that with the exception of earnings related indicators (EPS and ROE) there are no significant changes. What's more, the financial indicators tend to fall rapidly year on year. This means that the IPO is of little obvious help to companies' operational performance, and may actually make things worse. One of the reasons for this is that in order to implement the IPO and secure stock market listing, companies tend to submit inflated figures in the financial statements that they are required to provide. Another possible factor is the poor corporate governance characteristics of Chinese enterprises.

Understanding Clients’ Intentions to Explore Software-as-a-Service (SaaS) Features: A Social Capital Theory Perspective

The pervasive post-adoption of on-demand software-as-a-service (SaaS) products via the Internet has provided clients with sufficient convenience and functional flexibility to rent and build the multifunctional services they require. Prior research has called for a deeper understanding of how client firms encourage the exploration of SaaS applications in the workplace. However, exploring the best service combinations depends on the clients’ socially related motivation. Hence, we draw on social capital theory in this study to examine clients’ intentions to explore new SaaS service features. We use service quality to complement structural capital as an indicator, as it is more suitable for assessing the service structure of systems. Drawing on a sample of 246 employees in the IT service departments of small- and medium-sized companies in Taiwan, we generate the following empirical results. First, most of the main effect paths only show significant positive signs for the effect of relational capital on the intention to explore, and the effect of environmental quality on social capital is not supported. Second, we rebuild the mediation model to test the non-supported hypotheses and find that relational capital partially mediates the relationship between service quality and the intention to explore. The theoretical and practical implications of these findings are discusse

Examining The Factors That Affect ERP Assimilation

The aim of this study is to identify the factors that influence the assimilation of enterprise resource planning (ERP) systems in the post-implementation stage. Building on organizational information processing theory (OIPT) and absorptive capacity (AC), we propose an integrated model, which examines the relationship among organizational fit, absorptive capacity, environmental uncertainty, and ERP assimilation. Based on the survey data from 98 firms that have implemented ERP, most of the proposed hypotheses were supported, showing that initial fit, potential AC, realized AC, and heterogeneity jointly affect ERP assimilation. Task uncertainty (hostility and heterogeneity) negatively moderates the relationship between initial fit and ERP assimilation. The implications for both theory and practice are discussed

Understanding Outsourcing Commitment—An Integrated Model Combining The Resoruce-Based View And Knowledge Management

The understanding on how a service provider’s (SP) process capabilities, in terms of aligning and adapting resources to deliver value to its service recipient (SR) in business process outsourcing (BPO), affect its commitment is limited. To address this, building on a strategic perspective and related theories such as the resource-based view and knowledge management, we develop a theoretical model and test it empirically. Specifically, we posit that a SP’s process capabilities, in terms of process alignment, offering flexibility, and partnering flexibility, positively affect its SR’s commitment and the above relationships is negatively moderated by the SR’s behavior control. Besides, we also examine the influence of interaction effect between antecedents of process capabilities on commitment, such as how does process alignment interact with its partnering flexibility and offering flexibility to affect commitment. Finally, we assess whether process capabilities are influenced by the SR’s absorptive capacity and the SP’s task-knowledge coordination. We test our model using survey data collected from 183 firms, supporting most proposed hypotheses. We discuss the theoretical and practical implications of how to increase the value offered to a SR by levering resources, in terms of process capabilities and knowledge management

UNDERSTANDING POST-ADOPTION OF ONLINE SHOPPING CONTINUANCE USAGE THROUGH THE SOCIAL EXCHANGE THEORY

Electronic commerce researchers have retention of Consumers post-adoption continuance behavior attendees induce deep trust and service quality of online shopping behavior, thereby contributing to higher revenue and marketing strategy based on social exchange theory. This study provides additional information about the path from the service quality and trust to continuous usage. Also, this study investigates the different tendencies to continuance behavior by habit as a moderating effect within the conceptual model. According to the structural invariance test across moderating effect, it showed that: First, most of main effect paths showed significant positive signs only habit as moderator on trust in service provider is negative support. Second, the habit was supported as a moderator except for the trust in shopping-site to online shopping continuance interaction path. Unexpectedly, the positive moderating effect of habit tendency towards the path of trust in shopping-site to online shopping continuance in not significant. The theoretical and practical implications are discussed

A Comparison of Food-grade Folium mori Extract and 1-Deoxynojirimycin for Glycemic Control and Renal Function in Streptozotocin-induced Diabetic Rats

ABSTRACTFolium mori (桑葉 Sāng Yè, leaf of Morus alba L.; FM) is known to possess hypoglycemic effects, and 1-deoxynojirimycin (1-DNJ) has been proposed as an important functional compound in FM. However, the hypoglycemic activity of purified 1-DNJ has been rarely studied. It is also not known how FM and 1-DNJ affect the development of DM nephropathy. This study compared the antidiabetic effect of a commercial FM product with that of purified 1-DNJ in streptozotocin-induced diabetic rats. Seven days after induction, the diabetic rats were gavaged with FM (1, 3, 10, and 30mg/kg/day), 1-DNJ (30mg/kg/day), or vehicle (distilled deionized water; 2ml/kg/day) for 7days. All doses of FM ameliorated fasting and post-prandial blood glucose concomitantly with an increase in peripheral and pancreatic levels of insulin and improved homeostasis model assessment (HOMA-IR) in diabetic rats in a dose-dependent manner. Increased thiobarbituric acid reactive substances (TBARS) and nitrate/nitrite levels in the kidney, liver, and muscle of diabetic rats were reversed by all doses of FM. The renal function of the diabetic rats was normalized by all doses of FM, while blood pressure changes were reversed by FM at doses of 3mg/kg and above. Moreover, most of the above-mentioned parameters were improved by FM at doses of 3mg/kg and above to a similar extent as that of 1-DNJ. The results showed superior antidiabetic potential of the commercial FM product for glycemic control and protection against the development of diabetic nephropathy

UNDERSTANDING COMPETITIVE PERFORMANCE OF SOFTWARE-AS-A-SERVICE (SAAS)—THE COMPETITIVE DYNAMICS PERSPECTIVE

Understanding the antecedents and consequences of a firm’s agility in cloud software applications is important. This papers draws on the competitive dynamics perspective to develop a model that explains the relationships between collaboration with vendors, agility, and competitive performance in software-as-a-service (SaaS) context. Collaboration reflects a firm’s ability to leverage interfirm resources, characterized as knowledge sharing and process alignment. Agility is measured by a firm’s strategy-oriented agility and service-oriented agility. This study also investigates the moderating effect of environmental turbulence. The proposed hypotheses are supported by the empirical data. The results show that competitive performance is affected by ability, which, in turn, is impacted by collaboration. Environmental turbulence positively moderates the relationship between agility and performance. Finally, we discuss the implications of our results

Significant Inhibition of Tumor Growth following Single Dose Nanoparticle-Enhanced Photodynamic Therapy

Photodynamic therapy (PDT) for cancer treatment involves the pathology’s uptake of photosensitizers, which produce cytotoxic reactive oxygen species by photoirradiation. The use of nanoparticles as carriers of photosensitizers is one promising approach to this endeavor, owing to their small size, unique physicochemical properties, and easy/diverse functionalization. In the current work, we report on the in vivo assessment of PDT efficacy of these nanoconstructs in a murine model of human breast cancer, following a single (one-shot) nanoparticle dose and photoirradiation. Palladium-porphyrin (PdTPP) was administered intratumorally via injection of aqueous suspensions of either free PdTPP or MSN-conjugated PdTPP (MSN-PdTPP) at a dose of 50 μg. Mice were then exposed to a single photoirradiation session with total energy of 80 J. One month after one-shot PDT treatment, significantly greater reductions in tumor growth were observed in MSN-Pd treated animals than in PdTPP cohorts. Electron microscopy of tumor specimens harvested at various timepoints revealed excellent MSN-PdTPP uptake by cancer cells while immunohistologic analysis demonstrated marked increases in apoptotic response of MSN-PdTPP treated animals relative to PdTPP controls. Taken together, these findings suggest that considerable improvements in PDT efficacy can readily be achieved via the use of nanoparticle-based photosensitizers

Effects of HIP Treatment on the Microstructure of Cr50-Si50 Target

Hot Isostatic Pressing (HIP) is a process that uniquely combines higher pressure and temperature to produce materials and parts with substantially better properties than those fabricated by other methods. Commercial as-hp (hot pressing) treated Cr50-Si50 targets are used throughout this study. The aim of this paper is to discuss the methods and to find a suitable HIP treatment for the as-hp treated Cr50-Si50 target. Otherwise, we also to find the effects of microstructure on the mechanical properties of HIP treated Cr50-Si50 target. To evaluate the effects on microstructure and properties of the Cr50-Si50 target by HIP process, SEM, TEM and porosity, density inspections were performed. The experiment results show that HIP treatment at 1373 K under the pressure of 175 MPa and 4 hours for Cr50-Si50 target is the optimum condition. In this study, HIP treatment reduced the porosity of the target about 60%