What Drives Fixed Asset Holding and Risk-Adjusted Performance of Corporate in China? An Empirical Analysis

This paper attempts to shed light on the over-investment debate by investigating listed firms in China. Firms with higher level of fixed asset holding, higher level of overhead expenses, and being covered by the tax-favor policy in China are found to be associated with a lower risk-adjusted performance. In addition, the tax-favor policy itself encourages fixed asset investment. In contrast to some of the previous literature, state-ownership of firms, dividend policy, and ownership concentration are not robust predictors of risk-adjusted performance, and debt level, managerial shareholding, and profit per unit of asset are not robust predictors of fixed asset investment.fixed asset holding, corporate real estate, over-investment theory, state-ownership, tax-favor policy

Multiplicity of nodal solutions for fourth order equation with clamped beam boundary conditions

In this paper, we study the global structure of nodal solutions of $$\begin{cases} u''''(x)=\lambda h(x)f(u(x)), & 0<x<1, \\ u(0)=u(1)=u'(0)=u'(1)=0,\\ \end{cases}$$ where $\lambda > 0$ is a parameter, $h\in C([0,1],(0, \infty))$, $f\in C(\mathbb{R})$ and $sf(s)>0$ for $|s|>0$. We show the existence of $S$-shaped component of nodal solutions for the above problem. The proof is based on the bifurcation technique

Characterization of blaOxA-23 gene regions in isolates of Acinetobacter baumannii

Background/purposeTo investigate the characterization of blaOxA-23 gene regions in isolates of Acinetobacter baumannii from Taizhou Municipal Hospital.MethodsFifty-nine non-repetitive, multiresistant (including imipenem-resistant) isolates of A. baumannii were recovered from clinical infections in hospitalized patients from January 2010 to August 2011 in Taizhou Municipal Hospital (affiliated with Taizhou University) in China. These isolates were genotyped using pulsed-field gel electrophoresis (PFGE). blaOxA-23 β-lactamase and associated genetic structures were analyzed using polymerase chain reaction (PCR), and recombination plasmids were analyzed by BamHI- or SacI- restriction enzyme digestion; predicted promoter structures of blaOxA-23 genes were determined and compared using protein-protein BLAST analysis.ResultsFifteen out of 59 isolates expressing imipenem-resistant A. baumannii clinical isolates acquired either a blaOxA-23 β-lactamase gene. A new gene cluster (ISAba1-blaOxA-23-AMP) with three previously identified transposons (Tn2006, Tn2007, and Tn2008) and one previously identified gene cluster (ISAba1- blaOxA-23) was found in the isolates. Recombination plasmids were analyzed by restriction enzyme digestion.ConclusionOur results indicate that pattern A was the most prevalent molecular type based on PFGE, and that different clones might be widespread with a majority of ISAba1-blaOxA-23 clonal lineages in the 15 PCR positive isolates of A. baumannii in the hospital

Association between genetic polymorphisms of cytochrome P450 2C19 and the risk of cerebral ischemic stroke in Chinese

BACKGROUND: Cytochrome P450 (CYP) 2C19 is a very important drug metabolizing enzyme. Although the single nucleotide polymorphisms (SNPs) of CYP2C19 G681A and G636A have been suggested that they may increase the incidence of cardiovascular events, the relationship between SNPs in CYP2C19 and cerebral ischemic stroke (CIS) are unclear. The aim of this study was to investigate the correlation between the distribution of G681A and G636A polymorphisms in CYP2C19 gene and the risk of CIS in Chinese. METHODS: The peripheral blood DNA was extracted from 299 patients with CIS and 295 healthy controls. The genotyping was conducted using the polymerase chain reaction-restriction fragment length polymorphism. The sampled sequencing was applied to verify the correctness of genotyping results. Both the genotype and allele distributions were compared in patients with CIS and healthy controls. RESULTS: The frequencies of CYP2C19 681AA (11.7% vs. 2.7%; P = 0.000), 636AA (4.0% vs. 0.7%; P = 0.007), 636AG (7.0% vs. 2.2%; P = 0.038) genotype, CYP2C19 681A (30.9% vs. 20.8%; P = 0.000) and 636A (13.0% vs. 5.8%; P = 0.000) allele in the CIS group are significantly higher than those in the controls. The frequencies of CYP2C19 681AA (16.7% vs. 8.6%; P = 0.036), CYP2C19 636AA (7.0% vs. 2.2%; P = 0.038) genotype, CYP2C19 681A (36.4% vs. 27.6%; P = 0.023) and CYP2C19 636A (17.5% vs.10.3%; P = 0.010) allele in the recurrent stroke group are significantly higher than those in the first onset group. Multivariate logistic regression analysis of risk factors for cerebral ischemic stroke and recurrent stroke respectively suggests that the CYP2C19 681AA genotype may be an independent risk factor for CIS (OR = 6.179, 95% CI: 2.285 ~ 16.708; P = 0.000) and recurrent stroke (OR = 2.305, 95% CI: 1.121 ~ 4.743; P = 0.023). CONCLUSIONS: The AA genotype and A allele of CYP2C19 G681A may be related to the occurrence and recurrence of cerebral ischemic stroke

Human 3D Avatar Modeling with Implicit Neural Representation: A Brief Survey

A human 3D avatar is one of the important elements in the metaverse, and the modeling effect directly affects people's visual experience. However, the human body has a complex topology and diverse details, so it is often expensive, time-consuming, and laborious to build a satisfactory model. Recent studies have proposed a novel method, implicit neural representation, which is a continuous representation method and can describe objects with arbitrary topology at arbitrary resolution. Researchers have applied implicit neural representation to human 3D avatar modeling and obtained more excellent results than traditional methods. This paper comprehensively reviews the application of implicit neural representation in human body modeling. First, we introduce three implicit representations of occupancy field, SDF, and NeRF, and make a classification of the literature investigated in this paper. Then the application of implicit modeling methods in the body, hand, and head are compared and analyzed respectively. Finally, we point out the shortcomings of current work and provide available suggestions for researchers.Comment: A Brief Surve

What Drives Fixed Asset Holding and Risk-Adjusted Performance of Corporate in China? An Empirical Analysis

This paper attempts to shed light on the over-investment debate by investigating listed firms in China. Firms with higher level of fixed asset holding, higher level of overhead expenses, and being covered by the tax-favor policy in China are found to be associated with a lower risk-adjusted performance. In addition, the tax-favor policy itself encourages fixed asset investment. In contrast to some of the previous literature, state-ownership of firms, dividend policy, and ownership concentration are not robust predictors of risk-adjusted performance, and debt level, managerial shareholding, and profit per unit of asset are not robust predictors of fixed asset investment

What Drives Fixed Asset Holding and Risk-Adjusted Performance of Corporate in China? An Empirical Analysis

This paper attempts to shed light on the over-investment debate by investigating listed firms in China. Firms with higher level of fixed asset holding, higher level of overhead expenses, and being covered by the tax-favor policy in China are found to be associated with a lower risk-adjusted performance. In addition, the tax-favor policy itself encourages fixed asset investment. In contrast to some of the previous literature, state-ownership of firms, dividend policy, and ownership concentration are not robust predictors of risk-adjusted performance, and debt level, managerial shareholding, and profit per unit of asset are not robust predictors of fixed asset investment