4,782 research outputs found
THE FAMILY OWNERSHIP AND FIRM PERFORMANCE IN CHINA:Evidence from Shenzhen Stock Exchange
The family ownership structure is widespread at present and substantial family corporations exist now all over the world, especially in Asia where a strong sense of family exists. However, whether the family ownership structure can improve company performance is still controversy. To find out how family ownership management structure affects corporations in China is the main objective of this thesis. This thesis investigates why family companies perform different further.
The analysis in this paper is conducted by selecting sample from Shenzhen Small and Medium Enterprise Board from 2009 to 2013. Both accounting measures and market measure are used to examine the company performance. In the empirical part, the correlation between family ownership and company performance is demonstrated. Besides, relations between characteristics of family enterprises and company performance are illustrated.
The results imply that family ownership structures have positive influences in company governances in China. Family companies perform better than nonfamily companies, which is similar to most prior studies. Further analysis indicates that correlations in family CEOs and family company performances are negative. And family companies, with the multiple large shareholder structure, have worse performance than without it. These two results are opposite to previous empirical studies. However, the ratio of family holdings has no effects on the family company performance.
In short, family ownership structure is an efficient management structure in China.fi=Opinnäytetyö kokotekstinä PDF-muodossa.|en=Thesis fulltext in PDF format.|sv=Lärdomsprov tillgängligt som fulltext i PDF-format
Credit Risk Management of P2P Network Lending
This article first studies the literature of P2P online loans, including online loans, credit risk factors and models, and summarizes the current status of P2P and credit risk assessment management in China. Based on the loan data of domestic P2P lending platforms, this paper conducts an empirical study on credit risk assessment. This study uses random forest importance assessment and logistic regression classification for credit risk assessment to identify loan targets with higher probability of default and improve overall loan quality. This research used 10,930 loan data, based on 26 fields, and finally selected 20 model variables to participate in credit risk quantification through feature structure and feature analysis. The final modelling test results show that the model screening accuracy rate is 73.3%, indicating that this model has a good performance in the credit risk quantification of borrowers
Mast Cells and Nerve Signal Conduction in Acupuncture
Nerve and mast cells are densely distributed around acupoints in connective tissue. To explore the internal relations between them in acupuncture effect, we examined dorsal root potential (DRP) response to acupuncture at Zusanli (ST36) under sodium cromoglicate (DSCG, a mast cell stabilizer) intervention in anesthetized Sprague-Dawley (SD) rats. We used single unit nerve recording techniques to collect nerve signals from DRP afferent nerves for a 45-minute period that includes 4 stages, that is, base, drug absorption, acupuncture, and recovery stages. We analyzed the recorded signals from time-domain and frequency-domain perspectives. The results showed that once acupuncture needle was inserted, twisting needle excited more nerves discharges than those at base discharges in ACU (from 35.1 ± 7.2 to 47 ± 9.2 Hz, P=0.004), and there existed the same trend in Saline + ACU group (from 23.8 ± 2.6 to 29.8 ± 4.2 Hz, P=0.059). There was no change of nerve discharges under twisting needle with injection of DSCG (from 34.8 ± 5.3 to 34.7 ± 4.4 Hz, P=0.480). We conclude that acupuncture manipulation promotes neural signal production and DSCG could partly inhibit nerve discharges
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