This paper provides evidence that venture capital (VC) syndication creates value for entrepreneurial firms in two dimensions. First, VC syndication creates product market value for their portfolio ...firms. Specifically, VC syndicates invest significant amounts in younger firms, in earlier financing rounds, and in early stage firms. Further, VC syndicates nurture innovation of their portfolio firms and help them achieve better post-initial public offering operating performance. Second, VC syndication creates financial market value for their portfolio firms. Specifically, VC syndicate-backed firms are more likely to have a successful exit, enjoy a lower initial public offering (IPO) underpricing, and receive a higher IPO market valuation. The findings are robust to a variety of alternative syndication measures, subsamples, econometric models, and controlling for endogeneity in VC syndication.
Does banking competition affect innovation? Cornaggia, Jess; Mao, Yifei; Tian, Xuan ...
Journal of financial economics,
January 2015, 2015-01-00, 20150101, Letnik:
115, Številka:
1
Journal Article
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Odprti dostop
We exploit the deregulation of interstate bank branching laws to test whether banking competition affects innovation. We find robust evidence that banking competition reduces state-level innovation ...by public corporations headquartered within deregulating states. Innovation increases among private firms that are dependent on external finance and that have limited access to credit from local banks. We argue that banking competition enables small, innovative firms to secure financing instead of being acquired by public corporations. Therefore, banking competition reduces the supply of innovative targets, which reduces the portion of state-level innovation attributable to public corporations. Overall, these results shed light on the real effects of banking competition and the determinants of innovation.
In this paper, we document a positive effect of supplier–customer geographic proximity on supplier innovation. To establish causality, we explore plausibly exogenous variation in proximity caused by ...customer relocations. The positive effect of supplier–customer proximity on supplier innovation is stronger when customers are more innovative themselves, when suppliers and customers are closer in technological space, and when customers’ demand accounts for a larger fraction of suppliers’ total sales. These findings suggest that the feedback channel and the demand channel are likely underlying mechanisms through which supplier–customer proximity affects supplier innovation. Overall, our paper sheds new light on the real effect of supplier–customer relationship on corporate innovation.
This paper was accepted by Gustavo Manso, finance.
We aim to tackle the longstanding debate on whether stock liquidity enhances or impedes firm innovation. This topic is of interest because innovation is crucial for firm- and national-level ...competitiveness and stock liquidity can be altered by financial market regulations. Using a difference-in-differences approach that relies on the exogenous variation in liquidity generated by regulatory changes, we find that an increase in liquidity causes a reduction in future innovation. We identify two possible mechanisms through which liquidity impedes innovation: increased exposure to hostile takeovers and higher presence of institutional investors who do not actively gather information or monitor.
Currently, popularity based recommendation has become a research hotspot. The use of popularity considerably improves the recommendation effects, while the Matthew effect caused by popularity bias ...has also garnered extensive attention among researchers. Some researchers consider combining both aspects to produce hybrid popularity based recommendation. Adopting the concept of popularity, a unified representation of popularity, popularity bias, and hybrid popularity is provided in this paper. Firstly, the background of popularity in the field of recommendation is introduced. Then, based on different perspectives, a comprehensive survey on popularity-enhanced recommendation methods, popularity debias recommendation methods, and hybrid popularity based recommendation methods is provided. Each type of method is further subdivided in specific subtasks of modeling or concrete strategies. The representative models of each method are introduced and analyzed, and their advantages and limitations are evaluated. The mech
There is growing evidence that tripartite motif-containing protein 44 (TRIM44) plays crucial role in tumor development. However, the underlying mechanism of this deubiquitinating enzyme remains ...unclear.
Large clinical samples were used to detect TRIM44 expression and its associations with clinicopathological features and prognosis. Gain- and loss-of-function experiments in cell lines and mouse xenograft models were performed to elucidate the function and underlying mechanisms of TRIM44 induced tumor progression. Co-immunoprecipitation (Co-IP) assays and mass spectrometric analyses were applied to verify the interacting proteins of TRIM44.
We found that TRIM44 was commonly amplified in melanoma tissues compared with paratumoral tissues. TRIM44 expression also positively correlated with more aggressive clinicopathological features, such as Breslow depth (p = 0.025), distant metastasis (p = 0.012), and TNM stage (p = 0.002). Importantly, we found that TRIM44 was an independent indicator of prognosis for melanoma patients. Functionally, overexpression of TRIM44 facilitated cell invasion, migration, apoptosis resistance and proliferation in vitro, and promoted lung metastasis and tumorigenic ability in vivo. Importantly, high level of TRIM44 induced melanoma cell epithelial-mesenchymal transition (EMT), which is one of the most important mechanisms for the promotion of tumor metastasis. Mechanistically, high levels of TRIM44 increased the levels of p-AKT (T308) and p-mTOR (S2448), and a specific AKT inhibitor inhibited TRIM44-induced tumor progression. Co-IP assays and mass spectrometric analyses indicated that TRIM44 overexpression induces cell EMT through activating AKT/mTOR pathway via directly binding and stabilizing TOLL-like receptor 4 (TLR4), and TLR4 interference impeded TRIM44 induced tumor progression. Moreover, we demonstrated that TRIM44 is the target of miR-26b-5p, which is significantly downregulated in melanoma tissues and may be responsible for the overexpression of TRIM44.
TRIM44, regulated by miR-26b-5p, promotes melanoma progression by stabilizing TLR4, which then activates the AKT/mTOR pathway. TRIM44 shows promise as a prognostic predictor and a therapeutic target for melanoma patients.
Recommendation systems are designed to recommend personalized content to improve user experience. At present, the recommendation systems still face some challenges such as poor interpretability, cold ...start problem and serialized recommendation modeling. Recently, the knowledge graph (KG) containing a large amount of semantic and structural information has been widely used in a variety of different recommendation tasks to alleviate the above problems. This paper systematically reviews the innovative applications of knowledge graph embedding (KGE) in different recommendation tasks. It first summarizes three common recommendation tasks and four applying goals of knowledge graph embedding. Then, it generalizes four types of knowledge graph embedding methods according to specific technologies, including traditional embedding method, embedding propagation method, heterogeneous graph embedding method and graph neural network based method. It further elaborates on the applying characteristics and strategies of the ab
Peucedanum praeruptorum seed root is a common medicinal herb with antipyretic, expectorant, antitussive, and therapeutic effects against bronchitis and furuncle. The roots of this herb contain many ...coumarin compounds, including pteryxin.
To investigate whether pteryxin can alleviate the LPS-induced lung injury and the mechanism involved.
Male BALB/C mice were orally given sodium carboxymethylcellulose (CMC-Na) (0.5%, 1mL/100g) and pteryxin (suspended in CMC-Na; 0.5%) at 5, 10, 25 mg/kg once daily for 7 days. Subsequently, the mice received a single intratracheal instillation of 5 mg/kg LPS or saline as the control. After 8 hours, the mice were sacrificed to collect bronchoalveolar lavage fluid (BALF) and lung tissues. These samples were used to determine the lung W/D (wet/dry) weight ratio, total protein (TP) levels, inflammatory cytokines (IL-6, TNF-α, and IL-1β) and expression of protein involved in MAPK/NF-κB pathway and NLRP3 inflammasome. H&E staining was carried out on tissue sections to explore the pathological alterations induced by LPS. The protein expression of F4/80 and NLRP3 in lung tissues was analyzed using immunohistochemical staining. The binding of pteryxin to target proteins (MAPK, NF-κB and NLRP3) was determined based on molecular docking tests.
Treatment with pteryxin reduced the lung W/D weight ratio, total protein (TP) level and levels of inflammatory cytokines (TNFα, IL-6 and IL-1 β) significantly. Therefore, it ameliorated LPS-induced inflammatory response in BALB/C mice. Moreover, pteryxin suppressed LPS-induced upregulation of proteins involved in MAPK/NF-κB signaling pathway and NLRP3 inflammasome activation. The expression level of F4/80 and NLRP3 was also downregulated by pteryxin pretreatment in lung tissues. Docking analysis revealed that pteryxin bound to target proteins (MAPK, NF- κB and NLRP3) with a fit-well pattern .
Pteryxin may attenuate LPS-induced acute lung injury by dampening MAPK/NF-κB signaling and NLRP 3 inflammasome activation.
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•Pteryxin showed protective effects on LPS-induced acute lung injury (ALI).•The protective effects of pteryxin on LPS-induced ALI are associated with inhibited NF-κB and MAPK signaling pathway.•Pteryxin attenuates LPS-induced ALI by inhibiting the NLRP3 inflammasome activation.
In this paper, we mainly investigate the existence and nonexistence of traveling waves for a diffusive epidemic model with a general nonlinear incidence rate and infection-age structure. It is ...observed that whether the disease can spread or not depends on the basic reproduction number
R
0
and critical wave speed
c
∗
. More precisely, the traveling wave solution exists when
R
0
>
1
and
c
≥
c
∗
, while the traveling wave solution vanishes when
R
0
≤
1
or
R
0
>
1
and
c
∈
(
0
,
c
∗
)
. By constructing a new pair of upper and lower solutions, an open problem proposed by Ducrot and Magal (Proc R Soc Edinb-A 139:459–482, 2009; Nonlinearity 24:2891–2911, 2011) is solved. It is also shown that infection-age structure can reduce the speed of disappearance of infectious diseases. We also investigate the effects of nonlinear incidence rate and age structure on the basic reproduction number and critical wave speed. Our results generalize some known results.
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