This paper provides the first evidence of the debt and stock market reaction to corporate green bond issuance in the simultaneously largest developing economy and largest emerging debt market, China. ...Utilizing a most comprehensive sample of Chinese green bonds, we document a pricing premium of corporate green bonds relative to conventional bonds. The economic magnitude of the Chinese green bond pricing premium is greatly larger than that of an international green bond documented in prior studies. The pricing premium of corporate green bonds is most pronounced for new issues from high corporate social responsibility (CSR) issuers and underwriters. It is also stronger for corporate issuers with less ownership concentration and held by long-term institutional investors. Further analysis reveals positive announcement stock returns for green bond new issues, consistent with the stakeholder value maximization theory that corporate engagement in sustainable financing practice increases firm value in a long run and thus is favored by shareholders.
•This paper provides the first evidence of the debt and stock market reaction to green bond issuance in China, the largest home country for green bonds as of 2018.•We document a robust pricing premium of corporate green bonds relative to otherwise•This study is novel in uncovering the important roles of issuers, underwriters and bond investors in determining the green bond price premium.•Stock market investors positively react to the announcements of green bond new issues.
Garnet has been proposed to be an important fractionating phase during magmatic differentiation in thick volcanic arcs because garnet fractionation can reproduce the hallmarks of continental crust by ...driving residual magmas to higher silica, lower total iron, and higher iron oxidation states. Recently, Holycross and Cottrell (2023b) have measured the partition coefficients for Fe2+ and Fe3+ between garnet and melt, which allow for more precise modeling of the oxidation effect of garnet fractionation. Using their new experimental results combined with fractional crystallization modeling, Holycross and Cottrell (2023a, 2023b) concluded that garnet crystallization has little influence on arc magma oxidation. However, these conclusions are based on conceptual errors in modeling the effects of garnet. Firstly, they ignored garnet fractionation beyond 50% crystallization which would cause substantial Fe3+ enrichment. Limiting garnet fractionation to the initial 50% crystallization of arc basalts is inconsistent with existing experiments including their own experiments. Secondly, Fe2+ partitioning was indirectly and incorrectly parameterized using FeMg exchange coefficients, inconsistent with experimental partition coefficients. Application of these recent models leads to unrealistic Fe2+ partitioning behavior with progressive fractionation. When these models are corrected with proper mass balance and partitioning relationships, garnet as a driver of oxidation remains a viable and testable hypothesis.
•Latest experiments allow parameterization of Fe partitioning in garnet.•Incorrect use of KD leads to erroneous model results.•Model using parameterized Fe partition coefficients shows strong oxidation.•Garnet-driven magma oxidation remains a viable hypothesis.
The respiratory system is a well-organized multicellular organ, and disruption of cellular homeostasis or abnormal tissue repair caused by genetic deficiency and exposure to risk factors lead to ...life-threatening pulmonary disease including idiopathic pulmonary fibrosis (IPF). Although there is no clear etiology as the name reflected, its pathological progress is closely related to uncoordinated cellular and molecular signals. Here, we review the advances in our understanding of the role of lung tissue cells in IPF pathology including epithelial cells, mesenchymal stem cells, fibroblasts, immune cells, and endothelial cells. These advances summarize the role of various cell components and signaling pathways in the pathogenesis of idiopathic pulmonary fibrosis, which is helpful to further study the pathological mechanism of the disease, provide new opportunities for disease prevention and treatment, and is expected to improve the survival rate and quality of life of patients.
Ginseng has been used as a popular herbal medicine in East Asia for at least two millennia. However, 20(R)-ginseng saponins, one class of important rare ginsenosides, are rare in natural products. ...20(R)-ginseng saponins are generally prepared by chemical epimerization and microbial transformation from 20(S)-isomers. The C20 configuration of 20(R)-ginseng saponins are usually determined by 13C NMR and X-ray single-crystal diffraction. 20(R)-ginseng saponins have antitumor, antioxidative, antifatigue, neuroprotective, and osteoclastogenesis inhibitory effects, among others. Owing to the chemical structure and pharmacological and stereoselective properties, 20(R)-ginseng saponins have attracted a great deal of attention in recent years. In this study, the discovery, identification, chemical epimerization, microbial transformation, pharmacological activities, and metabolism of 20(R)-ginseng saponins are summarized.
Effect of ethanolamine （ETA） on Alloy 690 in simulated pressurized water reactor （PWR） secondary cooling water was studied by electrochemical impedance spectroscopy （EIS）, potentiodynamic ...polarization, atomic force microscopy （AFM）, Fourier transform infrared spectroscopy-attenuated total reflectance （FTIR-ATR）, X-ray photoelectron spectrometer （XPS） and time of flight secondary ion mass spectrometry （ToF-SIMS）. The results show that moderate addition of ETA can enhance the corrosion resistance of Alloy 690 in high-temperature pressurized water and the optimum additive value is 2 mg/L. The addition of ETA contributes to the formation of oxide rather than hydroxide in the film on the surface of Alloy 690. The corrosion resistance of Alloy 690 at 320 ℃ with the addition of ETA is better than that at 280 ℃.
Ginseng is a traditional medicine with a complex chemical composition, wide bioactivity and unique pharmacological action. Many studies have confirmed that ginsenosides are the active ingredients of ...ginseng, and ginsenosides have always been the focus of different researchers. With the development of modern separation and analysis technology, more than 150 kinds of ginsenosides have been isolated. The ginsenosides Rb1, Rb2, Rc, Rg1 and Re account for more than 80% of total ginsenosides, and other saponins, such as Rd, Rg3 and Rh2, which are minor constituents, accounting for only a small portion of the total amount. In recent years, ginsenosides have been found to possess strong pharmacological activities, such as antioxidation, clearing of oxygen free radicals, reducing calcium overload and anti-apoptosis. Ginsenosides play a protective role in ischemia-reperfusion injury. This paper reviews the protective effects of ginsenosides on myocardial ischemia and ischemiareperfusion injury.
DBS has been shown to significantly affect motor symptoms in Parkinson's disease (PD). However, some studies have suggested that it may have adverse effects on patients' neurocognitive function. To ...clarify this operation's effect on neurocognitive function, we collected studies containing neurocognitive function evaluation for qualitative and quantitative analysis.
We searched relevant clinical studies through Pubmed and Embase databases and extracted and sorted out information such as sample size, post-operative scores, pre-operative and post-operative evaluation interval, PD course, and exclusion criteria, from articles meeting the standards. The magnitude and variance of the DBS group's combined effects and the drug therapy group in each neurocognitive domain were calculated and analyzed by the random-effects model.
Compared with the drug treatment group, the verbal fluency of patients in the experimental group was significantly decreased at least moderately (ES = -0.553), in which the phonemic fluency declines greatly (ES = -0.842), learning and memory ability was slightly decreased (ES = -0.305), and other neurocognitive functions were not significantly decreased.
STN-DBS can affect verbal fluency and damage learning and memory. There was no significant correlation between the above effects and disease progression itself, and it was more likely to be associated with STN-DBS. It is suggested that post-operative patients should be trained and evaluated regularly for their verbal fluency and learning and memory ability. The safety of STN-DBS is acceptable for the majority of patients with motor symptoms.
Vacuole and mitochondria patches (vCLAMPs) are involved in the stress resistance of yeast, but their exact role in autophagy remains so far unclear. This study, for the first time, investigated the ...role of the vCLAMP core protein Vam6 in autophagy of
Candida albicans.
The experiments demonstrated that the deletion of
VAM6
led to a growth defect under nitrogen starvation. Also, western blotting revealed that the
vam6
Δ/Δ mutant attenuated degradation of Atg8 (an autophagy indicator), Lap41 (an indicator of the cytoplasm to vacuole targeting pathway), and Csp37 (a mitophagy indicator). Moreover, the activity of carboxypeptidase Y and the levels of the vacuolar phospholipase Atg15 were significantly decreased in the mutant, which confirmed the defect of autophagy caused by deletion of
VAM6
. Overall, these results revealed that Vam6 is essential in maintaining the autophagic process under nitrogen starvation, and this provided new insights into the correlation between vCLAMPs and autophagy.
Chemical leukoderma is an acquired depigmentation of the skin caused by repeated exposure to specific agents damaging to epidermal melanocytes. Case reports of chemical leukoderma have been ...associated with some consumer products. To date, there are no well-accepted approaches for evaluating and minimizing this risk. To this end, a framework is presented that evaluates the physical and chemical characteristics of compounds associated with chemical leukoderma and employs structure-activity relationship (SAR) read-across and predictive metabolism tools to determine whether a compound is at increased risk of evoking chemical leukoderma. In addition to in silico approaches, the testing strategy includes in chemico quinone formation and in vitro melanocyte cytotoxicity assays to dimension the risk as part of an overall weight of evidence approach to risk assessment. Cosmetic ingredients raspberry ketone, undecylenoyl phenylalanine, tocopheryl succinate, p-coumaric acid, resveratrol, resveratrol dimethyl ether, sucrose dilaurate, tranexamic acid, niacinamide and caffeic acid are evaluated in this framework and compared to positive controls rhododendrol and hydroquinone. Overall, this framework is considered an important step toward mitigating the risk of chemical leukoderma for compounds used in consumer products.
•A framework to mitigate the risk of chemical leukoderma is presented•A weight of evidence approach evaluates topically applied cosmetic compounds•Assays include quinone formation and tyrosinase-dependent melanocyte cytotoxicity•Benchmark compounds are rhododendrol, raspberry ketone, and hydroquinone
The influence of conductivity on corrosion behavior of 304 stainless steel （SS） in high temperature water was investigated by using in-situ potentiodynamic polarization curves, electrochemical ...impedance spectra （EIS） at 300 ℃, and ex-situ scanning electron microscopy （SEM）, X-ray diffraction （XRD）, and X-ray pho- toelectron spectroscopy （XPS）. The structures of oxide films formed on 304 SS change with different conductivities at 300 ℃. With the increase in conductivity, the passive current density increases while the resistances of oxide films decrease. But the resistances do not decrease lineally with the increase in conductivity. A modified double-layer model for oxide structure was proposed to explain the influence mechanism of conductivity on the oxide films on 304 SS in high temperature water. Improving the 10B enrichment level can reduce the conductivity of primary water and increase the corrosion resistance of 304 SS.
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