Here, we infer the historical biogeography and evolutionary diversification of the genus Lilium. For this purpose, we used the complete plastomes of 64 currently accepted species in the genus Lilium(14plastomes were n...Here, we infer the historical biogeography and evolutionary diversification of the genus Lilium. For this purpose, we used the complete plastomes of 64 currently accepted species in the genus Lilium(14plastomes were newly sequenced) to recover the phylogenetic backbone of the genus and a timecalibrated phylogenetic framework to estimate biogeographical history scenarios and evolutionary diversification rates of Lilium. Our results suggest that ancient climatic changes and geological tectonic activities jointly shaped the distribution range and drove evolutionary radiation of Lilium, including the Middle Miocene Climate Optimum(MMCO), the late Miocene global cooling, as well as the successive uplift of the Qinghai-Tibet Plateau(QTP) and the strengthening of the monsoon climate in East Asia during the late Miocene and the Pliocene. This case study suggests that the unique geological and climatic events in the Neogene of East Asia, in particular the uplift of QTP and the enhancement of monsoonal climate, may have played an essential role in formation of uneven distribution of plant diversity in the Northern Hemisphere.展开更多
Plant fossils play an important role in understanding landscape evolution across the Tibetan Region,as well as plant diversity across wider eastern Asia.Within the last decade or so,paleobotanical investigations withi...Plant fossils play an important role in understanding landscape evolution across the Tibetan Region,as well as plant diversity across wider eastern Asia.Within the last decade or so,paleobotanical investigations within the Tibet Region have led to a paradigm shift in our understanding of how the present plateau formed and how this affected the regional climate and biota.This is because:(1)Numerous new taxa have been reported.Of all the Cenozoic records of new plant fossil species reported from the Tibet(Xizang)Autonomous Region 45 out of 63(70%)were documented after 2010.Among these,many represent the earliest records from Asia,or in some cases worldwide,at the genus or family level.(2)These fossils show that during the Paleogene,the region now occupied by the Tibetan Plateau was a globally significant floristic exchange hub.Based on paleobiogeographic studies,grounded by fossil evidence,there are four models of regional floristic migration and exchange,i.e.,into Tibet,out of Tibet,out of India and into/out of Africa.(3)Plant fossils evidence the asynchronous formation histories for different parts of the Tibetan Plateau.During most of the Paleogene,there was a wide east-west trending valley with a subtropical climate in central Tibet bounded by high(>4 km)mountain systems,but that by the early Oligocene the modern high plateau had begun to form by the rise of the valley floor.Paleoelevation reconstructions using radiometrically-dated plant fossil assemblages in southeastern Tibet show that by the earliest Oligocene southeastern Tibet(including the Hengduan Mountains)had reached its present elevation.(4)The coevolution between vegetation,landform and paleoenvironment is evidenced by fossil records from what is now the central Tibetan Plateau.From the Paleocene to Pliocene,plant diversity transformed from that of tropical,to subtropical forests,through warm to cool temperate woodland and eventually to deciduous shrubland in response to landscape evolution from a seasonally humid lowland valley,to a high and dry plateau.(5)Advanced multidisciplinary technologies and novel ideas applied to paleobotanical material and paleoenvironmental reconstructions,e.g.,fluorescence microscopy and paleoclimatic models,have been essential for interpreting Cenozoic floras on the Tibetan Region.However,despite significant progress investigating Cenozoic floras of the Tibetan Region,fossil records across this large region remain sparse,and for a better understanding of regional ecosystem dynamics and management more paleobotanical discoveries and multidisciplinary studies are required.展开更多
In this paper, we construct a company value model based on the tax shield effect for overseas listing and privatization scenarios. The trade-off process of privatization decisions is simulated in the context of China ...In this paper, we construct a company value model based on the tax shield effect for overseas listing and privatization scenarios. The trade-off process of privatization decisions is simulated in the context of China concept stock companies’ reality. The results indicate that the value of tax shields, the degree of undervaluation, the ability to obtain cash flows, the risk of short selling, the cost of listing transactions, and fraud penalties are critical factors influencing the choice of privatization. The company value analysis shows that tax shield effect positively affects the probability of privatization. Furthermore, the weaker the ability of a company to obtain cash flow when listed overseas, the lower the WACC, the higher the risk of being shorted, and the higher the cost of listing transactions, the higher the probability that a company will choose to go private. Finally, numerical simulations are adopted to validate the validity of the theoretical model and the findings using SINA’s privatization as a case study. The findings can provide academic guidance and a decision-making basis on trading arrangements for CCS companies.展开更多
A fossil oak species,Quercus tenuipilosa Q.Hu et Z.K.Zhou,is reported from the upper Pliocene Ciying Formation in Kunming,Yunnan Province,southwestern China.The establishment of this species is based on detailed morph...A fossil oak species,Quercus tenuipilosa Q.Hu et Z.K.Zhou,is reported from the upper Pliocene Ciying Formation in Kunming,Yunnan Province,southwestern China.The establishment of this species is based on detailed morphologic and cuticular investigations.The fossil leaves are elliptic,with serrate margins on the apical half.The primary venation is pinnate,and the major secondary venation is craspedodromous.The tertiary veins are opposite or alternate-opposite percurrent with two branches.The stomata are anomocytic,occurring only on the abaxial epidermis.The trichome bases are unicellular or multicellular.The new fossil species shows the closest affinity with theextant Q.delavayi and the late Miocene Q.praedelavayi Y.W.Xing et Z.K.Zhou from the Xiaolongtan Formation of the Yunnan Province.All three species share similar leaf morphology,but differ with respect to trichome base and stomatal densities.Q.tenuipilosa.Q.praedelavayi,and Q.delavayi can be considered to constitute the Q.delavayi complex.Since the late Miocene,a gradual reduction in trichome base density has occurred in this complex.This trend is the opposite of that of precipitation,indicating that increased trichome density is not an adaptation to dry environments.The stomatal density(SD)of the Q.delavayi complex was the highest during the late Miocene,declined in the late Pliocene,and then increased during the present epoch.These values show an inverse relationship with atmospheric CO_2 concentrations,suggesting that the SD of the Q.delavayi complex may be a useful proxy for reconstruction of paleo-CO_2 concentrations.展开更多
基金financially supported by the National Natural Science Foundation of China (31872673)Yunnan Revitalization Talent Support Program “Top Team” Project (202305AT350001)the NSFC-Joint Foundation of Yunnan Province (U1802287)。
文摘Here, we infer the historical biogeography and evolutionary diversification of the genus Lilium. For this purpose, we used the complete plastomes of 64 currently accepted species in the genus Lilium(14plastomes were newly sequenced) to recover the phylogenetic backbone of the genus and a timecalibrated phylogenetic framework to estimate biogeographical history scenarios and evolutionary diversification rates of Lilium. Our results suggest that ancient climatic changes and geological tectonic activities jointly shaped the distribution range and drove evolutionary radiation of Lilium, including the Middle Miocene Climate Optimum(MMCO), the late Miocene global cooling, as well as the successive uplift of the Qinghai-Tibet Plateau(QTP) and the strengthening of the monsoon climate in East Asia during the late Miocene and the Pliocene. This case study suggests that the unique geological and climatic events in the Neogene of East Asia, in particular the uplift of QTP and the enhancement of monsoonal climate, may have played an essential role in formation of uneven distribution of plant diversity in the Northern Hemisphere.
基金supported by the Second Tibetan Plateau Scientific Expedition and Research(Grant No.2019QZKK0705)the Strategic Priority Research Program of CAS(Grant No.XDA20070301)+3 种基金the National Natural Science Foundation of China(Grant Nos.42002020,42072024,41988101 and 41922010)the National Natural Science Foundation of China-Natural Environment Research Council of the United Kingdom joint research program(Grant Nos.41661134049 and NE/P013805/1)the Foundation of the State Key Laboratory of Paleobiology and Stratigraphy,Nanjing Institute of Geology and Paleontology,Chinese Academy of Sciences(Grant Nos.203127 and 193117)the West Light Project(Grant No.2020000023)。
文摘Plant fossils play an important role in understanding landscape evolution across the Tibetan Region,as well as plant diversity across wider eastern Asia.Within the last decade or so,paleobotanical investigations within the Tibet Region have led to a paradigm shift in our understanding of how the present plateau formed and how this affected the regional climate and biota.This is because:(1)Numerous new taxa have been reported.Of all the Cenozoic records of new plant fossil species reported from the Tibet(Xizang)Autonomous Region 45 out of 63(70%)were documented after 2010.Among these,many represent the earliest records from Asia,or in some cases worldwide,at the genus or family level.(2)These fossils show that during the Paleogene,the region now occupied by the Tibetan Plateau was a globally significant floristic exchange hub.Based on paleobiogeographic studies,grounded by fossil evidence,there are four models of regional floristic migration and exchange,i.e.,into Tibet,out of Tibet,out of India and into/out of Africa.(3)Plant fossils evidence the asynchronous formation histories for different parts of the Tibetan Plateau.During most of the Paleogene,there was a wide east-west trending valley with a subtropical climate in central Tibet bounded by high(>4 km)mountain systems,but that by the early Oligocene the modern high plateau had begun to form by the rise of the valley floor.Paleoelevation reconstructions using radiometrically-dated plant fossil assemblages in southeastern Tibet show that by the earliest Oligocene southeastern Tibet(including the Hengduan Mountains)had reached its present elevation.(4)The coevolution between vegetation,landform and paleoenvironment is evidenced by fossil records from what is now the central Tibetan Plateau.From the Paleocene to Pliocene,plant diversity transformed from that of tropical,to subtropical forests,through warm to cool temperate woodland and eventually to deciduous shrubland in response to landscape evolution from a seasonally humid lowland valley,to a high and dry plateau.(5)Advanced multidisciplinary technologies and novel ideas applied to paleobotanical material and paleoenvironmental reconstructions,e.g.,fluorescence microscopy and paleoclimatic models,have been essential for interpreting Cenozoic floras on the Tibetan Region.However,despite significant progress investigating Cenozoic floras of the Tibetan Region,fossil records across this large region remain sparse,and for a better understanding of regional ecosystem dynamics and management more paleobotanical discoveries and multidisciplinary studies are required.
文摘In this paper, we construct a company value model based on the tax shield effect for overseas listing and privatization scenarios. The trade-off process of privatization decisions is simulated in the context of China concept stock companies’ reality. The results indicate that the value of tax shields, the degree of undervaluation, the ability to obtain cash flows, the risk of short selling, the cost of listing transactions, and fraud penalties are critical factors influencing the choice of privatization. The company value analysis shows that tax shield effect positively affects the probability of privatization. Furthermore, the weaker the ability of a company to obtain cash flow when listed overseas, the lower the WACC, the higher the risk of being shorted, and the higher the cost of listing transactions, the higher the probability that a company will choose to go private. Finally, numerical simulations are adopted to validate the validity of the theoretical model and the findings using SINA’s privatization as a case study. The findings can provide academic guidance and a decision-making basis on trading arrangements for CCS companies.
基金supported by the National Basic Research Program of China(2012CB821901)the National Natural Science Foundation of China(41030212)to Zhekun Zhou
文摘A fossil oak species,Quercus tenuipilosa Q.Hu et Z.K.Zhou,is reported from the upper Pliocene Ciying Formation in Kunming,Yunnan Province,southwestern China.The establishment of this species is based on detailed morphologic and cuticular investigations.The fossil leaves are elliptic,with serrate margins on the apical half.The primary venation is pinnate,and the major secondary venation is craspedodromous.The tertiary veins are opposite or alternate-opposite percurrent with two branches.The stomata are anomocytic,occurring only on the abaxial epidermis.The trichome bases are unicellular or multicellular.The new fossil species shows the closest affinity with theextant Q.delavayi and the late Miocene Q.praedelavayi Y.W.Xing et Z.K.Zhou from the Xiaolongtan Formation of the Yunnan Province.All three species share similar leaf morphology,but differ with respect to trichome base and stomatal densities.Q.tenuipilosa.Q.praedelavayi,and Q.delavayi can be considered to constitute the Q.delavayi complex.Since the late Miocene,a gradual reduction in trichome base density has occurred in this complex.This trend is the opposite of that of precipitation,indicating that increased trichome density is not an adaptation to dry environments.The stomatal density(SD)of the Q.delavayi complex was the highest during the late Miocene,declined in the late Pliocene,and then increased during the present epoch.These values show an inverse relationship with atmospheric CO_2 concentrations,suggesting that the SD of the Q.delavayi complex may be a useful proxy for reconstruction of paleo-CO_2 concentrations.