The separation of ownership and management of companies results in agency problems between shareholders and management to some extent.In Western countries,shareholders usually actively participate in the company’s ma...The separation of ownership and management of companies results in agency problems between shareholders and management to some extent.In Western countries,shareholders usually actively participate in the company’s management and monitor management issues in order to enhance the company’s performance.At present,China’s securities market,as well as institutional investors are undergoing a rapid development,while problems of governance among listed companies in China have been negatively affecting the development of capital markets.Institutional investors have developed to form a certain scale.Moreover,national policies,as well as the split-share structure reform,further encourage the growth of institutional investors,and their active participation in corporate governance in order to better promote the development of capital markets.A great deal of research pertains to the effects of shareholder activism on corporate performance in Western countries.However,research on shareholder activism in China is scanty.Furthermore,chances are that in some specific Chinese regions and industries circumstances are unique,in which the well-established theories cannot be effectively applied.Therefore,this paper empirically analyzes the correlation between shareholder activism and corporate performance so as to examine how effective China’s institutional investors participate in the governance of listed companies.This paper empirically tests the impact of shareholder activism on corporate performance.In this paper,an unbalanced panel data set consisting of observation is constructed.Then,in order to insure validity of results,a series of preliminary tests are conducted.Furthermore,Panel data method and robustness check are performed for empirical analysis.Finally,the result of the empirical tests shows that there is a positive correlation between Chinese institutional shareholding ratio and corporate performance of listed companies.This indicates that shareholder activism can definitely promote the corporate governance and corporate performance in China.展开更多
The type V-I CRISPR-Cas system is becoming increasingly more attractive for genome editing.However,natural nucleases of this system often exhibit low efficiency,limiting their application.Here,we used structure-guided...The type V-I CRISPR-Cas system is becoming increasingly more attractive for genome editing.However,natural nucleases of this system often exhibit low efficiency,limiting their application.Here,we used structure-guided rational design and protein engineering to optimize an uncharacterized Cas12i nuclease,Cas12i3.As a result,we developed Cas-SF01,a Cas12i3 variant that exhibits significantly improved gene editing activity in mammalian cells.Cas-SF01 shows comparable or superior editing performance compared to SpCas9 and other Cas12 nucleases.Compared to natural Cas12i3,Cas-SF01 has an expanded PAM range and effectively recognizes NTTN and noncanonical NATN and TTVN PAMs.In addition,we identified an amino acid substitution,D876R,that markedly reduced the off-target effect while maintaining high on-target activity,leading to the development of CasSF01^(HiFi)(high-fidelity Cas-SF01).Finally,we show that Cas-SF01 has high gene editing activities in mice and plants.Our results suggest that CasSF01 can serve as a robust gene editing platform with high efficiency and specificity for genome editing applications in various organisms.展开更多
文摘The separation of ownership and management of companies results in agency problems between shareholders and management to some extent.In Western countries,shareholders usually actively participate in the company’s management and monitor management issues in order to enhance the company’s performance.At present,China’s securities market,as well as institutional investors are undergoing a rapid development,while problems of governance among listed companies in China have been negatively affecting the development of capital markets.Institutional investors have developed to form a certain scale.Moreover,national policies,as well as the split-share structure reform,further encourage the growth of institutional investors,and their active participation in corporate governance in order to better promote the development of capital markets.A great deal of research pertains to the effects of shareholder activism on corporate performance in Western countries.However,research on shareholder activism in China is scanty.Furthermore,chances are that in some specific Chinese regions and industries circumstances are unique,in which the well-established theories cannot be effectively applied.Therefore,this paper empirically analyzes the correlation between shareholder activism and corporate performance so as to examine how effective China’s institutional investors participate in the governance of listed companies.This paper empirically tests the impact of shareholder activism on corporate performance.In this paper,an unbalanced panel data set consisting of observation is constructed.Then,in order to insure validity of results,a series of preliminary tests are conducted.Furthermore,Panel data method and robustness check are performed for empirical analysis.Finally,the result of the empirical tests shows that there is a positive correlation between Chinese institutional shareholding ratio and corporate performance of listed companies.This indicates that shareholder activism can definitely promote the corporate governance and corporate performance in China.
基金This work was supported by Shandong BellaGen Biotechnology,and by a grant from the National Natural Science Foundation of China(32188102 to J.-K.Z.).
文摘The type V-I CRISPR-Cas system is becoming increasingly more attractive for genome editing.However,natural nucleases of this system often exhibit low efficiency,limiting their application.Here,we used structure-guided rational design and protein engineering to optimize an uncharacterized Cas12i nuclease,Cas12i3.As a result,we developed Cas-SF01,a Cas12i3 variant that exhibits significantly improved gene editing activity in mammalian cells.Cas-SF01 shows comparable or superior editing performance compared to SpCas9 and other Cas12 nucleases.Compared to natural Cas12i3,Cas-SF01 has an expanded PAM range and effectively recognizes NTTN and noncanonical NATN and TTVN PAMs.In addition,we identified an amino acid substitution,D876R,that markedly reduced the off-target effect while maintaining high on-target activity,leading to the development of CasSF01^(HiFi)(high-fidelity Cas-SF01).Finally,we show that Cas-SF01 has high gene editing activities in mice and plants.Our results suggest that CasSF01 can serve as a robust gene editing platform with high efficiency and specificity for genome editing applications in various organisms.
