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Recent years have seen the influence of both institutional investors and corporate social responsibility strengthen in the Chinese capital market. However, research on the impact of these market changes on corporate activities and values has been insufficient. To address this gap, this study analyzes the impact of foreign and domestic institutional investors who invest in Chinese A-share listed companies on corporate value through environmental, social, and governance (ESG) policies. The results of the analysis are as follows: First, the shareholding of both foreign institutional investors (FIIs) and domestic institutional investors (DIIs) enhances corporate value. Second, the shareholding of FIIs strengthens the company's ESG, while that of DIIs does not significantly affect it. Third, ESG has a positive impact on corporate value. Fourth, ESG partially mediates the positive relationship between the shareholding of FIIs and corporate value. The research findings provide academic implications for the causal relationship between corporate governance, sustainable management, and performance, as well as practical implications for the development of the Chinese capital market and corporate sustainability. [ABSTRACT FROM AUTHOR]

CSR has become a key issue for the qualitative growth of the Chinese economy, while digital transformation has emerged as a crucial strategy for enhancing company competitiveness. Thus, the complex impact of CSR and digital transformation on the firm value is an important research topic. This study analyzes the moderating effect of digital transformation and the three-way interaction effect of internal control on the CSR–firm value relationship. A hierarchical multiple regression analysis of Chinese listed companies shows a significant positive relationship between CSR and the firm value and a positive moderating effect of digital transformation on the CSR–firm value relationship. According to the three-way interaction analysis results, internal control strengthens the moderating effect of digital transformation, which strengthens the positive relationship between CSR and the firm value. This study has academic value as the first to present and empirically analyze a research model on the complementary effects of CSR, DT, and internal control on the firm value. It also presents corporate strategies to respond to changes in the business environment and provides political implications for promoting corporate and social development together. [ABSTRACT FROM AUTHOR]

To purchase or authenticate to the full-text of this article, please visit this link: http://dx.doi.org/10.1111/j.1467-6486.2008.00802.x Byline: Jae Wook Yoo (1), Richard Reed (2), Shung Jae Shin (2), David J. Lemak (2) Abstract: abstract This work examines how the strategic choice and performance of late movers are influenced by the top management team's external ties, inside and outside the firm's industry. Using a multiyear sample of firms from the computer industry, we found that intra-industry trade-association ties of top managers led to the adoption of a resource-imitation strategy by late movers while extra-industry importation and professional-association ties led to the adoption of a resource-substitution strategy. We also found that trade association ties had a negative effect on the performance of late movers using resource-substitution, while top managers' service on other firms' boards had a positive influence on the performance of those firms. Our findings not only confirm the importance of the role of fit in strategy and performance, but they also highlight the importance of the management and control of boundary-spanning activities. Author Affiliation: (1)Konkuk University, Seoul; (2)Washington State University Article note: Jae Wook Yoo, College of Business Administration, Konkuk University, 1 Hwayang-dong, Gwangjin-gu, Seoul 143-701, Korea (jwyoo@konkuk.ac.kr).

Background: Human constitution, the fundamental basis of oriental medicine, is categorized into different patterns for a particular disease according to the physical, physiological, and clinical characteristics of the individuals. Obesity, a condition of metabolic disorder, is classified according to six patterns in oriental medicine, as follows: spleen deficiency syndrome, phlegm fluid syndrome, yang deficiency syndrome (YDS), food accumulation syndrome (FAS), liver depression syndrome (LDS), and blood stasis syndrome. In oriental medicine, identification of the disease pattern for individual obese patients is performed on the basis of differentiation in obesity syndrome index and, accordingly, personalized treatment is provided to the patients. The aim of the current study was to understand the obesity patterns in oriental medicine from the genomic point of view via determining the gene expression signature of obese patients using peripheral blood mononuclear cells as the samples.Methods: The study was conducted in 23 South Korean obese subjects (19 female and four male) with BMI ≥25 kg/m(2). Identification of oriental obesity pattern was based on the software-guided evaluation of the responses of the subjects to a questionnaire developed by the Korean Institute of Oriental Medicine. The expression profiles of genes were determined using DNA microarray and the level of transcription of genes of interest was further evaluated using quantitative real-time PCR (qRT-PCR).Results and Conclusion: Gene clustering analysis of the microarray data from the FAS, LDS, and YDS subjects exhibited disease pattern-specific upregulation of expression of several genes in a particular cluster. Further analysis of transcription of selected genes using qRT-PCR led to identification of specific genes, including prostaglandin endoperoxide synthase 2, G0/G1 switch 2, carcinoembryonic antigen-related cell adhesion molecule 3, cystein-serine-rich nuclear protein 1, and interleukin 8 receptor, alpha which were highly expressed in LDS obesity constitution. Our current study can be considered as a valuable contribution to the understanding of possible explanation for obesity pattern differentiation in oriental medicine. Further studies can address a novel possibility that the genomic and oriental empirical approaches can be combined and implemented in systematic and synergistic development of personalized medicine. This clinical trial was registered in Clinical Research Information Service of Korea National Institute of Health ( https://cris.nih.go.kr/cris/index.jsp ).Registration Number: KCT0000387. [ABSTRACT FROM AUTHOR]