Quantifying the effect of ESG-related news on Chinese stock movements.

Current Environmental, Social, and Governance (ESG) rating systems encounter challenges due to their subjectivity, time lag, and inconsistent coverage, which present significant obstacles for investors in the stock market. In contrast, news reporting data, characterized by its objectivity, timeliness, publicity, and sociality, has been a crucial source of quality market information for investors. The potential of ESG-related news as a robust complement to the data sources used in existing ESG rating systems merits further exploration. This study investigates the impact of ESG-related news on the Chinese stock market, with the goal of providing compelling evidence for integrating news media into ESG assessments. By analyzing 32,296 ESG-related news articles covering 3643 companies in the Chinese market from 2015 to 2021, we utilize event study methodology to assess the market's abnormal returns in response to ESG-related news. Our findings suggest a significant market impact from ESG-related news, indicating that investors are increasingly attentive to information pertaining to ESG issues. The study also reveals that different attributes of ESG-related news have diverse effects on the market. Specifically, news with negative sentiments has the most significant impact, and investors demonstrate a stronger reaction to ESG-related news disseminated through unofficial media. Furthermore, the study highlights that enterprise heterogeneity affects the impact of ESG-related news, with companies in the secondary and tertiary industries showing higher sensitivity. Privately-owned enterprises are found to be more influenced by such news compared to state-owned enterprises. This study offers a novel perspective in evaluating corporate ESG performance using news media, proposing a more effective and objective method to assess and manage corporate sustainability in a dynamic market landscape.

Assessment of Regional Differences in the Implementation of the Air Pollution Prevention and Control Action Plan in China.

Air pollution is still an important risk factor that endangers the health of Chinese people, leading the government to implement a series of policies to address air pollution. This study takes the Air Pollution Prevention and Control Action Plan (APPCAP) proposed in 2013 as the object and uses the combined data set of China's 2000-2019 economic panel data and PM2.5 remote sensing data to analyse the implementation effect of the policy by the multiperiod difference-in-differences method, considering regional heterogeneity. The results show that the implementation of the APPCAP significantly reduced the PM2.5 concentration in China, and the effect was stronger in the Yangtze River Delta region. Future governance policies should further consider local characteristics and determine pollution control goals and measures according to local conditions.

Olfactory mucosa tissue-derived mesenchymal stem cells lysate ameliorates LPS-induced acute liver injury in mice.

BACKGROUND: Acute liver injury (ALI) induced by sepsis seriously endangers the health of human beings every year. Mesenchymal stem cells (MSCs) lysate containing various regulators had a positive effect on anti-inflammation, hoping to provide a promising strategy in ALI. METHODS: Olfactory mucosa-derived mesenchymal stem cells (OM-MSCs) were extracted and identified. The collected OM-MSCs were prepared after repeated freeze-thaw in phosphate buffer solution (PBS). Then, OM-MSCs lysate was filtered for future experiments. To understand the composes of OM-MSCs clearly, we detected the components of OM-MSCs lysate by western blotting. In vitro, OM-MSCs lysate was applied to evaluate the effects on normal human liver cells (LO-2) under stimulation of LPS. Lipopolysaccharide (LPS) was also injected intraperitoneally to build ALI model in mice. We further assessed the anti-inflammatory capacity of OM-MSCs lysate on ALI in vivo by aminotransferase determination, pathology observation, and immunohistochemical staining. Moreover, the immunoblot technique was performed to recognize the changes in inflammatory factors and related proteins. RESULTS: In this study, we found that OM-MSCs lysate could protect structure effectively, improve the plasma aminotransferases, diminish inflammation by releasing interleukin-10 (IL-10) and transforming growth factor-beta (TGF-ß). A significant decrease in tumor necrosis factor-α (TNF-α) also occurred under the treatment of OM-MSCs lysate. In addition, trophic factors originating from OM-MSCs lysate provided a supportive micro-environment for liver recovery. Especially, up-expression of vascular endothelial growth factor (VEGF) in vivo revealed that OM-MSCs might have a great potential for healing. CONCLUSIONS: Our results demonstrated that OM-MSCs lysate could alleviate LPS-induced ALI via decreasing inflammatory cytokines and promoting recovery.

Colon-targeted EMSCs conditional medium hydrogel for treatment of ulcerative colitis in mice.

Oral ecto-mesenchymal stem cells-conditional medium (EMSCs-CM) is a promising strategy for treating ulcerative colitis (UC). However, this therapy is currently limited by the harsh gastrointestinal environment and poor colonic targeting ability. Herein, a glutamine transaminase 2 (TG2) crosslinked EMSCs-CM hydrogel (EMSCs-CM-Gel) was fabricated by combining EMSCs-CM with negatively chargedγ-polyglutamic acid (γ-PGA) hydrogel. Intestinal epithelial cell 6 (IEC-6) was applied to construct a cell model with lipopolysaccharide to evaluate the anti-inflammatory potential of EMSCs-CMin vitro. The crosslinked gel was orally administered to mice in liquid form to access the effects of EMSCs-CM-Gelin vivo. This study was based on the fact that the hydrogel containing EMSCs-CM has negative charges, which ensure it remains at the positively charged inflamed colon tissue. The EMSCs-CM could continuously be released in the damaged colon mucosa along with the degradation of theγ-PGA hydrogel. Immunofluorescence and western blot were performed to assess the effects of EMSCs-CM-Gel on mice. The resultsin vivoshowed that EMSCs-CM-Gel could significantly suppress the expression of inflammatory cytokines, prevent the shortening of the length of the intestine and repair the intestinal barrier. Collectively, our findings provided a novel colon-targeted strategy, hoping to benefit UC patients a lot.