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We study a consumption-based asset pricing model with ‘good’ and ‘bad’ uncertainties. Good and bad uncertainties are characterized by two gamma distributions with time-varying shape parameters and they respectively represent potentially fat-tailed, skewed positive and negative innovations to consumption growth. The representative agent has generalized disappointment aversion preferences. We show that disappointment aversion is important for generating a low risk-free rate and high equity premium, and additionally, while the influence of the elasticity of intertemporal substitution (EIS) on equity premium is negligible, the EIS is important for delivering reasonable implications on the market prices of the two uncertainty components.

As one of the most nutrient-rich marine species, Thelenota ananas has various effects, but its antiatherosclerosis activity has yet to be plumbed in depths. In this work, T. ananas saponin extracts were used to assess the effect on atherosclerosis development in the apoE−/− mice. In detail, the saponin treated groups clearly showed an inhibitory effect on the size of aortic atheromatous plaque, and the levels of serum lipid and inflammatory cytokines compared with the atherosclerosis model mice. Interestingly, the saponin extracts decreased the lipid profiles and oxidation in the visceral fat, and markedly altered the expressions of key proteins related to lipid synthesis and inflammation in the liver. Furthermore, saponin extracts promoted the diversity of the fecal bacterial colonies which has a close correlation with lipid metabolism. The results above revealed that T. ananas saponin extracts may be a beneficial natural resource for the prevention of atherosclerosis by modulating lipid metabolism.

The Thiessen polygon concept was applied to analyze how Neolithic sites were gathered and the features of agriculture, living environment and transportation in the Huaibei Plain, Anhui Province, East China, in the Shishanzi cultural period (8.0–6.5 ka BP), Dawenkou cultural period (6.5–4.5 ka BP), and Longshan cultural period (4.5–4.0 ka BP). The Thiessen polygon analysis method was effective in determining the settlement center of the region and helped to confer the complex relationships among agriculture, the living environment and transportation during the Neolithic Age. From the Shishanzi cultural period to the Longshan cultural period, a growing number of small polygons showed enhancement in the degree of gathering and cultural communication. In the Dawenkou and Longshan cultural periods, the central part of Huaibei Plain was the settlement center and the distance from the center of each Thiessen polygon to its edges was decreasing. This indicates that the ancients' dependence on agriculture and development conditions increased over the three cultures. The development of Neolithic cultures was also affected by the environmental changes in the Huaibei Plain. From the Shishanzi cultural period to the Longshan cultural period, the climate tended to be dry, and the area of marsh decreased. However, there was little change in temperature, which was beneficial to the ancients' lives and production. Not only did cultural sites and small polygons increase constantly, but groups of sites and settlement centers also appeared in the central part of plain and areas along the main stream of the Huai River. The Neolithic culture developed vigorously, and the abilities of ancients to adapt to environment and transform nature gradually improved. The NW to SE direction of the small polygons’ distribution suggests the control of the ancient rivers on transportation in the Huaibei Plain.

Henan area is climatologically situated in the transition between northern and southern China and the transition is reported to be highly sensitive to climate changes during the Holocene. To better understand the Holocene climatic and environmental changes in Henan area where high-quality data are lacking, this paper first reviewed those published palaeoenvironmental records in attempt to provide a low-resolution framework of the Holocene environmental changes in Henan area, and then synthesized the moisture proxy records from the surrounding areas in attempt to define a high-resolution trend of the Holocene moisture variation for our target site (i.e., Zhengzhou within Henan area). Two major conclusions can be drawn. First, the high-resolution Holocene moisture curve for our target site well follows the general moisture trend of China and the curve is well corroborated by two recently-reported data sets: one from Mangshan loess-palaeosol sequence and another from Laomu-Dongshiya Cave. Second, our synthesis supports an earlier notion stating that the “Holocene Moisture Optimum” in China was a delayed response to the oceanic “Holocene Thermal Optimum”. The latter might in turn be a delayed response to the summer insolation peak.

This study uses A-share listed companies' financial data in China's Shanghai Stock Exchange from 2010 to 2019 to examine the impact of environmental uncertainty and financing constraints on corporate investment. It is found that environmental uncertainty not only restrains corporate investment directly but also reduces corporate investment through increased financing constraints indirectly. This negative effect is even more obvious in small-scale enterprises. Further research finds that environmental uncertainty has a heterogeneous impact on corporate investment efficiency. While inhibiting overinvested corporate investment behaviour and improving their investment efficiency, higher environmental uncertainty will reduce underinvested corporate investment and worsen their investment efficiency.

This study investigates the influence of economic policy uncertainty on total factor productivity (TFP) of enterprises. We find that economic policy uncertainty is significantly and negatively related to the TFP growth of enterprises in China. By distinguishing the nature of enterprise property rights and the scale of enterprises, we find that the reduction of the TFP growth of enterprises is more significant in non-state-owned enterprises and large-scale enterprises. Our analysis shows that economic policy uncertainty will reduce the TFP growth of enterprises by aggravating financial mismatch.

The Central Plains of China witnessed a crucial cultural transformation towards the end of the Longshan period from a chiefdom-like society to a state-level society that has been speculated to be associated with regionally favorable environmental conditions. However, this speculation has not yet been substantiated. We first compiled the information on human migrations and extreme floods during the late Longshan period and then compared the relationships of human settlements with hydrogeomorphic settings in the Central Plains between the Longshan and Xinzhai-Erlitou periods. Our comparison shows that the course of the Yellow River was relatively stable during the Longshan period in the eastern Central Plains, where abundant highlands might have existed for human dwellings. However, geologically and archaeologically documented extreme floods that occurred at ~ 4000 cal. yr BP changed hydrogeomorphic settings in key locations along the Yellow River. The northern Henan area and the bordering area of Henan, Shandong and Anhui Provinces were subjected to frequent crevasses from flooding of the Yellow River at ~ 4000 cal. yr BP, which might have forced human migrations. Consequently, the northern Henan area and the bordering area of the three provinces lacked human settlements, whereas the western Central Plains contained concentrated human settlements during the Xinzhai-Erlitou period. We propose that the success of the above-mentioned cultural transformation was likely causally associated with hydrogeomorphic setting changes in the lower Yellow River Basin. Specifically, the frequent crevasses from flooding of the Yellow River at ~ 4000 cal. yr BP in the eastern alluvial plain regions made the western hilly and mountainous regions of present-day Henan Province the “refuge” for eastern immigrants during the late Longshan period. After the floods, human reoccupation and subsequent population increase beyond the local optimum carrying capacity within the Luoyang Basin during the Erlitou period might be a key driver of local social complexity.

The southeastern Lixiahe Plain (SELP) is the site of the only identified Neolithic human settlements in the eastern Northern Jiangsu Plain, East China, and it also represents the junction of the Lixiahe Plain (LP), the Northern Jiangsu coastal Plain, and the Yangtze River Delta northern flank Plain. Based on previous studies and lithology, marine micropaleontological analysis, and the results of AMS 14C dating of three sets of strata from the Neolithic “ruins area”, we discussed the timings and mechanisms and the regional significance of the Early–Middle Holocene marine–terrestrial transitions in the SELP as well as the origins of its Neolithic culture. A rare phenomenon is identified in the study: Under the background of the rapid sea-level rise in the Early Holocene, the eastern part of the area accreted from the marine environment to a coastal tidal flat at approximately 8000 a BP (8900 cal a BP). This accretion was due to the obstruction of the palaeogeomorphic uplift belts to the east and south of the LP and the convergence and accumulation of sediments caused by the radiating tidal current field in the South Yellow Sea. The western part transformed into a swamp environment at approximately 5500 a BP (6300 cal a BP) due to the formation of the Yangtze River north coastal sand bank during the Early to Middle Holocene. As the first new land formed in the study area during the Holocene, the marine–terrestrial changes of the SELP formed the boundaries of the spatial evolution of the three plains, thus limiting their respective evolution range. As the archaeological evidence necessary to build a complete evidence chain is lacking, palaeogeography and traffic problems limit our current understanding on the Neolithic cultural origins in the SELP, which may be the future direction of research efforts.

Mulberry leaves are used in Chinese traditional medicine to prevent diabetes and the preventive and therapeutic effects of MLE have been seen in preclinical models. Herein, mulberry leaf extract (MLE) was analyzed to identify its active components. Ultra-performance liquid chromatography–mass spectrometry revealed that MLE contained 1-deoxynojirimycin (1-DNJ, 5.47%), chlorogenic acid (CA, 1.21%), resveratrol (RESV, 0.39%), scopoletin (Sco, 0.09%), and astragaloside (AS, 0.04%). Mice with induced diabetic cardiomyopathy were treated with MLE or each of its main components for 12 weeks. MLE and 1-DNJ significantly improved cardiac function, body weight, and glucose and lipid metabolism, while reducing myocardial fibrosis. Moreover, 1-DNJ reduced the levels of reactive oxygen species and oxidative stress, inhibited the TGF-β pathway, prevented the expression of α-SMA and Smad2/3, as well as collagen 1 and 3. Collectively, these findings suggest that1-DNJ is the main active component of MLE that protects the diabetic myocardium and regulates the TGF β–Smad2/3 pathway.

ZnO/MnO2 hybrid nanostructure for electrode and asymmetric supercapacitor is fabricated and electrochemical performance of the as-prepared active material is investigated in this paper. The as-synthesized electrode material possesses a wheel-like shape composed of the nanosheets and nanoparticles. This ZnO/MnO2 electrode with 3-electrode measurement and the assembled supercapacitor show maximum area capacitance of 271.1 mF cm−2 and 376.7 mF cm−2 at current densities of 2 mA cm−2, respectively, as well as energy density of 109.8 mWh cm−2 and 610.2 mWh cm−2 , power density of 3240 mW cm−2 and 6480 mW cm−2, respectively. Moreover, the as-prepared electrode material has a long-term cyclic life and stability (95% after 50,000 cycles) and the assembled supercapacitor possesses 97% retention after 10,000 cycles, respectively. Excellent electrochemical performance of the as-fabricated hybrid nanostructure could be contributed to the unique hybrid nanostructure and good pseudocapacitance of MnO2.

Domestic chickens are valuable sources of protein associated with producing meat and eggs for humans. The gastrointestinal tract (GIT) houses a large microbial community, and these microbiota play an important role in growth and health of chickens, contributing to the enhancement of nutrient absorption and improvement of the birds' immune systems. To improve our understanding of the chicken intestinal microbial composition, microbiota inhabiting 5 different intestinal locations (duodenum, jejunum, ileum, cecum, and colon) of 42-day-old broiler chickens were detected based on 16S rRNA gene sequence analysis. As a result, 1,502,554 sequences were clustered into 796 operational taxonomic units (OTUs) at the 97% sequence similarity value and identified into 15 phyla and 288 genera. Firmicutes, Bacteroidetes, Proteobacteria, Actinobacteria, and Cyanobacteria were the major microbial groups and Firmicutes was the dominant phylum in duodenum, jejunum, ileum and colon accounting for > 60% of sequences, while Bacteroidetes was the dominant phylum in cecum (>50% of sequences), but little in the other four gut sections. At the genus level, the major microbial genera across all gut sections were Lactobacillus, Enterococcus, Bacteroides, and Corynebacterium. Lactobacillus was the predominant genus in duodenum, jejunum, and ileum (>35%), but was rarely present in cecum, and Bacteroides was the most dominant group in cecum (about 40%), but rarely present in the other 4 intestinal sections. Differences of microbial composition between the 5 intestinal locations might be a cause and consequence of gut functional differences and may also reflect host selection mediated by innate or adaptive immune responses. All these results could offer some information for the future study on the relationship between intestinal microbiota and broiler chicken growth performance as well as health.

Hollow spherical structures with abundant mesoporous are of great interest for electrode materials in lithium-ion batteries (LIBs). Although there are many synthetic strategies, using template-free methods to construct the hollow spherical structures still faces great challenges. Herein, we designed a simple template-free method to successfully obtain uniform hollow TiO2 microspheres (TiO2–H) with a well-defined hollow interior and abundant mesoporous. Owing to the structural superiority, the as-prepared TiO2–H as an electrode material for LIBs delivers a high specific capacity of ∼132 mAh g−1 at a current density of 2.0 C after 200 cycles. Besides, it also exhibits satisfying long-term cycling performances with a high specific capacity of ∼100 mAh g−1 at a large current density of 5.0 C after 800 cycles. These superior cycling performances and strong structure stability of TiO2–H electrodes are attributed to the hollow spherical structures with large specific surface areas and rich mesoporous, which can ensure Li ion diffusion and provide sufficient electrochemical reaction sites, as well as remit the large volume changes.

Perovskite-structured (SmxSr1-x)SnO3 (SSSO) films with x = 0–0.15 were epitaxially grown on LaAlO3(001) substrates by pulsed laser deposition, and the microstructure, transport and optical properties were investigated in detail. X-ray diffraction results show that the lattice constants gradually decrease with the Sm content increasing. Atomic force microscopy images confirm that all the films possess a smooth surface with low surface roughness. X-ray photoelectron spectroscopy measurements prove the existence of Sm3+ state in the doped SSSO films. Hall-effect measurements show that the film at x = 0.06 has the lowest room-temperature resistivity of 5.91 mΩcm and the highest electron mobility of 14.8 cm2/Vs. Temperature-dependent resistivity curves were fitted and explained by weak localization effect and e--e- interactions at low temperatures for films at x = 0.04 to 0.10. Optical transparency of all the films is more than 70% in the wavelength range from 600 to 1800 nm, and the band gaps increase gradually from 4.27 to 4.60 eV with increasing Sm content to 0.06, which can be ascribed to Burstein-Moss effect. Furthermore, the insertion of pure SrSnO3 buffer layer between the substrate and the SSSO film considerably reduces the density of dislocations, thereby leading to the improved electrical transport property. All these results bring rare-earth element Sm a step closer to optoelectronic applications of all-perovskite transparent and conductive oxides.

The phonon and electronic properties of Ti2SiC have been investigated by first-principles calculations using the plane-wave pseudopotential method. The structural and elastic properties of Ti2SiC are briefly discussed, and its dynamical stability is confirmed by phonon spectra. The electronic density of state, electron charge density and Mulliken population analysis have been explored to discuss the electronic properties and bonding behaviors of Ti2SiC, which indicts that Ti2SiC is anisotropic and its bonding nature is a combination of covalent, ionic and metallic. The present calculation results compare satisfactorily with the previous theoretical calculations.

This study investigated fifteen Neolithic cities distributed in a crescent-shaped belt along the middle Yangtze River from the period between ∼4750 and 3050 BC (∼6.7–5.0 cal. ka BP). The belt consists of a low-lying medial alluvial plain surrounded by hills more than 50 m a.s.l. (above sea level). The Neolithic cities within this belt occupied three distinct topographies, the highlands of alluvial plains, the lower foothills, and the surrounding hills. All the cities were situated adjacent to the lowest level tributaries or smallest lakes, and had complex trench defense systems, with rivers and lakes interlinking the trenches, and most of the cities had defensive moats. Construction peaks of defensive fortifications occurred during the Daxi (4550–3050 BC) and Qujialing cultures (3050–2650 BC), while most Neolithic cities were abandoned in the late Shijiahe period (∼2250 BC). Based on assessments on the locality, age, construction, and the detailed information on the geographical characteristics of the Neolithic cities, the sites of Neolithic cities were tightly associated with the development history of East civilization, and the rise of the cities is well correlated with the warm and humid climate in mid-Holocene (∼5.2 cal. ka BP, or ∼3250 BC), while the decline of the ancient cities is related with the dry and cold climate in mid-late Holocene (∼4.2 cal. ka BP, or ∼2250 BC). The development and decline of these cities were also well linked with water accessibility, topography, and the occurrence of droughts, floods and other extreme events during the mid-Holocene. Such environment conditions and climate changes played significant roles for the ancient people to determine the location, structure, and morphology of the cities. Although the military considerations were also important, we cannot simply consider the prehistoric city construction in the middle Yangtze River was a passive defense against foreign invasion.

Background Diabetic nephropathy (DN) is one of the most serious and dangerous chronic complications of diabetes mellitus.Panax notoginseng has been widely used with great efficacy in the long-term treatment of kidney disease. However, the mechanism by which it exerts its effects has not been fully elucidated. Aim We sought to identify the major components ofPanax notoginseng that are effective in reducing the symptoms of DN in vitro and in vivo. Methods Inhibition of cell proliferation and collagen secretion were used to screen the ten most highly concentrated components ofPanax notoginseng. The STZ-induced DN rat model on a high-fat-high-glucose diet was used to investigate the renal protective effect of Panax notoginseng and dencichine and their underlying molecular mechanisms. Results Among the ten components analysed, dencichine (β-N-oxalyl-L-α,β-diaminopropionic acid) was the most protective against DN. Dencichine andPanax notoginseng attenuated glucose and lipid metabolic disorders in STZ-induced DN rats on a high-fat-high-glucose diet. In the untreated DN rats, we observed albuminuria, renal failure, and pathological changes. However, treatment with dencichine and Panax notoginseng alleviated these symptoms. We also observed that dencichine suppressed the expression of TGF-β1 and Smad2/3, which mediates mesangial cell proliferation and extracellular matrix (ECM) accumulation in the glomerulus, and enhanced the expression of Smad7, the endogenous inhibitor of the TGF-β1/Smad signalling pathway. Conclusion From these results, we concluded that dencichine is the main compound inPanax notoginseng that is responsible for alleviating renal injury in the experimental DN model. Its mechanism may be related to the reduction of the deposition of ECM in glomeruli and inhibition of the epithelial mesenchymal transformation (EMT) by inhibition of the TGF-β1/Smad signalling pathway.

The formation of eight biogenic amines (BAs), total volatile base nitrogen (TVB-N), aerobic plate counts (APC), and sensory evaluation in crucian carp (Carassius auratus) during storage in ice and at 4°C were investigated. The sum of contents of all eight biogenic amines (SBA) in crucian carp increased from 49.82 to 197.09 mg/kg on day 36 when stored in ice and from 49.82 to 219.35 mg/kg on day 24 when stored at 4°C. TVB-N content increased with storage time; good relationships between TVB-N content and SBA were observed during storage in ice and at 4°C (R(2) = 0.95 and 0.93, respectively). APC of all samples significantly (P < 0.05) increased with storage time in the first 12 days and toward the end of the storage period, there were only minor changes; good relationships between APC and SBA were observed during storage in ice and at 4°C (R(2) = 0.96 and 0.58, respectively). According to sensory evaluation results, the crucian carp became unacceptable on days 24 and 16 during storage in ice and at 4°C, respectively. Putrescine and tyramine contents could be good quality evaluation indices for crucian carp during storage.