Velmurugan Palaniappan Shanmugam, Raghavendra R. H. Raghu, S. A.
This paper is to analyze the efficiency of agricultural spices commodity markets by assessing the relationships between futures prices and spot market prices of major agricultural spices commodities in India during the sample period of January 2010 through December 2014. The econometric tools like Unit root tests, Johansen co-integration test, and Pairwise Granger Causality tests were employed in the study. The Augmented Dickey-Fuller tests and Phillips-Perron tests employed in the study proved that both the selected metals markets were stationary series, Johansen co-integration test proved selected metals spot and future markets are co-integrating each other and the Granger Causality test proved uni-causality relationships among these markets between spot and future market return series during the study period.
{"title":"Efficiency in Agricultural Spice Commodities Futures Markets in India","authors":"Velmurugan Palaniappan Shanmugam, Raghavendra R. H. Raghu, S. A.","doi":"10.2139/ssrn.2995335","DOIUrl":"https://doi.org/10.2139/ssrn.2995335","url":null,"abstract":"This paper is to analyze the efficiency of agricultural spices commodity markets by assessing the relationships between futures prices and spot market prices of major agricultural spices commodities in India during the sample period of January 2010 through December 2014. The econometric tools like Unit root tests, Johansen co-integration test, and Pairwise Granger Causality tests were employed in the study. The Augmented Dickey-Fuller tests and Phillips-Perron tests employed in the study proved that both the selected metals markets were stationary series, Johansen co-integration test proved selected metals spot and future markets are co-integrating each other and the Granger Causality test proved uni-causality relationships among these markets between spot and future market return series during the study period.","PeriodicalId":287077,"journal":{"name":"ERN: Asia & Pacific (Emerging Markets) (Topic)","volume":"86 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116559498","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Chinese commercial banks are increasingly using syndicated lending (SL) to develop cross-border business. In this study we examine the determinants of cross-border SL during the period 2006-2014 across 68 countries. The results show that expected credit risk is one of the main drivers of Chinese banks’ overseas syndication but that there are additional drivers, including government ownership, free riding, compensation for limited physical presence in borrower countries, the lowering of information asymmetries and diversification of the lending portfolio. We also find that Chinese banks prefer to group together in a syndicate rather than partner with a foreign-owned bank, and they demonstrate different motivations when extending SLs to developed and developing countries.
{"title":"Investigating the Drivers of Chinese Bank Cross-border Syndicated Lending","authors":"Xiaotian Wang, A. Barakat, R. Webb","doi":"10.2139/ssrn.2984605","DOIUrl":"https://doi.org/10.2139/ssrn.2984605","url":null,"abstract":"Chinese commercial banks are increasingly using syndicated lending (SL) to develop cross-border business. In this study we examine the determinants of cross-border SL during the period 2006-2014 across 68 countries. The results show that expected credit risk is one of the main drivers of Chinese banks’ overseas syndication but that there are additional drivers, including government ownership, free riding, compensation for limited physical presence in borrower countries, the lowering of information asymmetries and diversification of the lending portfolio. We also find that Chinese banks prefer to group together in a syndicate rather than partner with a foreign-owned bank, and they demonstrate different motivations when extending SLs to developed and developing countries.","PeriodicalId":287077,"journal":{"name":"ERN: Asia & Pacific (Emerging Markets) (Topic)","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129228963","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
CPEC, a mega project that aims to connect Gwadar from Kashghar, is not only a game changer for China and Pakistan but it is for the whole region. This research paper will disclose the impact of the announcement of CPEC on different sectors including cement, automobile, banking, insurance and steel. Excess returns of stock were determined and taken as dependent variable, whereas; excess returns of KSE 100 were taken as independent variable. Simple regression technique was used to interpret beta and sig values. Because of the increased local demand and high import rate, 4 out of 5 betas showed downfall, however; sig values remained highly significant. More local industries to be setup to meet the rise in demand and to maintain the level of betas. It will be a win-win situation for foreign investors as the rate of local manufacturing is comparatively lower than the current demand of goods because of the increased rate of CPEC related developments.
{"title":"Sectoral Betas: Pre and Post CPEC Announcement Comparison","authors":"Maryam Zafar, Nawaz Ahmad","doi":"10.2139/SSRN.2975786","DOIUrl":"https://doi.org/10.2139/SSRN.2975786","url":null,"abstract":"CPEC, a mega project that aims to connect Gwadar from Kashghar, is not only a game changer for China and Pakistan but it is for the whole region. This research paper will disclose the impact of the announcement of CPEC on different sectors including cement, automobile, banking, insurance and steel. Excess returns of stock were determined and taken as dependent variable, whereas; excess returns of KSE 100 were taken as independent variable. Simple regression technique was used to interpret beta and sig values. Because of the increased local demand and high import rate, 4 out of 5 betas showed downfall, however; sig values remained highly significant. More local industries to be setup to meet the rise in demand and to maintain the level of betas. It will be a win-win situation for foreign investors as the rate of local manufacturing is comparatively lower than the current demand of goods because of the increased rate of CPEC related developments.","PeriodicalId":287077,"journal":{"name":"ERN: Asia & Pacific (Emerging Markets) (Topic)","volume":"7 Suppl 6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128543218","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper studies the causes and effects of portfolio flows in Malaysia. We use Structural Vector Autoregression (SVAR) and Autoregressive Distributed Lag (ARDL) models to analyse the interactions among portfolio flows, global and domestic macro and financial variables within a common empirical framework. Three findings emerge: First, the SVAR estimations show that global and domestic factors play transitory roles in driving Malaysia’s net portfolio flows. A subsample analysis from the ARDL model highlights that domestic factors play an increasingly important role in attracting portfolio inflows as Malaysia liberalised its exchange rate regime and capital flow restrictions. Second, higher net portfolio flows lead to exchange rate appreciation, higher equity prices and credit expansion. The effects are visible in the exchange rate, followed by equity prices and credit. Third, in the transmission of higher portfolio flows to growth, the positive effects from higher equity prices and credit are partially offset by the dampening effect from the appreciating exchange rate on output. While the contribution of portfolio flow’s effects on output variance is low, the impulse responses of output does change to portfolio flow shocks, suggesting that portfolio flows are tail risks to growth and that the risks magnify when the flows are large and volatile.
{"title":"Macro-Financial Effects of Portfolio Flows: Malaysia's Experience","authors":"T. Hwa, M. Raghavan, Teh Tian Huey","doi":"10.2139/ssrn.2962154","DOIUrl":"https://doi.org/10.2139/ssrn.2962154","url":null,"abstract":"This paper studies the causes and effects of portfolio flows in Malaysia. We use Structural Vector Autoregression (SVAR) and Autoregressive Distributed Lag (ARDL) models to analyse the interactions among portfolio flows, global and domestic macro and financial variables within a common empirical framework. Three findings emerge: First, the SVAR estimations show that global and domestic factors play transitory roles in driving Malaysia’s net portfolio flows. A subsample analysis from the ARDL model highlights that domestic factors play an increasingly important role in attracting portfolio inflows as Malaysia liberalised its exchange rate regime and capital flow restrictions. Second, higher net portfolio flows lead to exchange rate appreciation, higher equity prices and credit expansion. The effects are visible in the exchange rate, followed by equity prices and credit. Third, in the transmission of higher portfolio flows to growth, the positive effects from higher equity prices and credit are partially offset by the dampening effect from the appreciating exchange rate on output. While the contribution of portfolio flow’s effects on output variance is low, the impulse responses of output does change to portfolio flow shocks, suggesting that portfolio flows are tail risks to growth and that the risks magnify when the flows are large and volatile.","PeriodicalId":287077,"journal":{"name":"ERN: Asia & Pacific (Emerging Markets) (Topic)","volume":"95 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-05-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124618764","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The current study contributes to the banking literature by being the first research investigating the competitive conditions of different banking markets using a sample of Chinese commercial banks over the period 2003-2013. It further contributes to banking literature by testing the inter-relationships between competition, different types of efficiencies and different types of risk under a three-stage least square estimator. The results show that competition leads to higher capital, liquidity and credit risk, while higher revenue efficiency leads to lower risk. It is found that efficiency is significantly and negatively related to competition. Finally, the findings show that competition-inefficiency hypothesis holds.
{"title":"Risk, Competition, and Efficiency in Chinese Banking: The Role of Interest Rate Liberalization","authors":"Y. Tan","doi":"10.2139/ssrn.2949045","DOIUrl":"https://doi.org/10.2139/ssrn.2949045","url":null,"abstract":"The current study contributes to the banking literature by being the first research investigating the competitive conditions of different banking markets using a sample of Chinese commercial banks over the period 2003-2013. It further contributes to banking literature by testing the inter-relationships between competition, different types of efficiencies and different types of risk under a three-stage least square estimator. The results show that competition leads to higher capital, liquidity and credit risk, while higher revenue efficiency leads to lower risk. It is found that efficiency is significantly and negatively related to competition. Finally, the findings show that competition-inefficiency hypothesis holds.","PeriodicalId":287077,"journal":{"name":"ERN: Asia & Pacific (Emerging Markets) (Topic)","volume":"72 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129365338","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We examine whether sizable initial public offerings (IPOs) affect the whole market. Using a Chinese IPO sample, we find robust evidence that sizable IPOs do depress the market price on not only the listing day but also the offering (subscription) day. The impact on the market is negatively correlated with the IPO size on the listing day. However, the IPO impact is largely transitory. The China Securities Regulatory Commission (CSRC) often places a moratorium on IPOs to support the market, which seems ineffective as the negative IPO effect is transitory and moratoriums are not perceived as good news.
{"title":"Do IPOs Affect the Market Price? Evidence from China","authors":"S. Shi, Qian Sun, Xin Zhang","doi":"10.2139/ssrn.2979859","DOIUrl":"https://doi.org/10.2139/ssrn.2979859","url":null,"abstract":"We examine whether sizable initial public offerings (IPOs) affect the whole market. Using a Chinese IPO sample, we find robust evidence that sizable IPOs do depress the market price on not only the listing day but also the offering (subscription) day. The impact on the market is negatively correlated with the IPO size on the listing day. However, the IPO impact is largely transitory. The China Securities Regulatory Commission (CSRC) often places a moratorium on IPOs to support the market, which seems ineffective as the negative IPO effect is transitory and moratoriums are not perceived as good news.","PeriodicalId":287077,"journal":{"name":"ERN: Asia & Pacific (Emerging Markets) (Topic)","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134303521","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-10-06DOI: 10.7172/2449-6634.JMCBEM.2016.2.1
Abdulrauf Animashaun, Tarila Iman Tunkarimu, Omkar Dastane
Numerous researchers have centred their attention on Customer Perceived Value towards brands but only a few have focussed on CPV towards convenience stores. The main purpose of the research is to measure the CPV dimensions and identify which dimension infl uences customer satisfaction and as a result leads to customer loyalty and retention for convenience stores in Malaysia. Independent variables such as functional, conditional, social, emotional and economic values were taken into account; the number of 200 customers were sampled, using a blend of explanatory and descriptive research design and a quantitative research method. The reliability was measured ranging from (? =.560-.966) using Cronbach’s alpha. The application of descriptive statistics and correlation analysis was intended to explain the relationship between the independent and dependent variables of the research, whereas the inferential statistics and linear regression were used to test the hypotheses; with a signifi cance level p ? 0/05 whereby the fi ndings of the research showed that economic value has a high infl uence on customer satisfaction as well as loyalty and retention. However, based on the fi ndings customers are highly infl uenced by the economic value they get from a convenience store. Among the realistic contributions are positioning value pricing, formulating a strategy that encourages convenience value, connects to customers’ emotions during shopping and also creates a diverse approach that sets a convenience store apart from another. However, there is a need for future studies to extend the model of this research by adding other perceptions such as demographic features of the consumers.
{"title":"Customer Perceived Value towards Convenience Stores in Malaysia: The Influence on Customer Satisfaction, Loyalty and Retention","authors":"Abdulrauf Animashaun, Tarila Iman Tunkarimu, Omkar Dastane","doi":"10.7172/2449-6634.JMCBEM.2016.2.1","DOIUrl":"https://doi.org/10.7172/2449-6634.JMCBEM.2016.2.1","url":null,"abstract":"Numerous researchers have centred their attention on Customer Perceived Value towards brands but only a few have focussed on CPV towards convenience stores. The main purpose of the research is to measure the CPV dimensions and identify which dimension infl uences customer satisfaction and as a result leads to customer loyalty and retention for convenience stores in Malaysia. Independent variables such as functional, conditional, social, emotional and economic values were taken into account; the number of 200 customers were sampled, using a blend of explanatory and descriptive research design and a quantitative research method. The reliability was measured ranging from (? =.560-.966) using Cronbach’s alpha. The application of descriptive statistics and correlation analysis was intended to explain the relationship between the independent and dependent variables of the research, whereas the inferential statistics and linear regression were used to test the hypotheses; with a signifi cance level p ? 0/05 whereby the fi ndings of the research showed that economic value has a high infl uence on customer satisfaction as well as loyalty and retention. However, based on the fi ndings customers are highly infl uenced by the economic value they get from a convenience store. Among the realistic contributions are positioning value pricing, formulating a strategy that encourages convenience value, connects to customers’ emotions during shopping and also creates a diverse approach that sets a convenience store apart from another. However, there is a need for future studies to extend the model of this research by adding other perceptions such as demographic features of the consumers.","PeriodicalId":287077,"journal":{"name":"ERN: Asia & Pacific (Emerging Markets) (Topic)","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126729791","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We study the effect of block shareholding on stock liquidity using panel models for 128 stocks from the period 2011 to 2014. After controlling for the size of the firm, ownership concentration is found to have a small statistically significant negative effect on liquidity. Ownership structure models indicate that block shareholding by Government has a negative effect on liquidity. However, we do not find any statistically significant effects due to block shareholding by individuals and families or foreign or domestic institutions. Lower turnovers of state owned companies may be due to lack of trading rather than information asymmetry or signalling effects.
{"title":"Block Shareholders and Stock Liquidity in the Indian Stock Market: Lack of Trading or Information Asymmetry?","authors":"Devlina Chatterjee","doi":"10.2139/ssrn.2808988","DOIUrl":"https://doi.org/10.2139/ssrn.2808988","url":null,"abstract":"We study the effect of block shareholding on stock liquidity using panel models for 128 stocks from the period 2011 to 2014. After controlling for the size of the firm, ownership concentration is found to have a small statistically significant negative effect on liquidity. Ownership structure models indicate that block shareholding by Government has a negative effect on liquidity. However, we do not find any statistically significant effects due to block shareholding by individuals and families or foreign or domestic institutions. Lower turnovers of state owned companies may be due to lack of trading rather than information asymmetry or signalling effects.","PeriodicalId":287077,"journal":{"name":"ERN: Asia & Pacific (Emerging Markets) (Topic)","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-07-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123832323","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Patrick Glenn Rollon, Precious Jane Peñas, Jeamuel Jan Concha, J. V. Murcia
The purpose of this study was to determine the causative relationship between the macroeconomic activities towards the Financials index of the Philippines Stocks Exchange. A descriptive-causative type of research was used to describe the behaviour of the macroeconomic variables, i.e. foreign direct investments, OFW remittances and peso-US dollar exchange rate, towards Financials (FIN) index of the Philippines for the period covering from January 2006 to October 2015. Bivariate Granger causality was used to determine the presence of causality between the variables. It was found out that the behaviour on each graph of each variable shows volatility and vulnerability from shocks caused by different factors in certain points of time. Results from bivariate estimations showed unidirectional relationship existing between OFW remittances and Financials (FIN) index of the Philippines. The same goes for the peso-US dollar exchange rate and Financials (FIN) index. On the other hand, the estimation showed a bidirectional relationship between foreign direct investment and the Financials (FIN) index having both of the variables significantly causing each other.
{"title":"Causality of Macroeconomic Factors on the Movement of Financial (FIN) Index of the Philippine Stock Exchange","authors":"Patrick Glenn Rollon, Precious Jane Peñas, Jeamuel Jan Concha, J. V. Murcia","doi":"10.2139/ssrn.2780302","DOIUrl":"https://doi.org/10.2139/ssrn.2780302","url":null,"abstract":"The purpose of this study was to determine the causative relationship between the macroeconomic activities towards the Financials index of the Philippines Stocks Exchange. A descriptive-causative type of research was used to describe the behaviour of the macroeconomic variables, i.e. foreign direct investments, OFW remittances and peso-US dollar exchange rate, towards Financials (FIN) index of the Philippines for the period covering from January 2006 to October 2015. Bivariate Granger causality was used to determine the presence of causality between the variables. It was found out that the behaviour on each graph of each variable shows volatility and vulnerability from shocks caused by different factors in certain points of time. Results from bivariate estimations showed unidirectional relationship existing between OFW remittances and Financials (FIN) index of the Philippines. The same goes for the peso-US dollar exchange rate and Financials (FIN) index. On the other hand, the estimation showed a bidirectional relationship between foreign direct investment and the Financials (FIN) index having both of the variables significantly causing each other.","PeriodicalId":287077,"journal":{"name":"ERN: Asia & Pacific (Emerging Markets) (Topic)","volume":"117 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115229829","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article studies the revival of preference shares in China and its strengths and dangers as a viable investment/financing tool. Its main strength is to help Chinese banks meet new capital adequacy requirements and to stimulate the stagnant stock market, and its core danger is its potential misuse by dominant shareholders to expropriate profits from minority common shareholders in the context of weak minority shareholder protection and insufficient cash dividends in the Chinese stock market. Empirical evidence gives partial support to this understanding of its danger because the impact of preference shares on existing common shareholders is mixed and differs among different types of companies. This article also shows that the current regulatory regime in China provides comprehensive protection for preference shareholders, and that compared to minority common shareholders, preference shareholders are in an advantageous position. Although it has the potential danger of being misused by controlling shareholders to expropriate profits from minority common shareholders, it has been used effectively as a viable investment and financing tool in China.
{"title":"Use of Preference Shares in Chinese Companies as a Viable Investment/Financing Tool","authors":"W. Cai","doi":"10.1093/CMLJ/KMW006","DOIUrl":"https://doi.org/10.1093/CMLJ/KMW006","url":null,"abstract":"This article studies the revival of preference shares in China and its strengths and dangers as a viable investment/financing tool. Its main strength is to help Chinese banks meet new capital adequacy requirements and to stimulate the stagnant stock market, and its core danger is its potential misuse by dominant shareholders to expropriate profits from minority common shareholders in the context of weak minority shareholder protection and insufficient cash dividends in the Chinese stock market. Empirical evidence gives partial support to this understanding of its danger because the impact of preference shares on existing common shareholders is mixed and differs among different types of companies. This article also shows that the current regulatory regime in China provides comprehensive protection for preference shareholders, and that compared to minority common shareholders, preference shareholders are in an advantageous position. Although it has the potential danger of being misused by controlling shareholders to expropriate profits from minority common shareholders, it has been used effectively as a viable investment and financing tool in China.","PeriodicalId":287077,"journal":{"name":"ERN: Asia & Pacific (Emerging Markets) (Topic)","volume":"500 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-03-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128905453","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
京公网安备 11010802042870号
京ICP备2023020795号-1
扫码关注我们
求助内容：
应助结果提醒方式：