Pressure Regulation Research Articles

Short-Lived Active Prorenin: Precursor of So-Called Native Prorenin.

The enzymatic activity of the aspartic protease, renin, is critical for its function in blood pressure regulation and sodium homeostasis. Incubation of so-called native prorenin at low pH leads to its activation. After binding to transition-state mimicking renin inhibitors at neutral pH, prorenin attains the active conformation, as indicated by immunosorbent assay using monoclonal antibodies specific for epitopes of the prosegment or the renin body. A comparison of immunosorbent assay with enzyme-kinetic assay revealed the intermediary steps of prorenin auto-activation/inactivation. The kinetically identified intermediary steps of activation/inactivation correspond with the published crystal structures of free renin, free prorenin, and renin in complex with inhibitors. Both renin and activated prorenin exist in 2 forms, α and β. The α form is active, and the α/β quantity ratio is 2.5. The kidney produces renin and prorenin, while the ovarium, placenta, and eye produce inactive prorenin. The production of renin by these organs has never been demonstrated. We propose that the so-called native prorenin in extracellular fluid, including the circulation, is derived, at least partly, from short-lived active prorenin. Its potential paracrine function is discussed.

Adenosine in Interventional Cardiology: Physiopathologic and Pharmacologic Effects in Coronary Artery Disease

This review article focuses on the role of adenosine in coronary artery disease (CAD) diagnosis and treatment. Adenosine, an endogenous purine nucleoside, plays crucial roles in cardiovascular physiology and pathology. Its release and effects, mediated by specific receptors, influence vasomotor function, blood pressure regulation, heart rate, and platelet activity. Adenosine therapeutic effects include treatment of the no-reflow phenomenon and paroxysmal supraventricular tachycardia. The production of adenosine involves complex cellular pathways, with extracellular and intracellular synthesis mechanisms. Adenosine’s rapid metabolism underscores its short half-life and physiological turnover. Furthermore, adenosine’s involvement in side effects of antiplatelet therapy, particularly ticagrelor and cangrelor, highlights its clinical significance. Moreover, adenosine serves as a valuable tool in CAD diagnosis, aiding stress testing modalities and guiding intracoronary physiological assessments. Its use in assessing epicardial stenosis and microvascular dysfunction is pivotal for treatment decisions. Overall, understanding adenosine’s mechanisms and clinical implications is essential for optimizing CAD management strategies, encompassing both therapeutic interventions and diagnostic approaches.

Development of a performance evaluation index system for pressure regulators used in drip tape inlets

Development of a performance evaluation index system for pressure regulators used in drip tape inlets

Inertia, Progress, or Regress? Observing and Explaining Heterogenous Tech Firm Demographic Diversity Trajectories

Tech firms are under strong pressure to increase their demographic diversity. While activists and scholars have tended to treat the sector as homogenously hostile to women and racialized minorities, recent theory on organizational inequalities stresses heterogeneity in firm-level inequality regimes. Beginning with an inductive exploration of variation in executive, managerial, and professional workforce trajectories, we find that between 2008 and 2016 most Tech firms show little change, but that there are also significant clusters of firms that were becoming either much more or much less diverse for all three occupational levels. We model these trajectories as a function of firm visibility, the regulation of federal contractors by the U.S. Department of Labor, and leadership composition. Multinomial logistic regression models show that firms with an increasing (decreasing) diversity pattern in managerial and executive positions are also more likely to become more (less) diverse in their much more numerous professional jobs. Managers are more influential than executive in this regard. Regulatory pressure is associated with increased executive diversity trajectories, but not with managerial or professional trajectories. We conclude that increased Tech diversity is possible but requires leadership, particularly at the middle manager level. In addition, regulatory and visibility pressures primarily produce symbolic shuffles in top jobs.

Impact of regulatory, normative and cognitive institutional pressures on rural agribusiness entrepreneurial opportunities and performance: empirical evidence from Ghana

Abstract Entrepreneurs in the agribusiness sector in Ghana encounter numerous challenges due to the weak institutional framework in the country. This often leads to business failure and poor performance of agribusiness ventures. In this paper, we aim to highlight the significance of institutional support for agribusiness entrepreneurs and its crucial role in creating more opportunities for farm entrepreneurs and ensuring the success of farm ventures. The study analyzes empirical data collected from 246 maize farm entrepreneurs in Ghana using the Structural Equation Modelling technique (PLS-SEM). The findings show that regulatory and cognitive institutions have a more positive significant influence on the opportunity recognition and exploitation strategies of maize farm entrepreneurs. Both opportunity recognition and exploitation partially mediate the effects of regulatory, normative and cognitive institutional pressures and farm business performance. The study suggests that maize farm entrepreneurs appear to benefit from regulatory and cognitive institutions. The findings, therefore, have strong policy relevance. The results of this study contribute significantly to food policy aimed at boosting maize supply chain business and food security.

#1550 Incident hypertension: immune biomarkers and vascular phenotypes

Abstract Background and Aims Blood pressure (BP) regulation is mediated by cardiac, vascular, endocrine, renal, and immune system interactions. Hence, hypertension may exist as different phenotypic variants, with different clinical features and susceptibility to target organ damage. We aimed to analyse the circulating protein biomarker ‘signature’ of: 1) untreated hypertension; 2) hypertensive phenotypes identified by arterial and blood pressure parameters. Method 61 patients with hypertension, and 61 controls were assessed using 24hr ambulatory BP monitoring; endothelial function, arterial stiffness, carotid intima-media thickness (CIMT), and cardiovascular variability [1]. Circulating protein biomarkers analysed using Olink® Inflammation plasma biomarker panel, reported as NPX (Normalized Protein eXpression), in Log2 scale. Results 34 biomarkers dominated by cytokines and chemokines differed between normotensive and hypertensive subjects (Fig. 1), though failed to meet Bonferroni-adjusted threshold. Inflammatory biomarkers correlated with BP and arterial stiffness, BP variability, and CIMT, but not endothelial function. Associations were concordant across systolic and diastolic BP; TPP1, CCL7, CCL11, and CCL21 positively correlating; IL18R1, and KYNU negatively. These relationships were more pronounced in hypertensive subgroup, 85 biomarkers correlating including CD molecules (CD200R1, CD22, CD58, CD6, CD70) and cytokines (IL-5, IL-11, IL-15, IL-18, IL-32, IL-1RL2, IL-22RA1, IL-5RA). HGF, AGE, and CCL21 showed greatest between group differences and correlated with multiple BP or vascular parameters. Systolic nocturnal dipping demonstrated negative correlation with biomarkers relating to immune cell interactions and cellular adhesion (CTRC, EPHA1, LGALS4, SIT1, SMOC, IL-18 and TNFSF11). Machine learning techniques identified three phenotypes of hypertension, ‘arterially stiffened’, ‘vaso-protected’, and ‘non-dipper’ [1]. Sixteen of the 85 correlating biomarkers also differed between these phenotypic groups: Conclusion Hypertension is linked to alterations in circulating immune biomarkers. Multiple biomarkers correlated with both arterial stiffness and BP parameters. Some biomarkers are only correlated in the hypertensive group. Many also relate to nocturnal dipping, and differed across the hypertension endotypes. HGF is a promising biomarker for BP and arterial function; warranting further validation.

The relationship between SGLT2 and systemic blood pressure regulation.

The sodium-glucose cotransporter 2 (SGLT2) is a glucose transporter that is located within the proximal tubule of the kidney's nephrons. While it is typically associated with the kidney, it was later identified in various areas of the central nervous system, including areas modulating cardiorespiratory regulation like blood pressure. In the kidney, SGLT2 functions by reabsorbing glucose from the nephron's tubule into the bloodstream. SGLT2 inhibitors are medications that hinder the function of SGLT2, thus preventing the absorption of glucose and allowing for its excretion through the urine. While SGLT2 inhibitors are not the first-line choice, they are given in conjunction with other pharmaceutical interventions to manage hyperglycemia in individuals with diabetes mellitus. SGLT2 inhibitors also have a surprising secondary effect of decreasing blood pressure independent of blood glucose levels. The implication of SGLT2 inhibitors in lowering blood pressure and its presence in the central nervous system brings to question the role of SGLT2 in the brain. Here, we evaluate and review the function of SGLT2, SGLT2 inhibitors, their role in blood pressure control, the future of SGLT2 inhibitors as antihypertensive agents, and the possible mechanisms of SGLT2 blood pressure control in the central nervous system.

#510 Evaluating tolvaptan as a protective agent for cardiac insufficiency in peritoneal dialysis patients

Abstract Introduction Peritoneal dialysis serves as a highly effective renal replacement therapy, offering prolonged preservation of residual renal function, improved blood pressure regulation, and enhanced quality of life. While diuretics are generally considered safe and beneficial in this context, their efficacy may be limited in certain cases. Background and Aims The rationale behind investigating the potential benefits of tolvaptan in peritoneal dialysis stems from existing studies in Asia, where the use of tolvaptan has been approved in this population. These studies, conducted on patients undergoing peritoneal dialysis, indicate notable improvements in urine output and key heart failure indicators such as Left Ventricular Mass Index (LVMI) and Brain Natriuretic Peptide (BNP). Materials & Methods Recognizing the significance of these findings, a recent meta-analysis was conducted to comprehensively assess the collective data. The meta-analysis encompassed data from five pertinent studies involving a total of 70 peritoneal dialysis patients, with an average age of 66.1 ± 15 years. Participants received tolvaptan in doses of up to 15 mg, and the mean follow-up period was 8.2 ± 3.9 months. Results Results from the meta-analysis revealed a significant increase in urine volume in two out of four instances (Mean Difference [MD]= +554.5 cc [379,730], I²=61.5). While most studies did not indicate substantial changes in body weight or renal kt/V, a notable reduction in Left Ventricular Mass Index was evident in two studies (MD= -43.28 [-84.9,-1.6], I²=80.6%). Additionally, a substantial reduction in BNP was reported in one study, with no documented adverse events across the studies. Conclusion As an adjunct therapy, tolvaptan exhibits potential benefits in volume control, potentially contributing to improved cardiac function in peritoneal dialysis patients. The findings of this study align with existing research, highlighting the positive impact of tolvaptan on heart failure markers. Nevertheless, further high-quality studies are imperative to consolidate and validate these observed benefits in the peritoneal dialysis population.

Epigenetics of hypertension as a risk factor for the development of coronary artery disease in type 2 diabetes mellitus

Hypertension, a multifaceted cardiovascular disorder influenced by genetic, epigenetic, and environmental factors, poses a significant risk for the development of coronary artery disease (CAD) in individuals with type 2 diabetes mellitus (T2DM). Epigenetic alterations, particularly in histone modifications, DNA methylation, and microRNAs, play a pivotal role in unraveling the complex molecular underpinnings of blood pressure regulation. This review emphasizes the crucial interplay between epigenetic attributes and hypertension, shedding light on the prominence of DNA methylation, both globally and at the gene-specific level, in essential hypertension. Additionally, histone modifications, including acetylation and methylation, emerge as essential epigenetic markers linked to hypertension. Furthermore, microRNAs exert regulatory influence on blood pressure homeostasis, targeting key genes within the aldosterone and renin-angiotensin pathways. Understanding the intricate crosstalk between genetics and epigenetics in hypertension is particularly pertinent in the context of its interaction with T2DM, where hypertension serves as a notable risk factor for the development of CAD. These findings not only contribute to the comprehensive elucidation of essential hypertension but also offer promising avenues for innovative strategies in the prevention and treatment of cardiovascular complications, especially in the context of T2DM.

Fencing or balancing? An exploratory study of Australian and New Zealand exporters’ strategic responses during the US-China trade war

PurposeA key challenge for exporters and international marketing/purchasing managers is formulating strategic responses to deal with geopolitical disruptions during a trade war between superpowers. While past studies provide insightful analysis of the influence of changes in the institutional environment (regulatory pressures) on national and firm-level trade activities, they tend to ignore the association between inward (sourcing) or outward (export) international activities of firms during a trade war. In this study, we aim to explore various strategic options employed by third-party SME exporters in response to geopolitical disruptions, institutional pressures and constraints during a trade war.Design/methodology/approachWe adopted a qualitative methodology and applied a hermeneutical approach in collecting, analysing and theorising interview findings. We conducted interviews with 15 owners or senior managers from 12 Australian and New Zealand exporters that exported or sourced significantly from at least one party of the trade war, the USA or China, between 2018 and 2020.FindingsOur study developed a typology of fencing vs. balancing for explaining third-party SME exporters’ response strategies in terms of export market and international sourcing locations during a trade war. Fencing strategy centres on location choice decisions based on a fence or a secure buffer zone. Balancing strategy focuses on leveraging opportunities outside the conflict zone, i.e. third-party countries. Our study finds that exporters’ location choice decisions are influenced by a number of institutional factors during the trade war.Research limitations/implicationsFirstly, our study examined only the early phase of the trade war under the “Trump” era. Future research may consider a longitudinal study design that examines exporters’ responses to global political uncertainty over a longer term. Secondly, we chose Australia and New Zealand as the focal context of this study. Future research could investigate exporters from other third-party countries that have different institutional conditions during the US-China trade war.Practical implicationsFirstly, an exporting firm should monitor and assess closely the wider changes in international relations between their home country’s major security partner and major trading partner, and the impact of these changes on the political risks of operating in international locations. Secondly, as the trade war intensifies, the fencing option needs to be given a greater weight than the balancing option in the strategic decision making of an exporter from a third-party country. Lastly, we encourage marketers and managers to reflect on and differentiate short-term and long-term benefits in strategic market-sourcing location decisions.Originality/valueOur study makes a pioneering effort to theorise the linkages between institutional factors and the combined evaluation of export market selection and sourcing location selection choices under global political uncertainty based on the institution-based view. We present a conceptual framework highlighting the importance of institutional avoidance, embeddedness, comparative institutional advantages and multiple institutional logics for SME exporters’ international location selections during the trade war. Furthermore, we combine these institutional factors into two overarching constructs namely institutional buffer and institutional pluralism.

Circular Economy Strategies in Practice: A Qualitative Examination of Industry Adaptation and Innovation

Objective: This study explores how companies across various industries are implementing circular economy strategies in practice, focusing on the drivers, practices, challenges, enablers, and outcomes of their efforts. Theoretical Framework: The study draws upon multiple theoretical perspectives, including the multi-level perspective on sustainability transitions, the resource-based view of the firm, and institutional theory, to understand the complex factors influencing the adoption and implementation of circular economy strategies. Method: A qualitative, multiple-case study design was employed, involving semi-structured interviews with key informants from 20-30 companies actively engaged in circular economy initiatives. Data were analyzed using a combination of deductive and inductive coding approaches, with member checking and peer debriefing used to enhance trustworthiness. Results and Discussion: The findings reveal that environmental sustainability concerns are the primary driver for companies adopting circular economy strategies, with regulatory pressures, competitive advantage, customer demands, and resource scarcity also playing significant roles. Companies are implementing a wide range of circular economy practices, including eco-design, circular business models, reverse logistics, and industrial symbiosis. Key challenges identified include lack of technical knowledge and skills, inadequate infrastructure and technology, and regulatory barriers, while enablers such as leadership commitment, collaboration and partnerships, and employee engagement are crucial for successful implementation. The study also highlights the positive outcomes of circular economy adoption, including environmental benefits, economic gains, innovation and competitive advantage, customer satisfaction, and employee engagement. Research Implications: This study contributes to the theoretical development of the circular economy field and offers practical implications for managers and policymakers. Originality/Value: This study addresses the lack of comprehensive, cross-sectoral research on circular economy implementation in practice, providing valuable insights into the experiences of companies across different industries.

Intracellular Calcium Dynamics in Primary Human Adrenocortical Cells Deciphered with a Novel Pipeline.

The fluctuations of the intracellular Ca2+ concentration ([Ca2+]i) are key physiological signals for cell function under normal conditions and can undergo profound alterations in disease states, as high blood pressure due to endocrine disorders like primary aldosteronism (PA). However, when assessing such fluctuations several parameters in the Ca2+ signal dynamics need to be considered, which renders their assessmentchallenging. Aimto develop an observer-independent custom-made pipeline to analyze Ca2+ dynamics in terms of frequency and peak parameters, as amplitude, full width at half maximum (FWHM) and area under the curve (AUC). We applied a custom-made methodology to aldosterone-producing adenoma (APA) and APA adjacent cells (AAC) and found this pipeline to be suitable for monitoring and processing a wide-range of [Ca2+]i events in these cell types delivering reproducible results. The designed pipeline can provide a useful tool for [Ca2+]i signal analysis that allows comparisons of Ca2+ dynamics not only in PA, but in other cell phenotypes that are relevant for the regulation of blood pressure.

Effect of Intraoperative Blood Pressure Regulation on Postoperative Hemorrhage After Bariatric Surgery.

With a rising number of bariatric procedures, the absolute number of postoperative complications is increasing, too. Postoperative bleeding, particularly along the staple line, is a recognized challenge. Numerous strategies including reinforcement of the staple line (SLR) have been proposed to improve bleeding rates, but no single technique has shown superiority over the others. In our bariatric center, we have implemented intraoperative blood pressure regulation alone, without SLR, to reduce hemorrhagic complications postoperatively. This retrospective observational analysis compares the incidence of postoperative bleeding in two groups of consecutive patients (total n = 438 patients), one with and one without intraoperative blood pressure elevation to 150mmHg systolic without the additional use of staple line reinforcement. This intervention was integrated into our standard bariatric surgical procedure, no randomization or matching was conducted. Significant postoperative bleeding was defined as drop of hemoglobin of more than 2.5mg/dl in 48h and one of the following symptoms: lactate ≥ 2mmol/L, bloody drainage, quantity of drainage more than 200ml and/or radiological signs. Defined postoperative bleeding occurred in 33 (7.5%) patients. We observed a decrease in bleeding rates from 10% to 5% (n = 22 vs. n = 11) after introducing intraoperative blood pressure increase (p = 0.034). The rate of revisional surgery for bleeding also decreased from 2.7% to 0.5% (n = 6 vs. n = 1). In multivariate analysis, the intervention with blood pressure elevation showed a significant decrease on bleeding rates (p = 0.038). The use of increased intraoperative blood pressure alone, without staple line reinforcement, appears to be an effective and suitable method for reducing post-bariatric hemorrhagic complications.

Impact of Ultrafiltration Profiling Compared to Conventional Methods on Blood Pressure Regulation Among Hemodialysis Patients

Background: Standard hemodialysis sessions pose challenges for patients due to fluctuations in blood pressure. Alternative strategies, such as ultrafiltration profiling, have been proposed as potentially more effective treatments. Objectives: This study aimed to evaluate the effects of ultrafiltration profiling compared to the conventional method on blood pressure regulation among hemodialysis patients. Methods: This study employed a pre-test and post-test design, involving a single group of 30 hemodialysis patients undergoing treatment at Shahid Beheshti Hospital in Hamadan in 2022. The sampling method used was simple random sampling. The intervention consisted of three sessions using the routine method, followed by three sessions utilizing the ultrafiltration profile method, which employed an interval with a negative slope. Demographic and clinical information about the patients was recorded on a checklist. Systolic and diastolic blood pressure measurements were taken before the commencement of hemodialysis, at 1-, 2-, and 3-hour intervals post-treatment initiation, and again 15 minutes after completing hemodialysis. Results: The mean blood pressure changes observed during dialysis stages increased with both methods; however, there was a significant difference between the methods (P < 0.001). Specifically, patients receiving the ultrafiltration profile method experienced significantly lower increases in blood pressure compared to those receiving the routine method. Conclusions: Based on the research results, integrating ultrafiltration profiling into hemodialysis can be regarded as an effective and viable strategy for enhancing blood pressure regulation in patients undergoing hemodialysis treatment. Therefore, it is recommended that this approach be considered in hemodialysis programs as well.

Genetics of Hypertension: From Monogenic Analysis to GETomics.

Arterial hypertension is the most frequent cardiovascular risk factor all over the world, and it is one of the leading drivers of the risk of cardiovascular events and death. It is a complex trait influenced by heritable and environmental factors. To date, the World Health Organization estimates that 1.28 billion adults aged 30-79 years worldwide have arterial hypertension (defined by European guidelines as office systolic blood pressure ≥ 140 mmHg or office diastolic blood pressure ≥ 90 mmHg), and 7.1 million die from this disease. The molecular genetic basis of primary arterial hypertension is the subject of intense research and has recently yielded remarkable progress. In this review, we will discuss the genetics of arterial hypertension. Recent studies have identified over 900 independent loci associated with blood pressure regulation across the genome. Comprehending these mechanisms not only could shed light on the pathogenesis of the disease but also hold the potential for assessing the risk of developing arterial hypertension in the future. In addition, these findings may pave the way for novel drug development and personalized therapeutic strategies.

Impact of the Delay Period between Electrochemical Hydrogen Charging and Tensile Testing on the Mechanical Properties of Mild Steel

With escalating global regulatory pressure for countries to adhere to emission laws, repurposing existing natural gas pipelines for hydrogen-based commodities stands to be an economical solution. However, the effects of hydrogen embrittlement must be thoroughly considered for this application to avoid the unexpected catastrophic failure of these pipelines. The literature proposes several physicochemical embrittlement models. This paper reports one aspect of hydrogen embrittlement that remains to be quantified: the recovery of ductility (embrittlement) of mild steel specimens subjected to artificially accelerated hydrogen absorption via electrochemical charging as a function of time. The effects of charging duration and particularly the delay period between charging and mechanical tensile testing were investigated. Unsurprisingly, longer charging time shows a greater loss of elongation; however, a more extensive recovery of ductility correlated with longer charging time in the first few days after charging. The data also show that while the uncharged mild steel met all minimum required values for strength and elongation for the specified grade, there was a substantial variability in the elongation to failure. The same trends in variability of elongation translated to the hydrogen-charged specimens. Due to this extensive variability, failure to meet the elongation specification of the grade is reported based on the worst-case scenario obtained for a given set of samples for each exposure condition. These results have practical implications for the monitoring and testing of infrastructure exposed to hydrogen, particularly as this relates to industry planned operational shutdown schedules.

Treatment of peritoneal fibrosis: Therapeutic prospects of bioactive Agents from Astragalus membranaceus

Peritoneal dialysis is one of the renal replacement treatments for patients with end-stage renal disease. Peritoneal dialysis-related peritoneal fibrosis is a pathological change in peritoneal tissue of peritoneal dialysis patients with progressive, non-suppurative inflammation accompanied by fibrous tissue hyperplasia, resulting in damage to the original structure and function, leading to peritoneal function failure. Currently, there is no specific drug in the clinic. Therefore, it is necessary to find a drug with good effects and few adverse reactions. Astragalus membranaceus (AMS) is the dried root of the Astragalus membranaceus (Fisch.) Bge. AMS and its active ingredients play a significant role in anti-inflammation, anti-fibrosis, regulation of immune function and regulation of blood pressure. Studies have shown that it can alleviate peritoneal fibrosis by reducing inflammatory response, inhibiting oxidative stress, degrading extracellular matrix deposition, regulating apoptosis, and regulating Transforming Growth Factor-β. The author summarized the relationship between AMS and its active ingredients by referring to relevant literature at home and abroad, in order to provide some theoretical basis for further clinical research.

Non-neuronal cell-derived acetylcholine, a key modulator of the vascular endothelial function in health and disease

Vascular endothelial cells play an important role in regulating peripheral circulation by modulating arterial tone in the microvasculature. Elevated intracellular Ca2+ levels are required in endothelial cells to induce smooth muscle relaxation via endothelium-dependent mechanisms such as nitric oxide production, prostacyclin, and endothelial cell hyperpolarization. It is well established that exogenous administration of acetylcholine can increase intracellular Ca2+ concentrations, followed by endothelium-dependent vasodilation. Although endogenous acetylcholine's regulation of vascular tone remains debatable, recent studies have reported that endogenously derived acetylcholine, but not neuronal cell-derived acetylcholine, is a key modulator of endothelial cell function. In this minireview, we summarize the current knowledge of the non-neuronal cholinergic system (NNCS) in vascular function, particularly vascular endothelial cell function, which contributes to blood pressure regulation. We also discuss the possible pathophysiological impact of endothelial NNCS, which may induce the development of vascular diseases due to endothelial dysfunction, and the potential of endothelial NNCS as a novel therapeutic target for endothelial dysfunction in the early stages of metabolic syndrome, diabetes, and hypertension.

Fishing in muddy water? Climate policy uncertainty and corporate greenwashing in environmental, social, and governance

AbstractThis study investigates the relationship between climate policy uncertainty and corporate greenwashing behavior using data from Chinese A‐share listed companies from 2009 to 2021. The results indicate that the increasing climate policy uncertainty significantly and robustly strengthens corporate greenwashing behavior, particularly among firms located in regions with weaker environmental regulations, within high‐polluting industries and with shorter‐term management perspectives. Additionally, the development and widespread adoption of digital technologies, along with enhanced external regulatory pressures, can inversely moderate the positive relationship between climate policy uncertainty and corporate greenwashing. In summary, this study contributes to our understanding of corporate behavior under climate risks and provides insights for achieving social sustainability.

The Impact of Stock Price Crash Risk on Bank Dividend Payouts

In this study, we examine whether and how banks employ dividend payout policies in response to the risk of stock price crashes. Using a sample of U.S. banks, we find that banks increase their dividend payouts when faced with a higher risk of stock price crashes. In addition, we find that well-capitalized banks tend to pay more dividends when the risk of a stock price crash is elevated. This aligns with the regulatory pressure theory that banks distribute dividends when they have sufficient capital that meets or exceeds the regulatory standards. This is also in line with the signaling theory that dividend payments reflect a bank’s confidence in its financial health. Furthermore, we find that financially opaque banks tend to make more dividend payments when they are at a higher risk of stock price crashes. This supports the agency cost theory, suggesting that dividends counterbalance the need to monitor bank managers in less transparent reporting environments.