Suchergebnisse

Zusammenfassung
Angesichts der veränderten Situationen und Bedingungen für interkulturelle Kommunikation (Globalisierung, Migrationsbewegung, digitale Vernetzung etc.) wird in der Interkulturalitätsforschung seit Anfang des neuen Jahrhunderts verstärkt an einer konzeptuellen Neuorientierung gearbeitet. Der vorliegende Beitrag geht exemplarisch-exploratorisch auf die aktuellen Diskurse zum Kultur- und Interkulturalitätskonzept ein und versucht dabei, sowohl die dort ausgetragene Kritik an den "alten" Konzeptionen als auch die als "neu" bezeichneten Überlegungen und Ansätze näher zu beleuchten und kritisch zu hinterfragen. Außerdem wird der Frage nachgegangen, warum die neuen Theorien und Modelle kaum in der interkulturellen Praxis umgesetzt werden konnten. Unter den Aspekten eines diskursiv-reflexiven Kulturverständnisses wird schließlich diskutiert, was wir aus den neuen Debatten lernen können.

Zusammenfassung
Im vorliegenden Beitrag werden einige altbekannte Fragen in der Übersetzungsforschung und -praxis aufgegriffen und aus interkultureller Sicht neu reflektiert. Anhand von exemplarischen Übersetzungen geisteswissenschaftlicher Schlüsselwörter, die in ihrem historischen, soziokulturellen und sprachlichen Kontext sowie im Hinblick auf ihre Verwendung und Wirkung hin analysiert bzw. diskutiert werden, möchten wir der Frage nachgehen, was interkulturell qualifiziertes Übersetzen auszeichnet.

Der Beitrag geht der Frage nach, ob bei der Entwicklung der interkulturellen Kompetenz in verschiedenen kulturellen Kontexten auch unterschiedliche Anforderungen in Betracht kommen bzw. eine andere Gewichtung einzelner Anforderungsprofile erforderlich ist. Diskutiert wird die Frage am Beispiel der Lernhaltung, der Konfliktbereitschaft und der Dialogfähigkeit, und zwar fokussiert auf die chinesische Gegenwartsgesellschaft und auf die Nachwirkung und Bedeutung der Kulturtradition im heutigen China.

A wave of mergers and acquisitions (M&A) has been consistently rising among the China's ChiNext companies over the past years, which has drawn great attention across academia and industry. Based on the neoclassical theory and the behavioral theory, this paper explores the driving factors of M&A among Chinese ChiNext companies. Two hypotheses were put forward: one based on IPO over-financing and the other based on the market value overvaluation. IPO over-financing is specific to the Chinese capital market while market value overestimation is driven by the continuous upsurge in the ChiNext Market. Our study found that both factors account for enterprises' mergers and acquisitions. They have far-reaching influences on such fields as acquisition probability, the size of the transaction, transaction frequency, M&A payment method and market reaction. Due to IPO over-financing, enterprises tend to carry out M&A via cash payment or cash and stock mixed payment method. Heavier IPO over-financing will increase the chance of M&A and leads to larger transaction size and higher transaction frequency. Market value overvaluation will lead to more uses of stock or cash and stock mixed payment on M&A transactions. When the company's stock is overvalued, the company will use the overvalued equity to acquire other companies. Greater overvaluation of the market value also increases the chance of M&A and leads to a larger transaction size and higher frequency of M&A. In China, IPO over-financing rather than market value over-valuation, is the major driving factor for China's corporate mergers and acquisitions. Further study found that the market reaction to different payment methods in mergers and acquisitions varies: it has the minimum reaction on cash payment, a larger reaction on stock payment and the greatest reaction on mixed payment. Also, the mixed payment method has the largest cumulative abnormal returns. This is different from the empirical findings in the United States and Europe. This paper provides a theoretical basis and empirical evidence for an in-depth understanding of the wave of mergers and acquisitions of Chinese ChiNext companies, and provides a basis for decision-making and policy recommendations for the government regulators and investors.

A wave of mergers and acquisitions (M&A) has been consistently rising among the China's ChiNext companies over the past years, which has drawn great attention across academia and industry. Based on the neoclassical theory and the behavioral theory, this paper explores the driving factors of M&A among Chinese ChiNext companies. Two hypotheses were put forward: one based on IPO over-financing and the other based on the market value overvaluation. IPO over-financing is specific to the Chinese capital market while market value overestimation is driven by the continuous upsurge in the ChiNext Market. Our study found that both factors account for enterprises' mergers and acquisitions. They have far-reaching influences on such fields as acquisition probability, the size of the transaction, transaction frequency, M&A payment method and market reaction. Due to IPO over-financing, enterprises tend to carry out M&A via cash payment or cash and stock mixed payment method. Heavier IPO over-financing will increase the chance of M&A and leads to larger transaction size and higher transaction frequency. Market value overvaluation will lead to more uses of stock or cash and stock mixed payment on M&A transactions. When the company's stock is overvalued, the company will use the overvalued equity to acquire other companies. Greater overvaluation of the market value also increases the chance of M&A and leads to a larger transaction size and higher frequency of M&A. In China, IPO over-financing rather than market value over-valuation, is the major driving factor for China's corporate mergers and acquisitions. Further study found that the market reaction to different payment methods in mergers and acquisitions varies: it has the minimum reaction on cash payment, a larger reaction on stock payment and the greatest reaction on mixed payment. Also, the mixed payment method has the largest cumulative abnormal returns. This is different from the empirical findings in the United States and Europe. This paper provides a theoretical basis and empirical evidence for an in-depth understanding of the wave of mergers and acquisitions of Chinese ChiNext companies, and provides a basis for decision-making and policy recommendations for the government regulators and investors.

A high-speed counter-current chromatography (HSCCC) technique in a preparative scale has been applied to separate and purify cordycepin from the extract of Cordyceps militaris(L.) Link by a one-step separation. A high efficiency of HSCCC separation was achieved on a two-phase solvent system of n-hexane–n-butanol–methanol–water (23:80:30:155, v/v/v/v) by eluting the lower mobile phase at a flow rate of 2 ml/min under a revolution speed of 850 rpm. HSCCC separation of 216.2 mg crude sample (contained cordycepin at 44.7% purity after 732 cation-exchange resin clean-up) yielded 64.8 mg cordycepin with purity of 98.9% and 91.7% recovery. Identification of the target compound was performed by UV, IR, MS, 1H NMR and 13C NMR.