Based on the sample data of the listed firms on the A stock market, we analyze how the system of independent directors influence the earning conservatism from 4 dimensions designed to measure the monitoring power of t...Based on the sample data of the listed firms on the A stock market, we analyze how the system of independent directors influence the earning conservatism from 4 dimensions designed to measure the monitoring power of these independent directors： Percentage within BDs, professional capacities, stimulation and work conditions. From the empirical results, we conclude that the more powerful of the independent directors, the better the accounting conservatism, and that their positive impact increases along with the improvement on corporate governance, meanwhile the work conditions plays the most important role, and then are the percentage within BDs and their professional capacities, the stimulation and personal reputation appear the least importance.展开更多
According to the related data of A-share listed companies in 2009-2013,through extension model based on Basu＇s surplus - the stock return rate model ,this paper studies that the debt maturity structure influences on ...According to the related data of A-share listed companies in 2009-2013,through extension model based on Basu＇s surplus - the stock return rate model ,this paper studies that the debt maturity structure influences on accounting conservatism. The empirical study finds that the amount of debt affects significantly the prudence,that is,the greater the amount of the debt contract con- cluded, the stronger role of accounting conservatism is ; Debt maturity have significant relationship with accounting conservatism. For the shorter debt maturity, the enterprise is easier to choose more prudent accounting policy, and when the period is longer, accounting conservatism is relatively weaker.展开更多
This study seeks to examine the influence of board skill, multiple directorships （BSHIP）, and tenure of independent directors on accounting conservatism, as measured by asymmetric timeliness and accrual-based conser...This study seeks to examine the influence of board skill, multiple directorships （BSHIP）, and tenure of independent directors on accounting conservatism, as measured by asymmetric timeliness and accrual-based conservatism （CONACCR）. Fixed-effect regression models were constructed on a sample of 2016 firm-year observations for asymmetric timeliness model and 2033 firm-year observations for CONACCR model, which covered from 2001 to 2007. The findings show that the degree of financial expertise on the board is positively associated with the recognition of bad news which is relative to good news into earnings. BSHIP appears to have no effect on conservatism. Independent directors who have longer tenure in the board of the firms are slower in recognizing bad news which is relative to good news into earnings. The study provides empirical evidence on the effectiveness of the board of directors, which will be an interest to the practitioner or regulators in reviewing the corporate governance regulations.展开更多
This study aims to evaluate the level of accounting conservatism when preparing financial statements by companies listed in Kuwait Stock Exchange （KSE）. In addition, the study examines the factors that affect the le...This study aims to evaluate the level of accounting conservatism when preparing financial statements by companies listed in Kuwait Stock Exchange （KSE）. In addition, the study examines the factors that affect the level of accounting conservatism in those companies with regard to company sizes, debt contracts, and the type of sector the company belongs to. To achieve these goals, the Basu （1997） model was used to measure conservatism level and the factors influencing it. The sample of the study comprises of 225 companies listed in KSE. Findings of the study showed that the KSE succeeded in forcing Kuwait companies to present a reasonable level of accounting conservatism. The study also found out that the financial statements of small companies were conservative, while those of the big ones were not. In addition, the debt contracts left an impact upon financial reports of accounting conservatism. Thus, companies with lower debts were more conservative than those of higher ones. Moreover, the financial statements of the financial sector in KSE were the most conservative.展开更多
＂Conservatism＂ is a widely accepted accounting convention in the industrialized world, but it has long been slated and prohibited under the orthodox ideological influences. To date, the conservatism convention has n...＂Conservatism＂ is a widely accepted accounting convention in the industrialized world, but it has long been slated and prohibited under the orthodox ideological influences. To date, the conservatism convention has not been fully adopted or implemented although the governments have made substantial efforts to reform its accounting system to bridge the gaps between the accounting practices in recent years. The study findings will facilitate a proper assessment of the future development of accounting standards and practices.展开更多
Although accounting conservatism affects accounting practice for a long time,the attack on it has not stopped.Recently,accounting conser-vatism again gets into an embarrassing situation for the substantial introductio...Although accounting conservatism affects accounting practice for a long time,the attack on it has not stopped.Recently,accounting conser-vatism again gets into an embarrassing situation for the substantial introduction of fair value measurement.Is it necessary for accounting conservatism in Chi-na?On the basis of the review of the concept development of accounting conservatism,the paper further investigates the debt contract interpretation and com-pensation contract interpretation,economic consequences.Combining with the specific situation of our country,the paper argues it is necessary for accounting conservatism to exist in China.展开更多
A principal-agent relationship exists among creditors,shareholders and management,and information asymmetry among them leads to asymmetric loss functions,which induces conservative accounting.This paper investigates t...A principal-agent relationship exists among creditors,shareholders and management,and information asymmetry among them leads to asymmetric loss functions,which induces conservative accounting.This paper investigates the determinants of accounting conservatism using accrual-based measures and data from 2001 to 2006 in China.We find that a higher degree of leverage,lower level of control of ultimate shareholders and lower level of management ownership lead to more conservative financial reporting.We also find that political concerns and pressures among state-owned enterprises are greater than those among non-state owned enterprises,which leads to more conservative financial reporting among the former.However,a decrease in such concerns leads to a decrease in accounting conservatism.Overall,we find that among the determinants of conservatism in China,debt is the most important,followed by ownership,and that board has little influence.展开更多
Based on signaling and gender discrimination theory, we examine whether chief financial officer(CFO) gender matters to bank–firm relationships and the designing of collateral clauses in bank loan contracting, and exp...Based on signaling and gender discrimination theory, we examine whether chief financial officer(CFO) gender matters to bank–firm relationships and the designing of collateral clauses in bank loan contracting, and explore the potential path of influence. Data taken from Chinese listed companies between2009 and 2012 indicate that(1) female-CFO-led firms are less likely to obtain credit loans than male-CFO-led firms;(2) female-CFO-led borrowers are more likely to be required to provide collateral for loans than male-CFO-led borrowers; and(3) banks are more inclined to claim mortgaging collateral when lending to female-CFO-led firms and prefer to guarantee collateral when lending to male-CFO-led firms. Female-CFO-led borrowers seem to be granted more unfavorable loan terms than male-CFO-led borrowers, supporting the hypothesis that female CFOs experience credit discrimination. Further analysis reveals that regional financial development helps to alleviate lending discrimination against female CFOs. Furthermore, female CFOs in SOEs are less likely than their non-SOE counterparts to experience gender discrimination in the credit market.展开更多
This paper investigates the factors affecting the conservatism of accounting reports at the market-level and firm-level. At the market-level, law and institutional factors explain conservatism, while at the firm-level...This paper investigates the factors affecting the conservatism of accounting reports at the market-level and firm-level. At the market-level, law and institutional factors explain conservatism, while at the firm-level contracting is the driver. We predict and observe that while both levels jointly affect conservatism, it is firm-level factors that play a dominant role. The conclusion suggests that it is more effective to improve the quality of accounting reports by motivating the firm's own demand rather than through listing in a developed capital market.展开更多
Using a sample of A-share listed firms in China during the 2003–2012 period,this paper investigates the effect of accounting conservatism on trade credit,taking changes in monetary policy into account.We find that co...Using a sample of A-share listed firms in China during the 2003–2012 period,this paper investigates the effect of accounting conservatism on trade credit,taking changes in monetary policy into account.We find that corporations with higher accounting conservatism obtain more trade credit and that accounting conservatism has a greater influence on trade credit under tight monetary policy.Furthermore,the backgrounds of the supplier and customer influence the positive relationship between accounting conservatism and trade credit.This influence is more evident when a company is privately owned and has greater market power,and less evident when the supplier or customer is the controlling shareholder.展开更多
Species range expansions are crucial for understanding niche formation and the interaction with the environment.Here,we studied the bumblebee Bombus haematurus Kriechbaumer,1870,a species historically distributed from...Species range expansions are crucial for understanding niche formation and the interaction with the environment.Here,we studied the bumblebee Bombus haematurus Kriechbaumer,1870,a species historically distributed from northern Serbia through northern Iran which has very recently started expanding northwestward into Central Europe without human-mediated dispersal(i.e.,it is a natural spread).After updating the global distribution of this species,we investigated if niche shifts took place during this range expansion between newly colonized and historical areas.In addition,we have explored which climatic factors may have favored the natural range expansion of the species.Our results indicated that Bombus haematurus has colonized large territories in 7 European countries outside the historical area in the period from the 1980s to 2018,a natural expansion over an area that equals 20%of the historical distribution.In addition,this bumblebee performs generalism in flower visitation and it occurs in different habitats,although a preference for forested areas clearly emerges.The land-use associated with the species in the colonized areas is similar to the historical distribution,indicating that no major niche shifts occurred during the spread.Furthermore,in recently colonized localities,the range expansion was associated with warming temperatures during the winter and also during both queen overwintering and emergence phases.These findings document a case of natural range expansion due to environmental change rather than due to niche shifts,and specifically they suggest that warmer winters could be linked to the process of natural colonization of new areas.展开更多
This study explores the level of unconditional conservatism(UNCC)in accounting after China’s convergence with International Financial Reporting Standards(IFRS).Using the intercept of the Basu(1997)model,an overall re...This study explores the level of unconditional conservatism(UNCC)in accounting after China’s convergence with International Financial Reporting Standards(IFRS).Using the intercept of the Basu(1997)model,an overall reduction is found in UNCC under the Chinese version of IFRS.This study is the first attempt to conduct a comprehensive theoretical comparison between old and new Chinese accounting standards(CAS)in terms of UNCC.Additionally,it is the first study on the impact of convergence with IFRS,not the full adoption of IFRS,on UNCC.Finally,the study covers a relatively more extended period than most previous studies,from 1996 to 2017.展开更多
Mergers and acquisitions(M&As)are among the most important investment activities for companies,but they contain great risks.We investigate the role of accounting conservatism in M&A target selection and risk.W...Mergers and acquisitions(M&As)are among the most important investment activities for companies,but they contain great risks.We investigate the role of accounting conservatism in M&A target selection and risk.We find that for risk-averse reasons,firms with high accounting conservatism are likely to acquire profitable targets and avoid loss-making targets.When such firms acquire loss-making targets,the conservatism’s risk-control role reduces M&A risk and increases M&A performance,but only when control of the target is transferred and the acquirer has high long-term debt and low management power.Furthermore,accounting conservatism reduces risk by increasing the maturity match between cash flow and debt.Our results suggest that accounting conservatism plays not only a risk-averse role but also a riskcontrol role,providing new evidence for the usefulness of accounting conservatism in M&A decisions.展开更多
The philosophical debate between“radicalism”and“conservatism”in emerging human enhancement technologies(HET)has never ceased.Although their theoreti-cal claims seem to be distinct from each other,they actually sha...The philosophical debate between“radicalism”and“conservatism”in emerging human enhancement technologies(HET)has never ceased.Although their theoreti-cal claims seem to be distinct from each other,they actually share certain common-alities,which are mainly manifested in three aspects:first,they both hold certain illusions about emerging HET;second,they both reflect the loss of human subjec-tivity in the debate;and third,they both leave the premise of their propositions in suspense.Based on the reflection and grasp of these commonalities,we can grasp the possible boundaries of the dissolution of the two oppositions:let HET be“where it is in,”reconfigure anthropocentrism,suspend metaphysical myths,and turn to the“reality of human beings.”展开更多
As one of the representative Chinese writers who was born in the 1970s,Qiao Ye's writing exhibits considerable diversity and varied understandings of literature across genres.In her full-length novels,Qiao Ye is e...As one of the representative Chinese writers who was born in the 1970s,Qiao Ye's writing exhibits considerable diversity and varied understandings of literature across genres.In her full-length novels,Qiao Ye is exceptionally innovative and exploratory,and each novel is distinct in subject matter and style.However,her medium-length and short stories tend to be more conservative,characterized by a simple and natural style,imbued with the charm of literary tradition.This artistic stance in writing style is different from other writers and unique to Qiao Ye,which is not only indicative of her vivid artistic individuality but also holds value for further research into creative writing and stylistics.展开更多
As an important building block for the synthesis of angiotensin-converting enzyme inhibitors,ethyl(R)-2-hy-droxyl-4-phenylbutanoate[(R)-HPBE]has attracted increasing attention.The key to industrial biosynthesis of(R)-...As an important building block for the synthesis of angiotensin-converting enzyme inhibitors,ethyl(R)-2-hy-droxyl-4-phenylbutanoate[(R)-HPBE]has attracted increasing attention.The key to industrial biosynthesis of(R)-HPBE is a biocatalyst that efficiently reduces ethyl 2-oxo-4-phenylbutanoate(OPBE)with high R-enantiose-lectivity.This paper proposed a strategy for identifying key residues involved in enantioselectivity control based on per-residue free energy decomposition and sequence conservatism analysis.Using this strategy,4 noncon-servative sites with high energy contribution to binding of OPBE were chosen as engineering targets,generating variant Mu27 with 99%conversion and 98%(R)ee value at substrate loading of up to 500 mmol/L.MD simu-lations suggested the higher stability and formation probability of Mu27-OPBEproR prereaction state as key rea-sons for the excellent R-enantioselectivity of Mu27 towards OPBE.The success in this study provides a viable approach for rational design of alcohol dehydrogenases with high enantioselectivity towards unnatural substrates.展开更多
文摘Based on the sample data of the listed firms on the A stock market, we analyze how the system of independent directors influence the earning conservatism from 4 dimensions designed to measure the monitoring power of these independent directors： Percentage within BDs, professional capacities, stimulation and work conditions. From the empirical results, we conclude that the more powerful of the independent directors, the better the accounting conservatism, and that their positive impact increases along with the improvement on corporate governance, meanwhile the work conditions plays the most important role, and then are the percentage within BDs and their professional capacities, the stimulation and personal reputation appear the least importance.
文摘According to the related data of A-share listed companies in 2009-2013,through extension model based on Basu＇s surplus - the stock return rate model ,this paper studies that the debt maturity structure influences on accounting conservatism. The empirical study finds that the amount of debt affects significantly the prudence,that is,the greater the amount of the debt contract con- cluded, the stronger role of accounting conservatism is ; Debt maturity have significant relationship with accounting conservatism. For the shorter debt maturity, the enterprise is easier to choose more prudent accounting policy, and when the period is longer, accounting conservatism is relatively weaker.
文摘This study seeks to examine the influence of board skill, multiple directorships （BSHIP）, and tenure of independent directors on accounting conservatism, as measured by asymmetric timeliness and accrual-based conservatism （CONACCR）. Fixed-effect regression models were constructed on a sample of 2016 firm-year observations for asymmetric timeliness model and 2033 firm-year observations for CONACCR model, which covered from 2001 to 2007. The findings show that the degree of financial expertise on the board is positively associated with the recognition of bad news which is relative to good news into earnings. BSHIP appears to have no effect on conservatism. Independent directors who have longer tenure in the board of the firms are slower in recognizing bad news which is relative to good news into earnings. The study provides empirical evidence on the effectiveness of the board of directors, which will be an interest to the practitioner or regulators in reviewing the corporate governance regulations.
文摘This study aims to evaluate the level of accounting conservatism when preparing financial statements by companies listed in Kuwait Stock Exchange （KSE）. In addition, the study examines the factors that affect the level of accounting conservatism in those companies with regard to company sizes, debt contracts, and the type of sector the company belongs to. To achieve these goals, the Basu （1997） model was used to measure conservatism level and the factors influencing it. The sample of the study comprises of 225 companies listed in KSE. Findings of the study showed that the KSE succeeded in forcing Kuwait companies to present a reasonable level of accounting conservatism. The study also found out that the financial statements of small companies were conservative, while those of the big ones were not. In addition, the debt contracts left an impact upon financial reports of accounting conservatism. Thus, companies with lower debts were more conservative than those of higher ones. Moreover, the financial statements of the financial sector in KSE were the most conservative.
文摘＂Conservatism＂ is a widely accepted accounting convention in the industrialized world, but it has long been slated and prohibited under the orthodox ideological influences. To date, the conservatism convention has not been fully adopted or implemented although the governments have made substantial efforts to reform its accounting system to bridge the gaps between the accounting practices in recent years. The study findings will facilitate a proper assessment of the future development of accounting standards and practices.
文摘Although accounting conservatism affects accounting practice for a long time,the attack on it has not stopped.Recently,accounting conser-vatism again gets into an embarrassing situation for the substantial introduction of fair value measurement.Is it necessary for accounting conservatism in Chi-na?On the basis of the review of the concept development of accounting conservatism,the paper further investigates the debt contract interpretation and com-pensation contract interpretation,economic consequences.Combining with the specific situation of our country,the paper argues it is necessary for accounting conservatism to exist in China.
基金sponsored by the National Natural Science Foundation of China(grant number 70772017)
文摘A principal-agent relationship exists among creditors,shareholders and management,and information asymmetry among them leads to asymmetric loss functions,which induces conservative accounting.This paper investigates the determinants of accounting conservatism using accrual-based measures and data from 2001 to 2006 in China.We find that a higher degree of leverage,lower level of control of ultimate shareholders and lower level of management ownership lead to more conservative financial reporting.We also find that political concerns and pressures among state-owned enterprises are greater than those among non-state owned enterprises,which leads to more conservative financial reporting among the former.However,a decrease in such concerns leads to a decrease in accounting conservatism.Overall,we find that among the determinants of conservatism in China,debt is the most important,followed by ownership,and that board has little influence.
基金financial support received from the National Natural Science Foundation of China (Approval Nos. 71102063, 71572019 and 71232004)the Fundamental Research Funds for Central Universities (Approval Nos. CQDXWL-2013-Z005 and 106112015CDJSK 02XK12)
文摘Based on signaling and gender discrimination theory, we examine whether chief financial officer(CFO) gender matters to bank–firm relationships and the designing of collateral clauses in bank loan contracting, and explore the potential path of influence. Data taken from Chinese listed companies between2009 and 2012 indicate that(1) female-CFO-led firms are less likely to obtain credit loans than male-CFO-led firms;(2) female-CFO-led borrowers are more likely to be required to provide collateral for loans than male-CFO-led borrowers; and(3) banks are more inclined to claim mortgaging collateral when lending to female-CFO-led firms and prefer to guarantee collateral when lending to male-CFO-led firms. Female-CFO-led borrowers seem to be granted more unfavorable loan terms than male-CFO-led borrowers, supporting the hypothesis that female CFOs experience credit discrimination. Further analysis reveals that regional financial development helps to alleviate lending discrimination against female CFOs. Furthermore, female CFOs in SOEs are less likely than their non-SOE counterparts to experience gender discrimination in the credit market.
基金supported by Program for New Century Excellent Talents in University
文摘This paper investigates the factors affecting the conservatism of accounting reports at the market-level and firm-level. At the market-level, law and institutional factors explain conservatism, while at the firm-level contracting is the driver. We predict and observe that while both levels jointly affect conservatism, it is firm-level factors that play a dominant role. The conclusion suggests that it is more effective to improve the quality of accounting reports by motivating the firm's own demand rather than through listing in a developed capital market.
基金supported by the National Natural Science Foundation of China(Project No.71202170)The Importation and Development of High-Caliber Talents Project of Beijing Municipal Institutions(Project No.CIT&TCD201504003)
文摘Using a sample of A-share listed firms in China during the 2003–2012 period,this paper investigates the effect of accounting conservatism on trade credit,taking changes in monetary policy into account.We find that corporations with higher accounting conservatism obtain more trade credit and that accounting conservatism has a greater influence on trade credit under tight monetary policy.Furthermore,the backgrounds of the supplier and customer influence the positive relationship between accounting conservatism and trade credit.This influence is more evident when a company is privately owned and has greater market power,and less evident when the supplier or customer is the controlling shareholder.
基金We warmly thank Irene Konovalova,Danilo Bevk,Paul Williams,Fred-erique Bakker,Maurizio Cornalba,Jakub Straka,and the participants at the ABIM一Alpine Bombus International Meeting for data sharing and/or for the fruitflil discus sions discus sions on Bombus haematurus.The contribution of AC was partly supported through the Project of Ministry of Education,Science and Technological Development of the Republic of Serbia(#III43001).
文摘Species range expansions are crucial for understanding niche formation and the interaction with the environment.Here,we studied the bumblebee Bombus haematurus Kriechbaumer,1870,a species historically distributed from northern Serbia through northern Iran which has very recently started expanding northwestward into Central Europe without human-mediated dispersal(i.e.,it is a natural spread).After updating the global distribution of this species,we investigated if niche shifts took place during this range expansion between newly colonized and historical areas.In addition,we have explored which climatic factors may have favored the natural range expansion of the species.Our results indicated that Bombus haematurus has colonized large territories in 7 European countries outside the historical area in the period from the 1980s to 2018,a natural expansion over an area that equals 20%of the historical distribution.In addition,this bumblebee performs generalism in flower visitation and it occurs in different habitats,although a preference for forested areas clearly emerges.The land-use associated with the species in the colonized areas is similar to the historical distribution,indicating that no major niche shifts occurred during the spread.Furthermore,in recently colonized localities,the range expansion was associated with warming temperatures during the winter and also during both queen overwintering and emergence phases.These findings document a case of natural range expansion due to environmental change rather than due to niche shifts,and specifically they suggest that warmer winters could be linked to the process of natural colonization of new areas.
文摘This study explores the level of unconditional conservatism(UNCC)in accounting after China’s convergence with International Financial Reporting Standards(IFRS).Using the intercept of the Basu(1997)model,an overall reduction is found in UNCC under the Chinese version of IFRS.This study is the first attempt to conduct a comprehensive theoretical comparison between old and new Chinese accounting standards(CAS)in terms of UNCC.Additionally,it is the first study on the impact of convergence with IFRS,not the full adoption of IFRS,on UNCC.Finally,the study covers a relatively more extended period than most previous studies,from 1996 to 2017.
基金supported by funds from the National Natural Science Foundation of China(No.71790603,71672204)
文摘Mergers and acquisitions(M&As)are among the most important investment activities for companies,but they contain great risks.We investigate the role of accounting conservatism in M&A target selection and risk.We find that for risk-averse reasons,firms with high accounting conservatism are likely to acquire profitable targets and avoid loss-making targets.When such firms acquire loss-making targets,the conservatism’s risk-control role reduces M&A risk and increases M&A performance,but only when control of the target is transferred and the acquirer has high long-term debt and low management power.Furthermore,accounting conservatism reduces risk by increasing the maturity match between cash flow and debt.Our results suggest that accounting conservatism plays not only a risk-averse role but also a riskcontrol role,providing new evidence for the usefulness of accounting conservatism in M&A decisions.
基金Hunan Provincial Natural Science Foundation:Research on Ethica Issues and Governance Strategies of Emerging Human Enhancement Technologies(Grant No.2024JJ5278).
文摘The philosophical debate between“radicalism”and“conservatism”in emerging human enhancement technologies(HET)has never ceased.Although their theoreti-cal claims seem to be distinct from each other,they actually share certain common-alities,which are mainly manifested in three aspects:first,they both hold certain illusions about emerging HET;second,they both reflect the loss of human subjec-tivity in the debate;and third,they both leave the premise of their propositions in suspense.Based on the reflection and grasp of these commonalities,we can grasp the possible boundaries of the dissolution of the two oppositions:let HET be“where it is in,”reconfigure anthropocentrism,suspend metaphysical myths,and turn to the“reality of human beings.”
基金This paper is a periodical result of the Youth Program"Research on Family Narratives in Chinese Literature since Reform and Opening up"(2022EWY004)funded by the Project of Shanghai Planning Office of Philosophy and Social Science.
文摘As one of the representative Chinese writers who was born in the 1970s,Qiao Ye's writing exhibits considerable diversity and varied understandings of literature across genres.In her full-length novels,Qiao Ye is exceptionally innovative and exploratory,and each novel is distinct in subject matter and style.However,her medium-length and short stories tend to be more conservative,characterized by a simple and natural style,imbued with the charm of literary tradition.This artistic stance in writing style is different from other writers and unique to Qiao Ye,which is not only indicative of her vivid artistic individuality but also holds value for further research into creative writing and stylistics.
基金This study is financially supported by the National Key Research and Development Program of China(No.2018YFA0901800 to H.Yu and L.Ye)Zhejiang Provincial Natural Science Foundation of China(No.LY18B060001 to L.Ye and No.LZ20B060002 to H.Yu)Natural Science Foundation of China(No.21776244 to H.Yu).We are grateful to the constructive suggestions from academician Fen-Er Chen(Department of Chemistry,Fudan University,Shanghai,China)and the support of Discovery Studio software from Fuzhou University platform.
文摘As an important building block for the synthesis of angiotensin-converting enzyme inhibitors,ethyl(R)-2-hy-droxyl-4-phenylbutanoate[(R)-HPBE]has attracted increasing attention.The key to industrial biosynthesis of(R)-HPBE is a biocatalyst that efficiently reduces ethyl 2-oxo-4-phenylbutanoate(OPBE)with high R-enantiose-lectivity.This paper proposed a strategy for identifying key residues involved in enantioselectivity control based on per-residue free energy decomposition and sequence conservatism analysis.Using this strategy,4 noncon-servative sites with high energy contribution to binding of OPBE were chosen as engineering targets,generating variant Mu27 with 99%conversion and 98%(R)ee value at substrate loading of up to 500 mmol/L.MD simu-lations suggested the higher stability and formation probability of Mu27-OPBEproR prereaction state as key rea-sons for the excellent R-enantioselectivity of Mu27 towards OPBE.The success in this study provides a viable approach for rational design of alcohol dehydrogenases with high enantioselectivity towards unnatural substrates.
