Ligand-activated transcription factor. Receptor that binds peroxisome proliferators such as hypolipidemic drugs and fatty acids. Has a preference for poly-unsaturated fatty acids, such as gamma-linoleic acid and eicosapentanoic acid. Once activated by a ligand, the receptor binds to promoter elements of target genes. Regulates the peroxisomal beta-oxidation pathway of fatty acids. Functions as transcription activator for the acyl-CoA oxidase gene. Decreases expression of NPC1L1 once activated by a ligand. Heterodimer with the retinoid X receptor. Interacts (via domain NR LBD) with CRY1 and CRY2 in a ligand-dependent manner (By similarity). Ubiquitous with maximal levels in placenta and skeletal muscle. Belongs to the nuclear hormone receptor family. NR1 subfamily. Peroxisome proliferator-activated receptor entry