We re-considered the properties of electromagnetic waves excited by ring-distributed, in the magnetic-field-perpendicular velocity space, electron beams in the solar atmosphere as they are caused by magnetic reconnection. Ring-beam electrons contain additional free energy due to the positive gradient of their velocity space distribution in the direction perpendicular to the magnetic field, i.e., d f /du ⊥ > 0 in addition to the beam-related free energy u ·d f /du > 0 in the direction parallel to the magnetic field. As a result, not only beam instability but also so called electron cyclotron maser (ECM) instability can be excited, which may generate escaping electromagnetic waves. In order to understand the properties of the waves generated in the course of the propagation of such beams, we investigated the intensity and polarization properties of these excited waves in dependence on the evolving beam density and coronal magnetic field strength. For this sake, we utilized 2.5-dimensional particle-in-cell (PIC) code Corresponding author: X. Zhou zhouxw@pmo.ac.cn arXiv:1907.12958v1 [physics.plasm-ph] 28 Jul 2019 2 Zhou et al.numerical simulations. We separated the intensities of the different wave modes according to their dispersion properties. We found that predominantly electrostatic plasma waves are generated but also highly anisotropic and polarized electromagnetic whistler, Z, O and X-mode waves. Their intensity anisotropy strongly depends on the number density of the ring-beam electrons compared to the density of the background electrons. Circular polarization degree (CPD) and spectrogram of the escaping electromagnetic waves with ω > ω pe and |ck/ω| < 1 are also strongly anisotropic, but becoming more symmetric about the wave propagation direction θ = 90 • for denser ring-beam electron population. Meanwhile, with denser ring-beam electron population, escaping waves are predominantly left-handed polarized over a wide range of propagation directions. We discuss the consequences of our findings for using the solar radio burst observations to diagnose the beam and plasma conditions at the sites of their generation.