博彩平台

时间：2024.6.6 上午9:30-11:30

地点：东校区财科馆三楼EMBA教室（318会议室）+线上

主持人：方一蔚 教授

【报告一】

题目：The Fear of Divorce: The Unintended Consequence of Unilateral Divorce Laws on Corporate Innovation

摘要：Using staggered state-level adoptions of unilateral divorce laws (UDLs) in the United States, we find that firms generate fewer patents after the enactment of UDLs. This effect is more pronounced in states with a higher property loss risk, suggesting that individuals’ perceived risk of wealth loss discourages them from engaging in innovative activities. We further find a decline in R&D and a decrease in innovation efficiency and productivity after the passage of UDLs, indicating that the reduced innovation is attributed to both corporate managers and inventors. Our study sheds new light on the impact of family laws on corporate behavior.

报告人简介：吴强教授（香港理工大学）

Professor Qiang Wu is a full professor and Associate Head for Research at the School of Accounting and Finance, Hong Kong Polytechnic University (PolyU). Professor Wu has a broad research interest in accounting and finance. His research topics include tax avoidance, earnings quality, corporate governance, debt contracting, CSR, ESG, NLP, and gender and ethical issues. Professor Wu has published more than 50 peer-reviewed articles, and 13 of them have appeared in several premier journals, including Journal of Accounting Research, The Accounting Review, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Contemporary Accounting Research, Journal of Business Ethics, and Research Policy. Professor Wu’s works have also been widely cited by both academia (more than 6,000 Google citations) and major business media, including Bloomberg, CNBC, WAMC, Reuters, Dow Jones Newswires, AICPA, Accounting Today, AAA, CFO Magazine, Catalyst, Bankrate. Professor Wu currently is the Editor-in-Chief of China Accounting and Finance Review (ABDC “A”), an editor of Journal of International Accounting Research (ABDC “A”), an editor of Journal of International Accounting, Auditing and Taxation (ABS 3), an associate editor of Journal of Financial Stability (ABS 3), and an associate editor of Advances in Accounting (ABDC “A”).

【报告二】

题目：Centralization or Decentralization?  The Evolution of State-Ownership in China

摘要：We re-examine the state sector and its role in the Chinese economy by using the information on the ownership networks of 40 million firms for 1990-2017. We propose a new measure of state-owned enterprises (SOEs) and partial SOEs based on the firm-to-firm equity investment relationships. Our measure captures a significantly larger number of SOEs than the existing measures. The aggregated registered capital of all the SOEs (including partial SOEs) has climbed up to 85%, and the total state capital in all the SOEs has increased to 31%, both over total capital in the economy by the end of 2017. State ownership shows dual trends of decentralization (“administrative hierarchy”) and indirect control (“ownership hierarchy”) over time.  The opening of high-speed rails can explain the increasing hierarchical distance to governments. Mixed ownership is associated with higher firm growth (in assets) and better performance as measured by higher profitability and productivity, while a greater hierarchical distance to the central and provincial governments is associated with better firm performance but lower asset growth.

报告人简介：顾弦副教授（杜伦大学）

Xian Gu joined Durham University Business School in June 2020 as an Associate Professor in Finance. Prior to this, she was an Associate/Assistant Professor in Finance at School of Finance of Central University of Finance and Economics (CUFE) in Beijing, Visiting Lecturer at Wharton School of University of Pennsylvania. Before these, she was a post-doctoral research fellow at the Wharton School of University of Pennsylvania.

Xian’s research interests are corporate finance, financial intermediation, FinTech, law and finance. She has published academic papers in Journal of Financial Economics, Journal of International Economics, and Annual Review of Financial Economics, among others. Her papers have won the Best Paper Awards at conferences including AsianFA (2019); CFRC (2019); CICF (2021); CFRC (2021).

Xian is currently the Deputy Director of the Centre for Banking, Institutions, and Development (CBID) at Durham University Business School. She currently serves as an Associate Editor in Journal of Financial Stability.