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内容简介:This study examines whether engagement auditors with valuation expertise can improve acquirers' M&A outcomes. M&A deals often fail to create shareholder value due to overvaluation of target firms. We find that auditors with valuation expertise significantly enhance acquirers' stock returns around the announcement period, reduce takeover premiums, and lower the likelihood of post-acquisition ...
6月13日 15:30-17:30
明理讲堂第18期:Do Engagement Auditors with Valuation Expertise Improve Acquirers’ M&A Outcomes?
内容简介:This paper investigates how China's Air Pollution Control Action Plan affects housing prices through a quasi-experimental design. It identifies two channels: the Amenity Effect, which boosts housing prices by attracting population inflows, and the Production Effect, which reduces prices due to manufacturing labor displacement. Using a triple difference framework, the study finds that housing ...
6月12日 15:30-17:30
明理讲堂第17期:Clean Air Policy, Population Mobility, and Housing Prices: Unveiling the Overlooked Dynamics
内容简介:本文构建下属董事会规模(SubBSize)与结构离散度(Dispersion)指标,基于双重角色理论,分析40国4713家上市公司数据发现:董事会委员会数量增加及结构分散化显著推高股价崩盘风险。机制上,独立董事在监督与咨询职能中的角色重叠加剧信息不对称,引发管理层信息隐匿行为,导致盈余管理激增与财务质量下滑,放大极端风险。结论为优化董事会次级结构提供实证支持。演讲人简介:李卓雄,澳门大学金融与商业经济系副教授, ...
5月20日 15:00-17:00
明理讲堂第16期,邀请澳门大学李卓雄副教授《下属董事会结构、双重角色董事 和股价崩盘风险》
内容简介:We construct a new variable to explore whether fund managers' style drift can be explained by the correlation among stocks held by mutual funds. Using a joint database from CMSAR and RESSET, we conducted the research within the framework of the HBSA-SD theory. Our findings show that style drift is common in China and can improve fund returns to some extent.演讲人简介:沙叶舟,男,首都经济贸易大学金融学院教授、...
4月17日 16:00-18:00
明理讲堂第15期,邀请首都经济贸易大学金融学院教授沙叶舟、首都经济贸易大学金融学院教授周晔
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李春涛
教授
账款拖欠治理与中小企业盈余管理——基于《中小企业促进法》修正案实施的证据
山西财经大学学报, 2025年第5期
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赵一
讲师
The impact of stock market liberalization on management forecast precision– Evidence from Mainland-Hong Kong Stock Connect Programs in China
Journal of Accounting and Public Policy, 2024
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刘鹏
副教授
Air pollution, sustainable development, and corporate R&D: Evidence from emerging countries
Journal of Environmental Management, Accepted 31 August 2024
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李春涛
教授
Business environment and its impact on local government financing costs: evidence from the credit spread of municipal corporate bonds in China
Applied Economics, Available online 28 Mar 2025
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苗健铭
副教授
Social trust and export quality: Empirical evidence from China
Journal of Asian Economics, Available online 28 February 2025
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郭益蓓
副教授
​Leveling the playing field:How intellectual property protection countervails foreign quality shocks
China Economic Review, Available online 7 April 2025

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