山东大学管理学院  教师登陆
English   
学术信息
学术信息
   推荐内容
  • 【成果】刘家义书记对《关于推动我省国有文化企业高质量发展的对策建议》作出批示
  • 【要闻】管理学院迎新工作落下帷幕
  • 【学工】管理学院举行第一次学生代表大会
  • 【要闻】管理学院召开教职工大会部署下一步工作
  • 【学术】第五届中国管理学学术期刊年会暨管理创新研讨会在山大举行
  •  
     首页 » 学术信息
     
    学术报告:The impact of holding bank ownership on investment efficiency: Evidence from China.
        来源:管理学院    2018-07-12    访问1515次

    讲座题目:The impact of holding bank ownership on investment efficiency: Evidence from China.
    讲座时间:2018年7月13日(周五)下午15:00-17:00
    讲座地点:知新楼B218
    报告人:罗天培
    主讲人介绍:
    Dr. Tianpei Luo holds a lecturer (assistant professor) position at School of Economics and Finance, Curtin University, Australia. He received his Ph.D from Deakin University in 2016. His main research focus is in the area includes, political connection, ownership structure, mergers and acquisitions and corporate governance in the Chinese capital market. He got publications in high ranked journals such as Journal of Corporate Finance, Pacific Basin Finance Journal and Accounting and Finance. One of his papers has been received the Pacific Basin Finance Journal Best Paper award in 2015. Tianpei is currently a reviewer for the journals of International Review of Finance, The World of Economy and Accounting and Finance. 
    Abstract:
    This study examines the impact of holding bank ownership on the firms’ investment efficiency in Chinese capital market. We find that the economic bond with banks reduce the investment inefficiency in holding firms by mitigating both underinvestment and overinvestment. Our analysis reveals that holding bank ownership ameliorates the underinvestment by mitigating financial constraints through raising more bank loans and through reducing the cash flow sensitivity of cash holdings. Holding bank ownership also reduces the overinvestment by enhancing corporate governance through the stricter disclosure requirement and closer monitoring from dual regulatory agencies, which results in lower level of corporate cash holdings and controlling shareholder expropriations, especially in firms with a high propensity of overinvestment. Finally, we find that impact of holding bank ownership on reducing investment inefficiency is more pronounced in non-SOEs, firms located in provinces with low marketization and firm without institutional investors.



        编辑:科研办公室
    « 上一篇:学术报告:大数据旅游研究探讨
    » 下一篇:学术报告:游历及其历史记录:一带一路文化景观
       

    扫码关注山东大学公众号

    扫码关注山大管理学院公众号