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著名学者论坛:Trade Credit Provision and Stock Price Crash Risk

著名学者论坛:Trade Credit Provision and Stock Price Crash Risk

 

报告题目:Trade Credit Provision and Stock Price Crash Risk

         

人:黄蔚

报告时间:2019528日(周二)上午9001100

报告地点:劝学楼223

主办单位:工商管理学院

 

内容简介:

We investigate the influence of trade-credit provision on stock-price crash risk in an emerging-market setting. Using a sample of Chinese listed firms, we find that trade credit provision significantly increases stock-price crash risk. Results are economically significant and robust to different measures of crash risk, alternative trade credit calculations and multiple model specifications.  We further evidence that in China, an emerging market with less developed credit environment, trade credit provision affects stock-price crash risk through information channel and the link is heightened when the firm information asymmetry is severer. Findings should be of great interest to scholars interested in the role of information disclosure in emerging financial markets; as well as to investors and regulators concerned about stock price crash risk.

 

报告人简介:

黄蔚博士,宁波诺丁汉大学商学院金融和会计学系教授,担任金融、财会和经济系主任。黄蔚教授在南京师范大学获得数学学士学位,在埃克塞特大学获得财务管理硕士学位,在布里斯托大学获得金融博士学位,拥有财务风险经理(FRM® CPA (澳大利亚)证书,在企业咨询、高管培训等方面用有丰富经验。黄蔚教授曾在布里斯托大学担任会计和金融学助教(2003-2006)、在诺桑比亚大学担任金融学高级讲师(2006-2007)。根据教学评估(SET)调查,黄蔚教授一直被评为诺丁汉大学商学院(中国)最佳教师。黄蔚教授现为International Review of Financial AnalysisInternational Review of Economics and FinanceFinance Research LettersResearch in International Business and Finance等金融期刊的副主编。黄蔚教授的研究领域包括公司金融、财务报告质量、金融和创新,他对中国市场和企业具有浓厚的研究兴趣,并已指导了多名博士生,在金融、会计和经济等顶级期刊发表了十余篇学术论文。

 

 

 撰稿:金轩竹              审核:陈仕华                   单位:工商管理学院


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